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Hey, we need your help with something, listeners.
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In this episode of the Advanced Selling Podcast, Bill does his best Mike and Mike impersonation.
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Brian gets excited about peacock feathers.
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And we take a listener question from Davis, who wants to know about diversified value props.
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Welcome back to the Advanced Selling Podcast.
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But I don t sound tired of reading it, do I?
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No, not at all.
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You ve only read it 480 times in the last year.
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The longest running sales training podcast, because we re supposed to help you create your own sales success.
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I m Bill Kasky.
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I m Brian Neal.
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We are very pleased, very happy to be your host for today s episode, unlike last week when Brian was kind of edgy last week.
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Was I edgy?
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No.
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I just think I was edgy.
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Check out the products page on our website, advancedsellingpodcast.com.
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You can find all in.
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You can find the resource toolkit.
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Hey, got a question for you.
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Yep.
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I know you like Mike and Mike.
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I do.
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ESPN radio broadcasters.
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ESPN radio, they re here in America.
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Are they all, well, I mean, I don t know.
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They re online, so I m sure.
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Yeah, close enough.
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And they always ask this question, and they typically ask it of an athlete, because they have a lot of athletes on, because it s a sports show.
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And I heard them today ask an athlete, I think he was a football player from Alabama.
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And he might have been MVP.
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I m not familiar with college football, really.
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It was obvious this guy was a stud, he was a star, he was going to the NFL.
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And one of the mics said, hey, you know, John, what was going through your mind there when you ran out of the locker room the last day, senior year, bowl game, Alabama, who d they play, Clemson?
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Clemson, yeah.
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What was happening inside?
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He s like, oh, what was happening inside your mind?
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And of course, John came back with a very politically correct, well, I had butterflies, and I was just trying to think of, how do I make this into the best game ever in my senior year?
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And I know I m going to be playing the NFL next year.
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It was very politically correct.
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But here s the question.
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Is that really what was going through his mind?
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Oh, that s good.
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Did the other Mike ask that?
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No.
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Oh.
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No, my question would be, if you were to peer inside that guy s mind, he s a stud, he s going to make, what is he thinking about in that moment?
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So here s three options.
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OK.
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First thing he s probably thinking, man,
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Self, don t screw this up today.
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We say that.
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Don t get beat.
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Don t get embarrassed.
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Very common football thought.
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And I m sure it s for officials, too.
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Absolutely.
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It s like, you know, I m not going to try to be a star.
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I m just going to try not to be a heel today.
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We say, yep, the initials are D-F-I-U.
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That s what we say before we go out on the field.
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You can translate that.
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Yeah, D-F-I-U.
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Don t it up.
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Oh.
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Got it?
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Exactly.
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D-F-I-U.
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So that s number one that he s thinking.
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Here s the second thing he s probably thinking.
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Did you see that girl?
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in Section 25, Row 3.
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No, seriously, I thought, I think she was looking at me.
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She was really good looking.
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She wasn t sitting next to a guy either.
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I wonder if she s in a sorority.
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I wonder if I ve met her before.
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She s not sitting next to a guy.
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You assume she s sitting next to a girl or a pole or something or a big block of wood.
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But 22-year-old athletes.
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Probably different, yes.
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Think about it.
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Looking around.
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And the third thing he s thinking is, you know, I bought 37 cases of beer for the party after the game.
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I don t know if that s enough, because each one of my linemen drinks a case in 12 hours.
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Oh, that s really good.
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Yeah, that s good.
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And so that s what s going through his mind.
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So don t lie to me and say, well, I was hoping out to butterflies thinking about my career.
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No, you were thinking about things that other guys, 22, think about.
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A third of the men that run out of that tunnel, too, I ll say, are also thinking, man, I wish I would have peed before I came out here.
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I guarantee you they re all laughing, because they re all thinking that, because I tell you about every three games we get out there on the field, I m like, dang it, I should have peed before I came out here, because we can t go until halftime.
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Anyways.
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Hostage rates, Brian, have gone up again.
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You knew that.
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I knew that.
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Everything s going up.
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That means trips to the post office are an even bigger hassle.
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It s so crowded and so expensive, but thanks to stamps.com, you don t have to worry about that part of it.
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Just use stamps.com to automatically calculate and print the correct amount of postage for every letter or package you send.
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Stamps.com brings all of the services, all of the services of the U.S.
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Postal Service right to your fingertips.
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You can buy and print U.S.
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postage for any letter, any package, any class of mail using your own computer and printer.
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Stamps.com makes it easy.
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They ll send you a digital scale, automatically calculate exact postage.
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Saves you money, too.
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Right now, use my code ADVANCEDSELLING for this special offer.
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A four-week trial includes postage and a digital scale.
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So don t wait, go to stamps.com, click on the microphone at the top of the homepage, and type in ADVANCEDSELLING.
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Stamps.com, enter ADVANCEDSELLING and sign up today.
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With stamps.com, you ll never have to go to the post office again.
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Here is a question, another question today from a listener.
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And by the way, if you have a question, make sure you do a voice memo and send it in to listener at AdvancedSellingPodcast.com.
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Last year, we had AJ from Oklahoma.
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This week, did I say last year?
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You said last year.
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Last week, we had AJ.
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This week, we have Davis from North Carolina.
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Hi, Bill and Brian.
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My name s Davis.
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I m a listener in North Carolina.
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First of all, I want to say thank you so much for producing the Advanced Selling Podcast.
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You put so much time and energy into it, and I want you to know that you ve really helped me grow as I ve gotten into the B2B sales industry.
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My question for you today is how do you build a value proposition that s pertinent for multiple verticals?
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I m in digital and media advertising sales, so the possibilities for me in terms of prospects and clients is vast.
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I work with everything from doctors and lawyers all the way to small and medium-sized business owners in my area.
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Mostly B2C businesses are my clients.
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The problem is that I can t come up with a value proposition that can be changed slightly, but is still pertinent for me to use for all of my prospects.
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What are your suggestions for creating a value proposition that will resonate with business owners and decision makers across different verticals with relatively minimal changes in between?
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I m looking for a way to reach out to a large amount of
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qualified prospects without spending time creating new value propositions over and over and over again for every different category that I m working on.
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Thank you so much and I look forward to hearing your advice.
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Thanks, Davis.
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Another outstanding audio quality question there.
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That s exactly what I was thinking.
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And cool names.
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We ve got AJ and Davis.
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I love Davis.
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I know they re both women, but AJ and Davis sounds like we re making a boy band, doesn t it?
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AJ Davis, Ty, right?
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There we go.
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So great question.
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This is a question I actually have a couple of clients that fall into this category.
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And we re really going to take it on two fronts.
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So one is, what does that value statement sound like for different roles or levels in a company?
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The other is, some of you sell across markets.
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So some of you sell into different markets.
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So I ve got two clients that work in the advertising space, and they sell across multiple verticals.
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They re calling on a dentist, then a guy who owns a subway, then someone owns a dry cleaner, and then a major hospital group.
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And what do the value props sound like in each of those scenarios?
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So we re going to give you some tips and ideas here, both for Davis and for us.
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Everyone else listening.
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We have, in the past, talked about our disdain for the concept of a value proposition.
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Yeah, we have.
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And so we talk about it here as something that we have now fallen in love with.
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We really haven t.
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But let s say that we know what this means is, how do I depict my company and our value in a way that is compelling to the customer?
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That s good training for Davis.
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We can have her change the word value prop to story.
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Yeah.
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How does my story change when I m talking to?
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I love that.
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Right?
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And it sort of starts to change
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That wasn t even on the list here.
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That is all we need.
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That s it.
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Done.
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OK.
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That s it.
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Next time, the advanced.
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Yeah, thank you.
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Yep, yep, yep.
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OK.
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All right.
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So we have a couple of thoughts here.
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I do.
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Davis, thank you.
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Can I take one?
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Go ahead.
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Go, go.
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Something that people buy from you that you don t realize they buy is they buy your process.
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as much as they buy your product.
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And if the process that you take them through is valuable, that can be part of your story.
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And so what I mean by this is no matter who it is or what it is, so no matter what vertical I m calling on, if I have a process that takes people through some sort of discovery and feeds back to them some sort of assessment, I can do that with anyone, any business, doesn t matter what they do, how they do it, right?
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And the steps are going to be very similar.
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There s a lot of Q&A.
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There s some interviewing, that sort of thing.
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There may be some data analysis.
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And then I come back with some observations, recommendations.
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Bill mentioned a few weeks ago, the fellow who s passed away, who s a sales trainer.
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who Chet Holmes.
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Chet Holmes.
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Didn t you say he did this, where he came up with this big list of things?
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He talked to someone.
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He came up with like 23 points.
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Oh, yeah.
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Right?
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That s an example.
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So Chet Holmes would have a conversation with the CEO, come back with 23 reflections, 23 recommendations to do, whether or not he did them with Chet or somebody else didn t matter.
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And you can do that.
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It doesn t matter what the business is.
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It could be a dog groomer.
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It could be a major hospital.
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Here s an analysis based on our outside opinion, what we think you should do recommended-wise.
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around whatever function you do, advertising or IT.
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And then that applies across the board.
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I like that.
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Sell the process, not the product.
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So the process then, in this case, includes some type of an assessment that the salesperson would go through with the customer.
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And then the spitback from that is a list of things or options or value.
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And some positive things, too.
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If they re doing things right, say, yeah, you re at the high end of this.
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This is really good.
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We had this done with our friends.
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We went downtown to the newspaper group there, and they said, hey, here s some things you guys are doing really well.
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It was very helpful.
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It was very good.
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So this gets back a little bit Brian to this idea of an assessment and we ve really not gotten into detail We need to do that at some point.
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But what I find that that s a missing link in a lot of sales procedures is the analytics or the assessment and this is not this is not a
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pain step where you re saying, well, Brian, what are your biggest problems?
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I mean, we want to know that.
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But also, at some point, the customer wants to know, well, if I buy this, what s going to really change?
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And that s where the assessment can expose some areas that, for the customer, maybe they didn t know they had problems.
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Yeah, really good.
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And that s good.
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And the best part of that, everything you said, in my mind, is tell people things they didn t know existed.
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Tell them about issues or problems they didn t know existed, they were blind to.
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Or maybe they were in denial of.
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I think that s really important to do.
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Well, let me go back to something you said, and I know I ve drawn this many times, you ve seen it, you re tired of seeing it, but it s the whole iceberg concept where there s the known problems atop the iceberg, above the water, and there s the unknown problems below.
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Beneath.
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Yeah, beneath.
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Most of the money for you comes in finding problems they didn t know they had.
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And that s a little harder than problems they know they have.
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But this can turn into a commodity game.
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Well, I know I ve got a problem.
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Hell, I can hire Brian, I can hire Bill, I can hire John, Charlie, doesn t matter.
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But if it s below the line, then it probably requires you and some sort of an assessment or some sort of shining the light on their business to discover that.
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You then, because you ve discovered it, own it.
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I love that.
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You own it.
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Own beneath the water.
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Own beneath the waterline.
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I like it.
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So you can go ahead now that I ve shared a couple out of turn.
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The old iceberg.
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I like it.
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OK, this is a mentality thing.
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And so if you re looking for developing stories across function and across levels, I want you to change your mentality of how you show up.
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And this is a little trick that I ve used myself for the past few years that seems to work well for me going in, getting prepped.
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And that is each sales call I go on and conversation I have, I go in as if I m representing an equity firm and my own equity firm with my own money, and I m going to buy the company.
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And think about how your energy is and how it changes when you re going to buy a company.
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And I think if you do that,
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that the way that you ll position yourself will start to change also, that you ll say things that are higher level and in their word.
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So if I m going to buy a chain of pizza stores, I m going to have that stuff in my head if I m going to buy it.
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I m going to have done some research and understood what their language is.
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You ve got to put things in their own voice.
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So if you re going to buy a company, you would never go in blind and say, no, what do you all do here?
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You would do some research and get ready for it.
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And then when you were there, you would know some of their lingo before you got there.
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So you know things like, what s your breakdown of labor cost to food cost if you re buying a quick-serve restaurant?
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Or if you were going to buy a funeral home business, you would say, so what are the number of calls?
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What s the relationship of cremations to burials and things like that?
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So understand their verbiage, their nomenclature.
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Change your energy like you re going to buy.
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And I think you ll see your story changes.
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And it will foot across all, any market that you do.
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It ll cause you to learn their lingo.
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That s good.
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So I m going to take that in a slightly different direction.
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I like that.
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And that is this idea of what is the financial lingo that you need to know.
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And lingo, so what s the financial language that a customer uses?
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Well, let s talk about if you re in the digital media space, you re probably helping them either drive traffic to a site or to generate discussions, phone calls, call-ins, whatever.
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So you need to know this term called lifetime value.
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What is the lifetime value of their customer?
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So that s a term, and not just a term, but you need to understand, well, what does lifetime value mean?
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Because if you can, the fact is, no matter who you re calling on, whether it s the apparel shop, subway shop, auto repair shop, they have to look at their customers as having a value to them, not a one-time value, but a lifetime value.
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And if you can help the owner see that his customer is not worth $1,000, but it s worth $1,000 over 20 years plus referrals, it s $100,000 lifetime value, they may be more likely to spend 10 grand to get that person.
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Beautiful.
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So you have to understand the language of marketing and financial language.
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Another piece of language you need to understand is my favorite, EBITDA.
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And I know that we all talk about it, and some of us know what it is, some of us don t.
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Learn that, because at some point, the owner of that company is going to say, how are you going to, if I invest in this, what s going to change on my bottom line?
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And it s earnings before interest, taxes, and depreciation, amortization.
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And so it s a net profit kind of thing.
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It s a cash flow profit.
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As you go into these, I can tell you that I don t care who you re calling on, they re paying attention to that.
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Or somebody is.
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So take these common themes that fit across all industries.
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And then if you re calling on the VP of sales, they may not understand EBITDA, but the CFO might.
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So you can alter your approach based on the role you re calling on.
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That s beautiful.
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And if you re calling on a smaller business, then they understand cash flow.
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They do.
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So it s universal business language is the key to this positioning statement for you.
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So things that we care about, we want to understand cash flow.
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Some people call that EBITDA.
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Some call it NOI.
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They re different words for it, but everyone gets it.
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And so that allows you to go across markets and across levels.
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Here s another one that we didn t mention, and that is, and it should be vital for you, Davis, is what s the acquisition cost of a customer?
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Oh, it s great.
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For your customers, what are they willing to spend to get a new customer?
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Now, one thing you need to know about the new customer is what s the projected lifetime value of that customer.
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I know we re getting into maybe some, oh my god, my head s about ready to explode, but for a digital marketer, anybody who s selling business growth, which she is, and we are, and a lot of people are, you better understand customer acquisition cost and what are you willing to invest to get a customer.
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Have to do that.
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Good stuff.
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I m out.
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You got anything else?
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You said they buy the process, and I would agree with that.
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I also think
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Davis that they buy your confidence and your commitment to finding out how you can be of service to them rather than pitching them something.
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So they buy the process.
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What the process does for you, it gives them confidence in you.
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that it s not just your personality showing up, winging it.
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You have a procedure that is guaranteed, if they follow it, to give them value.
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That inspires a ton of confidence.
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So you can call it trust.
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You can call it confidence.
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I think a lot of times we talk about confidence on the other side, like how do I display confidence?
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And I m like, well, who gives a damn about what you re displaying?
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I want the customer to have confidence in me when I show up.
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And then they re more likely to buy and be a partner with me.
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And if you want to display real confidence and display it, wear peacock feathers.
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Isn t that what peacocks do?
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They spread their little peacock feathers when they want to display.
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And they say to each other, there s a confident gun blast.
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Wow, look at that fellow over there with the big spread.
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Oh, that s great.
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Easy there.
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And can we give a shout out?
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My good, good friend, her son, his name is Davis.
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His name is Davis.
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It s a boy named Davis.
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But I thought he might listen to this.
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This is the kid that listens to the podcast with his mother?
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This is not the kid that listens to it with his mother.
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person that listens with his mom, but we ll say I did Davis.
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You have a whole bunch of Davises.
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Is that your demo?
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Davises, exactly it is.
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Ooh, that s a demo.
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There s a digital media thing.
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Demo.
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See, keep going.
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Never stops.
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All right.
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That does it for today s episode.
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Brian had some good advice today.
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So did you, Bill.
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I ll tell you.
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He s strong.
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Really strong.
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You outdid me today, because we keep a running log of who has the best advice.
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You win today.
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I disagree.
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If you haven t downloaded a free copy of the Ultimate Pre-Game audio program, do so right now.
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Go to ultimatepregame.com to find it.
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Check out the products page while you re there.
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We d love to see you.
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We d love to be on the road out with you and your team.
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So if you have a retreat, a sales meeting, a strategic blah blah coming up.
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We would love to be there.
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Email us at listener at advancedsellingpodcast.com.
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Get the ball rolling.
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Love to hear from you.
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Send us your question as a recording, just like Davis did this week and like AJ did last year, as I said earlier.
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And also download our app in the iTunes app store.
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We re going to be running some promos at some point, and that s for app users.
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So see you next time.
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Bye.
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Bye.