In my continuing series on the Sandler Rules, let’s talk about Sandler rule number nine, “Every unsuccessful prospecting call earns compound interest.”
Similar to earning compound interest on your money, you can earn compound interest when you prospect. Consider the “interest” you earn in prospecting the lessons you learn from the mistakes you make. Learning from those mistakes results in you becoming a stronger salesperson.
Although you don’t always get an appointment, and with prospecting you won’t get one every time, that doesn’t mean you didn’t learn anything. Over time, you’ll learn how people respond to prospecting and work to address and problem solve your way through these tough conversations with people.
If you receive the same responses from everyone (“We’re covered”, “I can’t afford it”, “I don’t know if we should work together”), you can learn to work around them.
When I talk to someone, I have a few tactics.
• If they say “Why should we work together?” I say “Honestly, I don’t know. Maybe we shouldn’t. Would you like to take the time to talk about it?” For me, it helps to get the conversation started. It also differs from the traditional salesperson that will immediately launch into their sales pitch.
• If their answer is “We’re good”, I reply with “Which means?” They could be trying to get me off the phone, could be that they have someone who does that I do, or it could be that they never thought about being great instead of being good. It’s all about getting to their truth.
• If they ask, “How much will this cost?”, I ask them “Is money the only thing that you value? As opposed to valuing me or the solution?” Oftentimes money comes up too soon in the conversation. If I know how to talk to people about it, I can diffuse that situation.
My suggestion is to bring up these questions immediately. That way you distinguish yourself from other salespeople and demonstrate that you aren’t afraid to tackle their issues.
If you learn anything through this post, I hope it’s this: Learn something from every prospecting opportunity, whether it was successful or unsuccessful.
