If you were to envision a balance scale in front of you with one side representing how much you talk and the other side how much you listen, which side would the scale favor?
Figure 16.1
Have you ever heard of someone talking himself or herself out of a sale? On the contrary, have you ever heard of someone listening himself or herself out of a sale?
It happens every hour of every day; salespeople talk themselves out of sales. Sellers talk too much, explain too much, interrupt too much, and listen too little.
Note: The Bible tells of Samson killing ten thousand Philistines with the jawbone of an ass. Thousands of sales are killed each day with the same weapon.
I spoke to a potential client who owns a very large, privately held insurance company with branches in multiple cities across California. We were meeting to discuss ways in which we could increase his sales and expand his business, and we had only one hour to make our presentation. We started off the meeting with questions about his business, market, clients, competition, and potential for future growth. We had been meeting with this gentleman for forty-five minutes and had barely mentioned our consultative services. My colleague looked panicked. So I stopped asking questions, put my pen down on my notepad and told the potential client that I would like to take a few minutes and discuss how Patrick Henry International could help him achieve his business and sales objectives. Using the information he provided, and utilizing his explanations of potential areas for improvement and growth, I proceeded to explain exactly how we could improve his business and grow his sales exponentially. It took less than ten minutes. We ended our meeting on time, shook hands, and left.
We were awarded the contract.
As we were driving away, I asked my colleague how he thought the meeting went. When he told me he was surprised that I hadn’t talked about our training and coaching services until the very end of the conversation (he thought I “cut it too tight) I explained to him that the sale was made prior to the discussion about our training and coaching capabilities when we listened to the owner of the company articulate the problems he was experiencing in growing his company. By the time I discussed Patrick Henry International, the owner had convinced himself that something needed to be done to address the business and sales challenges he was facing.
My colleague learned a valuable lesson that day about the power of listening. Asking good questions, taking notes, and keeping our mouths shut won the sale.
Note: Average sellers talk. Elite sellers listen.
In our trainings, I often ask people what the appropriate balance should be between listening and speaking. We normally get an array of answers ranging between 70 and 80 percent for listening and 20 to 30 percent for talking. Inevitably, someone brings up the overused saying about God giving us two ears and one mouth. Surprising to many, I fall on the other side of the fence. Even though I’m a huge advocate of listening, and I emphasize its importance, I don’t think setting unrealistic expectations is healthy or wise.
When I was first introduced to corporate America, I received some of the finest sales training that existed at the time. The company that recruited me out of college had a very dynamic sales manager who was a skilled professional who taught our sales team the fundamentals of selling, much of which I still utilize to this day. Nonetheless, one of the principles he taught that I later rejected was the 80/20 rule, which states that sellers should spend 80 percent of their time listening and 20 percent of their time talking. I took this rule at face value and tried to implement it. Within a few weeks, I realized it was a quixotic principle—noble cause, but unrealistic in application.
Instead of trying to live up to some listen-to-talk ideal, I learned that balance is the key. By balance I mean that listening needs to balance talking. Sellers should ask themselves, “Do I listen as much as I speak?” “Is my listen to talk ratio balanced?”
Figure 16.2
The Point? There is no exact listen-to-talk ratio. Our general rule is to listen at least as much as you talk. The listen-to-talk ratio should rarely fall below 50/50.
Dynamic vs. Passive Listening
An attractive woman once attended dinner with distinguished British statesman, William Gladstone. The next evening, she attended dinner with Gladstone’s political rival and equally distinguished opponent, Benjamin Disraeli. Asked her opinion of the two men, she replied thoughtfully, “When I left the dining room after sitting with Mr. Gladstone, I thought he was the cleverest man in England, but after sitting with Mr. Disraeli, I thought I was the cleverest woman in England.”
One of the benefits of being a good listener is making other people feel important. As noted author Dale Carnegie stated, “The secret of influencing people lies not so much in being a good talker as in being a good listener. Most people, in trying to win others to their way of thinking, do too much talking themselves. Let the other people talk themselves. They know more about their business or problems than you do. So ask them questions. Let them tell you a few things.”
There are two general types of listeners: dynamic and passive.
1. Dynamic listeners are focused, alert, and center discussions on the needs and interests of others.
2. Passive listeners are casual, indifferent, and focus discussions on themselves.
Obviously, dynamic listeners are better sellers. Using dynamic listening skills, they enrich and deepen sales conversations with strategic questions that motivate prospective clients to talk. Dynamic listeners also unearth more needs and problems to match to core competencies and proposed solutions. They generate more leads, qualify more accounts, make better presentations, and close more sales. Dynamic listeners are dynamic sellers.
Passive listeners, on the other hand, are not as successful as dynamic listeners because they fail to fully engage buyers and unearth important account issues or critical needs. Neglectful of qualifying accounts, they also fail to match core capabilities with critical needs. Because they are not patient, they interrupt buyers, jump in before knowing the facts, and engage in premature presentations. Not surprisingly, they tend to be arrogant “know-it-alls” who are condescending toward buyers. In short, passive listeners are passive sellers.
Caution! Many sellers are uncomfortable with silence. As a result, they start talking to fill the silence with noise. Resist this temptation. If you don’t fill the silence with “talk,” the prospect will fill the silence with valuable information.
Listening and Prospecting
The dangers associated with poor listening are too numerous to list and would be difficult to exaggerate. Poor listeners often do more harm than good. They actually turn buyers off by talking too much.
Many people seem to believe that a cold call is somehow separate from the rest of the selling process, but I believe that listening in the initial cold call is at least as important, and in some cases even more important, than in post-prospecting calls because the initial call sets the tone for the rest of the sale. It establishes expectations and forms the foundation of the buyer-seller relationship.
In Summary
Your ears will out earn your mouth.
—Jim Meisenheimer
The charge of the Light Brigade, in which the British cavalry attacked overwhelming Russian gunfire at the battle of Balaclava, was an extraordinary example of military discipline and valor. The improvident heroism, however, resulted in near total annihilation. Watching the doomed advance of his allies, General Pierre Bosquet lamented, “C’est magnifique, mais ce n’est pas la guerre.” (It’s magnificent, but it’s not war.)
In like manner, telling is not selling. Regardless of how brilliant, eloquent, or articulate a person’s words might be, if sellers neglect to listen and truly understand the needs and perspectives of buyers, they are destined to fail.
When engaged in a conversation, give prospects 100 percent of your attention.
Take notes, jot down questions, and concentrate on the conversation. When a prospect is speaking, let him or her know that you are listening with statements such as, “I see,” or “I understand.”
The number one shortcoming and inadequacy of salespeople is not listening dynamically. Instead, they engage in the traditional selling disease of “enough about you—let’s talk about me.” Be a dynamic listener by practicing “silent selling” skills and hearing the buyer out. Avoid the temptation to cut buyers off and jump in with capability statements. Don’t put the beginning of your sentence in the middle of the buyer’s sentence. Remember that consultative sellers are brisk and professional, not antagonistic.
The Point? A poor salesperson is a poor listener. A good salesperson is a good listener. A great salesperson is a great listener. Master sellers are master listeners.
Chapter 17
Turn Interest into Action
In 1518, commanding a fleet of eleven ships in search of gold and riches, Hernando Cortez left the island of Cuba to explore the coasts of the Yucatan Peninsula. During his exploration, he stumbled upon a sailor who had been shipwrecked on the peninsula coast some years earlier. The Spaniard told Cortez stories of a vast empire whose dominions extended into the interior of Mexico. The sailor also told Cortez that the empire was renowned for its vast amounts of gold as well as its brutality. Tales of torture and human sacrifice were rampant. A Mexican slave, who had been presented to Cortez as a gift from the natives, confirmed the shipwrecked sailor’s claims.
Cortez immediately changed course and headed straight for the coasts closest to the empire, eventually landing on the Mexican coast near modern day Veracruz where he unloaded his horses and supplies. He then made one of the boldest decisions in exploration history—he burned his ships behind him. There would be no turning back. In an effort to stiffen the will of his men, and to send a clear message of “do or die,” he eliminated any means of retreat or escape. Curiosity in gold and glory was suddenly converted into a firm commitment of loyalty and survival.
Using the shipwrecked sailor as a guide and the slave as an interpreter, Cortez led a small army of 15 horsemen and 400 soldiers up the steep slopes leading from the coast to the upland regions of Mexico. He marched straight for the heart of the Aztec Empire and prepared to do battle with the Aztec army. In one of history’s most extraordinary battles, Cortez overcame the crushing numerical superiority of his opponents and defeated an army of 40,000 native warriors with only 400 men. Aztec military leaders were astonished at the boldness of Cortez, the power of Spanish firearms, and the might of Spanish horses.
Although historians have questioned the recorded size of the Aztec army, none have questioned the courage of Cortez and his men. Still, Cortez’s boldest move was not attacking the numerically superior Aztecs but eliminating any chance for escape by burning his ships behind him. In dramatic fashion, he cemented the courage and commitment of his men with a clear and unmistakable message of “conquer or be conquered.”
Obviously dissimilar in fashion, but similar in purpose to the actions of Cortez, sales professionals should do everything in their power to gain a firm commitment from buyers. Those commitments can be large or small, but some sort of commitment or agreed upon action should always be obtained.
Advancing the Sales Call
Effectively closing initial sales calls is one of the most ignored aspects of cold calling.1 This is why the objective of every cold call should be to gain some sort of commitment to advance the sale—to get the prospect to take action including responding to an email, reviewing literature, setting up an appointment, or returning a call.
As previously addressed, the purpose of every step of the sales cycle is to advance the prospect to the next stage of the cycle. After a potential buyer takes time to listen, evaluate, and respond to your call, use a commitment-based close to advance the caller to the investigation or presentation stage of the sales cycle.
The Three-Step Close
There are three steps to a commitment-based close:
1. Quickly summarize the call
2. Propose Action
3. Establish the next point of contact
By quickly reviewing the major topics covered during the call, sellers ensure that buyers clearly understand the topics of discussion. With a quick summary, communication is increased and objectives, purposes, capabilities, and commitments are solidified.
Caution! Keep the call summary brief and to the point.
Proposing action between the buyer and seller is the most important part of the commitment-based close because in order to turn interest into action, some type of action must be initiated and agreed upon. For example, at the conclusion of the call you might establish an appointment date, or for qualification purposes, you might request that the buyer review your Website, respond to a forthcoming email, or agree to a follow-up phone call.
If you are unsure of the next best step, ask the buyer. You might say,
“Ms. Jones, earlier in the conversation we discussed some of the problems you are experiencing with X and how Y can potentially alleviate some of those issues. Help me understand what you see as the next best step.”
By involving the buyer in the commitment decision, you increase the probability of commitment fulfillment. Asking the buyer what “the next best step is,” is an extremely effective question. An equally effective question is “What do you want to happen next?”
After you gain agreement to a proposed action, establish the next point of contact. Avoid vague commitments to future communication such as, “I’ll call you sometime next week.” Instead, establish firm and specific dates, times, and locations for follow up. Don’t end a call without first determining how and when you will next communicate. Always establish the next point of contact.
Sellers who conclude their calls with the commitment-based close ensure the highlights of the conversation are understood, establish the next point of contact between the buyer and seller, and gain a commitment from the prospect to progress the sale.
Follow-up Confirmation Emails
Once specific actions have been decided, such as an appointment date or follow-up phone call, send an email to confirm the agreement. The confirmation email will remind the prospect of commitments, and/or agreed upon dates and times.
Note: Follow up emails should always be sent after a successful cold call—without exception.
Confirmation emails increase the probability of a buyer fulfilling agreed upon commitments (such as showing up for an appointment). They also enhance the credibility of the seller. Potential buyers are impressed when they receive prompt responses, thank-you notes, and reminders. It’s an indication of the professionalism and service they can expect in the future should they purchase the good or service.
Not only is it important to send prompt follow-up emails, it is equally important to promptly send any information that you promised to send the buyer. Remember that the sooner it gets there, the fresher your conversation is in the mind of the buyer and the more quickly the sale can be continued.
Caution! Confirmation emails should not be more than one page. Keep written communication as brief and to the point as possible.
Sample Follow-up Confirmation Email or Letter
April 9, 2012
Mike Ricks
Director of Sales
World Alliance
25 North State Street
Cupertino, CA. 84629
Dear Mike,
It was a pleasure to speak with you today. I’m pleased we had the opportunity to briefly discuss some of the ways that Patrick Henry International can be of service to World Alliance.
Enclosed is a pdf that introduces our services. For a more in-depth look at Patrick Henry International prior to our next appointment, visit www.patrickhenryinc.com, which has more information reg
arding our trainings and services.
I look forward to speaking with you at 9:20 A.M. on the 20th of April.
Regards,
Zac Fenton
Zac Fenton
Account Executive
Patrick Henry International
Phone: 1 (877) 204-4341
[email protected]
1. For a detailed discussion of professional closing methods, see The DNA Selling Method.
IV
part four
Rules of Engagement
18.Building Credibility
19.Cold Calling Behaviors to Avoid
20.Measuring Success
21.The Ten Commandments of Cold Calling
22.Implementing Power Prospecting Principles
Chapter 18
Building Credibility
Shortly after George Washington’s victory at Yorktown, Benjamin Franklin, an ambassador for the United States, attended a dinner of foreign dignitaries in Versailles. The French minister proposed a toast to King Louis XVI, comparing him to the moon. The minister of Great Britain, in like manner, proposed a toast to King George III, likening him to the sun. Benjamin Franklin then stood up and toasted “George Washington, Commander of the American armies, who, like Joshua of old, commanded the sun and the moon to stand still, and they obeyed him.”
Few figures in world history have earned or deserved the respect and admiration given to George Washington. He was the Commander-in-Chief of the Continental Army and the first President of the United States. He was also a surveyor, planter, and soldier, but, above all else, he was a man of great integrity.
Power Prospecting Page 18