If you haven’t seen, “The Big Short” then you missed Ryan Gosling amazing portrayal of Jared Vennett. Jared shorted the housing market just before ‘The Great Recession’ and profited with Billions. In one electrifying scene Jared delivers a sales pitch for the newly created credit default swaps and hits the ball out of the park! It was so memorable that I believe MSPs could benefit for watching the clip and analyzing his sales technique. What new MSP sales trick can Jared teach IT providers that would enhance their presentations?
You can watch the video clip here: https://www.youtube.com/watch?v=3hG4X5iTK8M
Visual Aids Help Capture Interest
In the beginning of this scene Jared unveils his visual aid which just happens to be a stack of Jenga blocks marked with triple A at the top and descending all the way down to tranches of B mortgages. You can easily see that he captured his audience’s attention with this powerful prop. Of course, now he has a herculean task of trying to explain the complicated mortgage crises to his prospects.
Jared obviously understood that people are captivated by a stage prop or visual aid because it’s unexpected, surprising, exciting and different. His use of this technique shows that he comprehends that humans are largely visual creatures and that showing them something physical allows prospects to both see and touch, and it works magic in a sales presentation.
Visual Aids Help the Audience Understand
Now that Jared has captured his audience’s attention he now faces the daunting task of explaining the complicated mortgage crisis to his prospects. However, Jared continues to employ his visual aid to teach and demonstrate the problem with the CDOs and the looming financial Armageddon. In a bold gesture, he pulls the failed B and Double B mortgage Jenga pieces and throws them in the garbage can. Jared employed his visual artifice to quickly educate his prospects on both the problem and the opportunity.
Visual Aids Help the Audience Remember
It’s often said that an audience will remember less than 10% of a typical speech or sales presentation. However, if clever visual aids are utilized in a speech or sales presentation then it’s reported that an audience can remember as much as 65% of the material, weeks after hearing a talk. This is not hard to image as one of Jared’s last gestures was to pull enough Jenga pieces to cause the whole puzzle to come crashing down, which he did to represent the financial meltdown. The powerful effect this demonstration had was clear when you see Mark Baum’s reaction by asking, “what, is that?” Jared answers in a somber tone, “That’s America’s Housing Marketing”! Obviously, Jared’s well-orchestrated message delivered using a dramatic prop resonated in Mark Baum’s mind long after the presentation ended. Hearing that talk incited Mark to investigate the opportunity and ultimately bet on shorting the housing market with Jared’s Credit Default Swamps!
MSPs can benefit from implementing Jared’s sales strategy because like him they need to capture their prospects attention, explain a complicated solution and need their message to resonate. It’s clear from this clip that using a clever stage prop or visual aid can work wonders in capturing prospects visual interest. If you can work the visual aid into your entire message then it can be used to explain and demonstrate a key point. Finally, visual aids stick in your prospects mind as they play the visual images over and over in their brain. Ultimately, the skillful use of visual aids will cause your prospects to act! Your only problem now will be trying to find the perfect visual aid for your MSP sales presentation!
About our Contributor
David Walter is the Marketing Director at MSP SEO Factory, a company providing IT marketing to businesses in the United States. Their expertise is creating managed services marketing ideas and turning them into original, optimized blog posts. Their process involves in-depth brainstorming, thorough editing, and effective promotion of fresh and unique articles for their MSP Business clients.
He has 17 years experience in marketing for the IT industry, as well as experience in direct MSP marketing, internet marketing, article writing. David speaks at trade shows, webinars and is a sales trainer for major IT companies. He is also a published author; his latest book is ‘Stratospheric Marketing Secrets’.