The Audible-Ready Sales Podcast
The Audible-Ready Sales Podcast

Episode 56 · 8 months ago

Three Questions You Need to Answer For Your Economic Buyer w/ John Kaplan

ABOUT THIS EPISODE

Selling to an economic buyer is always challenging and often different from one deal to the next.

Improve your ability to make economic buyers and decision makers stand in their moment of pain and demand an urgent solution to their business challenges. John Kaplan breaks down three key questions you need to answer for your economic buyer in order to propel a deal forward.

Check out this and other episodes of The Audible-Ready Podcast at Apple Podcasts, Spotify, or our website.

Here are some additional resources on economic buyer:

- Close the Excuse Department and Shorten Sales Cycles

- http://bit.ly/3dzElMA

- Maximize the Effectiveness of Proof Points [podcast]

- https://apple.co/3btxqSy

- Earn Your Right to Keep Talking [Templates]

- http://bit.ly/2NQTDln 

Price is always going to be a part ofthe conversation, but the key is balancing the price with the businessbenefits of your solution. So remember: minimize the cost by maximizing thevalue you're listening to the audible, ready,podcast. The show that helps you and your teams sell more faster willfeature sales leader sharing their best insights on how to create a salesengine that helps you feel repeatable. retenue growth presented by the team Fforce management, a leader in P, to B sales effectin. This let's get started hello and welcome to the audible, ready,podcast. I'm Rachel Clapmiller John Caplin joins me today. Hi John, Hey,Rachel yeah today John We're going to focus our conversations on economicbuyers. The first thing to remember when you're having a sales confresation,I think, as we always say, is you get delegated to whom you sound. Like sotell he listeners what we mean by that...

...yeah. I love that statement you getdelegated to those that you sound like it doesn't mean that you know economicbuyers don't have time for us, but it means that they are very sensitive totry to understand how to get you. The proper information that you're seeking.So if you're asking me questions that somebody else in the organization hasthe answer to I'm probably going to delegate you to them and a lot ofpeople get offended by that. They don't understand that this, like you knowthat person wouldn't talk to me, I couldn't you know, couldn't get ameeting with that person, but I want you to just sit with a couple of thingsthat we're going to unpack today. So don't ask me a question. You could havegotten the answer to from somebody else. I actually have these written down onmy desk. So when I speak to economic fuyers, I never asked them a questionthat I could have gotteny answer to from somebody else. Therefore, if I doI'll get delegated to that somebody else inside the organization. Anotherthing I always try to keep in mind is...

...to be prepared. If it has been in print,I expect that you have read it and Thi Tese, two, these three, I guess you getdelegated those you sound like. Don't ask me a question. You could havegotten from someone else and N if it as been in print. I expect that you'veread. It are really kind of great things to keep in mind as we go throughthis conversation here, yeah and as you're, making your way to the economicbuyering organization. You can keep yourself focused on three things and ifwe're going to put it simply and when we put it simply, we break it down tothree questions: Jon Yeah. So now we effectively get to the economic fire.We've passed, the you get delegated and all the things that I just talked about.Now. You have to think about the concept of how much how soon and howsure and you'll often hear me refer to this as muchness soonnhiss sureness. Soyou have to define the answers to these...

...questions and it's really reallyimportant byeconomic buyer. What is their expectation on Muchness soonnesssureness? That's right! So, let's Tive into the first one I know the grammarpolice are out there on our muchness soonness insuit makes it much easier torememto a thought. They just went away after caplins on your podcast, thegrammar police just get they get pet up and they go somewhere else, possiblypossibly. But so, let's take that first one whenwe say how much? What do we mean in terms of the economic buyer? This isreally in relation to the value that your you provide that how much questionyeah so muchness is the money factor the conversation. How much money areyour prospects losing or do they stand to lose if they don't take action, forexample, so price is always going to be a part of the conversation, but the keyis balancing the price with the...

...business benefits of your solution, soremember minimize the cost by maximizing the value. So how much isrelative to the positive business outcomes that you've identified in yoursales process? How much of an investment is required to achieve thepositive business outcomes, Youve B identified in your discovery process right and then the next question? Howsoon or soonness this this one really this one isn't necessarily part of yourtypical Monta that you might say if you are part of command of the message, butit's important to the economic buyer. It's still a critical point. Yeah. Soeconomic buyers appreciate the time value of money. They want to know howfast they're going to get a return on their investment soon. This is the timeframe of implementation. If there is a critical business issue, your buyerwants to know how fast you can implement the plan. You are proposingremember to tie it back to the business...

...impact of your solution, make sure theyunderstand the timeline that it will take to earn them the promise, positivebusiness outcomes. So, for me, this is all about urgency. If you do muchnessright soon, this becomes urgent. They can't wait. So do nothing is never anoption. Yeah then the fight. The final question is how sure here it'smitigating risk, which we often answer with proof points yeah, so your buyeralso wants to be assured that you can deliver on what you promise. Rememberyour prospects want to know that you can do what you say. You can dominimize the perceive risk of implementing your solution by sharingthe tangible results you've achieved with similar companies. Proof pointscan be a great tool and helping with the sureness component, theconversation yeah ther'sthey're so important. They provide so much valueto you as a salesperson, and we know...

John, that selling to the economicbuyer isn't isn't easy. It's not something that is the same in everydeal, but these three questions how much, how soon and how sure can reallyhelp us as sales people in sure that we are focused on the big rocks that aregoing to matter to that type of persona yeah. So you know the mind of theeconomic fuire revolves around muchness soonness an sureness build out thismantra throughout your sales engagement connect with the economic buyer as aprocess of muchness, soonness and sureness, and not an event and you'llbe good to go. Yes, three quick concepts, Yo remember in your salesconversations this week. Thank you so much John, my pleasure. All right.Thank you to all of you for listening to the audible, ready, podcast at forcemanagement. We're focused on transforming sales organizations intoelite teams, are proven methodologies, deliver programs that build companyalignment and fuel repeatable revenue...

...growth, give your teams the ability toexecute the gross strategy at the point of sale. Our strength is our experience.The proof is in our results. Let's get started visit us at force.Managementcom you've been listening to the audible, ready podcast to not missan episode subscribe to the show in your favorite podcast player. Untilnext time.

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