The 5 Gear Strategy - Industry Training Module 3

By: | 06 Oct, 2023

The 5 Gear Strategy - Industry Training Module 3

The 5 Gear Strategy (Industry Training Module 3)

Daniel Spencer discussed a strategy called the "5 Gear Strategy" for effective follow-up in the context of sales and industry training. This strategy comprises five key steps:

  1. Start with Background: The first step is to begin the follow-up conversation by referencing the previous interaction or inquiry, ensuring a solid understanding of the customer's background.

  2. Check Progress: The second step involves checking how things have progressed since the last interaction. This includes assessing whether the customer has taken any action or if there have been delays, helping to determine the current status.

  3. Assess Next Steps: In the third step, the focus shifts to understanding the customer's decision-making process. Are they following the right steps, or is there a risk of recommending something that could lead to issues, such as financial constraints?

  4. Offer Assistance: The fourth step revolves around identifying and addressing any obstacles the customer may be facing. How can the salesperson provide assistance to help the customer move forward in the decision-making process?

  5. Call to Action: The final step is the call to action, where the salesperson aims to guide the customer towards a commitment or decision, ultimately advancing the deal toward closure.

He also delved into the psychological phases of a buyer's decision-making journey, emphasising the importance of recognising where potential customers are within these phases. The phases include:

  1. Acknowledgment Phase: At this stage, the buyer acknowledges a problem but may not yet be fully committed to taking action.

  2. Criteria Phase: In this phase, the buyer explores available options to solve their problem and assesses criteria for decision-making.

  3. Investigate Phase: The buyer conducts research, including financial checks and property appraisals, to further evaluate their options.

  4. Selection Phase: The buyer narrows down their choices, considering specific property designs and locations.

  5. Remorse Phase: After making a decision, buyers may experience doubt or buyer's remorse.

  6. Satisfied Phase: Eventually, buyers reach a point of satisfaction with their decision but may revisit the process in the future.

The key takeaway is that understanding where potential customers are in these phases can help salespeople tailor their approach and progress through the stages of commitment. Daniel emphasised the need to adapt to varying levels of commitment and offers a visual aid to assist salespeople in transitioning through these stages during phone calls.