Jim Cathcart goes into detail about why relationship selling will help you increase your customer interaction so you can increase your transaction. This episode will teach you what you need to know to be a sales guru so you can start solving customers problems and selling more.Sign Up to Watch
-So it's performance time, the camera's rolling, the lights are on, the audience is there, and I get up and I'm Everly brother number one, and all I have to do is dream.
-And you're doing Cathy's clown.
INTERVIEWER: Oh, OK.
INTERVIEWER: Yeah, that's not going to work well.
-That's the partners that have not agreed on the focus. So one partner said, no, I want to focus on studios and equipment for studios. And the other one says, nah, I want to work with the high end professional photographers, the wedding photographers, people like that. OK, if you can both go down those paths, without creating a problem, but if you're making joint business decisions, just a full on partnership, you gotta pick a lane. You really do. You can be spread wide, or you can be focused very specifically, but you need to choose whichever of those it is, because the strategies that roll out from that choice are huge, and have big money implications.
-So, pick a lane.
-All right, so if I'm a business owner today, or a high-up manager, that have got these decision making powers, what action item do I do that's tied to the second competency--
INTERVIEWEE: For targeting?
-What do I do right now when I'm watching this? What do I--
-You need to do a profile of the ideal customer.
-In writing, in writing.
-In writing, the profile--
-If you could design your ideal perfect buyer, absolutely dream buyer. Oh my gosh, if we could get two of these a month, life would be wonderful. If we could get 20 of these, I could rule the world, right?
-Absolutely. And I just want to emphasize, if you're watching this and this is speaking you, press pause, take notes, this is huge.
-This is big. Write down the profile of the ideal and likely buyer. That's--
-And when I say profile, I mean identify as much information as you can that isolates this individual. So you say, OK, we're selling real estate, but we're selling real estate to corporate buyers.
-Residential real estate for corporate buyers. OK.
INTERVIEWER: It's specific.
-What does a corporate buyer look like and why would they buy residential real estate. Well they might buy it as an executive residence for their traveling people that come through town, and all come to this headquarters location and need lodging. And instead of sending them always to hotels, you have your own private place, you can hold conferences, and retreats there. All these always reasons for writing--
INTERVIEWER: Writing it all out is what you're saying.
-Yeah, write it all out. What does that person look like? What department is that person probably in? How much decision making authority do they have? What's the likely loop for decision making within a corporation for a purchase like this one? What are all the legal implications and things that we've got to make sure we navigate that, in order to get to the right people with the right permissions.
This could go off forever. Don't make it that much work. But just think about, who's the ideal person?
-Make that profile.
-Yeah. What industry do they come from? Which industries are most likely to have residential buyers in the corporate industry? Because some would never, and some would be absolutely predictable, right? You're thinking, OK, we have a company where IBM were headquartered in Airmont, New York. And we have people all over the world, and we fly them in for training. Fine, well IBM built their own conference, or acquired one.
-I've been there and spoken at that conference.
-I don't know if they built it or acquired it, but either way, they bought it.
-Right. And its task specific. It's staffed with IBM people, it's got IBM information in it, IBM systems throughout it, everything about it is very specific to the goal they have in mind. Wouldn't you'd love to be the seller that sold it to them?
-And if you--
--take the time there to write out that profile.
-And if there's one like IBM, there's one like Apple on the west coast. And there's one like Microsoft in Seattle, and there's one in Santa Cruz.
-It's so good.
-And you start going around the world thinking about, wow, look at all the customers we could have. Gee. So where do you advertise? Think about a chain of decisions.
INTERVIEWER: Sure, after you've--
-Where do you advertise if that's your target? Not in the local paper, no. And not on the iTunes website, no. And you don't just throw up a YouTube and hope they find their way to it. Where these people go is findable.
-So you're saying once you've identified that target, that's going to impact your marketing and everything.
-Every choice you make narrows the number of roads that you could take one. And every time you narrow those roads, you narrow the number of milestones along the road, the obstacles and distractions, right? So every choice I make eliminates the other choices I didn't make. And life gets easier and simpler, or harder assuming the path I took.
-But every choice matters, in preparation, in targeting, and then the big one, connecting.
-I love it. -So that's where we go from knowing who it is we want to talk with, we want to do business with, to actually making the connection with that person. -I love it. -And you notice, preparation is one set of skills. And there's research skills, analysis skills, strategic planning skills, organizational preparation, and linear thinking and strategic thinking and all that-- all of those are skill sets in the preparation area. Targeting, that's a different type of research, focused on buyer profiles, needs analysis, -Clear vision. - --that kind of thing. Yeah, absolutely. Yeah. And it's remotely. It's not through knowing the person that you talk to them. It's, you target them before you even know them, because the next step is to get to know them. That's where you find ways to connect with the people who might buy from you. -I love it. -You've teed it up perfectly. You've got to do that last action item, though. You have to have a clear target, write out a profile of that ideal buyer. Once you do that, you're ready for competency number three. Competency number three is connect. Connect. Establish truthful communication. Establish truthful communication. Again, all of these notable quotables are coming from Jim's book, but Jim, dive into that for us. Do a deep dive. What are you talking about here with this third competency? -Establish truthful communication. If two people get together, and they're totally willing to tell each other the truth, they can do almost anything they're capable of marshaling the strength to do, or the intelligence to do. They are really a force to be reckoned with-- -Why is that? ---if they tell each other the truth totally. Well, because then I don't have any energy going to defending myself, protecting myself. I don't have any distraction or energy going to reserving information, only for certain types of people. If I'm willing to tell you the full unvarnished truth all the time, then you actually can determine whether you can help me or not, and tell me the truth about it. And if you can't, neither of us is concerned about that, and we go, or you go, find someone you can help. So the last thing you want to do is the-- what do they call it?-- well, they call it a curiosity approach or something like that, and it was designed to lure you into a trap. Man, stimulate the curiosity, OK. But for heaven's sakes, be truthful from the start. -If you're calling it a trap, that may be an issue! And that's what's so incredible about your book, with relationship selling as opposed to this transactional selling. It's that mindset affects all of your actions. And you specifically just mentioned, the buyer won't be able to trust you and you're not going to be able to open up, and be able to have that clear communication. -If they don't give you the information for you to do a proper diagnosis, then your prescription's going to be wrong and may kill them. So you go into the doctor, Doc, it hurts when I do this. And the doctor says, OK, yeah, a lot of people have that problem. Here, take this. Well, excuse me, but I want to gather more information first! So hey, we've connected now. If I trust you, then I'm going to say, it hurts when I do this. But a week ago it didn't hurt, and I started doing such and such, and that's when the hurting started. Ah. Well, did you do this? No. Did you do that? Yeah. Well, there's your problem. Now then you've nailed it, but only because you got the truth for me. So the same thing's true if I'm selling membership services in the club. The thing I want to do is, I want to let you know that I represent this club, and this club has certain benefits to people like you. And the reason I'm talking to you-- meaning, targeting, right-- the reason I'm talking to you is because I know we can be especially helpful to you, because you fit the profile. If you didn't fit the profile, I wouldn't even call on you. -Right. And they won't be honest and truthful if they don't feel like you're trying to solve a problem. That's huge. That's the difference with the relationship. -See, that's the thing. I mean, Google has permeated our world and found out things about us, and some people-- ooh, Big Brother, and it's spooky and scary and all that. But if you think about that as model for you, the salesperson, that's what you want to do. You want to see the patterns of people. You want to say, you know what, these people would buy subscriptions to a dance lesson series. These people would buy computer software. These people would buy personal coaching services. These people buy fitness coaches, et cetera. And once you figure out who these people are, for you, then that guides you in how to connect with them--
[MUSIC PLAYING] -Let's say, let's say we're runners. OK? I like to run, you know? And, the two of us are runners. We like long distance running, but not ultra marathons. -Right. This is definitely taking the imagination from me. I'm just, I'm imagining-- -Let's say we like running like 5, 10 miles and things like that. And we like exploring. We like running outdoors and in new environments. And, someone has figured out what we read. What do we read? We read "Runner's World" magazine. CALEB TAYLOR: Sure. -We read "Outdoor Life," I'm making things up. -Right. -We read certain publications. OK, so if they want to advertise, where do they advertise? They advertise in those publications. They advertise on those websites. They find out who produces software for running watches and things like that-- -Right. - --and then they find a way to reach the people that bought those. They go to REI. They hang out, and they sit in on some of the classes on rock climbing and running and things like. They go to the people that manufacture running shoes and socks and garments and all that. The more they learn about runners, the more they can come up to us and say, hey, I understand you're a runner. Yeah, yeah. Have you seen these new shoes that have the [GIBBERISH]-- -Right, right, right. - --arch control. No. Tell me about that. You know, or I read about that in a magazine. And say, is that a such-and-such watch? Yeah, it is. -Right. -So, how do you use it most. Do you use all the functions, or just the-- Well, actually, I just do my splits and [GIBBERISH] See , that activity has its own language. So does every other activity. If you collect puppies, you have your own language about puppies. And, there's a language, there's a culture, there's a behavior pattern. There are places you go, there are things you read, or things you're interested in, websites you frequent. So, how do you connect with these people? Go where they go. And be like their friends. In other words, behave like people they already trust. Be like them, and they'll trust you. And assuming you're worthy of it. And, by the way, if you're not worthy of it, get out of sales. Go do something else. -This whole third competency on connect, it sounds like it's so heavily dependent on the second one, of having that profile, that target. I mean, that's what allows you-- -Most sales people think this is where selling starts. -Really? -Yeah. (FAKE ACCENT) I likes a call. I'm really good on cold calls. I could go up to anybody and strike up a conversation and sell them something. Well, shame on you. Because that's no way to treat people. You know, if you can sell, you can help me by selling? Cool, sell. But if you can't, don't manipulate me. -Right. -Right? -So, what's the action item here? We've got the action item for making the profile. But for this third competency of connecting after we've made the profile, we know who the target person is, and now it's time to connect. We already have that head start. JIM CATHCART: I think-- -What do we do now? - --it's really helpful to have a script outline, but not a script. CALEB TAYLOR: OK. -The script is the exact words you're going to say. Now, if you've been in business for years and there's a certain way of saying things that, you know, works for you. Write that down. That's a good script. CALEB TAYLOR: OK. -Because it came from you in real applications. But if not, then just identify the things you need to be sure and ask, and the things you need to be sure and say or do. Notice, I said ask before I said say or do. Because the first thing you want to do in connecting with is show your interest in them. And stimulate their curiosity about how you might help. Or their curiosity about their own needs. -That's huge. -Yeah, it is. -So you've said action item number one is, if you've got those sentences, those exact words, you want to put that. You've been in the industry for awhile, script that out. -But if you don't have them, try someone else's that's a proven performer. -Right. -Try theirs for a while. -Find a GOAT. Like we call them here, the greatest of all time. -Greatest of all time, that's good. OK. Find a, find a greatest of all time to mimic at first-- -OK. - --until you get your own chops developed. And then, you can use your own wording. -And then action item number two, when you're focusing on connecting, is to show so much interest in them, initially. -Yeah. Because if you show enough interest, sincere interest in them, then they're going to get it. And, so, all their defenses drop. And now, then, you can go into the assessment stage, where you're assessing their needs and their wants. And there are no barriers. -Right. -You're not saying, I really need to know this, because if I don't know this, then I can't really be of great service. So, would you please, please, please, tell me what I need. No. If you go into it with the trust already established or already growing, then they say, hey, you know, there's something else that's been bothering me. Could you help me with this, too? And do you guys sell these great big expensive things, because we've been wanting one of those. Well, yeah. I can find a friend that doesn't get a commission. You know, whatever. Sure I do. Yeah.
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