I help founders who sell, but aren't "sales"people. Are you open to one hyper actionable sales tip per week, useful for your very next sales meeting and consumable in 4 minutes or less?
127: Fame
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Hey, 👋 Scott from The Sales Mastermind here. Today’s edition only takes 2 minutes. To close a deal, you have to be in the deal. That is why every seller and every business should strive for Fame. Today we’ll cover:
Storytime I was recently watching a YouTube channel about Pokémon card collecting called "DeepPocketMonsters" (DPM). DPM has over 2 million subscribers and is run by Pat Flynn. Pat also runs a business/podcast called Smart Passive Income (SPI) and was an investor in one of my previous employers. ​The video I was watching opened with a fan contacting Pat to sell his incomplete collection of every card variation of a popular Pokémon called “Umbreon”. There are at least 130 Umbreon variations, with the oldest printed in the early 2000s and the newest just released. While incomplete, the collection had over 100 Umbreons. This is a rare, expensive, and unique collection that many collectors would love to buy. But Pat, as the YouTube character DeepPocketMonsters, was the only one invited to buy it. If Pat didn't have the YouTube channel, he might not even have known this collection existed, let alone had a chance to buy it. And that is the benefit of Fame. What is Fame Fame, in the context of sales, is your buyer thinking of your product, business, or name at the moment they’re considering how to solve a current problem that you solve. Fame can be direct, meaning the buyer themselves knows (or knows of) you and reaches out. Or it can be indirect, meaning the trusted advisors your buyers seek advice from tell your buyers to look at you. For Indirect Fame, the trusted advisors could be (listed in order of trust):
Fame means you’re invited to be in deals you might otherwise never know about (inbound deals), and it means when you reach out (outbound deals), your advances are much more likely to be accepted. Some Stats To bring this into the quantitative, according to Harvard Business Review, Salesforce, and Gemini: “84% of B2B buyers are now starting the purchasing process with a referral, and peer recommendations are influencing more than 90% of all B2B buying decisions” And “Up to 63% of overall company revenue is influenced by word-of-mouth and existing client referrals” Meaning Fame gets you in the deal, influences whether they buy from you and contributes a majority of revenue. You are (probably) already Famous If you have been in business for any length of time (3+ years), you have a level of Fame within your niche. It’s impossible not to, because you have worked with enough clients and done enough good work to keep going. Let’s call this micro-Fame. Another test of micro-Fame is your revenue. If you turn over anything over $2 million, you’re definitely micro-Famous. The last test is how hard or easy it is to work deals that are a perfect fit. If the buyer is compliant, the deal flows, and it feels like the buyer was ready to close before even getting into the sales call - your buyers are already primed to work with you because you have Fame. Make it real If you want to get Famous, start small:
Alternatively, if you want to test your Fame, spend the next 6 weeks (the rest of July and all of August) generating referrals from your current audience. Some ideas of how you can do this are:
Ultimately, Fame, gets you in the room. Then Fame helps deals close easier and faster. Get Famous. Until next week, PS Did someone forward you this email, and it seems like something you want more of: Link to subscribe​ PPS You can find the back catalogue here, all 120+ newsletters: https://thesalesmastermind.kit.com/​ |
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I help founders who sell, but aren't "sales"people. Are you open to one hyper actionable sales tip per week, useful for your very next sales meeting and consumable in 4 minutes or less?
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