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Archive for the 'Business Development' Category

Nov 14 2008

The One Constant That We Can Rely On – Change

 

“It is not the strongest of the species that survive, not the most intelligent, but the ones most responsive to change” – Charles Darwin

Whatever got you where you are today will not be sufficient to keep you there. A rapidly changing environment is the regular background against which organisations must develop.

Change is continuous and will become more rapid as we move forward over time. Senior management must be capable of reacting to those changes and be prepared to take advantage of them and yet stay within the overall framework and agreed strategy.

The role of strategy is fundamental if the people within an organisation are to be enabled to make the level of contribution of which they are capable. Strategy, based on a good grasp of the core competencies of a business, is an essential precursor to achieving optimal shareholder value.

Dependence on salespeople is key to delivering the latent capability of a business. Our salespeople are the greatest source of competitive advantage we have and that is precisely why we should continue to invest in them and fully develop them. This is particularly true now that in most market sectors competitive advantage is continually being eroded – i.e. International barriers are coming down, selling time is becoming limited, competitors are getting smarter, fewer and fewer names are appearing on companies’ databases, and product uniqueness is rare. Conversely, undeveloped personnel can bring down a company through inadequate performance, leaving the competition to harvest the marketplace.

If your organisation wants to permanently increase it’s sales results then it needs to approach sales differently to create “the difference that makes the difference” in order to positively impact bottom line performance.

In Summary:
Organisations and salespeople who have 100% commitment to doing whatever it takes to elevate their sales to a whole new level are the ones most likely to succeed. Trying to operate a sales organisation without total commitment is like trying to drive a car without fuel. But every organisation has the potential to harness the power of their salespeople just as surely as oxygen pumps life into the human body.

Today’s News: Is scant, due to the fact that I am with clients, but there will be lots on Monday.

Tomorrow: However, JF Uncut will be here tomorrow – ever heard of George Thorogood? “One Man’s Dream And Another Man’s Dream”

 

 

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Nov 05 2008

Two Steps That Will Get You To “Yes, I’ll Buy” More Easily

 

Closing a sale has always been the most difficult stage for inexperienced sales professionals – this is usually down to a lack of confidence and the fear of rejection. Here is some advice that will get you to those three magical words: “Yes, I’ll buy” – more easily.

Unless the person you are influencing offers an unconditional yes to your proposals you will need to do or say something that will generate a positive decision.

Here are two steps you can take towards getting a decision:

Step One:
. Ask yourself ‘How does this person normally go about making decisions?’ Most people usually have a preferred way of making up their mind. Some people take their time to decide, others are happy to make snap decisions. You can sometimes push the latter, but will need to tread more carefully with the former.

Step Two:
. Have a variety of ways in which you can stimulate a decision.

Spot The Signals – Verbal And Non-Verbal

Knowing when to ask for a decision can be critical. Ask too soon and you may frighten the other person off. Ask too late and you may miss your best chance. Watch for signals that suggest the other person is ready to decide:

• Leaning forward, seeming more interested and involved
• Head up, good eye contact
• Stoking chin thoughtfully
• Nodding or smiling in agreement with you
• Upward infection in voice tone
• Requesting more information
• Asking you to repeat some points you made earlier
• Making notes
• Asking ‘What if …’ or ‘Suppose …’ questions
• Checking guarantees, support, follow-up plans
• Picking up your written proposal and double checking aspects
• Discussing implementation details

Dealing With Ditherers

A good way of avoiding a decision is to say ‘I want to think about it.’

Sometimes people do want time to think things through. But, very often, this can be an excuse or a put-off.

Ask:
• ‘What exactly do you want to think through? (Whatever you do – don’t pause here!) Is it the implementation schedule? Is the bottom line? Is it the timing?’

Once you have isolated the real reason, you are much better placed to respond to the objection.

Going For “Yes”

• ‘If you agree, shall we go ahead right away?’

Its very directness appeals to the Driver or Expressive personalities.

If the answer is “no”, ask : ‘What’s preventing you from going ahead?’

The Alternative Choice Question

This is less direct because you enable people to make a choice between two possible options.

• ‘When would you like to start – Friday or shall we wait until Monday?’
• ‘Which of these two do you prefer?’
• ‘Which support contract is most appropriate for you – this one, or that one?’

The Minor Decision

Here, you ask people to make a decision about a relatively unimportant aspect of the proposal. If they give the go-ahead, the assumption is that they agree to the whole idea.

• ‘Where do you want your logo to appear – at the top of the form or do you think it would look better in the bottom right hand corner?’
• ‘By the way, how do you intend to resource the project?’
• ‘How should we deal with the Southern branches?’

The Assumptive Question/Statement

This question/statement works well with Amiables and Expressives, both of whom need a continuous nudge towards decisions. (Be careful with Analyticals  who dislikes presumption.)

• ‘After we start, I assume you’ll want a monthly update?’
• ‘You’ll notice significant improvements immediately after we start.’

And Finally: The Benefit Summary

Some people like to hear a review of the benefits they will receive if they agree to your ideas. A quick list followed by a decision question often does the trick.

• ‘Ok – let’s summarise. After we’ve made the alterations you will notice that you have extra time available for other things, you’ll start to save on budget and you’ll have a happier work force. So, shall we go ahead?’

Please note: To understand and read more about the four personality types mentioned in this article, go here:  “How To Relate To And Influence The Four Personality Types

 

Today’s News: Well done America – thank God for sense and sensibility! Be assured that if Europe had been allowed to vote, it really would have been a landslide. Now we can get some sleep.

Just seven days to go, and there are still places left - we anticipate more than 500 front-line sales professionals will be registering – so do reserve your FREE place today and take part in this innovative and highly relevant event – it’s for YOU – just click on the banner below.

 

Over at Business Expert Webinars, the very bright Terri Dunevant is presenting:

The Staircase Principle Applied to the Salesperson
11/5/08 5:30pm EASTERN TIME
Details Here

Tomorrow: On The JF Guest Author Spot, is the man himself, Jeffrey Gitomer

 

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Oct 23 2008

The Product Doesn’t Matter!

The JF Guest Author Spot

Dan Adams

Q:    Dan:  When I joined my company several years ago we had the luxury of having a new family of products that were superior compared to our competitors’ solutions. Now that the competition has announced new products it is  harder to win deals. I’m having trouble convincing our marketing department to accelerate new product launches.  Any thoughts to help me to hold my market share until our new products arrive?

Lucy Watt
Phoenix, AZ

A: 
Lucy, Thanks for your great question. Your situation is not uncommon. To solve the problem and help you on your path to superstardom let’s try to see the world differently. Here is the key:

The Product Doesn’t Matter!

True or false: A sales rep’s success is tied directly to the quality of the product or solution she is offering. As a buyer visiting car dealerships, you may have thought you were comparing car A with car B. But actually, what you were really comparing was sales rep A with sales rep B. That’s what happens in customers’ minds.

The sales rep acts as the intermediary between the customer and the product or service, greatly influencing how people buy. The customer bases his decision, for the most part, on the actions of this intermediary (that is, if the sales rep is a superstar). After all, a car is a car is a car. Any of them will get you where you want to go.

Yes, the sales rep does have to have a decent product. But in most cases the solutions are very similar, and it’s the rep who makes the difference. The rep enjoys a position between the product and the customer’s perception of that product. It is the sales rep who can make that product look worse than, equal to, or better than the competitor’s product. Superstars know that the difference between the products is really the difference that the superstar brings to the table in the form of consultative selling skills. Superstars differentiate themselves not by what they sell but by how they sell.

If the sales rep is not a superstar, then the customer makes the decision based on price and features. With no superstar rep in the picture, the customer’s decision is easy: Buy the one with the lowest price. One thing that drew me to sales training was realizing the difference a great rep can make to a company. We’ve all had a chance to observe this. Consider what happens to a company when one of its superstars leaves a territory – sales drop almost immediately. The converse is true when an experienced consultant is placed in a new territory – sales immediately increase. What changed? Has the company drastically reduced price, changed its marketing strategy, or announced a new product? No. After more than twenty years of witnessing this, I have seen time and time again that the cause of the sales drop is the departure of that particular superstar. This proves that the sales rep is critical! 

Lucy, the bottom line is that you must stop looking to your company to provide extraordinary products and look to utilizing your own consultative selling skills as the key differentiator that will earn the business for you.

Good Luck, and Close ‘Em!

Dan

Dan Adams is an award-winning professional speaker, best selling author, and consultant who draws upon more than 20 years of experience in the field of sales and marketing. Having honed his sales skills selling multimillion dollar solutions for Fortune 500 and high technology companies over the past 20 years, Dan founded a profitable sales consulting company called Adams & Associates, utilizing his own strategic selling principles embodied in his program Trust Triangle Selling™.
For more information, please visit www.trusttriangleselling.com or call 630-215-5090.

He is also a member of the Top Sales Experts team, and you can read more about him here

Today’s News: Over at Salesopedia, Clayton Shold is in conversation with the very switched on, Ivan Misner – “Six Degrees Of Seperation”

Just click on the banner below to listen in:

Here is news of an excellent forthcoming event:

The Ultimate Appointment Making Workshop

Click here for the on-line registration form

In today’s economy, businesses cannot afford to wait for customers to beat a path to their door. Companies must “go on the offensive” and take a proactive approach to finding new sources of revenue. Companies that achieve exceptional revenue growth understand that one of the most critical steps in building a pipeline of new prospects is to get that first appointment. The Ultimate Appointment Making Workshop helps your sales representatives get their “foot-in- the-door” with new prospects so they can begin selling.

“I found the workshop extremely informative and time well spent.  Tibor is an excellent coach and manages to get his thoughts and principles across while also managing to keep his audience engaged for an entire day.  Anyone who (should be) spends their time hunting for new sales opportunities over the telephone should take this course.  Unless, of course you happen to be in the same industry as me which I’d then have to recommend that you stay away.”

The Appointment-Making Workshop enables sales representatives to use proven methods for generating leads, overcome the fear of call reluctance, capitalize upon referrals, and secure more appointments with decision-makers.

“A fabulous, pragmatic approach that is very focused on getting an appointment using cold calling.”

Attendees will develop a complete telephone appointment making approach and effective strategies for anticipating responses and handling issues in order to improve their ability to get that crucial first appointment. Sales representatives will create their own individual approach for qualifying and appointment-setting, build key skills necessary to generate new business, and practice these newfound skills through role-playing to ensure the successful application of what was taught.

Appointment Making Workshop Benefits

As a result of this Appointment Making Workshop participants will:
• Understand the value of building their base of prospects
• Develop techniques for making successful cold calls
• Turn leads into viable prospects by getting that first appointment
• Take a proactive role in filling their sales pipeline
• Create and leverage referrals
• Calling the right people at all levels
• Overcome the fear of cold call reluctance
• Effectively deal with gatekeepers
• Use references to penetrate new accounts
• Anticipate and manage negative responses to their initial call
• Leave voicemail messages that get returned
• Generate more sales as they secure more new appointments
“Thorough – simple – able to put in to practice right away. Expect immediate results”

Participants will see immediate payback for this one-day workshop as participants begin using these new skills the very next day.

INVESTMENT:   $307

PRICE INCLUDES:  Workshop, Workbook, Text book and Audio Book on CD;
Continental breakfast and snacks

SPECIAL BONUS:
FIRST 50 PEOPLE TO REGISTER WILL ALSO RECIEVE AN ABSOLUTLEY FREE COPY OF THE BEST SELLING BOOK: ”ASKING QUESTIONS, WINNING SALES”

Click here for the on-line registration form

Friday November 28, 2008
8:00 am to 9:00 am: Networking, Continental Breakfast and Registration
9:00 am to 3:00 pm: The Ultimate Appointment Making Workshop

Delta Markham
50 East Valhalla Drive
Markham, Ontario L3R 0A3

Directions & Map

 

Tomorrow: For most salespeople, management is their ultimate ambition – why? And why do so many fail?

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Oct 13 2008

It Is Difficult To Control External Events, If You Do Not Have Control Internally

 

Even companies that enjoy the luxury of clearly superior products, realise that those products will not sell themselves. As a minimum, companies need a sales force comprised of skilled professionals who understand the application of the product range, have an in-depth knowledge of their customer base, market sector and of course the competition. But even all these elements together are not sufficient to ensure optimum performance levels and profitable sales.

So What Is A Sales Process?

Put quite simply, it is a set of procedures, which determine how a company wishes its sales team to operate – “The way we do things around here”

The most successful organisations have implemented a process and an all-encompassing framework for defining performance standards. This involves assessing, appraising, developing, reviewing, providing continual feedback on performance, as well as implementing efficient and relevant process tools

Lack Of Direction

Far too frequently, competent salespeople are expected to channel their own activities into the areas that will produce the quickest wins. Unfortunately, left to their own devices, they don’t develop and pursue a formal strategy for moving a sale tangibly forward during each prospect interaction, neither do they have a clearly defined set of goals against which to measure the progress they are making Typically, their judgment is based on gut reaction and is purely subjective i.e., “Oh yes, I’ll get that order, he likes me”, because salespeople have to be optimistic by nature. They end up “dancing around” with prospects, in the hope that eventually they will get to their chosen point on the dance-floor i.e. -the sale. In this scenario, the customer has complete control.

A Discouraged Sales Force Diminishes Sales Efficiency

When their efforts don’t pay off immediately, even experienced salespeople tend to become discouraged. They spend more and more time struggling to meet their sales quotas and working less and less efficiently.

Feeling increasingly powerless to influence prospects, they may also begin to press for a sale in ineffective ways – for instance, by arranging formal product presentations to prospects that they have not even qualified or who haven’t yet agreed that they need the solution. They allow prospects to milk them for information without getting a commensurate commitment first – and even worse, they fail to defend margin and make unprofitable sales in order to achieve quotas. The details of what goes wrong differs for each individual salesperson but the net result is always the same, a discouraged sales force, diminished sales efficiency (i.e. wasted investment of sales time and resources that fail to produce high quality sales) and, consequently, increased cost of sales which inevitably drastically reduces net profit.

What’s the bottom line? Sales never result efficiently and with maximum revenue unless the sales process is continually and closely managed. But before the sales process can be managed, it must be manageable.

Developing A Consultative Sales Process

From the Sales Director’s perspective, developing a consultative sales process means developing a comprehensive, formal, realistic and step-by-step outline of what salespeople are expected to do. This is just as appropriate for internal and totally reactive sales teams as it is for external pro-active ones. This outline includes the activity and calls they must make, the relationships they should establish with prospects, the documentation they should use in sales calls, the issues they must discuss and resolve with prospects and the tangible goals they must achieve in sequence along the path to each sale, in order to achieve maximum effectiveness.

It’s only when such an outline is in place that sales management can be in a position to:
 Monitor the sales force’s activity, progress and results,
 Assess issues as they arise and take appropriate action,
 Redirect individual sales representatives’ efforts efficiently.

Although many organisations appreciate the importance of being customer-focused and talk in vague terms about their “consultative sales process”, surprisingly few sales leaders invest the time and energy required to develop a formal sales process – a process that is at once detailed and resilient enough to guide their salespeople and permit effective management of their efforts.

Overcoming Implementation Intertia

Even when a consultative sales process has been developed, understood by sales managers, written down and circulated, it’s often not enough. No matter how brilliant, a sales process will only be effective to the extent it is followed and used by frontline sales staff. And this is where most organisations fall down: overcoming inertia – among managers and salespeople alike – and implementing the process. The hurdles that must be cleared in order to get people throughout the organisation to actually implement it are enough to cause Sales Directors to tear their hair out. But a select few, of the very best, have found some innovative strategies that have enabled them to achieve the Holy Grail: Sustained sales growth achieved efficiently, reliably and by design.

Today’s News: What a great reception we received to our first two JF Uncut posts at the w/e: If you missed them, just scroll down.

The next Top Sales Experts ebook, has been delayed and will now launch next Tuesday – October 21st – I am certain the wait will be worth it!

Over on Top 10 Sales Articles this week, we again have a very strong ten nominees – so be sure to check them out here

Tomorrow: On the JF Guest Author Spot, is the very wise and very smart Kendra Lee, who last week sent me this message:

Now for a story of how small the world is thanks to the internet and those of us who network. This week, I was working with a new client in a planning session for his sales managers. We had a facilitation session to get their buy-in and agreement on their next steps. During the session the EVP of Sales pulled out a definition of consultative selling “from a fellow named Jonathan Farrington” and quoted it to me!!!! It was so cool to say, “I know Jonathan well. We work together.”

Now, that is cool!

 

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Oct 09 2008

Focusing Your Selling Efforts: What’s Your Niche?

The JF Guest Author Spot

Paul McCord

Are you a salesperson, professional or business owner who is trying to market to anyone and everyone in your market that might even remotely have a use or need for your product or service? If you are, why?

Why would you try to do something that most salespeople and professionals can’t possibly do well? Marketing on a general scale is expensive—just ask Coke, Microsoft, Old Navy, Sears, State Farm, UBS, or any other major company. They spend hundreds of millions of dollars every year trying to do what you’re trying to do on a shoestring.

But, you say, you’re only working in a very limited area? Fine, do you have the budget of a major, local auto dealership, or major, local furniture store, or any other major, local business that is trying to do what you’re trying to do?

But, again, you say that you’re not marketing to the general consumer but to a specific industry. OK. Do you have the budget your major competitors have to do direct mail, sponsor association events, advertise in industry specific publications, and all the other things your big competitors do?

No, you say, but you don’t need the sales volume they do in order to support all of those things or the massive staff they have. Good, now we’re getting somewhere.

You don’t need the sales volume they need, you don’t have the budget they have, and you don’t have the staff they have. So, why are you trying to capture the same general market they’re trying to capture? You don’t need it and you can’t afford it.

Rather than spreading your time, effort and marketing budget so thin, why not focus on one or two very specific segments of the market where you can become a real player? Instead of trying to spread your marketing budget over say, 40,000 people, why not focus on a small, but highly focused segment of maybe 5,000 people? Instead of trying to get to 11,000 companies, why not focus on 2,000 companies that fit within your ideal prospect template? Better yet, why not focus on 800 companies that are perfect fits to your ideal prospect? 5,000, 2,000, or 800 is still a large number.

By defining your ideal prospect in as detailed terms as you possibly can and then focusing only on that group, you increase your likelihood of selling each prospect, you are more capable of making inroads with each since you can focus your message to that group specifically, and you maximize your marketing dollars. You also can become the expert to really understand and resolve their issues and problems.

Finding and exploiting one or two niches is a far more effective marketing format for most salespeople, professionals and small businesses. Unless you have the time and money to compete with the big boys, you’re better served to do what they can’t—concentrate on and become the expert in a highly focused segment of the market.

Why don’t more salespeople, professionals and business owners focus on niche markets? Fear. Fear of possibly losing a sale. Fear that the niche may not be big enough to find enough clients to stay in business. Fear that they won’t be able to penetrate the niche. Fear that they’re leaving money on the table.

These fears are unfounded for the most part. Becoming a niche player does take time. It takes effort. It takes discipline. However, there is a lot of money to be made being a big fish in a very small pond—and no money to be made being a dead fish in a very large lake.

 

Today’s News: Most salespeople are looking to finish the year strongly and over at Salesopedia, Clayton Shold is in conversation with Jim Messenheimer about this very topic.

Clayton says: “I refer to Jim Meisenheimer as a sales expert; he refers to himself as a lifetime student of the selling profession. Which ever way you look at him he is a “player” in the sales game having trained tens of thousands of sales producers and thousands of sales managers. He knows what is required to finish the year strong. This podcast examines if you have what it takes to nail the fourth quarter. Jim walks you through six critical questions which strategically look at your business. He professes if you invest at least one day working through these questions you will not only have a banner last quarter but set the pace for next year.”  Simply click on the banner to listen in.

 

Tomorrow: What do doctors and salespeople have in common?

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Oct 07 2008

“May I Close You Now or Later?”

The JF Guest Author Spot

Keith Rosen MCC

If you eat healthfully and take care of yourself, then you will never need to go on a diet. A sound and practical philosophy, regardless of how challenging it may be at times to consistently do so.

This same philosophy holds true when it comes to selling. If you honor a well-balanced sales process, which includes everything from first contact to how you qualify a prospect, as well as how effectively you deliver your presentation, then you will not have to close.

Look what was being taught in the old school of selling. The old school taught salespeople to close, close, close. Salespeople were told to spend most of their time closing the deal. Trainers taught salespeople fancy closes to handle and overcome objections. Over the years, a new school of thought has evolved: the school of possibility. Imagine what would be possible if all the objections you typically hear at the “closing table” were prevented and defused throughout the course of your presentation.

There exists a choice a salesperson has to make. The first choice is spending minimal time on your presentation and spending the rest of your time attempting to close the prospect. The second choice is investing most of your time up front on a masterful presentation infused with well-crafted questions that defuse the most common objections you hear. This results in the prospect essentially closing himself, with minimal effort. Which school do you choose to be a student of?

Do you run into the same objection over and over again? If you see a pattern, wouldn’t it make sense to plan for or master a way to defuse these objections by preventing them from surfacing before they actually arise? Wouldn’t it make your job easier to put these objections or concerns to rest throughout your presentation? The end of your presentation should simply be the natural evolution of the selling process: earning the business of a new prospect.

If you can overcome an objection during the course of your presentation when it is still in its fetal stage, as opposed to waiting until the end of your presentation when it becomes a full-grown obstacle, you will find yourself spending less time closing and more time posting new sales.

Consider this: if you were building a brick wall, what would be easier; removing a broken brick that has just been laid or waiting until the wall is fully constructed? If you wait until the end, you have to tear down the entire wall just to get to the broken brick, and then spend the rest of your time reconstructing it.

The same holds true with your selling process. Remove the defective bricks or objections first in order to avoid having to do so later, when it just may be too late to do anything about it.

 

Keith Rosen is the preferred, authentic coach that top executives and sales professionals in many of the world’s leading companies call first. As a prominent, engaging speaker, Master Coach and well-known author of many books and articles, Keith is one of the foremost authorities on assisting people in achieving positive, measurable change in their attitude, in their behavior and in their results. Keith’s articles can be found in Selling Power Magazine and has appeared in feature stories in The New York Times, The Washington Times, Inc. Magazine, Sales and Marketing Management’s Ultimate Motivation Guide with Stephen Covey and The Wall Street Journal. For his work as a pioneer in the coaching profession, Inc. magazine and Fast Company named Keith one of the five most respected and influential executive coaches in the country.

To speak with Keith about personalized, one to one or team coaching or training or to receive his free ezine,
call 1-888- 262-2450, e-mail info(at)ProfitBuilders.com or visit www.ProfitBuilders.com.

 

Today’s News: I am incredibly lucky to have a small, trusted group of advisors, of which Keith is a very important member. Another, my “Crazy Sister” Jill Konrath, is adamant that my writing style is “high-brow” - that probably has something to do with her catching me off-guard one time and me confessing my membership of MENSA: You can imagine the conversation – “My name is Jonathan… and I have been inducted into a society for ….” Something almost “Confessional”

The reality is that I have deliberately avoided subjects that might be termed “controversial”

I am talking about - my political views; corporate corruption; the hypocrisy within the Catholic Church; why we are experiencing the worst financial meltdown in decades……..

But not anymore.

From this Saturday, you can catch JF Uncut (I know, the mind boggles)

Every Saturday and Sunday, I’ll be giving you my take on the things that are really important to me – no holds barred - and totally unassociated with my usual Monday-Friday persona.

If you think you can hack it (expletives may be used) then join me.

First up, I am going to respond to this load of ********

My experience is that Jerry is a really nice guy, so it’s nothing personal – truth is, we are in this mess because of two emotions that have driven the finance sector for almost two decades - greed and fear. I’ll elaborate on Saturday. 

Tomorrow: Even skilled and seasoned negotiators struggle sometimes when it comes to trading concessions, prefering to take the swiftest route to closure and thus leaving so much money on the table - tomorrow my advice on how to gather up those last few cents.

One response so far

Oct 03 2008

Some Hard Facts About Beliefs

 

A recent global survey of more than two thousand organisations that I recently read, identified that one of the biggest issues facing Sales Leaders today is that salespeople’s self-limiting beliefs constrain their performance, which obviously in turn, limits their sales results.

I do subscribe to the theory that whatever you believe you can do, you will; and whatever you believe you can’t do, you won’t.

Like everyone, salespeople hold stubbornly to private beliefs about themselves, customers, the market, competitors and the economy – beliefs that can have an enormous impact, either positive or negative, on their sales performance. If salespeople don’t see themselves as providers of value, they’ll be blinkered to the customer’s genuine business needs.

This manifests itself in a number of undesirable behaviours that range from being too pushy, to being far too accommodating. This can also lead salespeople trying to sell customers something the customer may not need or want, and that certainly will not build long-term customer relationships.

Typically, salespeople who believe that if they had more competitive prices they would win more deals, tend to attract more price objections. This in turn leaves them feeling fearful or reluctant to discuss price and their downward spiral becomes a self-fulfilling prophecy.

A salesperson’s state of mind is instantly transferred to their prospect or customer because they unconsciously transmit their attitude in a variety of subtle and even overt ways. Whilst the prospect or customer may not be consciously aware of the salesperson’s underlying attitude, they will just have a feeling that something isn’t right and will put a distance between themselves and the sales person.

This problem is further compounded and validated by research from Objective Management Group Inc who found that the typical sales person possesses a minimum of ten limiting beliefs that are having a detrimental impact on their performance. Once these beliefs are eliminated the average sales person will increase their sales by approximately 25%.

Many Sales Leaders understand the vital importance of the right mindset and those who are able to tackle and resolve the issue of their team’s negative beliefs will see a dramatic upswing in their team’s sales results.

You may also enjoy:”Are Self-Limiting Beliefs Constraining Your Sales Team?”

 

Today’s News:

 

Here’s a special message from a very special lady:

Strategic Marketing Ideas in a Shrinking Economy: Referral Expo 2008 (now through October 10th!)

The Referral Expo is a virtual event, conducted over the phone. It’s free to attend, but registration is limited:

* Breathe new life into your business
* Generate more referrals
* Find better quality referrals

Get new, innovative ideas! Bolster yourself against the economy. The Referral Expo 2008: Register now.

In times like these, building relationships and creating referrals are the keys to success. By attending this virtual expo, you’ll get loads of innovative ideas and strategies for generating referrals – all from the comfort of your home or office.

The Referral Expo 2008:

Tap into 15 world-class marketing experts as they share their best referral strategies. I’m honored to be included in the team presenting at this year’s Referral Expo.

What: Referral Expo 2008
When: Now through October 10th

Each 1-hour presentation will be conducted over the phone on successive weekday evenings.
Monday – Friday at 5:00pm Pacific / 6:00pm Mountain / 7:00pm Central / 8:00pm Eastern

Cost: FREE – Register now!

See you there

Joanne Black

Tomorrow: I am doing my bit for the next Top Sales Experts ebook, which should launch in about two weeks. I am also going to be thinking about the JF Consultancy 2009 strategy – yes, it is that time of the year already – this is me with my thinking cap on :-)

Our graphics designer, Bill Jeckells, has a great sense of humour!

OK, that’s a wrap for this week, so as ever, have a great w/e and be sure to make it back on Monday – JF

 

No responses yet

Oct 01 2008

Thoughts About Referral Based Selling

Some Background Information:

Did you know that:

• 40% of salespeople are failing in their sales careers?

• 45% of all salespeople earn the average income for their industry?

• A typical salesperson devotes only 10-20% of their time to actual selling because a large proportion of their available time is devoted to cold calling?

• 85% of all salespeople do not generate enough quality referrals?

• Salespeople who actively seek and exploit referrals earn 4 to 5 times more than salespeople who don’t?

•  Referral business closes and converts more than 70 percent of the time?

Why is referral based selling so powerful?

A referred customer is already pre-sold on the credibility of the salesperson, their company and the relevance of the products/services sold. These types of opportunities are much warmer than a cold-call based opportunity because it maximises the goodwill, inherent in the relationship between the referred customer and the referring person.

By association, salespeople are consequently perceived in a different light compared to those that have made contact ‘out of the blue’. The costs of selling to a referred customer are reduced because they are easier to see, and are likely to be reasonably well qualified so that the probability for converting the business is much higher. Generally speaking referred prospects will accelerate through the sales pipeline at a much faster rate than other types of opportunities, and they will also be more receptive towards providing future referrals.

What are the biggest barriers to getting referrals?

If asking for referrals has not been included and communicated in the sales process, this will deter salespeople’s focus as they will see asking for referrals as a ‘nice to do’ rather than a ‘must do’. This in turn usually means that there is no rigorous method for measuring and monitoring how many referrals are generated and what the conversion ratios are for closing referred customer business.

Energy goes where attention flows, so without specific attention to this salespeople are unlikely to invest their energy in this direction. (Even if they are firm believers in the positive impact that referrals can create!). For many salespeople asking for referrals is uncomfortable because they feel unsure about how to do this effectively, and they aren’t confident they will get their desired response.

If people don’t know how to do something and they believe that what they are doing will damage their existing relationships, then it’s better to avoid it all together. Additionally, if salespeople make the common mistake of asking for referrals too early on in the relationship this can result in more refusals that further erode salespeople’s confidence.

Therefore, to optimise the use of referral-based selling the following components are vital:

1. Asking for referrals and acting on them needs to be incorporated in the overall sales process.

2. Metrics around referrals should be sought and evaluated on a regular basis, because this contributes towards furthering the rationale for generating them.

3. Development and training needs to be delivered to the sales team so they can maximise the impact of referrals and feel confident with this skill.

When is the best time to ask for referrals?

People will freely give referrals when they have benefited from your product/service and have an established relationship with you. This rarely occurs during the initial meeting because whilst they may like you, they haven’t yet validated what you can do for them. That’s why asking for referrals should be when the relationship you have established is strong enough to ensure their trust and belief in you.

Assessing the strength of your existing customer relationships can be very subjective unless there is a meaningful set of relationship criteria in place.  Although these will vary from organisation to organisation, they may include factors like:

- Communication frequency with key influencers
- Satisfaction with product/service
- Speed of response to queries/problems
- Length of relationship

The customers with the highest scores (based on the relationship criteria) are those that should be approached for referrals.

What is the best way of generating referrals?

1. Prepare a description in the form of a criteria list that specifies the type of person or organisation that you are looking to approach. This should be based on the profile of your Ideal Customer.

2. Evaluate all your customers using a relationship criteria and identify a list of those with the highest scores. For every customer your aim is to generate a minimum of 5 referrals. Therefore, if you have 25 customers on your list your target number of referrals will be 125.

3. Contact each customer on your list and take the pressure of them by explaining that you don’t want to sell to them, you would like their help.

For example: “Do you know anyone who is (specify your criteria) that would be interested in learning about how our products/services can benefit them?” Preface your question with a softener such as: “I wonder if you can help me” or “I would really appreciate some advice.”

4. When customers give you referrals, ask their permission to use their name when making contact. Alternatively, where your relationship is ‘rock solid’ ask customers to make the initial introduction by letter or email. Often customers will give a glowing testimonial and create a relevant context when introducing people.

5. Thank customers for referrals and keep them appraised of your progress. This creates a positive association towards the giving of more referrals in the future.

So, there we go, my most recent thoughts on the importance of referral selling!

 

Today’s News: A couple of great blog posts for you: “Martini Glass Prospecting” from Colleen Francis and “What’s The Half-Life Of Sales Training?” from Dave Stein.

 

Tomorrow: My guest is the amazing Billy Cox, who urges us to “Expect Victory”

 

5 responses so far

Sep 30 2008

Cut Your Credibility (and Revenue) by 50% With One Word: Proposal

The JF Guest Author Spot

Stone Payton

Propose (prə-ˈpōz) : to set forth for acceptance or rejection, to put forward for consideration

If your child were running in the middle of a busy street to chase after a ball, would you propose he stop?

If your neighbor’s house were on fire, would you propose the Fire Department entertain the idea of driving by when they get a chance?

I realize that most of us don’t hold other people’s lives in the balance as part of our normal work day, but many of us in this arena really do provide services that substantially impact (improve) organizational performance and individual quality of life. What we do is important. What we know is important . . . too important to leave our solutions at the mercy of those often least equipped to determine their value – the client.

If your client has a problem you can solve, why would you propose (set forth for acceptance or rejection) your expert advice on the course of action to take? They either need you or they don’t. You’re either right or you’re not. (And you either believe these two things with all your heart, or you don’t.) If they need you – tell them . . . Tell them Why, tell them What, Where, Who, When and How much.

Yes, organizing all of this — and capturing it in a document you and the client can both reference as your conversation unfolds can be helpful. But please don’t consider it, don’t position it, and for the love of Mike . . . Whatever you do, don’t label it or call it a “proposal.”

(The term I use most often is “Recommendation Summary.” I’ve been doing this work for over 20 years. I’m not proposing anything – I’m an expert. I know what I’m doing, and I want to help you. I’m telling you exactly what your problem is, and exactly what you need to do to solve it.)

If you cannot or will not follow my recommendations, I’ll still try to help you – at least to the extent that I’ll try to get you connected with a (perhaps lesser, but nonetheless, competent) resource to help you take the actions you are prepared to take right now. (In fact, I do this all the time with people trying to solve their Sales Problem with Training, or their Marketing Problem with a Website.)

We can still be friends, let’s definitely stay connected — and we can even go fishing after Church, if you like – but I’m not about to propose you take a course of action, then sit in my office waiting on that phantom phone call . . . hoping you find it in your heart to please baby, please accept my humble submission . . . and then circle back at some undetermined date to tell me all the things in my proposal that you are and are not going to do. “Just Shoot Me Now!”

If you’re currently living this “propose & pray” existence, let me offer a little soul saving, money making relief:

Take a brief stroll with me into the “No Bull Zone” for a moment: If the client had the knowledge and skills to actually treat your submission as a proposal – meaning, he’s better equipped than you are to accept or reject a specific course of action as the best path to take . . . then what does he need you for in the first place? Are you, or are you not the expert here?

Let’s be honest, a great many of our clients don’t even know what questions to ask.

How can we (Why Would We) expect them to have the answers?

(If they do have the answers without you – or even just think they do, Great . . . go help someone who needs and wants the help. Again, you can do this – fire the prospect – in a very nice and professional manner by connecting her with someone else who won’t hurt them. And when you “fire” prospects in this manner, you’ll find that many come back soon enough – with a mindset that will allow you to truly serve them this time around.)

So What?, Now What?

This soul-sucking, heart-wrenching, money-losing pattern of submitting proposals can be largely corrected by exercising just a few key disciplines:

1. Stop calling it a proposal. Many clients will still keep calling it a proposal, of course. You don’t have to correct them (though I often do), just never, ever use the term yourself. Simply making this modest shift in semantics will serve both you and your client well . . . help you stay positioned as the expert resource that you are, and help the client avoid shooting themselves in the backside.

I suspect that my Discussion Guides, Engagement Outlines, and Recommendation Summaries look a lot like key pieces of what you currently call a Proposal – especially if your documents are just a few pages or less. I can’t think of a quicker way to cut my revenue in half (and my credibility by at least that much) than to take those exact documents and label them “Proposals.” The Good News For You: To whatever extent I’m right, the math works both ways. If you take no other suggestion I make on the issue, give this one an earnest try – simply re-label your current proposals, and determine for yourself if it really makes a difference.

2. Stop writing it yourself. Co-create your Recommendation Summaries with the client – and clearly label every version of this “working document” as a DRAFT.

Consider labeling later and final versions as co-authored by your Internal Champion(s). In my experience, this discipline of co-creating is particularly important — and remarkably effective — when working with multiple buying influences and complex sales processes. Sure, a piece of this is just good Sales Psychology 101 (capitalizing on the power of engagement, inclusion, pride of authorship, etc.) . . . but your recommendations will actually be better if co-written with the client. The Best Sales Tool on the planet is Doing Good Work. The proposal . . . uhhhh, that’s Recommendation Summary now . . . is a work product – often the first tangible expression of your work that the client sees.

3. Stop expecting the document to do the selling. Do your selling before – and if necessary, after – but the document itself is a horrible “stand-alone” Selling Tool.

Early in the process, this living, working document can establish credibility, frame up the conversation to keep the exchange properly focused, gather information, challenge thinking, check assumptions and educate.

Later — as more information is uncovered and the prospect begins to take equal ownership for both the document and its role in the decision making process, it can serve as a co-created Project Plan or Engagement Outline DRAFT – to be further refined with the client’s active participation . . . including the business case for change, desired outcomes, budget parameters, etc.

The “selling” takes place in the creating (and co-creating) of these DRAFT-level documents, and firmly securing commitment (to the need, desired outcomes, and existing plans) from your Internal Champion(s) at every step along the way. The final document (what I usually refer to as a Recommendation Summary) is just that . . . a Summary – capturing the highlights from all of this previous work – and ideally submitted after the “sale” has really already been made.

Two Important Notes On This:

a) I’m not advocating mounds of paperwork here. I (and most of those from whom I’ve learned these valuable disciplines), write plenty of six and seven figure business with as little as one piece of paper from beginning to end. But if your sales process does require several rounds of discussion and this level of in-depth documentation, DO NOT do it in isolation, do it in partnership with the client.

b) Keep the final document (again, called anything but a proposal) completely separate – and positioned solely to facilitate the final steps in the buying process, in a sale already (at least intellectually and emotionally) made . . . NOT as something for the client to evaluate as an appropriate solution to their problem.

Of course it’s appropriate: The expert (you) — after giving the situation the careful consideration and thorough evaluation you are uniquely qualified to provide — says so.

4. When asked to submit a proposal . . .

• Clarify what they’re asking for – and answer as much of what they want to know in a proposal as you can — right there on the spot.

• If they still want a written proposal, tell them you’ll be delighted to craft a brief one or two page Recommendation Summary reflecting your findings and outlining what you just said – or if they prefer . . .

They can write it up themselves to make sure it includes exactly everything they need and want . . . then you’ll review and sign it.

• If the client (or the nature of your sales environment) requires something beyond what I’ve just described (and securing this piece of business is important enough to you), then by all means do it – but do follow the first three disciplines I outlined above.

You now have a set of expert recommendations on the topic. They really will Solve a Costly Sales Problem for many who read this. I am an expert in the field, and believe with all my heart that you should follow my advice. If you don’t, I think you will suffer (financially and emotionally).

By the same token, I’m delighted to help co-create your success, and recognize that I don’t have all the answers. So, if you disagree with any of the above . . . What Do You Propose?

Stone Payton is a Sales & Marketing Troubleshooter specializing in helping Training & Consulting firms Solve Their Sales Problem. “The Most Candid Consultant On The Planet,” and the man who literally wrote the book on SPEED®, Stone plies his craft at: www.marketmate.org and http://stonesells.blogspot.com

Stone is also a Top Sales Expert and you can read more about him here

 

Today’s News: A new business acquaintance, Craig Klein, CEO of SalesNexus  - an excellent solution that I am going to be talking a lot about soon – is based in Dallas and also has a blog called Sell, Sell, Sell and last week, he posted an amazingly funny piece from an anonymous housewife in the aftermath of Hurricane Ike; Given the latest financial doom and gloom, I thought I would reproduce it in it’s entirety to cheer you up:

Things Ike taught me:

Coffee and frozen pizzas can be made on a BBQ grill.

Hot pockets taste pretty good deep fried on the outdoor cooker!

My car gets 23.21675 miles per gallon, EXACTLY (you can ask the people in line who helped me push it).

He who has the biggest generator wins.

A new method of non-lethal torture- showers without hot water.

There are a lot more stars in the sky than most people thought.

TV is an addiction and the withdrawal symptoms are painful.

A 7 lb bag of ice will chill 6-12 oz Budweiser’s to a drinkable temperature in 11 minutes, and still keep a 14 lb. turkey frozen for 8 more hours.

There are a lot of dang trees around here.

Flood plain drawings on some mortgage documents were seriously wrong..

People will get into a line that has already formed without having any idea what the line is for.

Cell phones work when land lines are down, but only as long as the battery remains charged.

If my store sold only ice, chainsaws, gas and generators… I’d be rich.

Waterfront property can quickly become someone else’s fishing hole.

Tree service companies are underappreciated.

I can walk a lot farther than I thought.

A skateboard and a sheet make a great “sailboat” before the rain starts.

You can never have too many gas cans!

If you fill the bathtubs with water, the water will not go off.

Neighbors are much more sociable when they are sharing a generator.

Two-year-old canned beets taste better than you’d think.

Just because it is dark and you are in the privacy of your bedroom doesn’t mean we can’t hear what you are doing in there because our windows are open too.

What looks acceptable by candlelight in your bathroom will scare you when you look at yourself in the mirror at the office.

Coffee is possible without Starbucks.

Rather than campfires, you find families huddled about tiny battery-operated televisions to watch The Simpsons.

Peanut butter and jelly is a perfectly acceptable meal for breakfast, lunch and dinner in the same day.

That neighbor who knows how to use a chainsaw is your new best friend.

You run out of things to barbecue after Day 2.

Hair can dry without a blow dryer, but it may not look the way you planned.

The storm treasures your kids are finding really belong to your neighbors.

Baseball caps go with any post-hurricane ensemble.

Grapes taste better in the dark.

You can’t train yourself not to flip on light switches when entering a room.

Lukewarm is the new cold.

You have neighbors.

A new opening phrase when seeing someone: “Got lights yet?”

Anon
Tomorrow: Some really good advice about referral selling for you.

 

3 responses so far

Sep 25 2008

Breaking Through Feast and Famine

The JF Guest Author Spot

Joan Paul  

 

This morning when I opened my calendar, everything looked different. Surely someone’s been playing with my computer. I could swear I had appointments booked and paying clients taking every available spot for the next two months. I must be having a bad dream. Pinch myself. Nope. It’s true – I’ve hit the dreaded dry spell!

Entrepreneurs talk about it all the time as part of the game, but being in it is an entirely different thing. If you are like most business owners, you haven’t yet managed to balance the feast and famine phenomenon. The question is, “What do you do when the famine hits?”

First of all, BREATH!!! Preferably without hyperventilating. Don’t panic. Don’t throw in the towel. Don’t check the employment ads. Do remind yourself why you started your business. Do remind yourself of all the successes you’ve enjoyed and will once again enjoy. Do remind yourself if you are just starting up, that it takes time to build an active business. Do park your negative self-talk and replace it with positive affirmations, like “Today I am one step closer to experiencing the wild success that I’ve dreamed about!”

When things are looking a bit slow, do the following:

-Go to your database and call all the people you’ve been meaning to stay in touch with. Arrange to meet and exchange ideas or just have a coffee and find out how you can help them with their objectives.

-Apply a referral selling process. In No More Cold Calling™, The Breakthrough System That Will Leave Your Competition in the Dust, Joanne Black puts forward a practical approach to building your business through referrals. This simple system can propel your business through the roof without wasting business development time.

-Attend to the business planning that you may have been procrastinating about. Revisit your business and marketing plans. It will likely re-energize you.

-Find a coach. Whether hired or a business buddy, it’s very helpful to have a thinking partner, someone to share with and encourage you to keep your eye on preparing for the next delectable feast.

-Learn something new. Take the opportunity to read the last business book you bought and put on your nightstand or attend a training program that’s been on your to do list.

Most of all, remember dry spells are temporary and keeping perspective is critical to your success. The objective is clearly to have fewer dry spells and more feasts. However, dry spells are inevitable for most entrepreneurs. If you find you are stuck in dry spell, do get some guidance from someone who can provide insight for you and be prepared to explore difficult possibilities. As Jim Collins says in “Good to Great,” Confront the brutal facts, yet never lose faith.”

 

 Joan Paul is a Certified Executive Coach and Sales Strategist. Her company, J. Paul Training Inc., provides customized training, strategy development and is the distributor of No More Cold Calling, TM, The Breakthrough System That Will Leave Your Competition in the Dust, and The Sales Activator®, an international sales management system. Joan can be reached at (403) 607-1979 or through her website http://www.jpaultraining.com

 

Today’s News: Over at Salesopedia, Clayton Shold is in conversation with “Mr Inside Sales” the very genial, Mike Brooks – “Throw Away Your Funnel” – “Suppose someone told you to throw away your sales funnel. Would you think they are contrarian or just crazy? Mike Brooks suggests the top 20% of sales producers don’t use a funnel, they use a sales cylinder. He explains how to dramatically improve your closing ratio by using a cylinder and disqualifying prospects early. Mike has a special message for the sales leaders in the audience who have grown up with, and continue to promote sales funnels.”  As usual, just click on the banner below.

 

In “Wall Street And Broken Social Trust” Charles Green articulates very well what most of us are thinking right now – you might enjoy the read.

My own view is that there is only one thing uglier than a fat cat, and that’s a dead fat cat. Once upon a time in the UK, if someone introduced themselves as an estate agent, you would count your fingers after shaking hands – the banking industry has now been passed that baton and is viewed with considerable disdain by anyone with an I.Q. of more than 30.

Tomorrow: In response to the question: “What is THE most important leadership trait?” I provide the answer – for me, it is a “no-brainer” 

One response so far

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