Cover & Diagrams

Little Red Book of Selling Book Summary preview
Little Red Book of Selling - Book Cover Chapter preview
chevron_right
chevron_left

Download, customize, and translate hundreds of business templates for free

Start for free ⬇️

Go to dashboard to download stunning templates

Download

Synopsis

People will only do business with others once they know them, like them, and trust them. They will buy the salesperson first, way before they even consider what it is that they're selling.

The Little Red Book of Selling teaches salespeople—or anyone for that matter—how to win the sale by getting their prospects to value "them" before they value the product or service.

This is like a pocket-reference guide for the salesperson who wants to learn how to sell their most important product of all—themselves. This book gives the reader 12.5 principles to improve selling themselves.

Summary

There are at least three principles the author repeats, in one form or another, throughout the book. One principle is being prepared for the sale. Another is about creating value for the customer. The last is about engaging the customer in a way so they'll feel fully convinced that the product or service is for them.

Questions and answers

info icon

A salesperson can effectively engage a customer in a virtual setting by being prepared for the sale, creating value for the customer, and engaging the customer in a way so they'll feel fully convinced that the product or service is for them.

To create a unique value proposition for a customer, you can start by understanding their needs and wants. Then, tailor your product or service to meet those needs. You can also differentiate your product or service from competitors by highlighting its unique features or benefits. Additionally, providing excellent customer service can also add value for the customer. Lastly, engaging the customer in a way that makes them feel fully convinced that the product or service is for them can also create a unique value proposition.

View all questions
stars icon Ask follow up

Prepare to win or lose to someone else

This section is about knowing the customer as well as the product being sold. Most salespeople tend to meet with the customer and then have them talk about their own business. The author specifies that a salesperson should take the time to do their own preliminary research on their prospects' businesses to learn how to gage what it is that they're selling, so that it better fits their customer needs. The most prepared salesperson wins, the underprepared looks like an amateur.

Questions and answers

info icon

Not understanding a customer's needs in sales can lead to a number of negative consequences. It can result in ineffective sales pitches, lost sales opportunities, and a damaged reputation. It can also lead to the customer feeling misunderstood and undervalued, which can harm the relationship and make it harder to secure future sales.

A salesperson can demonstrate their value to their prospects by doing preliminary research on the prospects' businesses. This will help them understand the needs of the customer and tailor their product or service to meet those needs. Being well-prepared shows professionalism and dedication, which can set them apart from less prepared competitors.

View all questions
stars icon Ask follow up

It's all about value, not price

Many salespeople have an issue with giving away free time. If a customer is shown that they are valued by the salesperson that takes the proper time to educate them on why their product is worth more than its sales price, then they will create value for the customer. The customer's perceived value and actual price is not the same. The salesperson can also become an influencer in their space to create value. Networking, giving speeches, posting informative videos, and educating others about their product's benefits and advantages will put them at the top of their field.

Questions and answers

info icon

A salesperson can stay at the top of their field by creating value for their customers. This can be achieved by taking the time to educate customers on why their product is worth more than its sales price, thus enhancing the customer's perceived value. Additionally, the salesperson can become an influencer in their space by networking, giving speeches, posting informative videos, and educating others about their product's benefits and advantages.

Some effective strategies for networking in the sales industry include becoming an influencer in your space, giving speeches, posting informative videos, and educating others about the benefits and advantages of your product. This not only helps to create value for your customers but also positions you at the top of your field.

View all questions
stars icon Ask follow up

Engage me and make me convince myself

One of the best ways to establish rapport and get others to talk about themselves is by asking the right, probing questions. Most salespeople tend to rant continuously about their product and their company without taking time to listen to the customer's needs. If the customer is engaged by a salesperson asking the right questions, then they will reveal everything that salesperson needs to know in order to convince them of why their product is the perfect fit.

Questions and answers

info icon

One way to make a sales conversation feel more personal and less transactional is by asking the right, probing questions. This allows the customer to talk about themselves and their needs, rather than just hearing about the product and the company. By engaging the customer in this way, they are more likely to reveal everything the salesperson needs to know in order to convince them that their product is the perfect fit.

A salesperson can make a customer feel like they're not just being sold to by asking the right, probing questions and genuinely listening to the customer's needs. This approach engages the customer and allows them to reveal everything the salesperson needs to know in order to convince them of why their product is the perfect fit.

View all questions
stars icon Ask follow up

Little Red Book of Selling digs into the psychology of sales and informs salespeople that they don't really know what the customer wants until they've asked. It's not about the product or its features. It's about how the product can benefit the customer. It isn't until the customer is sold on the fact that the salesperson is even genuinely interested in their needs that the "know, like, and trust" factor takes place. Once that happens, they will be sold. People buy people first and their product or service second.

Questions and answers

info icon

The "know, like, and trust" factor is a fundamental concept in sales, as explained in the Little Red Book of Selling. It suggests that customers are more likely to do business with salespeople they know, like, and trust. This factor is crucial because it establishes a strong relationship between the salesperson and the customer, which is often a determining factor in the customer's decision to purchase. The "know" aspect involves the customer getting to know the salesperson and their product or service. The "like" aspect is about building a rapport and connection with the customer. The "trust" aspect is about demonstrating reliability and integrity, assuring the customer that they can trust the salesperson and the product or service they are selling. This factor is important in the sales process as it helps to build customer loyalty and repeat business.

1. Understand the psychology of sales: Salespeople need to understand that customers buy people first and their product or service second. It's not about the product or its features, but how the product can benefit the customer.

2. Know, like, and trust factor: Salespeople need to establish a relationship with the customer where the customer knows, likes, and trusts them. This is a crucial factor in making a sale.

3. Be genuinely interested in the customer's needs: Salespeople need to show genuine interest in the customer's needs. Only then will the customer be sold on the fact that the salesperson is genuinely interested in their needs.

View all questions
stars icon Ask follow up

Download, customize, and translate hundreds of business templates for free

Start for free ⬇️

Go to dashboard to download stunning templates

Download