At the latest HealthTO meetup, Optimity CEO Jane Wang shared tips and tricks for closing the toughest sales deals, even when your customer says “no.”
Wang started her talk by sharing background on Optimity, which provides a digital platform for employee health and wellness. It uses customizable mobile apps and wearables to aggregate data, and retargets high-risk segments to reduce employee risks for heart disease, diabetes, and depression.
“It’s not about being flashy or pressuring someone into it. It’s really kind of a two-way dialogue.”
Drawing on hypothetical examples of sales meetings, Wang explained how salespeople tend to go overboard when convincing others to buy their “beautiful product” which may lead to a “no.” But according to Wang, it’s not about pressuring the customer; it’s about showing them why they need your product.
“It’s not about being flashy or pressuring someone into it,” said Wang. “It’s really kind of a two-way dialogue. As part of that dialogue, you really have to learn how to navigate. You need to talk about urgency…why do they need that [product]. Every day that they don’t have your product, they’re losing money.”
Wang also stressed the importance of using different techniques to handle objections from customers. One framework Wang uses is Listen, Acknowledge, Explore, and Respond (LAER), which she says helps her find other ways to convince customers. For example, if your customer wants a specific feature but you don’t have it, ask them what functionality they are looking for and respond by suggesting a different feature of your product or service that might offer a similar function or something better.
“It’s quite simple, but a lot of times when you listen to something, what a lot of entrepreneurs tend to do is they are action-focused; they just respond. You’re supposed to actually go through a process,” said Wang.
Overall, Wang suggests handling objections well, establishing good relationships with clients, and to”demonstrate how much you know about your business” and “that you have value.”
Watch the full presentation below:
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