Editor's note: This article is the fifth in a series on how to "Bake the cake: The 6 P's to insurance sales excellence."
In the recipe of sales, a crucial ingredient is customer pain.
In fact, most sales training includes a section on "finding the customer's pain." These programs say that finding the pain is the key to winning the sale.
There is one small problem with this. It's just not true. Don't get me wrong, finding the pain is an important step, but it is only a step.
Together, let's take that next step. What if salespeople found out the 'why' behind a customer's pain?
The real problem here is the sale rep stopped listening. They heard a "buying sign" and immediately began forming a response.
Stephen R. Covey, in his groundbreaking book, "The Seven Habits of Highly Effective People," tells us we must stop listening to respond, and begin listening to understand. When a customer gives you a buying sign there is a simple process to verify you have the right information.
Because a salesperson stopped listening, they did not give themselves the opportunity to learn more. The more the customer speaks, the better prepared you are to serve their needs.
Step 1: Don't interrupt the customer, let them finish speaking.
Leave a second or two of uncomfortable silence. You may even hear the customer say to you "are you listening to me?" to which you can respond "Yes, I wanted to make sure you had completed telling me what is important to you."
You can even ask them, to clarify certain parts of what they said. "Ms. Customer, when you tell me this is "important," how so? Is it important to you? To others?
Give the customer the opportunity to give depth to the conversation. Encourage them to add small details that their brain originally omitted. As they think and speak, they are adding value to your solution.
Step 2: Confirm understanding.
Ask the customer, "Let me make sure I understood what you said."
Then, repeat to the customer as closely as possible what they said. End with "did I get that right?" When the customers say yes, you move on.
Step 3: Ask them why?
What motivated this interest? Who else was involved in deciding this was important to the company? How open are they to alternative solutions. What consideration have they given to budget? What return will the customer get on this investment? (if they spend x will they see 2 times a return? 5 times? 10?)
Perhaps the most important why is, what happens if they do nothing? How much money will it cost them today? Next week? Next month?
Many salespeople lose sales to indecision, not the competition.
Next time a customer tells you they want/need something, find out why. You will sign more business and you will sign it faster.
In our next segment, we'll wrap up "bake the cake" talk by addressing "time & temperature" to align the three sales processes.
Mike Shelah is the founder of Mike Shelah Consulting. An admitted "LinkedIn geek" Mike loves talking: LinkedIn, sales & emotional intelligence to anyone who will listen. Mike is a frequent podcast guest, speaker and occasional guest on Fox 45 in Baltimore. You can contact Mike at 443-808-1670 or mike@mikeshelah.com.
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