All posts by NTI

Top 7 Tips to Overcome Cold Calling Anxiety

For many people, dialing a cold call can make their palms sweaty and their heart race.  They know the chances are high that they might get yelled at or hung up on within the first few seconds.  Without the right strategies, it is understandable that one might feel this way.  But don’t fret!  Below are 7 cold calling tips that will reduce your stress and help you land more meetings.

Tip #1: Acknowledge Your Anxiety

There’s nothing wrong with feeling nervous and uncomfortable about making a cold call.  However, ignoring that feeling will only make things worse.  Instead, acknowledge your fear and ask yourself, “What’s the worst that can happen?”  The worst thing is that you might get rejected.  While this is not your preferred outcome, the fact is that you will live through it.  Facing your fears head on will give the ability to conquer your anxiety and start feeling more relaxed.

Tip #2: Do Your Research

Just because you are a making a cold call doesn’t mean it has to be a blind call.  Do your research before picking up the phone and know your target audience.  Look at what they have purchased in the past and find out what is important to them.  Having more knowledge and insight about a company will help you to be more convincing.  It will also increase the likelihood that you might make a sale.

Tip #3: Come up with a Script

No, this doesn’t mean that you are going to read directly from a script, but it is nice to have one as a guide.  You don’t want to sound robotic, but it is a helpful tool if you start to get nervous or stuck.  Don’t write it out word for word or you might be tempted to use it as a crutch.  Instead, keep it short and just jot down some main points or questions.  Come up with an attention grabber and try to personalize it as much as possible.

Tip #4: Practice

This one sounds obvious but it’s true.  The more you practice the more comfortable you will be when it’s time to pick up the phone.  Stand in front of a mirror or practice with a friend or colleague.  Role-playing is a great way to practice handling different scenarios and build confidence.

Tip #5: Change the Meaning of Rejection

The sign of a great salesperson is the ability to handle rejection.  Instead of hearing the word “No” and feeling like a failure, you need to channel that rejection into motivation.  When you reframe the way you view rejection, you won’t feel so slighted after an unsuccessful call.

Tip #6 Avoid Distractions

When it comes to cold calling, even the slightest distraction can get in the way and break your concentration.  It is important to schedule an uninterrupted block of time to make prospective calls.  When you are able to make several calls in a row, you gain a sense of rhythm and momentum that can make you more relaxed.  Try to stay focused without checking emails or texting.

Tip #7: Believe in Yourself

Many people sabotage themselves by believing that they are going to fail.  They automatically assume that the prospect is going to hang up on them and that they will never make a sale.  Believe in yourself! You might not get a sale every time but you are getting better with each call and each new prospect is a new opportunity.

3 Key Criteria for Qualifying Leads

The goal of any sales position is to demonstrate how your product or service will make someone else’s life easier.  When this is done successfully, it is likely that you will land the sale.  However, it is important for a salesperson to accept the reality that just because you want as many people to use your product as possible doesn’t mean that it will benefit them all the same.  The good news is that the world is filled with customers and businesses that are looking for your product.  That means it is up to the sales team to differentiate between those who will and will not benefit from it.  Being able to quickly qualify a prospect will allow you to spend more time with the customers who will get the greatest benefit and less time on those that won’t.  When deciding which prospects to go after, it is helpful to utilize these 3 key lead qualification criteria.

  1. They Have a Need

This is the first sign that the prospect is qualified.  In general, if the prospect is looking for a solution, they have a need.  Oftentimes this need comes from a pain.  The customer has a problem and they are looking for a solution.  In some cases, the customer knows exactly what they want.  In other cases, their need might be a bit vague.  In some instances, the customer might not know they have a need at all and it is up to the salesperson to make that clear.  Regardless of their level of awareness, anytime a prospect has a need that you can address, it is worth your time investing in their need in order to make a sale.

  1. They Have the Money

This is clearly an important component in making a sale and will be the focal point of any negotiation, and thus is one of the key criteria in qualifying a lead.  If the prospect doesn’t have the capital to make the purchase, there is no point in wasting your time or theirs.  You can find out if a prospect has the money by asking some important questions up front such as:

  • Are you familiar with the investment involved in making this purchase?
  • Other than price, what other criteria will you base your decision on?
  • Have you set aside a budget for this?

If a prospect is basing their decision solely on price, they probably don’t have the capital to invest properly in your product.  Don’t waste time on someone who isn’t prepared to make the investment.

  1. They Have the Time

These criteria vary depending on product and industry, but time resources are important to consider when qualifying a lead.  Are they ok with your delivery time or do they need the product in 2 days?  Do they understand that it could take weeks to implement your new system or are they expecting immediate results?  If the customer is not flexible with their time frame, this factor could eliminate them right away.  Keep in mind, however, that just because they had previous expectations, you might be able to sell them on a little more flexibility if you develop trust and credibility with the client and they understand what proper delivery time entails.

How to Get Out of a Sales Slump

Sales is a roller coaster with plenty of ups and downs but the sign of a great salesperson is the ability to maintain control and manage their mood through the highs and lows.  All salespeople have experienced those days when they seem to be on fire and other days when it seems like they have tried everything but can’t seem to get business to close.  In this instance, the greatest danger for a salesperson is the loss of confidence. There is no doubt that circumstances might cause our confidence to be shaken, but anyone who has spent time in sales will attest that this happens to everyone from time to time.  If you notice things slowing down and find yourself at a loss, here are some things to try to pull yourself out of a sales slump.

  1. Review Your Account List

Go back and take a look at your account list to remind yourself of the clients you haven’t talked to in a while.  It can help you reconnect with someone who might have been interested but slipped off the radar while you were working a big account.

  1. Block Some Time for Calls

Set aside a 30 minutes time slot to make several calls.  While no salespeople enjoy the idea of cold calling, it can sometimes get a conversation in motion with a potential client.  You can even go through your existing account list and call people you already know to ask for referrals.

  1. Analyze Your Behavior

It seems simple enough, but if what you are doing isn’t working try a different approach.  Analyze one or two of your most recent customer encounters.  Start at the beginning and review each stage of the sales process.  Look for things that went well and find things you could have done better.  Come up with a new plan for future sales meetings.

  1. Find a Mentor

Never be too proud to ask for help.  During a sales slump, it can always be beneficial to seek the advice of someone a little more experienced.  Ask for their opinion and advice and take notes so you can review them later on.

  1. Take a Break

It might sound counterintuitive but sometimes what people need to get them going again is a nice break.  Take some time off to clear your head and get rejuvenated before hitting the calls again.  It’s hard to make a sale when you’ve exhausted all your energy and you are feeling overwhelmed.

  1. Try Networking

Spend some time joining networking groups or philanthropic events that are related to your industry.  Attending a cocktail hour or social gathering can be a great way to mingle and meet people.  Interacting with people in a positive setting can foster future relationships.

  1. Educate Yourself

There are a number of great sales books, presentations, or sales podcasts that can motivate you and offer some fresh ideas.  Take the time to delve into one or more of these activities and have fun trying some of the new techniques.

How Your Body Language Plays a Key Role in Your Negotiations

People communicate through a variety of channels, not just through language.  We express our ideas and feelings through our facial expressions, voice tones, and body gestures.  These non-verbal cues, or “body language”, play a significant role in our ability to negotiate with others.  More than 80% of our communication is nonverbal and in fact body language has a greater impact in a discussion than the actual words you speak; therefore, it is important to pay close attention to our body language during a negotiation.  Though you might say one thing, your body language may indicate something entirely different.  Gain the edge and give yourself the advantage with these body language tips that can increase your rate of success in negotiations.

Arrive on Time

Nothing is more important than a first impression and that begins before you ever say a word.  Showing up on time is the first step in making the sale.  Tardiness is viewed as discourteous and makes you appear lazy and incompetent.  Furthermore, you will likely feel rushed and nervous if you are running late.  Give yourself the best chance by arriving on time, or a little early for that matter!

Don’t Forget the Handshake

While there has been so much written about the art of the perfect handshake, the truth is the only important thing about your handshake is to have one at all.  A handshake is necessary for beginning a conversation because it makes people feel comfortable right from the start.  It also promotes honesty and increases cooperative behaviors that can lead to better negotiations.

Maintain Eye Contact

Eye contact is one of the single most powerful communication tools between two people.  It conveys openness and helps to build trust and a positive rapport.  Avoiding eye contact in a negotiation can act as a barrier and can give the other person the feeling that you are being dishonest or that you lack knowledge.  Do be cautious, however, about making your eye contact seem threatening or intimidating.  Keep it natural and friendly.

Be Aware of Your Facial Expressions

We have all experienced a moment when we were in the middle of a conversation and we stopped to ask the person, “What does that look mean?”  Whether you intend to or not, your facial expressions are going to impact your conversation.  They can either leave your counterpart feeling confused or frustrated, or they can leave them feeling valued and appreciated.  Try not to frown or wrinkle your forehead during a negotiation and focus on smiling and nodding in agreement when possible.  Keep your chin up and your eyes level.  You want your facial expressions to mimic the positivity that you are speaking.

Keep Your Body Calm

Just as you want the words you speak to exude truth, confidence, and calm during a negotiation, so should your body.  If you are tapping your feet, shaking your leg, crossing and uncrossing your legs and arms, and moving your fingers, it will signal that you are nervous and stressed.  Keep your arms and legs still and avoid fidgeting with your hands and fingers in order to present yourself and calm and collected.  Limit your body movements to expression rather than fidgeting.

When it comes to negotiating, body language is just as important as the spoken word.  People remember nearly 80% of information that is presented to them both orally and visually so it is imperative to be aware of your body language.  Never forget the power of non-verbal cues and strive to convey strength and confidence through your body language.

The Right Way to Start a Sales Meeting

It can certainly be a little nerve-wracking to walk into a sales meeting.  Making the sale is your top priority but how do you go about making that happen?  You might walk in and try to engage in some awkward conversation to break the ice, but clients are far too busy to waste time chit-chatting.  Furthermore, they can spot a cheesy salesman a mile away and will avoid you at all costs.  The most important thing to remember when beginning a sales meeting is that you want to maintain control.  You don’t want to let your client start calling the shots and telling you things like “let’s get this started.”  Rather, you want to appear calm, confident, and in control.

Step 1: Set the Tone

As soon as you walk into the sales meeting you want to set a positive tone.  You can do this by saying something positive such as “wow, what a great office!” or “I love this part of town.”  Say anything that feels comfortable, as long as it’s something positive.  At this point, it’s easy for the prospect to try and take over by saying something like, “Well let’s have a seat and talk about this product.”  You politely acknowledge them and remember that you are in control.  They are trying to commoditize you, but you have to make yourself human and continuing a little positive talk is the first step in humanizing yourself.  Continue by saying at least one sentence that is unrelated to business.  For example, you might casually make mention of your football team’s recent win or how wonderful the weather has been lately.  The idea is to make yourself appear human.  It’s easy to dismiss a sales rep but it’s not easy to dismiss a human.

Step 2: Ask the Right Questions

It can be so tempting to jump right in and start talking about how great your product or service is.  However, it only sounds great to someone who needs it?  Therefore, you have to find out what your client’s needs are before you can begin your pitch.  Ask open-ended questions such as:

  • “What kinds of problems are you experiencing?”
  • “What are you hoping to get out of this product?”
  • “Have you ever used this product (or service) before?”
  • “What was your experience with it, both good and bad?”

The more information you gather, the more insight you will have to what is motivating your client.  Once you can identify their specific needs, you can tailor your presentation to focus solely on those specific areas.

Step 3: Let Them Know They Have a Problem

Oftentimes a client is reaching out to you because they are experiencing a problem and they are hoping that your product or service can help them solve that problem.  Sometimes, however, you might encounter a client who thinks that everything is fine.  This is your biggest competitor.  How do you sell something to someone who doesn’t know they need it?  In this case, you need to focus the meeting on your client’s problem.  For example, if you were selling sales training courses you might begin by saying, “Did you know that nearly 95% of the people working for you got into sales accidentally and it was not their first choice? There are far more aspiring firefighters, police officers, or web designers.  It’s important to implement sales training that teaches the skills needed to seek wonderful opportunities, even if it wasn’t the first choice for a career.”  This will definitely capture the attention of your client and leave them pondering about this potential problem.

The first few minutes of a sales meeting are incredibly important.  You don’t have much time so you want to get in and set the tone right away.  A positive attitude and warm conversations give the client an opportunity to see you as a person and not just a sales rep.  Asking questions will also make the client feel like you are listening to their needs and actually care.  Finally, defining the problem will give you an opportunity to offer solutions.  Control the meeting by controlling its focus the entire time and you are more likely to land the sale.

Top 5 Reasons Why You Can’t Close the Deal

We have all been there.  You have tried everything you can think of including price adjustments and additional perks to entice the buyer.   However, no matter hard you try you just can’t get them to sign on the dotted line.  Regardless of your industry, the ability to successfully close deals is crucial to your success.  It is important to take a closer look at these failed attempts and develop strategies for improving your negotiation skills.  Here are the top 5 reasons why some deals just won’t close.

Reason #1: Lack of Trust

If the client doesn’t trust you they are unlikely to buy from you.  The fact is, over 90% of companies report that they will only buy from companies that they trust.  If you want to make the sale, you have to build a trusting relationship with your client. This means taking the time to get to know your client and their needs.  It also means standing by your word, never making a promise you can’t keep, and admitting if you make a mistake.  Once you have built trust, you must continue to work to keep it!

Reason #2: They Are Not in a Rush

Sometimes the reason a deal doesn’t go through is a simple lack of urgency.  The problem you are offering to solve might seem significant to you, but to the client it might just be another email taking up space in their inbox.  If your product or service is not high on your client’s priority list you are going to have a tough time making the sale.  Make them feel like your product is valuable and find a way to move it to the top of their list.

Reason #3: It’s More Hassle Than it’s Worth

Customers like consistency and efficiency.  If switching to your product or service seems more like a chore than a solution, chances are the customer is not going to sign the deal.  Evaluate your product and make sure you are as easy to deal with as possible.  The more customer- friendly you are the more likely you will be to land the sale.

Reason #4 Lack of Authority

Dealing with someone who doesn’t have the authority to make decisions is probably the most common reason a sale doesn’t close.  Simply put, many salespeople spend time pitching to the wrong person.  In many cases, the customer sitting in on the sales meeting can only make recommendations and does not have the power to make the final say.  Before investing too much time and energy, make sure you are speaking with someone who has the authority to make a decision.

Reason #5: There’s a Better Alternative

Sometimes the bottom line is this: there is a better solution than yours.  Maybe another company is less expensive?  Maybe their product or service is easier to use?  Maybe their product is available immediately while yours is currently out of stock.  The fact is, there are countless reasons why a customer might prefer one company over another but in these instances, it is important to note that not everyone is the right fit for your product or service.  You can ask for input and find out why they have chosen to go with the other company, as this might provide helpful insight as to why you lost the sale.

5 Sales Tactics That Will Never Go Out of Style

Sales positions are one of the most difficult to fill by young employees.  The concept of selling has certainly gotten a bad rap and is perceived by many as a pretty cutthroat industry.  However, many businesses fail because they don’t know how to sell.  You can have the greatest product or service out there, but without sales strategies it will never succeed.  The following sales tactics are tried and true and should be implemented by every salesperson.

  1. Active Listening

Think about a time when you had a conversation with a close friend.  Chances are they were actively listening to you and you walked away from the conversation feeling loved and refreshed.  Great salespeople try to recreate this same feeling by asking questions and allowing their prospect to explain their needs and express their concerns.  Active listening allows customers to see that you care and aren’t just there to make a hard sell.  When you use the ‘what can I do for you’ strategy you will likely have a client for years to come.

  1. Respecting Your Competitors

As much as you might be tempted to bash your competitor studies have proven that this is not a good idea.  There is nothing wrong with discussing the advantages and disadvantages of your product or service in comparison with theirs, but stay away from bad mouthing them.  This will only reflect poorly on your company.  It is always a better option to take the high road.

  1. Follow Through

Perhaps this is one of the first sales tactics you were taught and for good reason…it works!  If you promised your client that you would call, fax, send an email, or send a brochure, do it!  You are only as good as your word and if you want to build a trusting relationship with your client you need to be credible.

  1. Foster and Ongoing Relationship

Making a sale is exciting but you have to remember that it can’t stop there.  Repeat business is an important part of growing a company and it is only done by nurturing relationships with your clients. Call your customer to see how they are doing.  Send a handwritten thank you card.  Send holiday cards.  Check in and keep them updated about new happenings in your business.  Reaching out to your clients lets them know that you care and you will be the first person they think of should they need your services.

  1. Stick to Your Deadlines

Perhaps you have been working with a client and you have a sale that is about to go through and at the last minute the customer requests an extension.  Do you accommodate the customer?  No.  Sticking to your deadlines is an important part of building credibility and increasing the sense of urgency around the decision.  If you give in, the customer will see that you are easily swayed and they might try this same tactic again in the future.

Top Things That Will Catch You Off-Guard During Negotiations and How to Prepare

You want to be prepared for your upcoming negotiation so you do your homework, research the company, come up with a reasonable salary (if you are negotiating salary), and practice with mock negotiations.  All of these preparations are certainly valuable, but they might not be enough to fully prepare you for what’s to come.  When it comes to negotiations, it is inevitable that someone is going to catch you off guard at some point.  Negotiations can be difficult to plan for because you never know what your counterpart is going to say.  Here are some of the most common questions and tactics that might throw you off in a negotiation, and tips for how to prepare for them.

“How much are you currently making?”

If you are interviewing for a new position, this sounds like a reasonable question, right? This can actually be a tricky tactic used by employers to gauge if you would be willing to accept a lower offer.  If you disclose your exact salary, they are likely going to start with a lower number, assuming that you would be happy with a 10-15% pay increase.  Therefore, the best response is to avoid giving an exact number.  Instead, respond with someone like, “I’d prefer not to discuss what I am currently making because the position that I am interviewing for isn’t exactly the same as my current job.  I would prefer to discuss the responsibilities first and then I’m sure we could agree on an appropriate salary.”  If you have already listed your current salary in a preliminary interview or on the application, be prepared to discuss significant responsibilities that you might have taken on that would improve your skill set.

“Unfortunately, we don’t have any room to negotiate.”

You might hear this in a salary negotiation or a business negotiation and it can certainly seem frustrating to a novice negotiator.  However, it is important to remember that some things really aren’t negotiable and in such cases, you will need to look for alternative ways to meet the needs of both parties.  For example, if the salary is truly non-negotiable it’s a good time to ask about the compensation package as a whole including vacation, tuition reimbursement, stock options, flex hours, etc.  For other business deals where price is not negotiable, it is important to ask about other benefits such as payment options, extra time, or any other alternative benefits.

“We need an answer quickly.”

This hardball tactic puts negotiators on the spot, trying to force them into a quick decision.  Sometimes people will request an answer immediately or within 48 hours and you will be unable to provide them with an adequate response that quickly.  There are a couple of ways to prepare for this tactic.  You could respond with something like, “I’d be happy to give you an answer today as long as we could comprise a reasonable escape clause.”  This would give you the opportunity to get out of the agreement should there be an issue that comes up.  Another way to handle this situation would be to reiterate your commitment to customer satisfaction with a response such as, “Customer satisfaction is our primary goal so I don’t want to rush this process but rather take the time I need to give you the best service I can.”  This will buy you a little more time to discuss with your superior and come up with a counter offer if needed.

The Take-It-Or-Leave-It Tactic

This hard bargaining tactic can be intimidating to the novice negotiator so it is important to diffuse the tactic by ignoring it.   Instead, focus on the content of the offer and be prepared to propose a counteroffer that meets the needs of both parties.  It is important to prepare ahead of time for this type of negotiating strategy and have a plan in place should this occur.  Go into the negotiation knowing what your alternative solutions will be and what you are willing to walk away with.

“My hands are tied.”

It is not uncommon for your opponent to refuse your offer with a statement that their hands are tied or that they have limited discretion to negotiate.  In this instance, respond by simply asking, “Who can I speak with that has the authority to make a decision?”   You are not accepting their answer as hard truth and you are putting them in a position to present you with someone who has greater authority than them to negotiate.

Why Silence is Key in Closing the Deal (the Power of Listening in Making a Sale)

When it comes to successful negotiating, the magic solution is quite a simple one: learn how to listen.  The truth is, closing the deal has very little to do with what you have to say but everything to do with what your client has to say.  Keeping their mouth shut is typically very difficult for a salesperson, but when they do they gain a tremendous insight about the customer and their needs. The bottom line is this…the secret to selling involves learning your client’s pain points and you do that by listening more than talking.

Your Product is Less Important Than Meeting the Needs of Your Client

A salesperson’s first instinct is to pull out a demo of their product and start talking about all the bells and whistles.  They spend too much time giving a detailed description of every feature and function and never even stop to ask the client what their needs are.  An important rule of any negotiation is “you never lead with the what, you always lead with the why.” Why will your product be beneficial to the client?  How can your product help solve their problems? Never pitch your product without fully understanding the needs of your client.

Identify Your Client’s Pain Points

In order to find out what your client’s pain points are you need to start by asking them what they think they are.  Some clients will come right out and know exactly what they are while others will not even know they have a problem.  In this case, it is up to you to educate them on the problem they have so they will be able to see how your product can help.

Ask Good Questions

Rather than telling the client what they should and shouldn’t be doing, a good salesperson understands the power of asking good questions.  That means you need to ask the right questions that will help you identify the real pain points of your client.  For example, you can start by asking “Tell me more about what you don’t like about your current product?” Then, you can focus your pitch specifically on those needs.

All of these strategies are important in closing the deal but none of them will be possible without active listening.  The biggest liability most salespeople have is they never know when to stop talking.  All that does is bore the client.  Instead, consider only opening your mouth to ask questions.  Your client should feel as though you are there to listen to their needs and you are more concerned with listening than pitching a product.  In sales, listening is the most powerful tool one can possess.

Personality Traits All Good Negotiators Have in Common

There is one thing most people can agree on: Successful negotiation is no easy feat.  This is a skill that most people would love to improve.  Although there are hundreds of books about how to negotiate more effectively, sometimes this advice can be difficult to apply because the ability to negotiate has a lot to do with personality.   Some personality traits are indicative of good negotiation potential.  This isn’t to say that others can’t be good negotiators, but their success will depend largely on their ability to understand their own personality and build on those traits that are essential for negotiating successfully.  Nobody has all the traits of a world-class negotiator but the following skills are worth developing if you want to improve your negotiation skills.

Patience is the act of bearing pain or trials without complaint or frustration. In this day and age where immediate gratification is expected, the single most important word that a negotiator needs to remember is patience. Patience is the one thing that allows both sides to work through things that might be preventing the deal from happening.  When you slow down your natural desire to rush through the process, you give yourself time to fully understand the needs of your counterpart.  If you want to be successful you have to remember that being refused, delayed, or criticized is part of life.  Success comes to those who are patient.

Empathy is the ability to understand and share the feelings of another.  In other words, you need to be able to put yourself in someone else’s shoes.  In a negotiation, empathy is important because it allows you to see the other’s perspective and conduct the negotiation in a way that is beneficial for both parties. It is the foundation for good communication and is a necessary trait for great negotiators.

Integrity is the quality of being honest and having strong moral principles- both of which are necessary for others to trust you in a negotiation.  A negotiation is more than just a discussion or a signed agreement.  It is an unwritten judgment on the character and integrity of the participants.  Without integrity, no deal has very much value.  It is a necessary component for good negotiations.

Flexibility in negotiations refers to the willingness to change or modify.  You have probably set your goals and devised a negotiation strategy but midway through the negotiation, you realize the discussion isn’t going the way you had planned.  The key to closing the deal is learning to be flexible and modifying the situation.  If one approach doesn’t work, try another.  All good negotiators understand the need to be flexible.

Stamina is the ability to sustain prolonged mental effort.  Great negotiators are willing to keep working and moving right along when others seem to give up.    They know that you can’t win if you give up the fight.  Stamina is an important attribute of all great negotiators.