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So, you want to land a $100,000 deal? That’s doable. But first, put yourself in the shoes of the executive making that decision.
“Executives responsible for making or recommending purchases of $100,000 or more undergo great stress,” says executive coach Tony Mulkern. “They feel uncertain of what choices to make, vulnerable to criticism from and unsure of how to influence peers or superiors, confused about the options, and perhaps resent the responsibility.”
A frequent featured speaker at leadership conferences, Mulkern specializes in the development and delivery of executive leadership development programs, especially in the financial services and technology sectors. He is founder of Mulkern Associates, a Los Angeles-based consulting services firm.
Typically, according to Mulkern, these decision makers are fearful of the personal and corporate consequences of a bad choice. “These are all the same states of mind and emotions that make an executive a good candidate for executive coaching, thus providing a great opportunity to a salesperson who can take this approach,” he adds.
The last thing the stressed executive welcomes is a manipulative, deceptive, and overly aggressive consultant or sales rep. Mulkern says they need someone to coach them through the decision-making process by asking questions that encourage reflection, prioritization, and problem-solving. This is the opposite of the manipulative sales tactics that aim to short-circuit rational decision-making.
Here are some suggestions from Mulkern for questions and responses to promote an open discussion and increase the likelihood of closing a deal:
1. “Set the tone by asking, ‘What is the situation you need help with that led you to see me today?’”
2. “Ask, ‘What would be the ideal outcome of this meeting for you?’”
3. “What would be the ideal outcome for the situation or challenge that you are considering resolving with a purchase?”
4. “What would it mean in terms of measurable results for your company if this problem were resolved?” (This is about revenue, profits, productivity, quality, market share, customer service levels, etc.)
5. “What would it mean for you?”
6. “Summarize what you have heard regarding the importance and significance of solving the problem. Ask, “What have I left out?’”
7. “Ask, ‘What else are you looking for from the provider of the product (or service) that you choose?’”
8. “How important is that to you and why?”
9. “If I can show you a solution that you find convincing, who else will we need to convince?”
10. “Who would be the easiest to convince?”
11. “Who would be the most difficult to convince?”
12. “What can we do to influence the most difficult persons?”
13. “What other possible negative reactions from others—inside or outside the company—concern you the most? How would you deal with them?”
14. “What else can I do to support you in this crucial decision?”
“One warning: Minimize questions about what the industry, company or division does,” advises Mulkern. “Do your homework ahead of time. The executive is not interested in providing free education to you.”
