Whether it is year-end or mid-month, business grows when revenue hits the books. Too often businesses, particularly entrepreneurial enterprises, rely too much on strong monthly finishes. Insecure managers are quick to accuse their teams of procrastination. The reality is that buyers will often stall if they believe that they will get a better deal. The belief that the first team to commit in the buy – sell engagement loses, is an inaccurate yet common mindset! What if the early offer is truly the best offer? Or how about the prospect or proven customer that is convinced that scarcity of goods or early teaser prices signal that late offers could lead to dramatically worse outcomes for buyers, like rising prices? Scarcity is not always a sign of strength, nor does it necessarily reflect weakness. Profitable markets are now much more complex. More importantly, buyers often feel pricing pain pivoting quicker, if they hold out too long.

Where’s the Advantage?

Well, how does a seller maximize that fear? In environments where buyers have as much information as sellers, or even worse the buyer knows that the seller desperately needs the buyer, the salesperson is out of luck. Take the seller’s offer and wipe your tears on the way home. But, what happens when irrational competitors enter the fray, or delivery time weighs in as much as price with regards to selecting and/ or engaging a vendor? At some point the effective seller gets an opportunity to seize advantage, even momentarily, by suggesting that the product or service that is truly needed may have a shelf life, or even be subject to less supply than expected. Who is now weak in the knees?

Effective sellers must maintain a polite, yet seductive sense of secrecy. Ethical sellers would never keep a commodity from a cherished buyer. But, who knows what problems may lie in entertaining that other alternatives may be more attractive. Yes, a better price may be available. But, slow service or inferior inputs may be a hidden tax for a price-effective option. In short, the clever sales professional needs to create enough uneasiness that will motivate a purchase closer to the seller’s terms. Even in the case where competitors are operating from a point of strength, problems exist in larger organizations that customers assume would never impact their operation. Except for the hint or suggestion that if that larger organization were immaculate in their performance, why is this conversation taking place?

Where’s the Deal?

Essentially, sales success comes down to meeting a specific need for a specific purpose. Agreeing to an established method of operation definitely comforts buyers who are highly confident. But, the wheels of commerce are unpredictable. In a competitive environment, who is to say that your trusted environment which exudes excellence is now the object of desire for one of his competitors. Even the best clients are willing to find and act upon better opportunities. How can a buyer, or customer be sure that they are actually getting the best attention at this time?

Fundamentally, the response largely relies on people and relationships. Businesses work hard to market their excellence so that the market trusts their performance. Yet, at the end of the day, people demonstrate that excellence! For a seller who is looking to grow, an often overlooked, but yet effective tool is to convey confidence that the individual in conjunction with the organization consistently delivers excellence. The individual relationship between buyers and sellers must be established and maintained, as if they were buying apples in the local Farmers’ Market. Fundamentally, buying and selling remains captive to like and trust. Successful sales means incessantly reinforcing that relationship. Because of that fundamental connection, great sellers execute at the pleasure of the buyer across the metaphoric table. Remember that people are making the decision regardless of the transaction’s size. Be mindful to execute the sales process, all the way through to the actual transaction, concluding with delivery with the goal of making the individual contact, or leader happy. In the long-run, people still do business with people they like and trust!

By Glenn W Hunter

Managing Director, Hunter And Beyond, LLC

Author, Storytelling Wins The Best Engagements

Posted in Business Development, Client Relationships, Content Creation, Creating Culture, Ethics | Tagged Business, Business Development, Entrepreneurship, Growth, Marketing, New Clients, Relationships, Results, Sales, Storytelling, Success | Leave a comment | Edit