-Summarize and review Pain.
-Find out if the prospect has money available to buy your product/service and where it will come from.
-Find out how much money is available
What are the three parts to the Budget Step?
100
Who, What, When, and How
What are the parts of the Decision Step?
100
Pain, Budget, Decision process, and Ultimate Contract.
What are the four things you need to review before making a presentation of any kind?
200
An acronym used as a guide to the elements of the contract prior to a first meeting.
What is ANOT?
200
-Stop selling features and benefits.
-Prospects buy for their reasons, not the salesperson's reasons.
-People buy emotionally, they only make decisions intellectually.
What are different techniques to uncover the prospect's budget?
200
This is an example of a Sandler Rule about the Decision Step.
What is: (A decision not to make a decision is a decision.) (Never ask for the order - make the prospect give it up.) (Don't paint seagulls) (Get an I.O.U. for everything you do)
200
Ask the prospect how he's feeling on a scale of 1-10. If the prospect is less than 10, continue your presentation. If at 10, ask "What do you want me to do now?"
What is the Thermometer close/taking the prospect's temperature?
300
-The beginning and end of every contact with a client/prospect.
-During any/all transitions in the sales process.
What are examples of when to set an Up Front Contract?
DAILY DOUBLE When you find a prospect who is willing and able to invest in your product or service, but is not ready to commit all the funds up front. Rather than create an all-or-nothing situation, you divide the sale into two phases. Phase one could be a trial period, preliminary study, etc.
What is the Monkey's Paw?
300
Chinese menu, 3rd party, specific names
What is examples of the "Who" question?
300
Prevent buyer's remorse, prevent the loss of sale to the competition or incumbent vendors, and establish an up-front contract about what happens next.
What is the purpose of the Post-Sell step?
400
This person feels in control of a meeting when a proper Up-Front Contract is used.
What is the prospect?
400
"Did you mean...?" "I don't understand..." "I don't suppose..." "Let me see if I have this straight..."
What are examples of Dummy Phrases?
400
Time, energy, and resources (i.e. money)
What are the three things that your prospect must be willing and able to invest?
400
-The prospect is disqualified from continuing the selling process. -You discover that other people with whom you have not spoken are involved in the decision process. -The prospect is qualified to continue the selling process.
What are the possible outcomes of the Decision Step?
400
This is an example of a Sandler Rule about Fulfillment.
(Sell today, educate tomorrow.) (If you wait until the presentation to close the sale, you put too much pressure on the prospect and yourself.) (The best presentation you'll ever give, the prospect will never see) (Only give a presentation for the "kill")
500
-Shortening the amount of time that was allotted for the meeting.
-Expecting you to make a presentation, although it was agreed up-front that this meeting would cover budget issues, the decision making process, etc.
-Not being prepared to give you a "yes or no" answer regarding his desire to continue moving forward in the selling process.
What are different ways a prospect can breach a UFC?
500
How much do you think that has cost you? What have you already done to address that problem? Did that work? What would it cost you to not solve the problem?
What are examples of Business/Financial Impact questions in the Pain Funnel?
500
Sometimes your prospect isn't objecting to your price at all. Rather, your prospect is suffering from a lack of ____________.
What is belief?
500
-A verbal or visual presentation, a review of the proposal, etc.
-Who will attend and what role each person will play.
-The amount of time available for the presentation.
-The decision to be made at the end of the presentation (a yes or no).
What are the elements of the Ultimate Contract?
500
Define a solution that addresses the prospect's identified pains. Define a solution the can be delivered for the prospect's budget. Be consistent with the prospect's decision making process (right people, format, length, focus, etc.).