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Sales Influence - Why People Buy!

I came from the world of selling as an account manager and moved up the ranks to Director of Sales, then VP of International Sales and eventually President of Sales and Marketing. I know what it takes to sell and how to manage and motivate your sales team. I didn't read a book on selling; I LIVED IT! Selling has become tougher! It isn't what it use to be! Show up, do the dog-and-pony and close the deal! Not any more! Today's buyer has changed given access to more information. This means buyers are more informed and more skeptical when it comes to buying. In this podcast, we'll discuss "Finding the Why in How People Buy"! Using the latest studies in consumer behavior and neuromarketing, you'll learn new ways to sell more effectively!
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Sales Influence - Why People Buy!
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Now displaying: August, 2024
Aug 29, 2024

To recharge your sales performance, you must first recharge your physical and mental energy through self-care habits, inspiration, and a client-centric approach.

  • ️ To recharge your sales, you must first recharge yourself, just like you would recharge a dead smartphone battery.
  • ️ Just like a phone, our mental energy can drain if we procrastinate on recharging it, leading to anxious moments and decreased performance.
  • ️ Recharge your sales by taking care of your physical and mental energy through simple habits like getting 6-8 hours of sleep and eating correctly.
  • To maintain energy levels, eat smaller, frequent meals throughout the day, saving automatic tasks for the morning and bigger meals for lunch.
  • ️ Plan your day, prioritize task-oriented activities after lunch, and dedicate 15 minutes daily to inspiration and self-recharge through content like podcasts, books, or videos.
  • Surrounding yourself with top performers in sales, even virtually, can help you recharge and stay motivated by sharing strategies and experiences.
  • To recharge your sales, prioritize self-care by getting enough sleep and nutrition, finding inspiration, taking time to be quiet and reflect, and redirecting your energy to improve your performance.
  • Recharge your sales by recharging your mindset and adopting a client-centric approach that prioritizes delivering value and inspiring others.
    • To recharge your sales, first recharge your mindset by consuming inspiring content, surrounding yourself with positive people, taking quiet time, reflecting on your approach, and redirecting your strategy.
    • A great speaker prioritizes making their client look good, not themselves, by delivering useful content, engaging the audience, and motivating them to discover new abilities.

 

Summary for: https://youtu.be/vaU0SErzvOM by Eightify

Aug 26, 2024

A well-structured sales compensation package should include a balanced mix of base salary, commission, and bonuses or special incentives, such as the 50/40/10 rule, to motivate salespeople and drive performance.

  • Salary or commission compensation plans for salespeople depend on the individual and business, with a three-fold structure of salary, commission, and spiffs being a preferred approach.
  • A salesperson's total market compensation should be divided into 50% base salary, 40% commission, and 10% bonus or special incentives.
  • A sales commission structure can be broken down into a base salary, commission, and bonus, with a common ratio being 50% base, 40% commission, and 10% bonus.
  • Sales commissions can be structured as a percentage of sales or as a percentage of quota, with the goal of reaching a target income, such as $32,000.
  • A spiff is a special incentive or bonus that guides a salesperson's behavior by rewarding them for achieving specific goals or exceeding their quota.
  • Offering a spiff, a one-time bonus, can motivate salespeople to sell a new product or service, or reach a specific sales target, such as selling over 500 licenses to a large customer.
  • The 50/40/10 rule helps balance a salesperson's compensation by allocating 50% for base salary, 40% for commission, and 10% for bonuses or spiffs.
  • A well-structured sales compensation package should include a base salary, commission, and unexpected bonuses to motivate salespeople and drive performance.

 

Summary for: https://youtu.be/W2kAbCnVxDA by Eightify

Aug 22, 2024

 

  • Starting virtual meetings effectively is crucial for establishing positive connections and setting the tone for the entire interaction.
  • Start meetings by sharing your opinion first to encourage participation from small groups.
  • Engaging participants in virtual meetings by setting a structured format and leading by example encourages contributions and prevents awkward silences.
  • Encourage smooth virtual interactions by designating speaking turns to avoid awkward overlaps during discussions.
  • Keep meetings casual and fun to foster connection and encourage participation.
  • Engaging participants with a structured sharing approach enhances interaction in virtual settings.
  • Building virtual rapport is essential for encouraging participation and creating productive meetings in sales.
  • Great speakers prioritize making their clients shine rather than seeking personal recognition.

 

Summary for: https://youtu.be/00jaPwueWW4 

Aug 19, 2024

Engaging clients through thoughtful questions about their challenges, interests, and future predictions fosters meaningful conversations and builds strong rapport in sales.

  • Use Kickstart question starters to initiate engaging conversations with prospects or clients.
  • Engaging clients with prediction questions about market trends and future behaviors fosters meaningful conversations.
  • Engaging clients with questions about their business challenges, profitability, and personal opinions fosters meaningful conversations and shows genuine interest.
  • Asking clients about their passions and hobbies helps build rapport and deepen connections.
  • Finding common interests and personal connections enhances rapport in sales by starting with general questions and using verbal gifting to foster open dialogue.
    • Finding common interests and personal connections, such as family, can enhance rapport building in sales.
    • Building rapport with clients involves starting with general questions before moving to personal topics, using techniques like verbal gifting to encourage open dialogue.
  • Sharing your opinion encourages others to reciprocate, fostering a powerful strategy for building rapport in conversations.
  • Prepare and pre-store questions in five key categories to enhance natural conversation flow with clients.
  • Great speakers prioritize making their clients shine over seeking personal recognition.

 

Summary for: https://youtu.be/ZhnXj-p_txQ 

Aug 18, 2024

The traditional pressure-based approach to closing sales is ineffective in today's market, and salespeople need to adopt a more modern and client-focused approach, as outlined in "The Perfect Close" book, in order to be more successful.

  • Learn about the perfect close 2.0 and how it can help you sell more effectively.
  • The Perfect Close in James M's book is just two steps: engaging with clients before asking for the close, which can be either signing a contract or setting up the next meeting or step in the sales process.
  • Ask "Does it make sense?" and if the client says no, ask them what the next step should be to give them control in the sales process.
  • Pressure to close doesn't work in today's market, so a modern approach is needed for smarter clients.
  • Develop your own fill-in-the-blank phrases and be assertive in your call to action to make the close more effective.
    • Be more assertive and authoritative in your call to action by using a subtle twist to fit your style, and consider developing your own fill-in-the-blank phrases for a more natural and effective approach.
    • Learn and absorb new sales techniques, fill in the blanks, and ask for agreement to make the close more effective.
  • Salespeople often struggle with asking for the next step, but "The Perfect Close" book offers valuable guidance on how to do so effectively, emphasizing the importance of practicing and giving the client control.
    • Salespeople often fail to ask for the next step or call to action, but "The Perfect Close" book provides valuable guidance on how to do so effectively.
    • Practice your call to action so it sounds natural and flows smoothly, and give the client control if they say no.
  • Leave feedback on the podcast and check out the sales velocity academy for effective sales techniques.
  • A great speaker delivers real content, engages the audience, and motivates them, but the most important thing is to make the client look good, not oneself.

 

Summary for: https://youtu.be/WpBKj8AGq2k by Eightify

Aug 17, 2024

Building decision-making confidence in customers is crucial for sales success, and sales influence comes from clarifying the differences between products and helping customers build decision confidence.

  • Building decision-making confidence in customers is crucial for sales success.
  • Researching lighting systems online, found a helpful video comparing two options, which increased my confidence in making a buying decision.
  • One person did a side-by-side comparison of two lighting systems, visually showing the differences in brightness, pros and cons, and price.
  • The customer chose the cheaper option after considering the accessories and her specific needs.
  • Choose between cheaper and more expensive options based on your needs and priorities for managing cords and travel.
  • Customers need to feel confident in their decision-making process, and sales influence comes from clarifying the differences between products and helping customers build decision confidence.
  • B2B buyers with high decision confidence are more likely to choose a premium offering, but situational needs also play a significant role in the decision-making process.
  • Great speakers deliver real content, engage the audience, and motivate them, always making the client look good.

 

Summary for: https://youtu.be/LTt-qGcwq5w 

Aug 16, 2024

In sales and business, it is important to be adaptable, constantly learning, and to focus on the client's needs rather than the speaker's ego.

  • Connecting with others on a personal level, such as sharing interests, is an important aspect of building relationships in sales.
  • Miyamoto Musashi, a legendary samurai, wrote a book on the ideal qualities of a samurai, emphasizing the importance of exploring all crafts and trades to be the best warrior.
  • The book of Five Rings teaches martial arts principles that can be applied to business, such as understanding your industry and using your own style to defeat competitors.
  • Balance in business is like water, being fluid and adaptable, while execution requires decisiveness and intention to seize opportunities.
  • A business samurai must be alert of his surroundings, understand the market changes, and choose the best technique at every moment to achieve victory.
  • Let go of the past and be adaptable to new strategies and knowledge in business.
  • Let go of past ways of doing things to be successful in business today, and check out the article and sales velocity Academy for more tips.
  • A great speaker delivers real content, engages the audience, and motivates them, but it's never about the speaker, it's always about the client.

 

Summary for: https://youtu.be/aX77tccZ3n0 by Eightify

Aug 15, 2024

Addressing and highlighting negative features in a sales pitch can be used to pivot to the positive and ultimately increase credibility and sales.

  • Mentioning a negative feature can increase credibility and be used to bolster a product or service in sales.
  • Addressing product weaknesses proactively in sales conversations can help regain control and pivot to the positive.
  • Raise the negative features in a sales pitch, then pivot to highlight the positive outcomes.
  • Customers may initially see too many features as a negative, but they will realize the need for them as their business grows.
  • Training may seem too long, but for a sophisticated product like ours, it's essential for maximizing return on investment.
  • Turn negative features into positives by listing weaknesses, raising the negative, pivoting with "however", and concluding with a positive statement to control your presentation.
  • Check out the Sales Velocity Academy for fast courses to help you sell more, and remember to sell hard when you know how.
  • It's important for a speaker to focus on delivering real content, engaging the audience, and motivating them, with the main goal being to make the client look good.

 

Summary for: https://youtu.be/cD9pJtK8GAQ by Eightify

Aug 12, 2024

The discovery phase in sales is crucial for qualifying potential clients and understanding their needs and motivations in order to tailor a focused and effective sales demo.

  • The discovery phase in sales is about qualifying clients to see if they are a good fit for a product demonstration.
  • Qualifying the opportunity involves asking three questions: Is the client a fit for our product or service, do we align with their needs, and is there a sense of urgency.
  • Knowing the timing of the decision and the current situation of the customer is crucial in the Discovery phase of sales.
  • Knowing if a prospect is doing nothing, doing it themselves, or using a competitor helps in positioning the demo and understanding their needs.
  • Understand the triggers driving potential customers to want to change and differentiate your product based on their needs and motivations.
  • Having answers to discovery phase questions allows for a more focused demo that aligns with the customer's needs and urgency.
  • Tailoring the presentation based on customer motivation and triggers is key to an effective sales demo.
  • A great speaker delivers real content, engages the audience, and motivates them, but it's never about the speaker, it's always about the client.

 

Summary for: https://youtu.be/Z9-zg34Uk4Y by Eightify

Aug 9, 2024

The discovery phase in sales is crucial for qualifying potential clients and understanding their needs and motivations in order to tailor a focused and effective sales demo.

  • The discovery phase in sales is about qualifying clients to see if they are a good fit for a product demonstration.
  • Qualifying the opportunity involves asking three questions: Is the client a fit for our product or service, do we align with their needs, and is there a sense of urgency.
  • Knowing the timing of the decision and the current situation of the customer is crucial in the Discovery phase of sales.
  • Knowing if a prospect is doing nothing, doing it themselves, or using a competitor helps in positioning the demo and understanding their needs.
  • Understand the triggers driving potential customers to want to change and differentiate your product based on their needs and motivations.
  • Having answers to discovery phase questions allows for a more focused demo that aligns with the customer's needs and urgency.
  • Tailoring the presentation based on customer motivation and triggers is key to an effective sales demo.
  • A great speaker delivers real content, engages the audience, and motivates them, but it's never about the speaker, it's always about the client.

 

 

Aug 7, 2024

Understanding the triggers for change in potential clients' businesses and making it easy for them to buy and use your product is essential for sales success.

  • Understand the triggers for change that lead people or companies to buy your product or service.
  • New leadership, change of ownership, and shift in responsibilities can trigger the need for new products or services.
  • A positive change in financial situation or decrease in product support can trigger buying decisions, as customers seek new options if their vendor goes out of business, is sold, or lacks desired features.
    • A positive change in a company's financial situation or a decrease in support for a product can be effective triggers for making a buying decision.
    • Customers may seek new products or services if their current vendor goes out of business, the company is sold, or the existing product lacks a desired feature.
  • Existing camera lacked a feature, prompting search for a new one; complicated GUI can deter people from using a tool.
  • Customers are triggered for change by leadership, ownership, financial situation, product support, vendor status, new features, and user interface simplicity.
  • Make it easy for customers to buy and use your product, identify triggers for change in your business to approach potential clients, and seek feedback for sales success.
  • Check out the new webinars and courses on Victor Antonio's website to help you sell more effectively.
  • A great speaker delivers real content, engages the audience, and motivates them, but the most important thing is to make the client look good, not oneself.

 

Summary for: https://youtu.be/n3mGuuz422Q 

Aug 7, 2024

In order to bridge the gap between the customer's current state and the desired state in sales, it is important to address the parameters of time, money, effort, and confidence in the sales pitch.

  • Imagine your customer on one side of a deep hole and your solution on the other side as a visual for change in sales.
  • Bridge the gap between the customer's current state and the desired state by addressing four parameters in the presentation to fill in the perception of depth and concerns.
  • Time is the first parameter to consider when closing a sale, as customers want to know how long it will take to implement the product or service and see a return on investment.
  • Understand the difference between price and cost, and minimize the perceived effort required for the customer to implement the solution.
  • You need to address time, money, effort, and confidence in your sales pitch to assure the customer that the product will work for them.
  • Walk the client through a sequence of using the product to build confidence and show that it won't take much time.
  • Explain the cost, impact, effort, and confidence to minimize client's concerns and increase their confidence in implementing the solution.
  • Improve your closing conversion rate and check out the sales velocity Academy for fast classes and valuable information.

 

Summary for: https://youtu.be/pp2P08cGVyc 

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