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Can Business Be Emotional?

Last Friday's poll asked you to rate the percentage of emotional and rational aspects of corporate decision-making. Our rational brains may think the correct percentages are 70% rational and 30% emotional. But guess what? Behavioral economics suggests that, in reality, business decision-making is exactly the opposite: 70% emotional, 30% rational.

Behavioral economics studies the effect of emotions on business. And some of the things that have been uncovered with behavioral economics are pretty amazing. For example, people tend to feel more pain from losing something than pleasure from gaining an equal amount (remember losing the "big game" in high school or college?). Along the same line, people tend to make decisions more quickly to escape pain than to realize gain. Yet one more example: people tend to demand a higher price to part with something they currently own than they were, or would be, willing to pay for it to begin with. Do any of these sound rational...decisions based on processing a bunch of information? Or do they sound emotional...decisions based on something that is felt or experienced?

Our emotions play a huge role in making not only our personal decisions, but business decisions as well. And if you know this, as a sales, account development, or marketing professional, your messaging changes significantly. Less important is cramming a bunch of numbers and information down your prospect or client's throat, so that they can make a rational decision. Much more important is finding out the things that keep them up at night – their pains – and providing solutions to those pains, so they can make a decision that gets them out of their pain...an emotional decision.

When you prepare for your next prospect or client appointment, or prepare your next marketing campaign, take some time to think about the audience you'll have. What are the pain points they'd love to solve? Then craft a conversation that describes for them how you can help them escape that pain. You'll be leading them to a much quicker decision – and a decision for you.

jkl

Fast Forwarding the Client to Get a Decision - Part 3

This is Part 3 in the three-part series on one of the most popular strategies in my Consultative Closing  concepts...called "Fast Forwarding" (the first 2 segments are under "Fast Forwarding" in the Categories listed in the right hand column). This strategy is used when a salesperson is faced with a potential client who wants to wait a few weeks, months, quarters or even years, before making a decision on the salesperson's product or service.

In the first part I covered some of the benefits of "fast forwarding" the client, as well as the first steps in the process.  The second part covered How to Fast Forward the client (the action steps and the language I like to use).  In this final part I'll cover How to Get the Client to Either Take a YES or NO Action on a Mini-Step...and How to Deal With Either Response.

As I stated in Part 2, the skeptical mindset is the winning mindset in sales because it's closer to the reality of the client's mindset.  Unfortunately, most salespeople are afraid of being skeptical because they haven't done enough prospecting in order to get enough "irons in the fire", and they feel forced to live in a fantasy world about the few prospects they DO have vs facing the reality of the situation...and the reality is that 90% of future "sales" don't ever happen...AND THAT'S WHY I'M SKEPTICAL FROM THE START.

Being skeptical by the way doesn't mean I'm being negative, or angry, or bitter, or demeaning...it just means I don't act like an excited puppy and run after every false-positive "bone" a client wants to throw me early on in the process.  When you operate from a skeptical mindset you don't see everything through rose-colored glasses...you instinct is to "test" what you're hearing through fast-forwarding the client to the point of decision on an identified Mini-Step.

This is another one of the magical elements of the Mini-Step process, which I introduce at great length in the book, "Consultative Closing"...when you have identified several steps in the sales process, you have a few early, non-binding, "safe" (in the client's eyes) steps you can ask the client to either take (or not take) in order to get at the reality of the situation.

Here is how this process may sound:

Client:   Well, I think we MAY look at doing something, but not for a few months...

Salesperson:  I see...(clarifying) ...now when you say may "DO SOMETHING"...what exactly does that mean?

Client:   I guess it means we'll give it some consideration down the road...

Salesperson:  Let me ask you this...(fast forwarding)...let's say it was a few months down the road, and you were looking at this exact proposal, would you buy it (YES), or lean toward not buying it (NO)?

Once we've fast-forwarded the client to a future point in time and we've asked for a YES or NO answer, we need to know the next steps depending on the answer:

• If you get YES...Take action on one or two Mini-Steps

  • Client:  Well...we'd probably buy it...

    Salesperson:  Okay...in that case, let's do this...we need to go ahead and take action on at least getting your credit ap in and get you scheduled for initial training (both Mini-Steps)...

• If you get NO...don't pretend the client is positive, GO TO NO and "Hop in the Ugly Pond" (both strategies from my book, Consultative Closing):

  • Client:   Well...we'd probably lean toward not going it...

    Salesperson:  So basically we're at a NO, right?  And to me, my sense is that you're still struggling with our XYZ solution (hopping in the Ugly Pond)...what are your thoughts on that?

• If you get MAYBE...assume NO and try pulling the client in that direction...and maybe do a "Zero to Ten" close

  • Client:   Well...I don't know...I guess we'd still be interested....

    Salesperson:  I appreciate that...it sounds like timing isn't so much the issue as much as deciding whether you even want to do this or not...sounds to me like, though you like some of what we're offering, you've got some issues about moving forward...let me ask you this...on a scale of zero to ten, with zero being you don't want to do this at all, and ten being you do, where do you think you are...

Fast-forwarding is a very effective tool for making the sales process more profitable and productive, and in a shorter amount of time!

GB

Fast Forwarding the Client to Get a Decision - Part 2

This is Part 2 of a three-part series I'm doing on one of my favorite strategies I use when coaching my Consultative Closing  concepts...I call it "Fast Forwarding".  This strategy is used when a salesperson is faced with a potential client who wants to wait a few weeks, months, quarters or even years, before making a decision on the salesperson's product or service.

In the first part I covered some of the benefits of "fast forwarding" the client, as well as the first steps in the process.  In this segment I'm going to cover How to Fast Forward the client (the action steps and the language I like to use).

If we remember that 90% of what clients say "might happen" at some point down the road, will most likely never happen (just my estimated number from experience as coach and trainer)...we can approach the situation from a skeptical, rather than overly optimistic (aka rose-colored glasses) viewpoint.

I've got to tell you...one thing I've learned in nearly 20 years of sales training and coaching is that the skeptical mindset is the winning mindset in sales.  The more leery you are about false claims and promises, the more realistic you become and better equipped to get at underlying issues the client may be feeling vs accepting pretend positive "bones" they love to toss our way.

Being skeptical is at the heart of the Fast Forwarding concept, because we're going to move into that future time when the client is supposedly going to "look at working with us", and if they won't take action or give us a lukewarm response, we need to help the client move toward the reality of NO, and the issues that lie beneath.

Here is How Fast Forwarding Sounds:

Client:   Well, we may look at doing this in a few months...

Salesperson:  I see...let me ask you this, let's say it is a few months from now, and you're looking at this exact proposal, what would you do?

Client:   I'd definitely give it some strong consideration...

Salesperson:  (skeptical mindset in place)  My sense is that you'd lean more toward NOT doing it than doing it, how accurate is that?

Client:   I don't know if I would say that...I like a lot of what you're talking about here...

Salesperson:  I appreciate that...however, there are some things you're NOT 100% certain on, right?

We are basically trying to get at the underlying issues that may be there now, three months from now, or three years from now.

You can also use Fast Forwarding to get the client IN THEORY things they're looking for...for instance  approval from a 3rd party, or information from a source.   What we're doing here is fast forwarding beyond the point of attaining the "thing" they're waiting for.

Here is what this sounds like:

Client:   Well, I would like to talk to my department head since she is the one who will be using this on a daily basis...

Salesperson:  I see...well, let's assume you talk to your department head and she is on board with this option...then what would you do?

Client:   At that point, I'd look at it again...

Salesperson:  (Being skeptical)  I appreciate that...it sounds like to me that even if your department head likes it, you're still not at 100%...is that fair?

Kind of sounds funny to be skeptical all the time, doesn't it?  Well, that's what makes my approach to selling so different...I focus on REALITY over spin.  And reality is usually much closer to NO than it is to YES. 

Keep in mind that just like in Embracing NO (one of the core concepts of my book Consultative Closing and a staple in my teaching) I have no intention of stopping at NO...it's just a momentary resting point as I rock the car back and forth out of the snow.

In the final part in this series I'm going to talk about getting the client to take action (or NOT) once we've Fast Forwarded them to the future. 

GB

Fast Forward the Client to Get a Decision - Part 1

This is Part 1 of a three-part series I'm doing on one of my favorite strategies I use when coaching my Consultative Closing  concepts...I call it "Fast Forwarding".   This strategy is used when a salesperson is faced with a potential client who wants to wait a few weeks, months, quarters or even years, before making a decision on the salesperson's product or service.

Here is what that normally sounds like:

Client:  "I'm not really ready to decide on this right now...why don't you circle back with me in a few months and we'll see where we are"

Salesperson:  "Uh...okay...are you sure we can't get started now?"

Though the salesperson tries to get some action now...the client just wants to wait.  Typically this salesperson will accept it and gladly add the client to the "pending business" report and tell their sales manager that it "looks pretty good".

The problems with accepting the "future sales" story:

• Clients are deceptive black-belt ninja killers when the sales clock is on...they have no problem lying about their intent just to get rid of the pressure of the sales call...
• Most (I'd say 80 or 90%) of "timing" issues have nothing to do with timing, but with other, deeper issues, the clients would rather not discuss (too much conflict)...they'd rather throw us a positive bone about some possible future sale than they would bring up something that could cause conflict...

Fast Forwarding is the practice of hitting the advance button and taking the client to that place in time when a decision WOULD be made, and asking them how they feel about it (more on that step and the wording in the next part in the series).

The Benefits of Fast-Forwarding the Client:

• You will shorten the sales cycle...
• You will remove "dead beats" from your pipeline much earlier and get on to better opportunities...
• You will get real clients to take action sooner and get them "off the streets" and away from other competitors...

First Steps to Fast-Forwarding:

• Understand who you're dealing with and the typical client's tendency to give false-positive answers...
• Have your "Mini-Step" process identified...yes, even steps that could be taken 4 or 5 months out...
• Be very skeptical of a future pretend world where you might do business with the client... this skeptical mindset will get you drifting toward the NO side of the equation (where clients usually are) and get you much closer to reality (with reality will come "issues"...with issues will come either turning them or burning them as a client...

It's time to wake up people...90% of "future sales" don't ever pan out...and the reason is because it has nothing to do with the timing...whether next week, next month, 3 months or 3 years from now...the client has issues and unless we get at the issues, we'll never close the sale.

In the next segment I'll review HOW to Fast Forward the client, and the final segment will be on how to deal with the outcome to a Mini-Step closing question.  I will have both segments posted within the next few days, so please check back.

GB