Obviously, the more you know your prospect, the easier it is for you to do the selling since you know his needs, wants, desires, and specially his personal preference. Secondly, once you know enough of the customers' attitude, you can make "custom" sales approach towards selling to a specific prospect.
In formal sales training this approach is called "getting-the-account-knowledge". From the word account knowledge, it means that it tackles on the number of information you as salesperson knows about your existing and future account.
There are many simple ways where we can actually gain a customer's account knowledge gradually. I stressed the word "gradually" since in selling, time is of the importance. In any sales situation there is always two parties involved, your side (the salesperson) and the prospect's side. So the faster you develop a very good relationship with your customer, the faster you gain account knowledge and trust. Simply put, "gradual" means as you build trust, you gain more account knowledge.
Now there are many types of account knowledge that you could gain from a customer but I summarize it in my own set of importance.
Here are the following:
1. Personal beliefs.
In all my life in the "sales world", I believe that this is the most important account knowledge that a salesperson should have. Knowing the prospect's personal beliefs not only helps you sell but also helps you avoid giving wrong impressions to you customer.
For example, I had a salesperson before who had mentioned something bad about the Muslim culture to one of his biggest customers. In just a few minutes that customer suddenly became antagonistic and did not want to talk to my salesman, and evidently canceled his coming orders.
When I went to that customer to personally check, I found out that the customers' parents were practicing Muslims and that she was hurt by the comment made by my salesperson. I had to make additional incentives and change the salesperson that was assigned to her, just to gain back her trust in our company.
Hence, it is very important to slowly find out a person's beliefs whether to close the sale or avoid conflict.
Examples of personal beliefs are religion, family culture, organizations, family background.
2. Personal/business goals and objectives.
Once you are able to pin-point a prospect, it is important that you also understand the goals and objectives of your prospect. Knowing the prospect's goals and objectives helps you evaluate whether your product/service will be beneficial for your prospect or not.
For example if you are selling a high end baking soda (with splendid quality of course), you have to ensure that you are selling to a prospect who has goals and objectives to maintain quality breads or cakes. Not only that, you also need to consider how it effects his bottom line income when he starts using your product, given the fact that he also wants to maintain a certain amount of income in his bakeshop or cake business.
3. Know your prospects frustrations.
Now I know this seems like related to personal beliefs but since I have started selling, this has allowed me to gather the number of people I can sell to by knowing their frustration.
We all have frustrations in our life. Like in our love life, our health life, the way we look (there's nothing much you can really do about that), our weight, and many more. Knowing the prospect's frustrations help you target the most important aspect in his life that he wants to change. With that, you will be able to make your selling efforts and even your sales presentation focused on solving his problem.
Now try this strategy on your daily selling and you'll be amazed at how effective this simple strategy is. It will enormously grow your closing percentage.
Next we will talk more on how to gather this account knowledge through a simple step by step process.
Hope you have learned something from today's sales mentor lesson.
Dedicated to your selling success,
Sales Mentor TM.
