Flashcards in Sales Career Deck (110):
Basic Sales Process?
1) Understand the Product
2) List who would buy the product
3) Gather leads in each of those categories
4) Schedule appointments
5) Research prospects
6) Prepare for the meeting
7) Pitch the product
8) Address objections
9) Close the Sale
10) Get Referrals
11) Follow Up
ABCs of Sales
ALWAYS Be Closing
The Key to a Sales Job
Confident Perseverance; "No"="Next"
3 Steps to Getting the most money out of a sales Job
1) More Calls
2) Greater Success Ratio
3) Ask Closers to Upsell
3 Steps to making more calls than anyone else
1) Show up Early
2) Don't waste time planning, just call all day
3) Stay there late
Why is Listening so Important in Sales?
You need to learn what is important to THEM. Ask Questions and listen attentively
Two components to every buying decision
NEED and EMOTION
Do they need what you are selling?
Can you leverage their emotions to pry them into it?
The attitude of a Salesman
MEDICAL DOCTOR: I examine the patient (ask questions), and offer a prescription (product) based on their symptoms (needs)
Write down everything you want to say in the phone call
Once you've closed the sale...?
So not talk about the product or their needs.
You will talk yourself out of the sale
The Pareto Principal in Sales
80% of the Revenue comes from 20% of the closes. 80% of the total closes comes from 20% of the sales team. YOU NEED TO FOCUS ON THE SUCCESSFUL 80%
Scientific Method in Sales
Observe: what are the top sales people doing differently?
Hypothesis: If it works for them, it will work for me? (Copy them)
Experiment: Try it out, one change at a time,
Record: Track Changes in your success ratio
Evolve: If it works, add that skill to your call routine
Importance of Networking in Sales
You always want to make new friends who can give you referrals
F.U.J.I. in Sales
Fear of Loss
Fear of Loss in Sales
Want to create a sense of limited SUPPLY for the client
Urgency in Sales
Want to create a sense of limited TIME for the client
Jones Effect in Sales
Any Client will want some form of "Competitive advantage" over the others
Steps in a Sales Pitch
2) 'Short Story'
4) Assume the Sale
Emotions that Drive Demand
Financial Stability (You can easily afford this)
Fear (You can't afford NOT to have this)
Simplicity (This is the fastest no-hassel solution)
Popularity (Everyone else already has it)
The only two basic needs you build when selling someone a product (one or the other)
1) Need for Change (They do not like their current situation)
2) Need for Order (I want to maintain my current situation)
The only two basic "real product"s a client is interested in
Themselves (Money, Power, Growth)
The world (Employees, Clients, the Planet)
Call to action for self-interested (ego motivated) advocates for change
"You need to REBEL! IF you want to make a change, this right-here-right-now is your opportunity." (Make them uncomfortable by waiting) Keyword: REBEL
Call to action for mission-oriented (socially motivated) advocates for change
"You're working to accomplish something great... People who accomplish great things are people who are willing to SACRAFICE. Are you ready to make a sacrifice that will effect more people than you can imagine... Please" Keyword: SACRAFICE
Call to action for mission-oriented (socially motivated) maintainers of order. with Keyword
"There's nothing wrong with success. But you must PROTECT your progress. You've achieved so much and you owe it to these people to PROTECT that progress... Please" Keyword: PROTECT
Call to action for self-interested (ego motivated) maintainers of order. with Keyword
"Right now you enjoy a great deal of power in the present, and I respect that... But if you want to secure that same power for the future... You need to CLIAM it. Are you ready to claim your future?" Keyword: claim.
The Sales Funnel
Within Market>Target Market>Leads>Prospects>Buyers>Customers
Market Research in the Sales Funnel
Discovering what kinds of people within your market should be your target market.
Sales Prospecting in the Sales Funnel
Identifying Leads within your target market
Sales Calls in the Sales Funnel
Reaching out to the leads to identify which ones really might be prospects
Closing the sale in the Sales Funnel
Makes the Prospects Commit by making a purchase
Fulfilling an Order in the Sales Funnel
Turns buyers into actual customers
People "Within our Market"
Anyone capable of making this purchase
People "Within Target Market"
Anyone who fits the description of the people who buy the product most often
People in the target market that you believe would be interested if contacted
Leads that have expressed interest once contacted
Buyers in Sales
Prospects with whom you have closed the deal
Customers in Sales
A buyer for whom the order has been fulfilled
Leading a Sales Team
1) Go out of your way to congradulate others on their closes and achievements
2) Share information that they might find useful
3) Provide constructive criticism
Psyching yourself into sales
"I'm gonna have some fun with this"
"I've so got this"
"Yes means a high close ratio. No means more calls per hour... It's a win-win"
Celebrate after hearing the "Yes" everyone should know. Make it a big deal.
Call order strategy
Order Leads from least to most likely so that the next call has a better chance than the last
Sending Sales Material
Generally want to send an email to go allong with the call.
Always have a link at the ready.
Optimum time for sales calls?
2:00pm They're in the office and full from lunch
Importance of your voice in a sales call
It's all they have
Crafting the best initial sales email
1) Personal- Know the name of the owner and their situation
2) Reminder-Send a link
3) Keep it short
4) Leave contact information
Sources of Leads
1) Google Alerts
2) Job Postings
4) "Local" News Blogs
5) List of Subscribers to new Publications
6) Hashtag Search
Types of follow up
1) Provide Updates
2) Provide Educations
3) Say Thankyou
4) Event Cards
Two most Important questions you can ask in a sales call
1) Why do you do what you do?
2) Are you happy with your progress?
Product Life Cycle in Sales
1) Introduction (Low sales, need to educate the Public, need many sales people)
2) Growth (Higher sales, larger marketing efforts
3) Maturity (Peak Sales, Need to MAINTAIN)
4) Decline (Sales Plummet, need a new product)
Words to USE
Opportunities, Opportunity, Benefit, Benefits, "Say Yes", Relationship, Agree, Advantage, Need,
Avoiding Sales Mistakes
You're not a salesman by nature: everyone needs more practice, everyone has more to learn.
STOP talking, just listen
Indifference in a Sales Call
Prospect is more likely to buy if you pretend you do not care whether they buy or not
Cultivating Fear of Loss in a Sales Call
"I can't promise you"
"You're my last call of the day"
"We only have a couple spots left."
"You might or might not qualify"
Cultivating Urgency in a Sales Call
"Actually they wont be offering this after..."
"If you register today we could...."
"I have another call coming through, should I put you through to registration..."
Building the Jones Effect in a sales call
"I know ... already registered, and since then they've...."
"What we're selling IS competitive advantage"
"The Apology" Sales Close
"Before I let you go, I just wanted to apologize. My job is incredibly busy, I can't always express the value of what we offer the right way. I do a lot of communicating with a lot of different people, but I'm not perfect and I can't always explain the advantages as clearly as I should.
Not-in-the-Budget Sales Close
"That's perfectly understandable. Every single business needs a well-balanced budget. But that budget is meant to be a tool, not a cap on your success. You can either exercise your right to flex that budget or you can allow the budget to control your actions. What I'm offering is ....... Knowing that, will you flex your budget or let that budget control your enterprise?"
"Law of Ten" Sales Close
"I've found that the best test of the value of any one thing is to look back at it years later and honestly ask yourself, 'Would I pay ten times what I paid for the benefit this brought to my life?' And whether it's a marriage license or a medical treatment, the truely valuable things in life get a 'yes'. I've followed up with people like you in the past, and when I ask them that question, the answer is a resounding 'yes'. So what do you say?
"My dear old mother" sales close
Ya know, my Dear old mother once told me "silence means consent"... Come on, tell me she was right."
"The No" Sales Close
"How can you say that? Declining this opportunity isn't saying 'no' to me, it's saying 'no' to an infinite number of .....for your business. I've seen how businesses benefit from what we offer. Okay, lets... get serrious for a minute: a lot of what I say in these calls is just being a cheerleader for this product (psyching people into it)... but I've gotta tell you, from what you've told me today, I think this opportunity would be PERFECT for you. Knowing that, I can not let you say no."
"Wish-ida" Sales Close
"Do you know what a 'wish-ida' is? Everyone's got a couple wish-idas; something they with they'd done differently... Wish-ida bought Google stock back in 2008... Wish-ida asked out that one girl back in highschool... Wouldn't it be nice if you could do something today, you'll actually be happy you did later on."
"Best things in life" Sales Close
"Look at it like this. The things you enjoy most in your life are the things you said "yes" to. You said "yes" to your marriage. You said "yes" to your home... I want you to give that same "yes" to all the opportunities we offer.
Resolving a Cost based Objection in a sales call
We're the industry standard when it come to results... the other guys skimp on quality of service.
Resolving a "we don't need that" objection in a sales call
"This is the trend... you may not need it now, but you're about to. I'm offering you the chance to get ahead of the curve... so the other guys are the ones that have to catch up to YOU"
Resolving a "Fear of Change" objection in a sales call
"Your suppliers will change, and so will your customers. It's a fact. We're offering you an opportunity to adapt."
Resolving a "Against the Rules" objecton in a sales call
"The fact is rules are meant to help streamline operations, not but a cap on your success... Are you willing to take a chance, to break the rules and reap the benefits?"
Resolving a "Credibility" objection in a sales call
"We may not have a reputation just yet. But I promise you, when we do, you're going to be glad you were first in line."
Dealing with an Objection
Objection means a "missing belief"
find out what they're missing in their understanding of what you offer and bridge the gap
Maintaining control during the sales call
1) Write out everything you want to say
2) Prepare before hand... RESEARCH
Process for carrying the medical attitude
1) Establish yourself as an expert
2) Find their problem, something is hurting them
3) You get all the information you can about the problem
4) You make the recommendation
5) They pay for treatment
Providing personal credibility in a sales call
"I've been involved in this industry for ___ I've helped over___ resolve similar issues.
Offer your product as a recommendation.
"Okay, so from everything I'm hearing today. I'm going to recommend..."
Provide information about your product as if it were a drug
"This product works by ___ Over time you'll start to see___ Most people see results within____ "
Assuming the sale
"I'm going to connect you with our fulfillment department. Sound good?"
Reduce it to a simple "yes" or "no"
Maslows Hierarchy of Needs
Most Important: Survival
Next Important: Safety
After That: Social Relationships
Finally: Intellectual Achievment
*All Products must be in terms of Survival (need to Change) or Safety (need to Protect)
Open ended Questions: "Tell me about ___"
Be quiet, let them talk
Regurgitate their main point: "In other words ___"
Ask then a question, "Have you considered..."
continue Regurgitating Information
Handling Price Negotiations
Never EVER go below cost...
Always have a limit, if they insist on going under. Hang up on them.
1) Do the Prepwork BEFORE you go to the office
2) Come in early
3) Hang up on the "no"s
4) Stay in Late
Law of Averages in Sales
The more calls you make, the more sales you will close. Talk to as many people as you can
Things you must understand about the product
The Target Market
The Ideal Customer
Compatibility with other Products
Benefits to the Customer
Who might buys a particular product?
By Situation (why would someone buy?)
By characteristics (Who would they be?)
By behavior (what else would they do?)
By network (Who would they associate with?)
By Location (Where might they Buy?)
By Timing (When would they consider the product?)
Scheduling appointments with Prospects
Contact each of those leads
Do not hang up the phone until they give you what you want: a meeting
Researching the Prospects
Use: social media, network, books, announcements
Where are they from?
How's their Homlife?
What's their income level?
What are their needs?
What are their biggest emotional hotspots?
Demand factors for a product
Comparability and Simplicity
A Product Profile
Demand Factors (Pricing Options, Benefit Statistics, Availability, Current Popularity, Comparability and Simplicity)
Happy Client Case Studies
The main message when training sales people?
Do it MY way... no exceptions.
You are an infantry Soldier. DO... don't think
Two parts of Sales Training
1) Sales Theory (Book Smarts)
2) Practical Sales (People Manipulation Skills)
Best form of training
On-the-job trianing... actually pickup the goddamn phone
4 Main Naseba Services
1) Investor Introduction (Sharing Money)
2) Industry Meetings (Sharing Money)
3) Leadership Forums (Sharing Knowledge)
4) Professional Trainings (Sharing Knowledge)
Four Daily Activities for a Sales Job
1) Research leads
2) Pitch the Product
3) Hammer Home the Benefits
4) Close the Deal
Naseba markets for Investor meetings
2) Natural Resources
3) Alternative Energy
Two key player in the investor meetings
Vendors=Business Cases (Have an innovative product, need money)
Delegates=Investors (Have money, need innovative product for returns)
Sales point of view on voicemails
Do not leave voicemails:
-People do not listen to them
-If people listen to them they don't write anything down
-If they write it down, they don't always call
-It's a waste of time, it's much better to actually talk to a real person
The KEY to an engaging sales call
A SEXY voice
Elements of an effective voice in a sales call
4) Manipulation of Accent
Benefits of inside sales over outside sales
Face-to-face meetings actually make the sales process take even longer
Goal of the very first call to a business
Get across as much information as you can, give them a complete education about the product
Best way to deliver a seemless pitch for the whole day
Do pitch Practice in the morning
Time Management for sales
Researching leads=2 Hours a day
On the Phone=9 Hours a day
Ways of overcoming fear in a sales call
1) Push your comfort zone=feel uncomfortable but do it anyway
2) Trust in what THEY tell you to do
Key to being a strong sales leader
ENCOURAGE the sales people around you
15 Attributes of a Great Sales Person
1) Passionate=Enthusiasm/Belief in Product
2) Focused= They ignore other parts of their lives
3) Strong Work Ethic=Show up Early+Optimize Time+Stay in Late
4) Fearless=Feel uncomfortable but they do it anyway
5) Confident=Understand that the discomfort is temporary and the next sale is inevitable
6) Arrogant=Willing to prove their the very best
7) Willing to challenge the Client=Able to tell the client the way they were doing things doesn't work
8) Good Listening Skills=To Boss and Client, and be able to 'steer' the lead based on what they are saying
9) Knowledgeable= Knowing all the ins and outs of the product
10) Good at Lead Research
11) Good Time Management Skills
12) Target Driven=Able to set and share goals
13) Never offer Excuses=They accept responsibility and admit mistakes
14) Humble=They don't EVER get too cocky. You ALWAYS can do better
15) Consistent=Deliver the same pitch the same way, just as they were told
Two thoughts of confident sales people?
1) Discomfort is always temporary
2) The next sale is inevitable
Benefits vs Value in a Sales Pitch
Benefit=What separates our product from competitors
Value=The advantages for the customer
*Must translate benefits into value for the client
*Each benefit carries a value
Sales Point of View on Emails
PEOPLE close sales, not emails.
Only use emails to complement a conversation you are already having
Formulas for the number of leads
Daily Leads=9 Hours/call length=(Leads generated per hour) x (Hours on lead research)
Goals to maximize call volume
1) Shorter individual calls=More Calls per day
2) More leads Generated per Hour
3) Higher Quality Leads
The biggest selling point for an investment-based product?
Two key variables in the amount of time you should spend explaining the product
1) How recently it was released
2) Brand recognition of the company
Benefit rule of product alternatives
No two competing products can offer the same benefits