Losing Deals? You Could Be Talking Too Much

"If your prospect is listening, they are no prospect at all.”? David Sandler

In sales, the gift of gab is often considered an asset. However, this perceived asset can quickly turn into a self-sabotaging liability when salespeople talk too much. Indeed, a counterintuitive truth is that the more a salesperson talks, the less likely they are to close the sale.

If this is you - and it could be true whether you're a natural extrovert or a nervous or uncomfortable introvert - consider this:? salespeople who dominate conversations overshadow their client's needs, concerns, and preferences. Indeed, the monologue approach leads to several issues:

Lack of Understanding:? by not asking good questions or listening to the answers, you miss crucial information about your clients' specific needs and pain points, making it difficult to tailor your proposals effectively.

Loss of Engagement:? your prospects may feel undervalued and unheard, leading to disengagement and disinterest in your product or service.

Damaged Relationships:? the foundation of sales is trust and rapport, which are hard to build when you don't give your prospect time and space to express themselves.

Do you ever catch yourself talking too much?

Several factors may contribute to your talking more than you should. Each stems from a desire to make the sale, but they inadvertently hinder sales success. Do you recognize any of these in yourself or someone on your team?

Enthusiasm for your Product or Service:? if you are passionate about about your offering you may become overly enthusiastic, leading you to dominate conversations.

Lack of Confidence and/or Preparation:? some salespeople overcompensate for a lack of confidence or preparation by providing too much information; not allowing your prospect to ask questions may be a defense mechanism.

Fear of Silence:? if you fill awkward pauses with words, you may be missing out on moments that are valuable for reflection or inviting your prospect to share their thoughts.

Perceived Pressure to Perform:? high expectations and pressure to meet quotas can lead salespeople to overcommunicate; a more aggressive approach will not lead to more and quicker sales.

Misunderstanding of Sales Dynamics:? some salespeople think that sales is solely about persuasion through information and enthusiasm; understanding customer needs and building relationships are equally, if not more, important.

Failure to Recognize Buying Signals:? if you are too focused on your pitch you may miss cues from your prospects indicating their readiness to buy or interest in specific aspects of your offering; by not tuning into these signals and continuing to talk you may overwhelm, or worse, bore your prospect.

To counteract these tendencies, I teach clients to set the stage for conversations (dialogues) rather than presentations (monologues), ask open-ended questions, and actively listen. Recognizing the value in what your prospect has to say not only builds rapport but also provides critical insights that will guide you in tailoring your proposal to meet their needs.

As David Sandler used to say:

"Your value as a sales professional is determined more by the information you gather than by the amount of information you dispense.”

Embracing the Power of Listening

To avoid the pitfalls of talking too much and overselling, cultivate the art of listening. Here are some tips to ensure you're engaging in effective communication:

1. Follow the 70/30 Rule:? aim to listen 70% of the time and talk only 30%; this balance ensures that your prospects feel heard and valued, increasing the likelihood of a successful sale.
2. Ask Open-Ended Questions:? encourage your prospects to share more about their needs and challenges; questions that begin with "What," "How," or "Why" will elicit more detailed responses, giving you valuable insights to tailor your proposal.
3. Practice Active Listening: ?show your prospects that you're engaged and interested in what they have to say; summarize their points to confirm your understanding and respond empathetically and thoughtfully to their concerns.
4. Reverse Before Responding: resist the urge to answer questions immediately; make sure you understand the intent behind your prospects' questions before you respond.For example, how would you respond to this question: “Do you work with any other companies in my industry?”You might be tempted to reply, “Yes we do!” and go on to list several companies with which you work. After all, this response will build your credibility, right?Unfortunately, there’s a 50:50 chance that your assumption is wrong. Indeed, your prospect may reply, ”That’s too bad. I’m looking to create competitive advantage through my supply chain and I can’t do that if you work for me and for my competitors.” Or they could say, “That’s too bad. I’m concerned that if vendors work for both me and my competitors, my confidential information may somehow leak to them.”On the other hand, if you replied, “No we don’t” your prospect may say, “That’s too bad. We’re hoping to work with a partner who already understands the complexities of our industry so they can ramp quickly and we can benefit from their knowledge and experience.”Reversing, or answering a question with a question, enables you to understand the intent behind the question before you respond. Which in turn enables you to respond to your prospect’s real question or concern. For example, a reverse to the above question might be, “Many prospects ask about our experience in their industry, can I ask why it’s important to you?” Or, when talking about pricing your prospect may say, “Your price is too high, can you give me a discount?” Which you could reverse with, “When you say our price is “too high,” can you tell me what “too high” means in your world?”
5. Tailor Your Pitch: use the information you glean from listening to address your prospects' specific needs and concerns directly; a customized proposal is far more compelling than a generic sales spiel.
6. Monitor Your Conversational Balance: be mindful of how much you're talking versus listening; if you find yourself dominating the conversation, it's time to ask another question and shift the focus back to your prospect.

Incorporating these practices into your sales approach will help you avoid the common trap of talking too much. Sales success is less about your ability to convince your prospects to buy than about building relationships, understanding needs, and offering solutions that resolve their pain. By listening more and talking less, you’ll be able to describe how well your solution aligns with your prospects' needs, paving the way to close more sales and close more easily.