How to be a Pro at Closing Your Prospects - 5 Levels of Commitment

Sam Foreign. What's up, Matt here. Today I'm going to be breaking down the mythical, the legendary five levels of commitment. If you're a sales rep or a business owner, these are the five levels of commitment that you're going to take a prospect through to give yourself the absolute best chance of making the sale most of the time. All right, guys, make sure you like, subscribe, hit notification, but all that kind of good stuff and I'll see you on the inside. All right, guys, so the five levels of commitment. Let's start off with that. First of all is a paid in full, piffy piff pif daddy dollars. Second one is a payment plan. The third one is a deposit. The fourth one is a scheduled deposit or scheduled payment. And the fifth one is a commitment to change and a follow up. So what I'm going to do now is break down how you kind of transition through may seem like suck eggs. This is a really, really important concept that I want you to get. If you can understand this concept, you will get the sale more often than you don't. So obviously paid in full is the best, right? We always want to get people to pay in full. And if you're out there and you're thinking, oh, I'd rather have the monthly recurring revenue wrong, you want your clients to pay in full. It helps liquidate cash better. It helps to liquidate your marketing faster. It's a more higher amount guaranteed income because not many OBT is lost the entire length of a program, no matter what it is, no matter how good it is. So it's always better to try and get a paid in full. But unfortunately we don't live in a universe where it's all rainbows and unicorns and not every everybody has all the cash up front or can part with all that cash quickly. So we have to have a way in which we can take people down a cycle to make sure that we give ourselves the best chance of getting in paid in full. But in the day we make the sale, if we don't get the paid in full, a payment plan is still a win. Okay, So I always start by pitching the paid in full. The reason why I do that is because I want to be able to sell them downhill if there's an issue. If I'm always pitching a payment plan, then the best thing I'm going to get is a payment plan. But a payment plan is still a win. Your chances are quite good of getting most of that money unless your delivery department just kind of, you know, shits the Bed or something like that. But we know that payment plans are not the highest level of commitment because if someone's 100%, like when they pay in full, they are committed. They have taken the maximum step possible. Like that's the most committed they can be. But we still want to be able to get the payment plan. So that's why it's a lower level of commitment. Now one thing that we always want to do as well, and the one thing that's great about payment plans as well as we can always farm them into a paid in full. So I like to give some sort of, not always a discount account, but some sort of added benefit for paying in full. Okay? So, you know, maybe it's a paid in full day, maybe there's an extra service or something like that, or an extra part of your product or a better product if you pay in full or they get delivered in a shorter period of time. But I can farm that payment plan into a paid in full, right? Which is the key. And that's a fantastic way for you as a sales rep or a business owner to collect more cash. Comment level if you're enjoying this. And also a sub would be fantastic. Okay, so let's just say that the payment plan was too much, right? They just, for whatever reason, they got a check in and the savings. And it takes three business days to kind of, to kind of get it there. Right? The next lowest level of commitment would be a deposit. So now deposits are not sales. And I'm going to say this again, deposits are not sales, but they are better than nothing. Okay? And so what we want to do is we want to get the highest level of commitment on any particular day that we're with that prospect. Sometimes it's a paid in full, sometimes the payment plan, sometimes it's a deposit, right? All we're looking to get is the highest level of commitment out of that conversation that we can possibly do. So taking a deposit, okay, as your next level down is still a very, very good step in the right direction. Now, not all deposits will become sales, but you have a much greater chance of it becoming a sale than if you just let them go with nothing. Having a system that gets deposits, but also more importantly, having a system that transitions deposits into sales is essential. So you have to understand that in order use these levels effectively, you want to have a system where you can take someone from a deposit into a payment plan and a payment plan into a paid in form. Now next, let's just say that, you know, they just don't they can't for whatever reason put down a deposit today, or they can't put down the payment plan today or they can't do the PIF today for whatever reason that may be. There might be a genuine logistical issue that's stopping them from being able to do that. Okay, so what we would then go for is the scheduled payment. Okay. So what we're going to do is we're going to have a specific payment on a specific day that's going to come out, which is then going to start the administrative process of them becoming a client. Now this is a tricky one because there's a lot of room for buyers remorse. There's, there's a lot of things in there. So we have to have a process that keeps that person in touch, keeps them engaged and that doesn't let the devils kick in, which is going to cause them to not go ahead with it. Okay, so this will be a bit of a trial and error process. Okay. But you want to make sure that you have a system that's replicatable of text, of emails, of calls, of ways to keep them in the system so that, that does eventually become a payment, whatever that type of payment may be. So your next level down from deposit is a scheduled payment. That is your next highest level of commitment. Now let's say the person's dug in like an Alabama tick. Son of a bitch. Is dug in like an Alabama tick. You're going for it and you just can't get anything. So what you do is you get a commitment to change. A commitment to change with a follow up. If you would have asked me three years ago if that was a legit sales methodology, I would have said no, you're weak. You just get them to buy or die. Right. After a years, some sales training, a little bit more experience, I've changed my mind on that and I'll tell you why. I've seen a lot of very, very successful salespeople who utilize this technique when they feel like they're, they're hitting that wall with a prospect where their objection handling is, you know, they sort of handled everything but the per. It's going to start getting aggressive and sort of, you know, nasty. So you want to be able to maintain a relationship with that prospector. So what you do is you get a commitment to change and you schedule a follow up. We have one sales guy in particular that's particularly good at this and he makes upwards of $50,000 a month in commissions. And a lot of that is through follow up. It's a great way to keep your prospect hooked. It's a great way to give yourself the opportunity to be able to nurture that prospect for as long as it needs in order for them to be able to get the money, to get the mindset, whatever it may be, to actually be able to make a sale. And that's how you create a sick pipeline, nice and luscious the whole way through so that you can actually be successful in the sales game because you can't just one call kill everybody. All right, guys, so those are my five levels of commitment, okay? They're designed to make you a more successful salesperson, someone who can actually, you know, see through the matrix and have an understanding that it's not all about one call or two call or five cold closes. There is an art form. There is a process that you can put in to get the highest level of commitment so you're not tearing your hair out, being frustrated, and you're actually making more money. If you did like this content, make sure you, like, subscribe, hit notification for all that kind of good stuff, and I will see you another video. Thank you very much. Bye.