One of the most important things a seller can do is understand where their client, the buyer, is coming from. Knowing what the buyer needs and wants is pivotal to not just making the sale but also building a trusted relationship that lasts.
An expert on this topic, and my co-author on Same Side Selling, is here for today's episode: Mr. Jack Quarles. Jack has been in the procurement/buying side of the sales equation for nearly two decades. On this episode of Grow My Revenue Jack shares his insights on what's going on in the minds of buyers and why those insights are so important for sales professionals.
Listen to this episode and discover:
- What is the biggest mistake sellers make when approaching buyers?
- Why focusing on saving your buyer money will often backfire.
- This key phrase instantly positions you to be seen as a trusted advisor: what is it?
- When someone leans on price what is Jack's immediate response as a buyer?
- What is the value of disarming the potential buyer?
- And so much more…
Episode Overview
With almost 20 years of experience under his belt, Jack Quarles has earned the title of expert in the world of procurement. He has seen and experienced firsthand nearly every possible scenario a buyer could, and he's lived to tell the tale!
One of the many reasons I brought him on as a guest is because of his experiences and expertise. On today's episode he specifically shares the biggest mistake he believes sellers make when they approach buyers, why focusing on price doesn't work with today's sophisticated buyers, and the two questions he always recommends buyers ask a prospective vendor (and why they are important to know as a seller).
The biggest mistake he sees sellers make when approaching buyers is focusing on price. Buyers today have gone beyond the budget-based buying of times past; they are sophisticated and understand the lowest price is not necessarily the best fit or the best value for their company.
As a seller it's imperative you convey to them that you understand that they are a sophisticated buyer, one who looks at both price and at value. Let them know you know they are looking for long-term value and a long-term relationship that goes beyond what you are selling and in fact can overlap and reduce their costs in other areas as well. When you can share that understanding they will begin to see you as a trusted advisor.
In alignment with the focus on value and price, there are two questions Jack always recommends you be prepared for from a potential vendor. These are the two questions he encourages any buyer to ask during a sales meetings with potential vendors.
The first question is what kind of company is your best fit and what are some of your success stories? The second question is who are you not a good fit for and who are some customers you brought in that didn't work out and why wasn't it a match?
These questions are important because authentic answers from you as the seller will give you an honest assessment of where you deliver a ton of value and results, and where you do not. If you can give real answers to the vendors, your potential new clients, they will again trust you as an advisor and a resource. Even if you don't make the sale if that vendor trusts you they are very likely to give you referrals from people they know: all because you were honest and authentic.
Also on today's show Jack shares the difference between resources and results in a sales situation, we play a word association game where he says whatever comes to mind when I ask him certain phrases sellers use during a sales process and Jack gives the greatest advice he has on creating a better relationship between buyer and seller. Be sure to listen in and then apply what you've heard today grow your revenue.
Discover more at http://www.growmyrevenue.com/business-cast/
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