Advanced Looping | Free Sales Training Program | Sales School with Jordan Belfort

Summary

Jordan Belfort shares his sales expertise in this video, emphasizing the importance of overcoming objections to close deals. He introduces the concept of 'looping,' a technique to turn objections into opportunities by increasing the buyer's certainty. Using a structured approach, he explains how to guide a prospect through the sales process by addressing objections and revisiting the product’s value. Belfort highlights the significance of building rapport and aligning with the prospect’s level of certainty, ultimately increasing their trust and driving sales success.

Takeaways

• 😀 The key to success in sales is not just closing deals but turning common objections into opportunities to build certainty.
• 😀 Lousy salespeople can close ‘laydowns’ – customers who are already pre-sold. The real challenge is converting objections into sales.
• 😀 Looping is a process where objections are used to build more certainty, allowing the salesperson to keep moving toward a close without breaking rapport.
• 😀 When faced with an objection, don’t rebut directly – deflect the objection and use it as an opportunity to reinforce certainty.
• 😀 The first question when faced with an objection should be whether the idea makes sense to the customer, which helps gauge their certainty.
• 😀 When a customer is uncertain, the goal is to move them toward certainty by reintroducing the product or idea with a secondary, more compelling presentation.
• 😀 The looping process involves presenting additional benefits after an objection to address any gaps in understanding or doubt, moving the customer closer to certainty.
• 😀 It’s important to enter the customer’s world, reflecting their level of certainty before slowly guiding them toward a higher certainty level.
• 😀 By pacing the conversation, speaking in the same level of certainty as the customer, you can gradually increase their confidence in the product.
• 😀 The purpose of the loop is to move the customer's certainty across all three areas: the product, the salesperson, and the company behind the product, ultimately leading to a successful sale.

Q & A

What is the key concept behind the straight line sales system?

The key concept is to turn common objections into opportunities to build certainty for the prospect. The salesperson’s goal is not just to overcome objections but to use them to increase the prospect’s confidence in the product, themselves, and the company.

What is the role of 'looping' in the sales process?

Looping is the process of revisiting a prospect’s objection and using it as an opportunity to reinforce the certainty around the product. It involves returning to a presentation mode, filling in missing pieces, and addressing the uncertainty that caused the objection.

How does a salesperson handle an objection like 'Let me think about it'?

Instead of rebutting the objection directly, the salesperson should use a deflection technique. They ask the prospect if the idea makes sense to them and if they like the concept, without addressing the objection head-on. This helps gauge their level of certainty.

Why is it important not to answer objections head-on?

Answering objections head-on without understanding the underlying uncertainty can lead to further objections. The salesperson should focus on addressing the root cause of the objection, which is uncertainty, not the surface-level objection itself.

What is the purpose of deflection in the looping process?

Deflection serves to acknowledge the objection without directly answering it. By asking if the prospect likes the idea or concept, the salesperson can better understand where the prospect stands on the certainty scale, and it allows them to move forward with the sales process.

How does a salesperson determine the level of certainty of a prospect?

By asking questions like 'Does the idea make sense to you?' or 'Do you like the idea?' the salesperson can gauge the prospect's certainty. Their response, such as 'It sounds pretty good' or 'It sounds okay,' reveals their level of certainty, which can be on a scale from 1 to 10.

What happens after the salesperson completes the first loop in the sales process?

After completing the first loop, the salesperson continues to build certainty for the prospect, addressing the three key areas of certainty: the product, the salesperson, and the company. This involves entering the prospect's world and then gradually increasing certainty by emphasizing the value of the product and the salesperson’s expertise.

What is the purpose of using 'paste-lead' in the sales process?

Paste-lead is about matching the prospect's level of certainty and then gradually increasing it. The salesperson mirrors the prospect's tone and certainty, and then slowly builds up their own certainty, using positive and reinforcing language.

Why does the salesperson ask 'Does the idea make sense to you?' after the objection?

This question is designed to deflect the objection while simultaneously gauging the prospect's understanding and level of certainty about the product. It helps the salesperson understand where the prospect is emotionally and logically, which guides the next steps in the conversation.

How does the salesperson move the prospect from a '6' to a '9' on the certainty scale?

By looping back into presentation mode and emphasizing the key features and benefits of the product, the salesperson increases the certainty of the prospect. As they address the prospect’s objections and provide additional compelling information, the prospect's confidence grows, shifting their certainty from a moderate level to a higher one.