Hey, there.
I'm Dan Martell, serial entrepreneur, investor,
creator of SaaS Academy.
In this episode, I'm going to share with you the five
decisions that your prospects make in their mind
before buying your product to help you increase the win
rates on your sales demos and really just better train
your salespeople if you're moving from founder-led sales
to a sales-team-led sales.
And be sure to stay the end where
I'm going to share with you how to get access my Rocket Demo
Builder to help you close deals twice as fast at twice the win
rate.
So recently, I was doing a coaching call
with one of my SaaS Academy clients,
and they were frustrated because they'd just
hired a new junior account exec-- essentially
a salesperson-- and they weren't closing at the win rate
that they were hoping to.
So I sat down and understood their challenges,
asked them about their training program,
and realized at a high level they just never explained
the five decisions that the prospect needs
to make that needs to be true for them
to feel comfortable to move forward and buy from them.
Once I showed them those five and they explained it
to their sales rep, within two weeks,
they increased their conversions by 20%.
So what I want to share with you today
is exactly what I shared with them
to help you understand the psychology and the steps
involved in getting people to buy from you and your sales
team.
Number one.
Trustworthy.
At the end of the day, if you don't come across
as a sales individual-- so I'm just
going to say you as in your sales team.
If they don't come across as somebody that's trustworthy,
then you're not going to get the deal.
For example, how many times have you
talked to somebody trying to sell
you stuff and all you can smell is their commission breath?
They're like super like salesy and they're not listening.
And they're just trying to get you to buy stuff that you
know you don't even need.
At the end of the day, if the person doesn't
feel like you understand them, that you understand
the reality, that you're not trustworthy in regards
to the way you're talking--
if I feel like you're just going to sell me anything,
I'm not going to buy.
So the first thing, above all else,
is how do you establish that trust right off the bat?
Number two.
Does the product solve their problem?
The biggest mistake that junior salespeople make
is that when they're showing people a product tour,
they're essentially touring the product.
They're not demoing the solution.
The way I think about it is I need to truly understand
the frustrations, the pains, the challenges the prospect has in
regards to their reality so that I
can customize the way I'm going to show our product
to get them to understand that our solution can solve
their problem.
If that's not present, if there's anything left out,
if they just feel like you can get 70% of this thing solved
but not the other 30%, even if you could--
this is the sad part when you actually do some audits
on sales calls--
even if you could, because you're like, oh, my gosh.
You forgot to say this, and we actually solve that problem.
They're not going to buy.
You need to make sure that you truly
understand their full spectrum of needs
and use your product demo to demonstrate
how your features solve their problems to deliver the benefit
that they're driving for.
That doesn't exist?
There's no sale.
Number three.
Is it affordable?
Now, I know you're thinking, this thing is a no-brainer.
Everybody should be buying this.
This should be flying off the shelves.
Every demo should close 100% win rate.
Here's the reality.
Your prospects have other decisions.
They're looking at the competitive landscape.
They're evaluating your solution against doing nothing
because the reality is is that is an option.
So it's not about, do you add enough value?
Is it do they feel it, comparing themselves
to the alternatives, the competitive set,
to decide if the ROI is there?
Is it affordable is a real thing.
I think [? some of these ?] salespeople are like,
this is so cheap.
This is a no-brainer.
No there's real realities.
There's budget realities.
There's their implementation costs
that you're not even considering around affordability.
It's not just the money.
It's not about just writing and check and giving it.
It's, is this product to make me work a lot?
That's the affordability.
Can I afford the time and/or financial investment
to get this thing to deploy so that I can get the results?
So affordable is a big part.
Number four.
Is the company dependable?
Is your company dependable?
Think about this.
If I'm going to buy a solution--
I've been burned so many times in the startup world
where I invest time and energy, deploy a technology,
some weird marketing tool, and all of a sudden,
the company shuts down or their funding doesn't happen
and they go on life support.
Their support starts to just be horrendous, whatever it is.
So what I'm looking for now, before I make a decision,
do they have a good financial background?
Are they bootstrapped?
Because typically, if they're bootstrapping,
they've been around for a long time.
It's more stable than short, not been
around a long time, high funding--
especially if you're going to invest
a lot of time and energy.
Case studies.
Are other people out there like me and--
if I'm the prospect-- using this product?
And I'm like, oh, OK, so they trust that person.
They must be dependable.
Do you as a salesperson do what you say you're going to do?
If you say, I'm going to follow up with the material
and it's a day later, then you've just
given them a little hint that you're
not as dependable as you said.
If you're saying at the beginning of your demo call,
your sales call, this is what we're
going to accomplish today, and you don't do that
and you use that as a bait-and-switch,
you're not dependable.
Sometimes it's there's something wrong with the company,
the reviews.
You're not leveraging reviews, like Capterra
or other sites like that, to build a public-facing review
site for trust and credibility in the market.
So you need ask yourself from a dependability point of view,
am I demonstrating or do I have the assets
to be able to demonstrate to a prospect that we are?
Because if not, you've got to fill that.
Your salesperson can't sell against that if there's a gap.
Number five.
Is it a now thing?
For me, when it comes to sales, if you ever hear somebody say,
this sounds great.
Why don't you send me a proposal?
Send me the information.
I'll think about it and get back to you.
Or somebody says, hey, we evaluated it,
and it just doesn't feel like it's a now thing.
The reason, most of the time, that that happens
is because you didn't push the pain.
And what I mean by that is you didn't
talk about the impact of their challenges, frustrations,
or pains in their business models or the lack of results
that they want to achieve and talk
about quantifying that pain.
So if you can't help them understand
why this software, this deployment is a now thing,
then you're never going to be able to get
them to pull out their credit card and buy your technology.
So understanding that, really, to me, the sale
is made at the beginning.
It's in the setup.
It's in the frame.
And at the end, you're going to hear these objections.
And those only show up because you didn't do the work.
You need to talk to them about their timelines
and understand that we need to show them
that if they solve this, it's a sequence of success.
And using our technology will help them get to that outcome
that they're looking for, and always
understand that there's a business outcome they're
trying to achieve.
And then there's a personal outcome,
which is more about them that a lot of salespeople
don't even understand.
If you're going to help somebody manage people better, make
better buying decisions, improve the sales
velocity as a VP of sales, those things
are going to reflect positively on the individual as well
as the business.
They're also thinking about themselves,
about getting recognition and potentially getting
promotion, et cetera.
And if you don't speak to any of that, then why would
they make that a now thing when they can just
do what they've been doing now, make
some incremental improvements, and maybe revisit
things in the future?
So figuring out how do you communicate and create
a sense of urgency to front-load,
prioritize your solution before others
is a key thing that all great salespeople have mastered.
So quick recap.
Five core decisions that people make before they
buy your SaaS product.
Number one, are you trustworthy?
Number two, does the product solve my problem?
Number three, is it affordable?
Number four, is the company dependable?
And number five, is it a now thing?
So as I mentioned in the beginning of this video,
I want to share with you an exclusive download called
the Rocket Demo Builder.
Now, it is a worksheet with all the different five
hot principles that you need to understand to really deliver
a Rocket Demo to help you close your deals twice as fast.
If you implement each one of those steps
in your next call for yourself or for your team,
you're going to increase your win rate.
So be sure to click the link below to download your copy.
And if you have found this video useful,
be sure to smash the Like button.
Subscribe to my channel.
If there's anybody that you care about
that you think this could serve, feel
free to share this with them directly.
And as per usual, I want to challenge
you to live a bigger life and a bigger business,
and I'll see you next Monday.
And you're going to learn how to train your salespeople better.