How to Sell Your Product or Service - Developing Options for Clients (Part 9 of 11)

Bio: Sales Motivation speaker, trainer and author Victor Antonio is proof that the American dream of success is alive and well. A poor upbringing from one of the roughest areas of Chicago didn't stop Victor from earning a B.S. Electrical Engineering, an MBA and building a 20 year career as a top sales executive and becoming CEO of a multimillion dollar high-tech company.

Prior to being CEO he was President of Global Sales and Marketing for a $420M company. He was tasked with building a global sales force, establishing contract agreements, developing financial pricing models and in charge of developing the corporate brand and marketing the company's services for worldwide acceptance.

Before that he was Vice President of International Sales in a Fortune 500 $3B corporation at the time. Within a two and half year time period he grew their business from $14M to $98M in annual revenue. During that time period his sales totals were $162M and was selected from over 500 sales managers to join the President's Advisory Council for excellence in sales and management.

International: His success in sales and management also helped him establish channels internationally. He has conducted business in Europe, Asia, Saudi Arabia, Australia, Latin America, Middle East, United Arab Emirates and South Africa.

[andresvaldes]

What I learned:Developing Options for Clients: At this stage we educate and not sell what the options are. Highlight the pros and cons of no more than 3 options. Mentally you are steering them to a specific option. The 4th option is "You do not Mr.Customer. And this is what will happen... Explain what will happen for not taking action to the customer" Our job as sales people is to create that urgency. By showing them the 4th option we are increasing the sense of urgency. Create a storyline on what will happen if they dont take action. We want to demonstrate that not taking action is detrimental to their business. Have a story about another customer who did not take action and what happened. Exercise: Write your story now.

[hassanfathinasab]

Well, I enjoy these series Mr. Antonio.
I keep watching your videos and hope to see more from you. The biggest difference between these series and the speeches of the other motivational speakers is that there is a technical discussion here. Other people try just to motivate the audience to sell, but never explain how to do that and how to face the customer. I recommend these series to friends.
Thank you Victor!

[davidgudalj]

Victor, I'm a big fan of the Life or Debt show on Spike. Just wanted to say, I love the analogies and examples you use. Keep up the good work.

[unclep]

Thanks alot Victor,

Am 23 and recently promoted to be a Commercial Coordinator of a MVNO . Your Tutorials are really great and I hope to put them into practice so as to achieve the high goals set for me by the end of this year. God Bless !!!

[bradpittyay]

education based selling the late and great Chet Holmes was a great exponent of position your self as the expert, educating the prospect

[Azmarin]

Thank you and i will share your videos with my

Thank much

[BizHangouts]

Another fine video on How to Sell Your Product or Service - Developing Options for Clients

Here is a review of the video's key points

Once you finish the demo what is the client thinking at this point?
- what are my options?

We enter the options phase of the sales process

Sales Process steps 
1. Research
2. 1st meeting
3. Presentation
4. Demo
5. Options 
    a. Educate
    b. Pros & cons
    c. No action
    d. Sense of urgency
6. Pricing 
7. Close

The prospects wants to know their options after your demo them

Options Phase
a. Educate:
- educate them on what their options are
- go into the instructor educational phase
Example 
  “Let me walk you through some of your options”

b. Pros & Cons
- go through the pros & cons of the different options
- don’t offer them more than 3 options
Example
  “Mr. Prospect, based on your problems & the situation you find yourself in & how we can help you; let me recommend 3 options or have you consider 3 options we currently have.”

Go through the first option identifying the pros & cons
“… here’s why it’s great for you, here’s what you’re not getting with this package..Another option you might have is this one. You get this, this  & this but you don't get that. And you may need that Mr. Prospect. This 3rd options which I highly recommend, it has this, this  & this but it doesn't have to much downside as you don’t need those features. “

- Structure the 3 options best suited for your product or service
- be very clear cut in your presentation of the options
- be clear cut in your pros & cons so the customer says “I get it”
- steer them towards an option based on what they told you

c. No action
Gone through the demo & they say “I'll think about it “or “maybe in 6 months”
- that is a no action response
- if they don’t take action these things will happen
Say “Mr. Prospect, the 4th options  you have is to do nothing. Mr. Prospect, If you decide to do nothing let me show you what the downside will be.”
- list the long term effects of doing nothing

d. Sense of urgency
- you must create a story line, a narrative so to speak on what will happen if they don’t take action
- Victor tells a story of a dog lying on a tac which is related to a prospect in pain but does not take action. And that it is our job to create enough urgency that a prospect will take action
- our job is to grow the tac
- if you don’t take action this is what will happen
- by telling them about the 4th option you art trying to grow the tac, increase the sense of urgency; so they take action.
- your goal is to make them aware that by not taking action it really is detrimental to their business
- you can have a story about a prospect you had that didn't take action & talk about what happened to them

Recap the Options
• Have the 3 options
• The invisible 4th option a
• A  story based on what happens if they don’t take action

Workshop
Write down your 3 options
Write down the invisible 4th option; your response to “no action”
Create your story on a prospect that suffered by not taking action

[EdwardChuTV]

Just follow what's VA said and it will close more sales !

[davidchunkyonion]

Nice advice but you omit one crucial point. All of this assumes that you are speaking to a decision maker.

[dylanbrannon]

This guy is excellent. However, as a viewer, I get caught up on his "Get the idea". I am only being super critical for the fact that I started day dreaming on his fourth "get the idea". Then he struggles to say something else as if he's never worked on this issue before. It is suppose to keep the viewer engaged but at the same time it becomes a crutch for what could be a smoother and more confident transition in his tutorial. I don't know, maybe it hasn't affected his process which would be wonderful.

[yhk]

What if I am selling a phone for example its a new phone cheaper and do almost 70% job exactly like a big brand phone how can I explain the fourth option to my customer tht if you dont but it now then what will happen. And as you know cheapers phone get cheapers very fast. so what other cons I can tell them to buy my phone just right now.

[jeramyg]

Should you show the fourth option right away or wait and do it if they object?