May 19, 2020
Sales in the Virtual World w/ Brad Ferguson of Sandler Sales
Price vs Value, Covid 19, & Possible Cures
BRT S01 EP15 5-17-20
What We Learned This Week
- Sandler Sales Sub: take prospects thru the 7 compartments for a complete sale
- Ask Qs - to determine the real problems
- Pattern Interrupt - method to disarm people
- Price is what you Pay, Value is what you Get - don't confuse value with price
Guest: Brad Ferguson w/ Sandler Sales
https://www.linkedin.com/in/brad-ferguson-39578231
Managing Member Scottsdale Sales Training, LLC Diamond Award Franchisee Managing Member Scottsdale Sales Training, LLC Diamond Award Franchisee - 4/1995 - present
Per Brad: I have been fortunate to work with some great companies over the years with one goal in mind: SALES EXCELLENCE. I have been able to align myself with sales and business experts who were willing to help me grow to the point of being considered an elite member of the Sandler Training Network... according to my peers. Highly effective helping companies hire “A” players and avoid sales ghosts. Able to teach, coach, and mentor sales leaders and sales professionals to establish and maintain record performance levels, from skill development to revenue growth.
You need a trainer who can also be a trusted advisor, partner and consultant. Why choose Scottsdale Sales Training, LLC.? Because the success of our training has been repeatedly proven through delivery to thousands of clients.
Sandler Training is an
international sales training and development firm dedicated to
improving sales revenue, establishing and creating a hiring process
for sales and sales management, with affordable tools that keep
sales turnover under 10%. Skilled in Sales Training, Coaching, and
Sales Recruiting. First Sandler Certified Instructor in Arizona.
Results producing coach and training professional with a BS in
Education focused in Teaching and Coaching from the State
University of New York College at Cortland.
Sandler Training has been recognized
as the # 1 Sales Training Organization by Entrepreneur Magazine
multiple times.
Sandler Sales Books:
https://www.sandler.com/books/
Sandler Sales Sub:
- Bonding and rapport building.
- Up-front contracts.
- Pain.
- Budget.
- Decision.
- Fulfillment.
- Post-sell.
Take prospects thru the 7 compartments for a complete sale
Seg. 2 & 3
Brad on traditional sales vs sales in the virtual world & tips to handle it
Notes: Sales in the new remote selling arena
How to prospect – cannot go to a networking event, not as personal
How to contact prospects – phone, email, probably same as before
How to set meetings – over phone, or zoom call
Lead Gen – have you backed off industries in trouble or shut down during the crisis (ex – Realtors)
Basics – 3 quick Sandler sales lessons – ex. – Rapport, Pain points, etc.
Sandler lines, the classics: monkey’s fist, don’t spill your popcorn in the lobby
Psychological – leave your child in the car
Sandler training was in person at conference center or office, now all virtual – will it stay that way or be a combo in future
Brad partners w/ Dave Kurland of Objective Mgmt
https://www.objectivemanagement.com/
Focus on the prospect’s Problems - you have to talk about the problem first. When someone asks what you do - your elevator pitch should describe your service as the solution to their problem.
David Sandler defined selling this way: selling is a Broadway play, put on by a psychologist
You need to understand the problem your prospect has, and what pain it causes emotionally. To determine this, you have to ask a lot of questions, 20 to 30 questions. You need to go very deep, to see what the real problem is.
The solution / benefit sales process of the 1990s does not apply as much today. You have to understand the prospects emotional pain.
Use the Pattern Interrupt, as it helps to disarm people
Example: when you call a prospect, immediately ask – Have I caught you at a bad time? - Let me take 30 seconds to tell you what I do, if it’s not for you then we’re done. Then describe your elevator pitch as the solution to the problem. I’ve used my 30 seconds would you like me to go on?
Seg 1
Covid Economics 101
Inflation prices are going up too much, high demand for a slow supply. Deflation prices are going down too much, low demand oversize supply.
In the current environment demand is down, and there is too much supply. Oil prices are down, too much production. If this continues business will stop making products if there’s no demand, then eventually they’ll close the business and layoff people.
Deflation overtime can actually lead to inflation. These things have a domino effect on the economy where we watch prices and demand go up and down. Savings by consumers is up for the first time in years. People are saving money and it hurts the economy because they are not buying goods.
Both the government and the stock market dislike this. They want consumer demand, and they want the consumer to spend money. They are hoping for a V-shaped recovery, where economy goes down quick, and then rebounds quick. What is more likely is a U-shaped recovery. Where the Konomi goes down stays down for a while and then comes up eventually. This takes years.
An example of the current issue would be restaurants. Restaurants have opened back up on limited capacity. So someone who owns a restaurant is not going to hire back to many of their staff. There is a limited demand, so it will take time to recover from this recession.
Travel industry and venues that host big events are way down right now. They will not recover anytime soon. Hard to say if things will recover in 2021, since the vaccine may or may not be available.
Check for an article by CNBC in 2020 call scientist race for the cure about the Moderna vaccine.
Scientists race to find a cure or vaccine for the coronavirus. Here are the top drugs in development - 5/2020
- Health officials and scientists across the world are working to develop vaccines and discover effective treatments against the coronavirus.
- There are no proven, knockout treatments and U.S. health officials say a vaccine could take at least a year to 18 months.
Seg. 4
Matt on Investing and Price vs Value
Buffett Quote: ‘Price is what you pay. Value is what you get.’
Tony Robbins Quote: 'You get paid on the value you provide'
Value Grid w/ 4 Quadrants:
X Axis (Horizontal - Unique) / Y Axis (Vertical - Valuable)
lower left quadrant = not unique / not valuable
upper right quadrant = unique / valuable
Brain Surgeon is: unique & valuable
Tony Robbins Quote: You get paid for the amount of value you provide to people. It’s all about perceived value, and what’s valuable to them.
Example is something that’s unique and valuable like a Monet painting.
A brain surgeon has a unique skill who, and is harder to get time with is more valuable than a regular doctor in a family practice. Valuable equals rare and unique, like a specialist. If you are a specialist you solve unique problems and hence can be very valuable.
Gary Halbert, the famous copywriter always talked about wanting a hungry prospect. Uses an example of the best salesman would be selling water in the desert. Now that $1 water bottle has lots of value, could be $100.
Howard Marks Quote – ‘Don’t confuse price, with value’
If somebody asked you if you want to buy a 1990 Toyota Corolla what question would you ask? What’s the price?
If the price is $100, then this could be a good deal. You might be able to sell it for $500, and make a 400% return. The price of something certainly impacts its value, positive or negative.
Sales / Marketing Topic:
https://brt-show.libsyn.com/category/Sales-Marketing-Networking-HR
Business Topic:
https://brt-show.libsyn.com/category/Business-Consulting-Bus+Lessons-Management-General
Thanks for Listening.
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