Sales are one of the noblest of professions out there. It’s a job which is mainly about people helping people, contrary to the popular opinion of people conning people of money. Yes, many have become great in this profession using the methods of latter but in today’s age, it’s almost impossible for a salesperson to lie. Primarily because the internet has tipped the playing field in favor of the consumer & punishment for salespeople who lie is too high today.
So, where does managing prospect expectations come into all this? What salespeople have to understand is that sales itself are a game which is nothing more than setting expectations in the mind of the prospects. Every salesperson should begin his or her sales meeting with the end in mind. The inability in doing so is what hurt the sales from the start itself. Setting expectations in the minds of your prospects & making sure that it’s fulfilled is the key to success in business.
Majority salespeople make the mistake of telling every prospect the same story, mostly because they are lazy or crazy. As a result, they fail to deliver their messages that resonate with their prospects which leads to low closing ratio. To avoid this mistake from ever happening read on to know the 5 tactics that you can use to manage prospect expectations to speed up sales.
1. Establishing objectives
Clear set objectives are the start of any sale. This ensures what the prospect wants & what the sales rep can deliver. If what you can accomplish can be discussed, the mismatch in expectations can be eliminated at the beginning itself.
But many salespeople go wrong over here. They promise on the goals in the beginning but fails to deliver them throughout the sales process. Even if you can’t give an answer to a prospect’s question, give them date & time certain to provide the answer. Try to form a structure from the initial meetings. How long should the process take place, what steps should be taken etc. should be thoroughly discussed. Then only you should move on to bigger goals, like what the prospect hopes to accomplish & what the ideal price point is.
2. Being clear about the outcomes
One of the major reasons that major of the sales doesn’t happen is because the prospects aren’t confident about the outcome being positive. This can be avoided if the salesperson draws an honest picture in the mind of the prospect. Customer testimonials & case studies can be used to give specific examples of how your product has been for past buyers. But at certain times these materials can showcase the best possible outcome to the prospects & can lead to unrealistic expectations during the sales qualification process. This can leave your prospect confused or worse – disappointed.
It’s critical that both you & your prospect wants the same outcome. Make sure that when you walk the prospect through the process, make sure to be realistic. Educate your prospect on the order process. Using the best case scenario can be used to sign off the deal but failure in delivering what you promise will lead to lose of any future business with the prospect.
3. Understand their sense of emergency
The sense of emergency regarding important financial goals varies from organization to organization. While the certain firms look to improve their financial position others will be interested in serving more constituents. The salesperson should always keep this in the forefront to keep the attention focused.
So, know exactly what they want, otherwise, it will turn out to be quite difficult to act according to their expectations. Make sure your goal align with theirs on your joint ventures.
4. Do not hide anything
It’s important to be upfront about important issues instead of not being on the fear of losing deals. In order to build trust in sales, it’s necessary to address potential roadblocks or issues as you recognize them.
Delivering bad news at times will also help in effectively dealing with them throughout the sales process. When they are addressed later in the process, both your time & the prospect’s time will be wasted.
5. Extract specific answers
Many find it difficult to give bad news. So instead of telling the truth, they use words like “maybe”, “will get back to you” instead of a straight NO. And as many salespeople have “happy ears” they assume it as yes & set expectations.
But, what happens is that these non-committal responses can later result in deal-breaking problems. So, it’s important to push for specific answers from prospects even though it might seem uncomfortable.
These are the ground rules that every salesperson should follow for a smooth closing. Managing the expectations of prospects is critical in the whole sales process. Also, remember that not every prospect will be a good fit for your products or services.
Blogger, Content Developer & Editor. Amberlynn is a Content Marketing Professional and is an integral part of DataCaptive since its inception. She holds a passion of tracking new changes in the ever-evolving business world and putting them down in the form of blogs to encourage intelligent discussions & thought exchange. Apart from writing, reading fiction and thriller novels are her major interests.