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Bob: Welcome back everyone, Bob Urichuck founder of the Velocity Selling System and I’ve got Matthew Whyatt down in the Gold Coast of Australia with us today. Matthew, welcome back for another episode.
Matthew: Thanks very much Bob. How are you today?
Bob: Excellent. As a matter of fact, the last episode we did, forty-four, was all about the competencies one need and we talked about one of them being buyer focused. You explained a little bit about engaging buyers being the second one, and we’ll get into the third one later, but when we talked about engaging buyers, how do you engage buyers? I mean, the last episode we talked about questioning but let’s get into it a little. Go for it.
Matthew: One of my, as I said in the previous episode, this is my favorite part about asking questions, it differentiates you as a salesperson, it differentiates me as a salesperson because I actually really understand what the buyer needs so therefore, the last part of my presentation or prescription is much, much easier. So one of the other reasons that we actually ask questions is not only to have control, but one thing I explain to my clients is that everything that a business owner or a salesperson says as far as the buyer is concerned is colored by the fact that you’re looking to make a sale or you’re looking to convince them or do something like that. When you actually have them go through a self-discovery process everything they say is true and correct and everything you say as the salesperson or business owner could be colored or could be twisted.
Bob: Exactly. It could be questionable. That’s why we have what we call the 70/30 rule. What should a salesperson be doing 70% of the time?
Matthew: A salesperson should be listening 70% of the time.
Bob: And the other 30% of the time?
Matthew: Asking questions.
Bob: Exactly! So that leaves 100% so there’s no room for talking. One other question, and the question leads to the 70/30 Rule, but at the end of it, you’re asking questions to be in control, but who should feel in control, because all you’re doing as you’re guiding this guy through the self-discovery process is facilitating the buy.
Matthew: Absolutely.
Bob: And we’re going to get into that more and we’re going to get into also, Matthew, you used the word convince, we don’t normally use that word in our language. What do we use instead of convince?
Matthew: Engage.
Bob: Exactly. And that’s what engaging the buyer is all about. Change the perspective. Determine if they are qualified to do business with you or not. Great one Matthew. How about we get into some question techniques like we just did in the 70/30 Rule in the next episode?
Matthew: Fantastic. I think that will be a really great value to the listeners.
Bob: Yeah, so stay tuned and we’ll see you all next week.
Matthew: Thanks very much, bye for now.
Bob: Take care.

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Velocity Selling TV – Episode 44 – How to Engage Buyers

How to engage buyers is yet another crucial part to the Velocity Selling System. How can you engage your buyers?

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Bob: Well, welcome back everyone to Velocity Selling TV. Bob Urichuck, the founder of the Velocity Selling System and I’ve got with me today a Velocity Selling Specialist and CEO of Velocity Sales Training, Matthew Whyatt, down in the Gold Coast in Australia. So, join me in welcoming Matthew. How are you doing Matthew?
Matthew: Very well Bob, how are you?
Bob: Excellent, excellent. Listen Matthew, the last episode we talked about being buyer focused and we shared with our viewers the importance of the Universal needs of all buyers and how they all work, so that was great. And that was the first step of the three competencies that you have to master in order to get this whole buyer focused system. So, one, we learned how to be buyer focused. The second competency is how to engage buyers. Matthew, how do you engage buyers?
Matthew: Well Bob, that’s a great question and that’s exactly how you engage buyers, by asking really questions. Actually this is my very favourite part of the system because this has been the difference between me seeming like a normal sales person, or even anybody that follows our system, seeming like a normal sales person, being actually somebody who is actually buyer focused. Now, when I run workshops, and I know that you’ve run, you’ve run tens of thousands of workshops in your time Bob, but in our time of running workshops, what we always do is we ask people why they ask questions. And we usually get some pretty normal answers. One of the answers that I get is to learn more, to help us understand a better, what the customers need, and I even sometimes break them up into groups and have them discuss on their tables. And you know, I get lots of good answers. But really the one answer is the key to all of this, is for control. And we’re not trying to manipulate the conversation, we’re just trying to manage the time because at the beginning of the conversation we want to understand how much time we have, what we want to achieve, and what we want to make sure that we’re trucking along in an orderly fashion to make sure the buyer actually gets what they want out of the conversation.
Bob: Yeah, you got it Matthew and the way I like to explain that is: the buyer feels they’re in control because we’re always working off of their questions. Yet, who should be in control of the sales process? The salesperson? The small business owner? Or the buyer? So obviously it’s important that you’ve got to make the buyer feel important and that they’re in control and once they feel in control, guess what? They’re buying, you don’t have to sell them a thing.
Matthew: Absolutely Bob. In the previous episode we talked about the Universal needs of buyers.
Bob: Yep.
Matthew: And that’s to be understood, to be comfortable, to feel informed, to feel welcomed, and the only way to actually genuinely do that in your business or in a sales prescription or presentation is to ask really great, quality questions.
Bob: You got it. You know what Matthew, let’s save that one for the next episode because we’ve got so much to share with people in one area that I think it’s worth another episode. So, stay tuned and we’ll get into more engaging questions on our next episode which I believe will be episode 45.
Matthew: 45, yeah, absolutely.
Bob: Excellent! We’ll see you next week.
Matthew: See you Bob, bye-bye.

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Velocity Selling TV – Episode 43 – How to Be Buyer Focused

Buyer focused is one of the most important aspects to have for any business. Focusing on your buyers to find out their needs and wants, and what is important to them is a crucial piece to the Buyer Focused Velocity Selling System.

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Velocity Selling TV Episode 42: How Buyers Buy

Bob: Welcome back to Velocity Selling Tv. My name is Bob Urichuck, founder of Velocity Selling and with us today is Matthew Whyatt in the Gold Coast of Australia. Welcome back for another episode Matthew.
Matthew: Thanks Bob, looking forward to it.
Bob: Now Matthew, we’ve gone through the attitudes, all the behaviours, we’re now getting into the competencies and how sales people should sell, and I think people need to know first how buyers buy. We’re all buyers, we follow a system, and of course sales people should follow a system, how do buyers presently buy? Why don’t you share that with our listeners so they get to understand how they themselves are even buying.
Matthew: Bob this is actually my favorite part. Well, you know what, it’s my current favorite part because I’m really getting into it with my current customers. And often, people don’t realise that subconsciously they have a system of buying. So the first step in that system of buying is I don’t need it and I don’t want it, and I don’t really have any desire for it. And how does that look like? Well, let’s say your wife walks into a dress store, the shop assistant says ‘Hi can I help you?’, the immediate reaction is ‘No thanks, just looking’. And whenever I put that to my audiences, people are always laughing, and nodding going ‘Yay, actually I do, even when I walk in there for something specific, no thanks, just looking’. So the first step is to reject the sales person. So the second step is to get what I call free consulting or what we call free consulting. What that means is the buyer asks questions, and the sales people answers questions. And throughout the competency part, we’re going to uncover that the person asking the questions is in control. So what you need to do is understand that you’re not actually serving the customer by answering questions. Now I know that sounds a little bit controversial and in future episodes, I’ll really unpack that for you. The third step in the buying system, how buyers buy, is once again they say ‘I’ll get back to you, I need to think about it, I need to talk to my board member, I need to talk to my wife, I need to consult my astrologist or my dog, it doesn’t matter, they’re just trying to push you away. And once again that’s an in built hard coded thing, even if they want to buy from you they don’t feel that they should buy from you because they need to think about it. And just by the way, in the history of anybody, nobody has actually said, Look, dim the lights darling, I need to think about it. So they should, they really do know. And the fourth part, and I’ve spoken with quite a few new businesses, new customers of mine, one customer says ‘How many open opportunities do you have?’ He said, over two hundred which equaled over a couple of million dollars worth of business sales because they fell into the buyers system. They, first of all, got through the fact that they didn’t want it, then they felt they needed to answer all the questions, they provided a quote or a proposal, and then what happened to the customer’s in the fourth step which is, they hide. So how many of you today listening, are looking at your current data base and are following up with customers who are hiding from you?
Bob: Yeah.
Matthew: So now that we understand how buyers buy, how can we uncover, and unpack that? We’ll definitely talk about that in upcoming episodes.
Bob: That’s fantastic Matthew, and that’s a good point you know so, Step one, they mislead us, they don’t be totally honest with us. Step two, they get as much free consulting out of the salesperson as they can, and then they mislead the salesperson again by saying I’ll get back to you or I’ll think about it and when you do get back to them, they hide on you and you get nowhere. And that really describes the system and what we’re going to be able to show our listeners over future episodes is how the Velocity Selling system overcomes the buyers system, yet the buyers feel they are in control while they are being engaged and empowered to make decisions. Well that’s great Matthew, I look forward to another episode next week.
Matthew: Thanks a lot Bob, bye for now.

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Velocity Selling TV – Episode 42 – How Buyers Buy

Discovering how buyers buy is one of the crucial factors to a success business. Simply speaking, buyers have a four step buying system that is subconsciously a part of them.

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Velocity Selling TV Episode 42: How Buyers Buy

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Velocity Selling TV – Episode 41 – Gain, Retain and Regain Success Strategies Summary

Sales Coaching and Regain Success for your Sales Team

Over the last several episodes of Velocity Selling TV, Matthew Whyatt and Bob Urichuck have discussed what you need to gain, retain, and regain success strategies.

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Velocity Selling TV Episode 41: Gain, Retain, and Regain Success Strategies

Bob: Welcome back to Velocity Selling TV. My name is Bob Urichuck, founder of Velocity Selling and today, we have Matthew Whyatt, down on the Gold Coast. Matthew, thanks for spending the time with us again this evening, or your morning actually. We talked a lot about behaviour towards buyers, why don’t you summarise everything you’ve shared with us in the last few episodes just to give people all the direction and tools so they can get up in running ASAP.
Matthew: Ok, well, so over the last couple of episodes, what have we talked about? We’ve talked about identifying your A, B, and C customers. So they’re your Absolute, Beneficial, and Convenient clients. We’ve talked about your retain and regain strategies and also your personal marketing plan. We’ve spoken about how a lot of sales people have incoming leads, which is great, but what can you do to add value to the market place and be seen as an expert. Now, in Velocity Selling, we actually give you all the tools to make it really simple to identify your target market, target the right people, and then grow your business. And so how you would do that is going ahead and looking at velocityselling.com, you can sign up for the free, seven day trial, and you go to section B-3. So in B-3, the workbook is there not to give you more work, but to assist you and simplify the process of identifying your best customers and your best strategy. You fill that out and within a couple of days, you’ll have a really clear path on what you need to do to grow your business to much greater levels. That’s what I wanted to talk about today is, look, we can summarise and go over that in greater detail with these videos, but you know what, there’s already an amazing video platform out there and all it will cost you is a little bit of time.
Bob: That’s right because it’s only your time, you’re providing this free of charge to everyone, and that’s a great benefit because you know, I agree with you, it’s not just the video, but the workbook exercises to help people discover who their target market is to get the best ROTI is fantastic. So Matthew, that’s excellent advice, thank you once again for another great week and I look forward to seeing you again next week. And I guess we’ll move into competencies moving forward. That covers behaviour, in other words, we’ve done behaviour towards yourself, behaviour toward your organisation, and this last one, behaviour towards your buyers. Now we’re going to start to look at competencies, Part one, how to engage, attract, and empower buyers to buy. Look forward to seeing you next week.
Matthew: Bye now.

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Velocity Selling TV – Episode 40 – The Most Effective Way to Attract New Clients

Many businesses and sales people think they know the most effective way to attract new clients. They turn to the old, traditional methods of what is known as a push strategy – pushing themselves out there in any media or marketing strategy they can saying ‘hey, buy my stuff.’

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Velocity Selling TV Episode 40: The Most Effective Way to Attract New Clients

Bob: Welcome to Velocity Selling TV. My name is Bob Urichuck, founder of Velocity Selling and with us today is Matthew Whyatt down in the Gold Coast of Australia. This week is another great week for you I trust Matthew?
Matthew: It is another great week. Did we explain what G.R.E.A.T. stands for?
Bob: No, go ahead.
Matthew: Well, G.R.E.A.T is Getting Really Excited About Today.
Bob: You got it. And why are we excited about today?
Matthew: Because we’ve got another opportunity to serve customers and breath, I guess is another day on planet Earth.
Bob: You got it. So, we talked about retain strategies, and regain strategies. Tell us a little bit about a game strategy. What are some game strategies that businesses and people can apply?
Matthew: Well look Bob, a lot of the sales people that I come across when I first start coaching and working with businesses, I ask them what they are doing to get new customers. And most of the time it’s all about what the business is doing for them. What the business is doing for them in regards to radio or TV or newspaper, or magazine, or social media or whatever those normal, ‘traditional’ ways of actually bringing business in for the sales people. And so very quickly, oh go ahead…
Bob: Oh, I’m saying it’s kind of like following that push strategy- we’re pushing information out all the time.
Matthew: Yeah, that’s right. It’s the constant marketing message of ‘hey, buy my stuff’. In the new economy of buyers people are far more informed, people are able to Google you and really if you’re just selling your ‘thing’, your widget, you’re going to be commoditised in about half a heartbeat and really there’s always somebody that can probably do it cheaper than you, probably lower quality. And so what we need to do as sales people, we need to be positioned as the experts, or business owners need to be positioned as the experts. And something that sticks in my mind as a chuckle is nobody ever yells to a crowded room ‘quick, get me a generalist!’ So, how do you position yourself as an expert? And this is something that you teach in the system and now I teach to people is how does a sales person become individually of great value? There’s a whole range of ways. You can do that through your LinkedIn profile, you can do that through offering value. Now that’s not just buy my stuff through Facebook or buy my stuff through LinkedIn, it’s actually you’re acting in conversations that are currently running. Offering value, offering ideas, perspectives on your industry because you are the subject matter expert – well hopefully you’re the subject matter expert. So reading articles and being able to, when you’re dealing with your clients, offering them value. Another great way that I use and that everybody is capable of using, is speaking to groups. Speaking to groups is- so I was saying to a real estate lady the other day, and I said, so how often do you think in a networking situation where you have the opportunity to take twenty minutes to just tell a person how clever you are and how good you are by demonstrating value? Very rarely because that’s a conversation, we want to give the other person a chance to talk and those conversations are going to be, a little bit, shall we say, superficial, and then we’ll go into breakfast and then we’ll say goodbye, nice to meet you, thanks for your card. Whereas when you’re speaking to a group, you’ve got local star power, everybody’s sitting there watching you, and then you’re, rather than doing one on one, you’re actually doing one on many. And that’s probably the best marketing strategy I can offer anybody watching today is learn a fifteen minute to twenty minute high value talk in your particular industry and offer that to networking groups.
Bob: That’s right.
Matthew: And right away, people will come up to you towards the end of the session to ask you further questions and you’ve immediately raised yourself above the normal individual out there in the market place who are competing against you.
Bob: So what you’re saying is go out there, add value to the masses, not selling, not pitching, but just going out and helping people make better decisions, live better lives. And by giving them value they will see you as an expert and if they want your services, they’ll come to you. So what you’re describing here is a pull strategy.
Matthew: Absolutely.
Bob: And that is really what Velocity Selling is all about because we like to attract, engage, and empower buyers to buy. Well, that’s excellent Matthew, thank you very much for another great session and I look forward to seeing you next week.
Matthew: Thanks Bob, bye for now.

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Velocity Selling TV – Episode 39 – How To Regain A Lost Sale Or Client

There are three things you need to know for how to regain a lost sale or client. Anytime you have lost a sale or a client you will need to immediately take the blame and own up to whatever it is that went wrong with the service, business process, expectations, or even the product. Any time your business causes an unhappy customer, you must do everything you can to let the client know that you understand their dissatisfaction and you are indeed sorry that they have come to feel this way.

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Velocity Selling TV Episode 39: How to Regain a Lost Sale or Client

Bob: Welcome back to Velocity Selling TV. My name is Bob Urichuck, founder of Velocity Selling and with us today is Matthew Whyatt, down in the Gold Coast of Australia. How are we this week Matthew?
Matthew: Bob, fantastic. How about yourself?
Bob: Fantastic is a great word and you know what great means of course. Now Matthew, we talked about the ABC’s of targeting, we talked a little bit about retain strategies and maintaining clients. What happens if we lose any client? How do we regain them?
Matthew: Well Bob this came up for one of my clients actually just this week. Their service desk might have dropped the ball and so the customer was a bit grumpy about the whole thing. So what I did was I actually discussed this with the sales people because they were an A class customer. And so what I said is, you know what, you’ve got to own it and you’ve just got to go ahead and speak to the customer and own it. Say ‘Look, I’m sorry we did this. Is there anything we can do to get your business back?’ and that’s a powerful question you can ask because at one stage a customer would have been an A class customer for you and by asking that question, you give them the opportunity to come back to you. Now, if the person says no, well then, as I said, take the blame. Say ‘I’m sorry about that. All the beset for the future.’ If they give you an idea on what you could do and you can deliver on it, you better deliver on it. The idea here is to just ask questions. You know, if you don’t ask, you don’t get. We know that as salespeople, we know that as business owners. My kids who are 6 and 8, certainly know how to ask and they’ve got plenty of courage to ask, and keep asking. I wish some salespeople that have worked for me would ask as often as my children do for whatever they want.
Bob: Matthew, let’s see the three things you’ve got here. One, you say you lose an A class client, there;s three things you’ve got to do. One: take the blame.
Matthew: Take the blame.
Bob: Own it. Two: find out where you went wrong, just in case it’s not the same as what you might think. You ask the client where did we go wrong. And the third one, what’s it going to take to get your business back. That’s excellent advice. A lot of stuff to implement over the next week. So, what are we going to do next week now?
Matthew: Well Bob, we’re actually going to be talking about growing the business. So this is a game strategy. What are the things we can do to get out there and actually make the sales person a value to the potential client market. So that’s going to be about a personal marketing plan.
Bob: Ok, so we got two more to go, game strategies and persona marketing plan. Excellent.
Matthew: Perfect.
Bob: I’ll see you next week.
Matthew: Thanks Bob, bye for now. Oh, One thing before we go Bob, if people have been getting some value here, why not go ahead and click on the link below this video that I’ll stick below, that actually signs people up to give you the opportunity to have a trial of our training. If you’re getting value out of our videos, go ahead and try our online training because we can cover all of this in really great depth. There’s lots of workbooks and the opportunity to test yourself against your knowledge. So if you’re a pro, let’s see how good you are, if you’re new to sales or a business owner, it’ll be a huge amount of quality information to grow your business .
Bob: Thanks Matthew.
Matthew: So there will be a link below here to try us out for free for seven days.
Bob: Excellent, thank you Matthew.
Matthew: Thanks Bob, bye for now.

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Velocity Selling TV – Episode 38 – Strategies to Grow your Business

Every business needs strategies to grow your business. It’s simple- your business is either growing or it’s dying. Yet, you need to find balance between retaining the customers you have currently and finding more of those A class customers.

Velocity Selling TV Episode 38: Strategies to Grow Your Business

Bob: Welcome back to Velocity Selling TV, my name is Bob Urichuck, founder of Velocity Selling and again this week we’re trying something different. We’re interviewing the CEO of Velocity Selling, Matthew Whyatt. Welcome back Matthew.
Matthew: Thanks very much Bob. How’s Canada today?
Bob: Well actually, it’s a bit, cold. We’re getting into fall and winter now so it’s a little different than the Gold Coast where you’re actually going into spring and summer aren’t you?
Matthew: Yep. I’m working on my tan on the weekends now. It’s beautiful.
Bob: Well that’s the nice part about the opposites that we are in.
Matthew: That’s right.
Bob: Now Matthew, last time we got together we talked a little about the ABC’s targeting process in Velocity Selling- Absolute, Beneficial, and Convenient. We also talked about ROTI – return on time invested and we started to talk about retaining strategies. Why don’t you pick up where you left off in the last episode from retaining strategies. What can people do, businesses do starting today to help them better understand who their A, B, and C customers are and how can they retain them?
Matthew: Yeah, well look, a lot of businesses look outward in the world and go ‘Who do I want in my business?’ And of course, if you’re starting out, that’s absolutely necessary. But if you actually start looking internally in your current business, most businesses have currently a database, even if you’ve only been around for a short period of time, there’s going to be some customers in there that are better than others. When I say better, I mean, as I said earlier, A class customers they pay you what you’re worth, they value your services, and get the most value out of it.
Bob: The meet certain criteria.
Matthew: Yes, they meet certain criteria.
Bob: that’s how they can be defined.
Matthew: A little job for everyone listening today might be what that criteria is that defines an A class customer.
Bob: Yeah.
Matthew: And so you’ve looked internally inside your business, you’ve identified what your A class customer is, and then as I said in a previous episode, is show them a bit of love. What does that mean? Well, I actually just call people up, ask them how they’re going, what’s the biggest challenge at the moment, is there anything I can do to assist? And sometimes a conversation goes around to “Hey John, I’m actually looking to grow my business and you’re enjoying my services, I’d love to find other people just like you. Not necessarily competition, but other people who do business like you.” Now this might be a great way to get referrals, also show them a little respect and appreciation, and gratitude for being a great customer of yours. And of course, if they’re an A class customer, you’re talking to an A class customer, they’re probably going to refer you to other A class customers. Which, once again, grows your business more.
Bob: Yes.
Matthew: So that’s one idea that may be helpful to everybody today is: grow your business, targeting the right people. And that’s really going to give you the best return on time invested.
Bob: And from the inside out, you mentioned, identify your A’s, B’s, and C’s in your categories right now based on your database. And then of course, retaining your A customers by giving them more attention, and then your B customers, and then your C customers even less. The idea is if you’re not maintaining your relationship with them, guess who is?
Matthew: Your competition.
Bob: That’s great Matthew. Ok so, what’s on the agenda for next week?
Matthew: Well, let’s keep moving forward with retain, gain, and gain strategies. I think there’s lots we can do and most businesses are looking- actually you know what, ALL businesses are looking to get new customers. As we know, businesses are either growing or dying and you need to continue to fill your business with new customers because there’s an attrition rate- customers will move on, move town, move country, change companies, – and so we always need to be filling our business with new customers and if we can fill them with A class customers, all the better.
Bob: You got it. Well that’s great Matthew. Look forward to talking to you next week.
Matthew: Thanks Bob. Bye for now.

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Velocity Selling TV – Episode 37 – Summary of the ABC’s of Targeting

When it comes to your customers, there are the ABC’s with every business. You will have your A-absolute, B- beneficial, and C-convenient customers and as a sales person or a business owner, you need to get your best ROTI. Getting your best ROTI or Return on Time Invested, you should spend most of your time with your A class customers.

Velocity Selling TV Episode 37: Summary of the ABC’s of Targeting

Bob: Hello, and welcome to Velocity Selling TV. My name is Bob Urichuck, founder of Velocity Selling and today we’re going to continue with the interviews towards our CEO of Velocity Selling, Matthew Whyatt, down in the Gold Coast of Australia. How are you doing today Matthew?
Matthew: I’m extremely well Bob. How are you?
Bob: Good. You know, last week in our last episode we talked about prospecting and you shared with the listeners about your ABC targeting model – A is absolute, B beneficial, and C convenient- why don’t you talk to us some more about that and the use of that word, I know we’ve used it a couple times in the last episode, but we really didn’t explain what ROTI meant. So why don’t I just turn it over to you and tell us a little about how you get your ROTI and how you target in on it.
Matthew: Yeah, ok. See look, that’s a really great point. ROTI is- everyone is familiar with the term ROI- return on investment. Now that usually relates to money. Now, money comes and money goes and that’s fine but time only ever goes. And so what we do in Velocity Selling is we talk about R.O.T.I, return on time invested, because you know, we still want to spend time with our families, we still want to have a life, so spending all our life trying to prospect and sell is not the greatest use of our time because we might burn out. So we talk about R.O.T.I, ROTI, or return on time invested and in the last episode we spoke about targeting ABC: A for absolute- they’re the best customers, the ones that pay you what you’re worth, respect what you do- B for beneficial- everybody wins, and C for convenient. Now, I eluded to and you mentioned at the end of the episode the 80/20 rule. Now that’s really important to understand. Now just think about this if you’re a salesperson or a business owner, where do you spend 80% of your time? Is it with your best customers? Or the ones that suck up most of your time, which happen to be your C class customers.
Bob: Yeah.
Matthew: Have a think about that. Are you respecting and giving love to your 20%? Are you giving love to those A class customers? How do you actually make sure the stick with you as a customer? How do you make it almost painful for them to even think about using another supplier? So that might be a little challenge for you today to write down one or two ways that you could come up with in your business to show the love to your A class customers. First of all catergorise, figure out who they are, show them some love, and then a drop in, a bottle of wine or a gift of some sort. It’s just a small gift a small act of appreciation, will pay dividends when they come to think about you in their next buying cycle.
Bob: Alright, so now Matthew you’re getting more into what we call a Retain Strategy. How do you retain your existing customers? And this is where every business has to have a retain strategy for at least their A and B class customers and that’s really important, I think that’s good. That’s good Matthew. Anything else you would like to ass to this week’s episode?
Matthew: Well not really Bob. I think that’s, it’s a simple idea, it’s about getting the best return on time invested. Spend the time with you’re A class customers, see what you can do and we’ll talk about this in the next episode. I do get excited and I want to over explain everything or share as much as I can but really find out how to identify your best customers and then show them some love.
Bob: Yeah, I think a part of it to is, why are you in business? And what kind of buyers do you want to work with?
Matthew: Yeah.
Bob: These are scenarios too and if we waste all our time on our C customers we waste all our time. If we could turn that on our A’s and B’s we can get a better Return on Time Invested and that’s excellent. So what’s the next episode Matthew?
Matthew: Well Bob, why don’t we carry on with the retain strategies and gain strategies that we speak about in Velocity Selling.
Bob: Sounds great, looking forward to next week.
Matthew: Perfect, bye for now.
Bob: Bye.

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Velocity Selling TV – Episode 36 – Effective Targeting

When it comes to targeting customers, there are a few rules, also known as ABC’s that you will need to follow. In this week’s episode of Velocity Selling TV sale gurus Matthew Whyatt and Bob Urichuck discuss how to target effectively when it comes to finding new businesses or customers that you want to work with.

Velocity Selling TV – Episode 36 – Effective Targeting

Velocity Selling TV Episode Thirty-Six: Effective Targeting
Matthew: Welcome to Velocity Selling TV. I’m your host, Matthew Whyatt, and of course we’ve got the founder of our company, Bob Urichuck. Welcome Bob.
Bob: Hi Matthew, good to see you again.
Matthew: Great to see you too. Now Bob, we’ve been doing this for about a year, or almost a year, and you’ve asked to do a little differently today, so do you want to explain that to the nice people what you’ve been talking about?
Bob: Well exactly. What we’ve been talking about Matthew is me passing the reins to over to you and the idea being rather than you interviewing me, you’re the CEO of Velocity Selling, let me start to interview you and you can share some of your day to day activities and knowledge with our listeners. Would that be alright?
Matthew: Well that sounds great. Let’s go for it. What have you got for me today Bob?
Bob: Well ok. Let’s take a look for the first thirty-five episodes you have interviewed me as the founder and we’ve talked about a lot of different things, all the components of attitude then we went into behaviour and I believe on our last episode we talked about pay time vs no pay time. Which leads us to a whole category or whole new chapter called Behaviour towards your buyers and of course it has a lot to do with time as well because as you know the Velocity Selling system has a targeting market and we’re always looking for better ROTI. So Matthew, why don’t you share with us how to go about prospecting and how to get the best ROTI and maybe even explain what ROTI is to our listeners.
Matthew: Yeah, that’s a great place to start. This is actually where I start with a lot of my customers and it’s a little bit differently positioned in a lot of how businesses operate, a lot of businesses guide the market place ‘Hey we can get lots of these types of customers’ and very rarely are these types of customers the perfect ones. I was actually at a networking event yesterday and we were talking about the best customer for a particular individual and he was saying ‘We want companies like this’ and it was really broad and this is how many businesses guide their marketplace and keep it too broad and they have no niche and they don’t really have any targeting there. So I was on the table with them and I said well let’s narrow it down. Think about your perfect customer and what I mean by your perfect customer is if you were to start your company today, imagine if you were totally well funded and you only ever wanted to do business with the best people who pay you what you’re asking for, they value your services and they are how you want to set your business up in the future. I said categorise those people as you’re A class clients. Now, with Velocity Selling we target and we catergorise customers to A,B, and C. That’s not A for good, B for not so good, and C for crummy, we actually take that in a different way. We say A for absolute, these customers or this company is set up to service these people really perfectly. They pay us on time, they respect and value what we do and they’re able to tell others about us. So they are A for absolute- so A for amazing or A for absolute. B is for Beneficial. So everybody wins in that situation- it’s a good product, it’s a good fit for the customer and they’re still going to pay us well for our services and they respect us for what we do. Now the third category is when most companies actually get it wrong. They actually say well we’re going to go for lots of market share and we call them convenient. Now convenient customers are often going to be- give us only about 20% of our revenue, take up about 80% of our time and really are not the best customer for us. So that’s the first step in understanding how you actually go ahead and develop your market is think about the best customer you’ve got and find more of them. I know that sounds really simplistic, but so many businesses get it so wrong they just want to sell their thing but if they just target in on the one company, so this one chap at the networking event was saying something along the lines of- I said, ‘well whose your best customer, that pays you, doesn’t mind about price, that respects and values what you do?’ he said, ‘Ahh, this company’. And so I said to the table ‘Ok, so do you want more of those guys?’ He said ‘Absolutely’. So I said to the table, ‘Who else knows a company exactly like this?’ and immediately, because he was clear and specific about his A type customer, he was able to get a referral and a connection to grow his business. Because really, all we really want is business owners and as sales people is to find that one great customer in every interaction that will provide us with another great customer because then it becomes a snow ball effect.
Bob: Exactly. So it sounds like 80/20 rule: 80% of your business comes from 20% of your customers.
Matthew: Absolutely.
Bob: The top 20% are you’re a customers, your absolute customers and that’s where you get the best return on time invested. Well that’s great Matthew, lets save some more for the next episode and we’ll be back in touch.
Matthew: Fantastic.
Bob: Thanks for the bringing up the importance of the ABC categories and how that all works, so until the next conversation, thank you Matthew.
Matthew: Thanks Bob, Bye-bye.

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