Two ways to sell more are to shorten your sales cycle – so you can get to the next deal sooner – and increase your close ratio. Here is a story that explains how you can do both at the same time!

Jim (a hypothetical salesperson) gets what sound like positive buying signals with his prospecting calls. Somehow, though, he’s not getting very far.

“People tell me to call back in two months, four months, six months, when they will be looking at this problem” he says, perplexed. “When I call back, I get people telling me how glad they are that I called … but my sales cycles are long and my close ratio is low. What’s going on?”

In response, I would give Jim the following advice.

“Jim, when you cold call someone in an attempt to sell them something, you’re interrupting that person’s day. The dominant instinct is always going to be for that person to find any reason to get off the phone and get back to what they were doing before you interrupted them.

“Your goal has to be to maintain your poise and get past that first fifteen to thirty seconds of the initial call … which is always going to be a little bumpy.

“BUT — the reason you’re riding out those first fifteen to thirty seconds is not so you can try to turn the person into a short term prospect on the spot!

“Actually, you’re trying to discover if this person has experienced a Trigger Event. If there has been such an event you want to find out what it was and when it happened. The Trigger Event could have taken place quite a while ago, it could have happened only recently, or it could still be on the horizon.

“These Trigger Events typically fall into one of three categories:

1. Bad Experience: The buyer has a bad experience with a product/service, with people, or with a provider. For instance, there may have been a product/service change that creates dissatisfaction.
2. Change / Transition: The buyer has a change or transition in people, places, or priorities. For instance, there may have been a change in the buyer at an account.
3. Awareness: The buyer becomes aware of the need to change for legal, risk-avoidance, or economic reasons. For instance: The person may have a new understanding that buying from someone like you is less risky than continuing to buy the existing solution.

“During the first minute of your call, use the opportunity to understand which of the following three buying modes the buyer is in:

“Status Quo: The buyer is completely happy with what he or she currently has. There has not been a Trigger Event in the recent past, but there may be one on the horizon. You may think this person is a waste of time and may want to move on to the next person on your list. Actually, if this person has money, authority, and influence, this is a great long-term opportunity. A strategy for this type of call is to start the relationship building process. I would also suggest that you check back in on a monthly basis to see if a Trigger Event has recently happened.

“Searching For Alternatives: This person is unhappy with what he or she has, has spoken to several suppliers, and probably already has a favorite. A Trigger Event took place a while ago, and they’ve already taken action on it. You may think that this is a short-term opportunity … because the buyer is actively talking to a number of potential suppliers. This is in fact probably a medium term opportunity … because it is highly likely this buyer already has a first choice! Selling to buyers under these conditions typically results in a lower close ratio and a longer sales cycle – exactly the problem that you are experiencing. A strategy for this type of call is to position yourself as the buyer’s number-two choice — so you get called first if the buyer’s current favorite falters. You should check back every other week to see where you stand.

“Window of Dissatisfaction: A Trigger Event has recently taken place and this buyer knows that what they are currently using is no longer sufficient, but has not done anything about it yet. Because they tell you to call back in two months, four months, or six months you make a note to do that and move on to the next person on your list. Wrong answer! This is actually a short term opportunity, because the buyer is not talking to your competition — yet. When you call back a few months later, even if you call a few weeks early thinking it will give you and edge, it’s very likely they will already be talking to your competition. The strategy for this type of call is to identify the business opportunity and pursue it immediately — with as much happening on this initial call as possible and future contact taking place in the very near future. You must find a way to push a little bit and learn more about the Trigger Event, then try to set a near-term course of action.

“As it stands, Jim, you are focusing on those people who are already talking to your competition … and missing the biggest opportunities: those buyers in the Window of Dissatisfaction, who recently experienced a Trigger Event and have not started talking to your competition. That’s why your numbers are as bad as they are; that’s also why your sales cycles are so long and your close ratio is so low.

“Jim, you need to do a better job of ‘staying on your feet’ for the first thirty seconds or so of the call — long enough to ask a couple of questions that will help you learn whether the person has:

• Not experienced a Trigger Event in a long time
• Experienced a Trigger Event a while ago and already doing something about it
• Recently experienced a Trigger Event and has done nothing about it –– yet

My suggestion is a variation of “Has anything happened (or changed) recently that makes what I sell of more interest or value?”

Once you learn if, and when, a buyer has experienced a Trigger Event you can apply the appropriate strategy. When you do that, and focus FIRST on those people in the Window of Dissatisfaction, who recently experienced a Trigger Event and have done nothing about it yet, you will have a shorter sales cycles and a higher close ratio!

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I have the fortune of being on advisory teams for a number of technology firms in the San Francisco and Boston areas and I have a very distinct memory of when I learned the power of different perspectives.

One of the companies I’m an advisor for is VendorRate.com – They take the risk out of buying technology. One day Rick, the CEO, and I had this conversation about selling and disco balls. When the conversation started my first thought was what do disco balls have to do with selling?

It turns out that whenever Rick explained his business everyone saw the problem he solved from a different perspective -  their own. Rick is a very savvy entrepreneur and quickly figured out that once the customer has their own perspective on the problem he solves or the solution he provides the sale is half way there.

Every day sales professionals get to make a choice – Right or Rich. Let me explain. I know a sales trainer who has a hyphenated first name and when people first hear her name they often assume that it’s her last name that is hyphenated. She would rather be right than rich and if you make the mistake of just calling her by the first part of her hyphenated first name – thinking the last name is hyphenated – she’ll stop you in your tracks and make sure you know that you made a mistake and that it’s her first name that is hyphenated.

She could just let it go and be happy making the sale – being rich. But she chooses to be right and as a result regularly alienates the prospect which causes her to lose the sale and more importantly ruin the potential to build what could be a fruitful long-term relationship.

So the next time you have a prospect that sees your solution from a perspective different than the one you have – SHUT UP! The customer has already been sold! If you try to fix their perspective all you do is alienate them and reduce the likelihood they will become your customer.

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Have you ever had a sale that closed really quick?

One that resulted in a core, loyal, customer that will gladly act as a reference and give you referrals.

How did you make that happen? I will argue that you had two things working for you timing and a relationship.

When you have the right timing the sale almost happens by itself – There are few challenges getting to the decision maker, understanding their dissatisfaction, presenting a solution, or closing the sale.

When you have the right timing you get the best customers – Highly appreciative, loyal, customers who represent 80% of your profits, be less than 20% of your headaches, and are most likely to provide you with the most treasured thing in sales, timely referrals.

But timing alone didn’t win you the sale. You won that sale because you already had a relationship with the decision maker when they developed a need for what you sell. This relationship probably resulted in first mover advantage – You got to the decision maker shortly after after their buying process started but long before your competitors selling process began.

Those who expect to close out March with a strong first quarter strong know it’s not the decision makers they are talking to today that will make the difference.

It’s those who they don’t have a relationship with yet but are highly likely to experience a Trigger Event in the next 30-60 days and now have an urgent need for what you sell.

Don’t wait until they experience the Trigger Event and want what you sell. By doing so you start out in the red zone of the Credibility Curve below and you are unlikely to win the sale.

Spend a little time figuring out:

• Who do you want to be selling to in March?
• Which  Trigger Event will cause them to want the products or services that you sell?

Then start building a relationship today with those most likely to the have a need for your product or service in the next month or two. Move into the green zone by treating them today as you treat your best customers  and soon so they will become one.

So avoid the “I need to make my number” madness at the end of March and start building relationships today with decision makers who are most likely to have a need for your prodcuts/services in the next 30 – 45 days.

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