Money talks,
It’s a familiar saying. Money can make people crazy, and often just talking about money can bring a whole host of emotions to the surface. Living in a world of exchange, how can a salesmen talk about money without alienating or tanking his sales calls?
Some salespeople elect to not even bring it up unless the client asks, others choose to put it in the front. Context can be incredibly important when deciding when and where to address rates. Looking at industry standards might point you in the right direction, but what if it is still uncomfortable?
In Mattson’s book The Sandler Rules of Selling, two main points echo throughout the book. The first is that salespeople simply tend to talk too much. Following the 70/30 rule and allowing the client to speak for the majority of the time helps protect a salesmen from “going in blind” when cost comes up.
The second point is that in order to keep this 70/30 balance, the salesmen must ask good questions. Learning how to find the true pain instead of solving the perceived issue often leads to helping your customer with their real problem. This will increase satisfaction and trust in clients, and a more positive perception of your brand or company.
In order to listen, and ask good questions it is important for salesmen to keep control of the conversation. Using previous rules from Mattson’s book like answering a question with a question, not answering unasked questions or spilling candy in the lobby are three helpful points to keep in mind.
By following these, when you get to discussing costs with a client you should have a good grasp of the problem, their needs and willingness to purchase. Remember, customers often lie about budget and who makes decisions. Asking questions and listening allows the salesman to glean important information and present it in a way that makes the most sense for individual clients.
BoweryJE22
Very good grasp of knowledge of the reading and class material here. Well displayed information about the 70/30 rule and how understanding a customer’s pain point is very important. Money does talk and it will be interesting to hear from folks in the real world how much talking about money early on in a deal could stifle the business or if choosing to not even bring it up is the best option. I remember when DiDo came to speak he chose to not even mention pricing and let that be the obsolete variable.
This is such a good discussion on how to approach money well in a sales context. Bringing it up becomes less of a heavy issue when you are following principles like the 70/30 rule and trying not to spill all your candy in the lobby. Listening to consumer needs and discovering the essentials of their problem is key to handling money or other difficult sales aspects well.
As we learned in class, talking about money in sales calls can be tricky. Some just avoid the topic, while others tackle it head-on. Mattson advocates for a balanced approach: let the client speak, ask insightful questions, and maintain control of the conversation. By understanding the client’s needs and concerns, salespeople can address pricing effectively. Also, like professor Sweet said, listening and probing for genuine pain points are key to successful sales interactions. This was a great post, with great insight.