This question came from a sales person in an organization that offered a terrific product that solved a real need and was priced appropriately. They had a steady stream of leads, but just couldn’t seem to convert their prospects into paying clients. So I sat down with the sales team to diagnose the problem and asked one of my favorite questions, “Why would a prospect reach out to you, but end up buying from a competitor?”
Now, here’s the interesting thing about that question. Sales representatives with high conversion rates struggle to give me an answer. They simply cannot believe that their prospects would choose any company other than their own. They believe in their product with a passion. They know that their mission is to take their product to the world and that not doing so is a disservice to all of their future clients who will see real benefits from their offering.
Sales representatives with marginal conversion rates often give me a laundry list of reasons that prospects choose competitors, ranging from a lower price point to a difficult economy. These folks will hit the mark when times are easy but struggle in tougher markets. They know they have a good product, but struggle to create value or overcome objections. They may be new to sales or simply need some structured coaching. These folks are receptive to learning new techniques and often show immediate improvement, once they receive solid coaching and training.
But when sales people have serious concerns about the quality of their product or the value of their offering, no amount of training or coaching will help. Put simply, they lack that critical component of successful sales professionals: belief. They don’t believe in their product, their company and often in themselves.
When people on your sales team lack these fundamental beliefs, they will never be truly successful. Just think about it. How can they walk a prospect through an objection, if they share the same objection themselves? They simply cannot. Not without sounding defensive, apologetic or insincere.
Can This Situation Be Saved?
How do you know what your sales team believes? Ask them. And then hope for that baffled look when you ask, “Why would a prospect reach out to you and then buy from our competitors?” But be prepared for one or more of these answers:
- Our competitors offer better value.
- Their price is better.
- Our support team is not as good.
- They do a better job.
- Our system is flawed.
- Our stuff doesn’t work.
If you hear these warning signs from someone on your team, it is time to have a candid conversation. Does this individual understand how you solve problems and provide value? Can you overcome their objections? Ascertain if this sales person simply needs some coaching or if it is time for him or her to move on. In the end, it all comes down to one thing. Your sales team must be as passionate about your product or service as you are. If they are not, you may have the wrong team.
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This post originally appeared on the Fairfield Business Solutions Blog. 2015
About the Author
Fiona F. Middleton, MSM is a results-focused strategic learning and development executive with the ability to conceptualize, design and deliver targeted, sustainable and engaging enterprise training programs that positively impact the bottom line.
With more than 20 years’ experience working with business owners and senior management teams, Fiona is an expert in adult learning and an authority on delivering customized coaching and training programs that help organizations obtain results.
For more information: FionaMiddleton@comcast.net.
Fiona F. Middleton, MSM 