Dan Martell - June 12, 2017


SaaS Sales Funnel in 3 Basic Steps (Especially In The Early Days)

Hosted by
Dan Martell
How To Delegate To a Virtual Assistant How To Create a Business Playbook™： How To Make SOPs

Episode Stats


Length

7 minutes

Words per minute

200.32

Word count

1,510

Sentence count

68

Harmful content

Misogyny

1

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

If you ve ever felt like you really don t understand how a sales conversation flows, or you ve got a call coming up and you re a little nervous about, maybe you re hiring somebody, you re talking to a new customer for the first time, I m gonna walk you through exactly how to do it so that you can feel confident, have the courage, even maybe do some cold calls and feel like a champ.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00.160 Sales 101, how to follow the funnel.
00:00:04.720 This is the funnel.
00:00:06.600 The fantastic funnel of freedom.
00:00:17.440 The three-step process to sales.
00:00:19.760 This is 101 stuff, but if you've ever felt
00:00:22.200 like you really don't understand
00:00:23.640 how a sales conversation flows,
00:00:25.800 or you've got a call coming up
00:00:27.600 and you're a little bit nervous about,
00:00:29.040 maybe you're hiring somebody,
00:00:30.140 you're talking to a new customer for the first time.
00:00:32.380 I'm gonna walk you through exactly how to do it
00:00:35.080 so that you can feel confident, have the courage,
00:00:37.740 even maybe do some cold calls and feel like a champ.
00:00:41.080 Maybe you're trying to pre-sell a pilot
00:00:43.280 to some new product that you're building.
00:00:45.520 This process literally is one-on-one stuff,
00:00:48.720 but nobody ever teaches it this way.
00:00:50.400 And I really just wanna simplify, demystify it,
00:00:53.200 and make it approachable for anybody watching this video.
00:00:56.300 So sales first comes down to one step
00:01:00.440 and it's got two parts to the step.
00:01:02.640 Connect and qualify.
00:01:04.680 If I was doing customer development
00:01:06.980 or pre-selling a product,
00:01:08.680 if I was walking around the mall or a farmer's market
00:01:10.920 or the grocery store, depending on who your customer is,
00:01:13.420 the first thing you wanna do is just connect and qualify.
00:01:16.020 Are they in market or not?
00:01:17.520 If you sell a product for people
00:01:19.720 that want to put their animals,
00:01:22.800 they have like pets, and put it in like,
00:01:25.320 I was gonna say storage, obviously you're not gonna put
00:01:27.080 your kitten or your dog in storage,
00:01:29.220 but like this beautiful little home, right?
00:01:31.700 Like doggy vacay.
00:01:33.420 First question you're gonna ask somebody to qualify
00:01:35.960 after you connect, which is saying hello,
00:01:38.140 is do you have a pet?
00:01:40.300 And if their answer's no, then move on.
00:01:42.980 Now this may sound trite and people are like,
00:01:45.240 why would I ask that question?
00:01:46.500 Trust me, there are so many entrepreneurs out there
00:01:49.280 that talk to customers that would never be
00:01:51.440 a customer of theirs.
00:01:52.480 They don't qualify.
00:01:53.880 If I'm selling software to gamers,
00:01:55.820 first thing I'm gonna ask them is,
00:01:56.880 do you play World of Warcraft?
00:01:58.580 If they say no, then I'll be like,
00:02:00.020 what other games do you play?
00:02:01.160 Because I don't even play World of Warcraft.
00:02:02.760 But I'm just saying, you need to ask them if they game,
00:02:05.520 and then at what level.
00:02:06.600 That's the qualify part.
00:02:07.960 I really think that most of sales
00:02:09.660 and the challenge around sales
00:02:11.000 is that entrepreneurs are talking to people
00:02:12.860 that are not in market, that don't have the problem,
00:02:15.200 that don't even, are not even a fit for your solution.
00:02:18.900 So first step in this simplified funnel
00:02:22.840 is connect and qualify.
00:02:24.940 Number two is to close,
00:02:29.080 well, needs assessment and close.
00:02:30.520 So here's the second kind of step.
00:02:32.380 There's two parts to it as well.
00:02:33.880 It's understanding what their needs are.
00:02:36.460 Because when you're trying to sell,
00:02:39.820 which I really think is enthusiasm transferred,
00:02:42.100 first thing you need to do is customize it.
00:02:43.760 The way you customize your offer or your pitch or whatever
00:02:48.900 is to try to understand what are their needs.
00:02:51.040 In the conversation, you can ask exploratory questions.
00:02:54.780 Like, how often do you game?
00:02:56.640 How often do you buy, I mean, I literally,
00:02:58.520 the Spice one I'm just gonna talk about real quick.
00:03:00.420 I was talking to an entrepreneur,
00:03:01.860 and he was doing like a subscription Spice business,
00:03:05.520 and he was like, I asked him how many customers do you have?
00:03:08.200 He's like, well, we got seven customers buying.
00:03:10.200 I have this question called unaffiliated customers,
00:03:12.320 which is how many people have bought from you
00:03:14.100 that don't know you, that didn't get a warm introduction to you,
00:03:16.740 that literally you approached through an ad or cold call
00:03:20.740 and got them involved, he's like zero.
00:03:22.900 And we're sitting at this restaurant,
00:03:24.520 this is a big dinner, and I'm looking across the street
00:03:26.980 through the window and there's a grocery store, okay?
00:03:29.680 And I'm like, why are you not across the street
00:03:33.280 in the grocery store talking to people at the spice rack?
00:03:37.460 And he's like, what are you talking about?
00:03:38.700 Again, I'm walking him through these three steps.
00:03:41.100 Literally, it's connect and qualify.
00:03:42.900 You know that they're in market
00:03:44.760 because they're buying spices off of the rack.
00:03:47.460 Do you know how incredibly awesome that would be
00:03:49.240 if I could just find the place where all my customers
00:03:52.080 showed me that they were in market, ready to buy,
00:03:54.980 and about to actually transact, that's incredible.
00:03:57.580 You're so lucky you could do that.
00:03:59.360 And he's like, well, what would I say to them?
00:04:00.660 And I'm like, well, just literally ask exploratory questions
00:04:04.080 like, how often do you buy this spice?
00:04:05.900 Do you buy other spices?
00:04:07.460 Is there any spice here that you'd want that you can't get?
00:04:10.060 Who tells you about the right spices to buy?
00:04:12.000 How did you decide that that was the right brand?
00:04:14.060 Et cetera, et cetera, et cetera.
00:04:16.300 Those are the questions that will lead to the close, okay?
00:04:19.740 So, you really understand the needs assessment.
00:04:21.900 What are their needs?
00:04:22.840 And then you move it over to the close.
00:04:24.680 Here's what I got, do you wanna hear more about it?
00:04:26.740 They might say no, but always ask, always try to,
00:04:29.220 always put the control back in the other person
00:04:31.780 so that they can kinda take the conversation somewhere else.
00:04:34.860 It's not about selling, it's literally just about
00:04:36.920 being excited and enthusiastic about what you have
00:04:39.360 and then letting them say, well, tell me more about it.
00:04:41.760 Then you go for the close, here's how it works,
00:04:43.620 here's how, you know, here's our guarantee, et cetera,
00:04:45.700 and then you say, this is the price.
00:04:47.360 Now, this all leads to the third part in selling,
00:04:51.580 which is the ultimate part, is follow-up.
00:04:53.800 Many times when you go, and you've probably experienced this,
00:04:56.180 if you've ever tried to pre-sell something,
00:04:58.520 get a new customer, have a sales call,
00:05:01.120 you get to the price and then they're like,
00:05:03.720 well now I gotta talk to my business partner,
00:05:05.380 I gotta talk to my wife, I gotta talk to this other person. 0.99
00:05:09.220 Here's what I'm gonna suggest, okay?
00:05:11.300 It's BAMFAM, okay, remember this acronym, BAMFAM.
00:05:15.700 it's the follow-up, okay?
00:05:18.700 So the step three is the follow-up,
00:05:20.940 but here's where BAMFAM fits into this, okay?
00:05:23.740 I don't want to lose you right here.
00:05:25.880 BAMFAM is book a meeting from a meeting.
00:05:28.820 So follow-up is literally, until somebody says no,
00:05:32.620 stop connecting with, and it's not about harassing,
00:05:35.060 but it's literally just setting up a schedule to follow-up.
00:05:37.780 You know, like 70% of your sales
00:05:40.060 are gonna come from follow-up.
00:05:41.560 And then, unless they say, well, I bought something else,
00:05:43.860 an alternative, so they bought a competitor,
00:05:45.660 Unless they say one of those two things,
00:05:46.860 you should always follow up.
00:05:47.820 BanFam is saying, okay, if they need to connect
00:05:50.100 with somebody else to review the decision,
00:05:52.700 then book a meeting from a meeting and say, great.
00:05:55.160 When do you think you'll have that meeting
00:05:56.280 or that conversation?
00:05:57.100 They'll say, well, I've got a meeting with them tomorrow.
00:05:58.800 Okay, cool.
00:05:59.640 Why don't we schedule a meeting?
00:06:01.200 I always do the exact same time,
00:06:02.620 because you know if you're talking to them today at two,
00:06:04.680 then probably two days from now at two will work.
00:06:07.040 Say, why don't we book a meeting?
00:06:08.020 Quick 15 minutes to reconnect to just close the loop on this.
00:06:11.460 Does that make sense?
00:06:12.160 They go, all right, cool.
00:06:13.360 Put it in the calendar, invite them to it.
00:06:14.920 Boom, locked and loaded.
00:06:16.360 Follow up, okay?
00:06:18.600 Three part sales, literally the simplified sales process.
00:06:22.460 Here's how it works.
00:06:23.560 Number one, connect and qualify.
00:06:25.700 That's a call, that's an email, but then it's qualify.
00:06:28.340 Are they even in market?
00:06:30.260 Are they even an ideal or target customer
00:06:32.300 based on the qualification?
00:06:34.040 Two is the needs assessment.
00:06:36.700 Here are the, what are the challenges
00:06:38.240 you're having around this problem?
00:06:39.720 And then customize the close or the offer or the pitch
00:06:43.440 to their needs, so that you can connect those two,
00:06:46.080 go for the close, and then three, you gotta follow up.
00:06:49.080 Because they may not buy then, but you might ask them,
00:06:51.880 can I follow up, and if you're in a meeting on a phone call,
00:06:54.980 pull out a bam, bam, book a meeting from a meeting,
00:06:58.120 and get that in the calendar to follow up.
00:07:00.600 That is the simplified sales process for you
00:07:03.460 to close more deals, get more customers,
00:07:05.600 and just generally, have a funner time.
00:07:08.860 So as for usual, I wanna challenge you
00:07:10.340 to live a bigger life and a bigger business,
00:07:12.160 and I'll see you next Monday.
00:07:13.720 If you like this video, be sure to subscribe to my channels
00:07:16.040 for other tips and strategies to start and grow your business
00:07:18.840 and I'd also invite you to join my newsletter
00:07:21.400 for exclusive invites, community contests
00:07:24.580 and other free entrepreneurial training
00:07:26.380 and if you're ready to get going,
00:07:27.600 I've got a couple more videos queued up for you
00:07:30.540 and I'll see you next Monday.