Sales and marketing Newsletter

GREG’S RIGHT FIT NEWSLETTER #138
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Quick notes to help you get more sales and marketing done in less time. . . next week.

In this issue:

– Techniques for FIT
– Being Human
– Random Stuff

Techniques for FIT
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  • Mix emotion with logic when talking to prospects. A healthy combination is 1 parts emotion to 2 parts logic, because while logic supports a good decision, it’s emotion that creates action.
  • Every business has things they measure. You need to recognize them when they’re offered, and probe for them when they’re not.
  • Proposals are supposed to help prospects determine Return on Investment (ROI). It’s a problem when the only numbers in the proposal are on the last page, the Investment. And everyone knows, an investment without a return is a cost, and the cost is always too high.
  • Uncover their pain, says one coach. No, it’s best to talk about gain, says another. How about letting the prospect guide you? Until you know which direction they want to go, use the work issues. “What are the main issues. . .?”

 

Being Human – Just tell me how much.
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Early requests for pricing

I re-read an article I wrote for Canvas magazine (https://issuu.com/thecanvasmagazine/docs/canvas-aug18_final.v2/36) because I wanted to hand it to a small sales team that is frustrated with prospects asking for price way too early in the process. You’ve heard me say that early requests are usually “ballpark” questions and not a negotiation. In this case, the sales team needed more than a concept to hold on to. Unfortunately, the article is mostly concept.

So here is the language sequence to use when they ask for price early (which is usually a “ballpark budget” question, not an objection or negotiation). Lock the sequence into your firmware, but make the language your own.

The prospect asks some version of “How much?” and your initial answer of I don’t know/it depends/I need more information before I can tell you doesn’t move the conversation, then move to this:

Deep breath . . .(pause)
1. Ok, I don’t know exactly what a solution will cost you. . .
2. and I hate to even put out a range because you’ll remember the low and I’ll remember the high. . but, (pause)
3. if you were to twist my arm/back me into a corner/hold a gun to my head, I’d say something like . . .
4. other companies, similar to yours, looking for [insert the outcomes you provide], have invested somewhere between $100K and $150K* to get those business outcomes,
(let it sit for a second. . .)
5. Does that sound like it’s in the ballpark/what you’re thinking/answer your question?

* The key to #4 is that the range needs to within 33-50% of the actual cost. If you say it could be $50K and it ends up being $200K, that doesn’t help.

Using this sequence will result in one of two responses. One is “oh my! that’s way more than I thought!” and the other is “sounds about right.” For the first response, say “ok, let’s talk about it” because you need to dive in and find out if it’s a deal killer, a logistics question, or a value problem. As for the second response, “sounds about right,” you say, “Good. Let me start by asking more questions about your company and situation,” and get rightback to where you were.

The funny thing about the early price question is your prospect and you are after the same thing. Both of you are trying not spend time on something that won’t be a fit.

Using this sequence will help you answer their question and invest your time wisely.

 

Random Stuff
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Alexa, how does this thing work?

I dropped the youngest off at school last weekend. It was fun, stressful, emotional, and sad. Will he make friends? Will he be intellectually stimulated? Will he successfully navigate weird situations? Lots of things running through my head. I hate to even think about what went through my wife’s overactive brain.

While sitting in his little dorm room waiting for the bed loft guys to show up, I notice an Amazon Echo Dot sitting there. It’s branded with his school logo and colors, and comes with a nice instruction sheet on how to use it internally, like “What time does the library close tonight?” (sure, I say to myself. . .maybe if the library is a bar)

Seeing it reminds me of the times my neighbor, my parents, and other relatives have tried to teach me how it works. Each time, one person in the room will bark out, “Alexa!” and the poor little device will rise from its uneasy slumber, blink its blue colored lights, and await instructions. The rest of the room is never quiet, so poor Alexa can’t seem to hear these important instructions, and it guesses wrong. That makes the demonstrator frustrated, so they raise their voice, which causes the rest of the people in the room to speak louder, and tension builds.

Eventually, everyone has to “shut up” so Alexa can do her tricks. (by the way, I’m easily 0 for 6 on Jeopardy) It’s fun, but it makes me wonder who is training who here? How will this little device in my son’s dorm room continue to re-wire his brain?

The men show up and loft the bed, Mom and son do a silent tug of war as to where the dirty laundry basket will go, and the room looks great.

“Need a trip to Target or anything?” I say, grasping at straws.

“Nope.”

“I guess it’s time to go then.”

“Yep.”

 

Booking Calendar

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If you need to set up a time to visit, follow this link:
https://calendly.com/chamberspivot/

 


Also published on Medium.