Category Archives for Pricing

TSE Blog 026: How Small Businesses Benefit From Sales Quote Software

You’re probably always looking for ways to expand and grow your business.

If you’re a smaller company, that can be especially hard when you’re working to seem bigger than you are. But you can’t get bigger without competing against others in marketing efforts. So how do you accomplish that?

You enable yourself to put together quotes that are accurate and efficient as well as on par with the big guns. You implement useful software called sales quote software, or a configure, price, quote solution (CPQ).

This kind of solution enables you to quote faster and to use templated approaches, which are easily readable for customers.

This graphic explains what that looks like and what you need to know.

Click To Enlarge


How Sales Quote Software Helps Small Businesses Compete

Via Salesforce

 

Danny Wong is the co-founder of Blank Label, an award-winning luxury menswear company. He is also a digital marketing consultant and freelance writer. To connect, tweet him @dannywong1190 or message him on LinkedIn.

Sales Process, The Sales Evangelist, Erin Pheil

TSE 1163: How Leaders Sabotage The Sales Process

Sales Process, The Sales Evangelist, Erin PheilSales leaders sometimes make mistakes that compromise deals, so understanding how leaders sabotage the sale process can help us avoid the same mistake. 

Erin Pheil is the founder of The MindFix Group, a company that specializes in helping entrepreneurs, high-achievers, and high-performers eliminate their biggest mental roadblocks that hold them back and keep them from achieving what they’re capable of. 

Head trash

Some sales leaders have very specific definitions of what a sales leader is. For Erin, anybody who is in charge of guiding the people in making the right decisions and who is doing sales for a company is considered a sales leader

Many sellers read books and work with experts to improve their skills in sales. They keep learning, and then they show up on calls. They often show up to these calls prepared, but also with head trash. They’re showing bits and pieces of their old mental programming and outdated beliefs that aren’t helpful in closing deals. They go to the calls and they try to combine new knowledge and strategies that their coaches have taught them with their old beliefs. 

When things go wrong, they don’t blame themselves. They blame the technique and the process, or even the people they hired. They don’t look at their head trash and suspect that they might be the ones sabotaging the process. 

Blaming the process, techniques, and tactics instead of examining how they’re screwing things up sabotages the sales process. 

Accepting blame

It takes courage to accept blame because it’s human nature to blame somebody else. It takes courage to stop, pause, and hold a mirror to yourself and ask how you’re contributing to the challenges that you’re experiencing. It’s much easier to project outward and place the blame.  

Head trash commonly appears as the need for approval or the need to be liked. Sellers will show up to a sales call and, instead of focusing on guiding the prospect towards the right decision, they operate from an underlying need to be liked. This goes beyond having a bond and rapport. It’s more of wanting to be approved. A person with that need often sabotages calls just to be liked. 

They get nervous, they make concessions, and they apologize, which shifts the whole frame of conversation. Being liked becomes the more important outcome. 

Self-doubt 

Money block and old programming from a salesperson’s childhood also have a negative impact on sales calls. 

For example, a client raised to believe that she isn’t supposed to talk about money in the household where degree and certificates are the next big things had a huge block in her sales process. Since this particular client had no degree, she ended up questioning her ability and wouldn’t bring up the pricing until the last minute, or until the prospect asked for the price. This client had old head trash on the concept of pricing and money so that often the price in her head was different from the price that came out of her mouth. 

Even with constant reminders here and there, she just couldn’t do it. It just wouldn’t come out of her mouth the right way. 

This is what head trash is. You show up with a plan and all the right information, but your old pieces of programming, beliefs, and thoughts sabotage and compromise your ability to make a productive call. 

Figure your patterns 

The first thing to do is to figure your patterns. Knowing your patterns brings awareness to your calls. You must pinpoint where in the process you’re having your patterns of resistance and frustrations. 

Create a list of the areas where you keep repeating some patterns that you know do not serve you. It might be telling the same jokes, doing what you’re not supposed to do, or not talking about the money even though you have to. 

The buyer might think that you’re hiding something or you have some trick up your sleeves. Before you know it, you have already sabotaged your opportunity. The same is true if you keep talking to your client without giving him the time to speak. It scares the prospect off as well. 

Consider a salesperson who can’t even have an intro opportunity because she can’t stop talking. Her problem clearly exists at the beginning of the process. 

This is a perfect example of a pattern of people who can’t stop talking. They don’t listen because it has been ingrained in their minds that they should keep talking so that someone will buy from them. They feel the need to show off and prove their expertise in order to be respected. 

Changing patterns

After listing the patterns that you observe, ask yourself, “What would I have to believe to be true in order to keep acting this way?

What we believe determines how we act. 

If you believe that talking about money is wrong, then you’ll probably act in ways in accordance with that belief. A lot of these beliefs are in the back of our heads and most of us might not believe them to be true. But even if a tiny part of us holds true to that belief, then we’ll act according to those beliefs. 

What you get from asking that question for each pattern is a list of old pieces of head trash, programming, and beliefs that you’re still carrying around that are sabotaging your sales process. 

Set aside time to implement the two things mentioned here. First, identify the patterns and second, come up with a list of what you’d have to believe to be true. This will open your mind and make you see things that you didn’t realize are impacting your close rate and your success as a sales leader. 

“How Leaders Sabotage the Sale Process” episode resource

Learn more from Erin and visit her website mindfixgroup.com. Check the hour-long training video that explains how your head trash is impacting your actions and behaviors and causing you to sabotage things. There are also case studies and stories of real people who have overcome their challenges. 

If you’re a sales rep looking to hone your craft and learn from the top 1% of sellers, make plans to attend the Sales Success Summit in Austin, Tx, October 14-15. Scheduled on a Monday and Tuesday to limit the impact to the sales week, the Sales Success Summit connects sellers with top-level performers who have appeared on the podcast. Visit Top1Summit.com to learn more and register! 

This episode is brought to you in part by TSE Certified Sales Training Program. It’s a tool for salespeople and sales leaders to help them improve their skills and abilities in finding the right customers, creating strategies that work, and asking the right questions to close powerful deals. You can go to The Sales Evangelist and see the first two modules for free. 

This episode is brought to you in part by Audible, the awesome library with thousands of books. Try it now to get a 30-day free trial and a free book. Goo to audibletrial.com/tse

If you find this episode helpful, give us a ravishing review and rating on Apple podcast. We are also on Google Podcast, Stitcher, Spotify

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Chris Perry, Sandler Training, Price War, The Sales Evangelist

TSE 1121: Your Price Is Right: How to Stand Your Ground Against the Lowest Bidders and Protect Your Margins

Chris Perry, Sandler Training, Price War, The Sales EvangelistWe’ve all encountered price wars against the lowest bidder, but today we’re going to talk about how you can stand your ground, protect your margins, and earn the price that you’re worth and how that will help you grow your business.

Chris Perry works with Market Sense, a Sandler Training franchise, that helps business attract, assess, hire, and onboard world-class salespeople.

Great ideas

There are lots of great ideas in the world. Many businesses have built things that they are excited about and proud of, and eventually, others notice that they are making a lot of money doing it. So they jump into the game.

Suddenly options exist where they didn’t before, and consumers, whether they are B2B or B2C, don’t know how to differentiate between them. Many of them fall back to the cheapest option.

If we fall into that trap, the buying process becomes all about price, and we’re forced to trade dollars for deals. We must cut our prices, and that’s a slippery slope. It’s also a great way to go out of business.

Consumers will treat you like a commodity if you allow them to.

Money mindset

Attitude makes a big difference in this scenario because the salesperson’s mindset plays a huge part in the price. Human beings are trained to seek deals and discounts. Chris’ company runs a lot of assessments on salespeople and they’ve discovered a lot of what they call money tolerance issues.

We all grow up with different relationships to money, with some of us believing it’s rude to talk about it. Others are taught to pinch every penny, while still others believe there is always more money available. Whether it’s conscious or not, we have a bunch of recordings playing in our heads. Those recordings impact our money conversations.

If, for example, a seller grows up believing it’s rude to discuss money, he’ll be less comfortable talking about it. He’ll likely wait until the last possible moment to address cost, because he assumes the prospects are uncomfortable talking about it, too. Waiting until the presentation to discuss price can be a recipe for disaster for sellers.

Sellers who believe that $500 is a huge purchasing decision, but who are selling $50,000 solutions, will be nervous about the price discussion. They’ll sweat a little extra, and the prospects will see that anxiety and they’ll assume the seller doesn’t believe in the product. They might also perceive that there’s room to negotiate the price.

Recognizing value

The key is to change the way you perceive your value so you don’t undersell yourself or your product. If you do, you’ve already lost before you even get started. You must believe in yourself and your product.

The truth is that it’s hard to change someone’s mindset. People won’t generally understand their worth simply by listening to a podcast, no matter how good it is. Chris recommends that you begin by acknowledging your mindset. Figure out which relationship you have with money and then leave it in the car.

When you go on a sales call, your relationship with money shouldn’t matter. Focus instead on the prospect and figure out her relationship with money. That’s the conversation that matters.

Behaviors

There are many aspects to behavior: having a goal, developing a plan to accomplish the goal, and establishing activities that get you to those goals. But with regard to budget discussions, we must be more consistent in knowing when and where to discuss pricing.

We’re typically mentioning it too early before we’ve helped the prospects understand the value, or too late when they’ve already got some idea of what they should be paying. Many sellers are winging this aspect of their sales process.

Have a plan. Develop milestones for your sales process. Have an idea of things you have to check off before you move to the next step. If you could establish just a bit of organization, if you could figure out the key steps in your sales process, you could map it out and figure out where the budget discussion should fall.

Then stick to your guns. Don’t allow the prospect to pull you into a discussion you aren’t ready to have yet. Many people routinely argue that the prospect is always right, so we must follow where they lead. Your role is to help your prospect, so you have to explain that it’s irresponsible to sell something or provide a quote without understanding what he needs.

Sales conversations

In a world where prospects see all alternatives as basically the same, with price as the only differentiator, the one thing that remains within our control is how we sell. Our sales conversations make a huge difference. If we’re doing like many reps and choosing the “showing up and throwing up,” option, dumping features and benefits and then giving a price, we’re missing an opportunity.

Differentiate by slowing down and asking good questions. When the prospect asks for a price, push back a bit in a compassionate, professional way. Ensure that you want to make sure you’re both a fit before moving forward to price. The prospect will appreciate your effort to understand his world.

Pricing objections

In a scenario where you aren’t the cheapest option, what should you do? This is likely where most sellers could use a little help. We know our product or service but we don’t know the prospect’s world. But the prospect is evaluating us on how we fit into their world.

In that sense, the prospect is best equipped to resolve those objections. We have to ask the right questions to get to that discussion.

So once we’ve run our sales conversation, asked the right questions, sought to understand the prospect’s world, and talked a little bit about budget, it’s important to acknowledge the issue of price.

“Hey, Donald, you know, I’ve really appreciated the opportunity to talk with you about your world and how our services might help, but we’ve got a problem. My guess is you’re probably going to be talking to other folks to see how they might help as well. I get it. I’d probably do the same thing. The problem is if you compare us on price, I can almost guarantee we’re going to be the highest bidder. So my question is for you, if you were me, would you still put together a quote?”

If they agree to a quote, ask this: “What do you need to see from someone to compel you to pay a premium?” Now we’re figuring out what the prospect needs to see to make it worth paying more. Chances are the prospect hasn’t thought about this before, so now he’s selling himself on value.

If the prospect says no to a quote, then you can acknowledge that perhaps you aren’t a fit, but you can still ask what the prospect would need to see in order to make a decision based upon something other than price.

Continuing the conversation

Now, whatever the prospect says, you’re continuing the conversation. If they need on-time deliveries or fantastic customer service, you can continue the discussion. You’ll move from being an order-taker to a problem solver. You’ll also sound confident in your discussion because you aren’t desperate.

These things won’t work if you don’t believe in your product or if your pipeline is anemic. Having a full pipeline cures most ailments. If you don’t absolutely need this deal, your technique can be a lot stronger.

Don’t try to do this on the fly. Sit with your manager or someone on your team and practice this stuff. Practice fielding tough questions. Practice handling pricing objections. Then practice handling conversations where the prospect immediately asks about the price. If you do, when you find yourself in these scenarios, it’s second-nature rather than something you fumble through.

“Protect Your Margins” episode resources

Sandler Trainers are worldwide, so you can always look for a local office to help you. If you’re in Austin, connect with Chris at their website, ms.sandler.com. You can also connect with him on LinkedIn to see the videos and articles he shares there.

If you haven’t connected with me on LinkedIn already, do that at Donald C. Kelly and watch the things I’m sharing there.

You’ve heard us talk about the TSE Certified Sales Training Program, and we’re offering the first module free as a gift to you. Preview it. Check it out. If it makes sense for you to join, you can be part of our upcoming semester. You can take it on your own or as part of the semester group.

If you and your team are interested in learning more, we’d love to have you join us. Call (561) 578-1729 to speak directly to me or one of our team members about the program.

This episode is also brought to you in part by mailtag.io, a Chrome browser extension for Gmail that allows you to track and schedule your emails. You’ll receive real-time alerts anyone opens an email or clicks a link.

Take advantage of a 30-day free trial, including a free book of your choice, at audible.com/tse.

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I truly appreciate you and appreciate your reviews and your subscription, and your willingness to tell your friends and anyone you know that’s in sales about the podcast.

Audio provided by Free SFX and Bensound.

 

greatness in the face of adversity, Weldon Long, objections, The Sales Evangelist

TSE 1093: How to Achieve Personal and Professional Greatness in the Face of Adversity

 

greatness in the face of adversity, Weldon Long, objections, The Sales Evangelist

Even if we have the right process or the best mindset, every seller is going to encounter difficulties, so we must figure out how we’ll stick to our mission and achieve greatness in the face of adversity.

Weldon Long has plenty of personal experience dealing with adversity in the form of 13 years in the penitentiary, homelessness, and dropping out of high school. He had what he calls a dysfunctional life, but he learned the ability to thrive in the face of difficulty.

Difficulties are coming

The truth is that difficulties are coming. It’s easy in personal life or in sales life to feel overwhelmed and tempted to wave the white flag of surrender.

Weldon was in federal prison when his dad died. He got a note to call home from one of the prison guards. He remembers realizing that his dad died with him in prison again.

He had a three-year-old son that he fathered while he was out on parole. He realized that he wasn’t being a very good father or son.

He made the decision to change the course of his life but he had no idea where to start. He still had seven years left in prison, so he started reading.

Copy successful people

His master plan was to figure out what successful people were doing and copy that. Seven years later, he walked out of prison and lived in a homeless shelter at 39 years old.

He learned how to sell reading books and he started knocking on doors looking for a sales job. It took about six months to find a job because he was a convicted felon living in a homeless shelter.

He got a job selling air conditioners and had a great first year. The next year, he used his earnings to open his own air conditioning company. Though he knew nothing about air conditioning, he knew how to sell air conditioners.

He hired the operations people and grew the company to $20 million in five years. In 2009, his company was selected as one of America’s fastest growing privately held companies.

His life has been a study in overcoming adversity, and the lessons are useful for anyone because everyone will eventually face challenges. Learning to face them is the key to achieving greatness in the face of adversity.

Sales process

Weldon points to the sales process as the secret to building a successful business.

The prospects are 100 percent in control of the result. They get to decide whether they will write us a check or not. The sellers are 100 percent in control of the process. Far too many sales professionals focus on the outcome rather than focusing on what they actually control, which is the process.

Weldon quickly learned all the difficulties of selling and he said he was amazed by the number of honest people who would promise to call him to follow up but who never did.

Buyers will say one thing and do something else, perhaps largely because they fear getting ripped off or misled. They put a lot of protective mechanisms in place.

Sales hallway

In his book Consistency Selling, Weldon introduces a concept he calls the sales hallway. He and the prospect are at the beginning of the hallway together. At the other end of the hallway is the door he’s hoping to get the prospect through.

As they walk together, the prospects have a lot of questions about products, services, and guarantees. Most importantly, prospects have questions about price.

When they have all the information, they tend to want to postpone the decision. They try to leave little trap doors or escape routes along the hallway.

  • “I’ll think about it.” 
  • “I’ll call you next Tuesday.”
  • “You’re too expensive.”

When Weldon learned to address those obstacles before they came up, it was the turning point in his sales career.

Influence and persuasion

Weldon read an article by Robert Cialdini, author of the book Influence. It was all about the consistency principle, which says that public declarations dictate future actions. The idea is that if you can get someone to make a public declaration, he becomes more likely to take actions that are consistent with that statement.

He determined which objections he was facing most often, and he structured his conversation so that the prospect didn’t struggle with those fears. When he did that, he found way less resistance at the end of the sales process.

When he started selling, it was “kitchen-table selling.” It was residential air conditioning to families who were mad that they were having to spend the money. He was on their turf and they had other bids that were half his price. Weldon learned to prosper in that situation.

Price objection

How do I deal with price objection?

The problem is that most people don’t bring up price until the prospect does at the end of the process. Once the prospect brings it up, he’s in a super defensive posture. They know you’re going to try to sell them on why you’re worth the extra price.

The heartbeat of his whole process is addressing those concerns. When he helped Farmer’s Insurance address the price objection, he recommended looking on the Internet for considerations when purchasing insurance. He found a thousand different articles that all said that price isn’t the most important consideration.

Now when he’s sitting with a prospect, he’ll address the fact that price is a valuable consideration when purchasing insurance. But then he’ll ask the prospect whether he agrees or disagrees with the fact that there are other considerations that are equally as important as price.

Public declaration

Weldon shared the example of a company that canvassed a neighborhood by telephone to find out whether residents believed it was important to fund research for childhood disabilities. The following week, when the canvassers came to actually collect money, the donations doubled because the people had previously made a public declaration that it was important.

Weldon realized that if he could get his customers to acknowledge that price isn’t the most important, and if he could get his customers to declare publicly that they would call him tonight with an answer, he was less likely to struggle against those objections.

Sellers tend to focus on the door at the end of the hallway and they try to close. The key is to prepare yourself as you’re moving through the hallway.

The way to help the prospect get back into resonance is to take action consistent with the words you said earlier.

Improving numbers

There are those who will point out that this approach won’t work every time, and that’s true.

But if you’re closing four out of 10, my job is to show you how to get one or two out of the six you’re losing. You’re already getting the four. I’m going to help you get better margins.

Everyone loves the idea of making twice as much money but no one wants to work twice as many hours. The key is to increase your productivity with your raw materials. Your raw materials are time and leads. How do you produce more output with the materials you have?

Anticipate the objections

If you’re selling air conditioners, it shouldn’t surprise you to hear that your price is too high. You should anticipate that objection. Lay the groundwork so you can have the right conversation.

By the time you get to close, the time for debate and argument is over. Your only hope is to remind them what they said earlier about price.

If I say the price isn’t the most important consideration, I’m a salesman. If they say it, it must be true.

Create the prosperity mindset to prosper before you face adversity. Get clear on what you want so you can achieve greatness in the face of adversity.

Remember the FEAR acronym.

  • Focus
  • Emotional commitment
  • Action
  • Responsibility

Build a plan that anticipates objections and create a sales process that addresses those objections.

“Greatness In the Face of Adversity” episode resources

If you text the word “Videos” to 96000, you’ll receive free content about how to create the prosperity mindset and how to deal with objections in the sales hallway.

Grab copies of Weldon’s books:

If you haven’t connected with me on LinkedIn already, do that at Donald C. Kelly and watch the things I’m sharing there.

You’ve heard us talk about the TSE Certified Sales Training Program, and we’re offering the first module free as a gift to you. Preview it. Check it out. If it makes sense for you to join, you can be part of our upcoming semester.

You can take it on your own or as part of the semester group. The program includes 65 videos altogether, and we just completed a beta group that helped us improve the program and maximize the information in it.

If you and your team are interested in learning more, we’d love to have you join us. Call (561)578-1729 to speak directly to me or one of our team members about the program.

This episode is also brought to you in part by mailtag.io, a Chrome browser extension for Gmail that allows you to track and schedule your emails. You’ll receive real-time alerts anyone opens an email or clicks a link.

I hope you enjoyed the show today as much as I did. If so, please consider leaving us a rating on Apple Podcast, Google Podcast, Stitcher, or wherever you consume this content and share it with someone else who might benefit from our message. It helps others find our message and improves our visibility.

Audio provided by Free SFX and Bensound.

 

Dion Travagliante, Value, Sales Rep, Donald Kelly

TSE 1083: 3 Crucial Signs You Need to Add More Value

Dion Travagliante, Value, Sales Rep, Donald KellySometimes as sales reps we don’t bring enough value to the table and there are 3 crucial signs you need to add more value so you won’t be judged only on price.

Dion Travagliante runs Madison One Consulting, a consulting practice where he solves problems for SAS businesses. He said he loves the fact that sellers have latitude in their careers and he loves the chase of finding the potential customer and then uncovering the issue and working to solve it.

People have a preconceived notion that sales is just talking with no science, rhyme, or reason behind it, but he calls it a challenging world that you can train yourself to succeed in.

Commodity

Sellers often struggle to stand out against other competitors and they struggle against being viewed as simply a commodity. The key is to become the winner of the account.

Dion defines value as improvement in a client or prospect’s individual situation. That centers on solving problems. Any company that is selling something originated around the idea of solving someone else’s problem.

That means as a sales rep, you’re a steward of your company’s solution in the marketplace. That should free you to talk to anyone about the challenges they are facing.

Flip the script. There will always be people who perceive salespeople as slick operators who try to jam products down people’s throats. No one wants to have that persona.

Instead, approach every customer as someone with a pain point whose problem you’d like to solve. If you do, you’ll be better than 95 percent of the sellers out there because you’ll be thinking about someone else.

Watch for these 3 crucial signs you need to add more value.

1. Negotiating price

When you’re talking with a prospect and they start negotiating price during the sales cycle. Do not go down the rabbit hole of arguing price.

The worst position you can be in as a sales rep is negotiating against yourself. If the prospect wants to lower the price, it becomes a game of limbo: how low can you go? Instead of just acquiescing, you want to push back on that. They are telling you that they don’t see the inherent value in the price you’ve determined for your product.

You can never negotiate against your own price, but you can flip the script.

If, for example, a single client averages $60,000 and your product costs $20,000, the purchase pays for itself three times over. If your product can speed up the process, the relevant issue is how much money they’ll derive from using your solution.

If the person you’re dealing with is an intermediary and they insist on dropping the price, what they are saying is that they don’t feel confident taking this solution at this price point to the decision makers.

The quicker path is to lower the price. Instead, arm them with more things so they look like the hero when they show up to present it.

2. Seeking referrals

When your prospect asks you for a referral, what he’s really saying is that he’s interested in what you’re selling and he wants to continue down the path, but he wants external validation.

Mike Brooks, who calls himself Mr. Inside Sales, wrote a book called The Ultimate Book of Phone Scripts where he shares 500 scripts that you can use to address objections. He suggests acknowledging that you’d be happy to connect the customer with a host of satisfied customers but then asking what sticking points still exist.

They want someone else to verify that they should buy this because we’re all somewhat tribal in nature. Get out in front of it.

Your own self-limiting beliefs can prompt you to negotiate with a client instead of seeking to provide enough value to get them across the finish line.

Practice saying that phrase so that it becomes second-nature. Because 90 percent of decisions are made with the subconscious mind, you should train your mind to respond this way automatically.

Courage isn’t the absence of anxiety or fear; it’s acting in spite of it. The people who improve are those that put themselves in uncomfortable scenarios. Human beings learn by pain.

3. Status quo

When you’ve done the discovery call and you’re in the demo and the prospect says, “You know, I think we’re going to stay with our current solution,” that’s an indicator that you haven’t provided enough value. The prospect is telling you that it seems like a lot of work to transition to your option, so they are going to stay where they are.

They are telling you that you haven’t exhibited enough value to drive them to switch. Sales decisions are made emotionally and then justified logically.

Todd Caponi, in his book The Transparency Sale, talks about the psychology of sales and the fact that if your customer’s logic is preventing them from closing the deal, you need to stoke some emotional flames.

You must provide enough value to make switching worthwhile.

Best sales reps

The best sales reps try new things. They put themselves into difficult scenarios that allow them to learn. They also end up selling more.

Always think about the prospects and their solutions. Get out of your own way and help your prospect solve a problem and better his solution.

Ask pointed questions. Figure out the plight. You’ll come off as more genuine than if you toss around buzzwords.

“3 Crucial Signs You Need to Add More Value” episode resources

You can connect with Dion at madisononeinc.com and you can email him at dion@madisononeinc.com.

Grab a copy of the two books Dion recommended: The Ultimate Book of Phone Scripts by Mike Brooks and The Transparency Sale by Todd Caponi.

You’ve heard us talk about the TSE Certified Sales Training Program, and we’re offering the first module free as a gift to you. Preview it. Check it out. If it makes sense for you to join, you can be part of our upcoming semester in April.

You can take it on your own or as part of the semester group. The program includes 65 videos altogether, and we just completed a beta group that helped us improve the program and maximize the information in it.

If you and your team are interested in learning more, we’d love to have you join us. Call (561)578-1729 to speak directly to me or one of our team members about the program.

This episode is also brought to you in part by mailtag.io, a Chrome browser extension for Gmail that allows you to track and schedule your emails. You’ll receive real-time alerts anyone opens an email or clicks a link.

I hope you enjoyed the show today as much as I did. If so, please consider leaving us a rating on Apple Podcast, Google Podcast, Stitcher, or wherever you consume this content and share it with someone else who might benefit from our message. It helps others find our message and improves our visibility.

Audio provided by Free SFX and Bensound.

Talking About Price, Selling, Donald Kelly

TSE 1075: TSE Certified Sales Training Program – “When Should I Talk About Price?”

Talking About Price, Selling, Donald Kelly

The trend in sales now is to provide value to your customers, but there must be some kind of exchange in the transaction, so you may find yourself asking, “When should I talk about price?”

How do you bring it up? What exactly will you say when it’s time to talk about it?

Today we’re going to share ideas that will help you provide tremendous value and ensure an effective, value-rich conversation for both parties.

This is a segment from our TSE Certified Sales Training Program and we’re going to share a snippet from one of our training programs and then offer some ideas based upon what you hear. It will let you learn something about selling and offer you an experiment that you can test for yourself.

You’ll hear the challenges that other sales reps are facing and share with you what has worked for the group members.

Taboo

We’ve been taught that it’s taboo to talk about money, so many of us shy away from it. New sellers face the biggest challenge, usually because of limiting beliefs.

In the past when I was selling software training classes, I didn’t understand that it was worth $10,000 for customers to earn their certification over a weekend. I didn’t think anyone would be willing to pay it.

I didn’t understand that for their $10,000 expenditure, they were going to see a $20,000 to $30,000 increase in their earnings over the course of a year.

All I knew was that $10,000 was a lot of money. My self-limiting beliefs made me apprehensive, and this is a common problem for new sellers.

You must believe in the product or service you’re offering and the value it provides to your prospects. When you do that, you’ll develop more confidence in your messages, and it won’t matter what the course costs.

Bring up the money

Once you’ve identified a product you believe in, when do you bring up the money? That depends largely on the product or service that you’re selling. If it’s software that costs $30 a month and they won’t commit, they probably weren’t the right fit anyway.

Let them go.

If you’re selling a software solution that you have to customize for the organization, you’re going to need more time. You’ll have to gather more information in order to give them effective pricing.

If the customer can see the prices on your website, they can weed themselves out at the beginning. People who really want to learn more and have more value-rich conversations will engage. In the later conversations, we can discuss what they’ll get for their investment.

Addressing price

We’ll tap into emotion by addressing how our product or service will help them.

  • What will happen if the client doesn’t get coaching?
  • Why do I need coaching right now?
  • What results will I see if I get coaching?

Because people make emotional decisions and then justify those decisions logically, if we build value well, the $1,500 price tag for coaching won’t seem like a big deal. The return on their investment, the ability to provide well for their family, and the possibility that they will advance in their careers will justify the cost.

In the case of a more complex solution, when the customer asks about price, be honest when you tell them that you can’t predict exact numbers right now. If you can’t yet determine all the variables and if you can’t determine the exact infrastructure, explain that to the customer.

Then invest the time to understand the setup and the infrastructure. Find out what challenges the prospect is facing.

Be intentional

It’s possible that the customer is simply fishing, or in other cases that he is simply looking for a ballpark figure. In the latter case, perhaps try giving him a range for other similar clients.

Don’t give the customer your lowest number if you provide a range. If the cheapest you’ve done is $5,000 and the most expensive is $20,000, don’t offer the $5,000 number. Go a little higher.

Instead, offer a higher number, like $8,000 or $10,000. Once they have a number in their minds, you’ll determine whether they are truly serious about moving forward.

Content

In this situation, effective blog posts that describe the return on investment will help your customers gather information. Especially if yours is a complex solution, you’ll help them understand the components involved and what they should be looking for in a vendor.

In the case of sales training, perhaps you’d have different blog posts that describe the different levels of training and the different types of service that you offer.

The prospect can determine what courses are available and what his options are for in-person training, group training, or workshops.

Consider, too, outlining entry-level solutions, mid-tier solutions, and a higher tier. Each solution, based upon the complexity, can solve specific problems.

Research

The prospect can do some research ahead of time and find answers to some of their basic questions. Because this will be an enterprise solution, he’ll have to come to the table prepared to invest money.

At this point, it’s appropriate to talk about budget because you don’t want to begin building presentations or demonstrations if the product or service isn’t a fit. Get an understanding of what kind of investment the prospect is looking to make.

Be up front. Acknowledge that you’d like to know as soon as possible if the prospect determines this isn’t a good fit. Promise to do the same for your prospect.

Ask if the company has already earmarked a budget for this project. Find out if they are planning the project for this year.

Pain

Once you’ve discovered the pain, use that to see if you can move them toward the project right now. Anticipate that they may not be able to do the whole thing right now, but they might do half this quarter and half the next quarter.

Once we have an understanding we can move forward. If you built rapport with this prospect and created communication, it will be easy to discuss finances.

Terminology

New sellers might ask about the proper words to use. Rather than budget or payment, I use the word investment. That’s a given, right?

They are investing in sales training to solve a problem. They are expecting to see a return on the money they spend.

If it’s a new seller who wants to become the best in the company or a female business owner in a male-dominated industry, they are expecting to show some results from their investment. The word payment sounds too transactional.

As you’re having these conversations, understand that you should wait to mention the money after the buyer has a sense of the value you’re offering.

They must see the value before they can comprehend the investment.

“When Should I Talk About Price?” episode resources

Connect with me on LinkedIn or on Instagram and let me know how this worked out for you.

You’ve heard us talk about the TSE Certified Sales Training Program, and we’re offering the first module free as a gift to you. Preview it. Check it out. If it makes sense for you to join, you can be part of our upcoming semester in April.

You can take it on your own or as part of the semester group. The program includes 65 videos altogether, and we just completed a beta group that helped us improve the program and maximize the information in it.

If you and your team are interested in learning more, we’d love to have you join us. Call (561)578-1729 to speak directly to me or one of our team members about the program.

This episode is also brought to you in part by mailtag.io, a Chrome browser extension for Gmail that allows you to track and schedule your emails. You’ll receive real-time alerts anyone opens an email or clicks a link.

I hope you enjoyed the show today as much as I did. If so, please consider leaving us a rating on Apple Podcast, Google Podcast, Stitcher, or wherever you consume this content and share it with someone else who might benefit from our message. It helps others find our message and improves our visibility.

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Donald Kelly, Sales Podcast

TSE 1045: TSE Certified Sales Training Program – “David and Goliath”

Donald Kelly, Sales PodcastSometimes the logical approach doesn’t make sense, just as in the story of David and Goliath it seemed impossible to believe that the shepherd boy could beat the giant.

In sales, we sometimes have to be a bit irrational. We must think outside the box.

Today we’ll discuss how unorthodox thinking can help us take down some pretty significant giants. It can also help us win some pretty decent accounts.

Logical approach

When the giant Goliath demanded that the Israelites send out their best warrior, it didn’t make sense for them to send David. He wasn’t the fastest or the biggest.

He was a little farm guy tending sheep, and he wasn’t the typical warrior type.

Too often in sales we default to the same logical approach that sales reps have been using for years. Instead of thinking outside the box, we choose the most rational solution to the problem.

Imagine you’re selling TVs and you’re meeting with a client that has a good idea of what they need and what they want. It’s possible, though, that the client’s perception of the problem may not even be the real issue. Worse yet, their solution to the problem may not be the best one.

In the case of David and Goliath, if the Israelites had sent the best warrior into battle to try to outperform the giant, the best warrior would likely have been killed.

Unorthodox approach

David used an approach that had never been used before. He used a sling and a stone to take down the giant, and the approach was unexpected.

In the situation with the client and the TV, he may assume that he needs a TV because it has always been the best solution in the past. Perhaps, though, the best solution is a projector, but the client doesn’t realize it’s even a possibility.

What if you forget about the TV for a minute and consider other possibilities: smartphones or tablets, or even podcasts. If the goal is for the client to find a form of entertainment, TV isn’t the only option.

Sales reps who ask the right questions can differentiate themselves. They can challenge the status quo and help the buyer to see us in a different light.

Risky decisions

I was reading a book called Selling to the C-Suite and the author mentioned that executives will often make risky decisions if there’s a clear plan for that decision. Most executives routinely get what they want.

In many cases, their team members fail to offer unique proposals because they are afraid of getting fired.

In this case, an educated seller may propose an option that’s a little riskier than just selling the executive a television. The executive may be so busy running his business that he hasn’t researched TVs or other options.

Your goal should be to inform yourself about the industry, the client, the type of business, and the problem. Come to the table as an expert and offer unique ways to solve the client’s problem.

Memorable actions

David explained to Saul that because he had killed lions and bears in the past, he was equipped to take down a giant. If Saul was seeking a victory that would make the opponents his servants, wouldn’t it be worthwhile to consider David’s proposal?

David accomplished exactly what he said he would, and the result is a story that has survived for thousands of years.

Will your clients remember you and your heroic efforts or will you be just another sale rep? Will you be the one who offered them a cheaper price? Or will you be the one who offered a unique approach that turned the organization around?

Studying industries

Know your client’s industry well. Study it. Understand the business left and right.

Instead of trying to sell to 10 million different industries, focus on the top three or five and master those industries. Become an expert in those niches. Then focus on those people.

That doesn’t mean you won’t sell to those other industries. It simply means that you won’t focus on those industries. Invest your efforts into the industries that will give you the best bang for your buck.

Read industry magazines, and watch YouTube videos. Spend time on activities that will help you become more effective.

When you do, you’ll stand out from the competitors. Because you’ll bring different ideas, different strategies, and different tactics, you’ll earn the respect of your prospects.

Bring resources, examples, and share your past experiences with your prospects. Explain to your clients why they must choose the option you’re offering.

“David and Goliath” episode resources

This episode is brought to you in part by our TSE Certified Sales Training Program, which teaches you to improve your sales skills, find more customers, build stronger value, and close more deals.

The next semester begins in April.

If you’re not familiar with the TSE Certified Sales Training Program, it’s a program designed to help brand new sales reps, as well as those who have been selling forever. The 12-week module offers videos you can watch at your own pace, as well as the option to join a group discussion. It’s broken into three sections: finding, building value, and closing. It’s amazing and it’s fun!

This episode is also brought to you in part by mailtag.io, a Chrome browser extension for Gmail that allows you to track and schedule your emails. It’s super easy, it’s helpful, and I recommend that you try it out.

You’ll receive real-time alerts anyone opens an email or clicks a link.

The episode is also brought to you by prospect.io, a sales automation platform that allows you to send cold emails in a personalized manner. To find out more about how it can help you automate your sales process, go to prospect.io/tse. Your prospecting will never be the same.

I hope you enjoyed the show today as much as I did. If so, please consider leaving us a rating on Apple Podcast, Google Podcast, Stitcher, or wherever you consume this content and share it with someone else who might benefit from our message. It helps others find our message and improves our visibility.

If you haven’t already done so, subscribe to the podcast so you won’t miss a single episode, and share with your friends!

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Ted Ryce, Donald Kelly, Value, Selling

TSE 1039: Sales From The Street – “Sell Value”

Ted Ryce, Donald Kelly, Value, SellingIf you struggle with sales and the challenges that go along with it, you aren’t alone, and today Ted Ryce shares how he overcame his own struggles and how you can overcome sales plateaus.

Ted has been a health and fitness professional for the past 17 years in Miami Beach. He has worked with tons of celebrities, CEOs, multi-million dollar companies and personalities like Richard Branson and Robert Downey, Jr. He now has a health, fitness, and personal development podcast called Legendary Life Podcast.

Ted figured out early on that he actually is a salesperson. Sales never came easy for him and so today, he shares with us the challenges he faced and how he overcame them so you can learn from his experience.

Don’t undersell yourself

Ted poured a lot of effort and resources into the fitness industry, and though it helped, he hit a plateau where he wasn’t getting more clients. For the money he invested, he expected to have a mile-long waiting list.

He was in desperate need of new clients when a guy expressed interest in training with him. Ted saw it as a chance to grow his client list and raise his prices.

Looking back, he realizes that because he didn’t have confidence in his business or his cost, he didn’t justify the cost to his prospect.

Determine your value, and stick to it.

Differentiate yourself

Once you play the price game, everyone loses, including other people in your industry. You have to differentiate yourself and have a reason for charging as much as you do. You must explain it so that the prospect can understand the cost.

Have a reason for charging more, not coming from a place of being awesome but in a way the prospect can understand.

In Ted’s case, he realized there would always be people who would work for less money, so he started to highlight how his training was different.

He offered a holistic approach that included sleep and other physical and health challenges, and he specialized in injuries. He also had a background of working with CEOs, so he marketed himself accordingly.

Sell what the client wants

Don’t sell yourself or what you want to sell. Sell exactly what the client wants.

Ted worked to determine exactly what his clients needed, and then he sold them exactly that instead of selling what he wanted to sell.

He also made peace with the idea that some customers would need something different than what he was selling, so he would be willing to refer them out.

Match what you do with what someone else needs.

Reach more people

Once you’ve narrowed your message, find ways to reach the people who can benefit from your product or service. This is a great way of selling yourself without selling yourself.

Go out there and do more presentations. Do a podcast. Eventually, they will look at you as a leader in your industry.

People will apply the things you’re sharing, and if it helps them succeed, they will view you as a subject-matter expert.
Take things step by step. Stay at it. Take lessons and courses. Listen to podcasts. Stay on course to make consistent improvements. In 3-6 months time, you’re going to see major changes.

Stay consistent, keep at it, and don’t give up.

“Sell Value” episode resources

You can connect with Ted on the Legendary Life Podcast, and check out the Be The Change group.

This episode is brought to you in part by our TSE Certified Sales Training Program, which teaches you to improve your sales skills, find more customers, build stronger value, and close more deals.

The next semester begins in April.

This episode is also brought to you in part by mailtag.io, a Chrome browser extension for Gmail that allows you to track and schedule your emails. It’s super easy, it’s helpful, and I recommend that you try it out.

You’ll receive real-time alerts anyone opens an email or clicks a link.

I hope you enjoyed the show today as much as I did. If so, please consider leaving us a rating on Apple Podcast, Google Podcast, Stitcher, or wherever you consume this content and share it with someone else who might benefit from our message. It helps others find our message and improves our visibility.

If you haven’t already done so, subscribe to the podcast so you won’t miss a single episode, and share with your friends!

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Jonathan Dale, Donald Kelly, The Sales Evangelist, Pricing

TSE 1034: Sales From The Street – “How Low Can You Go?”

Jonathan Dale, Donald Kelly, The Sales Evangelist, PricingSalespeople often adopt a commodity selling mindset instead of a value-based mindset, which leaves them making less money than they could have made. They find themselves asking, “how low can you go?

Jonathan Dale works with RS&I, a nationwide company with nine branches throughout the United States. They have become the largest distributor and sales agent of dish networks. Anyone wanting the ability to resell dish networks must go through RS&I to do so.

They also own HughesNet, one of the largest satellite internet providers.

Jonathan manages the Vivint portfolio. As a sales leader, he teaches sales reps how to keep the sales process simple by breaking it down.

Jonathan has had so many different experiences with both sellers and partners. It brings a whole other level of complexity to his role as a sales leader.

Focus on value

He remembers knocking on doors to sell home security systems for a company called Pinnacle. It is where he learned the ‘Art of the Sale.’ Although he didn’t particularly love it, he admits that he did learn from it.

The following year, after several failures, he fully understood the sales process and realized he was a salesperson. It required taking a step back and looking at sales in a whole new way.

Jonathan believes that salespeople commonly place a stigma on sales, or have a mindset about it, that prevents them from being successful.

It is a mindset that they have to sell based on price.

Jonathan’s biggest struggle when training new reps in the home security industry is teaching them to become more of a value salesperson versus a commodity sales rep.

He wants them to pitch the overall value of the service rather than diluting the service.

Let the customer decide what the spending habits will be.

The opportunity for a sales rep to make the most money is when the customer is comfortable with where he wants to be.  Often times, as sales reps, we want to fit each customer into the same size box.

Yet, at the end of the day, if we try to force that fit, we lose money. Forcing our clients into a package that they do not need only leads to chargebacks.

Don’t compete on price

Jonathan works with over 350 different retailers that take Vivint as a secondary, tertiary, and even fourth line sale. It is a struggle to get them to understand that he doesn’t want them to compete on price.

Instead, he wants them to have a conversation about the value of the service and let the customer decide if the product fits their needs.

Sales reps, however, are prone to touting the price because it seems easier.

Jonathan made an interesting transition two years ago which was actually detrimental for a few months.

He moved from home security sales – a totally valuable sale – to satellite sales which was more of a commodity. He realized he was losing money because he wasn’t committed to the value of the product.

Often times, sales reps want to take the path of least resistance – the easier sale. If you can provide the customer with benefits, instead of simply selling features, you create value in your product. By allowing the customer to then determine his spending habits, your earning potential is maximized.

Don’t lead with your own wallet

When I sold training classes for $10K a class, the most money I had ever had in the bank at one time was $3,000. It made no sense to me. I just couldn’t understand why someone would spend that much money. As a result, it definitely limited my ability to sell.

I needed to realize that my clients would get a huge return on that $10K investment – that there was a value to what I offered.

We don’t know their spending habits or capabilities.

Instead, believe that your product is the best in the industry regardless of what the competitors offer. Know that your prospects will pay for it because it is the best product available.

Keep it simple

Keep it simple, silly!  K.I.S.S is an acronym that Jonathan keeps in mind when he teaches the retail process to his sales reps.

Look at the product in total.

Do not ‘product spew,’ meaning, do not lecture your prospects on every single detail of the product because that is not what they need.

Instead, sell the benefit of the product.

Increase the value of the product by explaining the ways it can serve the customer.

When the question of price arises, turn it back around and ask the customer what he feels it is worth.  If all went well – if the sales rep has created significant value in his presentation – the customer will be pleasantly surprised when presented with the cost because he has placed an even higher value on it.

Commodity selling means to provide the customer with the necessary scenarios to imagine for himself the benefit of your service.

Know that value should exceed cost

Everyone wants to know what’s in it for them. They want to know the biggest return they can get on any investment. As sales reps, keep that in mind. The sales pitch has to continually revolve around it.

When the customer can see the value – when he understands what is in it for him –  he will buy.

At a recent door-to-door conference, Jonathan was looking for a new accountant when he approached an accountant booth a few rows away from his own booth. They told him everything he wanted to hear. Without even knowing the cost, Jonathan was ready to sign because he immediately understood the value they offered. It was a no-brainer.

In the end, the new accountant service was more expensive than the old service he had been using, but to Jonathan, the value exceeded the cost.

Keep up with the evolving world of sales

As a sales leader, Jonathan spends a lot of time on the road. He ‘gets down in the trenches’ with his sales teams to introduce new ideas and to show them how to make changes that, despite sometimes being more difficult at first, will bring in more money in the long run.

He sets the example for his team.

In sales, we sometimes get into a comfortable rut regardless of results. We can’t afford, however, to continue down a road that does not deliver results.

The sales industry is continually evolving and changing. New ideas and new processes are constantly created. You have to study and keep up with the times.

Have fun as well. The sales process can be a fun way to learn about how people think. Figure out how people think and use it to your advantage. Be forward thinking in your sales approach.

“How Low Can You Go?” episode resources

The best way to reach Jonathan is via email at Jon.dale@rsiinc.com.

This episode is brought to you by the TSE Certified Sales Training Program. If you put in a lot of hard work in 2018 but weren’t able to close many of your deals, we can help you fix that. We have a new semester beginning in April and it would be an honor to have you join. Visit thesalesevangelist.com/CST.

If you haven’t already done so, subscribe to the podcast so you won’t miss a single episode. Share it with your friends who would benefit from learning more.

This episode is also brought to you in part by mailtag.io, a Chrome browser extension for Gmail that allows you to track and schedule your emails. It’s super easy, it’s helpful, and I recommend that you try it out. You’ll receive real-time alerts anyone opens an email or clicks a link.

Mailtag.io will give you half-off your subscription for life when you use the Promo Code: Donald at check out.

I hope you enjoyed the show today as much as I did. If so, please consider leaving us a rating on Apple Podcast, Google Podcast, Stitcher, or wherever you consume this content and share it with someone else who might benefit from our message. It helps others find our message and improves our visibility.

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Sales Objection, Donald Kelly, New Seller

TSE 870: TSE Hustler’s League-“Objection”

Sales Objection, Donald Kelly, New SellerEvery prospect has objections. If you fail to address them well, your proposal could go dry. Your prospect may disappear.

Today on The Sales Evangelist Hustler’s League, we’ll hear a discussion about how to align our prospects with our company and how to qualify our prospects before closing.

Don’t trick the buyer.

Talk to the prospect about unconsidered need. Is there something you can share about the product that your product hasn’t thought about? Think about ways that other customers are using your product that your prospect may not have thought of.

Provide solutions that will make your prospect’s decision easier.

Qualify prospects.

It’s important in the sales process to qualify your prospect. If someone clearly isn’t going to buy, it’s best to eliminate that prospect quickly.

Recently, on my The Sales Evangelizers Facebook page, I asked the group why people seem so afraid to talk about money. One member said it was because, if we do, most of our prospects wouldn’t be prospects anymore.

While that’s funny, there’s some truth to it. I should do my best to figure out as soon as possible whether a prospect is legitimate.

Address objections.

When prospects throw up smoke screens, can you overcome them?

The best way to handle objections is to address them early and to address them before the buyer does.

Identify the objections you hear most often from your prospects, and tackle them before the buyer has a chance to. When you do, you’ll take some of the punch out of the objection.

One of the most common objections, of course, is pricing. If you know that six of the last ten prospects you had mentioned pricing as an objection, bring it up early in the process.

“As you know, we’re not the cheapest on the block, but we’re also not the most expensive. Let me tell you why our last customers chose us.” Then you can ask what kind of budget the prospect is working with.

“Objection” episode resources

The Sales Evangelist Hustler’s League is an online group coaching program designed to help sellers of all levels. Whether you’ve been selling for 15 years or 3 days, we’ll give you all the coaching and guidance you need to perform well.

The course is only $167 a month for three months, and it will connect you with sellers in all regions and industries who can share their struggles as you share your own.

This episode was brought to you by our friends at Wiley, publishers of the book Stop Selling & Start Leading. It’s a blueprint for sellers based upon years of research about the things buyers hate.

We’re so convinced that you’ll love the book that we’re providing a free excerpt to our listeners here.

Also check out The Sales Evangelizers on Facebook, where a community of people shares their struggles and their experiences with selling.

Check out the Video Jungle podcast, your source for marketing and selling your brand using video. Plan, create and share your way to better content and strategy.

Leave us a review wherever you consume this content, and share it with someone else who might benefit from our message. If you haven’t already done so, subscribe so you won’t miss a single episode.

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Christopher Ibezim, Donald Kelly, The Sales Evangelist

TSE 844: Sales From The Street: “My Prices Were Too High”

Christopher Ibezim, Donald Kelly, The Sales Evangelist

What do you do when your competitor’s product is cheaper than yours?

Today on Sales From The Street, we talk to Chris Ibezim about what happened when he realized his prices were too high, and how changing his mindset helped him overcome the challenge.

Begin with research

Chris’ biggest challenge in sales was figuring out how to handle selling a product that was significantly more expensive than his competitors’.

He started by researching why his product cost more, with a goal to determine what made his product different.

He discovered that the way to demonstrate value was to understand the differences between the two products.

Compare your product to your competitors’ product so you can understand what makes yours different. Don’t use the word better; instead, let your customer decide that.

Educate your customers

If a customer has an opportunity to buy a car for $5,000 or a car for $10,000, it’s easy to assume you’ll buy the cheaper car.

But what if the more expensive car is a Ferrari? Although it’s more expensive, it has far greater value.

Your job is to educate your customer about your product, and explain why it’s worth the price.

When you’re confident in your product, when you provide the right information, and when you set the right expectation, you’ll find the right customer.

We’re all in the relationship business. Everything comes after you build the relationship because people buy from people they are comfortable with.

“My Prices Were Too High” resources

You can find Chris on Instagram: @klozemore and on Facebook.

Learn how to lead your buyers instead of being subservient. The book Stop Selling & Start Leading, offered by our friends at Wiley, provides a blueprint for your customers and what they are seeking. Read an excerpt of the book here.

Check out the Video Jungle podcast, your source for marketing and selling your brand using video. Plan, create and share your way to better content and strategy.

The podcast is part of our newly-launched Sales Podcast Network, designed to provide specialized sales content for sellers of all levels and all industries. To learn more, email us at SPN for more information.

Leave us a review wherever you consume this content, and share it with someone else who might benefit from our message. If you haven’t already done so, subscribe so you won’t miss a single episode.

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Pricing, Donald Kelly, The Sales Evangelist

TSE 619: Sales From The Street-“Should I Share My Price?”

Pricing, Donald Kelly, The Sales EvangelistScared of putting your price on your website? Some entrepreneurs I know are afraid of putting their coaching prices on their website. I had a fair share of that fear too because I thought I was going to push people away or they won’t want to talk to me anymore.

Your time is valuable.

As an entrepreneur, you’re basically doing everything in the whole organization so you can’t waste your time on people who are not going to be a fit for your business. The good thing about setting a price on your website is that people who wanted it and are a good fit for it would be the ones to reach out to you.

What went wrong?

People told me not to put a price on the website and so I did but it essentially dried up my sales leads for coaching. People stopped asking or having deeper conversations. So I had to find my leads through other resources.

What I had to do to overcome this challenge:

But guess what happened when I finally put my price back on the website? It was like turning the faucet back on and people started to inquire more about coaching. People started to set appointments with me and have conversations. Then out of those who inquired after researching and reading the information on the coaching page and have been able to get on a call with me, about 99% of them became clients.

The Power of Empowerment and Giving Value

They saw the price. They knew what it was and knew the value in it and saw the services, they got all the information. I empowered them beforehand. The funny thing about many people is that they get you on a consultative call or a discovery call and a chat with you. Then they would try to sell you on the call to get their product or service. Instead, bring value to the table. In my case, I give value through this podcast or through my online workshops, or through the TSE Hustler’s League, and some of the other free content we give out. That said, people were able to experience the kind of value I bring. Then they would decide to go into the funnel and find their options and choose whatever is in their price range.

Another thing people don’t want to put price on their website is because they’re afraid of losing opportunities but you can’t lose something you’ve never had. You never had the business to begin with in the first place. And who said that individual would have bought from you? You can’t predict it actually. Just present the information so when the time comes for meaningful conversation, then only meaningful conversation happens.

Today’s Major Takeaway:

If you have a set product price, don’t be afraid of advertising that price on your website.

Episode Resources:

Maximum Influence by Kurt Mortensen

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Alex Barker, Donald Kelly, The Sales Evangelist Podcast

TSE 559: Sales From The Street: “Confident With My Price”

 

Today, we’re bringing in the Side Hustle Coach, Alex Barker, as he shares his experiences and thoughts and insights into selling based on price and being confident with what you’re charging.

Alex is a pharmacist, a legal drug dealer by day, and had no sales training until 2012 when he became an entrepreneur. He eventually got into coaching helping people build successful businesses.

Here are the highlights of my conversation with Alex:

Alex’s major challenges:

Fear of selling his business to people who want to start selling their businesses

Asking for a certain price: Alex’s was selling himself as a consultant to start a podcast for $37 a month! He was all sweaty and nervous and the sales call did not go well.

He kept on questioning what was his worth to someone

Strategies to help you overcome your fear of naming your price:

  1. Write down your prices every single day.

Alex would literally write down his prices for his services every day.

  1. Write down this part of the sales conversation.

Alex would record himself in sales calls and listen again to figure out when he was the most awkward. He then zeroes into that part where he raises the topic of price. So he wrote down word for word what to say.

Once the client feels that you understand what they need and want, then the price part is no longer a hindrance at this point.

  1. Change that mindset and not let anyone else dictate your value.

When you’re in your business, nobody tells you what your value is as opposed to being in a company that tells you their product’s worth. So no one else is going to determine it for you but yourself, otherwise, other people are going to tell you you’re not worth anything.

Results Alex has seen from growing his confidence:

He’s now better able to find the right person to be the client.

Now he’s able to fill his pipeline with clients (the key is to always to talk to people)

Now he’s closing rate is much better and so much higher.

Dreams and goals are priceless. No one can tell you what your dream is worth. What do you think your dreams are worth?

Alex’s Major Takeaway:

Write down your prices until you have the confidence to say so. Keep practicing. Go for No’s. Fall in love with action over results. Winning a sale can be misleading, But if you’re constantly taking action of doing the sales call every day, keep at it, and the results eventually do come

Episode Resources:

Get to know more about Alex on www.alexbarker.co

Secrets of Closing the Sale by Zig Ziglar

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Petra Foster, Donald Kelly, The Sales Evangelist Podcast

TSE 544: Sales From The Street-“Raise Your Price”

Donald Kelly, Petra Foster, The Sales Evangelist PodcastDo you sell your services by the hour? As entrepreneurs, business owners, or sales individuals, we’re okay with charging the lowest rate possible usually because we’re afraid we might lose the business if we charged them too high? But what if you could charge a higher rate and still earn that business every single time?

Today’s guest is Petra Foster, a Client Enrollment Strategist, and she’s going to share with us some insights into charging the right price which you can take to your business.

Petra helps salespeople to position themselves as the premium brand that commands high rates. Most of her clients start from at least $3,000 by creating packages that command the value. She also helps them master sales techniques so they get an immediate yes and take full payment right on the first call.

Here are the highlights of my conversation with Petra:

Strategies for selling high ticket items:

  1. Sell based on value not on price.

People think they need to charge their services by the hour so they’re selling based on price and not on deep-lasting transformation.

  1. Build your brand.

People need to position their offer and who they are in the marketplace. Being a brand is all about having a perception.

  1. The selling starts on social media.

The sales actually begin’s when someone sees you on social media. You need to be able to educate people  on their problem, that their problem can be solved, and that you’re the only person that can solve their problem.

  1. Focus on their problem and how you can solve it.

When you post on your social media platforms about your prospect’s problem as well as your solutions, that would heighten their problem and they would already pre-select themselves and book a call with you because they’ve already been pre-sold.

What happens when you focus based on hourly rates:

  • No commitment from the client so the person may not turn up every single day
  • You’re more likely to get missed payments.
  • You’re charging based on price and not on the transformation your clients go through
  • There is no end goal and no set milestones of what the person can expect when they work with you.

Why you need to sell high premium package price:

  1. Commitment

People take you more seriously. When someone is charging by the hour, what they paid is not a big deal for them and they won’t take your coaching seriously. If you charge a premium price, they’re going to turn up on time each session, they’re going to pay you one time.

  1. Results

They also get fast results and they’re going to be engaging with you more. Hence, they’re more committed because they have invested several thousand of dollars to work with you.

  1. Trust

When they pay you premium, that means they have to trust you and they need to hire you in order to achieve their dreams and their dreams are worth much more than $100 or $500.

Effective ways to find high-caliber clients:

  1. It’s not your business how much money someone has.

Your job is to educate people on their problem and not to know how much money someone has. That is not your business. Once you educate people and you’re offering so much value, then you will be attracting high-caliber people who are willing to pay whatever you ask.

  1. Continue using social media.
  1. Go to local networking events.

All you’re doing is solving a problem. You are a problem-solver first. Then when you’re able to connect with your audience on an emotional and deep level, they will pay you.

Strategies to make your packages irresistible:

  1. Understand who your target market is.

Understand what you like and the type of people you want to work with and the personalities you like. So understand who you are as a human being and what lights you up.

  1. Have an extremely compelling marketing message.

Have an emotionally charged message that clearly states who you are and what results you can give to your clients. Don’t be afraid of giving a very clear promise so you can attract people who want that solution straight away.

  1. Have a seamless sales process.

Get someone on social media to go through your pre-qualifying phase and book that consultation with you.

  1. Know how to have collaborative sales conversations that end with a yes or no.

You never want to get responses like they need to think about it or they need to speak to their partner about it but you want them to have a clear yes or no on the call.

Strategies for having a seamless process in place:

  1. Start with your brand (what you want people to think and feel about you)
  1. Know how to book consultations based on what medium you use to deliver your message.
  1. Prequalify your prospects.

They should go through an application process before they even speak to you. And you decide whether you want to speak with that person or not.

  1. Have a specific call structure.

During the call, don’t just wing it. You have to have a specific structure right from the moment they say hello all the way to the end.

Petra’s Major Takeaway:

Stop charging by the hour. Believe that you have ideal clients out there that want to pay you high rates. You’ve got the training, the experience, the expertise. You are worth so much more than what you are charging for right now. Don’t make it a big deal. Charge what you want and then know exactly how to sell.

Episode Resources:

Get in touch with Petra on www.petrafoster.com/podcast and download her eBook, How to Create and Sell Premium Packages to find out about the exact system she uses for her clients to sell premium packages.

The Sales Development Playbook by Trish Bertuzzi

Get a free audiobook download and a 30-day free trial at audibletrial.com/tse with over 180,000 titles to choose from for your iPhone, Android, Kindle or mp3 player.

What do you like about our podcast? Kindly leave us some rating and/or review on iTunes. This would mean so much to me.

Dave Negri, Donald Kelly, The Sales Evangelist Podcast

TSE 519: Sales From The Street-“Is That the Best Price?”

Dave Negri, The Sales Evangelist Podcast, Contractor Secret weapon PodCastHow would you answer when a client asks you for the best price? Would you go lower or stand your ground? How do you leverage your value on a situation like this? I’m bringing in David Negri on the episode today to share with us some strategies to help you answer this question the best way possible.

David owns a paint contracting business and he also hosts his own podcast called Contractors Secret Weapon Podcast where they help contractors learn more about sales and marketing and driving output.

Here are the highlights of my conversation with David:

 

The biggest challenge David has faced:

Being asked for his best price

Strategies David has done to overcome this question:

  1. “Either/or” option

When asked for his best price, David gave his client two options of either bringing the price down or upgrading the quality of his paint and extending the warranty to two years. The client  went for option B.

  1. Prove your value

The coolest thing was when they finished the job, the client gave them an extra $600. If you can prove to them that the value is there for the money they’re spending, then they’re going to go with it.

  1. Don’t start off your relationship with a lie

You’re selling on the value and not on the price. When you go in knowing that you’re going to bump your price up 10% and give them a 10% discount, you’re basically lying to the customer on the premise that you want business.

David’s Major Takeaway:

Just go out there and be confident in what you have and who you are. Whatever you have, you’re going to provide them value and not sell on price otherwise you become a commodity. Just get away from price.

Episode Resources:

Learn more about David on www.contractorssecretweapon.com.

Get a free audio book download and a 30-day free trial at audibletrial.com/tse with over 180,000 titles to choose from for your iPhone, Android, Kindle or mp3 player.

Donald Kelly; Shannon Pressonl; The Sales Evangelist Podcast

TSE 376: Be Confident In Your Price!

Donald Kelly; Shannon Pressonl; The Sales Evangelist PodcastHow confident are you when it comes to putting a price on the solution you offer? A lot of salespeople struggle with this and when price is getting in the way of your business or sales even when you know that you have tremendous value to offer then you better stop looking for the solution outside and start looking inside.

Today’s guest is entrepreneur and coach Shannon Presson who first learned how to coach with horses as her partners.  Shannon shares with us great, actionable insights to help you switch off that critical, judgmental voice inside of you so you can go to a place of wonder and curiosity that will open up new possibilities you think you could only imagine.

Here are the highlights of my conversation with Shannon:

How you get past the lie you tell yourself:

  1. Be authentic.

People will get you. They may not understand what they’re getting but if you’re 100% committed and passionate, people respond to that.

  1. Trust
  • When you’re ready to commit, you need to trust.
  • People buy things based on emotions.
  • Connect with the emotion, the desire, or pain of people to make them more interested in the solution you have to offer.
  1. Stop looking outside, start looking inside.

When you know this is the work you’re born to do but you don’t believe in yourself then you’re not going to convince everyone else.

Other actionable things you can do:

  • Take 100% responsibility of your story.
  • Recognize that you have story. Either you let it support you or sabotage you.
  • Be willing to own the fact that you will have a view of the world that’s not working.
  • Build coaches and mentors into your group so you’ve got a place to go to get things sorted out.
  • Change your own story. Make a switch from that critical voice to wonder and curiosity.

Benefits of having a mindset of WONDER and CURIOSITY to create CHANGE:

  • Puts you in a land of possibilities
  • Allows your brain to sort information to look for answers

Shannon’s Major Takeaway:

Your outer world is a reflection of your inner world. Always. 100% guaranteed. So if there’s anything outside of your world that is not working the way you wanted to, the answer is not outside of you, but within you. People get who you are. If you’re not connecting, start with what’s going on in the inside. When you get to the core of your life, what is it that you actually believe is possible in this situation?

Start on the inside and the outside just changes on its own.

Episode Resources:

Connect with Shannon through email at shannon@shannonpresson.com.

Unwrap Sharon’s free gift for you and get a 3-part video series where she will take you through a series of questions you can work on. SImply visit www.shannonpresson.com/freegift.

Get a free audiobook download and a 30-day free trial at audibletrial.com/tse with over 180,000 titles to choose from for your iPhone, Android, Kindle or mp3 player.

Register Today! 

Do BIG THINGS, West Palm Beach, Florida, EMKO, Donald Kelly, Travis Thomas, The Sales Evangelist, LIVE YES AND

 

The Sales Evangelist, Pricing Questions

TSE #077: How To Handle Pricing Questions Early In The Sales Process

The Sales Evangelist, Pricing Questions During this episode I answer questions that are often brought up by sellers in regards how to handle the situation when your customer is trying to bring up pricing too soon. I feel that one of the important things to establish with the prospect is that you are not going to enter a price war or bidding match. If they are out kicking the tires or actively looking for a product or service you need to know. If they are just trying to get a price to have you compete with other vendors, it will be a waste of your time because no matter what you do or say they are just going to go with the lowest bidder. These types of opportunities are neither worth my time nor yours. Telling them up front that you may not be a fit if they are just looking to get a low price is the way to go. In my experience those who are just about trying to get the lowest price end up costing you more time than those who have money and are more of a fit.

If the prospect is honestly looking to see if the price fits in their budget, I don’t mind, offering them a ballpark figure of what others have paid. I have seen that a ball park such as $1,000-$5,000 a month tends to be more of a meaningful way to offer a realistic idea. I then follow up with the idea that in order to offer a more accurate pricing, it will require that I understand more of what they are looking for/need. I can also share insights into how others are leveraging what we do specific to their industry. By so doing I can then offer them a finer tune realistic  price. It also helps me to sell based on value and not be seen as a commodity item. This approach has helped me to close many business deals. Some organizations are secretive about pricing. However, I don’t feel that it’s needed. But I do want to be up front with buyers and have them be up front with me.

Check out the episode and feel free to share with me if you have your own strategies that have worked for you. As always, remember to “DO BIG THINGS”!

Check out our recent mention in Entrepreneur Magazine 

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