Why you don’t have more clients
Infinia ·
The 5 Core Questions
When talking with Fractional CXOs, I noticed that most immediately go into a monologue about their experience, credentials, and who they worked with in the past.
While impressive, this will not secure a new client. The prospective customer only cares that you can solve their most pressing problem. Therefore, focus instead on 5 core questions:
- Why did you want to meet today?
- How long has this problem been going on?
- How have you already tried to solve it in the past?
- Why do you think that did not work?
- What happens if you do nothing?
Not always in those exact words, but as a framework for every sales meeting. You want to know why they took the call, how long they have been living with the issue, what they tried in the past to solve it, and why they believe that did not work.
Use Your Experience Only When It Applies
These questions give natural points where your credentials, experience, and expertise can be showcased.
For example:
“We wanted to meet today because after scaling to 100,000 customers, we have no cash flow.”
You explain:
“That is a problem that I solved for XYZ company, ABC company, and TLC company. Tell me, when did you first notice the issue?”
Explain only the parts of your experience and credentials that apply to the problem they are facing. Nothing else. Everything must be focused on their problem.
Do Not Introduce New Problems
If you notice a problem bigger than the one they are talking about, do not bring it up. The prospect is looking for pain relief, not something else to stress about.
Once they engage your services. After you solve their first issue. Then bring up the next thing that needs attention. Never on the sales call.
Let the Prospective Customer Talk
What you want is for the prospective customer to talk the most. You want them to discuss their problem and feel the stress, pain, and uncertainty from that conversation. It is important to keep the pain going.
In the middle of the discussion, say something like:
“We may be able to help.”
Never say:
“We can definitely help.”
The reason is to remove sales pressure. Once you say “We can help,” or something similar, it begins to look like a sales pitch.
If the prospective client feels a sales pitch, their guard goes up and they stop having a conversation. You realize it has happened when their answers become short or their body language becomes guarded.
When this happens, interject with:
“I don’t know if we can help, may I ask you a question?”
Once you get permission to continue, ask the next question on your list.
Transition to the Solution
Only after they have discussed the issue and look upset by the mere though of it, do you conclude with:
“I think we can help. This is similar to an issue that XYZ company had. We solved that by...”
Then ask:
“Do you think that would work for you?”
Wait on their answer. Do not break the silence. Sometimes, this requires a few minutes for them to fully consider the question.
A positive response is something like:
“That sounds like it could work. How much does it cost?”
What you want is for the prospect to ask you about pricing. If they never ask about the cost, then they are not really considering your service.
Explain the Next Step
Now is the time to explain how the onboarding process works.
You could ask:
“How soon do you need to solve this problem?”
Then explain the next step.
For example:
“In order to start next week, I will need to send you an invoice today. Once paid, we will need access to your...”
Then conclude with something like:
“Are you ready for me to send the invoice and finally get this thing solved?”
The point is to confirm they are ready to buy now. Do not assume the sale. If they need time to “think about it,” you can offer to send them an email with a summary of everything.
Handling “I Need to Think About It”
There are several techniques to combat that objection.
One of the most effective is to say:
“I completely understand. May I ask you a question?”
After they give permission, ask:
“Is this problem really as big as you say it is? The reason I am asking is that most people in your shoes want to solve it quickly. Is it the funding or is it a lack of faith in my ability that is keeping you from moving forward?”
They will most likely respond with something like:
“It’s not you. We are just really scared to spend money right now.”
You can then say:
“I completely understand. If I was experiencing an issue like that, I would be afraid to spend right now too. However, the only way forward is to fix the issue. The sooner it is corrected, the faster your company can get our of this predicament. May I make a suggestion?”
Now wait.
Many times, the prospect will just say:
“Let’s do it. I am ready.”
However, if they do not, you can say:
“ABC client had the same anxiety with a very similar issue. They were afraid to move forward. However, once they did, it changed their business. Today they are...”
Then conclude by asking:
“Do you want me to send that invoice so we can get this solved?”