Jonathan Farrington’s Blog

Networking effectiveness starts with a positive personal attitude and an understanding that successful networking is built on a spirit of giving and sharing and not of bargaining and keeping score.

Armed with this knowledge, we can now look at how the process of good sales networking actually works in practice.

The first thing to realise about networking is that everyone you meet is a useful prospective network contact. This seemingly simple fact is often overlooked, as people engage in their own private screening process before they will talk to anyone.

There is obviously a line to be drawn between talking to anyone and everyone in the street and talking to almost no one. However, if you want to network more and to do so successfully, there are many situations that qualify as “the right opportunity”.

Taking An Interest in Anybody & Everybody

It is often the case that we don’t really know very much about even close people around us (let alone distant contacts). Even if we do know a little, we are less likely to know how far or deep their skill, knowledge or resources extend. If this is true of your knowledge of others, how much do they really know about you?

Herein lays the basic secret of networking success:

• You have to become interested in anybody and everybody

• You have to share more about yourself than you may have done in the past

It is out this mutual exchange of knowledge that network contacts will connect and start to offer support, help, advice, favours, referrals and other benefits on a regular basis.

Core Processes

Developing a conscious understanding of this giving and sharing strategy can take some time and some practice.

In her book ‘How To Master Networking’, Robyn Henderson calls this process earning the right to ask a favour of another person, or giving without hooks. Both of these statements imply two processes that operate pretty much at the same time (and neither of them necessarily our first reaction).

The two processes in earning the right to ask a favour are:

• Giving away information (to be helpful)

• Being open for any help you may need

Let’s look at these two processes in turn.

Giving Away Information

Whether it is accidental or planned, formal or informal, random or structured, in discussion with other people the effective networker offers his or her knowledge, skills, ideas, resources, guidance or data freely – without any ‘hooks’ or expectations that repayment is due in any form. In fact, the only immediate benefit may be the pleasure to be derived from assisting someone with information that was of value to them.

Whilst the giver expects nothing in return, the receiver has a very positive experience and memory of you upon which they can act (if they so choose) in the future. If they do, either directly or indirectly, at some indeterminate time, you may receive some reciprocal benefit.

Along with openly offering any possible help and support, the effective networker does not operate as a one-way helper or super person/white knight/angel coming to the rescue of everyone else, but never personally in need of assistance. He or she also talks realistically about personal goals, tasks, challenges, problems and general issues, and acknowledges feeling vulnerable in not being able to do everything single-handedly. Being open means being receptive to help when it is offered and, on occasions, asking networking contacts if they can suggest ideas, strategies or approaches that could assist you.

Two-Way Process

These two processes operate at the same time and together to create a cycle through which ‘favours’ are continually offered to all who participate. These favours are both offered and taken in order to keep the network strong and capable of growing to include more and more people.

This process is called ‘reciprocity’. It simply means that effective networking is a coin with two sides rather than just one. You can’t have one without the other.

Successful networking is therefore about:

• Giving and receiving

• Contributing and accepting support

• Offering and requesting

• Promoting other’s needs and promoting your own needs

• Trust and persistence

My personal network expands almost on a daily basis, and is built upon strong ethical values, high integrity (It is difficult to network regularly with someone you do not trust) and a total commitment to the principles of ”win-win”

A valued friend recently asked me why I am so good at networking - it isn’t something I had considered to be a particular strength before, it comes naturally if you are interested in people - and having thought about the question for a while, I decided it was because I enjoy helping others, I enjoy giving pleasure, and that may well be the key.

On Christmas Day, do you enjoy unwrapping your own presents, or is it the pleasure you gain from watching your family/friends unwrap the gifts you have given them? Therein lies the key.

Today’s News: I finally connected with a really nice guy called Nigel Edelshain last week, another I have been meaning to catch up with for some time and it appears he had the same thought Anyway, Nigel hosts a great site and runs a company called Sales 2.0 and I urge you to pay him a visit here 

Tomorrow: On The JF Guest Author Spot, I welcome a very bright and switched on lady - Kendra Lee, who is making her debut. We were introduced via my “crazy” sister, Jill Konrath, who is extremely discerning with her introductions, so you should anticipate some very wise words.

I first began to recognise the need to be able to benchmark sales performance more objectively and more rigorously over twenty five years ago.

The motivation to do this was strong because I knew I was wasting thousands, if not hundreds of thousands of pounds on sales skills training programmes, which were not providing me with a proper return on my considerable investment. But I needed to prove my theory because without an accurate analysis of my requirements, I would continue to abdicate that responsibility to the training providers, most of whom had only their own interests at heart.

So with this quote from Drucker, “The most effective way to manage change is to create it” firmly in my mind, I set about my task, a task that became a journey, which began in 1981 and is still ongoing.

By taking an analytical approach, I arrived at the following equation:

Attitude + Skills + Process + Knowledge = Success.

My initial reasoning was this: Attitude is fundamental to any achievement because individuals with the right Attitude are far more likely to embrace the essential Skills, recognise the control that Process brings and have the desire to continually expand their Knowledge.

Skills are the ‘tools of the trade’ and have to be developed on an ongoing basis. They also need to be specific, because too much time can be wasted over-burdening employees with inappropriate and irrelevant skills without any identifiable plan for their future requirements.

Process brings organisation, efficiency and control, both for the individual and for management. Effective process provides objective analysis and indicators which can be benchmarked and accurately measured.

Then, there is of course a need to build in Knowledge and that must include knowledge of products, industry, market sectors, competitors, business, own company and last but not least, self!

So, there you have it - it really is as simple as that - Attitude + Skills + Process + Knowledge = Success.

Today’s News:

I  finally made contact with Krishna De this week, something I had been planning to do for quite a while after I noticed that we were “sitting” next to each other on last year’s Blogger 2K project. Krishna is a branding, marketing and leadership expert and a pretty amazing person - amongst other achievements, she was the first female and youngest ever member of the Guinness board. She has an excellent blog which you will find here and I am really looking forward to collaborating with her. 

The more observant of you will notice a new JF banner at the foot of this post - it is actually an avatar, designed by my good buddy Jeb Blount of Sales Gravy, and by clicking on it, you will arrive at my weekly Sales Leadership blog - cool stuff, eh?  

Tomorrow: I am busy preparing the first JF Journal, my monthly newsletter, packed with informative articles, interviews and business tips - if you haven’t subscribed yet, may I urge you to do so here - you will receive a FREE copy of my “Negotiating To Win” e-book, as a bonus

Wherever you are, have a great w/e and I will be with you again next week - JF

 The JF Guest Author Spot

Kim Duke

A few weeks ago I was in the back of a police car going to a meeting.

Yes - you read correctly!

Let me back up a moment. I was driving in my sassy little sports car to meet a client and suddenly…

WHAM!

..I was broadsided by a big truck as he tried to change lanes (without shoulder checking or using his mirrors) and he pushed my car into the turning lane.

It’s funny. As soon as my car was hit - I knew exactly what he had done. I tried to get out of the driver’s door (no luck - it was crushed) so I crawled out the passenger door (no skirt that day!) and had a look at the damage.

Oh yeah - it was bad - the entire left side of my car was crunched, and the back end was torn off. The other driver walked up to me and asked if I was OK - and he shakily said…

“I’m so sorry -I just didn’t see you”

To which I replied, “It’s OK - accidents happen.”

So What Does A Car Accident Have To Do With Sales?

Well - when the police officer offered to give me a ride somewhere - I said “That would be wonderful - can you drive me to Starbucks?” (this was where I was supposed to have met my client). I crawled into the backseat, stilettos and all, and enjoyed a ride right to the front door of Starbucks. (ask me how funny that must have looked!!)

I told the police officer as we were driving: “ I think I must be maturing - as I haven’t cried or sworn once!” She laughed and told me she had never seen someone so calm …and then she whispered “I’d cry if I had a hot car like that”

I realized that even though I was hit by another car, and it was going to be in the body shop for 2 months - I was OK. I wasn’t hurt and neither was the other guy. You just move to Plan B and move forward.

Have You Been Blind-Sided By Something Lately?

Maybe you’ve:

1. Lost a client - they went to a competitor.

2. Been stiffed on the bill.

3. Had someone steal all your money from your bank account (I know someone this happened to!)

4. Had a supplier/employee jump ship in the middle of a project

5. Your internet servers went down for a week

6. Had a large invoice come through and you don’t have the cash

Blah, Blah, Blah

We’ve all been there. Those sweaty armpits, heart pounding, dry mouth moments when you feel like Chicken Little and the sky is falling down.

But you’re not Chicken Little and you have a backbone not a wishbone!

My Weird and Unusual Tip For Selling?

Be flexible.

Yes - sometimes life wants to give you whip-lash. However, put your neck collar on and forge ahead.

Have a Plan B,C,D…..Z.

Breathe. And understand that most of what you’re freaking out about - is not worthy. You’ll figure everything out MUCH FASTER if you stay flexible, and keep your head about you (there’s a saying from my mom!)

So What About My Forgotten Client?

Well - as I made my grand entrance - there she was. Karen had stayed a little longer as she thought I was running late (no kidding) and we had a great meeting. She drove me to a rental spot. I rented the ONLY vehicle they had - a big mom-style soccer van…and I drove to meet my friend David for dinner.

At 3 pm I was getting crunched in a car accident and at 6 pm I was eating hummus.

I’m a lucky girl and so are you.

So there.

Love From Your Sales Diva,

Kim

Kim Duke, The Sales Diva, provides savvy, sassy sales training for women small biz owners and entrepreneurs. Kim works with clients internationally, showing them The Sales Diva secrets to success! Sign up for her saucy and smart FREE e-zine and receive her FREE Bonus Report “The 5 Biggest Sales Mistakes Women Make” at www.salesdivas.com

Today’s News: Over on Salesopedia, Rochelle Togo-Figa is in conversation with my buddy, Clayton Shold and the topic this week is closing sales - you can listen in here

Tomorrow: My winning sales formula

During negotiations, it can be in the interest of each side to keep asking questions and raising objections. Many excellent negotiators are low reactors who will proceed very slowly. However, given that the opening position of each party differs, then there has to be movement and concessions if a deal is to be struck.

Negotiators will tend at first to discuss extra demands, trying to get the other side to agree to these without offering anything in return. They will be reluctant to give information or will defer decisions in order to increase the pressure on the other person.

When an offer does come, it will often be on the basis of a quotation based on the minimum quantity at the lowest possible price. In all this, the negotiator is attempting to dominate the interview, pressing for maximum advantage, and trying to force the other person to concede on a major issue.

The skilled negotiator will ask the other side for a complete list of all his, or her requirements, and will not concede on a single issue until he knows the nature of the whole package. He will then begin to trade concessions, starting with the smaller, less important aspects of the package.

Negotiators should avoid making one-sided concessions which will severely weaken their final position and could affect the overall profitability of the deal.

When movement comes, it begins slowly, and then can be very rapid as both parties sense a deal is on the cards. Movement does tend to be discontinuous with either party moving and the other holding up the agreement at any one time. This leads to short periods of deadlock, which can be brought to an end in different ways.

Some of these are:

• Period of silence. Wait for the other party to speak.

• Agree to a concession. Always trade concessions by saying“If I do this, will you do that”?

• Adjournment to review positions.

• Agree to leave certain issues to one side for later and concentrate on the rest.

Identify areas of common agreement.

• The use of the relationship with the other side to break the deadlock.

Signals to be aware of that could mean the other side wishes movement to take place could include:

• Trial movement. One side uses words like “What would you say if …?” or uses hypothetical examples.

• Summarises the position to date and asks “Where do we go from here?”

• One side calls for adjournment.

• Appeals to the other side’s better nature.

• Asks for more information.

• Uses “crowding” techniques to force movement, e.g. aggressive behaviour, sets deadlines and time limits, threatens use of the competition.

The use of concessions is a vital part of building a profitable relationship for both parties in the negotiation. Earlier, we discussed the different elements that could constitute the final deal. The use of concessions enables negotiators to build a mutually profitable deal that is not one-sided in the other side’s favour i.e. It results in a “win-win” outcome.

And Finally – Bargaining:

When it comes to bargaining try to get the other side to commit themselves first. For example:

Scenario 1.

Buyer: “I’m willing to reach some sort of deal, but I want a 10% discount”.

Salesperson: “Okay, I’ll agree a 10% discount, but we’ll have to look at a longer-term agreement”.

Buyer: “Well, thanks for the 10% but the one year contract we have already agreed will have to stand”.

Scenario 2.

Buyer: “I’m willing to reach some sort of deal, but I want a 10% discount”.

Salesperson: “Okay, we may be able to look at our discount structure, but to do that we’ll need to agree a two year contract”.

Buyer: “Okay, well two years may be possible, but can we go to the full 10%?”

In the first scenario an offer of 10% was made, but what was asked for was vague. Responding to a specific demand like this we need to be vague, but positive: “Okay, we may be able to look at our discount structure”. and our counter demand needs to be specific: “But to do that we’ll need to agree a 2 year contract“

Remember, when you bargain, offer vague but always ask specific.

Today’s News: If you are on LinkedIn, you will want to read a free e-book from my “crazy sister“, Jill Konrath - it is superb advice on how to make the most of your presence. I will make it available here next week, but in the meantime not too many speakers make it on the cover (by themselves) of National Speaker’s Association (NSA) magazine during the course of the year, but Jill has- so it’s really a big deal. She is not unaturally, pretty excited about it - me too:-)

You can download it here: http://download.yousendit.com/5E885E9878CEC60B

NB: It’s only there for 7 days, so download it right away. You can read it anytime.(That’s a suggestion, not an order!)

Tomorrow: The irrepressible, Sales Diva herself, Kim Duke returns on the JF Guest Author Spot, so expect something completely different!

 The JF Guest Author Spot

Tim Wackel
I always get a big chuckle when sales people call my office to prospect for new business. I’m amazed at the fundamental lack of research, amused by their haphazard preparation and surprised that they actually believe their approach has any chance of working.

Here are a couple of actual winners I’ve recently received. The voicemails you are about to read are real. The names have been changed to protect the guilty. See what you think:

“Hi, this is Ken with Hopeless Inc. We purchase used office telephone equipment and PC’s. Our number is               214.555.1212  If you’ve recently switched systems or plan to in the near future please give us a call at               214.555.1212“ 

Not much of a compelling reason to return this voicemail. What is the potential value in doing business with Hopeless Inc.? It looks like the classic numbers game…make enough calls and eventually you find someone who has just “switched systems” and wants to get rid of the junk sitting in the closet. I couldn’t do that for a living, and I’m glad I don’t have to!

Here’s another example. Maybe it looks familiar to you.

“Good morning Kim, this is Barbie with Clueless. We produce the business to business database called Insight Online. I’m following up on your email inquiry to see if you have any questions about our product. Please give me a call at your convenience. My number is  888.555.1212  extension 1234.”

Well for starters my name isn’t Kim. Yes, I did make an email inquiry, and I’m pretty confident that I didn’t misspell my name on their form. Barbie says she wants to see if I have any questions on their product. Maybe it’s just me, but if I had a question I’m thinking I would pick up the phone and call them. What if Barbie was calling because she had ideas to share on how Insight Online has helped other sales speakers improve their business? Think I would return that call? You better believe it!

So what does it take to craft a better voicemail message? How can you improve your odds of getting a call back? Here are five questions that will help you start creating better messages now…

#1. Who is your target market?

Specifically, what is the title of the decision maker you want to do business with? And, if you are leaving a voicemail message for me, I want to hear that you work with professional sales trainers and speakers. I’m not interested in a one-size-fits-all approach. I’m interested in talking with someone who knows something about what I do (that’s why it’s called research!).

 #2. What are some of the specific challenges that you solve? What are some opportunities that you help create?

Be as specific as possible. This is the classic pains & gains stuff. Re-visit these ideas often… that is why they are called classics!

 #3. What emotions (frustration, disappointment, concern, optimism, hope) does your target market experience with the challenges and opportunities you outlined above?

Remember that emotion plays a big part in buying decisions, yet most of you sell using too much logic. Ever see someone driving a Lexus or wearing a Rolex? Help me understand the logic behind those decisions.

#4. What are some of the competitive alternatives available to your target market?

Yeah, I hear you screaming “never bring up the competition!” Do you really believe your prospect is only going to consider you without checking out someone else? Think again! And remember, doing nothing is a competitive alternative.

#5. Why, based on all of the alternatives available, should they do business with you?

What are your compelling differentiators? Be careful here, because most of you are thinking “great products, awesome service, solid reputation and a competitive price.” If most of you are thinking this, then it really isn’t a compelling differentiator… is it?

Now just plug and play!

Fill in the blanks, read, revise, get feedback from your peers and you will have crafted a message that is purposeful, powerful and on target.

“I specialize in helping (target market) who are (feelings/emotions) with (specific challenges) and want proven solutions for (your specific benefits). (Quantify number or use names) of clients have already discovered that unlike (competitive alternative), my solution is/does (compelling differentiator).

My goal is not to make a sales call on you, but if these issues sound familiar and the benefits are important to you, then it might be worth ten minutes for us to have a brief fact finding conversation.”

I can’t guarantee that this process will work for you, but I can guarantee that it works. I’m hoping you will take some time to review and improve your current library of voice mail scripts. If you aren’t getting all the callbacks you want, you don’t have much to lose!

Speaking of Sales is about finding, winning and keeping customers for life. If that’s part of your job, then you won’t want to miss the next issue.

Until then,

Tim

Tim Wackel is one of today’s most popular business speakers who has mastered the ability to make information entertaining, memorable and easy to understand. He combines more than 20 years of successful sales leadership with specific client research to deliver high-impact programs that go beyond today’s best practices. Tim’s keynotes and workshops are insightful, engaging and focused on providing real world success strategies that audiences can (and will!) implement right away. http://www.timwackel.com/index.aspx

Today’s News:

My good friend Diane Helbig, is marching for Breast Cancer - if you can make a donation or better still, walk with her, details are here - I will be with her in spirit all the way.

Tomorrow: Some really useable advice about negotiating concessions and bargaining.

“The Lone Ranger is dead. Instead of the individual problem-solver, we have a new model for creative achievement. People like Steve Jobs or Walt Disney headed groups and found their own greatness in them”.

Professor Warren Bennis, Distinguished Professor of Business Administration, Marshall School of Business, USC,  provides a blueprint for the new model leader. “He or she is a pragmatic dreamer, a person with an original but attainable vision. Inevitably, the leader has to invent a style that suits the group. The standard models, especially command and control, simply don’t work. The heads of groups have to act decisively, but never arbitrarily. They have to make decisions without limiting the perceived autonomy of the other participants. Devising an atmosphere in which others can put a dent in the universe is the leader’s creative act”.

However, the role of the new model leader is ridden with contradictions. Paradox and uncertainty are increasingly at the heart of leading organisations. A lot of leaders don’t like ambiguity so they try to shape the environment to resolve the ambiguity. This might involve collecting more data or narrowing things down. These may not be the best things to do. The most effective leaders are flexible, responsive to new situations. If they are adept at hard skills, they surround themselves with people who are proficient with soft skills. They strike a balance.

While flexibility is important in this new leadership model, it should not be interpreted as weakness. The two most lauded corporate chiefs of the past decade, Percy Barnevik of Asea Brown Boveri, and Jack Welch of General Electric, dismantled bureaucratic structures using both soft and hard skills. They coach and cajole as well as command and control. The “leader as coach” is yet another phrase more often seen in business books than in the real world. Acting as a coach to a colleague is not something that comes easily to many executives. It is increasingly common for executives to need mentoring. They need to talk through decisions and to think through the impact of their behaviour on others in the organisation.

In the macho era, support was for failures, but now there is a growing realisation that leaders are human after all, and that leadership is as much a human art as a rational science. Today’s leaders don’t follow rigid role models but prefer to nurture their own leadership style. They do not do people’s jobs for them or put their faith in developing a personality cult. They regard leadership as drawing people and disparate parts of the organisation together in ways that makes individuals and the organisation more effective.

Today’s News: 

I have just accepted an invitation to be an author with CanDoGo - they are collecting together a very impressive line-up of sales experts- “CanDoGoTM has amassed exclusive knowledge content from some of the world’s best sales and motivational speakers and subject matter experts. We have converted their libraries of information to fit the needs of the modern knowledge economy — to provide you with instant, easily attainable answers.”

It is a fantastic concept and if you are not familiar with it yet, you should check it out here 

Tomorrow: On the JF Guest Author Spot - “At the Sound of the Beep… the Basics of Leaving a Voicemail” a very quirky piece from Tim Wackel

In these days of having to achieve more with fewer resources, it’s easy to neglect the skill of delegation.

Why delegate?

• To give you more time to do important activities.

• To develop and motivate staff.

• Because others may be more skilled than you.

What stops you?

• Unable or unwilling to let go.

• Don’t want to; like to give the impression of being overworked.

• Fear others will make mistakes and show you up.

• Enjoy doing the job; love to get your hands ‘dirty’.

• It takes time; it’s often easier to do it yourself.

Should You Delegate More?: The Acid Test

Do you work longer hours than those around you?

Do you spend some of your working time doing things for others that they could do for themselves?

Do you have unfinished jobs accumulating or difficulty meeting deadlines?

Do you spend more time working on details than on planning and supervising?

Do you work at details because you enjoy them, when someone else could do them just as well?

Do you lack confidence in others’ abilities so that you are afraid to let them take on more responsibility?

If you answered ‘yes’ to any of those questions, then you may want to take note of the following advice.

What To Delegate:

Yes:

• Routine tasks and the associated decision-making

• Complete jobs to give a sense of achievement

• Tasks that others could do better and possibly less expensively

No:

• Ultimate responsibility for the task

• Tasks without guidance

• Unpleasant tasks which are really your responsibility

Do Remember:

Delegation means giving people the freedom and authority to handle jobs on their own initiative together with the confidence to succeed

How To Delegate:

• Make a list of what could be delegated.

• Select people who are capable, willing and interested.

• Explain reasons why and the results expected.

• Let go of authority but maintain responsibility.

• Let staff establish their priorities; you fix deadlines.

• Follow up on the task.

• Be available for help when needed but don’t spy.

• Be prepared to invest time early on explaining /coaching; it will pay off in the end.

• Demand finished work; don’t accept problems but do accept suggestions for. solution

• Always give credit for good work.

Remember – intelligent people learn from their mistakes.

Do You Procrastinate?

• Are you in the habit of putting jobs off?

• These could be:

• The boring or routine tasks that no longer challenge you

• The difficult phone call or decision that needs to be made

• A new job or project where you’re unsure where to start

• Facing up to the individual who is making life difficult for you

You know these jobs have to be done. Whilst recognising that it sometimes pays to delay and weigh up the options, it’s amazing how much time, energy and creative thought goes into putting jobs off.

TIP: Ask yourself what you are avoiding doing at the moment.

Procrastination – What To Do:

• Do something (anything) to make a start; associate the pleasure you would gain from doing the job

• If it’s a big job or project do a little each day

• If it involves some form of creativity, do it when you are at the most energetic

• If it is a boring job, do it when you are at you least energetic

• Reward yourself at the end

• Get out of the habit of putting things off; problems are easier to handle when they’re small

TIP: Study your ‘To Do’ list and tackle the worst thing on it – you’ll
    feel so much better afterwards!

Today’s News: Earlier in the week, I did promise you a great interview with Anita Sirianni on prospecting, over at Salesopedia - you can catch it here

Tomorrow: Well, in many parts of the world it is Easter, so wherever you are, have a great w/e and I will be back here for you on Monday - JF

The JF Guest Author Spot

Many sales reps today rely to heavily on ROI based selling. The concept being that if one can show a company or individual a return on their invested dollars within a reasonable time frame, there should be no reason why an average sane buyer would not buy what they are selling.

However, all too often these ROI calculation is too vendor centric, and fail to engage the prospect. The result is a mathematically sound calculation, but as is the case with marketing crafted “value propositions”, they speak to the vendors’ view of the market, and their need to derive revenue from the market. They do not speak to the clients’ agenda, or move it forward, nor do they deliver value to the prospect. This type of self-serving mathematical validation ends up turning prospects off and either lengthens the sales cycle, or worse kills the sale. Again, although the typical ROI sale is rational, intellectually sound, it usually lacks the teeth to grab the customer and create either real interest or action on the part of the prospect.

This can easily be demonstrated with a specific real life example. A company I worked with had a fairly robust offering around content, content delivery and content management. Using their systems, indexing, and approach to content management they were able to deliver “relevant” content to the desktops of users “faster” and more “efficiently”. For the longest time they have sold based on an ROI with single premise originating from a claim found in an industry commissioned white paper (paraphrasing):

“The typical corporate employee spends over two hours a day searching for information”

Once they got a prospect to accept the above as “fact”, the ROI was that if they could cut down the “search time”, save each employee say 2 hours of “searching” a week, times the number of employees, time the cost per hour, times the days worked in a year, well, you’d pay for the system in no time. In fact the more you bought, the more you’d save, the quicker and the bigger the ROI. Now this company is not the only one that goes down this path, a bunch of “solution” providers do.

The maths works,

We, and as it seems many prospects, see this as flawed, and therefore not only reject the ROI proposition, but often the company and the reps presenting it; and in sales rejection is not the goal.

A solution with a price tag of $350,000, four month pay back, an ROI of 212%! Wow where do I get one?

It was amusing to watch the face of a senior executive when she was asked by a prospect CIO how she and her company can assure him that the “reclaimed time” potentially realized by their “corporate employees” would actually be put back into productive use for the company. How could he be assured that they would not go for a cigarette or surf the web.

The problem was that the ROI only related to the seller’s reality and needs. A real ROI starts and ends with the prospects view of what makes sense.

A real ROI, one with teeth, calculates a return on the clients’ objectives; measures pay back based on specific impact of changes in the clients’ interactions with their customers, speed of fulfillment, customer service response time, reduced costs, better response time, and/or increased production. All of these are real measures. All presumably identified through a process of discovery and identified by the client as not only their objective but important enough for them to want to make an investment, or just a change.

This is not to say that as sales people we can not get prospects to focus on, and buy things they did not have in mind before we engaged. By helping them discover that our product or service could in fact help them attain their goals, avoid risk, improve margins, expand markets, improve their image, and a number of other things important to them at the time. We then have to help them understand and buy in to the impact of our offering by utilizing an ROI validating their decision and creating urgency on their part to act.

As an example, when I meet with a client and we begin to discuss the quality of their sales team’s forecast, (It is worth noting that I read a study that stated the average accuracy of sales forecasts in North America is 53%), it becomes clear that the team’s inability to forecast accurately is creating havoc on the production side of the company and his margins. With better forecasting he could better predict production cycles, timing of his purchase of raw materials, ship the finished product, he could negotiate better deals with various supplier thought the whole chain. With that on the table we can begin to quantify his current costs, his potential savings and the impact for each percentage of improved forecast accuracy. Now we can have a real discussion about the real returns he could realize for every dollar he invests with us. As an added bonus to the above issue, his reps also sell better while they learn to forecast more accurately.

No BS, no Magic, just a real return based on the clients’ realities, not ours. Sure it takes a bit of effort, but it makes for a more solid sales and a more real calculation. The reality of the other type of calculation, the ones that try to rationalize the investment based on vendors’ or highly general factors, is that they really are a thinly veiled product dump. Fresh, cute, but still a dump, one that hopes that the prospects get so caught up in the numbers that they end up buying. The fact is that sometimes they do, that’s why people use it. But prospects catch on, and see that type of ROI has no teeth.

Tibor Shanto has over 20 years of sales, executive, leadership and sales operations experience in financial, information, content management and professional service industries. Prior to Renbor, Tibor Shanto spent 10 years with Dow Jones, including 5 with its subsidiary Factiva. After opening their Canadian office and building a solid team and revenue base with double digit CAGR, Mr. Shanto was appointed Sales Director for Canada and The Central USA; before leaving he also headed their Global Client Solutions organization.

As Principal of Renbor Sales Solutions Inc., Tibor works with leading corporations in Canada, USA and the UK, helping these organizations realize sustained revenue attainment through improvement in sales strategy and execution.

Join the Renbor Sales Solutions Group on LinkedIn

Tibor Shanto tibor.shanto@sellbetter.ca
Principal, Renbor Sales Solutions Inc.
Tibor’s Blog
416 61-3555

Today’s News: I had a very long and immensely enjoyable conversation with my friend Joanne Black yesterday and she made so many interesting observations about the global economy - she really is so tuned in to what senior American commentators are predicting and, not unaturally, she has her own views, which you can listen to for free in an upcoming webcast. Here are the details:

“You can’t pick up a newspaper or magazine, listen to the radio, or view a news webpage without reading about the tribulations in the U.S. economy. It’s one piece of bad news after the next.

We need to talk-voice-to-voice-about what’s going on in our businesses and share ideas for getting through this messy time. Maybe your business is soaring! That’s terrific. How can we learn from you? Are you struggling? Let’s hear you and see if we can help.”

EVENT: Black’s Chat: The Economy & Your Business
DATE & TIME: Thursday, March 20th at 8:00 am Pacific
FORMAT: Simulcast! (Attend via Phone or Webcast — it’s your choice)

TO ATTEND THIS EVENT, CLICK THIS LINK NOW…
http://instantTeleseminar.com/?eventid=2307972

“I’m concerned. In the past few weeks, I’ve seen the “trickle-down” effect from larger economic issues.

I get concerned when I hear:

- a dressmaker say that people are altering their clothes rather than having clothes made

- a caterer who says her business is stagnant

- a consulting firm CEO who says he will be thrilled if his business is the same or even 10 percent less than last year

- an advertising executive who says that clients have cut ad budgets in half

Let’s talk. I’ve scheduled a FREE 30 minute Black’s Chat webcast on Thursday, March 20th from 8:00-8:30 a.m. PDT. I’ll bring a few tips of my own, but the focus is on you. Bring your concerns, insights, advice to the phone. It’s just 30 minutes, because none of us has a lot of time. If we can’t gain some insight in 30 minutes, we’re in the wrong place.

I want us to take action. In my last newsletter on Recession-Proof Selling, I shared this thought:

“Many people think that since there’s nothing they can do, they should just do nothing. But “nothing” is futile thinking.”

Make time in your day to talk and to succeed.
Sign up for the webcast: The Economy & Your Business

http://instantTeleseminar.com/?eventid=2307972

Joanne Black, if you needed any reminding, is America’s leading authority on referral selling and the author of the mega-selling “No More Cold Calling”

Tomorrow: Do you think that delegation is something that travels downwards? Wrong! I will be demonstrating how effective delegation really can affect your overall efficiency.

I dedicate today’s post to the three major organisations who last week provided ample proof - not that I needed any - that in terms of customer care, the UK has slumped to new levels of ineptness and incompetence, and is now only slightly ahead of France. Gone apparently, are the days when the customer is King - now the customer is barely a pauper; short-term profit is the driver and ensuring that the customer experience is as impersonal, uncomfortable and as frustrating as possible, the primary objectives. 

Directors and Management often see customer relations as the affair of a ‘Complaints Department’ whilst they get on and run the business - which is a form of warfare carried out against the irritating habits of customers seeking fair treatment, a fair deal or equality of relationship.

Salespeople often see customers as an unruly, disobliging and dishonest source of commission.

Support staff accept that they are paid to (try to) cope (on a good day) with unreasonable, whinging, stupid, ungrateful customers who just will not be told.

Administrators see customers as dunces who must be forced to follow the rigid procedures developed for the convenience of the supplier (an endless nuisance to the customer).

Technical people often see customers as stick-in-the-mud know nothings to be loftily put in their place by the use of elitist techno-jargon.

Production people ignore customers entirely because otherwise they would get in the way of how they want to run the place.

Finance people treat customers not as people but as reference numbers with obligations required to fit processes.

Unkind comments? Not at your place? Great! But anti-attitudes like this abound right across the commercial spectrum. You transact business with your customers — not despite them! Customers pay the wages for everyone, not just the salesforce.

There is always a penalty for poor customer relations. It plays its way out over the weeks and months ahead when people - and those they influence - simply avoid your firm, as those three organisations who abused my trust last week, are about to find out. 

Today’s News:  

 On March 27th, London Heathrow Terminal 5 will welcome the first British Airways passengers through its doors. It’s the culmination of an amazing project that began with one thought – to make connecting the world simple and pleasurable again. The result is a seamless and upgraded airport experience unlike any other in the world, and one that’s exclusively for British Airways passengers.

In their own words:

“At Terminal 5 we’re putting the joy back into air travel, especially for you, the British Airways traveller.
That doesn’t just mean smoother check-in, fewer queues and less waiting around. It doesn’t just mean more time for fun things like eating, shopping or relaxing. Nor does it just mean an inspiring, state-of-the-art building that could be a destination in itself.

It means giving you an outstanding experience from the moment you check in online to the moment you step through the door at your journey’s end.” 

Amazing experiences begin at Terminal 5:

Here are a few of the Terminal 5 features that make them justifiably proud:

• The £4.3 billion building is so light, modern and spacious that it’s hard to believe it’s an airport terminal at all

• Terminal 5 offers seamless check-in, with 96 Check-in Kiosks designed to eliminate queuing

• The floor to ceiling windows give outstanding views of the runways, aircraft, countryside and even Windsor Castle and Wembley Stadium

• There will be huge improvements in punctuality and baggage now that they’ve brought nearly all British Airways flights together in one terminal

• The state-of-the-art baggage system has been designed specifically for Terminal 5 using proven technology already in use at a number of global airports

• They’ve got the largest, and possibly the most luxurious, airline lounge complex in the world, large enough to cater for 2,500 passengers

• Harrods, Coach and Prada as well as great British names such as Paul Smith, Ted Baker and Reiss are all opening stores at Terminal 5

In a word - incredible!

My thanks to my friend Claudio - known as the “BA Terminal 5 Insider” for keeping me fully updated these past few months and for sharing a raft of information and images, which has allowed me to feel part of this exciting initiative. Claudio works for one of the top PR agencies in the world, known simply as Agency.com - they have certainly done an amazing job

Here are some links, so that you can have an early preview yourself:

Take a look round T5 

Wine Galleries

Tech Room

Concorde Bar

Kitchens

Cinema

You can also see an excellent interview with a very proud Willy Walsh - CEO of British Airways - here 

What we can say for certain is that BA understand that when it comes to customer service - everyone must play a part.

Tomorrow: On the JF Guest Author Spot - Tibor Shanto makes a debut appearance.

The JF Guest Author Spot

You have just been asked to give a 30-45 minute speech at a conference and there is absolutely no time to put visuals together for it.  You’re on a sales call and your PPT presentation dies on you.  You are having lunch with a client and it would be inappropriate to pull out any marketing materials.  In all three scenarios, you’re panicked at the thought of boring these people to death with just your information.

Where can you turn for help?

WORD PICTURES to the rescue!

Word Pictures are words that create images in your listener’s mind.  They add color, life, interest and meaning to your information that would otherwise have been provided by actual visuals. They help listeners see, feel, understand, and retain your information.  Used artfully, they make complex information simple and simple information meaningful.  Spice up your information with a liberal use of the four techniques below. 

TIP: It is generally a good idea to have at lease one vivid WORD PICTURE for every different piece of information you present.

1. Show with Examples & Stories.
A. “We have over 200 clients, such as IBM and GTE.”
B. “Let me tell you what we did for IBM...”

2. Dramatize Points with Comparisons (Metaphors & Analogies)*
A. “We need to implement system X.  Otherwise, we are going to wind up being roadkill on today’s superinformation highway.”
B. “Entering this market will make us the big fish in the little pond.”
C. “Cutting training when business is down is like stopping baseball practice when the team is losing, a foolish strategy in both cases.”

Years ago, I used an analogy to compete for and win the Presentation Skills training business of a leading ad agency in New York.  I was up against every major firm and consultant in the city, including one who specialized in presentations work with agencies.  When confronted with the fact that I had no ad agency in my client base, I responded, “That is correct. However, you just won the DHL (the overnight courier) account.  How much overnight courier experience did you need to have to have the right to do their advertising?  Let me suggest, none.  You would learn the dynamics of their business the way you have of all your other accounts in the insurance and beer industries.  DHL just had to be sure you were the best ad agency for them. Isn’t that right? (“True,” replied the Executive Vice President).  “The same is true with me.” I continued.  “I will quickly learn the dynamics of your ad agency the way I have learned the dynamics of my other clients in the aerospace, investment banking, and consulting worlds.  You just need to be sure I know everything about presenting. And I do.” (the last three words said staring into her eyes).  As the truth of what I said dawned on her, all the EVP could manage to say was, “Oh.”  I won the business and went on to earn many thousands of dollars from them over the next several years.—all because of this carefully thought out analogy to their business.

3. Translate Abstract Numbers into ConcreteTerms
Numbers are meaningless abstractions. They only have impact when compared to something else familiar to your listener — another number, an equivalent amount of time or resources, or another known situation from your listener’s experience. For example…
A. “It costs $925, half the cost of last year’s event.”
B. “We’re talking a billion dollars — enough money to operate every school in America for five hours.”
C. “The ideal consumer has a $50,000 household income, a house valued at $350,000, and an annual clothing budget of $10,000. We are talking the Bloomingdale’s shopper here, not the K-Mart shopper.”

4. Bring in Quotations & Testimonials
Quotations from people or sources known to listener’s increase the credibility of your information, because they validate what you are saying.
A. “GE’s….division said our system increased its sales by 15%.”
B. “You ask, is a team building program necessary? As John D. Rockefeller said, ‘I will pay more for the ability to get along with people than for any other ability.’ And he knew something about business sucess! So, yes, this program is essential for our growth.”
C. “‘Automobile’ rated XYZ car #1 in its class for the last three years, so you are definitely getting real value for your investment.”

WORD PICTURES IN ACTION
Pretend you are an Event planner, responsible for your firm’s annual meeting. Below are statements from a Resort Sales Director who wants your business. Compare the persuasion power of the facts presented below with and without the use of word pictures.

1. We offer many activities for your group to enjoy.
1A. We offer many activities for your group, including tennis, golf, fly fishing, soaring, hiking and biking–something for everyone to enjoy.

2. We are able to respond to all emergencies quickly.
2A. We are able to respond to all emergencies quickly. For example, last week we helped a speaker who had an allergy attack the night before his talk. We reached his doctor in his home city. We filled his prescription at midnight and the next morning, the recovered speaker was able to present his seminar as scheduled — to the eternal relief of the Event Planner!

3. Bruce Jones will handle your account. He is very creative and very careful.
3A. Bruce Jones will handle your account. He is the Steven Spielberg and Martha Stewart respectively of creativity and attention to detail.

SUMMARY
With or without actual visuals, WORD PICTURES are a necessary part of any presentation. They engage the mind. They strike a cord in listener’s hearts. And they ignite your audience’s imagination. As one of my clients said, “Trying to sell without using images is like running a marathon barefoot.  It can be done, but not very well and not without a certain amount of pain.”

c. 2008 Anne Miller.  

Anne Miller, sales and presentations consultant, is the author of “Metaphorically Selling.”  She works with high profile firms like The Blackstone Group, Yahoo! and Time, Inc. to help them sell products and services worth millions of dollars of business.  Her free newsletter is available at www.annemiller.com  Contact: amiller@annemiller.com 212 876 1875

Today’s News: I read some interesting facts over the w/e and one of them was that 56% of all sales forecasts in the USA are hopelessly inaccurate and unachievable. Do we assume that Americans are unrealistic and the rest of the world are far more rigorous? Hardly! I can be absolutely certain that this is just as true for sales teams based in Europe, Asia and every other continent.

I work with my clients to develop process tools that are wholly appropriate for their specific sales force, industry, sector and circumstances, but it takes time.

However, if you are looking for a better way to improve your forecasting accuracy you should tune in to the work that my good friend Kevin Dwyer is doing over at the Change Factory - by subscribing to his superb Winds Of Change weekly newsletter, you will gain access to some very innovative and pioneering work.

The hot topic over at Salesopedia this week is “Sales Prospecting” and there are some excellent articles, including the highlight “Searching Customers With Style, Strategy And Speed” by Anita Sirianni You can hear her in conversation with Clayton Shold later in the week here. Can’t wait? OK, go here

Tomorrow: Customer care levels have, in my opinion, hit an all time low - how does your organisation measure up? Is everyone in your company really tuned in to the value of building brick walls around your existing client base, or is that something that is left to a small number of individuals, whilst the rest of you go about your own tasks?