Modern Sales Training #3: Sales Value Propositions & Cold Calling Talk Tracks | Derek S. | Skillshare

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Modern Sales Training #3: Sales Value Propositions & Cold Calling Talk Tracks

teacher avatar Derek S., President, Modern Sales Training

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Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

17 Lessons (57m)
    • 1. Value Propositions Overview

      1:57
    • 2. Welcome to the Modern Sales Training Series on SkillShare!

      2:04
    • 3. Value Propositions Basics

      4:00
    • 4. Understanding What Makes Your Product Special

      2:29
    • 5. Understanding the Criteria of your Client

      2:49
    • 6. Connecting the Dots

      2:18
    • 7. The Formula of a Value Proposition

      3:08
    • 8. Value Proposition Do's & Don'ts

      5:30
    • 9. Value Proposition Example #1

      6:19
    • 10. Value Proposition Example #2

      3:27
    • 11. Value Proposition Example #3

      4:04
    • 12. Structure of a Cold Calling Talk Track

      6:48
    • 13. Example Cold Calling Talk Track

      2:36
    • 14. Structure of an Elevator Pitch

      3:42
    • 15. Example Elevator Pitch

      2:49
    • 16. Value Proposition Course Summary

      1:52
    • 17. Podcast Details and How To Get More Coaching

      0:55
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About This Class

>> The fastest growing Sales Training Series on SkillShare! Learn directly from an actual Sales Director of Training for a Fortune 500 Company!  Take your knowledge past sales theory.  The material inside is being taught to sales professionals in the business to business space today! <<

How do you know if the talk tracks you're using to set appointments and close clients are good enough?

In sales skill part 3 of the Modern Sales training courses you will learn how to create value propositions that help you in all parts of your sales career.  What you say to get clients interested in meeting with you is important and the better your sales skills are, the more effective you will become.  At client meetings you have moments to connect what they care about most to what you could offer them.  When closing, there is a transfer of excitement and the importance of them remembering why your product or service is special.   Get ready to learn sales techniques of how to create and structure value propositions, phone cold calling talk tracks and elevator pitches that will result in higher commissions.  

The Modern Sales Training video series is a comprehensive 11 part course taught in a one on one coaching format.  You will learn directly from a highly successful Fortune 500 sales coach who has trained hundreds of sales reps, sales managers and vice presidents in their sales careers.  The sales strategies you will learn are still being taught in the sales training classroom today.  

The 11 part sales skills training program consists of:

  1. Increase Your Sales Commissions by Winning The Numbers Game
  2. Understanding Why Some Customers Buy and Others Don't 
  3. Sales Value Propositions & Cold Calling Talk Tracks
  4. Creating a Customer List for Effective Cold Calling (Coming Soon)
  5. Cold Calling Master: How to Prospect on Foot
  6. Cold Calling Master: How to Prospect over the Phone
  7. First Appointment Sales Tips That Close for the Next Step
  8. Proposal Tips from a Sales Pro that Maximize Gross Profit
  9. Sales Objections Simplified
  10. Creating a Sense of Urgency (Coming Soon)
  11. Tools for Dealing with Rejection (Mindset)

Meet Your Teacher

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Derek S.

President, Modern Sales Training

Teacher

Hi there, I'm Derek and I'm the President of Modern Sales Training.   

For the past 17 years, I've been working for Xerox Corporation and helping develop business to business (B2B) sales reps and sales managers into consistent top performers.  Now I do that for people all over the world.

If you want to learn how to sell from someone who actually does this for a living, then you've come to the right place. I can't wait to join you on your journey.

HOW I TEACH SALES:

I will be sharing concepts that I use in my classroom and from field relevant performance. I don't just teach people how to sell, I also have to go out and show them how it's done. I don't train in theory. Just in what works. My style of training will be a "talking hea... See full profile

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Transcripts

1. Value Propositions Overview: Hi. Welcome to modern sales. My name is Derrick Shelby. And today we're gonna talk about delivering a value proposition that compels your customer to buy. Are you trying to set appointments with customers but don't know what to say? Outside of cost savings reasons. Have you ever been out sold? Someone delivered more value to you? Have you told ever told a potential customer what major product or service special And they forgot about it. Are you trying to sell your product or service with more value and having trouble? Are you having trouble getting people interested in general in your product or service? If you had the chance to present your product or service to somebody and only had one minute to get someone interested in it, what would you say? So in this course, I'm gonna teach you how to create a value proposition to do an elevator pitch for a customer also to set an appointment for a customer. So if if you're trying to figure out what am I going to say to set an appointment with a client? I'm gonna teach you that. And then also most importantly, how to use value propositions to get someone interested in moving to that next step for your product or service. There's a lot, of course, is out there for value propositions and a lot of more outdated. They might not be something that's relevant to what's happened out there in the in the field today, and I currently work for a Fortune 500 organization and I'm a sales director of training for the organization, which means that I trained all the sales reps, all the sales managers and sales vice presidents. I do this for a living and I go out there in the field and I showed them how to do it in action. So I know it works, and I know it'll work for you, so I hope you join me. 2. Welcome to the Modern Sales Training Series on SkillShare!: thank you for enrolling my course. I really appreciate it. And I'm committed to working with you to improve your business to business sales skills. If you're new to my courses, I've got a few tips that I hope you get the most out of our time together on my website. I have the complete manual for every single one of my modern sales courses on here. You can get to this page this skill share resource page by going my website, www dot modern sales training dot com ford slash skill share. Resource is this is just for skill share students, which a notice on here is that I have every single course they're meant to be watched in order. So if you haven't watched some of these earlier courses, I recommend doing it because I commonly refer back to these courses in my later ones. It's all starts with increasing your sales commissions by winning the numbers game. Big thing on here to notice, though, is that in my course resource is I have the course notebook free to download. All you need to do is click this button and you'll get the course notebook. I highly recommend that you down though the course notebook as you're going through each of the courses, you'll also notice that my website is packed with sales tips and there's tons of stuff as well, for on prospecting the preparation mindset, even stuff in my blog's recommend you checking out there is so much that you can learn on this website for business to business sales. So before you get started in this course, make sure you're downloading the course notebook cause it's meant to follow along with what you learn inside of each of the lectures. Lastly, I have educational message that specifically build upon this course. I have that inside of Instagram and avid inside of my Facebook group. So I frequently have one on ones with with students from this course and all my courses in which I practice and help them build upon the things they learned inside of the set This sales skill set, I recommend you check those both out. Listen, if you have any questions whatsoever, I'm here for you. I want to help. All right, let's get on with the course 3. Value Propositions Basics: Okay, We're back with modern sales, and we're talking about value propositions. Have you received a phone call that says, Hey, sorry. Sorry. Derek, thank you so much for your time and effort. But we're going to go with the other vendor. We're gonna go with the other. The other option. Has that happened to you? Well, let's really think about this. What happens behind the scenes most the time when we're working with customers were not always working with the the final decision maker. And we're not working the disciple final decision maker. That means we're relaying what's so great about our product or service to someone that has to go take that information to the final decision maker. So what's happening behind the scenes? This is what happens most the time. From what we see in today's business world, let's say you're working with your contact and your contact. You got them really interested in it. And they say, You know what? Yeah. I want to go with derricks, product or service. I like derricks, product or service. Well, that contact walks into their boss's office and in their boss's office, the boss says. So who should we go with your contact. Says I want to go with derricks, Product or service? It's That's great. I like it. And the bosses going to say, Well, what's so great about it? And they're going to say, Well, I really like how their product did this. And the bosses going to say, Okay, what are the other options have? Do they have that, too, in your contacts? Going to say, Um, yeah, they have that, too. And the Boston say Okay, so what's what was better about it? They're going to say, um, I don't know. I just really liked it better. The boss is Okay. Well, what else did you like about it? They said, Well, I also like how it had this great feature. I think I could really help us out. The bosses. Okay. Yeah, that does sound like it could help us out. We'll do the other products have that too. Ah, yeah. Okay. Well, if they both have it, how does it compare in Price and your contacts can say, Well, they're less expensive. Derricks. Product is more expensive. The boston and say, Well, you haven't been able to tell me why. It's better than the alternatives. So if it's not any better and it's all the same, why wouldn't we go with just the less lesser price? And then your contacts like, Yeah, you're probably right. And then what happens is they're calling you up saying, Sorry, I really wanted to go with you But that's that. That's what we decided as a company to go with someone else. This happens every single day and you're going, Why did they go? Somebody else? I told them about why it's better, but what happens is the customer doesn't remember. They don't remember what it is that you said that separated your product from somebody else and remembering it's so important. So where did it all go wrong? It really comes down to the value proposition. And if you do a value proposition correctly and follow the formula that I'm gonna lay out to you in a couple of videos from now, you'll see that when you do it the right way, people will remember why your product is superior to somebody else's or your services better than someone else's. So, in this specific section, we're going talk about a couple things. We talk about understanding what makes your product or service special? Because if you don't know what that is, then you know you're in trouble already because you're not gonna be able to deliver value proposition. Second thing we talk about is knowing the criteria of your customer. What makes what's so important to them that that your products gonna help them with the criteria. So we'll talk about that. And the third thing is, we're gonna talk about how you connect the dots between what makes your products so great and the customers criteria. And once we have that foundation, then we can get into value propositions, so let's get started. 4. Understanding What Makes Your Product Special: okay, We're back with modern sales. And now we're gonna talk about understanding what makes your product or service special. This seems like one of the most basic things. Because when you're going when you're selling your product and service, you're doing it because you know it makes an impact for people, right? You chose to sell it. You chose to be involved in this field because it helps people in some way. Do you know what those things are? You know what those reasons are? I have a course that is titled Why some customers by and others don't. And I talked all about all the reasons that people actually make a move from staying with the status quo toe buying something new. And I recommend you watch that cause I'm just gonna give you a high level overview it right here. The most important reason why customers buy our because of new features and capabilities that can impact people's business that's relevant to their business as well. So, for you and your company and your business, do you know what those features are? What those features and capabilities are is that clear in your mind why somebody would choose you versus another vendor because of the features that you offered that they might not have or the services that you do better than other vendors do. Do you have that listed out? So you can say this is a reason. This is another reason. This is another reason this is another reason. Do you know what those are? Because that's the foundation of a value proposition. You have to be able to know those features air services. So on top of that, top of those reasons. Another. In order to be great value propositions, you have have to have a good, solid understanding of the industry that you're in. Do you know why people where your product or service fits into the grand scheme of things? Do you know how it helps people's businesses? If you know those things were ready to continue on, so the first thing understand what makes your product or service special? Have him written out maybe 1 to 10 so you can take that information and as we continue on these videos, you'll be able to connect those specific features, and I'll help you turn those features into a value proposition that'll get your product or service sold. So let's keep going 5. Understanding the Criteria of your Client: okay, we're back with modern sales, and now we're talking about the criteria of your customer and understanding what that is. So for new clients, do you know what's important in their industry? For whatever it is that you do anything in sales, the people that you sell to the reason why you have a job in a profession to be able to sell something to is there is something that you're solving for them. There's something that they're looking for in a way that you fit in. Do you also know specifically, Do you know what's important to the client? The role of the company that they're in? Because sometimes if you're meeting with the president or the chief financial officer or the I T manager or the office manager, whatever title that they're in, do you know what's important to them? Do you know how your product or service can help that person get the goals that they're trying to accomplish? Really, when one way to look at this and I talk a lot about this inside of my first appointment course, and I talk a lot about this in my e book as well had asked Great questions you need to find a way to get in the car with your customer. I use that analogy because every single day for you, when you're going to work or when you're driving anywhere you've got a purpose. You've got a place that you want to end up at. Do you know what that is for your customer? Because if you can find a way to help them get there better or quicker, more, more effectively saving them time you know it. We're saving the money also as well. If you know how to do that, then it's gonna be an easy sale for you. But the challenges is how do you get the customer toe? Let you win on what they want to do? How do you get them to say You know what, Derek? You know, let me let me let me tell you what we're companies trying to accomplish. If you know what that ISS and you're in the car at the customer together trying to help them reach their goals, that's the That's the ultimate goal for you. And when you do that, you really understand the criteria of the customer, the ways that you're able to find this out is by asking good questions and understanding where to drill in MAWR when you meet with them. So make sure that you spend time learning how to do that because that's gonna help increase your your sales. And at the end of the day, when you understand the customers criteria and you're able to match it with your feature in the right way, then you got a value proposition that wins. It's also critical in ah, making your value proposition stick by knowing this this criteria. So next we're gonna talk about how you connect the dots. 6. Connecting the Dots: Okay, we're back. And now we're gonna talk about connecting the dots. So I just talked about understanding what makes your product or service special and how important that is and being able to put together a value proposition. And then I talked about putting together the customers criteria and finding that, being able to understand what that is now when you have both of them, What you're trying to do is you're trying to find a way to connect the two, because if you have a product or service that can result in helping the customer get where they're trying to go, you gotta win. And this is difficult because where the customers trying to go could vary from one customer to another. They're not all the same, and your product or service could be very simple. It does this, and it does that. So when you're connecting the dots, it's so critical. The big part of this is tailoring your benefit, which one to go through next, but your benefit into the same language that your customer just gave you for their criteria . So if your customers talking about trying to save money so they can expand to another location growing their business. That's what's important to them then. And you have your product or service and your future. Typically, you say, Oh, I help people save money. The way that you connect the two is you'd say, Oh, this feature will help you save money so you can expand to other locations Taking your normal talk track and combining it with the customers criteria specifically using the same words that they had that they gave you is going to create a value proposition that will stick. And I think of that as connecting the dots. So for you make sure that every single value proposition that we started going into and learning how to do from here on out, make sure that you always remember to tailor that benefit statement to the customer and exactly what they said to you. So next we're gonna go into how do you put together value proposition? So while this can come together in a way that gets you more sales 7. The Formula of a Value Proposition: Okay, we're back. And now we're gonna talk about the formula of a value proposition because this formula, some things you can apply to your products and services and the list of features that you've already identified that is important to your product. Okay, so where you are in the sale just to frame this is your gonna be in front of a customer and in front of that customer, they mentioned something to you that triggered you know what? I've got this thing that could really help them out. Whatever it was that triggered that, let's call that criteria. So when that happens, there's four parts of constructing a value proposition. The 1st 1 is using the appropriate feature. I'm gonna give you examples in a second, but just think customer just said something to you in the you know, wherever you met them, they said something to and you go, you know what? I know It could really help them out. So specifically, you're thinking about a feature that could help them. That's part one. Identifying that feature part to this is this partisan was the one that from what I see sales reps, sales managers and BP's forget the most, and this is critical for making it's sticky. So you need to make sure you describe whatever that your feature is like You're telling it to a five year old child. Okay, because what happens is salespeople is We typically think that when we just mentioned a feature, it's gonna be self explanatory, and everyone's gonna understand it. But that's not the case. You always got to take time to go through it, explain it like they don't like. They don't even know it like they don't understand and take your time with it because going through this part is critical for them. Remembering this value proposition. Okay, now, the third part now is where you relate this feature that you just explained to the customer as a benefit. Okay, so you got feature explanation benefit. So the benefit. Typically you might already have as a default. You might say to different customers different ways, but you specifically want to try to find a way to relate it to their criteria. I'll show you some examples how to do that in a second, but the first step after you do that. So after you talked about the feature after you went through the explanation of like their like their child and then told them the benefit to them now is where you were you closed for the next step, you gain agreement or you test for understanding. So now is where you have to make sure that you clearly show the customer that this feature is something that could actually benefit them. But only they can tell you if they if they thought that it would benefit them or not. Right, So you have to have that fourth step. Okay, So next I'm gonna go through just some do's and don't in getting delivering value propositions, because if you do this incorrectly, it's not gonna work. Even if you follow the formula, something go through that next and then I'll go through some examples 8. Value Proposition Do's & Don'ts: Okay, we're back. And now I'm gonna talk about some of the do's and dont's for your value proposition. So now you're you've got the formula, and now you're starting to think, Oh, let me plug this in for myself and see how it works. Well, before you get crazy, before you start doing it, let me just talk to you about some of the things you need to make sure you do and things that you make sure you don't do when you deliver these value propositions. So, first of all, let's talk about the things that you've got to do because it will make sense about the things that you don't do. So first thing is you have to follow the process. You have to follow the formula. If you don't follow that, then you have a risk for at the end of the day, the customer just telling you Hey, you know what? Sorry, I appreciate your help, but we're gonna go with the other vendor. That should always be the downside of doing a bad vibe proposition. Just think that in your mind, I've got to do it right. Second thing that I say to do is is make sure that you take your time because good value propositions take time and for you. You should think I've got to do this the right way so the customer will remember. So if you're taking your time and your gauging, you're watching them as you're going through it, you can see if they're paying attention, because maybe they're looking around or doing it at whatever, and they're not absorbing what it is that you're saying. So take your time. The next is some. Something I see is it happens all the time, um, with with good value, propositions versus bad by value propositions and that's make sure you use one feature at a time, just one. And that's gonna be tough for you because custom will say something that's important to them and you'll. You'll immediately want to say all these features that will help them. Just do one. Just do one at a time. Next, make sure that you always close that fourth step that I gave you before about closing, checking to make sure that it's relevant to the customer checking to make sure that your closing for the next step, whatever that is you got to do that. Every single timing, deliver value proposition. That way you could be sure that what she did made sense. A lot of times when you deliver a value proposition and you check for a test for understanding like, Hey, how do you think that could impact your business and the customers like, I don't know what you're talking about or I have no idea. Then it it's a clue. Do you to go back and deliver the dye proposition again? So you've got to make sure you always do that. And the last thing I'd say for the dues is make it relevant to their criteria. You've got to do that because the more you could make a relevant and connect those dots that stronger and more powerful, this die proposition will be in showing why customers should go with you versus somebody else. Okay, now the doughnuts value propositions. First thing, most common feature dump is what I'll call it feature dump. So what is that? Well, that's when someone says this is important, my business and and the customer and you start saying, Oh, I got this feature that help you in this feature and this feature, and they're gonna help you do all these great things. So would you like to come in and see it? Listen a feature dump. It's not good, because you'll what comes out of it is the customer will feel like a product is great, but they won't remember anything. This is how goes so going back to that in the original scenario of the customer, saying, Um, I really a boss. I think we should get derricks product or service because I really like it. They won't be able to clearly tell the boss why they like it. And that happens a lot times because there's a feature dump. We A sales people said These are all the reasons why you should do it at once. And all that transferred from you to the customer was just emotion like, Oh, yeah, it's a good idea, as opposed to why it was a good idea. Ah, the second. Don't that I'd say out there, Make sure remember is don't forget that explanation to step Step two. That's critical. You've got to explain. It's a someone like their child. You have to do that. You've got to do that. I'll give you some examples here in a second. But don't forget, because that connects the value proposition. In a way, where the customer will remember the next one is Don't be too quick to give the benefit. I see that will happen all the time, too, as well. A one of our great features of our products is this and this is how it out works. And oh, man, the benefit is this this and that If you if you give the benefit too fast, then what happens is your explanation part. Even though you might have said it, it's just people aren't gonna remember it because the benefits just squashed your explanation. And now they're thinking about is the benefits versus what it actually does and how how they how that could work for their business. Um And then the last thing I said here is is Ah, it goes with the 1st 1 on feature down. But be careful that you don't combine different features into the value proposition. You might have some features that are similar. And when those features air similar, sometimes you try to keep put him together in the value proposition. No, take time and I'll show you to do this, you know, shortly. But take time to make sure you have a clear value proposition for each feature. That is a reason why some someone should buy your product or just somebody else's. Next, somebody go through some examples and talk about how it relates back to the formula. 9. Value Proposition Example #1: Okay. Now let's take some time to go through some examples of value propositions. This way you can see how you put a value by a proposition together in the formula and that way. What as you're putting yours together, you'll understand how it all flows. Here's the first example, and in this situation, I cell phones and I sell iPhones that say specifically iPhones And I have a five customer that's telling me, You know what? I'm always running out of space on my phone when they say that to you. There's a lot of things that should come to your mind. Let's say you wrote down the feature of having a large hard drive storage capacity for your phone. So here's your phone. You got a huge hard drive storage capacity. So this is how would use part one. Hey, one of my favorite features of this phone is the hard drive storage capacity. That's 120 gigabytes, 120 gigabytes case now part two. Now we got to describe like we're explaining to a child, so the hard drive storage capacity is 120 gigabytes. That's the size of files it can hold on a hard drive, 100,000 kilobytes is equal to one megabyte. 1000 megabytes is equal to one gigabyte. Basically, one song in comparison on your phone could be one megabyte and one video could be 200 megabytes. Photo could be five megabytes. So when we're talking about 120 gigabytes, that's a lot of space. Now we relate it back as a benefit. So here's an example. So the benefit to you is you don't need a worry about running out of space when recording videos or storing movies and photo albums on your phone. No need to back up your phone to get free space. You know, if the doing that kind of stuff, you say you're always running out of space. Those days will be a day in the past. So now we come back to the fourth step, and that fourth step is closed for the next step. Gaining agreement, testing for understanding. So here's what I would say here. So how could having that amount of space help you? So let's put it all together. That's how that's what the four components. So here's how it goes together. Hey, one of my favorite features of this iPhone is the hard drive storage capacity of 120 gigabytes. I love that piece. So what that means is the hard drive storage capacity on this phone specifically is 120 gigabytes. That's the size of the files that it could hold on the hard drive. For example, 1000 kilobytes is one megabyte if you knew that. But 1000 megabytes is one gigabyte. So in relation to what you have on your phone, one song on your phone could be one megabyte of video on your phone. Could be 200 megabytes. A photo could be five megabytes. Well, that all adds up. But the benefit of having this this hard drive capacity of 120 gigabytes is now. You don't need to worry about running out of space when recording videos when storing movies or photos on your iPhone. No need to back up your phone all the time. You get free space. Those days will be a day of the past. So how could having an iPhone of that amount of hard drive space help you? That's an example of putting it all together. If you think back to the four steps. The 1st 1 is identifying the feature that works with the customers criteria. In this situation, the customers criteria is they're having trouble with having running out of space on the rifle. Ultimately, we want to know what that what that means to them. And probably in this situation it means that when they run out of space, they're spending all this time trying to back it back up their space so they have more space. Maybe they're missing out on key moments in the life of taking photos or or recording videos of their Children. And because they're running out of space. That's a problem. So the criteria of wanting to have that experience in that sort of life is being affected, and the way they're they're telling you about it is they're always running out of space. So we hear that from the customer we identify. You know what a great feature that this phone could have that you could pay for is a larger , hard drive. We describe it about why that makes sense to them, like their five year old like their child, which I did by explaining size what a hard drive does for a customer and what the different size things that they would be putting on that hard drive would be their songs, their their photos, their videos, whatever that might be and how having a larger hard drive it could take a lot longer for them to get that same place that they are today. That's where we get to the benefit, and the benefit is, is how having this large hard drive will free up all this time for them. They've got peace of mind, all those sort of things and then the last part of how could having that amount of space help them out? That's checking to see if they understood because if they understood clearly, then they know that Ah, larger, hard drive will save their day, basically will help them out. It's everything they wanted. If you look back to the do's and Dont's, what could have happened here is we could have talked about more features in just hard drive capacity. There could be been a couple things that added in there together I could have also talked about I could have skipped the hard drive storage capacity and not talked about how it works and how it spells out to 120 gigabytes or how it shows the amount of space that someone could have. Um, and if I skip that and just went right into the benefit part, then customer might not have seen it. I mean, look at this talk track just by the feature and the benefit. Hey, one of my favorite features on this phone is the hard drive storage capacity of 120 gigabytes. Hey, the benefit is you don't need to worry about running out of space on recording videos of storing movies. No need to back up your phone for for free space. That doesn't really work because they might not necessarily understand about how space works on their phone. So having that explanation section really ties it together. So that's one example. I'm gonna give you another one next 10. Value Proposition Example #2: okay, is example number two for value proposition. So again, I want you to look at the components of this and think about how you could relate this to your features that you've already listed out. Let's just say that I sell night lights for Children, Okay, because I'm trying to give you all these different examples because you don't know what you sell. But I know that these feature that thereby propositions work in every industry and every product. Let's say I sell specific nightlight for Children. As I'm talking to my customer, I find out that their their parents and their obviously having challenges because their kids are waking them up every single morning and every single night. And they're just not getting good sleep, not getting good amount of sleep. So let's go into how we can deliver a value proposition for our nightlight. So here's part one. We want to use the appropriate feature. So hey, one of my favorite features of this nightlight is the on the on our red light green light nightlight. You'll see a picture right here is that you can configure the light that comes on by a timer so that means that you have the ability to set the timer of in the product to turn green, meaning it's okay to come into our room. But until that time, it stays red, meaning stay in your room. So, for example, your child that say they constantly come in every single morning at random times and it's breaking up your sleep. Now they look at it, and they understand that the basic concept of red light means stop and green night means go . So when they look up when they're looking at their clock every single morning, they see it and it's at the red light. So that means I go, I have to stay in bed and they wait. And they understand that as soon as it turns green, that means you're okay with them coming in. So that's my explanation for that. So the benefit is you can be sure that you will have a full night's sleep every night, leaving you feel refreshed while teaching your Children to pay attention to their surroundings and respecting your privacy. So what would you do with an extra couple hours of sleep a night? So if you think about what I just did is I went through the feature. I explained it like their child. I related it as a benefit, and I closed for next step. I'm gonna show you another example of saying it, but without the description, one of my favorite features about this red light green light nightlight is that you can configure it by timer. So the benefit to you is you can be sure that you will have a full night's sleep every night, leaving you feeling refreshed while teaching your Children pay attention, their surroundings and respecting your privacy. Okay, that's positive. Does that make any sense? It doesn't right, because the customer is not gonna have any idea what this timer does and how it connects to a benefit. But people do that all the time. They deliver the feature and go straight to the benefit. You've got to connect the dots by explaining all those things that I talked about, How you can set the timer and it turns green when it's time to come in and it stays red. The rest tonight. So that's example Number two. I'm gonna go through one more example Next 11. Value Proposition Example #3: okay, we're back with modern sales. And here's example, Number three of value propositions. So something to mention before I get into this as sales people, we feel so confident or product. Typically what we know about it, we and we take for granted how little our customers know about it and when that happens, is is We think that when we're explaining something our way, that the customer is gonna connect and they're going to say, Oh, I understand what that is and that's not the case. You've got to remember that in order for customer to really get the most out of your product and understand it, it's got to be done in a value proposition format. So here's the third example of delivering that and another way that you can connect your value proposition, your features that you've already put together on the list with a good value proposition. I'm trying to sell this pen now, so I go and I see customers. And when I go to customers and asking them questions about how they use their pens and their experience with their pens, and let's say that one of their experiences that their pens are always running out of ink. Ask more questions about the run out of ink and identify that the reason why they're running out of ink is because their caps on their pens keep falling off. And when they keep falling off their pens right on different things, whatever might be there close sometimes the inside of their briefcase. And even if they're not writing on something, the pen, by not having the cap on it, just dries out. Eventually, let's think about that. Let's turn this into a value proposition. So Part 11 of the my favorite features about this pen is the twisting mechanism that opens and closes the pen. So let me show you how it works. You twist the pen toe one side, and you notice how the pen tip retreats back into the body of the pen. And then when it twisted back, the pen comes back up. There's no cap for it. It's just a twisting mechanism. That's all. It happens just like that. The benefit to you is you. Don't you worry anymore about losing that cap, which is why you run out of ink. You also don't need to worry about the pen ink coming out and ruining your shirt pocket or whatever it's in. I love for you to test out some of these pens for yourself. How does that sound When you look at the formula for the value proposition one of the features about your product explain it to them like they're a child going through the benefit and then closing for the next step. That form they worked in that situation to as well. If I skipped the explanation and I just said one, My favorite features of this pen is the twisting mechanism, and the benefit is you don't need to worry about losing the cap. The customer might have been lost about what this twisting mechanism is and how it could actually help their business. That explanation piece when I showed opening and closing using that twisting mechanism that was the glue that made my value proposition so powerful for the customer. Also, when you think about my last two value propositions that I gave, those were all about testing for understanding. So Step four was really hey, So how could having this feature benefit your business? How could it benefit you in this situation? I gave a closing for the next step for Step four, and that was my love for you to test out this. These pens for yourself. How does that sound? And in this situation, I took this to close for where I know I need to go in order to get pen sales, and that's them trying out my product. So is different. Use the value proposition. Now we're gonna make a more complex via proposition in the form of a talk track over the phone to set an appointment with a customer. 12. Structure of a Cold Calling Talk Track: Okay, We're back in modern sales, and now we're gonna talk about constructing a phone talk track. So I know you've got this great value proposition, and you want to think, How am I gonna apply this over the phone and setting appointments? So I'm gonna go through how to make your own talk track. First of all, you need three parts to a great phone talk track. The 1st 1 is you have after a strong opening, 2nd 1 you have a benefit to meet for the customer. Basically, why you're calling the 3rd 1 is you need to close. Let me break each one of these down into its individual step. First part is the opening in the opening, you're going over who you are. That seems pretty obvious. You've gotta identify yourself so the customer knows who they're talking to on the other side. The phone. Be careful when you talk about that, because sometimes you might have a common name. Like what's your name is John. When you say it's John and the customer is going to start thinking Wait, is this the John that I know or is this a different John that I what This is a colleague who is this? That's why the next part is where you work. When you talk about where you work, that's what that's where you're explaining. You're John from this company. It'll be really easy for them to identify if they know the john from the company or not. So that's where you work. The third part is qualified through the right person. That's where you would say something like, Are you the person that handles the purchasing decisions for office technology? That's where you'd ask that part. That's the opening. So who you are, where you work and qualifying if they're the right person, What if they say that they're not that person? Well, then you know that you need to find the right person and you're wasting your time in your talk track with the person that doesn't even make that decision right. That's why we got to make sure we qualify inside of that opening section. If they're the right person, that's the first part. The second part is the benefit to meet why you're calling. The first part there is. Make sure you're sharing a reference reference. Selling is very important when you're saying that work with some of that They know that's powerful. Think about how many purchases you made because the person that is selling its you said that they sold it to one of your friends Or, you know, he wanted her friends bought something and because they bought it, they've already sold it to you on, You know, if it works for them, it's gonna work for you. Reference Selling. It's so important. So make sure you have a reference identified. And if you don't have a specific reference for that company or that industry, try to find your large enough references that they can relate to go. I remember that company or yeah, I'm from or to that company. So don't overthink the references. And even if you don't have specific reference, which is always going to the best situation, then try say something like, Oh, we work with companies like this. So where companies in this industry, so you can use that as a reference. If you don't have a specific name to use, then you want to make sure you're using your value proposition here. So when the benefit to meet, we just talked all this all of this about putting together a value proposition for each feature. Well, this is when you're going to be applying a certain feature that, you know, the customer is gonna be benefiting from in this section. I like to add in. I'm not sure if this will be a good fit for you, because people today, like making decisions themselves, didn't like to be told to make a decision. So when you're saying I'm not sure if this will be a good fit for you, then you're basically saying, you know, it's up to them. It's up to the customer if it's a good fit. So Well, I got in that. And then I love to show us with you in a meeting or a conference call or a webinar or whatever it is that you are looking for when you're setting an appointment. The last part of this is closing. When you close, I'll give you a couple examples of how the best ways to close over the phone and this a lot of this comes from experience over the years. It also comes from this common sense. Think about the psychology of how we work. If you're finishing up your your talk track over the phone and you're saying, Hey, so do you want to meet? And you put that entire power over to the customer? Then what's gonna happen? Let's say they say Sure, Well, then you still have to say OK about this data this time, right? You still have to put that in there. But if you just ask them, Do you want to meet? It's not very strong. You could also give them one option CRE available on Tuesday. But when you say that it's leaving them open going okay, What I have going on Tuesday, man, I probably I probably want to do anything but meet with this person on Tuesday, so they're probably going to say I'm busy. The other option is to give to two choices, and this is the best option for you, innit? Setting appointments, that's like saying are available on Tuesday at 10 o'clock or Wednesday at one oclock, which time works best for you. I'm gonna relate this in a different way, probably one that you deal with on every single day. But let's talk about food and dinner. If someone says to you what you want for dinner? Probably thinking. Shoot. I don't know. I haven't thought about it. I'm not really sure. So that is really get you anywhere, right? By asking that one question. What do you want? What if I give you one option? Do you want hamburgers for dinner? Now you're thinking, Do I feel like hamburgers? Is hamburger sound like a good option? When's the last time I had a hamburgers? I don't know if I want hamburgers. No, I don't want that. So if someone if someone's into it and wants hamburgers and they're going to say yes, but pretty much, they're gonna think hamburgers or what else would they want? And they're gonna hold it over. And it's probably not gonna be what you want. The last option that I gave his two choices. So what if I said hey, do you want hamburgers or sushi tonight? Now your mind just went to a quick answer, right? Just thought Oh, I want sushi or I want hamburgers. Whatever it is, your mind just chooses one. The same thing. Works will be close, and we're closing for unemployment. We have to use two options in the next video. I'm going to show you an example of putting all of these components together to set an appointment using your value propositions. 13. Example Cold Calling Talk Track: Okay, We're back in modern sales. And now I'm gonna give you an example of an appointment setting talk track based upon the components that we just covered in the last video. So thank you for taking my call. My name is Derrick and I worked for Mont Blanc pens. Are you the person that handles the purchasing for office materials? Great. Well, the reason for my call is our work with companies like ABC down the street from you. And I hope them with providing high quality pens that don't run out of ink when you need them the most. I'm not sure if we'd be a good fit, but I love to share a sample with you. Bring one of my pens to see if it could help you out as well. Are you available to meet on Monday at 10 o'clock or Tuesday at one oclock, Which time works best for you? Okay, so when you look at that, that's talk. That talk track, which I also provided in the resource section below with blanks so you can look at and compose your own. It's very simple. It follows what we mentioned before it. Thanks for taking the call. It introduces yourself in the company that you're with, and it qualifies him to make sure that they're the person that handles basically what you're looking for in this situation. You're looking for the purchases that whoever purchases the office materials for the company and then I go into the reason for my call, and I work with companies like, right, That's where User Marquis or your references your name drop and this situation. I just said that we work with this company down the street from you, so that way they go. You know what? I drive into the office every single day. I remember passing them, so yeah, okay. And then how we help them in this situation, we use the value proposition, but specifically the benefits part of the value proposition and then I'm not sure would be a good fit. I'd love to share a sample with you, right? And then are you available to meet giving two times, of course, falling up with which works best for you that talk track of something that you can use today for any industry. And maybe it's different industries for you when you're selling, you know, that a certain value proposition will work better, so just inserted into that section and you're ready to go. So next we're gonna talk about elevator pitches. So when you have one chance in front of customer, whether you're out on the street or wherever it is and there in person and you want to make sure that you sell them on your product or service, what do you say? We're gonna cover that next? 14. Structure of an Elevator Pitch: Okay, we're back. And now we're gonna talk about your elevator pitch, putting it together, and then ultimately, I'll give you an example on elevator pitch is when you meet with a client face to face. And you have one minute to deliver your value proposition to get them excited about meeting with you and senior product. So you have one chance to get it done. I'm gonna show you how to do it. There's three parts to putting together an elevator pitch. The first part is a brief overview of your company and general benefit of what you do. Second part is an example value proposition that you've done with another client or that you do in general in the industry. And this should be pretty easy for you since we've been covering it. This entire course on the last part is closing for the next step. So let's break these down. The first part is the company pitch your general benefit. This could be I work for X Y Z company. I work for Mont Blanc pens we specialize in. This is where you list the benefits your products give clients. We specialize in making sure clients have peace of mind, knowing that their products are always gonna be top notch, whatever might be for your business. And the last part is there's many products or services that we provide, and I'm not sure how we could help. That's the opening pitch. That's your company overview. Because sometimes when you give this the customer my big Oh, great, yeah, we could totally deal. We totally could use that. That's something I could really benefit our company. Absolutely. Let's meet. They might tell you right away. If they don't tell you right away. That's when you go to the next part, which is where you provide a value proposition. This should be easy for you to do. Now there's a couple of components of the value proposition you want to make sure you do. The first part is choosing to feature that another company liked that you worked with or be general. If you haven't worked with anybody like them yet, so this is It could be something like a lot of companies that we work with love. The fact that we do this and that this obviously being the feature of your product or service, then you go into the explanation of it. Just like you're explaining it to them like they're ah, child, right? Just like we talked about a value proposition and then the benefit and in the situation we're still referring to this benefit is how it benefitted that company or how typically benefits companies that we work with like them, right? Not necessarily there the company are talking to right now. But how it benefitted that organization in your example. The last part is closing when you're doing this. I like to say this is just one example of how we've helped companies. I'm not sure if it would apply to you. That's why we should meet. That's when you go back to the two examples that I talked about over the phone. Still the same thing So we could meet later on today for available. Or we could meet next week. Which day works best for you. You always close like that? So the first part is the company overview brief benefit of what what your company does. The second part is going through an example value proposition, like when you did for someone like them in the last part is closing. And now let me show you in the next video how you put this all together into an elevator pitch 15. Example Elevator Pitch: we're back with modern sales. And now I'm gonna go through an example elevator pitch to set the stage. You just found your customer that you've been trying to meet with for a long time. And there, outside, and you walk up there, you you get the courage and you go up to them and you say, You know what? You have one minute to get them interested in your product. This is what you'd say. I work for Mont Blanc, and we specialize in high quality writing instruments that differentiate you from other companies there many products and services we offer in here, and I'm not sure which would be a good fit for organization with ABC Company. Down the street from you, they really appreciated are twisting mechanism honor pens. Let me show you how it works. He twists, depend toe one side, and you notice how the pen retreats back inside the body of the pen are the pen tip retreats back inside the body of the pen. When it twists back up, the pen tip comes out. So the benefit is they for them. They didn't need to worry about losing the cap of their pens haven't run out of ink. They also need to worry about their pens coming out into their shirt pockets that they wore and causing the look unprofessional. So I know it's just one example of something that we do is something we provide. Um, but I thought it set up a time for us to learn more about your organization. How does tomorrow afternoon at one o'clock work, or maybe even on Wednesday at two o'clock, which time expressed for you that is an elevator pitch for your customer. That's one that I recommend. You practice over and over again for yourself, whatever it is for your elevator elevator pitch, because you never know when you have to give it. That's the thing about all of the elevator pitches versus calling someone over the phone. When you called him over the phone, you got your talk track right right there in front of you and you're looking at it and you're as you're making your dials. You know what to say. As soon as your customer picks up the phone with an elevator pitch, you never know when you're gonna have the opportunity, so you have to have it ready to go. So this is one of those things that once you drafted and put it together, you practice it and over and over again. So it becomes natural when he deliver it. When he prospect in the resource is on this video right here, you'll see that I have a general value proposition elevator pitch that you could use for your own business. What I recommend you do is download it and create your own talk track based upon using this . So now, after we've gone through how to put together a value proposition, how to create a talk track of the phone, set appointments and to deliver an elevator pitch, let's wrap everything up in the next video. 16. Value Proposition Course Summary: okay, we're back in modern sales. Let's take a second to reflect on everything that we've learned today. Value propositions. They're critical for yourself. There is so important that you do it right by understanding the features and capabilities of your products or services to understand the criteria that the customer has, knowing how you can connect the dots in this value proposition and understanding the structure of putting it together in a way where the customer remembers it. In the end, if you follow these all these steps that I've gone through, you'll find that there is a direct impact that you're gonna have in your sales. So now it's your turn. I love for you to create to value propositions one in the form of just any feature that you can think of that you've identified as being a reason why someone would buy your product versus somebody else's turn that feature into a value proposition. So follow the structures we've gone through. That's the first thing I'd like to see. The second thing is, put together an appointment setting talk track with your value proposition. So follow the structure that I put together for that and the last thing. This is bonuses. Extra is put together your elevator pitch with your value proposition and you put those three things together, I'll give you feedback on it and how you can apply it to make an impact in your sales today . I want to thank you for your time and applaud you on your commitment to becoming better in your sales career. I know value propositions is gonna make a big difference for you in all aspects of your sale. So I hope to see you on my next videos. 17. Podcast Details and How To Get More Coaching: Hey, Derek here. Thank you so much for taking the scores. I know it's gonna help you get to that next level in your sales career. I have a couple more things that could help you as well. First thing is, I have a podcast called in between sales calls. You could find it on all the major platforms Apple Spotify, Google, you name it. Or even if you don't have a podcast player, you can come to my website and play each episode on there. The second thing that I have for you is if you really want to take what you learn in this episode to the next level, dive in, drill into it. Further, get one on one coaching from me and tailor it to your business. I recommend you join my private membership group called Rising Star. You can find it on my Web site at www dot modern sales training dot com slash join, and he could learn so much more about what I do for my clients inside that private membership on that page. Thanks so much hope to see in the next course have a great day