Negotiating is one of the most important life skills you could ever master, whether you’re requesting a raise, asking for a date, or trying to get your kids to finish their vegetables.
However, this skill is particularly useful when trying to “sell” products and services. Salesmanship can literally make or break your business — no matter what business you’re in.
Very few of us are born with this ability, but like any other skill, you can learn to sell anything to anybody.
Below are some tried and tested rules for going from a “No” to a “Yes.”
1. Focus on Benefits over Features
Many novice salespeople focus on the features of their products or services — i.e. the bells and whistles that make their offerings unique.
This is a mistake.
- Customers don't buy computer processors. They buy the speed that the processor provides.
- They don’t want space-age mattresses. They want a good night's sleep.
Instead of marketing features, focus on the benefits to the user.
At BluePay, for example, we provide tokenization and P2PE payment security (i.e. features). Though what we really offer is peace of mind at a time when credit card fraud is on the rise (i.e. benefits).
2. Know Your Market
In order to define the benefits of your products and services, you have to understand what makes your audience tick. Only then can you determine what's in it for them. Plus, you can express that benefit in a language they understand.
Using the processor example again, you may be able to sell a technophile on speed. Yet a technophobe may be more interested if you re-word that same benefit as "less waiting" or "zero lag times."
You usually only have one shot to convey your message. It pays to do your homework on each customer segment you want to target.
3. Find Common Ground
Resistance is natural — no one likes to be sold on anything, but hesitation isn't necessarily a bad thing. Sometimes, you have to find out what hurdles are preventing you from getting the "yes" that you desire.
Selling is not a monologue — it is a dialogue, and during that discussion, you should be listening more often than talking. Ask questions to discover potential problems or hidden biases:
- If price is holding somebody back, consider removing some features (while maintaining the same benefits).
- If uncertainty is the issue, try offering a guarantee that removes any risk.
By asking relevant questions and listening to responses, you can discover a wealth of actionable information.
4. Make Buying Easy
Sometimes, the roadblock isn’t psychological — it's technical. Complicated shopping carts, wordy Jargon or hefty price tags can instantly kill a sale.
As a seller, you should remove as many hurdles as possible. Consider solutions like:
- Bold calls to action that make shopping a breeze.
- Installment plans that make expensive items more affordable.
- Multiple payment options — from credit cards to Bitcoin to Apple Pay.
If you're not sure how to get started, ask friends and family members to go through the entire shopping experience. Be sure to analyze whatever pain points might lead to checkout abandonment.
The Most Important Selling Tip of All
Receiving a "no" can be incredibly discouraging, but the most successful salespeople are also the ones who get rejected the most often. Rather than quitting, however, these individuals use each objection, hesitation and rejection as learning experiences to refine their message and approach.
Adopt this same attitude and you'll be amazed how quickly you begin fulfilling orders.
To learn more about offering multiple payment options contact our payment team today for a free consultation.