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Book Summary "The Selling Gap"
The following is a 20 page summary of the book for your review. It provides the main concepts and ideas of the book and should provide you a good insight as well as prompt some interesting questions for the interview.
Summary of The Selling Gap, Selling Strategies for The 21st Century
Each chapter has been condensed to a one page summary for your quick review.
Introduction: Part 1 Strategies:
Opening with an example from ancient Scotland sets the stage for understanding what is meant by a strategy. The main point being that having a strategy is better than having none, yet others may have strategies that can overcome and defeat yours.
The key concepts that should be included in a strategy are:
Too many people and business are “reactionary” to issues, rather than taking a longer range view.
People need to work “on” their business rather than “in” their business.
The example of the young man and his fiancé demonstrates how a strategy can change how one views and acts in a situation, thus creating a different outcome.
The Ronald Regan example also demonstrates how many situations that have been present for a long period are finally changed when a new or different strategy is applied.
The examples of consultants and banks applying different strategies to a common market, yet both are successful. This demonstrates that having a strategy is the key, and no one strategy is necessarily better than another.
Strategy is an central part of the selling and persuasion process. Introduction: Part II What is Sales
The opening example of three sales people in the same business and area, all earning very different incomes, provides the point that selling performance is not about the product or the territory.
The example of a man buying a new TV illustrates the thinking and decision process a buyer goes through. The salespersons job is to take the buyer through this process.
Sales is discovering needs, wants and desires of the customer. Then taking actions to provide or fill those needs, wants and desires.
What’s in it for me
Customers buy a product for what it does for them. Not the product itself. Buyers what and expect a certain result, that is what they buy.
The strategies in this book are designed to separate you from the order taker type salesperson. The “Reverse Engineering” and “Buying Gap” are two such strategies.
Determining the customer’s needs is the central theme to The Selling gap.
Too many times the emphasis from the company and the salesperson is on the product, not the customer results.
1. Sales is a higher level of communication. 2. The customer buys for his or her reasons, not the salesperson’s. 3. Many salespeople let their product get in the way of solving the customer’s needs. Section 2:
Prospecting Strategies
The open example of the Fly helps readers relate to the wasted time and frustration that can occur when prospecting.
The two sales people example brings out the point that a planed strategy can reduce the “buzzing” most salespeople get caught up in.
The purpose of this chapter is to create a productive prospecting target and eliminate the “buzzing”.
The questions help the salesperson to question their own view of how they look at their prospects.
The ABC example gives a real life example of what type of outcome a well planed strategy can do.
The car salesman example demonstrates how quickly a strategy can make a difference.
The example profile gives the salesperson a starting point to develop their target profile of their customer base.
Section 2: Prospecting Strategies Getting to the customer
The initial example of the company with 70% of the market still emphasizing 40% of the salespersons time be invested in prospecting, is to demonstrate the importance of continuous prospecting for everyone.
No one answer to your prospecting strategy, rather you need multiple approaches being utilized at the same time.
Listing of tools:
Summary: 1. Have a well-defined description of your target customer. 2. Focus will save you time and increase your production. 3. There are many ways to find and qualify customers. 4. A good marketing strategy uses many methods at the same time. Section 3: Engagement Strategies Part 1: The Buying Process
The opening conversation on psychology utilizing and verifying process as being core to people’s behavior is the basis for the buying process.
The steps to the buying process:
The reference back to the TV purchase in the introduction Part II helps to apply the process to a purchase.
There is a brief discussion on manipulation and how it applies to the buying process.
To create the understanding of how important emotion is in the buying process, the example of a favorite song is utilized.
Another example of selling high dollar software demonstrates that virtually all choices and decisions are emotion based.
Ever aspect and strategy in this book will in some way interact with the emotions of the buyer.
Section 3: Engagement Strategies Part 2: The Reverse Engineering Strategy
The opening example of the Mig in Korea demonstrates the importance and value of analyzing and understanding your product.
A discussion on how the Reverse Engineering concept was developed and why.
Selling the idea and effort the initial application of Reverse Engineering will take.
The process of Reverse Engineering:
There are multiple examples of the four steps on various products to help the reader gain a deep understanding of the process and its results. This includes multiple examples of open questions to uncover the results the customer wants.
Here is one example of Reverse Engineering the Weather Report on TV. Fact Function/Benefit(What It Provides) Results Daily Weather Report Planning Information Helps me plan my weekend Warns of bad weather Gives me a
secure Feeling
Helps me protect my family
Now take the results and design questions to bring out the information from the customer’s viewpoint:
How does this type of questioning differ from what you might use? Would you ask, “Do you watch the weather?” What is your next question? Will it be difficult to engage this prospect in a conversation?
This includes a sample worksheet utilizing an everyday simple object, a coffee cup.
1. Focus on the potential results of the product. 2. Create open questions to determine the customer’s desired results. 3. By following the above, greater insight into new and different applications of the product will be gained more quickly.
Section 3: Engagement Strategies Part 3: Engagement
The initial example of you answering the phone to a telemarketer demonstrates that talking or pushing product generally creates resistance rather than acceptance.
To engage an executive in a positive way one needs to do more than talk a product, they need to have a high value to offer that fits the results they want.
We introduce the Value-Problem Statement. Example:
Another tool is the Problem or Results Oriented Question. These come directly from our Reverse Engineering questions.
The Engagement step is further examined and additional tools are added.
Bridge Statement: Moves from the Engagement step to the Discovery step. Credibility Statement: Provides a very brief idea of who you and your company are.
Section 4: Discovery Step Part 1: The Buying Gap Strategy
The opening example of Dan illustrates the power of the Buying Gap Strategy.
The purpose of the Discovery step is to uncover the needs, wants and desires of the customer. Also to understand the emotional keys, values and beliefs of the customer.
We introduce the concept of visualization and how creating a mental picture of the customer’s situation assists the customer and the salesperson. This also brings in the emotional aspects of the customer.
This picture of the present and the future cause a “gap” to be created that is visible to both the customer and salesperson.
The steps to creating the gap are:
Three key elements the salesperson is look for:
Money is not an emotion, rather what the money does for the customer is the emotion.
An emphasis is put on the need for the salesperson to listen 4 x more than they talk.
An example of the dialog that might take place and the questions used to develop the four steps and create the picture in the customers mind.
Section 4: Discovery Step Part 2: Socratic Questioning Strategies
The introduction of a personal encounter with Socrates leads to the understanding of why he is known as the father of questioning. The explanation goes on to explain his view of life and his purpose and method of teaching.
Socrates purpose in his questioning and teaching methods was to help each person find their “truth”, which only they could find. Thus questioning was used to lead the person to this “truth”.
The story of Robert and his family exemplifies the reality that most people do not question effectively and do not really know others as well as they think.
The four types of Socratic Questioning are:
Each type is described and examples of how they could be applied are provided.
Section 4:
Discovery Step
The strategy provides a view of five different types of questions and how they can be used to discover various types of information.
The five levels are:
A description and examples of each is given.
The purpose of the various levels is to determine criteria, values, beliefs and motives of the other party.
A significant study of values and how they affect peoples choices.
A significant study of motives and how they affect peoples choices and actions.
A study of the DISC behavior profile and how to utilize it
A study of time reference and its effect on choices and decisions
Taking values, motives, DISC and time orientation and studying the effects and how to present ideas to various combinations.
The importance of listening and ideas on how to enhance ones listening ability.
The usage of follow-up questions and why we call them the million dollar questions.
Section 5:
Recommendation and agreement
The initial example of Lori applying the strategy set the stage for a different way of thinking about selling.
The concept is getting the customer to say yes to a concept or idea that will address or solve their “buying gap”. Once this is accepted the sale is over, they have been moved to a decision to take action.
From here the salesperson now provides their solution that fits the concept and collects the money.
The challenge is that many salespeople will get to this point and then dump their product on the customer and wonder why they do not buy, but the competition gets the business.
The conceptual close is one of the most powerful concepts next to the questioning strategies, yet the least used by salespeople.
Section 5: Recommendation and agreement Part II: Recommendation Strategies
The opening dialog sets the stage for the section. Most buyers today do know or can acquire more information on a product than the salespeople can. What the buyer wants is assurance that the choice they are making is right.
Several challenges emerge when salespeople move into this phase of the buying process.
A bridge statement can provide a very specific recommendation to the customer based on the information from the Discovery.
The balance of the recommendation needs to be very specific in its content and how it ties into the emotional aspects of the buyer.
If a fact or element of the product does not directly apply to the results and emotions of the buyer, it should not be included!
The system of presenting specific relevant information to create credibility, trust and buy in is…
If one has Reverse Engineered the product, they already have the facts/features/benefits/results prepared.
The buyer only needs enough facts/benefits/results to feel comfortable with their decision. This can be one set or several. Section 5: Recommendation and agreement Part III: Trial Questions
The example of Morris provides insight into the power of the Trial Question.
Trial questions are opinion asking questions that provide an insight in to how the buyer is seeing and feeling about the proposal. Are they Hot and ready to go ahead, Warm with some reservation or information that is needed, or Cold and not engaged.
The product or solution is not brought into the Trial Question, they are about the buyers feeling or thoughts on the results presented.
Trial Questions should give the salesperson a guide as to what step the buyer is in and what strategies would be best employed next. Section 5: Recommendation and agreement Part II: Recommendation Strategies
This section provides three different strategies that could be employed when the buyer should be saying yes, yet seems to stall or hesitate.
A key point is these strategies are summaries of the buying process and should include the factual as well as the emotional elements discovered thus far.
The use of the Word Picture fits with the picture forming concept from the questioning section. Most people respond to positive pictures and emotions can easily be reactivated.
The Ben Franklin summary is from Poor Richards Almanac and works when someone seems to be confused or not very clear about the pros and cons of the choice.
The Summary Close is a method of isolating that issue or concern that may be holding the buyer back.
If the Discovery Step is utilized effectively these strategies will rarely be needed. Section 5: Recommendation and agreement Part V: Agreement Strategies
The Agreement should be a smooth flowing conclusion to the process. It is not some mysterious magic words or phrases that suddenly close the deal.
Three types of questions to gain agreement are presented.
When an agreement question is asked the salesperson needs to shut up and allow the buyer to answer. If they jump back in the chances are the buyers will back away. Section 6: Resistance and Objections Part I: 6 Step Strategy for Objections
Fear is one of the main factors in people resisting new products or offerings. It is assisting people in overcoming this fear that is the main purpose of this section.
Most people are more motivated by fear of loss of what they have than by promise of gain in the future.
Resistance can occur anytime during the buying process.
A well executed Discovery step and Conceptual close can eliminate 99% of potential objections.
The 6 steps of responding to an objection/resistance are:
6. Trial question to verify the resistance has been addressed.
The balance of the section is full of examples and dialog demonstrating the 6 steps and the 3 methods of responding.
The questioning strategies of Section 4: Parts 2-3-4 are invaluable in this segment. Section 7: Personal Power Part I: Self-Perception Strategy
The initial story of the old man sets the stage for the concept that the world is different any given person depending upon how they see it. Our perception of the world makes our world.
Most books on motivation, sales and personal development deal with the ideas of setting goals. The challenge is dealing with the daily influences that keep us from obtaining those goals.
Self-perception is the foundation for our self-image, self-confidence and attitude.
Section 7: Personal Power Part II: Self-Perception Makeup
A discussion on the meaning of “perception” starts the segment. This sets the stage for the elements that make up our self-perception.
The story of the women that left a damaging relationship and how she now sees life and herself very differently sets he stage for the elements that can change ones life’s view.
1. Choice, our lives are directed by our choices. There are several examples how choosing one choice or another can significantly change ones life’s outcome.
2. Self-Confidence, this discussion separates self-confidence from self-perception so one can understand the difference. The discussion distinguishes between the two, yet emphasis that both are necessary for continued growth and success.
3. Performance is determined by ones self-perception. Utilizing a graph type approach, if one sees themselves as a 5 then their performance is a 5 and will not move until the self-perception changes. Once the self-perception has moved to a 6 or 7 then the performance moves as well.
4. Getting past the past studies the effect that past experiences have on our self-perception. It is acknowledging these experiences for what they were and moving on that creates a stronger self-perception.
5. Fear comes in many forms and holds most people back from their peak performance. The discussion focuses on why some fears might exist and how to move past them. Section 7: Personal Power Part III: Strategies in Creating a New Self-Perception
To create a real change in ones life starts with a “vision” of whom or what one wants to become. Several specific steps are discussed to create a vision.
Once this vision is created and clear how do we maintain this vision and our self-perception. Several concepts are discussed that can help to maintain this self-perception.
A key to setting goals is to set the goal even if all the information and materials are not there. Even if there is not plan, set the goal. Once set the goal will provide the focus for you to discover the needed resources to complete the goal.
Summary: 1. Self-perception is the foundation of our attitude. 2. Self-perception can propel us forward or act as a lid. 3. Self-perception can be challenging to change. 4. For us to change, our self-perception has to change. 5. Self-talk and visualization are two of the most powerful ways to change. 6. Forgiveness is necessary to get rid of the garbage. |
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