Dan Martell - How To Overcome The Top 3 Sales Objections In Your Software Demo

00:00:00.000 Hey there, Dan Martell here, serial entrepreneur, investor,

00:00:02.260 and creator of SaaS Academy.

00:00:03.500 In this video, I'm gonna teach you the three,

00:00:06.300 well, I'm gonna talk about how to overcome them,

00:00:07.680 the three top sales objections that are coming up

00:00:10.540 in your SaaS demo and how to overcome them and deal with them

00:00:13.640 and add a little ninjitsu to the process

00:00:16.060 to keep the conversation flowing and get that resolved.

00:00:18.780 And be sure to stay at the end where I share with you

00:00:20.760 how to get my Rocket Demo Builder process.

00:00:22.920 Essentially, I'm gonna cover the five principles

00:00:25.660 you need to be including in your sales demos,

00:00:28.360 including the nine box model flow of the call

00:00:31.500 and the conversation to be able to convert

00:00:33.380 twice as many customers and not do a crappy,

00:00:36.860 what I call a product demo tour.

00:00:51.800 So over the last 20 years, I've sold millions of dollars

00:00:54.940 in software myself.

00:00:56.780 I started off as a programmer.

00:00:58.840 I wrote code.

00:00:59.720 I was introverted.

00:01:00.980 I stayed up till three in the morning writing software.

00:01:03.380 That's what I did for several years and I decided I needed to

00:01:07.160 learn how to communicate.

00:01:08.600 Like literally at the end of the day I was trying to build

00:01:10.400 businesses and I kept failing.

00:01:11.560 Build another business, I kept failing.

00:01:13.300 Then I bought a book, a little red book of selling by

00:01:16.100 Jeffrey Gittermer and I was like, oh, there's a process.

00:01:19.460 Oh, it's not super shady and schemey and doesn't feel icky.

00:01:23.640 and oh, it's about servicing and adding value

00:01:26.980 and helping people get results and all these other things

00:01:30.320 and I just kept going on that process

00:01:32.880 to the point where recently my last company, Clarity.fm,

00:01:35.720 I was selling annual packages to,

00:01:38.120 so Clarity was a marketplace for entrepreneurs

00:01:41.660 to get advice over the phone from other entrepreneurs

00:01:43.560 and experts and I was pre-selling annual contracts

00:01:47.140 with VC firms and other corporations

00:01:49.240 to give access to their portfolio companies or their people

00:01:52.800 And in that conversation, I had to deal with these exact same

00:01:56.500 objections, I'm just going to share my perspective on how I

00:01:59.680 took what I was hearing and then I kind of reversed it on them

00:02:04.220 to just make sure that I was hearing things right.

00:02:06.140 At the end of the day, I wasn't trying to, you know,

00:02:08.380 twist somebody's arm or do hard sales pressure.

00:02:10.760 I just wanted to make sure I was understanding things properly

00:02:12.960 and they were as well.

00:02:14.220 So here they are.

00:02:15.320 One, price.

00:02:16.720 If somebody says, ooh, that's expensive or, oh, that's more

00:02:20.500 than I thought or blah, blah, blah.

00:02:22.460 At the end of the day, it's probably a problem

00:02:25.260 in your positioning.

00:02:26.260 There's something where the way you presented the solution,

00:02:30.060 the customers you've served, the value that delivers,

00:02:34.300 in the language you use, it didn't resonate properly or,

00:02:37.840 so it's either in the positioning or it's in the

00:02:40.540 connecting with value.

00:02:42.340 To me, the way I think about price is that if I can really

00:02:45.520 connect with their pain and have them quantify it,

00:02:48.320 talk about the cost, both, you know, personally from a time

00:02:51.220 point of view and a monetary point of view.

00:02:53.320 Understand that and really get clear of like stretching that

00:02:56.220 gap of what it is you want versus where you're at and then

00:02:59.220 talk about the specific things in my product that help them

00:03:03.160 solve those problems and the benefits that they'll receive.

00:03:06.260 Monetary, time point of view, productivity, peace of mind and

00:03:10.500 connect that to them.

00:03:11.880 That's the value connection.

00:03:13.480 It's right in the middle between the frustrations they're

00:03:15.840 experiencing and the challenges they want to overcome and how

00:03:18.080 painful and costly that is and the opportunity to have those

00:03:21.220 resolved in the benefits and the wins that they'll get.

00:03:24.020 So if you haven't done that properly in the conversation

00:03:27.600 then that's why price comes up.

00:03:29.160 And the way to deal with that objection is to go back and say

00:03:33.300 well, let me just go back to, you mentioned that this is a

00:03:35.740 challenge, I'm just, because what you probably forgot to do is

00:03:38.700 quantify that.

00:03:39.580 I can't tell you how many people are like,

00:03:40.780 so what are some of the frustrations you're dealing with?

00:03:42.540 Well, I'm dealing with this, I'm dealing with that,

00:03:43.940 I'm dealing with that.

00:03:44.840 Perfect, then they go, where would you like to see your,

00:03:47.780 how would you like to see the organization operate or whatever

00:03:50.540 problem they have and then they talk about it.

00:03:52.640 They didn't say, oh, that's fascinating.

00:03:54.380 So tell me more about this and like how does that show up?

00:03:56.780 And who do you interact with and what does that cost them

00:03:58.680 from a time commitment point of view?

00:04:00.080 If you don't push on that button then you have to go back

00:04:04.720 and do it again just to make sure that they see the value

00:04:07.960 from where they're at today to what they could be

00:04:10.220 from an operational point of view using your solution.

00:04:12.860 You need to make sure that they see that value

00:04:15.060 and you didn't forget to do that.

00:04:16.400 Number two, missing feature.

00:04:18.840 Now this is an easy one.

00:04:20.100 You know, and even if it's for people, look,

00:04:21.560 sometimes they don't want to buy your software.

00:04:23.100 But at the end of the day, if they're like,

00:04:24.240 hey, I love this solution, but it doesn't integrate

00:04:26.480 with Salesforce, you know, unfortunately, it's not for me.

00:04:29.240 Here's what I say, totally get where you're coming from

00:04:31.320 and I appreciate you sharing that with me.

00:04:32.640 So you always want to acknowledge their challenge

00:04:34.720 or their frustration or why they're not going to move forward

00:04:37.460 and say, if you don't mind, can we just dig a little deeper

00:04:40.580 around that is, you know, how does that process work, right?

00:04:44.460 So you want to dig into the specific pain

00:04:46.400 or missing feature they're talking about.

00:04:47.820 Who's involved in that?

00:04:49.020 How would you like to see it work?

00:04:50.480 So if the information could flow over,

00:04:53.360 who would be involved in that process

00:04:54.960 and what information would translate?

00:04:56.520 And what you're trying to do is figure out

00:04:58.120 if there's a workaround.

00:04:59.260 So they say missing feature, you acknowledge it,

00:05:01.260 you know, I understand what you're saying,

00:05:03.160 let's dig deeper on that.

00:05:04.160 So the pain is this, here's why it would be great

00:05:06.400 to have it solved, great, look at opportunities,

00:05:09.140 potentially solve it, and then offer them up.

00:05:11.180 If we did this, this, and this, would that solve it?

00:05:13.480 In today's world, just so you know,

00:05:15.920 tools like Zapier makes it ridiculously easier

00:05:18.280 to connect solutions so integrations for the most part

00:05:21.920 are a non, they're kind of a mute point if you can explain

00:05:25.980 to the customers most of your calls they probably don't

00:05:29.520 realize there's other ways to connect and configure solutions

00:05:33.720 and you might know of some dashboard tools that you can

00:05:36.140 just kind of plug and play and configure and whatever it is

00:05:38.560 your job is to solve their problems,

00:05:41.040 not get stuck on a feature.

00:05:43.300 So if they say there's a missing feature, acknowledge it,

00:05:46.200 Understand, go deeper and then look for workarounds to make

00:05:49.260 that happen.

00:05:50.300 Number three, not a now thing.

00:05:53.340 So the worst you can do is go through a discovery call.

00:05:55.800 Do a Rocket Demo call and get the customer all excited and then

00:05:59.640 they say, let me get back to you and then you follow up and

00:06:01.940 they don't reply, you follow up, they don't reply and all of a

00:06:04.160 sudden they say, hey, Dan, hey, John, hey, Mark, hey, Mary.

00:06:07.820 It's not a now thing and you're just like, oh, what, what, what?

00:06:12.420 I thought we got all this thing figured out.

00:06:14.360 maybe use BANT, budget authority, timing, need.

00:06:18.100 And you're like, what went wrong?

00:06:19.240 The way I think about it is I'm always asking myself,

00:06:22.600 did I get the wrong customer?

00:06:24.000 Because at the end of the day, if you do a great ICP,

00:06:26.600 an ideal customer profile, then that will take care of a lot

00:06:30.200 of the noise in your sales pipeline.

00:06:31.640 So did I talk to the wrong customer?

00:06:33.180 Two, did I miss pitching to the prospect's priorities?

00:06:37.140 Did I miss talking to their, when I ask them, it's like,

00:06:40.560 you know, they mention their challenges.

00:06:42.720 Did I ask if it's a now thing?

00:06:44.480 Is this a challenge that you want to resolve today?

00:06:46.800 When is this a priority?

00:06:47.800 If I don't nail that and make sure that they commit to it,

00:06:51.360 then it's easy for them to say that.

00:06:52.940 But if I get the commitment, then they've said it,

00:06:55.100 so then they can't use that objection.

00:06:57.360 It might be a real thing, but many times people just use that

00:07:00.200 as a potential objection.

00:07:01.700 And that leads to the third thing is they're masking

00:07:04.100 a real concern.

00:07:05.180 There's probably something else in the product that they're

00:07:09.220 not telling you about or you misunderstood something.

00:07:12.040 You didn't go deep enough and they're using this as an excuse.

00:07:15.440 But if you master the sales process and really uncover the

00:07:19.580 customer's challenges and present a compelling solution in a

00:07:22.980 way that gets them excited and talk about some of the case

00:07:25.360 studies and customers you've served in the past and got them

00:07:27.980 results, then they will buy and they won't use.

00:07:31.520 It's not a now thing.

00:07:32.520 So always really try to go deeper and ask yourself,

00:07:35.760 is the right customer?

00:07:36.700 Yes, okay.

00:07:38.100 Did I pitch to their priorities?

00:07:40.200 No, okay, maybe I gotta try that again.

00:07:42.300 Or three, are they masking a real concern?

00:07:44.880 So you could just say, hey, John,

00:07:46.340 I really appreciate you sharing that with me.

00:07:48.700 Usually at this point, I've learned from past customers

00:07:51.180 that some of them are having an issue around these other areas

00:07:54.480 and it might just mean that it's easier to put things off

00:07:57.880 than to address them today.

00:07:59.280 Is that potentially the case in this scenario?

00:08:01.560 Something like that to essentially say, look, I get that.

00:08:04.460 It's not a now thing but maybe it's because

00:08:06.060 these things aren't resolved.

00:08:07.620 Can we talk about that?

00:08:08.700 Do you have a few minutes to jump on a quick call?

00:08:10.000 just so that I can better understand how to present my

00:08:12.540 solution in the future and really figure out what it is

00:08:15.800 that's missing for this to be a priority.

00:08:19.100 And that to me is the best way to deal with the third

00:08:22.720 objection of not a now thing.

00:08:24.640 So really quick recap to deal with the top three objections

00:08:27.920 in your SaaS demos.

00:08:29.920 Number one, price, make sure you reconnect on value.

00:08:32.880 Two, missing feature, go deep, figure out how they'd like to

00:08:36.020 solve it and look for a workaround.

00:08:37.200 And three, not a now thing, make sure you're dealing with

00:08:39.900 the right customer, you've pitched their priorities

00:08:41.960 and they're not masking their real concerns.

00:08:45.280 As I mentioned at the beginning of this video,

00:08:46.440 I wanna share with you a resource called

00:08:47.940 the Rocket Demo Builder.

00:08:49.880 In it, I share the five key principles

00:08:51.720 of having an incredible demo and the nine box model

00:08:54.480 that you can use to close more deals.

00:08:56.560 Essentially, the call flow.

00:08:58.120 The link's below, you can download your copy

00:09:00.060 and if you like this video, click the like button.

00:09:02.620 Be sure to share it with somebody

00:09:03.760 that you think it can serve and also subscribe to my channel.

00:09:08.700 As per usual, I want to challenge you to live a bigger life

00:09:10.840 and a bigger business and I'll see you next Monday.

00:09:12.800 Yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah.

Dan Martell - November 26, 2018

How To Overcome The Top 3 Sales Objections In Your Software Demo

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