My previous blog had the ‘Sales Cycle’ laid out the sales process in detail. The proven sales process can be cast in stone for a lot of salespeople getting a foothold in the industry. While we are focused on the bigger picture, we have to be careful of the smaller aspects of sales too. One such thing is the reliance on assumptions. Do note that with the long drawn sales cycles of the Information Technology industry, the chances of a deal fizzling out due to a bad meeting or two becomes a real possibility. Most of these bad meetings are due to certain assumptions that you take for granted. Some of the below will help you with a reminder for your next meeting:
1. They have the same information as I do
They don’t. No one does. Even within your own company you’ll find people working in the same department having different levels of knowledge on the same subject. In such a situation expecting the prospect to know everything you have to offer can be a recipe of disaster. The prospect has very limited knowledge about the technology, let alone the solution that you are selling. It’s always important to keep this in mind while explaining yourself.
2. They realize my value
This value can be either you or your company. Unless you’ve been working with the same customer for many years, the notion that somehow the prospect will know your value because they have done their research on you and your company is a non-starter. Your job as the sales professional is to convey the value to your prospect. This is where you take the opportunity to nurture your lead and let them on a pathway of getting comfortable with you and your solution.
3. They are able to understand phrases and acronyms exactly as I do
I have been a victim of this myself. In my early career days, I have been a part of meetings in which the seasoned folks would come and throw around jargons and acronyms and I as a junior associate would sit and only wonder what was being said. Over time the situation got better, but that is something I constantly have to remind myself to not subject other folks to. Any acronym should be broken down unless you know for a fact that everyone in the audience is aware of the actual meaning and the context. This isn’t the case when you have this discussion with the prospect. In these scenarios you should almost always expand the acronyms and phrases to clear out any ambiguity. Remember like the young associate as I was who didn’t want to interrupt the meeting to ask for clarity, your prospect might do the same. Only in this case, you’ll end up losing the deal as the prospect might not give you the next meeting to explain.
4. They want to see a demo right now
We, in the corporate world, are mesmerized by demos. There’s a good reason for it too. Most of the time we are presented with decks and presentations which are just that – presentations and not actual solutions. So, whenever someone shows a demo, we are instantly impressed because it represents a real solution. The same mindset is taken over to prospect meetings as well. So given a chance, we’d like to produce the demo to the customer as that would make them fall head over heels with us. The issue with that is, is that the prospect isn’t always looking for the demo. Maybe they are not convinced about that being the right solution for their problem. They are wondering if you have the team that’ll help them build the solution for their company or they might be still evaluating if you should be invited for the bidding proposal. How do you know when to present the demo then? You ask! Like you would for most of the statements being listed out here. Demos are quite interesting and intriguing for anyone provided it’s the right time for them. So don’t assume on behalf of the customer. If they are in front of you, be forthcoming and check if it’s a good time to go ahead with what you believe they have in their mind.
5. They’ll read what I give them, and remember to tell others
Good luck with that. In fact turn the question around to yourself and recollect how many attachments do you open a day. Majority of the attachments shared as part of an email never get opened. Unless you are the only option (which is never the case) and they have to close the deal as soon as possible, be prepared for the prospect not even opening your email. Following up on your emails and interacting frequently with the customer is the key.
6. They’ll show my slideshow to others which will lead to new meetings
Prospecting is what will lead you there. The only reason which can push them to do this listed in the paragraph above, barring which it is quite reasonable for the prospect to forget you as soon as you are out of sight. Expecting the prospects to do your job for you can keep you happy for a while but it won’t get you any business.
7. They know how to influence others and they’ll champion this deal for me
In some cases they will. In most cases, they won’t. You have to remember that the prospect doesn’t do this for a living. The reason they are reaching out to you (or vice versa) is for you to help them out. The influencing and the convincing is where they are banking on your expertise for. Unless you are interacting with a prospect who is quite high in the chain of command, the chances are that you’ll have to coach your prospect in order for them to sell the deal internally to your organization.
8. The sale is moving along
That’s what any sales person would like to think. But the way to know that for sure is by checking along with your prospects on what the next steps should be and when. In fact the rule of thumb is to consider the sale dead if there isn’t a time oriented next step. For the sale to keep moving along, the sales professional and the prospect have to be both involved. If the prospect is giving you a cold shoulder or doesn’t have an action plan for the next stage, you can consider the deal to have hid a roadblock.
CONCLUSION
All the assumptions listed above are the ones sales people grapple with on a daily basis. Some of the assumptions are true and get acted upon by the prospect. But the critical point to take away from here is to continuously evaluate the situation and be prepared to nudge the process along rather than expecting someone else to do it for you.
