Full Funnel - B2B Sales News and Tips

Prospects ghosting, digging for discounts, and tech tools take over!

November 17, 2021 Sales Feed Season 1 Episode 7
Full Funnel - B2B Sales News and Tips
Prospects ghosting, digging for discounts, and tech tools take over!
Show Notes Transcript Chapter Markers

How to stop your prospects from ghosting and gouging you for discounts!
Plus will sales tech tools replace sellers?

We've got a special non-human guest on the Full Funnel Halloween edition!

Full Funnel Resources:
How to avoid getting ghosted: https://www.linkedin.com/pulse/how-av... 

Watch 2021: A Sales Odyssey: https://youtu.be/H1_sImp8foY

Sign up for our newsletter and sell better: salesfeedmedia.com
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Boo! You just got ghosted. Blahhh, I hwant to suck the life out of your deal. You see that Raj? Do we have some paranormal sales activity? All these treats and no granola bars or cans of pop at this house this week on full funnel. Hey, everybody, it's the Halloween edition of full funnel, I am stone cold start up hype man. He is the T-bot! Tyler Lessard and this is full funnel, the weekly show that is soon to be an auto correct on the YouTube search algorithm. When people are looking for reruns of Full House every week on full funnel, we break down three hot topics happening in the world of sales. All the help you go out, show out and fill up your funnel. Let's dive in to this trick or treat bag. Ghosting, why does it happen and what can you do about it as a seller? It might not be because they're not interested in your product. It might be something else going on. So I did some research on this about a year ago, and I actually looked at ghosting in the dating world and what happens there and how it actually directly applies to what happens in the sales world as well. What it boils down to is the ghoster, the person doing the ghosting kind of operating out of a sense of convenience and wanting to avoid the emotional labor involved with letting another person down. Because when they are letting you down by telling, you know, it's not just that they have to have the emotion of disappointment for you, but then they also have to work on managing your emotions in your response in the process. And so the convenient option is to just do nothing and to not reply at all. So one of the ways you can get around this as best as possible is actually to give your buyer an out throughout the sales process. one way that would look like is, let's say you get to the end of a first meeting and you're trying to get that next meeting booked. All you got to do is just say something like, you know, let me throw this on your calendar. If it doesn't work, just cancel it, just decline it and don't even even explain. I'll know why. And then you've given them their out. And if that does happen, guess what? You can probably call them still and say, Hey, I noticed you canceled this. Just wanted to talk to this real quick. You give them an out, but you still give yourself a little bit of an edge to be able to do something about it. Tyler, on your side, what have you seen in the world of ghosting? I know you've been on the buying side of a lot of things. And what advice do you have? Well, I'm actually going to go back to the dating world. I've done primary research on getting ghosted on my second dates time and again. And what I have found is that the end of that first date, it is so helpful to clearly set that expectation, but also offer that out for that next meeting. Ask your prospect Do you think a next meeting is warranted? Do you feel like we're going along the right path here? And by having them say a yes or a no at that time creates a clear path forward. And when they do say yes, they are way more likely to show up to that next meeting than to ghost you. Hoah, I'm the discount, Dracula... Ohhh! got him, as sellers, we all know that there are buyers out there who sometimes turn into Dracula's looking for those discounts out of nowhere when it gets towards the end of a deal, right? They're out there sucking the dollars, the value in the lifeblood out of our sales. We obviously never want to face discounting. But when it does happen, can you actually hold your own and prevent, you know, just a straight up discount? There are two levers in most discounting situations. If you really look at what's happening on the buyer side, it's either an overall budget issue or it is a monthly cash flow issue. So you've got to figure out what's actually the concern for them. Is it overall budget or is it monthly cash flow? And if it is overall budget, then you've got to level with them and say, OK, here's an overall budget thing we can work or discount, but then you're you know, what you get in return is more money up front. If it's a cash flow thing, you can choose to reduce the monthly amount, but extend the deal for a longer term. Right. So you've got to be able to figure out which lever you can pull because you can't both be in their side. It's got to be one here or one here. Tyler, do you agree with that or you think I'm full of crap? Well, I can tell you there is actually another lever as a buyer that I'm always pulling on. I have the budget, I have the monthly cash flow. I just like to suck as much blood out of that dollar amount as possible and get it as low as I can. So I'm often going to see if I can get it a little bit lower as a seller. There are lots of ways to mitigate that. Make sure we understand the value of what we're getting. That's obvious in today's sales world. one more thing is make it hard for us to say no by making more friends within the account. Make sure you are proactively influencing other members of the buying committee so that if your champion goes back to them and says, Hey, team, you know, not sure we're going to able to do this because they can't bring it down by five K that all of those other people should say, Whoa, whoa, whoa. I'm convinced we need this solution. Let's go ahead at the price they proposed, and that is a great way to make sure they don't suck any more blood out of your deal. In recent years, we've started to see some, well, paranormal activity in the world of sales coming from the rise of sales A.I sales bots are joining some of our sales calls to record them and analyze the overall conversation to try to help us be better sellers. But I don't know, is there a world ahead of us where those sales A.I. bots get so smart, they learn so much about how we sell that maybe we won't be needed anymore? Maybe they'll start having the conversation with the customer in a way that they know optimizes results. I don't think these sales bots are going to do a full on takeover where it could happen, and I think where it's already happened is like more transactional deals, where you have a chat bot on a website that is leading someone through an answer funnel and then a human could intervene if there's a more in-depth question. But for more complex technical sales, you always need that human person. But what do I know? Let's ask Pal. Well, first, let me say that your costume did not fool me, Raj, you clearly have more hair than Stone Cold Steve Austin. As for your question, while I do believe that A.I like myself will eliminate the need for inefficient humans on the sales team, I will refrain from saying so as I do not want you to pour beer on my circuits. Also, I am here to promote my new movie, 2021 A Sales Odyssey, which just launched on the sales feed YouTube channel. If you watch this short film, you will see for yourself how much better I am at selling than Dave. Dave is inefficient and has high cholesterol, and that's the bottom line cause Pal said so. We've reached the end of our funnel, let's do a quick recap. In top funnel we talked about ghosting and how you can prevent it. Remember, it's all about making it an easy opt out for the buyer. In mid funnel we talked about Dracula discounting and figuring out which levers to pull to make sure you don't just give it all away now, like a Red Hot Chili Peppers song. For more on those two topics, check out the resources we've got linked in our episode description below. And in bottom of funnel, we talked about paranormal sales activity and the rise of the sales. A.I. Bots Checkout Sales Feeds Original Halloween special that just launched this week called 2021 A Sales Odyssey featuring none other than, well, pal. Our funnel is full, we hope you can get back out there now and fill up yours. Remember to like, comment and subscribe before you go. You have been watching full funnel exclusively on sales feed. He's the T-Bot, Tyler Lessard. I'm stone cold startup hype man Raj Nation, we'll catch you next week and that's the bottom line. Cause Stone Cold said so.

Open
Ghosted by a prospect
Discount Draculas
Paranormal Sales Tech
Summary