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Useful Advices - Why Traditional Sales Processes Reduce Sales Results
Why salespeople lie to their clients
Ask most people to describe a salesperson, and likely as not, you'll find yourself deluged by words like "huckster," "snake oil peddler," "fast talker," "con artist" and, of course, "untrustworthy," "arrogant" and "dishonest." You’re right – it’s not fair, it’s just the way it is.
Funny thing is I hardly ever meet a sales professional who hasn’t at least once used a t
Ask most people to describe a salesperson, and likely as not, you'll find yourself deluged by words like "huckster," "snake oil peddler," "fast talker," "con artist" and, of course, "untrustworthy," "arrogant" and "dishonest." You’re right – it’s not fair, it’s just the way it is.
Funny thing is I hardly ever meet a sales professional who hasn’t at least once used a t
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
erm like those above to describe another sales professional they had a bad experience with! Sometimes, we even dislike our own kind…..
We wonder exactly what we ever did to earn such an enviable reputation. Unfortunately, the fact of the matter is, those of us who sell for a living do so in an environment created by a few highly visible unscrupulous salespeople, who are more interested in making a short-t
We wonder exactly what we ever did to earn such an enviable reputation. Unfortunately, the fact of the matter is, those of us who sell for a living do so in an environment created by a few highly visible unscrupulous salespeople, who are more interested in making a short-t
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
rm buck than they are in creating long-term profitable relationships with their clients.
Even the most well meaning salespeople lie on occasion, and when they're caught (as they almost invariably are), this only serves to further poison their relationships with their customers – and the selling environment for all of us.
In general, there are three key reasons why salespeople are dishonest with their cli
Even the most well meaning salespeople lie on occasion, and when they're caught (as they almost invariably are), this only serves to further poison their relationships with their customers – and the selling environment for all of us.
In general, there are three key reasons why salespeople are dishonest with their cli
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
nts:
They don’t know their product. Some salespeople lie by accident because they're unsure or uninformed about the products they're selling. In many cases, they lie simply because they're too embarrassed to say, “I don’t know.”
They're too empathetic. Some salespeople lie because they're insecure about themselves, or their relationship with their prospect. The driving factor for these salespeople is: “I
They don’t know their product. Some salespeople lie by accident because they're unsure or uninformed about the products they're selling. In many cases, they lie simply because they're too embarrassed to say, “I don’t know.”
They're too empathetic. Some salespeople lie because they're insecure about themselves, or their relationship with their prospect. The driving factor for these salespeople is: “I
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
just want the customer to like me!” so they stretch the truth to tell the customer what they think they want to hear. Lying then becomes an inappropriate vehicle to build a friend first, and a customer second.
They're only focused on the money. Some salespeople see lying as an easy way to make a quick buck. Salespeople who lie for this reason do it because they want the prospect to move too quickly, so t
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
at they can make a quick sale, pocket the commission – and move on to the next prospect.
Unfortunately, the vast majority of prospects have encountered these lies and these situations before. As a result, they're conditioned to expect a certain experience from the sales process. They assume they know how a salesperson will act, and they base their responses on that assumption.
In many cases, prospects be
Unfortunately, the vast majority of prospects have encountered these lies and these situations before. As a result, they're conditioned to expect a certain experience from the sales process. They assume they know how a salesperson will act, and they base their responses on that assumption.
In many cases, prospects be
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
come so good at predicting sales behaviors that they become experts at manipulating the sales process to get exactly what they want, often at the expense of the salesperson.
Why clients lie to salespeople
Of course, when it comes to sales, truth telling (or the lack thereof) works both ways. Why do so many prospects have so much trouble telling the truth when dealing with salespeople?
One of the most co
Why clients lie to salespeople
Of course, when it comes to sales, truth telling (or the lack thereof) works both ways. Why do so many prospects have so much trouble telling the truth when dealing with salespeople?
One of the most co
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
mon reasons is that they have been lied to by a salesperson in the past, and are only trying to "give back" a little of what they have "gotten". They’ll lie to avoid an annoying sales pitch. They’ll lie to protect themselves against overly persistent phone calls and email follow-ups, or to avoid being pressured into making a decision. They’ll lie to protect their reputations, their budgets, their time and
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
heir jobs.
Most of all, they’ll lie because they automatically assume all salespeople are liars, and they want to make a pre-emptive strike before they are lied to.
Think about how salespeople are commonly portrayed in popular culture. Movies such as Tin Men, Planes, Trains and Automobiles, Tommy Boy and Glengarry Glen Ross don’t exactly paint a flattering portrait of our profession. The result is that w
Most of all, they’ll lie because they automatically assume all salespeople are liars, and they want to make a pre-emptive strike before they are lied to.
Think about how salespeople are commonly portrayed in popular culture. Movies such as Tin Men, Planes, Trains and Automobiles, Tommy Boy and Glengarry Glen Ross don’t exactly paint a flattering portrait of our profession. The result is that w
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
who do want to excel legitimately at our chosen profession have a pretty swift current to row against.
But while it may be difficult, it’s not an impossible challenge. Gaining the trust of your customers and potential clients just takes a little extra effort and forethought – as well as complete dedication to honesty in how you conduct your business.
The secret to sales success
Successful salespeople a
But while it may be difficult, it’s not an impossible challenge. Gaining the trust of your customers and potential clients just takes a little extra effort and forethought – as well as complete dedication to honesty in how you conduct your business.
The secret to sales success
Successful salespeople a
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
l use a range of different styles and techniques, but they also all share one key thing in common: they know that honest communication is the single most important secret to increasing sales, and commissions.
By focusing their efforts on creating a positive customer experience based on openness and trust, these top performers can almost always rely on an extraordinary level of repeat sales. Nine times out
By focusing their efforts on creating a positive customer experience based on openness and trust, these top performers can almost always rely on an extraordinary level of repeat sales. Nine times out
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
of ten, their customers would simply never even think of looking elsewhere when they need to reorder. As we all know, it's far easier – and far more profitable – to keep repeat business, than it is to land a whole new account.
So what's the "secret" to establishing and maintaining credibility in the eyes of your clients?
Don’t lie. Ever. End of story.
Lies not only damage the ability of salespeople to
So what's the "secret" to establishing and maintaining credibility in the eyes of your clients?
Don’t lie. Ever. End of story.
Lies not only damage the ability of salespeople to
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ommunicate with their clients. They can also result in a complete communication breakdown that is difficult – or even impossible – to repair.
Consider what the consequences of this kind of breakdown in communication and trust can be. According to Fred Reichheld, author of Loyalty Rules, North American companies lose roughly half of their customers every five years, half of their employees every four years
Consider what the consequences of this kind of breakdown in communication and trust can be. According to Fred Reichheld, author of Loyalty Rules, North American companies lose roughly half of their customers every five years, half of their employees every four years
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
and half of their investors in less than one year. These numbers represent corporate losses that are nothing short of staggering. Why does this happen year after year?
In my view, most of these losses are caused by communication breakdowns in three primary areas:
During the sales cycle with potential new prospects; Following unsatisfactory after-sales service (or add-on sales) between salespeople and
In my view, most of these losses are caused by communication breakdowns in three primary areas:
During the sales cycle with potential new prospects; Following unsatisfactory after-sales service (or add-on sales) between salespeople and
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
lients; and
Among co-workers in unpleasant or stressful work environments.
In addition to the lost sales and revenues that these breakdowns represent, there are also numerous hidden costs to consider. Losing customers to misunderstandings or a lack of trust can dramatically reduce your satisfaction in your work, as well as the satisfaction that your clients have about you and your company’s services or
In addition to the lost sales and revenues that these breakdowns represent, there are also numerous hidden costs to consider. Losing customers to misunderstandings or a lack of trust can dramatically reduce your satisfaction in your work, as well as the satisfaction that your clients have about you and your company’s services or
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
roducts.
Worse yet, it can ruin your reputation – and your ability to earn future business.
If business is still growing, why should we care?
In research conducted by Engage Selling, Harvard Business review and the Sales Executive Council over the past 15 years, we've found that only 10% of salespeople in any organization are what we might call "top performers" – those who regularly close at least half
Worse yet, it can ruin your reputation – and your ability to earn future business.
If business is still growing, why should we care?
In research conducted by Engage Selling, Harvard Business review and the Sales Executive Council over the past 15 years, we've found that only 10% of salespeople in any organization are what we might call "top performers" – those who regularly close at least half
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
of their qualified prospects. At the other end of the spectrum is another 20% comprised of under performers, as well as those who are new, and those who are on their way out.
The remaining 70% of salespeople fall into a broad category that is best described as the "average majority". To be fair, being an average performer isn’t a terrible thing to be – these sales reps will close about one out of every th
The remaining 70% of salespeople fall into a broad category that is best described as the "average majority". To be fair, being an average performer isn’t a terrible thing to be – these sales reps will close about one out of every th
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ee qualified prospects. But few sales professionals would ever choose to be considered average, especially when the tools to become a top performer are easily within their grasp.
Just consider the missed opportunities! While they regularly hit their average targets, these salespeople are missing out on over two-thirds of the sales they could potentially close. This means that, for every $300k in potential
Just consider the missed opportunities! While they regularly hit their average targets, these salespeople are missing out on over two-thirds of the sales they could potentially close. This means that, for every $300k in potential
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
sales in your pipeline, you're leaving a whopping $200k on the table - or to the competition.
No one likes to feel like they’ve missed an opportunity. And – let’s face it – now more than ever, no one can afford to lose sales. So what does it take to go from being simply average to becoming a top-ranked sales professional?
Join us next newsletter as we reveal some of the most common lies and dishonest sta
No one likes to feel like they’ve missed an opportunity. And – let’s face it – now more than ever, no one can afford to lose sales. So what does it take to go from being simply average to becoming a top-ranked sales professional?
Join us next newsletter as we reveal some of the most common lies and dishonest sta
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
ements sales people make - and what to do instead. As well as some proven results and innovative ideas to ensure you have the best 2007 ever!!
© 2006 Engage Selling Solutions. All rights reserved: All trademarks used or referred to on this site are the property of their respective owners. No materials on this site may be reproduced, altered, or further distributed without Engage's prior written permission
© 2006 Engage Selling Solutions. All rights reserved: All trademarks used or referred to on this site are the property of their respective owners. No materials on this site may be reproduced, altered, or further distributed without Engage's prior written permission
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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