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Is your Sales technique like a cup of tea?

It should be!

That’s sounds strange doesn’t it? Let me explain by telling you a short story.

Jeff was visiting his grandmother’s house one day and she asked him to make her a cup of tea. Jeff happily agreed and set about making his dear old grandmother the cup of tea she asked for. He proudly brought it to her and watched dutifully as she took her first sip, which she promptly did.

The grandmother instantly spat it out  after pulling a horrible face. Jeff looked on embarrassed as he asked her “why did you do that gran?” His grandmother said “Jeff that is the most horrible cup of tea I have ever tasted! How did you make it? Jeff replied, well I boiled the water, put the tea bag into the cup, put the sugar in and poured in the hot water and added a touch of milk..

Of no said the grandmother...that is all wrong Jeff. You have to boil the water, wait for 3 mins then pour it into the teacup. Then you get the tea bag and add it slowly, jiggling it up and down for 5-6 times. Then press the spoon against the bag to get the last tea flavour out. Once you have done that, you add the sugar, one teaspoon at a time, stirring after each one. Then you add the milk, a little at first and stir until the tea has a nice brown look. That is how you make a cup of tea Jeff.

What does this have to do with selling a home loan you may ask? Well let’s look at the key aspects.

1.       Jeff assumed he knew how to make a cup of tea and how his grandmother liked it.

2.       He didn’t ask her if there was anything special that needed to be taken into consideration.

3.       He treated her cup of tea just like anyone else.

4.       It was a simple process or so he thought but it ended up being quite complicated.

5.       He got the order of the steps all wrong in making the tea.

6.       It didn’t taste right for his grandmother.

7.       She rejected the tea because she spat it out.

So often in home loan lending the same assumptions get made. We often get the order of the sale or wrong and mixed up so the end solution just doesn’t taste right to the customer and they will too spit out your offer as a rejection. Too often we don’t effectively check the needs of the customer based on their own set of experiences .

Recent research across over 2,500 sales managers around the world cited that in over 83% of the time with their sales staff, the proper sales process was not used EVEN though they had conducted training and one existed. This resulted in many sales being lost as the experience was less than what the customers expected. The primary reason why the sales people didn’t use the process was because they believed there sales process was ok and they were pretty good at selling or at least they thought so. Interestingly enough, over 90% of those sales people did not have any way of getting feedback from those clients as to how they really did feel about the interaction.

The importance of using a well defined sales process, properly tailored to the home loan market is critical to your success. If you want to find out more about what you should be doing contact us now.

 

David Hayward

David is one of the industry’s foremost trainers in sales, business development, cross –selling and sales management having trained personally over 1500  mortgage lenders  in some of the biggest financial institutons in Australia.

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