By the end of this episode, you’ll know how to turn a “no” into a “yes” with great insights from renowned sales coach Tom Hopkins.
The true measure of who you are as a salesperson may be found in what you do when you hear the word “no.” But to some, “no” is actually the sweetest word in sales. That’s because it’s almost impossible to get to a “yes” without a “no” – at least according to Tom. He lays out this concept in detail in his book When Buyers Say No. Tom says that when people buy something of consequence, they must start with an objection to help them justify the expenditure.
Tom has actually written or co-written 18 books on selling, including How to Master the Art of Selling and Selling for Dummies. He learned the art of selling the hard way, starting off in construction before transitioning to a successful real estate career. His story shows how anyone with drive can get anywhere.
Tom noticed something: that the word “no” exasperated even good salespeople, but sales stars seemed to thrive on hearing rejection. That’s because they did not see “no” as a rejection, but as permission to begin the next phase of the process.
4:20 Tom talks about what it really means when somebody says “no.”
6:00 We’re talking about big dollar amounts and something with a tangible effect on people’s lives. In other words, it’s more than just a transaction.
8:20 How do you become a master questioner?
10:20 Tom says there are certain questions you must ask to get prospects into the “now.”
12:10 Tom explains the “E” in his “NEADS” formula.
14:55 Most people think of a sales process as linear, and that’s not necessarily how it goes. Tom says to think of it instead as a “Circle of Persuasion.”
18:20 How important is scripting to a sales presentation?
19:50 Some of the most common responses from prospects include “It costs too much” or “I need to shop around before making any decisions.” Tom says have no fear in these situations – just use the right scripting.
22:20 Tom shares some key ideas that he thinks every insurance agent should know.
26:00 Tom says being passionate about the product or service is essential to being a great salesperson.
28:05 Tom shares some insights into how to increase your persuasiveness when doing a presentation.
31:20 Many presentations involve working with a couple. When in that setting, Tom says the key is to get the husband and wife to start bantering.