Lecture Notes: Building Urgency in Sales with NEPQ Consequence Questions

Introduction to Urgency in Sales

• Challenge in sales: Losing prospects due to lack of urgency
• Solution: Use NEPQ consequence questions to build urgency

Purpose of NEPQ Consequence Questions

1. Seed Doubt:

   • Create doubt without making the prospect defensive
   • Show concern for the prospect's situation

2. Defend Themselves:

   • Get prospects to defend their need to change
   • Best used after establishing trust and credibility

3. Question Their Thinking:

   • Encourage prospects to question why they've not changed

Practical Application of NEPQ Questions

• Use towards the end of the conversation
• Structure:
  • Challenging tone followed by a concern tone
  • Begin with a question that challenges the prospect’s current process
  • Transition to a concern tone to show empathy and concern

Generic Consequence Question Formats

• "What if you don't address this problem and it worsens?"
• "Have you considered the ramifications if no changes are made?"

Industry-Specific Examples

Software as a Service (SaaS)

• Consequence of manual data entry in large enterprises
• Example: "What if you don’t automate and lose hours each day?"

Index Universal Life (IUL)

• Market inconsistency and retirement planning
• Example: "What’s your retirement plan if the market keeps fluctuating?"

Dental Implants

• Consequences of delaying dental procedures
• Example: "What if you lose more bone density and can't get implants?"

Solar Industry

• Rising energy costs and planning for the future
• Example: "What if power rates keep rising above your retirement income?"

Employee Benefits

• Losing executives to competitors with better benefits
• Example: "What are the consequences if top employees leave for better benefits?"

Additional Industries

• Cybersecurity: Impact of false positives on customer rejection
• Marriage Therapy: Consequences of ongoing marital problems
• Life Insurance: Financial security for family members
• Home Improvement: Missing out on family memories without home upgrades
• Fitness: Health risks of not losing weight

Sales Techniques

• Importance of tone: Use a concern tone to build trust and empathy
• Encourage self-reflection: Prospect verbalizes their need to change

Conclusion

• Importance of sharing knowledge wisely
• Encourage only sharing insights with non-competitors

Note: Use these notes as a study guide for understanding and applying NEPQ consequence questions effectively in various sales scenarios.