Did you like my Wisdom? If so, please share it with someone who is looking for a simple technique that can help when closing sales. – Matt
Once upon a time, waaaaay back in my early banking days, I was struggling to close a deal. It was an intensely competitive situation, with 3 or 4 other financial institutions all making a major play to land one of the most prominent up-and-coming businesses in town.
I felt like I had done everything right along the way.
Develop a fantastic relationship with the owner which transcended the business at hand…check.
Demonstrate the clear value I and my institution provide, and more importantly, confirm he understood and believed in my value as well…check.
Use my team’s combined expertise to build a competitive proposal not based on undercutting price (in direct contrast to our competitors who only talked about pricing and fees), but structuring the loan for his business expansion in a way that gave him real flexibility to continue driving toward other goals he had shared which were equally as important to him…check.
Like I said, I thought my team and I had set ourselves up for a big win. The irony is, we did win. The prospect chose us, despite not having the lowest rate or fewest fees, but I had to learn an important lesson first to get him in the door.
Closing sales is more than just asking then holding on for an answer…
See what I mean in this week’s edition of Windshield Wisdom.
Matt Middendorp is a nationally acclaimed speaker and banking sales coach with over 20 years of experience turning connections into customers and advocates. In 2013, Matt founded Sales Math, and debuted his “Formula for Success” sales training system to banks and credit unions across the country. From the beginning, Matt’s clients have experienced learning that is fun, meaningful, and makes a difference in the real world. Today, Matt’s core philosophies of “Learn Together, Do Together, Grow Together” are taught through in-person coaching, the Grow Together Sales Mastermind, and by his leadership of the Cool Bankers Club Facebook Group. His clients are making millions based on the confidence and skills gained from learning a sales process tailored to their individual personalities and businesses. Learn more by directly contacting Matt at (715) 897-0879 or [email protected]
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