Example Of Re-setting The Buying Criteria

21 replies
This comes from the mortgage industry.

Home owners buying criteria is looking for the lowest interest rates.

However there is total cost of loan over it's lifetime or even 7 to 10 years.

For one mortgage broker, the people answering the phone couldn't get
into a discussion over total cost of loan because interest rates was the
fixed criteria everybody had.

So they made one change, when the caller asked for the lowest interest rate they would reply,
"pardon me, but do you mean total cost or lowest interest rate?"

The reply would be, " what do you mean total cost?"

Then the magic happens, "oh hasn't anybody told you that there is a difference
in costs of between $30,000 to $100,000 over a 7 to 10 year term?"

Bam, reset the callers buying criteria.

Another example...

People want high response from their ads written by a copywriter.

"I'm sorry, do you mean total revenue or response rate?"

Another example...

A SEO provider. Prospect wants a high ranking...

"I'm sorry, do you mean turning ranking into phone calls which turn into booked jobs or high ranking?"

Always look to come up with a higher level outcome than they
first thought of.

There are many more ways to change the buyers buying criteria.

If you like to know some more, let me know and I'll post them.

Best,
Doctor E. Vile
#buying #criteria #resetting
  • keep it coming.


    IMO- it is hard for marketing, and sales people. to see the practical

    things you can do, it's risky.

    But, it provides multiple benefits.
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  • Profile picture of the author mojo1
    Could this Reset framing also be used to flip other common hold outs/objections such as:

    "I'm happy with my current website designer" Reset frame " Are you happy with how good your site looks or the number of appointments you get from it daily?"

    Thanks for this post Ewen. I find it terribly challenging to remember rebuttals, let alone when best to use them. But this Reset reference my dear friend will definitely help build up the aging mental muscles.
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    • Profile picture of the author ewenmack
      Originally Posted by mojo1 View Post

      Could this Reset framing also be used to flip other common hold outs/objections such as:

      "I'm happy with my current website designer" Reset frame " Are you happy with how good your site looks or the number of appointments you get from it daily?"

      Thanks for this post Ewen. I find it terribly challenging to remember rebuttals, let alone when best to use them. But this Reset reference my dear friend will definitely help build up the aging mental muscles.
      I don't see them as rebuttals as that implies a adversary stance.

      For the "I'm happy with my web designer",
      can move to create a performance gap, or what's the benchmark.

      So it could be, "I'm pleased for you Mary. So your website has achieved or bettered your industry benchmark then?"

      You don't tell her what that benchmark is in her industry.

      She is likely to ask you what that is.

      Don't tell her.

      Say "Oh, hasn't your designer told you?"

      Then wait for her response.

      Your replies never fully give what she wants
      so that she now really wants what you have.

      Best,
      Doctor E. Vile
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  • Ewen, that message was masterfully crafted. And overall, the messages given in this post are SUPER valuable.

    Thanks, my friend.
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  • Profile picture of the author Peter Lessard
    "Passive web sites $250. Direct marketing web presence (for those that qualify) $7,500"
    titles like this can be very effective on local classifieds.

    If you have prospects on the phone asking what your cost is for a web site then ask
    "did you want a passive web site or direct marketing web presence?"
    They will ask the difference then you can go into your pitch...
    Signature
    Ready to generate the next million in sales? The Next Million Agency
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    • Profile picture of the author ewenmack
      Benchmark Results

      This is mentioning a competitor he will most likely know to create dissatisfaction where there wasn't before.

      "John Sutton at x is getting x.
      If you aren't, then maybe we should talk
      and I'll give you the inside story what he's doing.

      ph xx *xxx xxx
      Ewen

      End///

      Best,
      Doctor E. Vile
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      • Profile picture of the author ewenmack
        Just recalled this one.

        Critical Gap

        This was a life insurance brokerage. Sent out a voice broadcast to cold lists.

        Message went something like this...

        "We believe there may be a critical gap in your (type of insurance) cover."

        Got a massive response.

        Key words are critical gap which can be applied
        to many situations.

        Best,
        Doctor E. Vile
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        • Originally Posted by ewenmack View Post

          Just recalled this one.

          Critical Gap

          This was a life insurance brokerage. Sent out a voice broadcast to cold lists.

          Message went something like this...

          "We believe there may be a critical gap in your (type of insurance) cover."

          Got a massive response.

          Key words are critical gap which can be applied
          to many situations.

          Best,
          Doctor E. Vile
          that's a good one.



          don't sell life insurance...have people buy "peace of mind"

          You can get the cheapest premium, But , do you really want that as the "Value of your Life" to your beneficiaries or

          would you sleep better at night, if you had a top rated company, that would be there when you wake in the mourning???

          love the word play ( mourning is sorrow over someone who has died)
          and using the Fear of Death, of not waking up in the morning!

          how is that for a reset?

          p.s. - Claude dosen't sell vacuum cleaners, people buy a "Quality of Life"

          household and healthy children, in the Face of so many environmental dangers.
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          • Profile picture of the author ewenmack
            Using the Critical Gap, these three things things need
            to be considered for the likehood of it's effectiveness...

            1 How big the problem
            2 How urgent the problem
            3 The chances of it happening

            You could have the first two and not the third
            which will stop it's effectiveness.

            Best,
            Doctor E. Vile

            Originally Posted by kirbymarketingconcierge View Post

            that's a good one.



            don't sell life insurance...have people buy "peace of mind"

            You can get the cheapest premium, But , do you really want that as the "Value of your Life" to your beneficiaries or

            would you sleep better at night, if you had a top rated company, that would be there when you wake in the mourning???

            love the word play ( mourning is sorrow over someone who has died)
            and using the Fear of Death, of not waking up in the morning!

            how is that for a reset?

            p.s. - Claude dosen't sell vacuum cleaners, people buy a "Quality of Life"

            household and healthy children, in the Face of so many environmental dangers.
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  • Profile picture of the author Oziboomer
    Some real gems here Ewen. Thanks for sharing and creating great discussions in the forums.

    We use some simple wording when we've closed a sale to encourage upfront payments or to get a higher value deposit.

    We say "Would you prefer to pay in full today or how would you like to pay your deposit?"

    About 20% pay upfront and the others ask "How much deposit is required?"

    to which we reply "The MAJORITY of clients choose to pay half now."

    In many cases the client will then opt to pay in full and those that don't pay the 50%.

    The few genuine customers who desire our services or products but cannot pay the larger deposit will usually discuss their issues.

    This helps us to identify the people with cash flow problems and we can address timing for completion or part pay options to assist them to still afford our services.
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    • Profile picture of the author ewenmack
      Originally Posted by Oziboomer View Post

      "The MAJORITY of clients choose to pay half
      Years ago when I was in the lawnmowing biz, right before I mention the price, I would always say "For your sized lawn, clients are paying me x dollars."

      Then I would shut up and wait for their reply.

      This had the affect of going agaist what others are doing
      should they not accept the price which is very hard to do
      for most people.

      Secondly, shutting up shows strenghth In
      your position. No need to say more.

      I got higher prices than other operators.

      Best,
      Doctor E. Vile
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      • Resetting???

        or... "set the frame" ???

        Attorneys have clients, not customer's

        Doctor's have patients, not customers

        Marketers are consultants, so have clients, not customers



        just pondering.
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        • Profile picture of the author savidge4
          Originally Posted by kirbymarketingconcierge View Post

          Resetting???
          or... "set the frame" ???
          Attorneys have clients, not customer's
          Doctor's have patients, not customers
          Marketers are consultants, so have clients, not customers
          just pondering.
          I would say that the above are pretty common static roles. To give those a twist, replace with "Partner"

          An Attorney can partner with someone to join together and get through the litigation process together.

          A Doctor can partner with a family to meet all of their medical needs. Walking together on a path to better family wellness.

          A Marketer can become partners in business with a unified goal of growth and improved sales.

          I think it changes the dynamic of the relationship. It takes the idea of being a number or just another patient / client out of the picture. Gives the perception that you care. I know for me personally I do care... and that caring does extend from the business role as the relationship develops.
          Signature
          Success is an ACT not an idea
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          • Profile picture of the author ewenmack
            This re-setting the buying criteria comes from the
            furniture moving world.

            All furniture companies have insurance to cover damage and loss.

            What nobody knows is that fully insured means per pound of damage.

            40 cents is paid out for every pound weight of item.

            So if you had the latest sound around wide screen tv valued at $5k and it weighs 100 lbs, you'll be paid out $40!

            That's a legal requirement.

            Mentioning this in the advertising that it's standard practice, what*
            market replacement insurance is,
            they have it, policy number, broker ph number...
            well suddenly the buyers criteria is re-set.

            Best,
            Doctor E. Vile
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  • Profile picture of the author helisell
    I started out selling cars for a franchised dealer.

    The salespeople hated the customers who came in asking for a 'brochure'
    because they didn't know how to turn that into a conversation.

    I 'loved' those customers.

    My conversation went like this:

    Customer: 'Could I get a brochure please?'

    Me: Certainly. Do you want the ordinary brochure
    or the price options one?

    Customer:What's the difference?

    Me:Well they both have the same cars in but one of them
    shows you ways of getting the car at a much bigger discount.

    I don't think I need to tell you how the conversation went after that do I?

    It was a long time until I revealed that to the other salespeople....
    in fact not until I became the sales manager.

    You can use all sorts of variations on that depending on your industry.

    What's the best price you can do on a basic website?
    Is that a static or dynamic website?

    What's the best price you can do on xyz123 telephone system?
    Is that a business options system or a bare frame system?
    (I made those terms up)

    How much to re-roof a 10 by 12 foot flat roof?
    Does it have pre-stressed timbers?

    You just need the customer to go 'huh...' and to realise that there might be more to it than just 'price'

    Mery Xmas everyone

    .
    Signature

    Making Calls To Sell Something? What are you actually saying?
    Is there any room for improvement? Want to find out?

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    • great input helisell

      It makes me think of the standard, old & tired response from

      the sales training you received on how to handle this "objection"
      used in the auto industry, pushed by managers, because "we have always done it this way and it works"

      same rational from the horse and buggy makers!

      definition of Reset

      : to set again or anew


      any body that goes to a car lot, that gets a brochure, never wanted 1 - they want a car!and less pressure.
      FACT - over 90% of people that walk on to a car lot, purchase within a few weeks.
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      • when I sold Investments (by PHONE)

        the standard sales process was:

        Call / qualify / send information / call back and try to close.

        (they , the Prospec, knew what was coming)

        I wouldn't send them anything, and call back in 2 days

        and tell them the advisor is "closing out new money or raising his minumum.."

        I then re- qualified them and they had to tell me they we interested or I would

        take it away from them.


        seemed to work pretty good. My initial investment was the highest
        25k compared to 10k on average ,in a sales department of 35+ brokers

        and re setting, take way's were easier!
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    • Profile picture of the author AleksanderSuave
      good points.

      this makes me think of the grant cardone training I did when I did F&I in the car business
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  • Sounds like some Oren Klaff stuff, now that I think about it.
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    • Originally Posted by Luis Michael Orts View Post

      Sounds like some Oren Klaff stuff, now that I think about it.
      this is "take away selling" - IMO

      Oren did a marketing "remix", updated some things, and added some

      new nomenclature, like "set the frame", "nail the hookpoint", etc.,,

      for example :

      "Call Me Back" Objection - I don't know about that. I'm busy....... ( Oren's Grin & Defy ).


      reminds me of Ewen's term "tipping point".
      (like this better than "nail the hookpoint" , more precise and explanatory)

      Did the Internet, pull marketing / push marketing, and the empowering of the buyer by going online,

      reset the buying criteria???

      2015 - Re Setting of our changing world, time for another Quantum Leap forward :

      headline :

      Could 2015 be the year of domestic robots and 3D printed food? Futurologist claims technology has reached a 'tipping point'

      Read more: http://www.dailymail.co.uk/sciencete...#ixzz3N1QfN5hg

      time for offline business to get going and keep up , or get left behind!
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      • Profile picture of the author ewenmack
        Originally Posted by kirbymarketingconcierge View Post


        reminds me of Ewen's term "tipping point".
        (like this better than "nail the hookpoint" , more precise and explanatory.
        [/B]
        Big distinction between the two.

        Tipping Point is the resident desire to make a change
        without the external help of a marketer.

        Nailing the hookpoint is what a marketer has done
        up to that point...also the point when a person is most suspetable
        to buying.

        Best,
        Doctor E. Vile
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