In a discussion about overcoming the common sales objection "I don't have the money," the speakers, including a seasoned sales professional Nick Sineki, delve into the importance of establishing a need before presenting a solution. They explore the concept of "voting with our dollars," illustrating how spending aligns with priorities and identity. By sharing a narrative about a young girl's transition into womanhood through purchasing makeup, they suggest that customers should see spending as an investment in a desired identity shift, such as adopting a healthier lifestyle. This approach reframes the objection from a budget issue to a matter of priorities, aiding salespeople in effectively addressing cost concerns and facilitating successful closes.
"What is one of the hardest obstacles to overcome in all of selling price? I don't have the money."
This quote highlights the common sales obstacle of potential customers indicating they cannot afford the product or service being sold.
"We didn't really establish enough of a need before offering a price or offering a solution."
This quote emphasizes the importance of creating a sense of need or pain point before attempting to sell a solution.
"He's like, hey, man, what's your best overcome for this? Right? He's like, I'm talking to our team. And we were role playing back and forth."
This quote describes the process of discussing and practicing responses to common sales objections within a team setting.
"I call this, we vote with our dollars, okay? It's the easiest way you can at least remember it."
This quote introduces the concept of "we vote with our dollars" as a technique to address price objections in sales conversations.
"We tend to vote with our dollars about the things that we care about, right? Because, I mean, we can say that we care about x, y, and z, but what really matters is where we spend our money, because we really care about everything else is just things that we would like to care about, but we don't actually care about them."
This quote emphasizes that financial investments are a more accurate reflection of our priorities than mere verbal expressions of interest. Money spent is indicative of true value placed on something.
"And so if we want to change the things that we care about, we have to change the way we vote with our dollars."
The quote suggests that to reprioritize our interests, we must reallocate our financial resources accordingly. This is a call to action for intentional spending aligned with one's values.
"And she's like, okay, now, I want you guys to understand that every month, you need to start budgeting for this, because this is something that you're going to be spending money on regularly now, okay?"
This quote highlights the practical advice given to a young girl, which serves as a metaphor for anyone taking up a new interest. It underscores the importance of planning and budgeting for ongoing expenses associated with new pursuits.
"And so I told her a story that made a lot of sense to me, and it was something that really helped me when I started my fitness journey."
This quote introduces a personal story meant to provide insight and guidance based on the speaker's own experience with financial commitment in fitness.
"Kind of, I guess, make sense of the time investment, the money investment, all that kind of stuff and the return on it."
The quote explains the purpose of the story, which is to rationalize the investments of time and money in fitness by considering the expected returns, such as improved health and well-being.
"And the girl was super excited about it, and she was like, yes, I'll totally budget. And she was all in."
The enthusiasm of the girl for budgeting her makeup expenses conveys her readiness to adopt this new financial commitment as a part of her routine, reflecting a shift in her interests and priorities.
"her going from a girl to accepting the new identity of a woman. Right. And so with that new identity came new priorities."
This quote highlights the natural progression of change in identity and the accompanying shift in priorities that come with it. It suggests a deeper transformation that affects various aspects of life, including financial decisions.
"You want to have that fit identity. And so part of that identity comes with the priorities of where we spend our money, right?"
Nick Sineki is emphasizing the importance of aligning financial spending with the goal of achieving a "fit identity." This quote underlines the connection between personal identity and how it can influence financial decisions.
"What can we do? Because that new identity is also going to come with other savings."
This quote suggests that adopting a new identity, such as a fit identity, can have positive financial implications beyond the initial costs, leading to savings in other aspects of one's lifestyle.
"But that bridge is what shows that we vote with our dollars about the things that we care about."
Nick Sineki is explaining that the epiphany bridge helps individuals understand that their spending is a reflection of their values and priorities. This quote encapsulates the idea that financial decisions are a way of expressing what is important to us.
"Hey, guys, love that you're listening to the podcast. If you ever want to have the video version of this, which usually has more effects, more visuals, more graphs, drawn out stuff, sometimes it can help hit the brain centers in different ways."
The host is acknowledging the audience's current engagement with the podcast while also offering an alternative medium that may enhance their understanding and enjoyment through visual elements. This quote speaks to the importance of multimedia use in content delivery.
"need to do for you is bring these new priorities along with you so that we can solidify that identity shift so that we can get what you're looking for."
This quote emphasizes the importance of incorporating new priorities into one's life to solidify the identity shift that is necessary for achieving personal goals.
"And that person spends money on health, spends money on coaching, right. So that you can be the best version of you."
Here, the speaker highlights that part of the identity shift is the willingness to invest financially in health and coaching to improve oneself.
"But it's the recurring, that's the one especially you're selling eft, selling memberships because what you're doing is you're selling a permanent fix."
This quote explains that recurring costs are associated with selling memberships or services that provide a permanent solution to the customer's needs.
"And so with a permanent fix comes a permanent cost."
The speaker is making a direct correlation between the ongoing nature of a solution and its associated ongoing cost.
"We've already had a bunch of guys who are in our launch and legacy program using it to some phenomenal success just remember, we vote with our dollars, with the things that we care about."
This quote reinforces the idea that spending behavior is a reflection of personal priorities and values.
"And so, honestly, I had this same conversation yesterday with a woman who decided to sign up because what we realized, what we realized. Not her."
The speaker recounts a specific example where a potential customer's decision to sign up was influenced by recognizing that the issue was not financial but rather about prioritizing.
"And so here's a story to illustrate that. Right. And so you kind of walk through it in that way, and it's an easier way of getting to the main point."
This quote suggests that storytelling is a strategic tool to help customers understand and relate to the value proposition being offered.