A few weeks ago, a colleague (Cathy) and I were prepping for a meeting with a respected business development executive for a large financial services firm. Cathy was eager to make this prospect a client, hoping it might lead to an eventual corporate-wide training contract for both of us. Prior to the initial contact, she stated her intentions out loud to ensure I was clear on her goal. Pinpointing a desired outcome and subsequently saying it out loud (or even writing it down) creates a mindset that can improve the chances of your goal coming to fruition. In the context of a sales situation, it reminds you to stay on high alert for opportunities for converting prospects into clients. That said, going into your initial meetings with this particular mindset has the potential to sabotage the very thing you most want.
It goes without saying that one’s mindset affects one’s behavior, and ultimately, one’s outcomes. By training your mind to focus on the sale, you are hard-wiring yourself to persuade prospects to believe they need your product/service. What eludes salespeople is the fact that consumers also operate with a mindset that goes like this: “Salespeople are self-serving and manipulative; they always want me to buy something—even if I don’t need it.” As such, consumers are hyper-sensitive to “being sold” which creates a conundrum for the salesperson. On one hand, you are trained to put the needs of the customer above your own. On the other hand, you’re hard-wired to be ever-vigilant for sale opportunities. It’s important to realize that whichever mindset you truly embrace is the one your prospect will sense. Here’s what I mean.
You might present a fact finder or questionnaire to help them (and you) determine if they need your product. Or you may decide to share your personal journey of coming into this particular business, knowing the story conveys your passion for helping others. Or you might share a few examples of how you’ve helped people in the past with the same needs as your prospect, imagining this will add extra credibility to your claims.
Do you see how these seemingly-innocent techniques can come across as self-serving? More than likely, by seeding your mind with “I want to land this client,” you’ll be influencing the aforementioned techniques.
If you want to do right by the prospect from the very beginning, I suggest adopting a hard and fast desire to have clear answers to the following questions: 1) Is this person a good fit for me, for what I do, for what I offer?, and 2) How can I help this person?
Having these questions as your point of focus will drastically affect the entire experience. Here’s how it works:
Exploring For Fit
If your product/service is a good fit for your client, and vice-versa– there is no need to do any persuading. Like any relationship, there always exists a natural desire for each party to either want, or not want, to work together.
Here are 4 specific criteria for determining a mutual fit:
Personal Fit
In a recent study by AT&T, 50% of customers said the #1 reason they would continue to purchase products from a company was due to a positive sales experience. This includes how simple it was to access online information about the company, ease of the overall purchasing experience, and of course, the quality of interactions with the sales rep. Obvious ways to achieve that effect include: being kind and courteous, following up, listening deeply, fielding questions in a professional manner, making yourself accessible, etc. (The list is almost endless.)
Equally important is for you to consider how you feel about them. Typically, if you’ve got affinity for the person you’re interacting with, you’ll be warmer, more relaxed, and you’ll find it easier to provide your best listening—all of which affects your body language, your speech, and your basic demeanor. (Plus, who would you rather work with? People you find compelling, or individuals who annoy you?)
Developing criteria, and subsequently screening for ideal personality traits is a great first step. For example, do you prefer to work with someone who is the consummate professional, or do you prefer a more salt-of-the-earth personality? Something also to consider during this stage of determining a good fit is: traits to avoid, such as know-it-alls, or give-me-the-lowest-price-no-matter-whats. This first fit is important, but you need more information to determine if it makes sense to engage them as a client.
Business Fit
To better understand your preferences in this stage, take the time to pinpoint what types of businesses, organizations, positions, professions, etc. could use the services you offer. Think of it as preferences within your target market. Once you have pinpointed your preferred customers in this category, get very specific with the criteria. You want a clear distinction between those who could be a good fit, and those who are, in fact, ideal. We call this your Bull’s Eye Market. For example, your company might be able to work with regional full service law firms, but working with boutique law firms is where you really shine. Having an exclusive focus in a particular market segment makes it easy to determine if a business falls in your Bullseye Market—or not.
Your would-be clients benefit from this approach as well because the longer you dedicate time and effort to your Bull’s Eye Market, the more expertise and industry wisdom you glean. This insider knowledge means you truly understand the ins and outs of the prospect’s business and marketplace. This helps them feel confident that you are the right person for the job.
Needs and Wants Fit
Once the first two fits are mutually agreed upon, this is when you must transition to discovering the prospects’ needs and wants, and then determine if they’re in the realm if what your company are best positioned to provide. This also requires a ready willingness to refer them to someone who is better suited, if that is, indeed, the case.
Obtaining this level of information willingly and ethically takes time and practice, and usually transpires over the course of several meetings. (Our e-Class on Asking the right questions and offing the right advice, coves this in greater depth, and might be useful to you.)
Unparalleled Value Fit
Unparalleled Value is something we’ve been preaching for the past few years. Basically it’s what you, your organization, and your product bring to the table that’s unrivaled in your industry. (More on how to do this here.) Hands down, this is the most important stage because, in today’s marketplace, competition is ridiculous, and client loyalty is at an all-time low. You must be able to identify and intelligibly communicate what sets you apart in a manner that is meaningful, relevant and useful, or they will not buy from you. There is a caveat, however: They’ve got to come to this conclusion without being coerced or pressured. Their decision to go with you must unfold naturally over the course of your interactions with them. Once these 4 fits are satisfied, closing rates typically jump to 90%—not not due to the clients being “sold” on an idea, but rather, on their clearly recognizing your company/business as appropriate to their needs.
Lastly: Always be helpful.
Adopting an exploring for fit mindset during a meeting results in a very different course of actions, one that requires having the client’s best interest at its core, and goes hand in hand with the guiding principle to always be helpful. This acts as a through-line during all of your interactions. (Here is an in-depth article on this topic.) Implementing it is simple. Always be on the lookout to help your clients in ways that aren’t self-serving.
You might act as liaison to professional and personal contacts whom this person would benefit from knowing. You could offer free industry advice, or suggest an online service that might save them time or money. Or, it might be as simple as directing them to a great book you think they’d enjoy. Most importantly, if you discover you are not a good fit, act with integrity by referring them to other professionals and organizations who you feel are a better fit even if they are a competitor.
Bottom line, when you embrace a mindset of wanting to ensure fit and combine it with searching for ways to be authentically helpful, it drastically changes the quality of the interaction. It also ensures you are working with great fit customers and that your prospects are placed with professionals who are best suited to address their unique situation.
Once you’ve mastered this approach, Imagine what would happen if you passed on what you’ve learned to other salespeople, and how it could revolutionize the way consumers perceive and interact with our industry!
