Are You A Knower Or A Learner When Selling?

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Are You A Knower Or A Learner When Selling?

Written by Tessa Stowe

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Asking The Budget Question

Asking the budget question is one of the most common mistakes in lead generation. Asking this question the wrong way is just like sticking your hand in the prospect's wallet. Although we would all like to do that…there are smarter ways to get to the same place. (And you can do it without getting thrown out of the decision makers office.)

There is going to come a time when budget will come into play during the sales process. But the way you approach this question can mean the difference between a successful sale and a bad reputation. Play your cards right, you could turn this one sale into repeat business. Mess it up, and a scared or put-out prospect can spread the word around faster than you can dial the phone.

Although you are going to eventually ask some sort of budget question, it is important to understand the dangers in pursuing this information. If you don’t ask the question in just the right way and at just the right time you will moist likely create negative energy between you and the decision maker. When this happens you risk getting bad (or no information at all) thus your sale is about to veer off the road. My advice? Never ask "Do you have budget for this purchase?"

Sure, that's the question you want answered. But this is not the way to find that information. It is the way to shut down the process quickly. The prospect may say no when in fact he does have a budget because he thinks you are prying in to his personal information. Then again, he may say yes and tell you a low ball figure because he doesn’t like the way you do business. Some people are going to take this question to mean "how much can I possibly charge you for this before you'll run?"

Asking the question at the wrong stage of your sales cycle can be the kiss of death. Believe or not many sales people ask this question during lead generation (see the previous article about qualification questions). The earlier you ask this question the more dangerous your path becomes. You don't meet someone at a party and say "Hi, Jeff, nice to meet you. I'm Bob. So, what's your net worth?" It's not acceptable in a business environment, either.

Asking this question the wrong way is just like sticking your hand in the prospect's wallet. Although we would all like to do that…there are smarter ways to get to the same place. (And you can do it without getting thrown out of the decision makers office.)

{sidebar id=7} Getting at the budget in a sale is an art form…it requires a lot of finesse. The real trick is getting the prospect to GIVE you the information you're looking for without having to ask for it. First, by leading off with questions that show you're concerned with their best interests. Then show them how you can help solve their problems. Finally, provide a basic cost-benefit scenario and leave it to them to tell you if the can afford it. You don't even have to ask if the "have enough money."

The concept of budget is usually best introduced in the context of ROI. Don't ask if they can afford it. Show them how they CAN afford it. For example: "Our solution can save help you reduce your payroll by x and also give you more capacity and faster processing. This means that you can save X during the next 12 months…the cost of our solution is Y…would a return on your investment of Z be a good fit for you? If so, then we might have just the solution you're looking for.

Again, you aren't ASKING them for money, you're SHOWING them how much money they can save/make with your product or service, as well as how you are going to solve their problem(s) at the same time.

When you become a learner when selling you'll find the level of trust you have with your prospect will be increased, the time and effort it takes to make a sale will be decreased and you'll be making a lot more sales.

Are you a knower when selling?

When selling to a prospect do you assume that your products and services will solve their problem? Then, as soon as you can, you jump in and tell your prospect all about your products and services and what they will do for them. You feel that if you tell them enough, they will see how great your products and services are and that they will solve their problem.

Also when your prospect asks you any question, do you always give some sort of answer, even if you have to guess? You don't want them to think you don't know everything about your products and services because you feel you should know everything. You are afraid your image, in the eyes of your prospect, will be negatively impacted if you don't know the answers to their questions.

If you answered yes to either or both of these questions then you are a 'knower' when selling. Unfortunately being a knower when selling has several significant disadvantages as:

* a prospect automatically distrusts a knower. A prospect distrusts someone who tells them how they can solve their problem when they don't even know what their problem is. It's the same as you walking into a doctor's office and before you have even sat down in his chair or uttered a word, he hands you a prescription and says "Take this and you'll feel better." Would you trust the doctor or the prescription?

* when a prospect senses you are guessing when answering their questions they will distrust the answers you give. Plus they start to distrust everything you have said previously.

If you are a knower when selling, then trust will be low in your sales conversations. When trust is absent, the time and effort it takes to make a sale increases and the likelihood of actually making the sale decreases.

Are you a learner when selling?

When selling do you make no assumptions about whether you can help your prospect solve their problem? You ask lots of questions so you can understand what their problem is and whether you can help them. Only once you know they have a problem you can solve do you then tell them about your products and services.

Also, if your prospect asks you a question for which you don't know, or aren't sure of, the answer do you simply tell them that you don't know? You promise to find out and get back to them (which you of course do). You know that giving your prospect the correct answer is far more important than your knowing everything about your products and services and looking good.

If you answered yes to either or both of these questions then you are a 'learner' when selling. Being a learner when selling has several advantages as:

* people automatically tend to trust people who want to understand them and help them solve their problems.

* people have more trust in someone who will admit when they don't know something. Also when someone admits they don't know something, it adds credence to everything that they've said previously.

If you are a learner, then trust will be high in your sales conversations. When trust is high, the time and effort it takes to make a sale decreases and the likelihood of making the sale increases.

If you are not already a learner when selling then here are five simple tips you can apply so you become a learner in a sales conversation.

Tip #1: Bring no assumptions to the sales conversation about whether you can or cannot solve your prospects' problem with your products and services.

Tip #2: Bring wonder to the sales conversation. Just before you have a sales conversation, say to yourself, "I wonder what I am going to learn in this conversation" or "I wonder if I can help this person."

Tip #3: Be curious. Ask lots of questions from a place of genuine and sincere curiosity.

Tip #4: Listen actively so you can learn as much as you can about your prospect.

Tip #5: Learn and implement a sales process which leads with an understanding phase versus a telling phase.

Implement these five simple tips and you'll effortlessly become a learner versus a knower when selling. When you become a learner when selling you'll find the level of trust you have with your prospect will be increased, the time and effort it takes to make a sale will be decreased and you'll be making a lot more sales.

Try it and see.

Tessa Stowe
		About the author:
		Tessa Stowe teaches small business owners and recovering salespeople how to turn conversations into clients without being sales-y or pushy. For her free list of the 'Top 10 Sales Mistakes - and How to Avoid Them' .