Has this ever happened to you?…

You get a call from a prospect who asks you to submit a proposal.  You’re excited!  You get all your initial qualification questions answered and you are led to believe that you’re the only vendor asked to submit a proposal.  The prospect provides all the information requested as you accelerate through each phase in the sales process.  You’re feeling really good about your proposal submission and believe you are a shoe-in to get the business.  Commission check here you come!  Then one, two, maybe three weeks go by without a response from the prospect.  Next thing you know they’ve decide to stay with their current vendor or they go with another competitor you find out they were secretly talking with the entire time. 

Later, you finally get a chance to ask the prospect about why you weren’t selected and they rationalize their deceptive behavior based on the prudent business practice of seeking 3 bids to get the best deal.  You’re dumbfounded.  You can’t believe this has happened.

So, let’s turn this entire situation around now.  Let’s say the prospect finds out that your company was being deceptive with your pricing, delivery dates, solution, etc; the chances of your company being removed from the bid process are almost guaranteed.  From the prospect’s view, you exhibited a lack of integrity, character and trustworthiness. Do you think the prospect would consider your company for another opportunity?  Not a chance.  In the eyes of the prospect, the damage is done no matter what you say or do.  Not only have you lost time and money pursuing this opportunity, but more importantly, your company’s reputation is now at risk.  One of the realities of doing business these days is that sales professionals and the companies they represent are expected to uphold and exhibit a much higher standard of integrity and character.  The double standard:  clients can, you can’t.

How can you avoid falling into this trap again? 

First, stay true to doing business with only those companies that meet your Ideal Target Client Profile, which represents your most profitable clients, financially and relationally. Second, you must develop a trusting relationship with key personnel (influencer(s) and/or decision maker) within the prospective company.  Third, by methodically applying both key qualification criteria to every opportunity, you can avoid falling into this trap 99% of the time.

It’s time to stop asking your sales force, “What did you sell today?” and start asking them “Who did you sell to today?”  Today, the aged sales philosophy of any business is good business is a costly an unprofitable one.  As buyer sophistication continues to intensify, so should your client selection process.  As a business owner, one of the first qualification questions you should be asking your sales force when they present a new opportunity is “How well does the prospect match our Ideal Target Client Profile?”   In short, a company’s ideal target client profile identifies those prospects that value what you sell and are in need of what you sell.  Most importantly, they are your most profitable clients financially and relationally. 

Here’s a very simple process to help you and your sales force identify your company’s ideal target client profile:  Step 1 – List your current clients by gross revenue-- greatest to least; Step 2 – List your current clients by profitability-- greatest to least; Step 3 – List your clients by fit-- best fit to least fit; Step 4 – List only those clients that come up at the top of all three rankings; Step 5 – Now, examine these companies and identify additional characteristics and/or attributes these top clients also have in common with one another; Step 6 – From this new list, prioritize the additional characteristics/attributes--most to least important; Step 7 – Finally, take the top 25% from this list, identifying your most desirable ideal target client profile.

I find it is helpful sometimes to understand the definition of a word or phrase by what is doesn’t mean.  I’m sure that buyers have experienced some or all of the following situations or traits when the truth in selling is not practiced. 

First, it is does not involve deception which to mislead or misrepresent the truth verbally or written.   Buyers typically experience this when claims about a product or service seem too good to be true.  Second, it does not involve flattery which is to praise excessively out of self-interest typically lacking sincerity.  Third, it does not involve self-promotion or boasting which is doing and saying things to the benefit of self, versus the client or employer.  This is easily identified because the word “I” is prominent in their speech. 

Finally, it is not arrogance which an attitude of superiority in all that they do.  Today, buyers simply desire sales professionals who are willing to serve their needs.  

The words “truth” and “selling” may seem like a dichotomy these days, especially to buyers.   So, what is the truth in selling? 

First, it is exhibiting integrity which is always doing what you say you will do.  When I was growing up my Mom used to tell me “it is important to not only pay attention to what a person says, but more importantly, what they do.”  Second, it is being honorable, which is always respecting people regardless of the situation.  Third, it is having sound moral character which is always doing what is in the best interest of the client and employer, not self.   Finally, although some would like it to be, truth is not a word in which you decide to change the definition in order to conveniently suit your situation.  Truth is the truth.

Today, the truth in selling is found within a sales professional that exhibits integrity, is honorable and of sound moral character.  It is a sales professional that a company is proud to say represents them and an individual the buyer trusts and respects.

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