In this week’s Mindset Monday, we focus on the concept of “Know Your Value.” This refers to not forgetting that you have value to offer when you are selling and performing prospecting.
Easy to Get Down
This is important and helpful because selling can be tough, especially if you are performing cold outreach and cold prospecting. You are guaranteed to face objection after objection. And sometimes it can feel like nobody is responding to your cold emails, direct messages, and voicemails.
When this happens, you can start to have doubts and think:
Maybe nobody needs this.
Maybe my product is not very good.
Maybe I am not good at this.
But this type of thinking is not correct, and that is because you have value to offer. Regardless of what you sell, you have value to offer. Not only does your product or service likely help your customers in some way or another, but you also have value to offer your customers in terms of knowledge and expertise.
Demonstration Example – Selling Gym Memberships
Let me show you what I mean with an example of a salesperson trying to sell gym memberships. If that salesperson cold approaches people walking by the gym, they are going to get objections and rejection from almost everybody they try to stop. And this can cause the salesperson to have doubts and wonder:
Maybe nobody needs this.
Maybe my product is not very good.
Maybe I am not good at this.
That is not the correct way to see things because, first of all, the majority of people who are walking by do not fit at all with the product being sold. This is because they already have a gym membership, have zero need for a gym, or cannot purchase for other reasons, like financial or budget constraints.
But there is a slice of the pie that is people who are walking by who do need or might fit with what the salesperson is selling. And to these people, the salesperson has value to offer. Since this is typically a smaller part of the pie, it can be easy to forget and lose sight of the value offered, and that is why we are taking the time here to talk about stopping and remembering that you have value to offer.
Product-Focused Sales Pitch
This dynamic of getting beaten up and beaten down by objections is actually made worse by the type of sales pitch most salespeople use. That is because most use a product-focused sales pitch, which focuses primarily on the product they are trying to sell.
If our gym membership salesperson uses this common approach, they are going to be communicating a message that only fits well with the slice of the pie that is prospects who need and are looking to purchase the product being sold. That means there will likely be objections and rejection from prospects who may fit and may need, but were not communicated to correctly due to the product-focused sales pitch. That will likely lead to objections and rejection from prospects who could likely fit and be sold to. This leads to even more doubt about the product being sold.
Tremendous Value Offered
But this salesperson has tremendous value to offer to many people walking by and to those who might be interested in the product. The gym this salesperson is selling access to helps people to:
- Improve their health and fitness
- Lower stress and have more energy
- Improve confidence and mood
- Improve relationships and career performance
That value is very powerful, and there are many people who are not actively looking to sign up for a gym who would not only benefit from those improvements but would likely be open to talking about them.
With a clearer understanding of these benefits and having them at the forefront of the salesperson’s mind, they can improve their overall mindset. This can not only help them to have more confidence and clarity when performing cold prospecting, but it will likely help them to communicate better when talking with prospects because they will be more likely to talk about the improvements as opposed to just pitching the product and features.
