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Lunch with Sales Coach Dave Kurlan on Wed June 18th

7 May

Inquisix members in New England have been graciously extended an invitation to attend a free lunch and sales seminar hosted by Dave Kurlan. Rick Roberge, who was the Inquisix Networking Night guest speaker, is a member of Dave’s Sales Consulting business and invited me to attend the last presentation. Dave is a best-selling author, sales consultant and great business speaker.

Dave’s talk will focus on three topics near and dear to all sales management

* eliminate sales hiring mistakes

* accurately predict future sales revenue

* have all your reps overachieve quota

The event is being held at the White Cliffs Estate in Northborough, MA from 11am to 2pm. If you’d like attend, please register HERE.

Thanks for the invite, Rick!

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Customer One-Line Success Stories as Your Selling Keys

5 Apr

How well do you know the real reasons why your customers use your solution? The more you know the why the better you will be at selling the how. Features are rarely the reason. Sure, features are important but your competitors have features, too. What about the benefits of those features? Yes, more important than features but even junior sales reps right out of Dale Carnegie can recite features. Your company marketing department may supply you with glossy customer success literature to hand out to prospects but nobody reads them and rarely believes the platitudes printed on them.

You want your prospect to engage with you; to think of you as an expert, to move from disbelief to want to need. Your goal is to share brief customer success stories in conversations with prospects so they can see themselves benefiting from your solution in the same way.

Gold key bad powerpoing

The best way to engage with your prospect is to throw those PowerPoint slides that marketing gave you away. “Death by PowerPoint” is an all too-true cliche. I carry only 2 slides with me, printed out and laminated back to back. One side has the logos of all my company’s customers. The other side is diagram of my solution. By only showing the customer logos slide, I can engage with a prospect for 30 minutes just by mentioning the one-line successes each of these customers has had with my solution.

This means:

* My prospect realizes I have important knowledge to impart
* I know my customers, why they buy from my and the value they derive
* Therefore, I am not a transaction-based feature-benefit sales weenie but a trusted advisor

And where is the prospect’s attention focused? Not up on the wall, reading the slide faster than you can talk but rather focused on you. Where it belongs.

So learn your one-line customer success stories by heart, throw away your PowerPoint slides and get back to selling!

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The Field Rep's BFF – Telesales

26 Mar

Every company has them – the field rep that considers themselves the lone cowboy, the sniper that single-handily closes big deals. They take pride in making their number all by themselves with minimal involvement from others. They often don’t want anyone else in their account or insist that all communication goes thru them. And since they’re often successful, no one in management tells them to sell differently.

cowboy sniper doortodoor

From personal experience, I’m saying that the field rep that does not embrace their telesales rep is leaving money on the table. If you can do 100% of your number by yourself, imagine what you can do with a telesales rep helping you.

When I started in telesales, I supported a team of field reps that sold into the US government’s secret DoD agencies – you know the ones with the 3 letter acronyms. These field reps saw no value is a telesales rep that could not prospect for them since cold calling into the agencies was illegal. And yet their comp plan said that they had to share the sale with their telesales rep. My telesales predecessor quit because of the animosity of these field reps. So my immediate goal was not to win customers but win over my field reps. Since the comp plan was not changing, the field reps and I came up with creative ways I could support them and have them feel I added value. Some of the things that we agreed Telesales would do for the field rep included:

* Doing all quotes
* Processing all orders
* Updating the CRM system – contacts, notes, tasks, opportunities, calendar
* Handling inbound requests from customers & prospects

Since I could not help them at the beginning of the sales cycle, I showed my value at the end of the sales cycle. And once they and their customers got used to working with me and saw how quickly I could respond since I was always in the office, my relationship with the field reps improved dramatically. And as more customers called, I was able to help earlier in the sales cycle, too.

The field rep’s ultimate expression of their trust in me was adding me to their voice mail. “Hi, this is your field rep, please leave a message at the beep. But for immediate attention, call Michael at 867-5309.”

Now that I’m in the field, I work with my telesales rep to maximize our selling potential together. Comp plans are generic so they don’t take into account the nuances of every territory. When I develop my territory plan at the beginning of the year, I include my telesales rep. Because I know if I can do 100% by myself, then I can do 150-200% with my BFF – the telesales rep.

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Recession-Proof Selling

13 Mar

The U.S. economy is in a funk. Have your phones stopped ringing yet? The “R” word–recession–is back. Housing starts are falling, the consumer price index keeps jumping, the stock market is like a roller coaster, massive layoffs occur daily, and renowned companies are declaring bankruptcy. The Fed has lowered its projection for economic growth. Is it 2001 all over again?

How do you tackle economic uncertainty? Cut advertising, travel, training, marketing, and discretionary expense line items? Cut purchasing? Ouch! The pipeline starts to dry up and the anxiety level goes through the roof. Many people think that since there’s nothing they can do, they should just do nothing. But “nothing” is futile thinking.

What if you could reach your market without hard costs–no marketing budget, no direct mail budget, no advertising budget, no trade show budget? The only budget you need to worry about is your “Time & Referrals” budget–simply your time…your time to ask for referrals!

You know about referrals. When a qualified prospect is referred to us, we get a new client a minimum of 50 percent of the time and typically between 70 and 90 percent of the time. Additionally, we are pre-sold, our selling time decreases, we have credibility, and we ace out the competition. There is no other business-development process that can claim these results. Results are the only thing that matters.

Here are five “Killer Steps” to accelerate your sales in a lagging economy, retain your loyal customers, and attract new business without increasing your cost of sales.

1. Broaden Your Perspective
What business are you in? Redefine and reinvent yourself. Is Starbuck’s in the coffee business or the people business? Build new alliances and consider alternate distribution channels. Don’t go solo. Assemble a group of advisors and get their input and creative ideas.

2. Be Nimble and Innovative
You’ll never have all the facts. Make quick decisions. Be fearless and make tough choices. Create new uses for your products. Why not a new business model?

3. Dazzle Your Current Customers
Your current customers need care and feeding. Don’t ignore them at the expense of new business, because they are your best source for new business.

4. Prioritize Wisely
The most important activity for any salesperson is to do what’s “closest to cash” the first thing every single day-whether it’s following up with a prospect, writing a proposal, or closing a deal.

5. Become an Expert
Companies hire experts because they can’t afford to make mistakes. Position your company as the expert with a specific product or in a specific market niche.

Bottom line: Sell more with higher margins, accelerate your “win” ratio, and take business away from the competition.

Referrals Referrals Everywhere Referrals

6 Mar

Two blog postings on referrals hit my blog reader this week. Is this national referral week?

One from Paul McCord over at Sales and Sales Management Blog on developing a Referral-Based Mindset.

Another one came in from Clayton Shold’s Salesopedia where he posts a podcast from Joe Heller speaking on, “Why Referrals Work Best”

Well, of course referrals work best! They always have and always will. And in these days of caller-id and effective spam filters, it’s a wonder that any cold call or cold email lands a prospect.

But I wonder if customers are really the best place for getting referrals. They’re great at giving references (assuming you deserve them) but referrals? I’ve argued before that most customers don’t have the right DNA to actively generate referrals for you. And if you read/listen to these two new blog postings, you’ll quickly realize that generating customer-based referrals is A LOT of work. Maybe cold calling might be easier for some sales reps than these programs. Or maybe using customers for references instead of referrals is a more effective plan.

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ABN = Always Be Networking

27 Feb

Note from the Editor – I saw Scott Ginsberg (aka the NameTagGuy) write a post over at RainToday and enjoyed it so much that I followed his suggestion #14 and asked him if Inquisix could re-post his entire article here. The content is Scott’s but the links are from Inquisix. Those of you who are familiar with Glengarry Glen Ross and Alec Baldwin’s ABC rule – Always Be Closing, will find our title familiar!

The Federal Bureau of Labor published a study a few years back that showed 70% of all new business comes from some form of networking. What other motivation do you need to start?

Below are fifty thoughts to help you on your way. Before you read on, remember: if you think you’re poor at networking, don’t worry, you’re not alone. It’s not a skill we are born with but one we have to learn.

1. Come to every networking event with three great questions ready to go. Be sure they begin with, “What’s the one thing?” “What’s your favorite?” and “What was the best part about?”

2. No matter where you go – the mall, church, out to dinner, the gym – have at least five business cards with you.

3. Be able to give an unforgettable personal introduction in 10 seconds, 30 seconds and 60 seconds.

4. When someone on the phone says, “May I ask who’s calling?” get excited. Say something unique that makes that person say, “Um, okay…please hold.” Be unexpected. Be cool. Be memorable.

5. Get Google alerts on yourself, your company, your area of expertise and your competition. If you don’t know what a Google alert is, just Google it.

6. Networking isn’t selling, marketing or cold calling. It’s the development and maintenance of mutually valuable relationships. Don’t mix these things up.

7. The most important four letters in the word “networking” are w-o-r-k, because that’s exactly what it takes.

8. If you give your business card to somebody and they don’t reply, “Hey, cool card!” get a new card.

9. When attending networking events, come early. Check out the nametags. See if you know anybody, or find people you’d like to meet.

10. Sit in the back so you can scan the room for specific people you’d like to connect with.

11. Email articles of interest, links or other cool stuff of value, (not spam), to people you’ve met.

12. Publish a newsletter or ezine. Interview people from your network and feature them as experts. They will take ownership of their inclusion and spread that publication to everyone they know.

13. Spend one hour a week reading and commenting on other people’s blogs. If you don’t know what a blog is, you’re in trouble.

14. When you read an article you like, email the author. Tell him what you liked about it and introduce yourself. He’ll usually write back.

15. Have an awesome email signature that gives people a reason to click over to your website. Just be careful not to have too much information included.

16. Get involved with social networking sites like LinkedIn, MySpace and Squidoo.

17. Remember that networking doesn’t have to be in person. The Internet is a great place to connect with people just like you! It’s called Internetworking. (Yep, I made that word up.)

18. Make your own words up. It’s really fun.

19. Have business lunches at least once a week.

20. Attend local events once a month.

21. Figure out where your target market hangs out (online and offline). Then hang out there.

22. Create your own regular “business hangout,” like a copy or coffee shop where you can regularly be found working, networking, reading or connecting with other professionals.

23. Talk to everybody. Don’t sell them; don’t probe them, just make friends. Make friends with everybody. Because people buy people first.

24. Take volunteer positions with organizations that are relevant to your industry. Be a visible leader to whom others can come to for help.

25. Every time you meet someone, write the letters H-I-C-H on their business card: how I can help. Then think of five ways to do so.

26. Go to Borders and spend one day a month reading books on networking, interpersonal communication and marketing. I highly recommend The Power of Approachability and How to be That Guy. (I hear the author is super cool.)

27. Publish articles or a blog or both based around your expertise. Use titles such as “Top Ten Ways,” “Essential Elements” and “Success Secrets,” that grab the reader’s attention. Publish them on http://www.blogger.com and http://www.ezinearticles.com.

28. Be funny, but don’t tell jokes.

29. Discover the CPI (Common Point of Interest) with everyone you meet.

30. Carry blank business cards with you in case someone forgot theirs. They’ll thank you.

31. Never leave the house without a pen and paper. Sounds dumb, right? It isn’t. It’s genius. Nobody keeps napkins with scribblings on them.

32. Every week, introduce two people you know who need to know each other.

33. Wear your nametag above your breastbone and make sure it’s visible from 10 feet away. Nobody cares what side of your chest it’s on. Just make it big. And if you don’t like wearing nametags, then you probably don’t like people knowing who you are, either.

34. It’s not who you know – it’s who knows you.

35. People will like you the minute they figure out how they are like you.

36. Fear not to entertain strangers for by so doing some may have entertained angels unaware. (Hebrews, 13:2)

37. If you don’t have http://www.yourname.com, get it. It’s ten bucks.

38. Find local professionals with whom you share common interests, customers, ideas and products. Introduce yourself to them, get together, share ideas and find ways to help each other.

39. Form a mastermind group. No more than four people. Meet regularly to set goals, keep each other accountable and brainstorm.

40. Also, set your own networking goals each month for:

* Events to attend

* People to meet

* Emails to write

* Calls to make

* Articles/physical mail to send

41. Go onto Google and type in “articles on networking.” Read on!

42. Speaking of Google, Google yourself regularly. Find out what people are saying about you. If you don’t show up, you’re in trouble.

43. If you think you don’t need to network, you are right. You don’t need to network: you must network!

44. Stop calling it networking. Ignore the title of this article. Networking – as a word – is tired and old and cliché and it makes people think you’re throwing around a bunch of cards trying to sell, sell, sell. No. All you’re doing is making friends. Not schmoozing, mingling or any of those stupid catch phrases. You’re making friends. That’s it. Friends. Make them every day.

45. If you think you are poor at networking, don’t worry. You’re not alone. But also remember that anyone can develop their networking skills. That’s right, skills. Because it’s not something you’re born with or just plain “good at.” Anyone can do it effectively. You simply need:

* To develop the attitude of approachability

* To read books on the subject

* To practice

46. When strangers ask, “How are you?” don’t say fine. You’re not fine. Nobody’s fine. Give a real answer that’s memorable and magnetic. I suggest, “Business is kicking ass!” or “Everything is beautiful!”

47. When someone asks where you’re from, don’t just say “Austin.” Use the H.O.T technique: “Oh, I’m from Austin, home of the best college football team in the country.” Get creative. Get unique. Watch what happens.

48. Put your person before your profession. Your personality before your position. Your individual before your industry.

49. Don’t be different – be unique. Don’t be friendly – be approachable. And don’t be memorable – be unforgettable.

50. Think about the last five “luckiest” business contacts you encountered. Figure out what you did right, realize that there is no such thing as luck, then repeat as often as possible.

About the author – Scott Ginsberg, aka “The Nametag Guy,” is the author of seven books and writes the #39th most popular marketing blog in the world. He is the creator of NametagTV, an Online Training Network that teaches businesspeople about approachability. For more info about books, speeches, customized online training programs or to Rent Scott’s Brain, call 314/256-1800 or email scott@hellomynameisscott.com.

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Use Customers for References Not Referrals

16 Feb

Two recent postings by Jan Visser and Paul McCord got me thinking about how to best use customers to increase your business. As the chart from eMarketer below says, business decisions are heavily influenced by colleagues’ word-of-mouth. Naturally, sales people try to get referrals from their customers to gain new ones. After all, they’re the best referral you can get! But as Paul pointed out, having your customer say, “Give so-and-so at this company a call and use my name” is often not much more than a cold call. Paul and I agree that it’s much better if they contact so-and-so and make the introduction directly. But they often won’t.

EmarketerChart

Why is this? Why won’t customers give you referrals? Or as Paul prefers to ask, “Why won’t customers make introductions for you?” There are several reasons but the primary one is that customers don’t really know how. It’s not in their DNA to voluntarily call someone up and tell them about your solution. However, they will respond to a request for feedback on your solution.

The chart says that the top influence on buying decisions is from colleagues. However, the chart does not suggest if the buyer received a call or made the call. I will bet that it’s the buyer making the call to their buddy, “Hey, do you have any thoughts on this product?” or “I have this problem, do you have any idea on how to solve it?” Since Customers often give references instead of making referrals, why not use them that way? If customers are uncomfortable making referrals/introductions then don’t use them that way. Get your referrals somewhere else and let your customer give the reference.

Expect your customers to receive calls on your behalf but not make them on your behalf.

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Adding to our Blogroll – SalesTeamTools.com

9 Feb

One of my favorite sites is SalesTeamTools because it’s one of the few sites I’ve found that is focused on productivity tools for salespeople. Hence their name! I have worked at small companies for years and while that means I don’t always get full support from corporate, it does mean that I can pick and choose the sales tools best suited for me.

SalesTeamLogo

Some of my favorite postings include:

Outlook plugins to improve your productivity

More Outlook plugins

20 Great Sales Resources

Must Have Tools

Finding email addresses

Sales Templates

Free way to track customers, prospects, competitor and yourself

Why LinkedIn won’t help you sell

Have you found any other top 10 links in SalesTeamToolsto share with us?

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Closing Ratio's

6 Feb

According to Colleen Francis in her blog, “Sell More, Work Less, Make More Money”

The closing ratio on cold calls is 75:1 while the closing ratio on referred leads is 4:1

CSO Insight’s 2007 Survey says that

Sales people spend 18% of their time cold calling.

With a 40-hour work week (yeah, if we only worked 40 hours), that’s over 7 hours of cold calling resulting in …. frustration.

In other words, if you spent those 7 hours working on referrals instead of cold calling, you’d close 18 times more deals!

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The most important word in sales

16 Jan

I attended a networking group meeting hosted by the Pawtucket Networking Meetup group. It was well attended by almost 20 people, some selling B2B and others selling B2C. The guest presenter was Marty Eerhart presenting his mini workshop, “New Business Development for Professionals.”

He spent time talking to us about creating our own Informercial about ourselves – something that Joanne Black calls her, “10 seconds to get a smile” when telling someone what you do. The people you are speaking to want to hear

  • What you do
  • What’s in it for them

Then Marty asked the room, “What’s the most important word in sales?” He received many answers including ones you’d probably think of

  • sale
  • now
  • please
  • final
  • offer
  • benefit
  • discount
  • value

and many others. He said, “Nope” to all of them. Marty says that the most important word in sales is BECAUSE.

What you do because what’s in it for them.

His reasoning? When you were a child and were begging for something from your parents, they turned to you and said, “No.” And as most children do, you asked, “Why?” and their answer, “Because!”

Why should I buy from you? BECAUSE…..what’s in it for me.

Anyone think there’s a more important word in sales?

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