7 Tips For Killer Sales Presentations
Published July 4, 2011 | 
Are your sales calls compelling and generating “buy” decisions without a sweat? Or are they unfocused, inefficient, meandering sales calls, where you’re not even sure you’re getting the sale till the very end? Excellence is achieved when your presentation is client-focused rather than vendor-focused.
• Do your homework: Know why prospects should buy from you. Before the sales call, identify what information you need about the buyer’s current situation to determine the need for your product/service. How is the current solution inadequate? What pain does the prospect experience which a better solution could alleviate? What benefits would the prospect like to get from a new solution? Which gains would motivate the user to take the risk and start using your product?
Ideally, you know all this before the sales call, so you can use the initial client-focused Needs Assessment stage to validate assumptions. Remember, people buy for both rational reasons (it’s a better product) and emotional reasons (I feel this vendor is really going to support me as our needs change). While validating the assumptions, you need to help the prospect feel the current product’s pains and appreciate the gains that an alternative product (yours) offers.
Since it’s rare to have all this information available before the initial sales call, your real homework is to be prepared to collect it quickly at your initial meeting. This means you need to analyze your other customers’ experiences and develop an educated guess as to which pain and gain points are most applicable to the prospect. Write out a list of the issues you want to explore in advance of the meeting, so you know which ones to ask. There’s nothing wrong with having the Needs Assessment Form in front of you to guide you; in fact, in fact it sends a message of professionalism and thoroughness to the prospect!
The order of the questions is important – because they form the basis for building a persuasive presentation. As you comment on the prospects’ answers, noting how your product avoids pain points and offers the desired gains, you’re building your case. The goal is to make the case cumulative and overwhelming – that you have a solution which will eliminate many nasty pains and/or offer sought after gains.
• Organize your Competitive Advantages, so you can present them in an order which brings the client to the natural conclusion: if the vendor’s products can really do all these things, then we really should be using the product! This means you need to know your entire product’s Competitive Advantages, group them by those that go together, and present them succinctly and powerfully. Remember, a truly client-focused presentation means only presenting those which matter to the prospect. WINning means knowing What’s Important Now.
• Build trust and confidence as you tell your company’s story. Nothing speaks like success, and relating relevant case studies make your points most effectively. The key is to demonstrate not just what your company did, but how it did it, because what the prospect is buying is your ability to analyze problems and solve them in the future. So while having a great client list and testimonials is very useful, demonstrating how you went out of your way at 10PM to save the client thousands of dollars is what builds confidence that you’re the ideal vendor.
• Counterpunch your competition, without ever bad-mouthing them, so the prospect appreciates your Competitive Advantages. For instance, if responsiveness is an important feature and your company is the only 24/7 operation in the industry, you can counterpunch the competition. “Many companies say they’re available 24/7 to take your calls; that means they are taking your call and passing on your request for help to the morning shift. Our firm is open 24/7, which means our technicians are there to solve your problem, even at 3 AM.”
• The Demo is really a Proof-of-Concept. You should start the demo after you have a “conditional sale”, meaning if you can demonstrate that your solution actually does all the things you said, the prospect will buy. It’s your chance to reinforce the most important buying points you’ve already made! (Unfortunately, many sales people think that they are supposed to make their entire presentation during the demo; this makes the sales demo take too long, especially as there are natural interruptions and waters down presentation’s impact.)
• Don’t let your sales kit distract from your sales pitch. Have your sales kit available, but give it to the prospect when looking at it won’t distract him/her from listening to you (e.g., at the end of the sales call). Often a good strategy is to let the prospect see it and know you will give it at the end of the sales call.
• Ask for the sale. Know what next step you want to take. If you’re selling a product, which will require another meeting with people, be prepared to tentatively schedule the follow-up meeting immediately. If the next step is to do a test, set up a time to begin the test and an estimated time schedule for completing it. If the next step is to have the person sign on the dotted line, don’t forget to bring the contract and a pen!
Cross-Cultural Communications
Published June 27, 2011 | Think of all the miscommunications you experience in an average week – and realize that most are with people who share your culture. You can then appreciate how much more complex it is to be an effective communicator in a world where we interact with people in China, India, Latin America, Russia Mideast, etc. who don’t share your cultural norms and business traditions.
Different cultural values, beliefs and norms
Every culture has its own set of shared values, beliefs and behavioral norms. For instance, while Americans generally value individualism/independence, focus on time to control the future, tend to be direct, open, honest and practical, other cultures are more concerned with the group’s welfare, respecting the past, people’s rank and status, indirectness and ritual. People’s value of time, deadline, accountability, etiquette when engaging others of differing ages and characteristics, all impact on direct and indirect communications, relationships, decision making, motivation, leadership and organizational structures. Most of us develop our personality and communication styles as we grow up within our culture. But when we interact with people from different cultures, conflicts can occur unless each party is sensitive to the cultural discrepancies and language differences, and adjusts to them. For instance, when doing business with people in India, it’s advisable to be properly attired (wearing non- leather products), avoid beckoning with the palm up, wagging a finger, whistling, winking or pointing one’s feet at a person, and know when and how to use words like “no” and “thank you”.
Each medium has its own communication dimensions
In face-to-face situations, what you say, how you say it, your physical appearance, body “language”, listening skills, and manner of response all play a role. In phone conversations, the importance of verbal and listening skills is magnified, because there is no visual feedback. In e-mails, the power of each word or phrase, the document’s organization and formality, response time, and how you use technology (e.g., instant messenger) all have meanings. Finally, how each party interprets the use of the medium is based on cultural values (e.g., urgency and importance), also determines the impact.
Are You Perfect?
Published May 9, 2011 | If you’re like most people I know, you’re not perfect – and therefore susceptible to the common causes of failure.
In business strategy and leadership courses, we often focus on Best Practices to help guide students. Some courses now also focus on the flip-side: why leaders commit key errors. For instance, Confronting Reality: Doing What Matters to Get Things Right, includes a chapter on “The Six Habits of Highly Unrealistic Leaders”. I thought I’d share it with you.
According to Larry Bossidy and Ram Charan there are six common causes of failure to confront changing realities. I add a seventh:
- Filtered information. Given the increasing complexity of life and the overwhelming amount of information available, filters help us avoid overload. But in doing so, key information challenging basic assumptions may not get through.
- Selective hearing. As humans, we do the same thing: we filter the information to which we attend and often seek information to corroborate our initial decisions
- Wishful thinking. In a world of complexity, doubt and uncertainty, people sometimes resort to wishful thinking. The Bay of Pigs fiasco of 1962 is an example.
- Fear. Facing uncertainty and the unknown, Kahneman and his fellow Nobel prize economists proved that people prefer to avoid losses than seek out gains.
- Emotional overinvestment. Adopting new behaviors and attitudes means giving up older ones; when people are emotionally overinvested, they downgrade the logic of the argument in order to resist change.
- Unrealistic expectations of capital markets. Capital markets focus on quarterly changes, even though true changes, such as a product branding or business development effort can take much longer.
- Inertia. Human nature, like the real-world, resists change. Once we’re comfortable with what exists, it’s hard to recognize that change may be essential. Think of all the companies that were successfully making a nice profit on products (e.g., floppy disk, buggy-whips and netbooks) while other companies were building new products (flash-memory, cars and ipads).
One of the reasons I agreed to chair a CEO group for Vistage, is that the 12+ members of a typical group know that their job is to provide each other with:
- Objective perceptions when a member is falling into one of these traps
- Creative new solutions to overcome business challenges
- Accountability for taking steps necessary to get quality information, avoiding these psychological traps.
My CEO group, which calls itself the Game Changers, is especially focused on avoiding these causes of failure and facilitating adoption of best practices. If you’re in NYC and want to join, feel free to contact me.
How the internet changes relationships?
Published January 2, 2011 | First, welcome to the new year!. May it be filled with good health, happiness, and the realization of your dreams.
Second, I’ve been planning on starting a blog for quite some time, to share with you the many things I discuss with colleagues, clients, writers/editors, students, association and corporate audiences, interns, etc., and there’s no better time than the start of a new year. So, here goes. I look forward to many insightful conversations!
Someone recently asked me, “How has the Internet changed relationships?” We brainstormed on the many ways the Internet is changing our lives and how we communicate with one another, and considered what future implications and directions might be. As with all technologies, it’s not all good or bad; the issue is how do we harness the trends to improve our lives.
Thus, the issue is; What’s changing from a psychological, social and business perspective?
Here are a few trends I’ve noticed.
1. We’re always connected. On the positive side, it’s now possible to stay in touch with people with whom you want to be connected. You can monitor and communicate with aging parents and children. It’s easier now to reach out and converse with a friend who may live half-way around the world as well as your local group of friends. Portable devices allow is to access news, opinions, advertisements, music, op-eds etc., anywhere and anytime. On the negative side, we’re losing some of the quiet time or “slack” in our routine; our sphere of “personal privacy” is shrinking as our purchases, responses, comments reveal aspects of our lives.
2. Our access to information has skyrocketed. We can access facts, statistics, definitions, photos, movies, opinions (blogs),news, lesson-plans, company descriptions, resumes, medical information, etc., within seconds. Ignorance is no longer an excuse.
3. Quality of care, such as health care, is increasing exponentially with increased access of medical records, second opinions and long-distance medical advice, monitoring of vital signs, and new methods of cost-controls.
4. People are relating directly with institutions, cutting out the middle “middle-men”. For instance, organizational control of information is giving way to social media’s empowerment of individuals for civic journalism (blogs), people’s discontent and resistance to governments (Twitter and Facebook) and whistle-blowing. People are taking on greater responsibilities for their lives as they interact directly through on-line banking, investing and purchasing.
Which of these issues are most relevant to you? How the internet is changing your relationships and others? As the internet’s role in our lives continues to increase, what other transformations should we expect?
Someone once said that the best way to predict the future is to create it. So, let’s get busy!
Jerry
Posted in Internet, Leadership, Personal Improvement, Psychology | 
Business, commerce, communication, Internet, leadership, relationships | 
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