25 min listen
TSE 1034: Sales From The Street - "How Low Can You Go?"
TSE 1034: Sales From The Street - "How Low Can You Go?"
ratings:
Length:
20 minutes
Released:
Feb 20, 2019
Format:
Podcast episode
Description
Salespeople 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. [Tweet "Don’t assume what the prospects can, or cannot afford, based on your own wealth. #SpendingHabits"] 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 Jona
Released:
Feb 20, 2019
Format:
Podcast episode
Titles in the series (100)
TSE 001: The Art of Selling with Jeffrey Gitomer by The Sales Evangelist