What makes a good sales presentation? Many salespeople get the idea that if they are able to dump everything they know about the product onto the client they have made a good presentation. They try to entice clients with the product hoping they'll see their need as a result of the presentation. They feel that if they have good product knowledge, are able to keep control of the conversation, and give the client every possible bit of information they'll get the sale... right? Wrong.
We have often heard the statement "Products are just solutions to peoples' problems." Think about other products. When you go to the hardware store for a 3/8 inch drill bit you don't really want the drill bit you want the 3/8 inch holes! We don't want insurance, we want the peace of mind that comes from knowing the mortgage will be paid off should something happen to us.
How does this apply to our presentations? Well if the client hasn't acknowledged a problem or need, how are we going to show them that our product and its features meets those needs? If we are doing all the talking how are we going to know if they even care about saving for their kids education or retiring on time? Some suggest more product knowledge is the answer to low sales. While there is no substitute for product knowledge, it's not usually the fix for poor results. Product knowledge training without good selling skills usually results in people talking themselves out of the sale. They take a shotgun approach to the presentation hoping that something that they throw against the wall will stick. The problem is: if the feature doesn't matter to the client then they will not value it and therefore, will not pay for it.
The other equally effective way of talking your way past the sale is to load your presentation with a lot of jargon. We get very comfortable in the industry with "short-term, long-term", "GIC", "RESP" but the average non-financial buyer (most people) don't know what you are talking about. A flood of technical terms and jargon are like another language. Again, if they don't understand it, it can't have any value to them.
All of this points to the fact that our job is easier if we do a better job in the interview process. If you want to know what to focus your presentation on - ask them! "How are you feeling about your retirement plan? Are you on track to retire when you want?"
Focus on questions
In sales conversations the person asking the questions has the control. Why? The average person can speak at 125 -150 words per minute but can think at 500 - 600 words per minute. So while you are talking on and on they can listen and think of lots of other things: objections, criticism, doubts, fears, and difficulties. What happens when a sales professional asks a good open-ended question? It has an interesting psychological effect. It is not possible for the client to answer without diverting their whole attention to the question. Not only do we maintain the control and flow of the sales process by asking good questions, we actually learn all about the client's needs, wants, and motivations. Now we can present with a focus on them and how the product fits their needs specifically. That's way less words and gives you a better chance of being successful.
How does the client feel about being asked lots of good questions about their needs? It feels like it is all about them not all about you and that sure is easier to say yes to! So, spend more time in the interview asking better questions and less time talking about features of a product that don't add value or help the client make a smart decision. Your sales process will be less confrontational, have an easier flow to it, and produce better results.