Selling in The New Economy - Why Old Techniques Don't Work Anymore

Introduction

The video discusses how selling has changed in the new economy and how consumers now have access to more information than ever before.

Selling in the Past vs Present

• Consumers buy differently now than they did 20-30 years ago.

• Technology and the internet have given consumers access to more information about companies, products, services, pricing, and competitors.

• Consumers are no longer manipulated by pushy salespeople because they know they have many other choices to choose from.

• Consumers can arm themselves with all manner of information before making a purchase decision.

Impact on Salespeople

• Consumers view salespeople as having an ulterior motive and being out there to manipulate them into buying something that they don't want to buy.

• Salespeople need to adapt their techniques to match the changing consumer behavior.

Traditional Sales Techniques

• The video questions whether traditional sales techniques like assuming the sale, always be closing (ABC), filling felt down 3 when trying to overcome objections, long presentations and sales pitches or asking questions to get them to say yes still work in today's market.

Traditional Selling Techniques vs Building Successful Relationships

In this section, the speaker discusses traditional selling techniques and how they go against building successful relationships. He gives an example of a sales trainer who still uses these old techniques and explains why most salespeople feel uncomfortable using them.

The Old Model of Traditional Selling Techniques

• The old model of traditional selling techniques focuses on closing the sale, being strong, overcoming objections, being relentless, accepting rejection as normal, chasing the sale until they say yes or no.

• The speaker gives an example of a sales trainer who still uses these old techniques and calls himself "The Hardcore Closer".

Why Most Salespeople Feel Uncomfortable Using Traditional Selling Techniques

• According to a recent survey on salespeople in North America, 82% of salespeople do not feel comfortable using traditional selling techniques.

• Traditional selling techniques go against everything we know about building successful relationships.

• If you were trying to get someone interested in dating you and all you did was talk about yourself and pressure them into going on a date with you, they would reject you. Similarly, customers are turned off by pushy sales tactics that don't focus on their needs.

Why Haven't Salespeople Changed Their Approach?

• The consumer has completely changed the way they buy and react to salespeople but many salespeople still sell like they did 10 years ago or even 40 years ago in the 70s.

• Most sales training gurus are older individuals who may not be up-to-date with modern customer behavior and preferences.

Outdated Sales Techniques

The speaker discusses how traditional sales techniques taught by old sales gurus are no longer effective in the current market.

Old Sales Gurus

• Joe Girard, an old sales guru, is known for his book "How to Sell Anything to Anybody" and holds the Guinness World Record for most cars sold in a year back in 1963.

• Girard's outdated sales technique involves lying to prospects about having been to places they mention visiting.

Negative Effects of Traditional Selling Techniques

• Using these outdated techniques can cause consumers to not trust salespeople and ultimately reject what they're offering, leading to lower self-esteem and lack of confidence for the salesperson.

• According to payscale.com, the average North American salesperson makes only $42,340 per year using these traditional selling techniques that are no longer effective in the new economy.

The New Economy

• Many experts believe that we are now living in a new economy where traditional selling techniques trigger rejection and objections from customers at every turn.

• The seven-figure salesperson knows another way that works effectively in this new economy.

Post Trust Era

The speaker talks about how we live in a post-trust era and how it affects salespeople.

Post Trust Era

• We live in a post-trust era where people have become skeptical of marketing messages due to past experiences with false advertising and scams.

• This has led to consumers being more cautious and less trusting of salespeople, making it harder for salespeople to close deals.

What Salespeople Can Do

• Salespeople can build trust with customers by being transparent, honest, and providing value.

• By building trust with customers, salespeople can differentiate themselves from the competition and increase their chances of closing deals.

Changing Your Current Situation

In this section, the speaker talks about how they can help change the listener's current situation.

How to Change Your Situation

• The speaker mentions that the listener will continue to get the same results if they don't make a change.

• The speaker offers to help the listener change their situation.