When I talk to sales organizations I give my definition of sales, which is a bit different than the one you would find in a dictionary. A sale is the actual transaction, where "sales" and "selling" are the steps that lead up to that transaction. You see, sales is trying to convince, cajole or urge someone to take action now, not later. Also, there does not need to be a monetary goal at the end of the process.
Think of a college basketball team. The freshmen, who have come from different high schools with different coaches, are now playing for their new coach, who has a specific game plan in mind. He has to convince his new players (we're assuming that the upperclassmen have been convinced) to "buy in" to this plan so they are all on the same page.
Anyone who has tried to talk a co-worker into trying a new way of doing things or tried to convince a toddler to eat their vegetables is "selling". In other words, we all sell.
But the part of this definition I want to discuss in this post is the "now". Asking a 3 year old to eat his spinach tomorrow won't do us any good, nor will telling the basketball players to play the way they did a year earlier. "You guys can do it my way next year" isn't the answer.
So how do we, as sales professionals, convince people to take action now and not later? The easy answer is to create a sense of urgency. This can be done in a variety of ways, but the most common is to let the client know that the price can, and most likely will, go up sooner than later.
As an insurance agent I always tell people about the "cost of waiting". People love to put off buying life insurance, for example, but by doing so they actually spend more money. And if they have an unexpected health event, like a heart attack or cancer, the price can be astronomical. Relating this kind of information to your prospect is of utmost importance.
We all see commercials on TV for car lots pushing some sales "extravaganza" and the announcer screaming "These prices aren't going to last!"* By creating a limited time offer they are creating a sense of urgency.
Realtors have a great advantage when it comes to this because no two homes are the same (unless the homes are in a "cookie cutter" subdivision). If the sales rep recognizes that the buyer is really interested they can say "I don't think this one will stay on the market very long."
Of course, the client loves to give excuses. "I need to talk to my spouse" and "I'm waiting for the lottery" are just a couple. I can't tell you how many times I've had the same client reschedule an appointment due to "It's just not a good time".
The best way to incentivize your client to move quickly is to let them know from the outset that it's important to move now. Let them know that things changes, like prices. Keep that message in their mind during the entire sales process. By communicating the value and importance of your product or service from beginning to end you will light the fire that can keep your sale alive and not in a "call back" file.
*Why do they feel it's important to yell?
Chris Castanes is a professional speaker who helps sales people succeed through workshops and humorous presentations. He's also the author of "You're Going To Be Great At This!", a humorous look at sales. For booking information, click here. He's also the president of Surf Financial Brokers selling life and disability insurance in several states.
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