Paradenitis

While ordering a sandwich at a nice deli last week, the cashier asked if I would like to replace the normal side of chips with an apple. Since I’m trying to watch my weight, I proudly agreed to the healthier choice. When my order was up I was disappointed to see the sandwich flanked by a bruised Red Delicious apple.

For some reason, I was expecting a Granny Smith apple, my favorite. At the moment of my apple impulse, my decision was based solely on one factor – health. I failed to realize that there are dozens of varieties of apples that vary in taste, size, and quality. I tried to boil my decision down to an “apples to apples” comparison, by comparing only one aspect of the two possible sides. As a consequence I was stuck with something that I paid for and certainly didn’t want.

The same mistake occurs when prospective customers ask you to prepare your pricing proposal into an “apples to apples” comparison. Customers request the “apples to apples” comparison when they want to make a valid comparison between your proposal and the proposals of the other worthy suitors (your competitors). They want something easy to understand, something devoid of any sales tricks, and something that will make their purchase decision an easy one.

Customers really want to buy answers, solutions, or help to a current situation or problem. Period. They want a vendor who is looking out for the overall (and continued) success of their purchase, not just a vendor that wants to sell cheap apples.

An “apples to apples” comparison doesn’t work this way. You can’t compare items side by side to make the perfect decision; you’ll just get stuck with a bad apple. Rather than letting the customer decide what is best for them overall, the “apples to apples” situation narrows their decision down to only one differentiating factor. This single factor is often price. With this comparison, the customer becomes so focused on that one detail of the purchase (the price) that they forget about the other aspects that will help them make the best decision.

The customer’s failure to remain focused on what it is they are truly buying leads to questions that, when taken literally, can get the salesperson off track and further away from making the sale. Your task is to guide the customer back to their true purpose of the sale, rather than letting them get lost in one detail. You want them to realize on their own that your product or service is more than just a budget item; the decision to make this purchase has real consequences.

Lead customers away from the “apples to apples” comparison by asking great questions that help them verbalize exactly what they are looking for. Ask questions about why they decided to purchase the product in the first place and what they are hoping to get out of out. How do they typically select the vendors that they work with? What factors, other than price, do they consider when they are deciding which product and company makes the most sense for their company? How do they determine whether or not they made the correct purchasing decision? What are the main objectives or goals they are hoping to attain by making this purchase?

Through engaging questions, they will realize that the “apples to apples” approach is not the best way to address their particular purchase. They will see and consider everything you have to offer, rather than just focusing on price. Because of this, it will be much harder for your competitors to win. Rather than just beating your price, they will actually have to compete with all the wonderful aspects of your product and company.

Tom Richard conducts seminars on sales and customer service topics nationwide. Tom is also the author of Smart Salespeople Don’t Advertise: 10 Ways to Outsmart Your Competition With Guerilla Marketing, and publishes a free weekly ezine on selling skills titled Sales Muscle. To subscribe to this free weekly ezine go to http://www.tomrichard.com/subscribe

Everyone knows what “cold calling” is, but how about “warm calling”? That’s easy, warm calling involves contacting your former clients and people you have already identified as prospects.

These are the people you had made previous contact with and are listed in your database or on your Rolodex. If appropriate for your industry, I recommend spending one hour a day calling your database.

To gain the greatest benefit from your warm calling efforts, you should provide an exceptional level of customer service and give unexpected bonuses to your clients throughout your sales process.

This way, your past clients will be happy to hear from you and eager to help you find new business.

Let’s see how you can “heat up” your warm contacts to create hot new business leads.

Build rapport – All right, it may have been some time since you last talked with your contact, so a little refreshing of his or her memory might be necessary. Use the time to re-establish your relationship, inform him or her about your unique selling proposition and inquire about their current needs.

Ask for referrals – Here is an example of how a mortgage loan officer could ask for referrals: “Do you know anyone who may be buying or refinancing real estate in the next 3 – 6 months?” Especially useful if your “warm contact” absolutely has no need for your services at the present time.

Tell him or her about your current gift incentives for referrals – if you have a plan in place, let him know. One example: “If you refer new business to me I will pay for dinner for you and your wife at Outback Steakhouse.” Or, tickets to their favorite sporting event.

Review their current situation:
Is their any current need for your product or service?
Have their plans, needs, or goals changed?
(If this is your past client you should have notes on hand about their long and short term plans)

Be sure to keep notes on every call in your database or files. Update all of your contact information to include any changes.

If you have made arrangements to “warm call” clients on someone else’s list, offer to split any of the commissions generated.

Yes, warm calling is a great way to stimulate business especially in a competitive marketplace. Once a day, pull out your “warm call” list and contact people. Add to the list those whom you previously “cold called” and see as a potential future client.

For more information about this and other lead generation strategies, visit:

http://Mortgage-Training.Mortgage-Leads-Generator.com

Please feel free to reprint this article as long as the resource box is left intact and all links are hyper linked.

Hartley Pinn has recently created the Mortgage Leads Generator Training Course to teach people how to make over $50,000 a month working part-time (10 to 15 hrs per week) as a mortgage loan officer.