New Model of Selling Lecture Notes

Introduction

• Aim: Learn how to sell more effectively.
• Targets: Salespeople at all levels (below average, average, good, best in company, and best in the industry).
• New selling model, NEPQ (Neuro Emotional Persuasion Question), versus old models like consultative selling.

Old Model of Selling (IA Model)

• IA Model: Attention, Interest, Desire, Action.
  • First 10%: Build rapport (e.g., small talk about weather, etc.). Considered "fake rapport."
  • Next 10%: Surface-level questions (logical questions but do not delve deep).
  • Features and Benefits: Major part of the conversation. Discuss products/services.
  • Presentation: Half the conversation. Focus on describing products/features.
  • Closing: Last 30%. High sales pressure and objection handling, leading to high sales resistance and burnout.
• Numbers Game Mentality: High attrition due to emotional rejection.

New Model of Selling (NEPQ)

• NEPQ: Neuro Emotional Persuasion Questions.
  • Focus on building trust and emotional engagement.
  • Connection Questions: Disarm the prospect and let their guard down.
  • Problem Finding: Help prospects realize problems they didn't know they had.
  • Gap Creation: Build a gap from where prospects are to where they want to be.
  • Prevent Objections: Use questioning to prevent common objections.
  • Future Pacing: Help prospects visualize a future where their problems are solved.
  • Presentation: Only 10% of the conversation.
  • Closing: Just getting a commitment.
• 85% Engagement Stage: Building trust and gap creation.

NEPQ Steps

1. Connection Questions
   • Disarm the prospect; focus on results rather than price.
   • Examples provided for various industries (e.g., auto dealership, SaaS, HVAC, Financial Services).
2. Situation Questions
   • Understand the prospect's real situation.
   • More about gathering factual information.
   • Industry-specific examples provided (e.g., health insurance, employee benefits, home improvement).
3. Problem Awareness Questions
   • Help prospect identify and articulate their own problems.
   • Examples illustrate asking prospects about their dissatisfaction and desired changes.
4. Solution Awareness Questions
   • Understand what the prospect has done in the past to solve their problems.
   • Examples provided for various industries (e.g., distress property selling, health insurance, medical devices).
5. Consequence Questions
   • What happens if the prospect does not solve their problems?
   • Cause prospect to defend why they need to change.
   • Examples provided for multiple industries (e.g., dental implants, employee benefits, marketing agencies).
6. Commitment Questions
   • Commitment to next steps or purchase.
   • Micro-commitments for multi-step sales processes.
   • Emotional phrasing ("Do you feel this could be the answer?").

Key Points

• Engagement and Building Trust: Essential part of selling.
• Avoid Fake Rapport: Use genuine questions and connection techniques.
• Focus on Emotional Drivers: Pain and future pain drive the need for change.
• Prepare for Objections: Use questioning to lessen objections beforehand.
• Future Pacing: Visualize future solutions to solidify emotional buy-in.
• Tone of Voice: Use appropriate tonality to convey concern and empathy.

Conclusion

• NEPQ focuses on engaging prospects emotionally and building trust, reducing the reliance on old high-pressure tactics.
• Importance of continuously refining sales skills and adapting to industry specifics.