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1+4 Cold Calling Tips

1 Apr

Why would a blog posting from Inquisix mention cold calling tips? After all, we’re about exchanging referrals amongst sales people. Unfortunately, there are times when that referral is just not available and cold calling is required. This discussion came up in a previous blog posting, “Cold Calling Works?” where some sales experts chimed in with their thoughts in the comments.

I read a recent posting on DigIt! about a Cold Calling Tip. Just one! Elinor Stutz suggests the following to increase your response rate on cold calls –

“After leaving the voice message, immediately send a duplicate short email. But, here is where it will be slightly different. In the subject line, you can type ‘follow-up’. Begin the message from the reader’s point of view by stating, ‘I realize it is easier to press the reply key then to dial back. Per my telephone message…’ Keep your message down to one or two very short paragraphs.”

What do you think? Will this work effectively? I almost always follow-up a voice mail (cold call or not) with an email because some people prefer to return communications via email instead of phone. So I give them a choice. But to state, “I realize it is easier to press the reply key….” in your email? I’m not sold on that. Tone is often misunderstood in emails and this sentence can be read wrong too easily. What do you think?

Instead, I suggest that cold callers read this posting that provides 4 tips for cold calling from an inside sales rep that’s living it every day.

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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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Please…something new

22 Mar

Enough already

An insides sales expert who I’ve known for almost 10 years and started blogging around the same time as me called me up recently. She said, “Don’t be offended by this but your blog is getting boring.”

I’m thinking, “Boring?!? It may not be as funny as Ken Sasser over at The Sales Wars but boring?” Alright, wait a second, let me give her a chance to explain what she means. So instead of saying what I was first thinking, I asked her why.

“Your blog is always about referrals. I get it, referrals are important. But does it always have to be about referrals? I know you have more things to say that readers will find interesting. How about writing something new?”

So I did a quick mental review of the blog and realized, “Hey, she’s right!” I’ve been so focused in building Inquisix and explaining how referrals from fellow salespeople are just as important as customer referrals that I got caught in a loop. Time to get out of that! So I’m working on some new posts that will discuss my thoughts on other parts of the sales cycle. And maybe Trish will start reading my blog again instead of just skimming titles!

As a closing, let me point you to one my favorite posts from Rick Roberge about not getting emotionally involved. I think I passed that test!

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Recession Proof Marketing

13 Mar

After reading Joanne’s post yesterday about recession proof selling, I saw this posting about recession proof marketing. Uh oh, it looks like almost everyone is agreeing we’re headed into a recession. (Unless you’re part of the tech industry in Boston, but I digress.)

Brian and Joanne both agree that one of the key areas to focus when economic times are tough is lead generation. Joanne gives her 5 tips for salespeople to improve lead generation through referrals. Brian tells marketers to, “…direct their budgets away from traditional awareness building campaigns that quickly eat up budget and instead expand and optimize lead generation programs that bring measurable results.” And he points to an IDC study that says that 80% of marketing expenditures on lead generation and collateral are wasted because the leads are ignored by sales people.

The Marketing department in a recession needs to focus on those tasks that generate valuable leads for the sales reps. So valuable that these leads are equal in value to the sales rep’s own lead generation through referrals.

Actually, marketing’s lead generation programs should be doing that even when times are booming!

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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.

Sleep "Marketing"

7 Mar

Is worrying about sales keeping you awake at night? Don’t sleep walk, instead get a good night sleep and market while you’re catching up on those zzz’s. So says business coach C.J. Hayden on the EyesOnSales blog. While she’s suggesting how independent consultants market while they sleep, her tips are applicable to sales reps & business owners, too.

sleepingsheep

What I love is that she talks about getting referrals from people OTHER than clients. Everyone (see my last blog post) talks about how important it is to get client referrals.

But C.J. says, “Instead of spending all your time trying to build relationships directly with prospective clients, focus some of your efforts on getting to know people who could be reliable referral sources. Anyone who shares your target market is a candidate to refer clients to you……. The best potential referral sources are those whose services are complementary but not competitive.”

I agree!

Amen, C.J. and pleasant dreams!

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Pay for Relationships?

29 Feb

With the rise of various social networking sites like LinkedIn and Facebook, the promise of easy and immediate connections seems realized. I connect to you, you connect to them and since I can see that connection, I want to get connected to them, too. Bingo, I have a prospect! The problem is that it’s too easy and therefore not really that valuable for business networking.

The names of my contacts are not valuable – there a lots of places where someone else can find those names – JigSaw, LinkedIn, Hoovers, Spoke, the Yellow Pages, industry trade organizations to name a few. What’s valuable is my relationship to them. I’ve earned that relationship and it’s valuable.

Jay Deragon, in his The Relationship Economy blog, posted recently about whether Relationships are for $ale. He argues that, “You don’t sell relationships you build and earn them.” I’d suggest that you can’t buy relationships, either. Certainly not valuable ones.

Jay continues to say, “Sales techniques have changed over time to meet the ever increasing demands from informed customers. It has become imperative in today’s business environment to gain the trust of prospects and customers by first focusing on building relationships based on common affinities and objectives.”

And thus easy access to names can’t be the easy way to generate sales.

So if that’s not the easy way, then what is? As Jay points out, “People aren’t for sale (although many act as if they are) and neither are their relationships.” Valuable relationships are not put up on the web for all to see. Rather, they’re kept secure and hidden behind walls and only let out when there’s a very good reason.

What’s a good reason to let a valuable relationship be known? When you meet another sales rep you believe can add value to your customer. And by adding value to your customer, you’ve added value and trust to your relationship with that customer. You won’t sell that relationship because if your customer finds out, your trust is lost. But you have built a new relationship with that sales rep that translates to them introducing you to one of their customers. And then they gain value, too.

That’s what Inquisix is all about – we keep your RELATIONSHIP with contacts safe and hidden while introducing you to like-minded sales people who understand that relationships are earned, not sold or bought. Who agrees with me?

Happy Selling!

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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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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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Inquisix Networking Night SUCCESS

1 Feb

You know those days (no, those nights) leading up to the big presentation? I mean the BIG presentation, the one you’ve spent a year working up to? You’ve been planning the presentation, you’re looking forward to it, you’ve been role-playing what the other party is going to say, you’re prepping your team members on what to expect. And then it’s show-time. That’s how I felt walking into the room Tuesday night.

The setting was perfect – leather chairs, white linen table cloths and bookshelves lining the walls. Just the theme we want our website to convey – the members-only club where business is conducted over a handshake.

What a great turnout – it was standing room only. Thank you everyone who attended!

We started the night with some networking and introductions. For Dave and I, who’ve been talking and emailing with beta members, it was great to put member faces to names. Then Rick Roberge stood up and spoke about why giving referrals is better than exchanging referrals and both are better than asking for referrals. No real surprise here, Rick was preaching to the choir!

Then it was our turn to walk through the Inquisix solution and answer questions. Did we have a scripted demo? Of course but as it is the members who provide the content, I opened the discussion with, “What do you like, dislike, find confusing or think we missed the boat on?” Again, thank you members for your participation! The discussion was lively, it was informative and it was valuable. The members that had already used Inquisix to exchange referrals were leading the charge and helping us explain to the other members the how’s and why’s on getting started – upload your contacts, search for prospective customers, make referral requests and network with members with matches.

The unanimous decision – “The more you put into Inquisix the more you get out and it’s worth it!”

Presentations like this are why I’m in sales. Wow, what an endorphin kick to feel the energy of a group of people all arriving at the same decision by the end of the night! They are ready to embrace the Inquisix way of exchanging referrals and bring their sales colleagues into the fold, too.

Happy Selling!

NetworkingNight1-a NetworkingNight2 NetworkingNight3

left to right –

Inquisix Chief Sales Officer Michael Kreppein, Sales Coach Rick Roberge, Members Jim Glynn, Mark Tremblay, Andrew Adams, Bill Perrier, Mike Sachleben and Dan Wilcox

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