If you want to master selling in business it’s important to know the M.T.N.U.T. rule.
The acronym MTNUT stands for Money, Time, Need, Urgency and Trust. The essence of this rule describes the five most common sales objections that you’ll face in business. Here’s a look at each one in context:
1. Money (M)
A basic sales objection all businesses is face: “We don’t have the money for this service.” Often times, the buyer does have the money, but they aren’t convinced they should spend it with you.
If a prospect starts with this objection then listen to their “why” and help guide them through the process of how your products or services can save money. The key is to not just declare it, but to explain it.
“Most salespeople agree that overcoming price objections is a matter of conveying value. If a prospect is balking at the cost, it’s likely because the rep didn’t adequately sell the benefit of their product or service. Many sales experts recommend backing up, dropping the price issue temporarily, and revisiting the value conversation.”
2. Time (T)
Have you ever heard a prospect say: “I don’t have time to setup services with your company right now?” This is an important objection and generally relates to a customers’ desire to have turn-key transitions from one provider to the next, with as little heavy lifting as possible. If you are sell web hosting services, for example, offer free or discounted migration services to eliminate the time objection.
3. No need (N)
When a prospect says they don’t need your product or services this is where most salespeople back off. But what if that prospect simply doesn’t know that they need your service? It’s your job to actually show them why.
4. Urgency (U)
Create urgency for your client is a primary key to selling. “Creating a sense of urgency without being pushy is a learned skill based on conducting good discovery, understanding the needs of the prospect, and asking the right questions of the right people in the sales process.”
If a prospect says, “Well, we don’t need this now, but maybe later,” this is where creating urgency is a successful approach. When a prospect feels that it’s not a good time to buy this means they don’t feel a sense of urgency or haven’t seen enough value in your offering to make the purchase.
5. Trust (T)
“Organizations with great customer relationships are able to grow their businesses without gimmicks, fee cuts or special treatment. You have to be good at what you do, of course, but having a truly successful business is based on one simple concept: trust.”
If your prospect has no trust in you then you won’t be able to sell anything. Always make sure that you understand their needs and offer credible solutions. You can’t promise the world if you can’t actually make it a reality.
This article has been edited.
Ralph A. Karseboom assists businesses with their IT infrastructure and planning, along with personal quality advice, hosting services, marketing strategies, social media analysis
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