Do you know the difference between a Small Sale and a Large Sale

  • An excellent book that I have had tucked away in my library for some time is called Spin Selling by Neil Rackman.

    I decided to drag it out again and go through the notes I had taken.

    Here are some tips that you find useful.

    In this book he maintains that there is a difference between a small sale and a large one and different philosophies are used for both.

    If you are able to know the difference between a large sale and a small sale you might just be able to save a lot of time when you go to prospect.

    I would like to teach you the difference in media sales and how it relates to your long term success.

    If you can grasp this idea I show you then you will able to avoid all those frustrating “no calls” you keep making and begin to focus on the calls that do matter.

    The general rule for small sales is the one from Neil’s book. He is sitting in an airport waiting for a connecting flight and  was browsing in a store and spotted one of those multipurpose knives, like the Swiss Army knife , the price $15. Within 2 seconds of seeing it he bought it and his immediate need was satisfied. To him it was what I call a no decision decision.

    Now what about a bigger sale? Let’s take another scenario, you are meeting your advertiser for the first time, potentially that client could invest with you several thousand dollars worth of advertising on your media company.  Are you going to get him or her to buy on the first call?

    The best way to approach the larger sale is to expect that it may take a little longer. These types of advertisers simply have different needs than smaller advertisers.

    Here a sure fire way to make sure that you do know the difference:

    1.)    A larger sales will contain more than one decision maker

    2.)    A larger sale involves asking more specific questions about their problems and moving them up to solutions.

    3.)    Larger clients tend to take a more rational approach to decision making than a smaller client.

    A simple check list that you can do on a regular basis and monitor what are your small sales and your larger sales. When you do this you can be confident that you avoid all those frustrating “no” calls and keep you focused on the calls that do matter.

    One action you can take straight away is write down all you larger clients based on spend and see if this does stack up against the criteria above. Try this as a New Year task.

    List all your larger clients in a notebook and begin to ask questions to discover their needs over time.

     

    Good selling.