Most prospects are not a fit and don’t need what you provide. Here’s how to find that out fast.
The best advisors and practitioners are usually extraordinary teachers and Ian Altman fits that description. Altman is the author of “Upside Down Selling,” and has a great deal of experience in building and growing businesses, as an owner/executive and as a consultant to others. He serves organizations that sell professional services, business services or technology-related products and services.
Altman was in our offices last week to present an overview of his Upside Down Selling methods to our Vistage group and he left us with some great takeaways. As best we can, we should try to tie our marketing and methods back to these fundamentals:
- Rise above the noise. Frame your products and services in terms of the problems you solve. Try this exercise for your business: Finish this statement as your client would – “I’m sick and tired of ________.” You have a pretty good idea what you solve for so get it up front to test for fit.
- Know the competition. “What are a few things you might change about your current provider/product/service?” This is a powerful question that gets at shortcomings without asking directly about them. It also allows the answer of “nothing” which is a clear sign you are not a fit.
- Stop, swap and trade. If there seems to be a fit and yet you get stuck on price, Altman recommends stopping and clarifying the concern. Then work on swapping something other than price such as payment terms. If you must give something, then offer a price concession in exchange for agreement to participate in a case study or customer success story. (His words, not mine!)
Altman impressed upon us the the importance of being narrow in your target market and sticking to your knitting no matter what. It’s easy to get pulled out of your best markets, best pricing and best results. The key is to identify it and decide differently.
Turn your new client acquisition process upside down. Work backwards from problems, in order to move forward much faster.
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