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  • WelcomeInteractive and participatoryFront row = million dollar producers.Audience bondingWhen you chose this track, there was information you were hoping to get from it, what is that? Hold this question for legitimate answers.
  • Three Minute Sales DrillBased on Solomon Sales SystemDesigned to work effectively, with dignity and integrity;Regardless of the buyer, the sales cycle length, the dollar size, or most other sales variables. Especially regardless of whether or not the sales effort is electronic or face to face.For use by early career sales people, has proven very effective for seasoned sales professionals and whole sales organizations as well.
  • Organized for easy comprehension and use into Tweet-sized proverbs on salesSolomon Says: "All of Sales is a Return on Investment equation, the sale happens when the buyers perception of return exceeds the investment."Return equals WIIFM or what's in it for me. What do I get?Investment equals "What risk do I have to take?" to get that Return. In this case Risk or Investment is not just money but all of the time, energy, effort or infrastructure required for the buyer and their team to implement your solution
  • Organized for easy comprehension and use into Tweet-sized proverbs on salesSolomon Says: "All of Sales is a Return on Investment equation, the sale happens when the buyers perception of return exceeds the investment."Return equals WIIFM or what's in it for me. What do I get? The only reason anyone ever makes a choice to do something, it is because they get something they want.Investment equals "What risk do I have to take?" to get that Return. In this case Risk or Investment is not just money but all of the time, energy, effort or infrastructure required for the buyer and their team to implement your solution
  • Solomon Says: "Every relationship in the world is dependent on three things, trust, credibility and interest.“Trust and Credibility live in the "O" of ROI because it rolls around on the scale. It starts out as an Investment the buyer must make in the seller but then rolls to the Return side of the equation making it harder for a competitor to get in the door.Interest is simply what we do that has value for our prospect and the weight of it drops right to the R in the ROI equation.based on their wanting what it is you have.
  • Solomon Says: "Motivation to action lives in the gap between what we have and what we want (or want to avoid.)“These are the power questions of any dignified, integral sales effort.What do you have now? -CurrentWhat do you want (or want to avoid?) -IdealHow do you measure the difference (or Delta?) -DeltaAnd to really bring it home, what happens if nothing changes?The Delta drops right to the return side of the equation also.This is the essence of "Needs Analysis" or understanding the buyers motivation to buy.Effectively asked only with the understanding we are attempting to serve the best interest of the buyer.When asked well, and more importantly, when you listen to the prospect, you build sufficient trust and credibility to close the deal.
  • The Selling MomentThe selling moment, or the exact moment of conversion, is that point in the buyers mind, where all they will receive on the R side of the equation is more valuable to them than the Investment side, or the Risk side of the equation.Unfortunately it is a moment in time that is invisible to the naked eye. We never see when it happens.Working to build our value to ten times the investment will provide a better return than banks or most investments making us a good choice.Some sales people discount their price to improve the buyer value. That is a lot like drinking seawater to slake your thirst in a raft on a deserted ocean.It looks like a good idea. It will kill you.Reducing your price reduces the buyers belief in your value and more importantly, your own belief in your value.Reducing price reduces the cap rate value of the company you work for, your valuation.Reducing price makes it harder to provide high quality service or to move back to the value you believe you offer.Far better to help the buyer recognize the value you bring to them, over your competitors and over the choice to do nothing at all.Think about the last car you purchased and why you purchased it. You likely had a car or if not that would be its own reason to want one, right? What was going on with the car you were driving before the one you bought? What was happening that you wanted to change? The questions you were asking yourself prior to choosing to go ahead and buy your new car were very much like the buyers questions.The questions they are asking themselves on the return side of the equation include but certainly are not limited to: What do I want What do I need How much do I really want this thing? How will I feel when I get it? How soon do I need to have it? And the killer question, What if I don’t get it?On the Risk side of the equation the questions you need to answer are What does it cost Do I believe the seller How much time or effort of mine will it take to do this Is this really the right answer Is there something involved I haven’t figured out or thought of yet How does this purchase make me feel? How will my boss, my wife, my employees, my friends or dozens of other people feel about this
  • The 20 Second Prospecting ScriptTrust: comes from permission to say no to you in some form or fashion How hard in 20 seconds would it be to slip in something like, “I don’t know if this has value to you.” or “Would it make sense for us to talk about this?” “Perhaps there is a better time to mention it.”Credibility : always comes from other people through naming them, stories, how many there are, how long you’ve supported them and more We don’t have time for full blown testimonials or referrals Can reference the person who recommended us if available – Very powerful In some cases, names cannot be used, where confidential or mandated by law like financial planners. In those cases, length of time in business, ranges of value or client volume makes a difference. Ideally, referral, then Marquee value clients, then range or client volume in order.Examples; “Our friend Michael Goodman, mentioned I should speak with you.” “For clients like Clate Mask, Seth Godin or Simon Sinek, we have been able to prove …” “For the last 5 years, over 23,000 small business owners have found …”Interest: based on what you offer that they want. Your “Unique Selling Propositions” or “Value Propositions”The fastest and easiest way to figure this out is think about the last ten people who purchased from you. Then think about the real reason they purchased from you versus someone else or doing nothing at all.Odds are you will find there are really only generally 3 to 5 primary reasons they choose you. Those reasons could include your differentiators, the way you have proven to manage their issues, your trust worthiness or credibility in the marketplace or something else. Still typically you will only find a limited number of overall reasons.Pick the three most powerful reasons they do. That is, the three greatest reasons a buyer would reach in their pocket, pull out money and give it to you.Examples; For a web developer. “We work hard to understand your vision, be responsive to your timing and budget and deliver on time.” For a coach or consultant, “My clients have received faster results, at much higher levels with a lot less heartache and headache than they thought possible.” For a marketing software company, “We grow sales, save them time and help them get organized.”
  • Build an example with two or three people in the room.Have them try it on their own.
  • Trust, Credibility , Interest (Or TCI) are what we use to get people to speak with you in the first place. It is specifically designed to reduce the flight or fight energy our prospects must experience in talking to us in our sales mode.To really power up our conversion rate, we use a different language structure called Current, Ideal, Delta.This is far better suited for a face to face or phone call exchange rather than electronically via emails or other means, however it can be done.CID calls into the buyers mind all the reasons they want to make a shift of some sort and just how much they want that shift.By answering your reasonable questions of understanding their need, they, and you, recognize how important a shift is (or is not).Most importantly however, when done well, with listening more than talking, you build huge trust and horsepower to close the deal. This is where you win or lose any deal you’re working on and you never have to ask a closing question.It starts simply by confirming what THEIR agenda for your conversation is.
  • I first wrote this model in 2001 and realized the structure of sales was broken up into 3 major phases of sales. I called them Sales Prosecution, Opportunity Discovery and Post Sale. This was good because it identified the processes.A marketing partner I had gave me a hard time about my names and shortened it to Find Sign and Support. Ok, I can be educated about simplicity.Within the last month or so, the smart marketing people at Infusionsoft came up with not just a simple breakdown of the three elements but used more powerful words and images to convey the concept.
  • The new Infusionsoft model is short and sweet. Attract, Sell, Wow.
  • "Nurture bridges the gap between Attract and Sell.“The greatest difficulty with our "Attract" efforts is that we often attract people who aren't ready to buy. The timing isn't "Right now." Nurturing allows us to build top of mind awareness until the timing accelerates to right now.A well designed nurture process also allows us to gather "qualification jigsaw puzzle" information to foster the selling moment.
  • This model is called the PainPowerFit model developed originally by a handful of VP’s of Sales from Oracle Corporation.Their specific question was, “When any transaction comes together and we win it, what different things did we have to find to win?” In that retreat they found 27 different items. My friend, John Buie who was in that meeting later distilled the answer to 9 different items. John is the founder of SalesTraction, Inc.When we are in the sales cycle with any prospect, these are the nine items that must be resolved for the conversion to happen. When a sale does happen, the buyer has sufficiently resolved them for their purpose.EVERY INTERACTION WITH A PROSPECT IS AN OPPORTUNITY TO DISCOVER ONE OF THESE PUZZLE PIECES.
  • Let’s understand the puzzle pieces.Critical is nothing more than knowing what their motivation to buy is and how much they are motivated. It is often called “Pain” or “Dominant Buying Motive” It is the key to the whole sale. If the prospect has no motivation to buy than any further effort on behalf of the prospect is wasted. If the motive isn’t sufficient, then the whole deal falls apart easilyRecognized means they know they have to motive and how powerful that motive is. Have you ever had the experience of going to the grocery store for 3 or 4 items and completely forgetting what you went for by the time you get there? Picture your buyer with all of their daily demands for attention and how difficult it would be to remember why they even started talking to you in the first placeSpecific means they have an understanding of all their buying motive and whatever it takes relative to cost, time, effort for themselves and their people to solve their buying motive and they are still willing to move forward. They have solved the ROI equation to fix the problem.Wherewithal means they know where the money is coming from or any other resource required to do the dealLeadership is the one person who by making a choice to move forward carries all the rest of the folks AND they have intention to act.Credibility means they believe we have the capacity to solve their issue.
  • Suitable means our solution for them solves their motivation to buy and they know it and we know it.Advantage refers to how well we solve their motivation to buy against competitors. This is trickier than it looks because competitors could include people we never thought of like a car mechanic fixing the vehicle instead of the choice purchase a new one. Timeliness is whether or not it makes any sense to spend any more time on this transaction and it is completely our decision. If the buyer is not cooperative, odds are they don’t have the motivation they originally did. If they lose motivation than you may be chasing a non qualified deal.
  • ** A square-shaped photo will work best in this circle-photo layout.To add photo inside the circle shape:click the icon inside the photoNavigate to the location of desired photo on your computer and select the fileClick ‘insert’ and your photo will be inserted

Transcript

  • 1. The Ultimate Event for Small Business Success. The Selling Moment! Getting there with dignity, integrity and ease Michael D Goodman President, Revenue Kinetics, LLC @goodmansales
  • 2. The Ultimate Event for Small Business Success. The Three Minute Sales Drill An easy way to understand everything important in sales
  • 3. The Ultimate Event for Small Business Success. • Based on the Solomon Sales System • Creates Sales with dignity, integrity and effectiveness • Regardless of the buyer, sales cycle, dollar volume, et al. • Regardless of electronic or personal sales process The Three Minute Sales Drill
  • 4. The Ultimate Event for Small Business Success. • Tweet Sized “Proverbs” on sales • Easily digestible with a powerful message • Free subscriptions for daily delivery at RevenueKinetics.com The Three Minute Sales Drill
  • 5. The Ultimate Event for Small Business Success. Solomon Says: “All of sales is a Return On Investment equation. The sales happens when the buyers perception of return is greater than the investment.” Risk R O I The Three Minute Sales Drill WIIFM
  • 6. The Ultimate Event for Small Business Success. • Solomon Says: “Every relationship in the world is dependent on three things, trust, credibility and Interest.” R O I T C I rust redibility nterest The Three Minute Sales Drill Risk WIIFM
  • 7. The Ultimate Event for Small Business Success. Solomon Says: “Motivation to action lives in the gap between what we have and what we want.” R O I T C I The Three Minute Sales Drill Current? Ideal? Delta? Risk WIIFM
  • 8. The Ultimate Event for Small Business Success. Solomon Says: “Selling like a professional means always selling to what they want or need and how much they want it.” R O I T C I The Three Minute Sales Drill Current? Ideal? Delta? What they want What they need How much they want it How they will feel What it will do for them How soon do they want it What if they don’t get it What does it cost Do I believe the seller How much time will it take Is this the right answer What else will I need How do I feel How will others feel Risk WIIFM
  • 9. The Ultimate Event for Small Business Success. The Selling Moment The Selling Moment is the exact moment of conversion. – In the buyers’ mind, it is the moment they realize what they are getting is worth what they have to invest. – Always, at its very root and often invisible, is based on an emotional payoff more than financial – Four times more likely to be based on something they want to avoid versus something they want to gain.
  • 10. The Ultimate Event for Small Business Success. The Selling Moment The 20 Second Prospecting Script Trust: comes from permission to say no to you in some form or fashion Credibility : always comes from other people through naming them, stories, how many there are, how long you’ve supported them and more Interest: based on what you offer that they want. Your “Unique Selling Propositions” or “Value Propositions”
  • 11. The Ultimate Event for Small Business Success. Try it! Choose two of your current customers Choose the top three reasons they chose you Build an opening with both customer names and all three reasons they chose you, add a way for them to say no. The Selling Moment
  • 12. The Ultimate Event for Small Business Success. Current, Ideal, Delta As simple as What do you have now? What do you want to have or want to avoid How would you measure the difference Must be converted to your own natural style. Is the single most important key to conversion Starts with their agenda The Selling Moment
  • 13. The Ultimate Event for Small Business Success. Current, Ideal, Delta Agenda Examples (Phone, Face to Face) In the time we have, I want to cover what is important to you. What would you like to know most? In addition to what you have already shared, what is important to cover? On this survey form, would you mind ranking the order of importance to you the following items
  • 14. The Ultimate Event for Small Business Success. Current, Ideal, Delta Current Examples You shared that ________ is important right now, can you tell me what is happening with that? What is going on with ______________? Ideal Examples When you thought about what you would really like to have, what did you come up with?
  • 15. The Ultimate Event for Small Business Success. Delta Examples On a scale of 1 to 10, where are you now? (typically feelings based question) If you were to guess, how much is that costing you a year? Bonus question What happens if nothing changes? Current, Ideal, Delta
  • 16. The Ultimate Event for Small Business Success. Current, Ideal, Delta This is the pivotal point of every sales effort Done well; It loads up the Return side of the ROI equation Builds enough trust and credibility to convert Improves conversion rates Takes out the competitors Stops pipeline bloating Strengthens every relationship Current, Ideal, Delta
  • 17. The Ultimate Event for Small Business Success. Nurture your prospects Taking advantage of the timing gap
  • 18. The Ultimate Event for Small Business Success. Sales Structure Good – (Circa 2001) Opportunity Sales Post Discovery Prosecution Sale Better – (Circa 2008) Find Sign Support
  • 19. The Ultimate Event for Small Business Success. Sales Structure Best – Today New from Infusionsoft!
  • 20. The Ultimate Event for Small Business Success.
  • 21. The Ultimate Event for Small Business Success. Nurture & Qualify “Nurture” bridges the gap between “Attract” and “Sell” We often find prospects whose timing isn’t right Nurturing allows us to; Develop the relationship with the prospect Discover their qualifications to buy Maintain “Top of Mind” awareness
  • 22. The Ultimate Event for Small Business Success. Converting a sale is like building a jigsaw puzzle Every sale consists of the “pieces” Understanding the pieces drives focus Great nurturing includes discovering puzzle pieces Automated Drip Campaigns Regular conversations Nurture & Qualify
  • 23. The Ultimate Event for Small Business Success. The Puzzle Pieces for all sales conversion Nurture & Qualify Critical Recognized Specific Wherewithal Leadership Credibility Suitable Advantage Timeliness
  • 24. The Ultimate Event for Small Business Success. • Critical = Motivation to buy • Recognized = They know it • Specific = Buyer belief in Return over Investment • Wherewithal = Buyer side resources to advance • Leadership = Choice and intention to act • Credibility = Buyer belief in our capability Nurture & Qualify
  • 25. The Ultimate Event for Small Business Success. Suitable = Our offering resolves Motivation To Buy Advantage = Differentiators over competition (including choice to do nothing at all) Timeliness = Our decision to continue or stop Nurture & Qualify Critical Recognized Specific Wherewithal Leadership Credibility Suitable Advantage Timeliness
  • 26. The Ultimate Event for Small Business Success. 20% Initial Connectio n Attract brings you here 20 – 80% Qualify / Nurture Resolves Timing Closes sale 80 – 100% Closing Mechanics Starts Implement Nurture & Qualify
  • 27. The Ultimate Event for Small Business Success. Making it all work That all sounds nice, now how?
  • 28. The Ultimate Event for Small Business Success. R O I WIIFM Risk T C I Curren t? Ideal? Delta? Putting it all Together
  • 29. The Ultimate Event for Small Business Success. Putting it all together on the Attract side Trust makes it safe to do business with you Comes from giving them permission to say no Allows proper consideration of your value in live conversations Credibility proves capability to deliver References happy customers Success stories and testimonials help Reduces buyers perception of risk Putting it all Together
  • 30. The Ultimate Event for Small Business Success. Putting it all together on the Attract side Interest offers what you have that they need Their need pulls them into relationship Your value proposition based on your offerings Irrespective of live or electronic Must be engaging or desirable to them Includes call to action for next step Putting it all Together
  • 31. The Ultimate Event for Small Business Success. Example: Infusionsoft Web Advertisement Trust (Your choice to see the video or not) Credibility (Reference others) Interest (Value Proposition) Putting it all Together By clicking on the ad, you are choosing to learn more instantly proving your value as a prospect. The link takes you to… A web form. Go figure.
  • 32. The Ultimate Event for Small Business Success. Example: Infusionsoft Web AdvertisementTrust (Web form, you choose value or not) Credibility (Reference others) Interest (Value Proposition) Putting it all Together
  • 33. The Ultimate Event for Small Business Success. Putting it all together on the Conversion or “Sell” Side Current is asking the prospect what is happening now Ideal asks the prospect what they want or want to avoid Delta asks them to measure the difference between Putting it all Together
  • 34. The Ultimate Event for Small Business Success. Putting all together on the Conversion or “Sell” Side Measuring the difference matters because; It calls to mind the degree of motivation they are feeling Allows them to recognize the motivation they have Brings it all together at one time in the buyers mind Drives the buyer to take action (or if it doesn’t, the buyer likely wasn’t qualified) Putting it all Together Critical Recognized Specific Wherewithal Leadership Credibility Suitable Advantage Timeliness
  • 35. The Ultimate Event for Small Business Success. Presentation Pathway How to run a face to face sales meeting $ $Relation Trust Credibility Interest Issues Timing Yes / No Agenda Moto Mapping Current Ideal Delta Budget Yes No What now Process Who How Presentation Motivation Differentiators Critical Recognized Specific Wherewithal Leadership Credibility Suitable Advantage Timeliness
  • 36. The Ultimate Event for Small Business Success. Key concepts to effective conversion Take your time with Current, Ideal, Delta Most sales people get nervous and rush through this. Listen. No really, listen, when they answer Sales people fail here more than anywhere else Not the time to think about your next words Done right, builds powerful trust excluding competitors Next question should be based on what they Putting it all Together
  • 37. The Ultimate Event for Small Business Success. Exercise, Listen, Really listen. Putting it all Together
  • 38. The Ultimate Event for Small Business Success. Questions? Free Resources for this presentation at www.RevenueKinetics.com Putting it all Together
  • 39. The Ultimate Event for Small Business Success. ICON14 The Selling Moment! Getting there with dignity, integrity and ease Michael D Goodman President, Revenue Kinetics, LLC @goodmansales