In the latest episode of Velocity Selling TV, Bob Urichuk and Matthew Whyatt discuss the fifth step in a sale, decision making. Also, don’t forget to download the free guide below the video.
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Velocity Selling TV Episode 66: Step 5- Decision Making Process
Bob: Welcome back to Velocity Selling TV, episode 66 on decision making. Over the past few weeks we started episode 62 to identify the steps of the buyer focused Velocity Selling System. Step one build rapport, step two set the parameters, step three uncover buying motivators, step four uncover financial ability and today in episode 66, it is uncover decision making. I’d like to welcome Matthew Whyatt in Australia to help us get through the decision making step. Matthew welcome back.
Matthew: Thanks very much Bob. I really appreciate it. I’m really enjoying going into this more of a deeper dive when it comes to each one of these elements it’s so important. This eight chapters that we go through, if this is the only thing you watch with Velocity Selling, this is a key way you can improve your sales. Decision making process, super simple stuff. What we want to do is once again, you’ve moved through financial ability, you know what you want to spend, you’ve got a bracket, you’ve got some sort of idea about their budget, review their problems again, review their budget again, and then simply ask the question that I love to ask, and I’ve been asking this question for twenty years, So other than yourself, is there anyone else involved in decisions like this? Or other than yourself, is there anyone else involved in the decision making process? What it does is a couple of things, it respects that they’re involved, but also gives them the ability to tell me about other people. If you just say can you make a decision, it challenges their position in the business. It opens up the possibility that actually statistics is, business is between a hundred and to five hundred individuals require seven people to be involved in almost any decision requiring any new budget. That’s a really important thing to know and to start involving whether it’s a committee or a group or board and then you try to sit on their side and help them win that through their decision making process. That’s how we actually want to make sure that we’re uncovering that decision making process. Bob have you got anything else to add?
Bob: Yeah, the biggest question of all. When will you be making a decision?
Matthew: Of course.
Bob: Now Matthew let’s discuss when. Now I know you’re waiting on this one. Why is when so important?
Matthew: Buying cycles, especially in large B2B environments are so long and so painful that a lot of times sales people often find themselves disheartened by this future, this horizon that seems to continue stretching out forever and a day. If we get really clear on when, then it sets the emotional position for the salespeople and also gets the buyer to commit, because remember, everything the buyer says is true and correct and everything the salesperson says is questionable as far as the buyer is concerned. So we want to make sure that they are telling us what their timeframe is and then we of course can understand why that time frame exists.
Bob: Of course. And also from a point of view, when do we want to present? If they’re going to make a decision, six months from today, let’s not waste their time doing a presentation today. If anything, we’ll get back to them later, let them visit other competitors if they need to and we’ll come back in six months and finalize the deal then.
Matthew: Absolutely. It also respects, and I’ve said this to customers, if it’s not going to be for another quarter or six months or whatever it is, it’s not unreasonable to think that things might change between now and when you’re going to make a decision, how about I come back then, ask a few more questions so we can provide you exactly what you need at that time, and we can go from there. Does that sound reasonable, yes it does, and boom, you’ve moved out of there, you’ve kept your powder dry if you like, and you can actually really nail what they need at the time when they need to make a decision.
Bob: The only comment I would make on that Matthew is I would engage them to give me a commitment of what they would like to see in the process, you know, their whole decision making process and when would be a good time to come back. Again, the customer leads and I think you’re eluded to that, it’s all about the customer, their time scale, their schedule, their time, we’re there to make sure to get a commitment, or to get a clear future because we’re certainly not going to get a yes or no today.
Matthew: Absolutely, great point Bob.
Bob: That’s fantastic. So there we go, we just covered step 5, decision making. We’ve talked about rapport, set the parameters, buying motivators, financial ability, decision making, and next episode what we’re going to do is we’re going to pull it all together and we’re going to summarise and the summary step is a very important step, so please join us next week for episode 67 on summarising.
Matthew: Fantastic.
Bob: Thanks again, have a great week.
Matthew has been involved in the growth of many businesses across multiple industries including, health products, software development, IT consultancy, Real Estate and franchise sales with personal sales of over $100 million.
After all of this hard work Matthew took a year off with his wife and two children in Bali. After returning to Australia Matthew was ready to take on his next challenge, following his passion in Sales, and joined the Velocity Selling team as CEO.
