This is a YouTube video titled "The MYTH of the Sophisticated Buyer" created in December 2020. The content features a monologue by Matt Ryder discussing sales strategies, specifically debunking the idea that sales processes should change based on the perceived sophistication or wealth of a buyer. Matt emphasizes that all buyers purchase based on emotion and advocates for a consistent sales approach regardless of the prospect's financial status or experience. The video also includes promotional content for a sales coaching group and role-playing sessions.
Hey, guys, what's up? Matt here today. I have a video for you that's meant to calm you down. It's gonna relax you. It's gonna have you understand that there is no such thing as a sophisticated buyer. One of the biggest things that I see salespeople do is that they make a change in their process because they think or feel that the prospect is sophisticated or really successful. They don't buy from emotion, they just want to know the details, get down to the numbers. Bullshit. It's a trap. It's a trap. You never ever change your process based off the perceptions that you have of a prospect, especially if it's just revenue based. I mean, it's a borderline irrelevant figure in most cases. Okay? If the process that you have works, you do, it doesn't matter, okay? They have a problem, you have a solution. It doesn't matter whether they're Jeff Bezos or if they're just some dude who's trying to get an agency off the ground. It doesn't matter. Now that doesn't mean that you sell everything in the exact same way. That's that, like, that's not what I'm saying. Some products and services require different sales processes, right? And that could be because of the market, it could be because of a lot of different factors. But at the end of the day, like, let's say you have a, like, it's like a sales coaching program, for example, I don't care if the guy is doing 200k a month or 2k a month. Like, I'll do the sale in the exact same way. Some of the places that we go down that sale and some of the questions that they might ask might be different for sure. But at the end of the day, like, I have a process that I know works. And so I'm going to take someone through that process because then at the end of the day, I know that I've done everything that I can do and I haven't skipped any steps because of any sort of misconceptions. I've done a lot of different types of selling. I've sold a lot of different products, a lot of different services. And so there is one in particular where I used to get a lot of like 5 to 10 million dollars per year turnover. Business owners, right? Which would be considered, I guess, a sophisticated market. I guess what I learned is that I would always go, those guys, they take forever to close. Like, you need so much more information. And like, like, because I started doing that relatively early in my, like, high Ticket sales career. I found that like as soon as I found someone making what I perceived to be a lot of money at the time, I look back and now and I'm like, okay, but anyway was that I would change my process because I thought that they were like too sophisticated for the process, right? And so that would meant that I would just never close those people. And so there, you know, would take forever. And I couldn't get out the cost of an action. I just, I spoke to them differently and I, I just kind of, I bought into their narrative because usually those people, they're just more sophisticated in how they talk to you so they can allow you to buy into their bullshit much easier, okay? And then you allow yourself to be bought in, and that just means that you don't go through your process and you don't end up selling them. What I learned was that my perspectives should not affect my process. Every single time I let the idea that someone doesn't need to go through the process, that someone doesn't need to go through consequence questions, that someone doesn't need to go through cost of an action because they're, you know, X, Y, Z. Those people never end up buying, okay? They might have given me every single buying signal on the planet, but at the end of the day, they never end up buying because I fell into their trap. The idea of a sophisticated buyer is one that salespeople have developed to make themselves feel better about closing deals for perceived high, high net worth or successful individuals. Like, oh, I couldn't say that. I just, I just couldn't ask him that question. It just didn't feel right. It's just a load of bullshit. This is what a real sophisticated buyer versus non sophisticated buyer is, okay? This is the actual definition that I think will serve you best, okay? A sophisticated buyer is one that knows the industry and knows rough pricing of what you do. So this is for an example, you take fitness, it's a very easy example, okay? Someone who's like had personal training before and that person could make a thousand dollars a month. They could make a hundred thousand dollars a month, okay? The person who's made a hundred thousand dollars a month, if they have absolutely no experience in the fitness industry, that is not a sophisticated buyer, right? Because they do not have any context of what you do or how you do it. So you can say, oh yes, personal training is $100 a session and their heads might absolutely fucking explode. Even though they can easily afford that because they were expecting crunch, which is $8 a week. So they're expecting like $10 a week for personal training, right? Whereas the sophisticated buyer, someone who's been through the process before, understands it. Okay? It's an easier sale because they've been through the process so they have an expectation of what the value that you're going to deliver is. So when you talk about the value, you know, and you can take them through a process where they've been through it before, you know, you don't have to do lots of pre framing on price and stuff like that. So that's really the difference. A buyer can be worth 34 billion dol if they have no idea what you do or how you do it, it doesn't really help you. And so I'll give you like another example. Let's just say you walked into a car dealership, you see a two hundred thousand dollar Mercedes, you're like oh that's a nice Mercedes, right? Let's say you walk into another car dealership, you see a $200,000 Kia, you're gonna be like holy shit. A $200,000 Kia? That is mental. Okay? You're a sophisticated buyer, you understand the price of cars. If you're an alien and you've never seen a car before, you just think that there are two cars that cost the same. Like the level of means that you have doesn't necessarily dictate your level of sophistication. Long story short, children, don't change your process. Don't get sucked into the narrative that just because somebody makes money that you need to speak to them in a different way. 100% of people buy on emotion 100% of the time. It's just up to you to figure out what that emotion is. All right guys, I hope that was helpful. Make sure that you slap like now. Make sure that you hit the notification bell that you press subscribe, all that kind of good stuff so you can get more of this content. If you want to see us more and get coach passed a little bit more, you can have a look at our role plays that we do every single day. In the closing code Facebook group link will be in the description. As always, if you want to take some of your hard earned commissions and send them towards us. It's only 25 bucks a week for the first week of the closing cloth and $50 a week Aussie dollary dues every week after that. So go through there, check it out, you get role playing with us every single week, Every single day almost. All right guys, have a good day. Bye.
