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“Business volume to our new targeted market increased by 300% in just 3 MONTHS! ”

~ Dave Brandt, Divisional Vice President, GE Financial Advisors, Genworth

Archive for March, 2009

The “Ben Franklin Method” For Winning People Over

Monday, March 9th, 2009

So often in these articles we talk about giving before receiving, and that is certainly a very important aspect of helping a person to feel comfortable with you, and want to do for you. Whether in social relationships or sales, being the first to reach out is an extremely effective human relations strategy, as well as just a generally nice way to be.

But, there’s also a “reversal” to this. We learn from one of America’s more well-known founders, Benjamin Franklin, how taking the opposite approach can have excellent results as well.

In his book, Autobiography of Benjamin Franklin and Other Writings, the inventor, statesman, and diplomat tells of an incident with a man who opposed his being re-chosen as Clerk of the General Assembly of the Pennsylvania House.

Although he did manage to keep the office, Ben knew that this person, whom he described as “a gentleman of fortune and education with talents that were likely to give him, in time, great influence in the House,” could be trouble later on. He aimed to insure that didn’t happen by “making, of an enemy, a friend.”

Let’s let Ben tell us how he did it:

“I did not, however, aim at gaining his favour by paying any servile respect to him, but after some time took this other method. Having heard that he had in his library a certain very scarce and curious book, I wrote a note to him expressing my desire of perusing that book and requesting he would do me the favour of lending it to me for a few days.

“He sent it immediately – and I returned it in about a week with another note expressing strongly my sense of the favour. When we next met in the House, he spoke to me (which he had never done before), and with great civility. And he ever afterward manifested a readiness to serve me on all occasions, so that we became great friends, and our friendship continued to his death.

”This is another instance of the truth of an old maxim I had learned, which says, ‘He that has once done you a kindness will be more ready to do you another than he whom you yourself have obliged.’ And it shows how much more profitable it is prudently to remove, than to resent, return, and continue inimical proceedings.”

Understand that both ways work (giving first and receiving first); it’s just a matter of judging the method that will work best depending upon both the situation and the other person involved.

Either way, what Ben said in his final sentence makes a whole lot of sense. To paraphrase: “We’re better off making a friend than keeping an enemy.”

“Your Price Is Too High.”

Friday, March 6th, 2009

“Your price is too high” are five words that seem to strike terror in the hearts of so many salespeople. But it really need not. In this article, we’ll look at some sage words from 19th century English philosopher John Ruskin that will help overcome this objection.

I’m often asked, “What would you suggest is a good response for when a prospect says, “Your price is too high?”

Actually, depending upon your product or service, there are many good responses. Perhaps, the number one way to overcome this situation is by building the value of your product so high that price never becomes an issue in the first place. Still, it’s a fact of life and an objection that, at one time or another, every star salesperson must learn to overcome.

Here’s a neat little explanation.

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“A Thought on Price”
by John Ruskin, English Philosopher, 1819-1900

“It is unwise to pay too much, but it’s also unwise to pay too little. When you pay too much, all you lose is a little money. But when you pay too little, you stand a chance of losing everything, because the thing you bought is incapable of doing what you bought it to do. The common law of business balance prohibits paying a little and getting a lot – it just cannot be done. So, when you deal with the lowest bidder, it is wise to put a little something aside to take care of the risk you run. And, if you do that, you can afford something better.”

—–

Now, a couple of suggestions; First is to either memorize that saying, or even copy it onto a notecard so you can read it whenever necessary.

Secondly, instead of answering your prospect directly (which could come off as though you’re talking down to him or her) use the “third-party” approach. This is where you make “yourself” the target of the correction, instead of your prospect. In other words, “you” were taught something; you’re not teaching your prospect anything.

For example (after they tell you your price is too high), “I truly relate to what you’re saying. I felt exactly as you feel about price. Recently though, I read something that really answered my question (by saying “my question” you’re putting the onus on yourself; A very appropriate “I Message”). It went like this . . .” Now recite or read the saying you just learned.

This is a very effective way of getting your point across, teaching your prospect a valuable lesson, and making yourself, instead of your prospect, the target of the lesson. This way, you save their ego, answer their objection and make the sale.

Of course, the above saying of Mr. Ruskin’s will only work if you’ve been able to prove to your prospect that the value of your product does equal or – even better, exceeds – the price you are asking. In other words, make sure the issue is actually the price and not the value as compared to the price.