Having gained 20 pounds recently, mostly in the love-handles region, I have been shopping around for a health club.
Let me tell you right away that this in itself is no easy task, and it takes a lot of perseverance to drag my newly gained tonnage from club to club, day after day, looking for the perfect joining deal. And believe me, there are tons of health club salespeople flouting super deals, convenient locations, 24-hour operation, brand-new equipment, special diets and fun atmospheresówho would simply love to have my money. This is a multi-billion dollar a year industry, after all. But in the end, though the costs were similar, I opted for a membership at the slightly run-down YMCA that is four blocks off the beaten path, on the way home from work.
Why the Y? Sure, the other clubs had the Y beat "hands down" as far as the variety of things they were offering. The equipment at the Y is ten years old, they are only open till 9:00 PM and there are a thousand "energetic" children running around the place, most of the time. But after meeting with several health club membership salespeople, there was no way I was not going to join the Y. What the big gyms had that was their downfall were sales amateurs attempting to sell their memberships. They made what should have been an easy close into a sales science project.
The lessons learned can easily be translated for sales professionals in the Financial Service Industry.
First of all, none of these "sales pro's" seemed to be listening. My basic requirements, which I had stated upon entering the clubs, was that I was looking for something similar to an alternate day membership, with a low sign-up fee, and costing no more than $50 per month. This did not seem unreasonable. But even though they offered and even advertised something resembling my desires, none of the salespeople wanted to sell it. Instead, I was pitched their special diet ($), individual coaching sessions ($$), and the fact that for the extra expense, I could come and work out when ever I wantedóeven during work hours, who cares what my boss might think! ($$$).
There is a time and a place for utilizing the "write-down" technique as a sales tool, but it is not when you've got a live one in front of you waiting to write a check. All three of the clubs I went to insisted on beleaguering their points by writing down the numerous savings and benefits I would be getting if I would only sign up for their diet/coaching, etc. On top of this, none of them could execute the write-down technique properly, instead ending up stammering their way through to their close while they became more confused in their own facts.
Finally, it is extremely transparent even as a last-ditch closing technique to have the manager come in and assure me that the salesperson had mistakenly quoted rates he was not allowed to give-but because he had done so, the club would still honor the "unauthorized" rates. This health club felt more like a car dealership.
Some pointers I learned from watching these sales unprofessionals:
1. L-I-S-T-E-N to your prospect. Ask questions, and then listen to what it is your client is saying. Ask about what your client's experience has been with whatever it is you are selling. Have they been pleased? What is it they would like to see again. What would they like to not have? Are there any budgetary considerations in making their decision? Listen to all of their answersótaking notes to make sure you are getting everything (also makes them feel important and shows you are listening). Then, create a value for the prospect by showing them all of the services you have available that meet the criteria of what they are looking for.
2. Don't be afraid to overcome objections. An objection most of the time is just a request for more information. There are lots of proven methods of overcoming objections, but the best are the ones that appear effortless and natural to the prospect (perspiration and the veins in your head bulging is a dead giveaway). One easy method is to acknowledge the objection, and ask the customer what it is they don't like about what ever it is they are resisting buying. You might be surprised at their answer, and how easy it is to turn them around. Much of the time it is something simple keeping them from completing the deal. And once addressed, becomes a quick and easy sale.
3. Recognize your customer's good decision. Let your clients know what a great thing it is that they have decided to do whatever it is you are trying to get them to do. Build them up, and let them know how effectively your program is going to work for them, the kind of service they can expect from you, and how much you appreciate their business. Thank them for the opportunity to help them with their business goals. And let them know you would be pleased to assist others in their industry they may be acquainted with who may also need your services.
4. AFTSóAsk For the Sale! When was the last time you heard any of the following sentences coming out of your mouth? "Would you like me to write that up for you?" "If you would just sign right here..." "When would you like to start?" "How would you like to be billed?" "Would you like to buy it?" - or any number of other closes. Listen for them. If you don't hear yourself asking for the sale, it means you are probably not doing it. And, you are missing out on the opportunity for a customer to say the magic word...Y-E-S!
