There is an age-old, needs analysis question that sales people ask, but it hurts them more than it helps. In this episode of the Sales Management Minute, learn what that question is and why you should avoid it.
There are two types of sales. There’s the Takeaway which means prospects are buying from someone other than you. Oftentimes, the traditional seller focuses much of the conversation on budget to see if they can save the prospect a few shillings as a selling strategy.
The other sale type is Demand Creation where prospects are not using a particular product or service today. There is no budget in place … no dollars to reallocate. Once upon a time, every Takeaway deal was a Demand Creation one. There was a time when not everyone had a car … or owned a cell phone. The Demand Creation sales person has to position those as must haves for prospects to buy.
Curiously, once an industry shifts from demand creation to takeaway, the selling approach changes to one based on What’s your budget?! It’s the worst needs analysis question! What’s your budget? puts up fences unnecessarily. Every one of us has purchased things that were not in our budget or were priced well-beyond what we had planned to spend. We just had to have it! Maybe, it was your flat screen TV or iPad. It’s the role of the sales person to help prospects recognize that they absolutely must have this right now.
It’s the two most powerful words in sales that help you do that…Synergy and Priority. Synergy is the connection between prospect needs and supplier capabilities. Priority answers why the prospect should pursue this solution right now. Master the two most powerful words in sales and you will never focus your conversation on budget again.
See you next time on the Sales Management Minute.
Lee B. Salz is a leading sales management strategist specializing in helping companies build scalable, high-performance sales organizations through hiring the right salespeople, effectively onboarding them, and aligning their sales activities with business objectives through process, metrics and compensation. He is the Founder and CEO of Sales Architects, Business Expert Webinars and The Revenue Accelerator. Lee has authored several books including award-winning, best-seller “Hire Right, Higher Profits.” He is a results-driven sales management consultant and a passionate, dynamic speaker . Lee can be reached at lsalz@SalesArchitects.net or 763.416.4321.