Beat Quota

Buy or Lease ???

Have you ever asked a prospect whether they wanted to buy your product outright or lease it and they told you to give them both options?

Then you asked them how long they wanted the lease for and they told you to give them the different options.

When this happens, either you didn’t do your job (if you are dealing with a decision maker) or they didn’t do theirs. (if you are dealing with an influencer)

You have a problem here that is much bigger than you know. Your prospect now has a decision that they are not qualified to make. You need to treat this situation just as would if they were not sure which of your products they felt best fit their needs. Continue to ask questions and don’t be afraid to ask the hard ones. First, you need to zero in on the cash purchase option and ask them if they have cash available / money in the budget to pay for the item(s). Ask them if spending that money will still leave enough on hand to cover any unexpected expenses or downturns in their business. Ask them if there is a better use for the money that may increase their sales, such as marketing or advertising. If they convince you that they are prepared to pay cash then remove the lease option from the equation and get them to agree to pay cash for whatever product they choose.

If the are hesitant to commit and convince you that they are more than able to pay cash you need to explain to them why most people lease. Go through all the benefits of leasing including the tax benefits, preserving cash, easy budgeting, etc.

Next, establish a useful life for the product. 3 years, 4 years, 5 years. How long have they used the product you are replacing? How long do most people lease for? Get them to agree on a realistic lifespan. This is the only term of lease you should quote.

Proverbs 10:4-5:(KJV): "He becometh poor that dealeth with...

Proverbs 10:4-5:(KJV): "He becometh poor that dealeth with a slack hand: but the hand of the diligent maketh rich.

5 He that gathereth in summer is a wise son: but he that sleepeth in harvest is a son that causeth shame."

Sales Rep Performance Analysis

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Buyers are Liars

We are taught from an early age to lie. Our parents even teach us the varying degrees of truth. We learn about “White Lies” and “Little White Lies” which are OK to tell. When we visit Grandma and she asks us how we like dinner, we learn to lie and tell her that we like it, whether we do or not. We smile and tell Aunt Stella how much we enjoyed the new socks and sweater she gave us for our birthday, when we really wanted a new baseball or a toy truck. These lies are acceptable.

As we grow up, our occassion to tell lies continues. We walk into a car dealership with the intention of buying a new car by the end of the week, but when approached, we lie to the salesperson and say: “No Thanks, I’m just looking.”

As a sales rep, you must understand this when you prospect and during the sales process. Your prospect was taught by his or her mother to lie.

Remember: It is OK to lie if telling the truth would hurt someone’s feelings.

New Rep Ride Along

When taking out a new rep on a ride-along, please be sure you are prepared for a full and productive day.

At least one scheduled appointment. Two is best. One morning, one afternoon.

List of customers and prospects for drop-offs and visits.

50 or more flyers printed and ready to go.

Target high-density areas to blitz with flyers / cold call.

Work target area together until new rep is comfortable with the process then split up to pass out as many flyers or hit as many accounts as possible. Finish last section together to see how they did on their own.

When you return to the office, input business cards into Account Management software, send follow-up emails, and schedule future call. Sit with rep and have them do a few themselves so they learn the process.

Any follow-up activities from the day’s appointments should be done with the new rep in the afternoon. This includes turning in paperwork, preparing a proposal, scheduling next activity, etc.

A Man on Fire

If you encountered a man that was engulfed in flames would you waste his time and yours discussing the benefits of fire safety or would you put out the flames? Of course we know your answer, but in sales we do the opposite every day.

When is the last time you watched a prospect's eye glaze over partway through your presentation? Or the last time you left an appointment feeling great only to find out later that you can't get the prospect to return your calls?

You may have been selling "Benefits and Solutions" for someone who was in the market for a product. They already knew what they wanted or needed and rather than selling it to them, you used your allotted time to convince them of something they were already committed to. Buying the product you sell!!! Unfortunately, you lost them. You wasted their time. You wasted your time. And the first person to walk in their door ready to sell will get the deal.