3 Buying Situations - Sales Influence Podcast - SIP 588

The Cycle of Success 🔄 Attitude leads to activity, which leads to achievement, which reinforces attitude in the "wheel of success" cycle. 🎯 Results guarantee a good attitude, not vice versa, as achieving goals validates one's approach and boosts self-esteem. Overcoming Procrastination 🏋️ Jordan Peterson's strategy of "lowering the bar" involves breaking goals into smaller, manageable sub-goals to build momentum and confidence. 📚 Example: To read more books, start with one page a day and gradually increase, creating a habit and overcoming procrastination. Momentum and Motivation 🚀 Getting results drives a good attitude, creating a positive feedback loop where small achievements lead to greater goals and motivation. 💪 The "Peterson principle" of breaking down activities into achievable sub-goals is a powerful strategy for overcoming procrastination and achieving success.

There are three customer buying situations that dictate the approach a salesperson should take. First, for clients not currently using any solution, the presentation must create a sense of need and urgency for the product. Second, when customers are using a do-it-yourself or in-house solution, the sales strategy shifts to an advantage presentation, highlighting the superior benefits of the offered product. Finally, for clients already utilizing a competitor's product, the focus becomes a switchover presentation, emphasizing the positive outcomes and ease of transitioning to the new system. Understanding these states allows salespeople to tailor their presentations effectively, moving beyond generic pitches to address specific customer contexts.

Compensation and Motivation 🏆 The most motivated salespeople achieve a great balance between loving their product and feeling financially appreciated by their company through an effective compensation plan. 💰 Salespeople require monetary compensation, not just gratitude and joy, to pay bills and stay motivated in delivering value-centric, customer-focused service. Sales Performance Framework 📊 The "left side of the ledger" in sales represents what salespeople do for customers, while the "right side" reflects their financial rewards, forming a holistic performance framework. Management Strategy 👔 Managers should prioritize creating a compensation plan that excites and motivates salespeople to provide value-centric, customer-centric service on behalf of the company. Employee Appreciation 🌟 Companies can demonstrate appreciation for salespeople by implementing a compensation structure that aligns with their efforts in delivering customer value and achieving sales targets.

Key Insights on Speaker Types 🎙️ The 80/20 rule applies to speakers: 80% are descriptive, focusing on market trends, while 20% are prescriptive, providing actionable steps. 🔍 Descriptive speakers concentrate on "what's happening" in the market, detailing changes in sales processes and buyer behavior. 🛠️ Prescriptive speakers are tactical, offering step-by-step implementation plans and focusing on behavioral changes for market success. Effective Communication Strategies 🔀 The most effective speakers balance description and prescription, providing both market insights and actionable advice. ⚖️ When communicating with customers, striking a balance between descriptive and prescriptive approaches is crucial for optimal engagement and results.

Vision vs. Mission Board A vision board displays aspirational items like a Bugatti or mansion, while a mission board breaks down daily activities to achieve those goals, such as making 27 calls per day to close 20% of deals and earn $20,000/month. Sales Pipeline Breakdown To afford a $240,000 Bugatti, one must earn $20,000/month for 12 months, requiring 4 sales per month with an average commission of $5,000 each and maintaining 20 deals in the pipeline with a 20% close rate. Achieving the Bugatti goal necessitates making 600 calls per month to get 20 deals in the pipeline, closing 4 deals monthly with a 20% close rate. Daily Sales Activities With 22 working days per month, a salesperson must make 27 calls per day to reach the required 600 calls per month for maintaining the necessary pipeline. The sales funnel breakdown shows that 30 calls lead to 10 meetings, resulting in 1 closed deal at $5,000, illustrating the importance of consistent daily activity to achieve long-term goals.

Compensation Structure A base plus Commission plan is optimal for long sales cycles (3-5 months), providing a motivating base salary and Commission tied to quota to encourage salespeople to accelerate revenue beyond targets. In this model, salespeople earn a percentage of base salary as Commission, with payouts starting at 50% of quota and increasing as they achieve higher percentages. Motivation and Performance Accelerators like 150% payout for sales above quota and 200% payout for exceeding 1.5 times quota create financial energy driving salespeople to sell more. A quota-based Commission plan outperforms a percentage of sales plan by tying rewards to quota achievement rather than raw sales performance. Plan Design Effective plan design involves setting a base salary, quota, and determining the Commission structure with specific percentages and payouts for each quota level achieved. This structure creates a financial incentive that motivates salespeople to hit their numbers and accelerate revenue beyond quota, benefiting both the individual and the company.

Building Trust and Overcoming Anxiety 🤝 To alleviate mental pain from bad past experiences, provide similar recent projects, video testimonials, and references to build trust. 💰 Address budget concerns by directly asking about price range, offering options within that range, and providing payment plans to make purchases more manageable. Managing Expectations and Decision-Making ⏰ Overcome timing issues by providing realistic timelines, highlighting potential delays, and tying conversations to past experiences to manage expectations. 🔍 To address overbuying or underbuying anxiety, offer good, better, best options and inquire about long-term plans to ensure selling the right solution. Demonstrating Expertise and Pricing Strategy 🏆 Demonstrate expertise through insight, information, and proof of similar jobs to help clients trust themselves and make decisions when faced with too many options.

Brent Adamson reveals why most sales reps fail to connect with buyers - and his breakthrough approach that makes customers actually want to talk to you. Grab a copy of Brent’s new book “The Framemaking Sale: Sell More by Boosting Customer Confidence” (Amazon): https://geni.us/FramemakingSale Brent exposes the hidden psychology behind buyer decision-making and introduces his revolutionary "Framemaking" mindset. After analyzing thousands of B2B purchases, Adamson discovered the single factor that drives high-value, low-regret deals - and it's not what you think. You'll Learn: • The "confidence margin" that determines whether prospects buy or stay stuck • Why the "smartness arms race" killed traditional sales differentiation • His "supplier agnostic" mindset that transforms you into the rep customers seek out • The frame-making technique that helps overwhelmed buyers become confident decision-makers This isn't about product expertise or objection handling - it's about becoming the one salesperson customers trust to help them trust themselves. Discover why your humanity, not your knowledge, is your ultimate competitive edge in the AI era. ✅ A to B Insight: https://www.atobinsight.com ✅ The Framemaking Sale website: https://www.theframemakingsale.com 00:00 Welcome Brent Adamson! 04:08 Unexpected Collaboration Origin Story 09:41 High-Quality Buyer Content Feedback 10:26 Challenger Approach: Customer-Centric Insight 14:57 "Navigating Conflicting Insights Effectively" 18:54 High-Quality Purchase Drivers 20:42 Human Emotion in B2B Purchases 24:31 Decision Confidence and Uncertainty 26:25 "Feeling-Driven Business Success" 31:38 AI-Assisted Decision Making 33:12 "Capitalizing on Human-AI Sales Moments" 36:43 Customer-Centric Advisory Approach 40:16 Inspired Leadership: Customer-Centric Focus 43:00 AI vs. Human Sales Complexity 48:25 "Differentiate by Empowering Customers" 49:22 CRM Decision Impact Concerns

Sales Strategy 🎯 Pretending the "invisible spouse" or "invisible boss" is present during sales conversations can shorten the sales cycle and facilitate easier buying decisions. 🤔 Asking customers what their spouse or boss would think about specific features validates understanding of needs and concerns, potentially revealing more insightful information. Customer Psychology 😊 By addressing concerns as if the absent decision-maker were present, salespeople can extract more genuine thoughts from the customer and accelerate agreement. 🚫 When customers mention needing to consult others, avoid taking it personally or attempting to sell to the higher authority directly. Communication Technique 💡 Instead of directly asking about the spouse's or boss's opinion, inquire what the customer thinks their spouse or boss would think, encouraging more authentic and informative responses.

Lead Classification and Management 🎯 Cold, warm, and hot lead categorization enables sales teams to prioritize efforts and allocate resources more efficiently, focusing on the most qualified and interested prospects. 🔍 A lead is defined as contact information for a potential customer who might be interested in a product or service, distinct from a prospect or customer. Lead Generation Strategies 🤝 Referrals are a key source of high-quality leads, which can be cold, warm, or hot depending on the source and level of qualification. Sales Effectiveness 📊 Understanding lead definitions and categories is crucial for developing effective sales strategies and lead generation processes. Continuous Learning 🎓 The Sales Influence Podcast offers valuable insights on sales strategy and lead generation, serving as a resource for sales professionals to enhance their skills and knowledge.