Did you like my Wisdom? If so, please share it with anyone who would love a value-proving tactic which helps them only share the information that has the greatest impact for their customers. - Matt
I feel the need to come clean right from the start. Hopefully you don't feel misled, but I've never actually had any of my sales teams or clients puke on a customer or prospect, at least not literally. So for those of you who got all excited about this post, believing it was going to be some hilarious story about a burrito lunch gone horribly wrong, not sales presentation tips...I apologize. Instead let's talk about an entirely different kind of projectile emission that can produce outcomes that are almost as tragic...
It's as disgusting as it sounds, so set aside your lunch and take the only known cure in this week's Windshield Wisdom.
When you're working with someone, and you're making a sales presentation, how much information do you give them? My name is Matt Middendorp. I'm the owner and founder of Sales Math, and this week's Windshield Wisdom comes straight out of a customer call that I just got done with.
Let me tell you the story. We were meeting with someone, they had built great rapport with them, there was a lot of trust. They had a really deep understanding of this person's business, and they recognized very quickly that their product was a great fit. When it came time to present their product or service here's what they did...they told them everything. I call it 'product vomit'. Hence the name of this post.
They shared everything. Every little nuance, every single piece of information they could share about what they were offering they gave. Basically what they did is went, "Blaaaah" all over their customer with their product. Now here's the trick guys, that's a really tough way to get someone to buy into you. I've seen this before as a closing technique that is taught in some schools. The idea, of course, is that you overwhelm them with information, and they are so overrun that they say, "Holy cow, I'm going to need their help accomplishing all of that."
Here's the truth. It doesn't normally work out that way. Most of the time when you go with that approach you turn people off. Here's the presentation tips I recommend you use. Take a product or service that you offer, and take the features of that product or service and break them up into three categories. The first category is the stuff they have to know. The second category is the stuff that would be great if they understood. The third category is stuff that would be great if they want to understand it...I call the three categories, "Have to know. Good to know. Great to know".
Let me give you an example of the "have to know" stuff. A good friend of mine is a social media guy. He helps people set up their social selling platforms, and there certain types of customers he works with on Facebook where all he can share with them is what they have to know. This is your investment. This is the type of ad we're going to set up. This is how the process works, and here's what you're going to get charged to do it. For the most part those customers have no interest in the technical background. They don't understand Facebook, and they don't want to understand Facebook, but there are things they need to know from a legal and ethical standpoint to make sure they are going in with their eyes open.
This happened all the time when I was in banking. There were certain disclosures that we had to cover. There were certain parts of the closing documents we had to touch on by law. Hence the initials and signatures all over the place. So that's the way it works. It's the stuff that they have to know.
The second category is the stuff that's good to know. In the case of my social media friend, the stuff that was good to know were the types of content they're going to run. These people were a little more sophisticated and engaged with their marketing. They wanted to know how it fed into the funnel. They wanted to know how people engaged with it, and what was going to happen in the process.
Then we come to the great to know stuff. This is for the people who want the technical detail. You've got social media savvy people who want to understand how it's running. How the audiences are being chosen and developed. How the automation is happening behind the scenes. People who want to really get into the technical side of it. This is a chance for my friend as a technical expert to really showcase his expertise.
But not everyone needs to hear each of these categories, and it can be damaging to your relationship and value proposition to pretend otherwise. If you truly have a relationship. If you truly understand their business, then the stuff you're sharing with them falls into one, two, or three of these categories, and you have to know what to give them that matters. When I was selling a checking account at the bank, I didn't tell them everything that we had to offer. I told them the things that mattered to them. And by giving them the information that mattered to them, this caused them to identify with you and your product, which led to trust and faith in it. At that point you're setting the table for them to have to buy instead of trying to sell them something.
It's an axiom of sales. Create an environment where people want to buy from you, and therefore you don't have to sell. When you're creating an environment where people want to buy, a great way to do that is to show your value by only presenting the information that matters most to them.
Thank you very much guys. I hope this helps you. By breaking everything into categories like have to know, good to know, and great to know, and by figuring out who needs which, you'll find your presentations will be much more successful.
Enjoy the Windshield Wisdom. Of course if you have any questions, don't hesitate to reach out to me. You guys have been overwhelming me with all the amazing feedback, and I really appreciate everything you've been telling me. Keep that coming. Keep telling me what you love. Keep telling me what you wish I would talk about in a Windshield Wisdom. You can send all of that to [email protected] Otherwise you can always go to my website and use the contact form. Facebook. LinkedIn. So please reach out.
Make Sales. Be Happy. Be successful.
Matt Middendorp is a nationally acclaimed speaker and sales coach with over 20 years of experience turning connections into customers and advocates. In 2013, Matt founded Sales Math, and debuted his “Formula for Success” sales training system to bankers across the country. From the beginning, Matt’s clients have experienced learning that is fun, meaningful, and makes a difference in the real world. Today, Matt’s core philosophies of “Learn Together, Do Together, Grow Together” are taught through in-person coaching, online as part of the Cool Bankers Academy, and by his leadership of the Cool Bankers Club Facebook Group. His clients are making millions based on the confidence and skills gained from learning a sales process tailored to their individual personalities and businesses. For information about training and workshops visit www.Sales-Math.com, call (715) 897-0879, or email Matt personally at [email protected]
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