Saturday, May 9, 2015

How To CLOSE THE DEAL After They Tell You They Need To Stay LOYAL To Your Competition

I get hundreds of emails a month from people asking questions on closing, objections, you name it, and one that I consistently get time and again is the frustration on trying to close deals with people who utilize the “old boy network” or cannot seem to get away from their current vendor.  A lot of salespeople just give in and come to the conclusion that you “can’t win them all.”  No, but you can win some of the bigger deals you think are lost to this dilemma if you just appeal to the buyer’s common sense, which I did one day by accident out of anger and frustration.

True Story:  After numerous presentations to this company’s committees, board, VPs, you name it, it all came down to the owner (which would have been nice to know ahead of time, but I was na├»ve at this point, and willing to present to anyone who would listen) and what he thought. The committee said they would present it and “get back to me.” Well, rest assured I had created value, created excitement, developed rapport with everyone in the process, everyone but the decision maker and now I was going to have these people make the presentation to the man who signed their check? Do you think they would be able to convey the type of excitement I would? Answer the objections in the detail required? Of course not.  So, not leaving it up to chance, I asked to make the presentation myself and fortunately was allowed to do so.

Well, after spending an hour or so displaying the many benefits and features of my sales training program, developing rapport with the decision maker, getting agreement from all involved, we turned to the owner for his answer or his thoughts. He paused for a second, then gave me his answer, an answer which he felt would end the presentation, placate me and send me on my way.

“Mark, everything you said makes perfect sense and would be a great addition to the training we receive currently, but I have been with Rick (current trainer) for almost five years and we have been happy thus far, and I am unsure if we can fit BOTH programs into the budget.”

Doing my homework prior, I knew that the sales team was unhappy with the results from Rick’s company, but he was a good friend of the owner and the results he was getting were satisfactory enough for him to keep his job. The sales managers had voiced their opinion as far as they could without jeopardizing THEIR careers and it was up to me to seal the deal. I knew that the budget was NOT the concern, it was his friendship and loyalty, and he needed a shove in the direction of common sense and responsibility, regardless of loyalty. So here is how I moved the deal to the closing table and combated the “friendship/loyalty” dilemma:

ME:  “Mr. Smith, let me ask you a question if I may?”

OWNER:  Sure go ahead,” as he leaned back in his seat.

ME: “I respect the loyalty to your friend and his training company and what they have done up to this point. But we agreed that what I can offer in the form of training can help take your sales team to another level in performance, and we all know that means increased profits, and you agreed that our program makes sense to what you want to accomplish, is that also correct?”

I essentially recapped all the benefits he would receive by going with our company, and began building my case appealing to basic common sense, especially with an audience present. I wanted to make the case so compelling that the decision on HIS end was a low risk, "no brainer” decision. It had to be an OBVIOUS choice, not an ambiguous one.

OWNER:  “Certainly, I think we are in agreement on those issues.”

THE CLOSE

ME:  “Well, that being the case Mr. Smith, shouldn’t your first loyalty be to your company and its financial well being?”

BANG!!!! That’s it. That’s all you need to say regarding their loyalty to their current vendor. It is very powerful, VERY thought provoking and common sense always comes into play.

Needless to say after making that statement and looking at him with a sense of concern and genuine interest in his company, we signed the deal that night to SHARE the training with Rick.  Within 45 days it became obvious my competitor’s techniques and strategies were antiquated and subsequently they were let go and we received the contract for the full training. The results were astounding and we got a great reference and MORE business.


Remember, ask the prospect what is more important, loyalty to the vendor or to his own company. I think we all know the answer.

21 comments:

  1. Looks legit to me. I have heard a lot about you from one of my friends who in turn was your friend in school. Ronnie was quiet appreciable of what you achieved in such a short period of time with such dedication. It was he who suggested me to try your Insane Marketing Strategies book. Since, I believe him the most in my life, I will definitely try this book soon. Cheers!

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    1. That's a great story Shawn. It is nice to see that we both have come to this place via word of mouth. It shows what effect the insane marketing strategies book has on people!

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  2. Terrific. Been there done what a normal person will do and failed time and again. Wish I came to know about this experience of yours with this company with whom you sealed the deal before. I always become blank at the same point where you could pull off a magic trick and asked that question about loyalty of company over the vendor's. I usually stand up and leave once a company tells me they are satisfied with their current vendor. It never struck to me that they can be coaxed to kick out the present guy and hire you. Thanks a lot.

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    1. Thanks for the compliment! Check out Mark McClure's Insane Marketing Strategies at www.InsaneMarketing.net

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  3. It works. Tried this with one of my clients whom I was trying to get an order from since the last many months. I said the same thing to him, i.e., to not to keep your personal and friendly relationships with your current service provider over your ultimate business interests. In the end, it's your company who'll be the loser, not your so-called friend. There's nothing like true and permanent friendship when it comes to business. The management of the company was convinced and I was able to finally seal the deal with them.

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  4. Thanks for sharing this real life experience with us. I was one of those who mailed you several times about how I'm unable to close the deals at the very last moment. This shall I think help me a lot in my future dealings with my clients. I'm sure it will. Just what I was looking for. Thanks a lot!

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  5. Awesome!!! Just came here to tell you that how this book "Ruthless Entrepreneur" was the best book on marketing I ever bought in my life. It put the much needed new lease of life in my dying online marketing business which literally forced me to quit it and again do a 9-5 job. But thanks to Mark, I was saved from going back again to that boring, monotonous life. Mark's book is to marketing and sales world what Arnold Schwarzenegger is to bodybuilding. I have become a seller on steroids now and close the number of deals which I never thought in my wildest of dreams that I will ever be able to pull off. Thanks so much for all the hard work you put in this book Mark McClure. Much appreciated!

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    1. Thanks for the compliment! Check out Mark McClure's Insane Marketing Strategies at www.InsaneMarketing.net

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  6. Wow, you turned that around quickly. Perfectly done!

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  7. I am thinking it might not have taken as long if the owner was really serious about the bottom line. Most companies are, but I understand some privately owned ones are looking to keep loyalty as the first priority.

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    1. Exactly Jack. Thats why this technique is so effective www.RuthlessSales.com

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    2. Exactly Jack. Thats why this technique is so effective www.RuthlessSales.com

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  8. I have a lot to learn. Just reading through your story, there is no way I can close a deal like that. It seemed the owner was set and when that happens I think I lack the confidence to make the deal switch.

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    1. Hey Bily, its all here, how to close the sale www.RuthlessSales.com

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    2. Hey Bily, its all here, how to close the sale www.RuthlessSales.com

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  9. Well, even if you did not close the deal, you did present the company with enough value that the odds are good that once the sales people complained about the training, your phone would be the next one ringing.

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    1. EXACTLY. For more great stuff check out www.RuthlessSales.com

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  10. That was nice how you switched that around on him. Of course most owners THINK they want to be loyal to customers, vendors and the like, but it really comes down to the company they own being number one.

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    1. GREAT POINT! Thats why this technique works

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