One of the top hidden objections to any sale is the consumer’s perspective of risk. What am I risking when I say, “yes?”

• Will it work when I get home?
• Is this really going to solve my debt problems?
• Are mortgage rates really as low as they are going to get?

Your number one priority in sales is to help remove as many of those mental “risk” barriers as possible.

Identify the Risks

The first and possibly the most challenging exercise is to identify the risks. Obviously this is challenging since you are not a mind reader. Most of the time these risks factors are going to be tucked away in the back of the customer’s mind.

The trick is to heighten your listening skills. Customers will give you clues:

• Can I call you back and discuss later? (I think there might be a better deal)
• Can you send me an email with the details? (I don’t understand)
• Why do I need to pay for the appraisal up front? (My house may not have the value)

These and more a subtle clues to what the consumer is afraid of-you need to minimize or remove these risk factors.

Overcome the Objection

Another way to remove the risk is to deal with the objection. Show understanding and start a discussion regarding the risk. The risk now becomes and objection and you are simply overcoming it with empathy and understanding. This technique can allow you to allay the fear without having to necessarily remove the risk.

This is particularly important when you can’t remove the risk (i.e., appraisal fees or guarantees of staying out of debt).

Probe for the Risk Factor

Some risks will be less easy to identify. In this case you may have to do some probing.

Use some of the objections and risk factors you have uncovered in the past:

• Are you worried about falling back into debt?
• Are you concerned what this will do to your credit?
• Do you think your home may not be worth enough?

By probing and getting the concern out on the table you can attack it and remove it from the sales process.

Master Risk Removal Technique

Like any good sales technique, it will take practice. As you learn the art and the most common risk factors in your customers minds, you can start removing them.

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Getting Things Done (GTD) is David Allen’s revolutionarily simple concept for personal productivity. It makes a great framework for your sales process too.

I won’t get into explaining all of the nuances of the GTD concept, but rather will focus on some of the key elements that I find useful.

Yellow Pad TO DOs

There are tons of task list applications, methods, and systems. However, I have always found the tactile process of paper and pen to be the most effective. Something about writing out tasks and crossing them off works best for me.

I have a very specific way of implementing this approach.

My GTD task pad starts with a line drawn down the middle and is only good for one day. On the left are tasks that I want to accomplish for the day. On the right are names and numbers of people I want to call for the day.

Things that don’t get done get recopied to a new sheet at the end of the day to start fresh.

Time for Processing

In addition to having a solid task list, I think it is critical to allocate specific time for processing TO DOs, inboxes, and projects. I like to slot this for the beginning and end of each day. It allows you to get your files and priorities in order-minimizing the amount of time you need to waste figuring out what to do next.

Everyday should be organized and planned. Your sales day should be predictable and flow smoothly, transitioning from one task to the next.

Discipline

Finally, the cornerstone of GTD is discipline. Avoiding distractions and staying in control of tasks is the key.

Reacting to interruptions and holding tasks in you head are the sources of stress and unproductive days. Try GTD to manage your sales day.

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Could you be missing a lot of great candidates for debt settlement? If you are only buying debt leads then the answer is, “yes.” You see, debt leads are people that self-indentify they need debt settlement services. Meanwhile, the facts are most people in debt trouble don’t have a clue what “debt settlement” is or how these programs help.

Look beyond the scope of debt leads and you could pick up your sales numbers this month.

Safeguard Consumer Intent

Before you branch out into these other great lead types make sure you are compliant with relevant disclosure, consumer intent, and DNC laws. Even better is to ensure that leads have opted-in to contact for other products and services, and for more good measure ask them for permission. One example would be to have an online request form for unsecured loan leads have an optin box right before the consumer hits the submit button or a popup box after hitting submit that allows him to click a box opting him into also being contacted by a debt counselor as long as he has at least $10,000 in unsecured debt.  By getting him to actually opt in to also be contacted about debt services the lead generator and you are not only better legally protected but the consumer is that much more likely to be interested in considering debt settlement as an alternative debt relief option. The consumer is a great prospect either way and in actuality much more likely to quality for debt settlement than for a loan anyway but you will see greater success if you can buy leads in which the consumer has taken the extra step of specifically opting in to be contacted about debt settlement.

You can approach these consumers with a very simple, trust building introduction.

“Hi, my name is Chase from Debt Settled America and although I know you applied online for an unsecured loan I think you may be able to simply settle your debt. Can I tell you more?”

Finding Debt Settlement Candidates

Where do you find these secret diamonds in the rough? Debt settlement firms seem to be finding success with online requests for any of the below:

• Unsecured loan
• Payday loan
• Bankruptcy
• Loan Modification
• Refinance (poor credit and high LTV)
• Credit Repair

Benefits of Buying Other Lead Types

1.     Troubled borrowers often look for help in strange (wrong) places. A lot of consumers who debt settlement could be the optimal solution for have never heard of debt settlement and you will never reach them if you wait for them to come to you. Start thinking about the profile of your ideal candidate and go find leads able to deliver you the best prospects.

2.     Consumer having shown interest in other lead types won’t be shopping other debt settlement firms. Be the first to offer them the option of settling their debts as an answer to their financial dilemma.

3.     Other lead types tend to allow you to filter for criteria not available in a usual debt lead such as credit, behind on payments, LTV, loan amount, income, employed, etc. and thus get to someone likely to be a very motivated prospect as well as often a very profitable one. At times they can even suggest consumers very likely to have above average debt amounts as in the case of bankruptcy leads.

4.     Lead vendors likely to give them to you cheaper since you will not be stepping on toes of their regular clients.

Give these other lead types a try and stop leaving as much money on the table. You will be surprised how well they perform. They really do represent a win win win for lead vendors, debt settlement firms, and consumers and I expect cross-selling to become much more commonplace in the lead industry.

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Getting to “Yes” is the fundamental goal of every sales process.  But, how does that work? At the core it may be more psychological than logical. Robert Cialdini, author of “Influence: The Psychology of Persuasion” is convinced of the fact.

You should certainly read the book, but I will give you a little insight into where I think the simplicity of getting the customer to verbalize “yes” is half the battle.

Yes, Yes, Yes

I have forgotten who said it, and in a brief search I couldn’t find it either, but one of the sales greats (i.e., Zig Ziglar, John Maxwell, et al) used to teach the art of the 3 Yes’s. Getting the customer to affirm with you in the positive three times can be a powerful advantage in your sales negotiation.

The reason is as simple as Cialdini’s principle of “Commitment and Consistency”:

“Once we have made a choice or taken a stand, we will encounter personal and interpersonal pressure to behave consistently with that commitment.”

So, if you can get the customer to agree with you on:

• A problem they need a solution to
• Their basic need for a product like yours
• The fundamental value of your solution
• Significant consequences of not buying

Then getting to the ultimate, “Yes, I’ll buy,” is easier.

Confirm Decisions

If you do get the ball rolling in the right direction and the customer starts saying, “yes” don’t forget to affirm. Your sales process should continue to confirm and support their decisions.

Each of these small decisions (listening to another option, accepting a quote, agreeing to an appointment) needs positive confirmation from you.

• “Excellent, Mrs. Johnson. I would be happy to get that quote you requested over today. Would this afternoon be soon enough?”
• “Mr. Smith, I agree with you that mortgage rates are probably as low as they are going to get. More reason to get this rate locked as soon as possible.”

Consistency Brings the Deal

Once you have achieved this commitment, their need to remain consistent more times than not will bring the closing. So, lock in more “Yes’s” from your customers to close more deals this month.

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Often our productivity is damaged by myths of “hard work.” Are you one of those “first one in, last one out” people at your office. If so, you are probably wondering how everyone else is beating your pants of in sales numbers.

That’s right…I am guessing you spend most of your days dreading long marathons of calls or mundane tasks. I am going to reveal to you those other guys secrets-turn your day into a series of sprints, not marathons.

Time Blocking

The first step in designing your day as a series of sprints is to “time block.” This is a very simple concept of allocating specific blocks of time in your day for very specific task types.

For example, give yourself a period of time for outbound calling, another for returning calls, and yet another for reading and responding to email. These are all tasks that tend to interrupt the flow of other more strategic, but often more important tasks.

Time blocking typical interruptions can keep you focused and stress free, as other tasks disappear from your TO DO list.

Managing Sprints

Now it is time to sprint. Sprints should be built into your time blocking schedule. For a sales person this often means outbound calling sprints. Here are some basic rules of sprints:

• Shut-off distractions
• Start and stop on time
• Keep them short (30 min)

Maximizing the effectiveness of these sprints requires them to be tightly managed. That means, shut-off all other distractions (i.e., email, Twitter, Facebook, Blackberry, etc.).

In addition, they must be started and stopped on time-no bleeding into other time blocks. This discipline will also help to motivate digging into the calls, knowing you only have a short amount of time to produce some results.

Maximizing Breaks

In between sprints you need to maximize those breaks. Take some time to learn something new, process your inbox, update your TO DO list, do some research-make it less intense, but productive.

Don’t Get Distracted!

Most importantly in using the sprint strategy is the principle of avoiding distractions. Keep on point and focused. You will see your productivity and sales performance quickly improve.

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I really enjoy reading and listening to Chris Brogan. He has quickly become one of the rockstars of social media. Following him is sure to get you smarter and producing more sales with social media.

Lately, he has been talking a lot about Presence Management.  This is a critical concept in improving your credibility, trust, and reputation online. One step in building those online relationships that converts.

This is a great article on the “19 Presence Management Chores You COULD Do Every Day.”

Are there other techniques and “chores” you do everyday to enhance your online presence?

What social media and networking sites do you use?

• Twitter
• Facebook
• LinkedIn
• ActiveRain
• BrokerOutpost

I would love to hear of more examples and the best way to use them.

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There is no question that CRM or other lead management software will make you more productive and effective at converting aged debt, loan modification, and mortgage leads. However, making the right decision can be difficult.

Although I will not give any specific endorsements I will give you an introduction to some of the ones I have found that you might want to check out:

Debt Management Software

• Debt Manager 2000
• Prime Debt Soft
• Credit Soft

Loan Modification Software

The loan modification is a much newer space. Therefore many of these software systems are going to be brand new. So, be cautious and make sure you get some sort of free trial.

• Direct Capital Software
• Casimod
• Broker Outpost also had these suggestions

Mortgage CRM Software

• Kaleidico Sales Manager
• Top of Mind Networks

Give these CRM software providers a try. Tell me what you think and if you have other recommendations.

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Jeffrey Gitomer tells us in his Little Red Book of Selling that “You” is one of the most important words in sales. This may sound surprising when we always talk about “customers first,” “the customer is always right,” and “customer-centric.”

His point is very important. Customers don’t buy products, services, or unique value propositions first-they buy “You!”

That obviously means you need to get this part right. Here are a few suggestions:

• Always be polite and courteous
• Have a good attitude
• Listen and be willing to help
• Avoid industry jargon
• Be knowledgeable about the market
• Be knowledgeable about the product
• Ask them questions and gauge understanding
• Make it easy for them to contact you

Remember it is important to sell yourself and your willingness to help them before you even mention a product.

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There is nothing more important to being effective with aged leads than persistence. Aged leads, by definition, are more challenging to convert (hence the great price). However, the persistence and doggedness that your competitors lacked can be you key to success.

Building a persistence machine

When you buy aged leads you should take a few extra minutes and plan your persistence campaign. This should be a combination of touch points: email, phone, and direct mail.

Know how you are going to sequence these touches and how often you think it is important. Then test your process and then improve it.

Importance of CRM

It goes without saying that if you are buying thousands of aged debt or mortgage leads you had better be using a good debt or mortgage CRM. The human fact is that you will waste a lot of money and opportunity if you are just trying to work through a spreadsheet.

Here’s why:

• You will lose track of where you are
• You will lose or lack important notes
• You will mis-call, over call, or under call the leads
• You will be overwhelmed and frustrated
• You will quit

Don’t skip the CRM software. Even the cheapest and most inadequate system will beat a spreadsheet for conversion.

Database Marketing

Don’t forget the long-term value of these leads. People change, finances change, needs change-a “no” today could very easily be a “yes” tomorrow.

Create a lead nurturing program that continues to add value to these leads. Provide market updates, helpful debt or homeowner tips. Stay top of mind for each lead in your database.

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It is so easy, when you are the expert, to forget the basics. This can be very dangerous to your conversion rate on aged debt or mortgage leads. Most of your prospective clients are going to be completely clueless about the debt or mortgage business. You’re tendency is going to be to rush in with the final details-losing the deal.

Where is the Customer?

The first place you should always start is an attempt to figure out where the customer is-why did they make a debt or mortgage inquiry? This is the most critical assessment you can make and the one most debt counselors and loan officers blow through.

Chances are you will find out they only know they have a problem. Not how they got into trouble or how to get out of it. To 90 percent of debt and mortgage customers the problem and the solution are magical-your opportunity to help!

Ask Questions

Assume the consumer, that is that aged debt or mortgage lead, is really lacking knowledge on how to navigate these financial waters. Start your discussion with questions. They are less intimidating and immediately the customer has the sense you really care.

Ask less intrusive questions first and really get a feel for their level of knowledge. I also suggest you determine any incorrect information they may have learned or been given in their earlier research.

Educate First

Now with a clear knowledge map it is time to educate. In a very helpful manner start educating the borrower. Use a very simple, no jargon approach. Again, arming the consumer with facts and accurate information will build trust and confidence in your service to them.

Continually Assess

Just as a teacher would do with students, you should continually assess the customer. Ask them questions and have them repeat to you what they think you told them. This is a critical step in making sure you are on the same page and that they understand so they won’t go looking for information somewhere to avoid looking ignorant to you.