People object about your price? Increase the perceived value – Jack Daly part 2

Not all sales people have great results. Instead of letting them use their own system, or no system, we need to make sure that they use the system and processes of your best sales people.

Model the masters.

January 22nd, Jack Daly inspired 220 attendees about sales. A day filled with new insights and reminders of things we already know but seem to have forgotten.

Part 1 of this great day, is here Troubles with your sales? Get better in sales with Jack Daly – Part 1.

In this post we’ll continue with the program of the afternoon of this sales master class.

One of the moments where we did a role exercise, with a client, sales person and observer:
Jack Daly - master class sales

Grow the business

Jack started of with the 5 foundational laws for self-renewal:

  1. The law of Self Discipline – this has a lot to do with time management. Success comes from doing it, when we should be doing it, whether we want to or not.
  2. The law of Responsibility – You are responsible for the outcomes you experience.
  3. The law of Attraction – If you really believe you can, you will create the circumstances to do.
  4. The law of Expectations – Your life is a direct result of your expectations for it.
  5. The law of Belief – A belief provides direction in life, whether it is reality or not. Raise the bar!

“Selling is the transfer of trust”

Focus:

  • People do business with people they trust, and
  • they get to trust the people they get to know…, and
  • they get to know the people they SEE more frequently

Turn customers in clients. The best sales people have lots of contact with few people that bring in most of the sales.

Perception of value

One of the most important insights for me on this day was about perceived value.
I came to the conclusion that I need to increase the perceived value of myself and my products.

What perception of value are you creating in your market place such that people will go out of their way and/or pay a premium to do business with you?

Some examples of companies that create a higher perceived value:

  • Tiffany’s – this is a destination store. People drive to a Tiffany store. (What is your Tiffany’s?)
  • Starbucks – it’s more than coffee for most people.
  • Apple – you can buy 3 notebooks for 1 Macbook. According to many it is the toughest economy and Apple is able to charge 3-4 the regular price. How can you do that?
  • Rolex.
  • Harley Davidson – General Motors has to sell 7 cars to make the same profit compared to 1 Harley.

Create enough perceived value and the price is no longer important.

What can you do to increase the perceived value?
Extreme service (Zappos), high quality, packaging, website, brand, trained staff. You have to be and look better than the market.

Use the internet and social media

When you are visiting a potential client and you have to ask them what they do, you are already one step behind. Do your homework before you step into the clients office.

What to do before you visit the prospect:

  1. Visit the website.
  2. Get 5-6 questions and observations from the website
  3. Look for words and phrases that you see throughout the website (SEO – keywords)
  4. Enter these phrases in the search engines and find competitor websites.
  5. Get 5-6 questions and observations from the competitor’s website.
  6. Now call the client.

The person that is asking the questions is in control. Ask questions and listen.

You have some information on the company and their competitors. Now it is time to dig deeper. Get personal and do your homework on your contactperson.

  • Friend the 40 key influencers in your industry.
  • Connect with your contactperson on LinkedIn and Facebook.
  • Be active on 2 industry groups in LinkedIn. Ask questions and answer questions. Don’t promote!
  • Start a blog as a sales person and attract your target client.
  • Create a customer profile sheet for each client. Enter this information in the CRM system.
  • By making sure that the sales people enter these details in the CRM you are future proof.

A potential client needs up to 9 touch points before they know you. Most sales people stop at 5-6 touch points. The touches should be about the client. You need to know them to do this.

Do you want grow your business? See fewer people. Target your market!
Once they are a client, get more business. Get many from few instead of few from many. It’s easier.

Your goal: To know the customer and your customer’s business so well that your satisfaction of needs is perceived by your customer as professional counseling, not selling.

Best sales people are canned

Create a success guide for your sales people. It includes:

  • Why me? – the company’s standard answer
  • Why my company? – the company’s standard answer
  • Features and benefits of each product.
  • Objections guide.
  • Questions guide.
  • Success examples.

“Features explain. Benefits excite!”

The objections guide has standard answers for the obvious objections.
Write down the 5-10 objections in your business.
Get the best 2 responses for these objections from your sales people.
Time for role practice with the sales people. Throw up the objections and let the sales person respond.

The questions guide has the basic questions that every sales person needs to ask the client. It includes in order of the conversation:

  1. Rapport building questions. Create a friendly environment, use the information you already know.
  2. Decision making questions. Is he/she the only person responsible for this purchase decision?
  3. Pain questions. How is the current product not solving the problem.
  4. Fear questions. What happens when the problem is not solved.
  5. Desire questions. What do they want to happen.
  6. Deficit questions.

2 more book tips by Jack

The Platinum Rule – Tony Alessandra

Creating Competitive Advantage: Give Customers a Reason to Choose You Over Your Competitors by Jaynie L. Smith

A contract with myself

All the time during the day Jack made sure we wrote down actions on page 42 of the workbook. At the end of the master class we had to pick 3 action points that you were going to do in the next 30 days.

The 3 actions I choose for the next 30 days:

  1. Write down the priorities for the next day – 1 hour before going to bed.
  2. Add weekly financial numbers to my plan.
  3. Add personal information and personal styles to the contact management system.

My bigest action for 2014: Increase the perceived value of myself and my products.

What are your actions for the next 30 days?
Were you at the Master Class Sales with Jack Daly?
What did you write down as your top 3 actions for the next 30 days?

Please share these below. This will make you feel more accountable.

Bewaren

ScaleUp Company