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Sales Best Practices: Lessons from the Wolf of Wall Street (and some)
Last year I wrote about a few successful sales strategies, however, after helping with sales at GreenRope, and recently seeing the Wolf of Wall Street, I’ve decided to write another blog post about sales and how to best approach the art.
If you have seen the Wolf of Wall Street, a new movie with Leonardo DiCaprio, you will have seen the main character’s charisma and skill for selling penny stocks to the 1%. This, my friends, is skill. In fact, it is beyond skill, he is a sales ninja. This is the person (minus the drugs and illegal dealings) that sales professionals strive to become. Why? Because the man could sell.
In once scene, Jordan Belfort (Leo DiCaprio) asks one of his misfit friends and potential employees to ‘sell him a pen’. The friend takes the pen, and asks Jordan to write his name on a piece of paper. Naturally, without a pen, Jordan could do no such thing. Et voila! Pen sold.
This scene defines the basic rule of sales. Until a need is recognized, there is no real value to your product or service.
So, what does this mean? This means that you, as a sales person MUST create a sense of urgency and immediately illustrate value if you want to close more deals, and quickly.
Step 1: Prioritize their need
As a sales person you need to show that whatever your selling not only provides a solution to some of their most urgent problems, but that it is also the most important need they should be addressing right now. You need to find out what motivates your buyer. Get to the core by asking a ton of questions. Find out their pain points, and know exactly how your product/service can take the pain away.
Step 2: Show both your value, and the value of what you are selling
Simple fact, you must make a compelling case for both yourself and your product. First off, what value does your product/service have, and secondly, what’s YOUR value? As a sales executive, you want to be a consultant, someone to lean on, to trust, to engage with. The more a person trusts and likes you, the more likely they are to buy from you.
You gain this trust by showing the buyer the value of what you are selling. How is it going to affect their lives in a positive way. For example, GreenRope is not just a CRM platform it is a time saver. It makes YOU more productive, so that you can focus on the things that really matter. GreenRope also keeps you organized, so that your business can close more deals. More closes means greater profits. Again, value on top of value.
Step 3: You’ve established the need now create the urgency
Creating urgency does not require a special or a promotion. A sense of urgency is triggered when you convince the buyer that their need is something that can be done away with quickly, and that you have the powers to fill the void.
Essentially, you have to make them realize that the problem you are trying to help solve is their number one priority. For example, if a company is just starting out, GreenRope is a critical piece in building the foundation of the business. Therefore, their need for a CRM and marketing automation platform is urgent beyond anything else.
Besides being a dragged out flick, the Wolf of Wall Street did have some insight for sales executives everywhere.
OK, now on to what Jordan Belfort didn’t have, and a lesson any present day ‘Wolf’ could learn from us. Yes, Jordan Belfort knew how to sell, but what is the one thing that maybe could have made the Wolf even more successful?
Technology. Technology has given us the ability to stay organized. I am not talking about a spreadsheet on your PC however, I am talking about sales specific software, like a CRM.
A CRM allows you to:
The Wolf of Wall Street may have reinforced the bottom line of sales, but today we have advances technology available that helps us out even more. Staying organized, strategizing, and building solid, long lasting relationships is what is going to close deals and boost revenue in the end.
Written by Alessandra Ceresa