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Understand your real ROI

Challenging your sales approach and understand your real ROI

 

Addressing sales with a different mindset.

Some people when they’re going through a sales process, when they start doing sales, they change who they are. So they sort of become this really pushy sales person, or they just feel they have to say certain things, or they have certain language patterns that are very specifically salesy et cetera.

The truth about it is, what I said to them is, imagine that you’d already had the sale, and you were meeting a brand new client, how would you converse with them, right? You’d be talking about their problems, how can you help them? You’d be questioning them, you’d be consulting with them and everything else. That’s how you should be selling. What a lot of people do, they go into sales mode ’cause they’re doing a sales call or a sales meeting, and then they start selling, they start pushing, right? Pushing at people, start pushing their products, you know, pushing their whatever it is, their agenda et cetera.

The truth of the matter is, all sales really is, is a consultation to work out a number of things.

Number one, what is your problem? What is it that you’re facing? What’s holding you back from doing what you want to do? And kinda how is making you feel, and what’s that stopping you from achieving? And everything else.

Then working out how you can help them solve that problem. How you can give them the gain they’re looking for, and remove the pain that they have. And then on top of that, is we’re just working out are they a right fit for you, and are you the right fit for them? That’s exactly what you would do, if you had a brand new client. You’d sit there and say, well what’s your key problems? How can I help you? How can we get to the bottom of this? How can we solve this together? It’s the same conversation, except it’s with a client that isn’t yet a client. Don’t change who you are! If you’re, you know a consulted person, and you question your clients, and you know, you work with them to help solve their problems, take that energy into the sales meeting or the sales call. Don’t suddenly go into like, you know, sales person mode just because you think you should be, because you’re doing sales. I thought it was a good giveaway there. ‘Cause a lot of people back away from sales ’cause they don’t wanna be that kinda wanky sales person. You know? They, I say don’t change it! Be the nice guy! Be the, you’re in business to help other people, try to help people to either achieve something, or to remove some problem or pain in their life. So just take the same energy into a sales consultation. It doesn’t have to change who you are and how you approach working with people.

Sales first.

Just do your sales meeting first thing in the morning, do your sales meeting first thing on a Monday, first of the month, just look at your sales opportunities, and look at your prospects and et cetera, your opportunities for that month. Do that first, it will literally transform how your business operates, how it’s run, and ultimately the success and the results that you achieve. I’ll check in with you in just a little bit. Have an awesome one.

Okay, so a perfectly well timed catnap. If you know me, you know I love one about 20 minutes or so, no more than that. Otherwise you’ll be super groggy for the rest of the day. Any less than that of course, you’re not refreshed. So perfect timed catnap, and here we go to do it all over again with this evening’s Success Group. I’ll share some tidbits after the session with you, that I think you need to hear as a business owner.

One of the things I talked about was understanding ROIs, return on investments. That’s really important to understand, what is the actual ROI that you offer? However, the ROI is a return on the investment. So you also need to understand, what is the investment that you’re asking your potential clients to make? So there’s three real categories, that you are asking your clients to potentially give to you. Right?

Number one is money. They’re gonna pay you a certain amount of money to use your services or to buy your product. Number two, the amount of time that they’re gonna need to invest with you, in order to get the result that you’re giving them.

And number three is the amount of effort. Now that effort will be a combination of physical effort, potentially, so real, genuine effort okay, workload. Plus also, emotional effort or emotional commitment. And depending on what your product is, and depending on what the problem is that you solve in your business, will depend on how much of each of those are.

It’s possible that you have a low cost product, but it might require them to invest a certain amount of time or maybe invest emotionally into it, or even put some real energy, physical energy into it.

It’s possible that it’s really expensive, and they’re gonna have to invest a substantial amount of money, but maybe not a lot of time, and maybe not a lot of effort or emotional investment.

Maybe it’s a combination of all those three, and you need to know what it is you’re actually asking from your client, but also understand the weighting system that your client’s gonna put on each of those.

If you have a very cash-rich client base, but they’re time-poor, just expecting them to just give you, you know, like an hour every day or two hours a week, or five or, you know, be very mindful of throwing out these things where you sits there and say something like, you know, for just one hour a day, or for just one day a week.

If you’ve got a time-poor client, it’s not just one day a week, or just one hour a day. Okay, does this make sense? The money might not actually be the biggest investment they’re making, even though it may or may not be an expensive product they’re investing in. So just be really mindful about what it is you’re asking your clients to commit to.

But also understand that there’s a weighting system there that they might have, ie. the money might not be that important, but maybe the time is, or maybe the time’s not important but the money is, or maybe the physical investment is. So be mindful of that.

Second is, once you know what you’re asking from them to commit, the next thing of course, is you need to massively return against their investment. So the most obviously one always is if you can give someone a direct monitory return on their investment, their financial investment, that’s always gonna be the easiest one to justify. So if you know, you’re gonna commit a hundred quid to me, and I can get you five hundred quid back, that’s a simple justification. Does that make sense? But of course, you’ve still gotta take these other things into effect. It’s not just about 5 X the financial result. It’s also about understanding the investment in the other areas that they’re putting in.

It’s making sure that your ROI is massive in comparison to what they’re putting in. You need to make sure that this scale, from what they’re putting in, based on what the rewards you’re returning them, has to massively tip in favour of the returns. Does this make sense?

For a person to be able to truly justify a big commitment, it needs a much, much bigger return on that commitment.

So just bear that in mind when you’re in your sales process. It’ll really help you to put a compelling case forward to your potential prospects, and turn them into customers and clients.

BBB, the home of entrepreneurial

MINDSET. ATTITUDE. SUCCESS

BBB takes a completely unique approach to your success. We have tried and tested methodologies, systems and processes that help you take the guesswork out of your success. We are laser focused on personal development. We are experts in getting you to influence the 95-99% that is getting in the way of your success and we are laser-focused on delivering you excellent results.

 

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