Podcast Summary
High ROAS in sales is crucial for success: Achieving a high ROAS in sales through practice, experience, and scaling teams is essential for growing and successful businesses.
Having a high return on ad spend (ROAS) in sales is crucial for success. The speaker shared his experience of having a 36:1 lifetime ROAS, meaning for every $1 spent on advertising, they made $36 in revenue. He emphasized that sales is just one component of making more and growing businesses, but it's an essential one. The speaker also highlighted the importance of getting good at sales through practice and experience. He shared his journey of selling in-person for thousands of hours, which helped him become an effective salesperson and eventually train others. He also mentioned the importance of scaling sales teams and having multiple closers to increase productivity. Overall, the key takeaway is that having a high ROAS in sales and continuously improving sales skills are essential for growing and successful businesses.
Simplifying Sales Process for Scaling: Start from scratch and build a successful sales operation through a simple yet effective approach, never compete on price again, and scale a team for businesses exceeding $100,000 a month.
Simplicity is key to scaling a sales process, regardless of the size of your business. The speaker, who has extensive experience in various sales roles and industries, emphasizes that an efficient conversion process is crucial for generating outsized returns. He shares his personal experience of starting from scratch after a financial setback and building a successful sales operation through a simple yet effective approach. He invites the audience to learn how to never compete on price again if they're under $100,000 a month, and how to scale a team for businesses exceeding that threshold. The presentation aims to cover both the selling process and the scaling of sales in the remaining 40 minutes.
From Giving Back to Entrepreneurship: Overcoming Challenges: Through resilience, innovation, and a strong work ethic, one can overcome business challenges and achieve significant growth and success.
Starting a business and overcoming challenges can lead to significant growth and success. The speaker's journey into fitness and entrepreneurship began when he realized the opportunity to give back to those less fortunate. Through hard work and determination, he was able to donate over $1.7 million to various causes in the last 3 years. The speaker's admiration for Arnold Schwarzenegger also played a role in his career, inspiring him to quit his job and start his own gym. However, the business world isn't without its challenges. The speaker faced a significant setback when his marketing costs skyrocketed, leaving him struggling to make ends meet. In response, he adapted by focusing on selling high-priced products on the front end instead of offering free trials. This change resulted in a 10-to-1 return on investment and allowed him to affordably acquire more leads, leading to further growth and success. Overall, the speaker's story highlights the importance of resilience, innovation, and a strong work ethic in achieving business success.
Three frameworks for scaling high-ticket sales: Ask the right questions (closure framework), control tone for success (conviction framework), and duplicate sales skills (scaling framework) to scale high-ticket sales in various niches.
The speaker discussed three frameworks for scaling high-ticket sales: the closure framework, the conviction framework, and the scaling framework. The closure framework focuses on asking the right questions to get prospects to say yes, making any sales process more profitable. The conviction framework emphasizes the importance of controlling one's tone to outperform even experienced sales reps. Lastly, the scaling framework teaches duplicating sales skills in others to increase revenue without being time-constrained. These frameworks have been successful in various niches, including physical therapy, dentistry, real estate, home services, float tank centers, and education or coaching.
Understanding Customer Needs and Overcoming Objections: Focus on understanding clients' goals, acknowledging their problems, and committing to following through with the solution to effectively sell and build strong client relationships.
Effective sales involves a systematic approach to understanding the customer's needs, addressing their concerns, and consistently reinforcing the decision to use your product or service. This process includes clarifying their goals, acknowledging their problems, and overcoming past failures by providing missing pieces to complete their solution. By becoming a consultant and problem solver, you can naturally transition into presenting your program as the missing piece they need. Successful clients have three things in common: they understand their goals, acknowledge their problems, and are committed to following through with the solution. By focusing on these elements, you can guide potential customers through the sales process and help them overcome their pains.
Three key elements of effective sales pitches: Focus on 3 human needs or solution pillars, use relatable stories, ask questions, and keep pitches brief to build rapport in 3 minutes.
Effective sales pitches focus on no more than three key elements, which are typically human needs such as timely, qualified, and exclusive leads, or pillars to a solution like accountability, exclusivity, and results. When communicating these elements to prospects, it's important to use relatable stories and avoid jargon or technobabble. Prospects are more interested in the outcome than the process, so keep pitches brief and focused on their pain points and feelings. Effective sales communication involves asking questions, restating their concerns, and using anecdotes to break their beliefs. The goal is to make the prospect feel understood and build rapport, rather than focusing on the specifics of the program or solution. A successful sales pitch should last no longer than three minutes.
Connect with customers through effective sales techniques: Use relatable language, ask thoughtful questions, and offer anecdotes to build a connection with customers, focusing on their needs and desired outcomes for successful and pain-free sales.
Effective sales techniques involve building a connection with the customer, actively listening, and addressing their concerns. This can be achieved by using simple, relatable language, asking thoughtful questions, and offering anecdotal stories to break common beliefs. The goal is to sell the "vacation" or desired outcome, rather than the technical details or obstacles. By focusing on the customer's needs and making the process enjoyable, sales can be more successful and pain-free for both parties. This approach can be applied to various industries and products, as people generally want solutions that are easy and enjoyable to implement.
Understanding the customer's problem and demonstrating a solution: Focus on the customer's needs and concerns, effectively articulate the value of your offering, and be prepared with stories to guide the conversation when resistance arises
Effective sales involve understanding the customer's problem and demonstrating how your product or service can solve it. The key is to be efficient with your words and targeted in your questions, ensuring you hit the necessary milestones in the conversation. It's important to sit in the customer's pain and clarify their reasons for seeking a solution before asking for the sale. Remember, they only care about their own needs and concerns. If a customer raises an objection, such as cost, it's a sign that you haven't effectively articulated the value of your offering. To be successful in sales, focus on the customer's problem and how your solution addresses it, rather than talking too much about the product itself. Additionally, always be prepared with stories and obstacle overcomes to help guide the conversation when you encounter resistance in the red zone.
Understanding Prospect's Needs, Articulating Value, and Addressing Decision-Making Stalls: Effectively selling requires focusing on the prospect's pain points, clearly communicating product value, and addressing decision-making stalls by acknowledging fear and using techniques like past agreements or a delayed close.
When selling, it's essential to focus on understanding the prospect's pain points rather than just the product. Misarticulating their problem can hinder the sales process, even if the salesperson knows the product well. To overcome price objections, effectively communicating the value of the product to the prospect is crucial. Additionally, addressing decision-making stalls involves acknowledging people's fear of making mistakes and the desire to avoid responsibility. By understanding these underlying motivations and using techniques like relying on past agreements or a delayed close, salespeople can help prospects feel more comfortable making decisions. In summary, focusing on the prospect's needs, clearly articulating value, and addressing decision-making stalls are key to successful sales interactions.
Effective communication during sales closing: Empathize with objections, articulate value, build trust, communicate clearly, understand tonality, and ask open-ended questions to close sales effectively.
Effective communication and understanding the customer's concerns are crucial in closing a sale. During the closing sequence, it's essential to establish if the solution meets their needs, if they like the product and the company, and if they have the means to make the purchase. Objections, such as price or decision-maker, should be addressed with empathy and by articulating the value of the product. After the sale, clear and consistent communication is necessary to build trust and establish a long-term relationship. Additionally, being aware of the importance of tonality and asking open-ended questions can significantly impact sales performance. The book "Controlling the Sales Conversation" by Jordan Bofford was a valuable resource in understanding the importance of tonality and how it can influence sales outcomes.
The power of tone in sales: Believing in a product allows salespeople to speak passionately and genuinely, improving sales effectiveness
The way we say things (tonality) is just as important as what we say (words) in influencing prospects and making sales. While the words provide the logical influence, the tone provides the emotional influence. To master this, one can either train themselves or trick themselves into it. Conviction in the product is a powerful tool to correct tone and make sales feel authentic. Believing in the product allows salespeople to speak passionately and genuinely, making the selling process more effective. Ultimately, having a strong belief in the product is the foundation for successful sales.
Believe in the product to maintain conviction: Believe deeply in the product, read testimonials daily, and fix any issues to become a world-class closer.
World-class closers never get cold and maintain their state by harnessing conviction as a weapon and recreating it consistently. They focus all their attention on the prospect, not on the script. To achieve this level of conviction, salespeople should believe in the product they're selling and read testimonials daily to stay motivated. Business owners should also fix any issues with their product and never blame customers for lack of success. By putting in the necessary effort and truly believing in the product, salespeople can become evangelists and close deals with ease. Belief in the product is not binary; it's a matter of degree. The more convinced you are, the more successful you'll be in closing deals. Tone also matters, as it can influence how listeners perceive the importance of the words being spoken.
Believe in your product and genuinely care about your prospect: Improve yourself and your product, convey conviction, and genuinely care for prospects to close deals effectively.
To be successful in sales, it's essential to have conviction in your product and genuinely care about your prospect. This conviction comes from continuously improving yourself and your product, ensuring it's the best and easiest option for the client. By believing in what you're selling and showing that you care, you can unconsciously convey the correct tone and ultimately close deals more effectively. For more insights, you can find me on Instagram @AppleMosey, YouTube as Alex Romosey, or listen to my podcast. I've also written a book called "Alex's Book" available at alexsbook.com, featuring 35 pages of obstacle overcomes in the appendix. While there's a suggested sales price of $100, I believe in the value it provides and encourage you to check it out.
