Pricing is all about value. The more you give, the more you win. This is a very simple concept, yet it is not as easy as it sounds. In today's digital age, it can be easy to fall into the trap of trying to be everything to everybody. It's important to remember that by setting boundaries and charging accordingly, can help you create a stronger brand and a stronger business. This Sales on the Rocks episode is here to tell you why you don’t need a million and one offers to reach your revenue goals, how scarcity works in sales and why it is so damn effective as well as how to properly execute the scarcity tactic with your business and the first few things you should be tracking and monitoring after hiring a salesperson.
What’s in JJ’s glass: Parker’s Heritage Collection | Heaven Hill Distillery
This Cast Covers:
- JJ went on a wine-tasting tour that used a reverse psychology scarcity tactic on them (03:28)
- Is this scarcity tactic something that you can also spin in B2B sales or more for D2C only? (06:01)
- Joey exposes Bugatti for incorporating the scarcity tactic really well in their sales (07:27)
- Stuff we said we’d never do but are now doing (12:19)
- The most advantageous way to package your services and why less is more is always the way to go (17:05)
- A problem JJ keeps noticing with the clients they work with wherein they can’t or won’t execute the sales management training we’ve given them (21:54)
- Why founders and business owners either overlook the sales accountability tools we give them despite training and coaching them on how to use them (23:24)
- A solution Joey proposes that’s honestly the most basic and non-negotiable activity you need to do if you want to fix this issue (24:17)
- Joey and JJ workshop through how to train salespeople using a phased on-ramp and what trainers should be looking for from one phase to the next (26:17)
- Activities Joey would love to see sales reps doing in the first couple of weeks of their training (27:40)
- Why it’s important to not only track activities but also focus on measuring the outcomes of those activities, such as the number of FTAs booked (28:54)
- This same kind of measuring and tracking activities and outcomes of sales reps can also be used in our timeline with clients (31:33)
- Defining the win at different stages in the engagement is a mappable application (31:53)
- Joey and JJ go into a semi-deliberation between two candidates who are gunning for the closer role at SDA (36:23)
- If we both had to make a decision today, who would we pick from the two (45:46)
- Why JJ actually liked trying to sell the role to the candidate because it feels like the candidate has the upper hand (47:04)
- Joey puts JJ on the spot with this question: What's it like making as much money as you're making now? (50:27)
- Generosity is a great metric of mastery over money (20:59)
- Joey’s core focuses or thoughts around generosity (23:10)
- Having a purpose for your money (25:41)