Increasing Sales With A Credibility Statement

Chain LinksSome call it the elevator pitch.  Some call it the personal introduction.  At Silver Bullet Selling we call it the Credibility Statement.  No matter what you call it, when it’s done well it establishes credibility and opens doors and opportunities.

In business the Credibility Statement is as essential as a business card.  You need to be able to say who you are, what you do and how people benefit from what you do in as little as 90 seconds.  As we discussed in a previous article, the Agenda Statement is a great way to begin a meeting with a prospect or client.  This 45-second piece of magic lets your prospect/client know the purpose of the meeting and what you’re going to cover.  When you follow your Agenda Statement with a concise and crisp Credibility Statement, it’s like delivering a 1-2 punch to the way your prospect/client perceives you.  Remember that people do business with people they like and trust, and how you are perceived often determines whether you’ll get the deal or not.

The Credibility Statement can help you lower buying resistance and communicate that you are a competent and successful professional.

  • Positive Effects of a Credibility Statement:
  • It will position you as a unique and highly competent expert
  • It will communicate how clients benefit from your product or service
  • It will convey your value
  • It will let the prospect know you  have worked with businesses like theirs before

There are four parts to the Credibility Statement:

  1. My Company and Me
  2. Typical Client
  3. Success Story
  4. Transition to Discovery
  5. My Company and Me.

My Company and Me

Open the Credibility Statement with a feature-filled introduction of your company and yourself.  When I say “feature-filled” I mean a paragraph with 7-8 sentences that speak to:

  • Your company’s history
  • Your company’s niche or area of specialization
  • 2 or 3 features about your company
  • Your relevant experience

Here’s an example introduction from the financial services world:
Mike I am not sure how much you may know about Cedar National Bank.  Actually CNB was founded by a small group of entrepreneurs in 1954 and has grown into a premier private and business bank.  We are now the second largest independent bank based in the state with assets exceeding $16 billion and we are the only bank in the eastern United States that has been recognized by the Greenwich Associates with six awards for Excellence in Business Banking.  We have over 65 branches in the tri-state area.

I’ve been in banking for 20 years, and I have spent the last 7 of those years with Cedar National Bank working with food manufacturing companies in the Hudson Valley.

Typical Client

You want to follow up your introduction with a description of your typical client.  Your description should resemble the prospect or client you are speaking to.  Doing so will build credibility because it will give your client/prospect confidence that you have worked with clients like him before.

Example typical client: I typically work with large agribusiness companies who want to execute a long-term growth strategy.  And I usually bank the company itself and then the key executive officers too.

Success Story

During your Credibility Statement you want to share a success story that illustrates how one of your clients recently benefited from working with you.  There are three parts to telling a compelling success story:

Issue: Describe the issue in a couple of sentences.
Resolution: Explain how you helped your client resolve the issue.
Benefit: Explain briefly how your client benefited from the resolution.

Example Success Story:
For example, recently we were able to provide a $5.5 million business loan to a frozen foods company so they could modernize their flash freezing equipment and add on 10,000 square feet to their production facility.  Of course, we also welcomed the opportunity to work with the business owner on reaching personal financial goals as well, and we were able to provide a creative financial solution to help him finance a vacation home in Lake Placid.

Transition to Discovery

The last part of your Credibility Statement is transitioning into the Discovery Step.  We transition by seeking permission to ask questions.  Like with the Transition in the Agenda Statement, we wait for our prospect/client to say “Yes” before moving on.

Example Transition to Discovery

Now that you know a little about Cedar National and me, may I ask you a few questions  (Wait for a yes!)

Reserve Power

The Credibility Statement is a powerful tool you can use to quickly create a great impression in many situations.  For example, just last week I used my credibility statement on my flight to Mexico City when my neighboring passenger asked me what I do for a living. How many more situations can you think of?

Payday Podcast: Discovery (15 minutes)

bullet-podcast-logoDiscovery is the heart of the Silver Bullet Selling Process. Discovery lays the foundation required to build a solid Tailored Solution. During Discovery, listen to clearly understand your clients needs rather than listening to respond. There’s a big difference.

MP3 File

Payday Podcast: The Credibility Statement (16 minutes)

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MP3 File

The credibility statement of the most important aspects of a sales conversation. Use this short, quick statement it to allay the prospects fears and position yourself as an expert. Here are the four parts of the credibility statement: 1. Your company and you, 2. Your typical buyer, 3. Success story, 4. Transition into discovery in the form of a question. Post your own credibility statements at silverbulletselling.com.

Payday Podcast #1: Don’t Work, NETwork!

In this first episode, G.A. and Paul review some tips and ideas for making your networking efforts even more productive. Being a good conversationalist is all about knowing what to talk about. G.A. outlines a simple way to keep a list of topics ready for any situation. (length: 00:16:36)

 


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A Step By Step Guide to Consultative Selling . . .

Silver Bullet SellingWhat if you could interview 6,000 sales pros and distill down their knowledge and experience into the most essential ingredients for success? Over the last eight years, that’s what we did, and compiled what we learned into a new book and online resources. Subscribe to the newsletter below and access some new “silver bullets” for you and your sales team including free tele-coaching sessions, the Silver Bullet Selling Payday Podcast and our Bullet Points Newsletter.

A Proven Six-Step Process for Closing More Sales

The Book Sales People Have Been Waiting For.

Silver Bullet Selling (Bullet Selling) is the definitive book that enables sales people to execute the unique Silver Bullet consultative sales process on every sales call. After 11 years of teaching the Silver Bullet process to more than 250,000 sales people around the world, and culling through 30,000 pages of notes (that’s 11 filing cabinets full!) from over 6,000 interviews with top performers, it was time to distill down the essentials into a book on executing the consultative sales process.

Why this book right now? There are already several brilliant books that describe the consultative sales process in detail, including Mack Hanan’s 1970’s classic, Consultative Selling, and Neil Rackham’s best seller Spin Selling. While these books are long on theory, they come up short on application and execution. In other words, after reading one of these books you will definitely understand what consultative selling is, but you’ll have no idea how to implement it on your very next sales call.

That’s where Bullet Selling comes in. The magic of sales is in the execution, and that’s why Bullet Selling is so much more than just a regurgitation of consultative sales theory. Bullet Selling is the first book to take consultative selling theory and show how to apply it on every client or prospect interaction. Think of this book as a step-by-step implementation guide that will put the Bullet Sales process to work for sales professionals. To accomplish this Silver Bullet Selling is chockfull of true stories, examples, templates and exercises that enable you to execute the Silver Bullet process on your very next customer interaction. In addition, Bullet Selling includes exclusive upgrades to the consultative sales process that makes it even more effective.

Bullet Selling is for the entire universe of sales professionals, no matter what they’re selling. We certainly don’t want to offend anyone or imply that every sales position requires the same skills, because they don’t. However, no matter what the business, it all begins with an interaction between a sales professional and the customer, and becoming an expert at implementing the Bullet Sales process will enable you to achieve the success that motivated you to go into sales in the first place!

Bullet Selling is a book that gets tattered and dog-eared because sales people find it indispensable on sales calls. Bullet Selling includes checklists, examples, worksheets, practice exercises, templates and $500 tips that you can use on your very next sales call. It is also integrated with our website www.bulletselling.com where you can go to find templates, newsletters, success stories, updates, products and join the Silver Bullet Community.

Bullet Selling is for you if you want to:

Make more sales
We know the techniques in Bullet Selling work because they are the same methods we successfully implement with our clients every day. It is not unusual for workshop participants to improve their sales more than 30% and some even double and triple their performance! We would expect the same significant results from readers who apply these techniques. By increasing your sales, you will make more money, earn more recognition and win more sales awards.

Deliver a world-class buying experience
Bullet Selling will guide you through the entire sales process from the initial prospecting call through closing the sale, asking for referrals and follow up. You will learn how to:

  • Pre-call plan. Use preliminary pleasantries, an Agenda Statement and Credibility Statement to help build rapport
  • Ask the right targeted questions that will help you better understand your customers’ unique situation and needs
  • Create a ‘selling gap’
  • Deliver a customized and tailored solution that satisfy your customers’ situation and needs
  • Sell to both the customers emotional and logical needs
  • Address concerns effectively in a non-confrontational manner
  • Vaccinate your prospects and clients against the competition
  • Effectively differentiate your products and services from the competition
  • Ask for the order and close the sale
  • Ask for referrals

Follow up after the sale
Develop deeper, more loyal relationships with your customers. The Bullet Sales process properly executed develops trust which in turn creates “sticky” customer relationships. Customer retention allows you to develop their accounts vertically and horizontally.

Live a take-charge, pro-active life
Bullet Selling is infused with the attitude that you can realize your vision and goals if you are willing to put in the effort and execute. The book builds enthusiasm, energy, a positive outlook and confidence.
Have more fun

Bullet Selling is an enjoyable and quick read. It is illustrated with dozens of great stories and punctuated with humor and “$500 Sales Tips.”

Bullet Selling is a page turner that focuses on the skills sales pros really need to succeed. Like If You’re Not Out Selling, You’re Being Outsold, our previous bestseller, Bullet Selling is written in an in-your-face, conversational style.

So if you’re ready, fasten your safety belt, put your seat and tray table in their full upright and locked positions, and take aim at the competition by buying the book and learning how to put Silver Bullet Selling to work for you!