Peak Your Profits: Are they vended?
Years ago, a client in Minneapolis said to me, “Jeff, we’re the market leader. So the only way we can grow is by earning the right to take away or ‘steal’ business from a competitor or another vendor.” He then asked, “So how do we deal with the ‘vended customer?’ ”
Whether you are or aren’t the market leader, this objection is a common one. And it’s expressed by my client’s prospects and your prospects in lots of ways. Like:
- “We don’t want to make a change.”
- “We already have a long-term relationship with somebody else.”
- “It would be a hassle to start with someone new.”
- “They’re not the best, but at least we know what to expect.”
- “I like what you offer, but we’re not looking for new suppliers.”
So how do most folks reply to these attempts to block and barricade? Typically, they go into “sales overdrive.” Immediately doing a data-dump on why they’re better. Faster. Smarter. Cheaper. These are all losing strategies. Customers don’t like to be told they’re wrong or that they made a bad decision.
Instead, here’s a far simpler and more effective strategy that I teach to my clients. It works quickly and effectively, because it lets a decision-maker answer a simple question: Does it make sense?
All you need to do, is say something like: While many of our customers/clients have … realized, discovered, enjoyed (use or create the word that works for you); great, significant … value, results … from changing, relying on us … what we really need to do—is determine, how it makes sense for you.
Then, get to work with your power probes or questions to confirm how it makes sense for them. You can also position the preceding with a question.
For example: Many of our customers, clients have enjoyed significant value from relying on us. How does changing, so we can work together, make sense for you?
When they answer in a positive way, it gets you closer to a “yes” and a sale. Especially, because they’re justifying how it makes sense.
And remember, vendors are expendable. Partners are invaluable!
The preceding is an excerpt from the new 5th edition of Jeff’s bestselling book, “Peak Your Profits.” It’s scheduled for a summer release and will be available on Amazon and at your favorite bookstore.
Jeff Blackman is a Hall of Fame speaker, author, success coach, broadcaster and lawyer. His clients call him a "business-growth specialist." If you hire speakers, contact Jeff at 847-998-0688 or firstname.lastname@example.org. And visit jeffblackman.com to learn more about his other business-growth tools and to subscribe to Jeff's free e-letter, “The Results Report.” Jeff's books include “Stop Whining! Start Selling!” (an Amazon Bestseller) and the soon-to-be released 5th edition, of the bestselling “Peak Your Profits.” You can also stay connected with Jeff via Facebook, LinkedIn and Twitter: @BlackmanResults.