Quiz time: What are the five biggest challenges your prospects and clients are dealing with and how does your solution address them?
If you can’t answer that question, you need to hit the books. How can you possibly position your solution as a way to relieve your prospect’s pain if you don’t understand the source of their discomfort?
A solid working knowledge of industry issues lets you anticipate the most common objections and develop standard responses that overcome them. It lets you develop a standard list of leading questions that shift the focus from the prospect’s concern about spending money to the return they will realize from their investment into your solution.
It keeps you in control of the sales process and helps you establish a rapport and build a foundation of trust.
Is your client’s industry faced with a talent shortage? If so, how does your solution help the prospect function effectively with fewer people, or raise their profile so they can better-compete for top professionals?
Is the economic downturn causing belt-tightening? If so, how does your solution help lower production costs, reduce overhead or improve productivity?
Top sales professionals make time to keep up on the industries they serve. They read the top trade journals, find the blogs and online sites that cover their business and industry. They listen to what their clients are saying.
Follow their lead. Use the information you glean from these sources to develop a library of standard responses and questions. Practice them until you know them cold.
Now you’re ready to respond to whatever objection your prospects throw at you so you can lead them down the path to a value-based sale.