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Become An Even Smarter Salesperson
Guest articles > Become An Even Smarter Salesperson
by: Daniel Milstein
Salespeople often stop learning once they reach a certain level. It may be unintentional, but they begin to neglect some of the 'study habits' that initially helped them succeed. As one top producer said, 'Once you think you know everything about the business, your production will suffer.' This is especially true in today's rapidly changing business environment. You have to continue your education so that you become known as the wisest expert in the market.
You must possess a thorough understanding of the industry's regulations, market demographics and economic trends. Understand the competition's products and programs better than anyone else. Be able to answer every possible objection customers can raise.
During the last few years, I've interviewed a number of unemployed loan originators, many of whom have not continued their education. They and many other salespeople have not kept up with their profession and they aren't the ideal job candidates in today's competitive marketplace.
Customers have become more demanding of salespeople. They expect that you will have answers to all of their questions. They are especially impressed when your wisdom helps them understand the 'bigger picture,' how your counsel will assist them in planning for the future. My own 'turning point' as a salesman occurred when I finally acquired a comprehensive knowledge of loan programs, industry guidelines, underwriting criteria and closing techniques that would enable me to effectively serve customers. In order to stay abreast of the many changes to lending and sales, I have since become a voracious reader of sales and management books, in addition to a variety of business magazines.
Of course, it's important that you make sure customers know that you are an expert in your field. There is a humorous story (original source unknown) that illustrates this point. A frustrated homeowner tried to fix a clogged drain but made an even bigger mess. He called a plumber who took a quick look under the sink and then tapped a pipe with his hammer. Of course, the drain cleared and the homeowner was excited that it was such a simple job. However, he was a bit surprised when the plumber said his fee was $80.50. He complained that the plumber's charge seemed excessive for such a quick fix and asked for an itemized bill. The plumber gladly obliged and on a piece of paper scribbled '$80.50--with fifty cents for the use of my special hammer and $80 for my expertise; knowing just where and how hard to hit the pipe.'
Sometimes customers need to be reminded that they do business with you because you have the knowledge to provide them with solutions. In order to deliver these solutions, you must never stop learning about your field and expanding your awareness.
Daniel Milstein is the bestselling author of ABC of Sales. For more information, visit: http://amzn.to/ABCARTICLES.
Contributor: Daniel Milstein
Published here on: 22-Jul-12