In the latest episode of Velocity Selling TV, Bob Urichuk and Matthew Whyatt discuss the buying motivators in a sale. Also, don’t forget to download the free guide below the video.
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Velocity Selling TV Episode 64: Buying Motivators
Bob: Welcome back to Velocity Selling TV. Hi, this is Bob and I’ve got Matthew down in Australia with me. Today we’re going to talk about episode 64 and it’s all about buying motivators, Step three in the Velocity selling system. Welcome back Matthew.
Matthew: Thanks very much Bob. As we move through these steps I really want to encourage everybody to think about these are gates, these are steps, and we can’t go through to the next one unless we do everything we need to do in the previous step. That’s really important. Today we’re talking about buying motivators.
Bob: Just to add one thing, and even because this is our third episode since we did Build Rapport, we should always be demonstrating that at the beginning of our session to build a little rapport because you do have to start from the beginning. Every meeting, would you agree/
Matthew: Yeah sure.
Bob: We look at it – due to time we’re cutting it short – episode 62 is Build Rapport, 63 was setting the parameters, now we’re getting to buying motivators. Go for it Matthew.
Matthew: Ok. So with buying motivators we want to understand what the customer, what the buyer needs. It’s not just about making sure that the widget plugs into the dongle or whatever it is, it’s actually the outcome and the business outcome they’re trying to achieve. Now we call this 70/30 rule. 70% of the time, they’re talking, 30% of the time we’re asking questions, so at this stage there’s no time or space, unless you’re bad at math, there’s no space there to go ahead and start prescribing or saying we can fix something.
Bob: Can I interrupt Matthew?
Matthew: Sure.
Bob: Just add to it. Yes, 70% of the time they’re talking, but 70% of the time, you, the salesperson, have to be listening.
Matthew: Listening. Absolutely.
Bob: It’s not talking and asking questions, it’s listening to the answers and questioning them and getting them deep, so that’s good.
Matthew: Absolutely. So one of the things I found that clients will often ask a question about a particular product or service we might offer at this stage ‘do you have this particular widget? Or server, or dongle or whatever it is, and the correct way to deal with that is not to answer it, not to go ahead and say yes, because that doesn’t help your understanding about their needs. It’s about making sure that you understand why they are asking that question. So a person asks, oh, do you have this particular widget? Say, oh look, we’ve got a number of solutions available to us, is having a widget important? I had a situation the other day where he goes, oh not really I heard about it at a barbeque over the weekend and I was just asking. Ok, great. So what are the outcomes you are trying to achieve from that? Which moves them towards outcomes because salespeople need to be talking about value and outcomes not about how one thing plugs into the next.
Bob: Exactly.
Matthew: As we go into these buying motivators, we want to help them express their problem. Ask them how long it’s existed for, and I’m just going to rip through these reasonable quickly, how long it’s existed for? How does it affect the business? How does it affect the bottom line? How does it affect morale or how other people in the business operate with it? And then, you want to hit them where they live which is in their heart. We’re dealing with just B2B or B2C, business to business or business to consumer, we’re talking human to human. So we want to go that last layer deep, which is how does this affect you personally?
Bob: Exactly.
Matthew: And that’s the piece that’s going to help them drive. Because most people, I think about 70-805 of the time, people buy on emotion, and back that up with logic, not the other way around.
Bob: So basically Matthew, what you’re saying here, this is the time we get to open up and get the buyer talking about their problems, we’re taking notes, we’re digging deep, we’re questioning their answers, we’re using the rule of three plus that we talked about earlier, we’re using the strip line approach, how long’s the problem been there for, what have you done to try and fix it, why hasn’t it worked, how much is it costing them or their organisation, how does it affect them personally, so that you get to the personal pain, because people will always solve their personal problem before they solve a corporate problem. That’s excellent.
Matthew: Absolutely Bob. Couldn’t have said it better myself, you should write a book.
Bob: Alright, so we got a lot there in buying motivators but again, you’re not there to give solutions, you’re there to take notes and this is where the other little technique that we shared with listeners in earlier episodes is you know what you’re on page seven, I’m only on page two. There’s a lot of other things I need to know before I answer that, do you mind if I ask you a few more questions?
Matthew: Fantastic. I’ve used that myself just recently Bob. Somebody was asking me about the price and I didn’t actually know what they wanted to fix, what are the problems? So we moved away from that and keep finding out the issues.
Bob: Now that leads us to the next step, which is step four, financial ability. Of course I always say to salespeople, never be the first person to put money on the table. I look forward to seeing you next week it’ll be episode 65 and we’ll talk about step 4 in the Velocity selling system, finding financial ability.
Matthew: thanks very much Bob, bye for now.
Bob: Have a great week.
Matthew has been involved in the growth of many businesses across multiple industries including, health products, software development, IT consultancy, Real Estate and franchise sales with personal sales of over $100 million.
After all of this hard work Matthew took a year off with his wife and two children in Bali. After returning to Australia Matthew was ready to take on his next challenge, following his passion in Sales, and joined the Velocity Selling team as CEO.
