Silence is Sometimes Golden
Problem: You spent the better part of a day putting together a proposal and preparing for a big presentation. You’re ready for your scheduled meeting and finally get your chance. Everything goes great and you are at that point waiting for the buyer to say, “Yes.” The prospect warmly smiles and says, “That was one of the best presentations that I’ve had. Your product really solves our problem nicely…” You want to relax but anticipate one last objection. The prospect continues with the warm smile and states, “But your prices are more than we had anticipated spending.” You are ready and say “I really want to get your business so I will take off 10% if we can complete it today.” “Thanks, I appreciate that,” your prospect responds as he signs the PO.
Analysis: Prospects know how to manipulate salespeople. Was the prospect’s statement about your pricing intended to manipulate you into reducing your price or was it just an innocent comment? Based on how this sales call ended we can only speculate.
It is astounding how often a salesperson will automatically assume that statements are objections. You don’t have to answer statements! One of the basic tactics taught in just about every negotiating seminar is “the flinch.” For example: seller states the price, buyer reacts physically with a shrug or grimace and makes a statement (“Wow, that’s kind of high.”) It works like magic on salespeople.
If you want to see how easy it is to manipulate a salesperson, go to any car dealership, get a price on a car and state “Wow, that’s high!” Assuming you stare and say nothing after that initial statement, 90% of salespeople will start to say that, of course, there is some room for negotiation.
Solution: When a prospect makes a statement that sounds like an objection, simply ask, “What does that mean?” and then wait silently and look puzzled. Don’t cave in and don’t get defensive. Let the prospect make the next move. It might surprise you. If you want to know why a statement was made, you have to ask the prospect a question. Don’t assume you know the answer.
