Algebra is a subject that many students misunderstand in school. I was one of those students. I didn't favor the X and Y factor and it took me three tries to pass the algebra one course. Once I was able to grasp the concept, it made sense. Now I use algebra to sell to my clients everyday. You are probably doing the same thing and don't realize it. Yes, you are using Algebra in selling!
The Meaning of "X" = Problems and Challenges
Selling starts with a mystery to salespeople. In the selling process, "X" represents the challenge or the problem the customer has. The "X" is critical because if we can't identify a problem, we can't offer a solution. Salespeople must first ask enough questions to determine what problems or challenges exist.
The Meaning of "Y" = Solutions
Nobody really understands "Y", it is a crooked letter and can go in different directions. In the selling process, it is the solution we offer to our clients. In order for us to understand how the "Y" fits in, we must first understand what "X" is. In algebra, we must learn how to approach our answers in specific order. The same is true in sales. First, we must determine what the "X" factors are before we can think about a solution.
The Meaning of "X+Y" = Opportunities
When we add the problem with the solution, we have an opportunity. Salespeople live for opportunities. The more opportunities there are the better chance we have for success. Typically, if a prospect has at least 3 problems and we have 3 solutions, we have a much stronger opportunity. Therefore, salespeople are better off if they can identify at least 3 opportunities before they proceed to sell a client. Trying to sell something based on a single problem rarely captures a sale.
The meaning of "O" = Objections
Everyone has objections before they buy. Many salespeople are able to define these objections and eliminate them along the selling process. If we want to sell more opportunities, we must understand what the client's objections are. Objections are important factors of every selling opportunity. Quite often if we don't determine these objections, the client isn't interested enough to share time with us. This is because we haven't defined their "X" factor. If we truly understood their problems and had the solution, we could help them eliminate the objections. This also goes back to us having enough opportunities in the first place.
The Meaning of "$" = Money and Profits
Salespeople don't need an explanation for sales or commissions. However, in sales, we must always focus on the customer's "X" factor. When we do this, we get the results we are looking for. Sales and commissions are the direct result of following the selling algebra formula in the right sequence.
by Steve Martinez, President of Selling Magic and Mastermind Sales Process Automation Guru http://www.sellingmagic.com |
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