Using
Value Vs. Risk Questions
Once a sales
professional has gone through the process of asking “what if”
questions to determine a customer’s
priorities and openness to solutions, she can move towards conducting
a value versus risk analysis. Now, remember, just as in the last
stage, these questions need to be provided in a generic manner.
You should still refrain from mentioning a particular product or
service or even your own company.
To go through
this process, you need to have a good grasp of the strengths and
weaknesses of both your company and your
competitors. What you want to do is tailor your questions to
play to your strengths and not your competitors’. Based on the questioning
skills you have already used, you will also have a solid understanding
of your customer’s
needs and attitudes. Of course, you need to know your products
and services well. This is all important
information as you guide the customer via open-ended and closed-ended
questions to extract additional information.
So, we can pick up where we left off…
Sales Rep: “If there was a way to customize
the order based on your specifications and not on pre-determined
options, would that be important?”
Customer: “Oh yeah, I’d definitely say so. We’ve
had the toughest time finding someone who can meet
our specs. We don’t want something off the shelf – we have specific
needs.
Sales Rep: “What if you weren’t able
to order based on those specs?”
Customer: “We’d be at a standstill. We’d either
have to come up with the manufacturing
capability ourselves… that will take us a good six months… or
change our final product. Neither is an attractive option.”
As you’ll notice,
the second question brings out the possible risk of choosing another
option. The customer is able to provide key information of use to
the sales
rep.
Here are some other sample questions
that demonstrate the use of the value vs. risk analysis in use:
“If there was a way to utilize the existing warehouse with
the new sorting capabilities, would that help distribution?”
“What if
you could find a vendor who could not only provide the technology
but also ensure that your team would be ready to use it. Would that
make the transition
easier?”
“If it wasn’t possible to have the product on the loading dock
by the deadline,
how would that affect your
sales?”
The information
you gather in this stage can then be confirmed with confirming questions.
They are used to clarify interest and commitment to a specific course
of action or a potential recommended
solution.
“Would it be fair to say that finding a company that could
provide that capability would make your job easier?”
“So, if it turned out that the inventory could be paired up
with a willing buyer, would that service be of benefit to you?”
“What you’re telling me is that the capability to have your
support staff trained on the application before the new year would
be of importance?”
Practice using these questioning techniques
to accurately determine your customer’s
concerns and true motivations in order to make the appropriate
recommendation.
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