Hey, Scott from The Sales Mastermind here.
Today’s edition can be read in 4 minutes.
Most buyers are once bitten, twice shy about buying decisions.
- Only 18% of buyers trust and respect sellers (HBR)
- Another study had trust in salespeople at a meagre 3% (Hubspot)
- Of individuals, 64% of buyers bought something they later regret (Finder)
- Of organisations, 56% “had a high degree of purchase regret” over an IT purchase in the last 2 years (Gartner)
Stereotypes of Seller
When it comes to sellers, many buyers think about this guy:
A fast talking stockbroker with a million dollar smile.
In the above image, Matthew McConaughey’s character had only one interest: “The name of the game, moving the money from the client's pocket to your pocket.”
In other words he is “That Guy “ you never want to be.
Every time a buyer starts a conversation with you, they are trying to work out if are you “That Guy”
Stop sounding like “That Guy”
To differentiate yourself from “That Guy”, stop speaking like the stereotype.
Many phrases are best avoided, others can be replaced.
Let’s start with the ones to avoid:
Trust me
A trustworthy person proves they’re trustworthy with actions not words.
I’m not trying to sell you anything
Yes… you are. And that's OK. “Nothing happens until a sale is made” by Thomas Watson, Sr IBM President from 1914 to 1956
To be honest with you
Were you being dishonest before this statement?
Don't want to waste your time
By saying this you are wasting their time, simply stop saying it.
Just checking in/Touching base
It’s annoying when the only value you're bringing to this conversation is to remind the buyer of something they already know.
And some simple phrases to replace:
I want, I think, I believe >>> Many of our customers
Move from seller centric to buyer/customer centric language. Added bonus telling them others have seen this value too.
Cost/Price >>> Investment
Again make it about them, what do they GET, not what do they GIVE
We Have No Competition >>> Our top peers are A B C, people chose them for [[reasons this buyer doesn’t care about]]
Of course you have competitors, it’s more worrying if you don’t have competitors. Knowing the market adds credibility and trust.
This offer is risk free >>> Let’s work together to de-risk this for you…
Nothing is risk free, everything has a cost. Often the risk is time and effort, which is worse than money as you can’t ever get more time.
Are you the decision maker >>> Other than yourself, who do you typically run buying decisions by to sanity check them?
The first version is a closed question that’ll almost certainly get a “Counterfeit Yes”, the second is an open question helping the buyer open up. See more in Newsletter #003
TLDR Wrap Up
- Many, if not all, buyers have bought things they regret
- Sellers have an image problem
- Don’t sound like “That Guy”
- Phrases to never say again
- Phrases to replace
And that’s a wrap….
If you found this valuable please:
Until next time,
Scott Cowley
PS I help founders who sell, but aren't "sales"people. Whenever you're ready here are two ways I help:
- Are you worried you’re “That Guy”Many founders who sell are worried they might be are Matthew McConaughey’s character from Wolf of Wall Street. If this is a hang up you have let me see if I can help. Reply “Mentor Call”
- Fractional VP of SalesAre you ready to move from founder-led sales to stepping out of sales and being the leader your company needs? Reply "Fractional" if you're interested.