July 26, 2023 • 12 mins
Unleash the potential of sales to reclaim your time and redefine your business! As your host, Jacob K Mead, I'll be guiding you through sales practices, revealing how understanding your customer's is important . We'll explore the significant role of sales in freeing up your time, enabling you to engage more with your loved ones or indulge in activities you love.
Throughout the episode, we explore the need to match your customer's emotions and enthusiasm while selling, and how to effectively navigate their hesitations and respond to their objections. With insights from my own experiences in running a business in the electronic devices industry, we'll discuss how to overcome price objections and the art of showcasing value before price. We wrap up the conversation with some practical advice on tackling common objections, getting to the heart of what might be stopping your customer, and how to deliver the value they might be missing. Get ready to transform your sales strategy and buy back your time.
Until next time... Follow on Instagram @buytimepodcast
Follow Jacob K. Mead on all the socials @jacobkmead
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Hey everybody, this is Jacob K Mead and this is the
Buy Time podcast, where wediscuss everything there is to
know about buying back your time.
Be sure to like and follow andshare with somebody who needs to
buy back their time.
Enjoy today's episode.
Welcome back to another episodeof the Buy Time podcast.
My name is Jacob K Mead.
I'm your host today that'sgoing to be talking everything
(00:23):
there is about how to buy yourtime.
Today we're going to discusssales and why sales is so
important in actually gettingyour time back and allowing you
to spend more time with yourfamily.
Your loved ones are doing whatyou love most.
So let's go ahead and dive in,and before we dive in, actually,
(00:44):
let's take a second and thinkabout different areas in your
business that sales is utilized.
Maybe you're all sales, maybeyou're not, maybe you're having
a hard time thinking aboutsomething in your business that
sales, but go ahead and thinkabout your business and how that
sales process works for you.
So, for instance, my businesswe sell electronic devices.
(01:07):
We also service electronicdevices.
Anything from a computer allthe way down to cell phones,
tablets, anything with a powerbutton we can pretty much fix,
and so that would be really whatwe offer our customers and we
do some business to businesssales and we also do consumer.
But that's really what we focuson.
So think about in your businesswhat sales looks like for you.
(01:29):
And then I want you to thinkabout whether or not it's
something a customer needs orwhether it's something the
customer wants, because thoseare two big things and the
different ways you go aboutselling are completely different
.
If a customer needs somethingbut doesn't necessarily want to
(01:50):
spend the money on it, thenyou're going to start to see
some hesitation.
If a customer wants something,a lot of times it's going to be
easier to sell to that customerbecause they're eager, they're
excited.
You don't have to drive thatexcitement, it's already driven
for them.
So those are some things thatkind of think about in your
business.
Is a customer looking atneeding this or is a customer
(02:10):
looking at wanting it?
So let's talk about that for aminute.
In my particular business, a lotof the times we get customers
needing something.
They don't necessarily want tofix their device, but they need
to fix their device.
They need to have somethingthat's operational, so they need
to fix their device.
And so what happens here is wegive the customer a price.
Let's just for the sake of thispodcast, let's talk about $100.
(02:34):
So we tell the customer it willbe $800.
What sort of a bottle that wetypically get or injection we
get is oh wow, that much.
I don't know if I want to dothat.
So right now they don't know ifthey want to do that because
they don't understand the valuein it.
So the next thing we have to dois learn to pitch the value.
I like to tell my guys pitchthe value first before giving
(02:55):
the price, because if thecustomer understands the value
and then you give them the price, they can relate that price
back to the value.
So here's a couple differentscenarios and we're going to
role play this together.
Customer comes in, asks howmuch it is to repair their
device and we say yeah, it's$100 to go ahead and get that
repaired.
Then they come up with theobjection oh, that's a little
bit too much, I don't think Iwant to do that.
(03:17):
Or what can happen and we dothis a lot is a customer comes
in, says how much is to repairthis device?
We go hey, not a problem,thanks so much for bringing that
to us.
We can get it squared away herefor you today, instantly
building value based off fromthe time Right, it's a time
measurement and they don't haveto wait.
(03:38):
Then next what we do is we tellthem it comes with a lifetime
warranty.
Then we're adding value withthat warranty.
We get that taken care of foryou today comes with our
lifetime warranty and it lookslike that repair is only $100.
Then we incorporate it the wordonly $100 to make it sound a
little bit more softening to theblow of how much they're going
(04:00):
to have to spend.
Now, this doesn't always workthat way.
Occasionally we'll get thecustomer that goes I don't want
to spend $100.
If you do get that objection Idon't want to spend $100, the
next thing we have to look at isokay, well, what is it going to
cost them for them not torepair their device or not to go
with the product or servicethat we offer?
(04:21):
Then you're explainingbasically what they're going to
lose by not going forward withit, by not actually going with
you for something.
That's an RRI industry.
Then let's look at a lot ofindustries.
Customer comes in.
We'll just play on our industryagain.
They want the brand new iPhone14.
They're super excited.
(04:41):
They come into the store andthey're ready to get signed up.
They get this iPhone 14.
They're super excited.
They hand you over the moneyand there's very little
objections.
Or maybe you do have a littlebit of objections.
Well, does this come with this?
Does it come with XYZ?
A lot of times they're extremelyexcited because they want that
(05:01):
product or service.
So customer wants a product orservice.
You can lean more into thatemotion.
It's all about using emotion.
When you are selling We'll gomore into emotion selling and
one of the other episodes of thepodcast, because I talk all day
on that You're really utilizingyour emotions and you're
utilizing their emotions.
(05:22):
You're making sure that youremotion is matching theirs.
If they're super excited aboutbuying a product, guess who
needs to be super excited aboutselling a product?
You know how many times they gosomewhere, especially furniture
stores.
They go to the furniture store,husband and wife.
They just bought a home orthey're looking to buy new
furniture for their apartment.
Whatever, they're super excited, they're eager.
Then their salesperson is like,well, yeah, we have this, we
(05:46):
have that, and there's noexcitement.
I'm like man, that's dull,that's dull.
You don't see these peopleengaging and they start to lose
their excitement.
So match the excitement.
It's a product that they wantand they come in and they're
excited for it.
Make sure you are matchingtheir excitement.
A lot of times you'll find whenyou're matching their
excitement it's easier to beable to sell to them because
(06:06):
they're trusting you more.
They're using you as the expert, because you are the expert in
your industry.
You're able to sell to themwhen you're matching their
excitement.
So don't sound dull If they'reexcited.
Sound excited.
Now you do get the occasional.
Someone wants something butthey're hesitant.
They're hesitant on the priceand they ask well, is it really
(06:29):
worth it or can I get it cheapersomewhere else?
They're not really questioningmore so the pricier product, but
they're more so questioning thevalue.
Back to that value aspect ofthings is they need to
understand what value they'regetting with that price that
you're providing.
What I tell myself is, whateverobjection they give me, whether
(06:51):
it's no, not today, or I haveto talk with my significant
other I always overcome that byfiguring out what value I forgot
to provide, what value I forgotto pitch Really.
Here's a scenario.
Someone says, hey, thatactually sounds really good.
I have to go ahead and talk tomy significant other and I'll
get back to Very common right.
(07:13):
So something you could do inthat scenario is this I could
fully understand.
I'd want to talk to mysignificant other too.
Well, why don't we go ahead andgive them a call and I can
explain that?
Because this is a really goodoffer and I want them to be able
to understand how great of anoffer it is.
Okay, that's another thing thatyou can do.
Another thing you can do is youcan find out what's missing.
So if they say, hey, I talkedto my significant other, I
(07:34):
always like to say I agree.
So, absolutely I agree.
I would want to do the samething.
I know this is such a greatpurchase and you're making a
good decision, but it's alwaysgood to make sure that both
partners are on board.
Is there any questions that youwant me to clear up?
Is there anything that you'reconfused about?
And then you're able tounderstand more about what the
customer is confused on andyou're able to understand okay,
(07:54):
is it value that they'reconfused on?
Is there something that theydidn't understand?
Is it the pricing?
What is holding the back?
Because the significant otherthing?
A lot of times it isn't holdingthe back and a lot of times you
can make a phone call, you cando FaceTime now.
So if they need to show theproduct or service, they can do
a FaceTime video chat.
So they are already committedto buying.
And that's typically a kind oflast minute out.
(08:17):
If I like to say so, it's like,hey, I'm not 100% committed, so
getting them to that 100%committed part, that's kind of
your job.
So that's one objection.
So Again, we talked about thetwo kind of sales.
You have someone that's wantinga product.
They're excited.
They have someone that'sneeding a product.
They're not excited.
Let's go back to that needingthe product Big thing and this
(08:42):
is with every sales.
The big thing with needing aproduct is after they pay you.
A lot of times they're notgoing to feel super excited.
They're not going to feel likethey got something right Because
they spent money on somethingthey don't want.
Let's say, some of thedishwasher broke and they're
paying their repair person.
They don't want to do that.
It means to repair their roof.
They don't want to do that.
It's something you have tospend money on.
(09:04):
The big thing I do in myindustry is I always thank them
afterwards and I reassure themthat they made the right
decision.
That could look something likethis.
It could say hey, I want to letyou know, mrs Smith, that you
made a really good decisiontoday by repairing your device.
I think you'll get a long timeout of it and you'll be able to
keep using your device for manyyears to come.
(09:25):
That's reassuring.
And you're telling them that,hey, you made a good decision.
And you're almost saying thisis what I would have done.
I've used that before.
If it truly is like, hey, thisis something that I would have
done.
You really did make a gooddecision.
Thank you so much for choosingus.
I really do appreciate it.
Really, use that emotion.
(09:46):
Customers.
They are looking for thatemotion.
It's something that they wantto see from somebody that's
selling them advice.
Don't sound salesy.
When you sound salesy andyou're going through all these
charts, it doesn't work out.
It just doesn't work.
My entire sales career that'sone thing is.
We had this long list of.
This is how you're supposed todo it.
This is the exact way you'resupposed to do sales.
(10:08):
I stripped that right awaybecause I realized it didn't
work.
But what really worked wasusing emotion.
Use emotion and remember ifthey want something, make sure
you match that excitement.
If they need something.
You have to bring thatexcitement and do a reassuring
that they're making the rightdecision and you have to show
value.
Make sure they are pitchingvalue.
(10:29):
Pitch value first before youpitch price.
The example for that.
Another example is a lot oftimes we'll have a customer that
wants to buy a case.
Well, I noticed before I didthis, everyone was buying a case
based off from the price.
They're going up there lookingfor the cheapest case because
they're $35 case and there's $24case and they buy the $24 case
whether they liked it or not.
They would either come back andexchange it out or they didn't
(10:51):
like it.
They'd return it, and that wasa headache.
I realized that the big thingis you have to pitch the value
in the case.
Pitch the value in the product.
I would simply tell them whatcase do you like best?
If price wasn't an option, theygo this case.
Then we pick out that case.
I put it on their device sothey can feel it, they can
understand what it looks like,they can see it in person.
(11:11):
Once they do that, theytypically will understand why
that case is so important.
They don't want to take it offfrom their phone.
I'm pitching the value again byactually having in their hands
something for them to be able tofeel.
We'll dive more into salesbecause so many things with
sales and how to incorporatedifferent sales techniques into
(11:32):
your business.
We can incorporate taste, smell, which we actually do,
incorporate the smell here atone of our stores and it works
really well.
In our sales process weincorporate the five senses and
when you incorporate the fivesenses in your sales structure,
you're going to start to seeyour sales increase, but you're
also going to start to see yourcustomer be happier and be more
(11:52):
excited to purchase from youbecause you're utilizing the
five senses.
I think that's a little bitlonger of a podcast today.
I don't want to bore you guystoo much, but I do hope you got
some information from this.
It's a subject I'm reallypassionate about.
I hope to dive in deeper in thesales aspect of things in the
upcoming episodes.
Make sure that you stay tunedand share this with somebody
(12:14):
that could really benefit fromunderstanding sales and
understanding the differencebetween a need and a difference
between a want when it comes tosales.
My name is Jacob K Mead andthis was another episode of the
by Time Podcast where we talkedabout the difference between a
need and a want in a sale.
I'm excited that you listenedtoday.
(12:35):
Make sure to follow us.
Like us, share us with yourfriends.
We're always here to help youout.
Until next time.
Thanks for listening to today'sepisode.
My name is Jacob K Mead, anduntil next time.
Hey everybody, this is Jacob K Mead and this is the
Buy Time podcast, where wediscuss everything there is to
know about buying back your time.
Be sure to like and follow andshare with somebody who needs to
buy back their time.
Enjoy today's episode.
Welcome back to another episodeof the Buy Time podcast.
My name is Jacob K Mead.
I'm your host today that'sgoing to be talking everything
(00:23):
there is about how to buy yourtime.
Today we're going to discusssales and why sales is so
important in actually gettingyour time back and allowing you
to spend more time with yourfamily.
Your loved ones are doing whatyou love most.
So let's go ahead and dive in,and before we dive in, actually,
(00:44):
let's take a second and thinkabout different areas in your
business that sales is utilized.
Maybe you're all sales, maybeyou're not, maybe you're having
a hard time thinking aboutsomething in your business that
sales, but go ahead and thinkabout your business and how that
sales process works for you.
So, for instance, my businesswe sell electronic devices.
(01:07):
We also service electronicdevices.
Anything from a computer allthe way down to cell phones,
tablets, anything with a powerbutton we can pretty much fix,
and so that would be really whatwe offer our customers and we
do some business to businesssales and we also do consumer.
But that's really what we focuson.
So think about in your businesswhat sales looks like for you.
(01:29):
And then I want you to thinkabout whether or not it's
something a customer needs orwhether it's something the
customer wants, because thoseare two big things and the
different ways you go aboutselling are completely different
.
If a customer needs somethingbut doesn't necessarily want to
(01:50):
spend the money on it, thenyou're going to start to see
some hesitation.
If a customer wants something,a lot of times it's going to be
easier to sell to that customerbecause they're eager, they're
excited.
You don't have to drive thatexcitement, it's already driven
for them.
So those are some things thatkind of think about in your
business.
Is a customer looking atneeding this or is a customer
(02:10):
looking at wanting it?
So let's talk about that for aminute.
In my particular business, a lotof the times we get customers
needing something.
They don't necessarily want tofix their device, but they need
to fix their device.
They need to have somethingthat's operational, so they need
to fix their device.
And so what happens here is wegive the customer a price.
Let's just for the sake of thispodcast, let's talk about $100.
(02:34):
So we tell the customer it willbe $800.
What sort of a bottle that wetypically get or injection we
get is oh wow, that much.
I don't know if I want to dothat.
So right now they don't know ifthey want to do that because
they don't understand the valuein it.
So the next thing we have to dois learn to pitch the value.
I like to tell my guys pitchthe value first before giving
(02:55):
the price, because if thecustomer understands the value
and then you give them the price, they can relate that price
back to the value.
So here's a couple differentscenarios and we're going to
role play this together.
Customer comes in, asks howmuch it is to repair their
device and we say yeah, it's$100 to go ahead and get that
repaired.
Then they come up with theobjection oh, that's a little
bit too much, I don't think Iwant to do that.
(03:17):
Or what can happen and we dothis a lot is a customer comes
in, says how much is to repairthis device?
We go hey, not a problem,thanks so much for bringing that
to us.
We can get it squared away herefor you today, instantly
building value based off fromthe time Right, it's a time
measurement and they don't haveto wait.
(03:38):
Then next what we do is we tellthem it comes with a lifetime
warranty.
Then we're adding value withthat warranty.
We get that taken care of foryou today comes with our
lifetime warranty and it lookslike that repair is only $100.
Then we incorporate it the wordonly $100 to make it sound a
little bit more softening to theblow of how much they're going
(04:00):
to have to spend.
Now, this doesn't always workthat way.
Occasionally we'll get thecustomer that goes I don't want
to spend $100.
If you do get that objection Idon't want to spend $100, the
next thing we have to look at isokay, well, what is it going to
cost them for them not torepair their device or not to go
with the product or servicethat we offer?
(04:21):
Then you're explainingbasically what they're going to
lose by not going forward withit, by not actually going with
you for something.
That's an RRI industry.
Then let's look at a lot ofindustries.
Customer comes in.
We'll just play on our industryagain.
They want the brand new iPhone14.
They're super excited.
(04:41):
They come into the store andthey're ready to get signed up.
They get this iPhone 14.
They're super excited.
They hand you over the moneyand there's very little
objections.
Or maybe you do have a littlebit of objections.
Well, does this come with this?
Does it come with XYZ?
A lot of times they're extremelyexcited because they want that
(05:01):
product or service.
So customer wants a product orservice.
You can lean more into thatemotion.
It's all about using emotion.
When you are selling We'll gomore into emotion selling and
one of the other episodes of thepodcast, because I talk all day
on that You're really utilizingyour emotions and you're
utilizing their emotions.
(05:22):
You're making sure that youremotion is matching theirs.
If they're super excited aboutbuying a product, guess who
needs to be super excited aboutselling a product?
You know how many times they gosomewhere, especially furniture
stores.
They go to the furniture store,husband and wife.
They just bought a home orthey're looking to buy new
furniture for their apartment.
Whatever, they're super excited, they're eager.
Then their salesperson is like,well, yeah, we have this, we
(05:46):
have that, and there's noexcitement.
I'm like man, that's dull,that's dull.
You don't see these peopleengaging and they start to lose
their excitement.
So match the excitement.
It's a product that they wantand they come in and they're
excited for it.
Make sure you are matchingtheir excitement.
A lot of times you'll find whenyou're matching their
excitement it's easier to beable to sell to them because
(06:06):
they're trusting you more.
They're using you as the expert, because you are the expert in
your industry.
You're able to sell to themwhen you're matching their
excitement.
So don't sound dull If they'reexcited.
Sound excited.
Now you do get the occasional.
Someone wants something butthey're hesitant.
They're hesitant on the priceand they ask well, is it really
(06:29):
worth it or can I get it cheapersomewhere else?
They're not really questioningmore so the pricier product, but
they're more so questioning thevalue.
Back to that value aspect ofthings is they need to
understand what value they'regetting with that price that
you're providing.
What I tell myself is, whateverobjection they give me, whether
(06:51):
it's no, not today, or I haveto talk with my significant
other I always overcome that byfiguring out what value I forgot
to provide, what value I forgotto pitch Really.
Here's a scenario.
Someone says, hey, thatactually sounds really good.
I have to go ahead and talk tomy significant other and I'll
get back to Very common right.
(07:13):
So something you could do inthat scenario is this I could
fully understand.
I'd want to talk to mysignificant other too.
Well, why don't we go ahead andgive them a call and I can
explain that?
Because this is a really goodoffer and I want them to be able
to understand how great of anoffer it is.
Okay, that's another thing thatyou can do.
Another thing you can do is youcan find out what's missing.
So if they say, hey, I talkedto my significant other, I
(07:34):
always like to say I agree.
So, absolutely I agree.
I would want to do the samething.
I know this is such a greatpurchase and you're making a
good decision, but it's alwaysgood to make sure that both
partners are on board.
Is there any questions that youwant me to clear up?
Is there anything that you'reconfused about?
And then you're able tounderstand more about what the
customer is confused on andyou're able to understand okay,
(07:54):
is it value that they'reconfused on?
Is there something that theydidn't understand?
Is it the pricing?
What is holding the back?
Because the significant otherthing?
A lot of times it isn't holdingthe back and a lot of times you
can make a phone call, you cando FaceTime now.
So if they need to show theproduct or service, they can do
a FaceTime video chat.
So they are already committedto buying.
And that's typically a kind oflast minute out.
(08:17):
If I like to say so, it's like,hey, I'm not 100% committed, so
getting them to that 100%committed part, that's kind of
your job.
So that's one objection.
So Again, we talked about thetwo kind of sales.
You have someone that's wantinga product.
They're excited.
They have someone that'sneeding a product.
They're not excited.
Let's go back to that needingthe product Big thing and this
(08:42):
is with every sales.
The big thing with needing aproduct is after they pay you.
A lot of times they're notgoing to feel super excited.
They're not going to feel likethey got something right Because
they spent money on somethingthey don't want.
Let's say, some of thedishwasher broke and they're
paying their repair person.
They don't want to do that.
It means to repair their roof.
They don't want to do that.
It's something you have tospend money on.
(09:04):
The big thing I do in myindustry is I always thank them
afterwards and I reassure themthat they made the right
decision.
That could look something likethis.
It could say hey, I want to letyou know, mrs Smith, that you
made a really good decisiontoday by repairing your device.
I think you'll get a long timeout of it and you'll be able to
keep using your device for manyyears to come.
(09:25):
That's reassuring.
And you're telling them that,hey, you made a good decision.
And you're almost saying thisis what I would have done.
I've used that before.
If it truly is like, hey, thisis something that I would have
done.
You really did make a gooddecision.
Thank you so much for choosingus.
I really do appreciate it.
Really, use that emotion.
(09:46):
Customers.
They are looking for thatemotion.
It's something that they wantto see from somebody that's
selling them advice.
Don't sound salesy.
When you sound salesy andyou're going through all these
charts, it doesn't work out.
It just doesn't work.
My entire sales career that'sone thing is.
We had this long list of.
This is how you're supposed todo it.
This is the exact way you'resupposed to do sales.
(10:08):
I stripped that right awaybecause I realized it didn't
work.
But what really worked wasusing emotion.
Use emotion and remember ifthey want something, make sure
you match that excitement.
If they need something.
You have to bring thatexcitement and do a reassuring
that they're making the rightdecision and you have to show
value.
Make sure they are pitchingvalue.
(10:29):
Pitch value first before youpitch price.
The example for that.
Another example is a lot oftimes we'll have a customer that
wants to buy a case.
Well, I noticed before I didthis, everyone was buying a case
based off from the price.
They're going up there lookingfor the cheapest case because
they're $35 case and there's $24case and they buy the $24 case
whether they liked it or not.
They would either come back andexchange it out or they didn't
(10:51):
like it.
They'd return it, and that wasa headache.
I realized that the big thingis you have to pitch the value
in the case.
Pitch the value in the product.
I would simply tell them whatcase do you like best?
If price wasn't an option, theygo this case.
Then we pick out that case.
I put it on their device sothey can feel it, they can
understand what it looks like,they can see it in person.
(11:11):
Once they do that, theytypically will understand why
that case is so important.
They don't want to take it offfrom their phone.
I'm pitching the value again byactually having in their hands
something for them to be able tofeel.
We'll dive more into salesbecause so many things with
sales and how to incorporatedifferent sales techniques into
(11:32):
your business.
We can incorporate taste, smell, which we actually do,
incorporate the smell here atone of our stores and it works
really well.
In our sales process weincorporate the five senses and
when you incorporate the fivesenses in your sales structure,
you're going to start to seeyour sales increase, but you're
also going to start to see yourcustomer be happier and be more
(11:52):
excited to purchase from youbecause you're utilizing the
five senses.
I think that's a little bitlonger of a podcast today.
I don't want to bore you guystoo much, but I do hope you got
some information from this.
It's a subject I'm reallypassionate about.
I hope to dive in deeper in thesales aspect of things in the
upcoming episodes.
Make sure that you stay tunedand share this with somebody
(12:14):
that could really benefit fromunderstanding sales and
understanding the differencebetween a need and a difference
between a want when it comes tosales.
My name is Jacob K Mead andthis was another episode of the
by Time Podcast where we talkedabout the difference between a
need and a want in a sale.
I'm excited that you listenedtoday.
(12:35):
Make sure to follow us.
Like us, share us with yourfriends.
We're always here to help youout.
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