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Presentations don't make sales. They prevent sales.
Every time I say something like this in a sales training program I get looks that are a cross between "Yeah, sure." and "What planet is this guy from?" After all, everyone knows that a dazzling presentation is key to successful sales calls. Why, just look at all those adds for presentation coaching, graphics and related stuff. It must be important, right? Wrong. There is a purpose for presentations, but it has nothing to do with sales calls.
How Presentations Inhibit Selling
Why am I against presenting during sales calls? Two reasons:
1. They're Me-centered.
I present my firm, my service, my experience, my accomplishments. Me, me, me. But what does the prospect care about? His business. Her problems. Looking good to his boss. Keeping her picture out of the paper.
2. They're too broad, and too long.
What should we present? Our natural inclination is to present our own specialty. But, we don't really know what this prospect is motivated to do, so we feel we should cover all the bases and present most, if not all, of our firms' services. And since we may not know a lot about some of those services we take along other lawyers to present them. Result: A benumbed prospect hearing too much from too many.
Five things we should do instead:
1. Stop talking about our skills.
Talk about the prospect's business. He doesn't care what we can do. He cares what we can do for him.
2. Probe for the Imperative: the highest priority problem or opportunity this prospect must do something about.
You come back from a sales call feeling good about the meeting, the chemistry, etc. A month later you're wondering why you haven't heard anything from the prospect who seemed so interested. "Interested" is the problem. Lots of things are worth talking about, particularly if lawyers from a well-regarded firm are willing to do most of the talking. But most subjects don't require action, so they just fade away.
Research shows that in 30% of selling situations, nothing is purchased. That means that many sales professionals talk to the wrong people about the wrong problems at the wrong time. Lawyers are new to selling, so they likely have an even higher No Decision ratio.
3. Know what you want to know.
"What do you care enough about to fund action on today?"
Think about how executives prioritize. There are many thousands of things they are aware of. Let's say fifty that they're interested in. Two dozen that they care about, i.e., their emotions come into play. Six that they'll actually do something about, take action. Three that they'll fund, commit money to. Two of those, maybe only one, are demand immediate attention. That is where we must focus our sales effort -- on finding the thing that must be done.
No executive has either the time or money to do everything she would prefer to do. Maybe even that she should do. But she makes time and finds money for what she must do.
Once we know what someone is already motivated to commit funds to now, how difficult can it be to complete that sale?
4. Learn the basis for decision or preference.
Astute probing often exposes and crystallizes issues that nagged at prospects, but which they couldn't articulate usefully. If you bring the prospect to that type of clarity, you will often be asked to solve the problem. While you may be able to keep it sole source, assume that competitors will nose their way in. So learn the basis for decision. "How would you select among firms with equally impressive credentials?" This answer is always an emotional factor, or a style factor, because "equally impressive credentials" eliminates the empirical factors.
5. Have the prospect define professional and personal victory.
Don't assume that the prospect shares your definition of success. Ask "What would a successful engagement look like?" "How can we make sure we're delivering not only what you want, but how you want it?" "How can we make you look good?"
Now you can present the solution they've already bought.
Arrange another meeting to present the specifics of how they can get all the benefits and results they said they wanted. Make sure all decision makers will be present. Things may change before your presentation, so first reconfirm all assumptions. Restate the prospect's problem, the desired change, and the value your solution brings. Now describe your solution, giving only enough detail to enable a decision. Express "how" rather than "what." Now talk about your credentials, but only enough to establish credibility for the solution. Compare your value claim against cost to maintain perspective. Ask for the business, and expect it.
The key to selling is investigation, not presentation or persuasion. Learn what someone wants badly enough to give up time and money to get. Buying will be much easier for the prospect, and selling will be easier for you.
12 Questions for Client or Prospect Calls
- What problem needs solved, or what opportunity does the client wish to exploit?
- How important or valuable is the problem or opportunity in the client's eyes?
- What tangible results will the client company receive if the problem is solved?
- What personal/emotional benefits will the client receive?
- What is the cost of doing nothing? What losses or pain will the client experience if the problem isn't solved?
- What obstacles will impede us?
- Within what time, budget or political limitations must we solve the problem?
- How will our service solve the problem and deliver the promised benefits?
- Why should the prospective client believe that our solution will work?
- What does the prospect like about our competition?
- What prevents this competitor from being the automatic winner?
- What is the basis for decision among competitors?
Our Credentials Aren't Unique
We think our service, experience, etc. is important to the buying decision. Those things are important to the decision to let us in the game. But they have nothing to do with choosing between competitors. Why? Because everyone invited has the same credentials. That's why they and we got invited.
When we take 2-3 hours of a prospect's time talking about how well we can do the job, it's akin to a trial lawyer wasting the court's time arguing a point that the opposition has stipulated.
The president of a well-known market research firm explains that executive buyers of legal services perceive "name brand" law firms' skills as being in the 96th percentile. They cannot discern 97 through 99. They assumed we could do a great job when they invited us. Why waste their time proving a point they've accepted?
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