I Forgot My Wallet Overcome Ep 179

Summary Notes


In the Gym Secrets podcast, the host and guest speakers discuss strategies for in-person sales, particularly overcoming objections when customers claim to have forgotten their wallets during a sale closure. They suggest asking for an ID to indirectly prompt the customer to present their wallet, building rapport, and using phrases like "it's how we've always done it" to establish a sense of normalcy and precedence. Additionally, they stress the importance of word-of-mouth promotion for the podcast, as they rely solely on listener recommendations rather than ads or sponsorships.

Summary Notes

Personal Anecdotes in Sales

  • Speaker A shares a personal experience related to sales interactions.
  • Speaker B relates with a common sales objection about customers not having their wallets.
  • These anecdotes illustrate the real-world challenges faced in sales.

And I've had this happen before. It's like, I don't have my wallet with me, and I can't tell you the amount of times that people are like, all right, I'll go and get it.

The quote demonstrates the frequency with which salespeople encounter the objection of customers not having their wallets, suggesting a shared experience among those in sales.

Introduction to Gym Secrets Podcast

  • Speaker C introduces the Gym Secrets podcast, emphasizing its focus on customer acquisition, maximization of customer value, and retention.
  • The podcast also covers failures and lessons learned in the business journey.
  • This sets the stage for the kind of content listeners can expect from the podcast.

Welcome to the Gym Secrets podcast, where we talk about how to get more customers, how to make more per customer, and how to keep them longer, and the many failures and lessons that we have learned along the way. I hope you enjoy and subscribe.

The quote outlines the core themes of the Gym Secrets podcast, providing a roadmap for the topics to be discussed, including strategies for business growth and anecdotes from personal experience.

Sales Techniques for Overcoming Objections

  • Speaker B offers tactical advice for handling a common sales objection: customers claiming they left their wallet or card at home.
  • The speaker challenges the validity of this objection, asserting that it is unlikely for people to leave their cards at home.
  • A strategy is provided for transitioning to the close of a sale, which includes asking for an ID to indirectly prompt for payment.

Good morning, everyone. Hope you guys are having a great start to your week. I wanted to give you something super tactical today. This will probably be only a couple of minutes, but I just got off the phone, training sales team for in person sales, and they were closing trials, and so they were like, what if someone says that they didn't bring their wallet or they left their card at home? How do I overcome that?

The quote introduces the topic of the day's podcast, which is a practical sales tip for overcoming a specific objection. It sets the expectation for a brief yet useful lesson derived from a recent training session with a sales team.

And so the big one is virtually no human actually leaves their card at home. So that's the first thing is you have to say, no one actually leaves their home without their credit card. They don't. And not like 10% or 20%. Like, how many times have you left your house without your wallet? Twice a year. You know what I mean? It doesn't make sense, right? So you have to have that conviction first. That. That's not true at all, right?

This quote emphasizes the speaker's belief that the objection of leaving a wallet or card at home is not genuine. The speaker stresses the importance of having conviction in this belief in order to effectively overcome the objection.

And so there's some easy things that you can do to overcome that. The first one is whenever you are transitioning to the close where you're like, hey, so you want to do it? They're like, awesome. That's where you can just say, great. So just need your id. You gesture your hand, you're like, I need your id. And so at that point, you're not asking for their credit card, but you're assuming that they have it with them.

The quote provides a specific technique for moving past the wallet objection by asking for an ID as a way to indirectly request the payment method. This tactic assumes the customer has their payment method and helps facilitate the close of the sale.

Transaction Process and Customer Interaction

  • The process begins with asking the customer for a credit card.
  • Customers typically place their wallet or purse on the bench to retrieve their wallet and then their credit card.
  • Asking for an ID serves two purposes: verifying information and creating an opportunity for small talk.
  • Small talk can lead to personal connections, such as discovering shared hometowns or experiences.
  • After ID verification, the customer is prompted to provide the card they wish to use.
  • The act of handing back the card while gesturing towards the wallet is a subtle trade-off.
  • The conversation should continue smoothly throughout the transaction to maintain a low-key atmosphere.
  • If a customer questions the need for a card during a trial, the response should be that it is standard procedure.
  • Consistency and a nonchalant attitude are key when addressing customer concerns about policies.

"And so most people will take out their wallet, or they'll take their purse out, and they'll put it on the bench, and then they'll usually take their wallet out of the purse. If it's a girl, if it's a guy, I'll take his wallet out."

This quote describes the typical customer behavior of taking out their wallet or purse to access their credit card, setting the stage for the transaction.

"One, you should ask for their id so that you can make sure that the info is correct. Right? And you can also have some. You know, you're from Pomona. No way. Me too. I used to live around there. Blah, blah, blah, blah."

Asking for an ID not only allows for verification of the customer's information but also opens the door for personal conversation, which can create a connection between the salesperson and the customer.

"And so as you're making small talk, and then after that, it's like, awesome. Just need to know whatever card you want to use. And so you take the card and you hand it back to them, and you can gesture towards their wallet."

This quote illustrates the transition from small talk to continuing the transaction by asking for the payment card and subtly indicating where the customer should put it, fostering a relaxed transaction environment.

"You just say it's how we've always done it. And you just ask super low key about it. You're like, yeah, this is always how we've done it. Great. And you just keep going, do you have the card"

When faced with a customer's concern about policy, such as providing a card for a trial, the recommended response is to reaffirm that it is a standard practice and to remain calm and nonchalant to reassure the customer.

Overcoming Objections in Sales

  • Discusses strategies for handling customer objections during a sales process.
  • Emphasizes the importance of asking for identification to ensure the customer has their wallet.
  • Suggests offering alternatives if the customer doesn't have their preferred payment card.
  • Provides a specific tactic to avoid the "I forgot my wallet" objection.

"You want to use or which card you want to use? It doesn't matter, right? And just like that, you can gesture back to them. So ask them for that id first. That's what gets them to take their wallet out."

This quote outlines a technique to confirm that the customer has their wallet by asking for identification, thus preempting the common objection of forgetting the wallet.

"Now, if they say, I don't have the card that I want to use, it's like, no worries. Why don't you just put a different card down, and then between now and the next time you come in on Monday or whatever, you can swap out the card."

This quote suggests a solution for when a customer does not have their preferred payment card, by allowing them to use an alternative card and switch it later.

Promoting the Podcast

  • Encourages listeners to spread the word about the podcast through personal recommendations.
  • Highlights that the podcast's growth relies on word of mouth since there are no ads or sponsorships.
  • Invites listeners to share the podcast in the same way it was shared with them, to generate good karma for entrepreneurs.

"Real quick, guys, if you can think about how you found this podcast, somebody probably tweeted it, told you about it, shared it on Instagram or something like that. The only way this grows is through word of mouth."

This quote emphasizes the importance of word-of-mouth promotion for the podcast's growth and encourages listeners to think about how they discovered the podcast.

"And so I don't run ads, I don't do sponsorships. I don't sell anything. My only ask is that you continue to pay it forward to whoever showed you or however you found out about this podcast, that you do the exact same thing."

This quote explains that the podcast operates without ads or sponsorships and relies solely on listeners sharing it with others.

"It was a post, if you do that, it'll mean the world to me and you'll throw some good karma out there for another entrepreneur."

This quote encourages listeners to share the podcast, suggesting that it contributes to good karma and supports the entrepreneurial community.

Handling the "I Forgot My Wallet" Scenario

  • Discusses a specific objection in sales situations where a customer claims to have forgotten their wallet.
  • Suggests using the earlier tactic of asking for identification to avoid this situation.

"It's like, I don't have my wallet with me right now. That's if I ask for the id. All right? Now, if that happ"

This incomplete quote implies a scenario where a customer might say they don't have their wallet, which can be mitigated by the previously mentioned ID strategy.

Overcoming Sales Objections: "I Forgot My Wallet"

  • Discusses strategies for handling the common sales objection of a customer forgetting their wallet.
  • Emphasizes the importance of building rapport to handle the situation effectively.
  • Suggests turning the objection into a light-hearted moment or a joke to ease tension.
  • Recommends asking for ID first to ensure the wallet is present before proceeding.
  • Advocates using social proof and the illusion of precedence to overcome objections.

"I can't tell you the amount of time someone's like, oh, I left it in the car. And I'll be like, girl, then go get it. I was like, your workout starts now."

This quote illustrates a humorous approach to encourage a customer to retrieve their wallet, framing it as the start of their workout, thus potentially diffusing the awkwardness of the situation.

"Let's go do it together. I've been sitting all day anyways, let's go get it right."

Here, the speaker suggests accompanying the customer to retrieve their wallet as a way to build rapport and show solidarity, especially if there's already a good relationship established.

"I left my wallet in my car on purpose so I wouldn't sign up for something or whatever bullshit, right?"

The speaker acknowledges that sometimes customers may use the forgotten wallet as an excuse to avoid making a commitment or purchase.

"Ask for the id first. Get them to take their wallet out, then swapulate their id for the wallet."

This strategy involves getting the customer to naturally reveal their wallet by asking for their ID, making it harder for them to claim they forgot it later.

"Always shrug and say, just how we've always done it. And you'd be amazed when people are like, oh, that's how they've always done it."

The speaker suggests using a nonchalant attitude and the phrase "just how we've always done it" to imply that the process is standard and accepted by others, leveraging social proof to overcome objections.

Sales Techniques: Building Rapport and Social Proof

  • Highlights the significance of having a good rapport with customers to facilitate sales.
  • Introduces the concept of "swapulation" as a tactic to keep the wallet in hand.
  • Suggests the use of non-confrontational language to present company policies or practices.
  • Recommends creating a perception of normalcy and precedent to make customers more comfortable with the process.

"But you got to feel it. If you have good rapport, this is where you can be like, man, I'll."

This quote suggests that having a strong rapport allows for more personalized and potentially effective sales tactics, such as offering to accompany the customer.

"And so that way, you can do that if. If you have the rapport."

Reiterates the importance of rapport in deciding which sales technique to use, implying that certain strategies may only be appropriate when a good relationship exists.

"Gesture towards the wallet, get their info down first."

By gesturing towards the wallet, the salesperson can subtly remind the customer of its presence, which is a non-verbal cue to prevent the "I forgot my wallet" objection.

"It also makes it seem like it's not under your control."

This quote explains that by implying a practice is just the usual way things are done, it removes the perception of the salesperson exerting control, making the customer less defensive.

"You don't want to say policy, because that'd be stupid, right?"

The speaker advises against using the word "policy," which might come off as rigid or bureaucratic, in favor of language that suggests a more casual and universally accepted practice.

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