Viewing Posts for: Paula-Jayne White
Consultative Selling Process: Resolving Objections about the Economy
A Sales Professional who recently completed a Richardson Consultative Selling course wrote in an e-mail:
“Dear Richardson Team: I have been enjoying success in applying the Consultative Selling Process in my work with clients, and I definitely think my skills have improved since I completed the training! I especially learned a lot from the model for resolving objections. But, I am running into one big challenge that I can’t seem to address: my clients are STILL objecting that the economy is down, which is why they can’t move ahead on opportunities. With all the economic indicators pointing to an improving economy, I just don’t know how to resolve this objection. I can’t very well tell them they are wrong about the economy, but what else can I position in response? Please help.”
With the volatility that the financial markets have shown over the past 15 years, it is no wonder that decision makers across a broad spectrum of industries would continue to show concern about the economy and take a conservative approach to spending. Even as the economy continues to improve, companies still may remain cautious about choosing investments and expenses wisely for fear of another economic downturn. There is good news, however, because the key to addressing this situation is already right in your hands: the Consultative Selling Process.
Sales 101: Five Techniques for Positioning a Price Increase
Karl is a Sales Professional with McGinniss and Company, a leading supplier of raw materials to manufacturers. For 15 years, Karl has been using Sales 101 techniques to build strong relationships with clients, despite a volatile economy that has driven prices down and materials costs up.
Fortunately, the economy is improving, and McGinniss is seeing the benefits through increases in sales as high as 10% in seven of the last eight quarters. As a result, McGinniss is now in a position to implement price increases for the first time in seven years.
Karl doesn’t know what to do.
Like many Sales Professionals in the volatile economic conditions of the 21st century, Karl has never had to communicate price increases to his clients. Lacking experience in positioning a price increase, he is afraid of weakening the strong relationships that he has developed, or worse, losing clients by delivering this difficult message. However, for Karl, as for many Sales Professionals, economic growth is making price increases inevitable.
Fortunately, it is possible to maintain strong client relationships in this situation by following five techniques borrowed from Sales 101 for leading a consultative conversation about price increases:
1) Know the reason for the price increase. There are a number of reasons for increasing prices. For example:
Your costs (materials, labor, facilities, etc.) have increased. The original » Continue Reading.