“Every sale has five basic obstacles: no need, no money, no hurry, no desire, no trust.”
— Zig Ziglar (Star salesman, author and motivational speaker)
If you have worked as a part of the sales & marketing team at a startup or a small business, you should be able to readily agree with this quote. Sales is one of the hardest components of running the business and without sufficient attention to this department, your company could soon find itself in the deadpool. In this post, I will focus on how you can address each of these impediments that blocks you from completing the sale.
As startups, we tend to work in the cutting-edge market segments that have not matured enough to create a strong need. Who would have thought about the need for a micro-blogging solution 8 years ago or a search engine 20 years ago? Thus, it becomes imperative that we convince our customers about how our product can address their pain-point, before it is even realized by them.
To address this impediment, the company should start from the product development stage, and clearly identifies the pain-points and its targets using market research. The product team should then develop different customer personas and clearly document what the pain-points & how this solution will solve them. This will help the sales force convince the customers, once the product is done.
The sales organization should also work on clear messaging tactics using blogs & social media to convey the advantages of the product. In case of B2B, address the messaging to the CEOs and the board about how your product can help their company work better.
If you are talking to the CFOs, their fundamental concern will be about the money. How do you convince the clients to open their purses?
One of the ways to address this impediment is by providing a free trial period that will convince the customer that your solution can really save them the money. The second way is by preparing a detailed & realistic cost-benefit analysis that puts numbers behind your sales pitch.
The third thing you can do to address this, is by providing a tiered service – basic, full, premium, etc that allows the customer to test the waters with a lower tier product before moving on to a premium product.
I will cover the remaining 3 impediments in the part 2.