We all know the importance of prospecting for our business...but this article from sales trainer Wendy Weiss really shows you the importance of consistent prospecting. There's a big difference between the two!
There's a well known rule in sales (and in business) called Pareto's law. It's also known as the 80/20 rule. This is the way it works:
·You will get 80% of your sales revenue from 20% of your customers
·20% of your sales team will bring in 80% of your sales revenue
·80% of your sales team will bring in the remaining 20% of the sales revenue
The rule is true in business as well:
·80% of productivity will come from 20% of the employees
·80% of problems will come from 20% of customers
·And so on...
Pareto's law applies to prospecting as well. If you are brand new to sales and needing to build your pipeline, why then, you should be spending 80% of your time prospecting. Once you have a full sales funnel (and if you've done this consistently for 3-6 months, you should) then the equation flips. After that you need to be spending 20% of your time prospecting.
The problem is, of course, that most new sales people or business owners don't spend that 80% of time up front to build their sales funnel. And then they don't spend that 20% of time consistently ensuring their funnel stays full. That is why so many sales professionals, entrepreneurs and business owners struggle. That's why so many experience that 'boom & bust' cycle. They have no business in the pipeline so they panic and frantically start prospecting. They get a few new customers, feel safe again and stop. Then those projects are done and there's nothing in the pipeline...so guess what? They panic and start frantically prospecting again.
The key to never, ever having to experience 'boom and bust' is to prospect consistently, every day, no matter what.
There are many ways to build a sales funnel. While the world certainly knows that I am a great advocate of cold calling, networking, referral selling, and social media are also excellent tools to build a pipeline. (I do, however, feel compelled to point out that where ever one finds a lead, whether through networking, or referrals or social media, at some point one will need to speak with that prospect on the telephone.)
The important point is that no matter what else is going on with you or in your business you take the time to look for new business every single day.
Learn more from cold calling expert Wendy Weiss at www.wendyweiss.com or email her at wendy@wendyweiss.com
Showing posts with label prospecting. Show all posts
Showing posts with label prospecting. Show all posts
Friday, November 12, 2010
Wednesday, September 22, 2010
Are You Struggling to Make Appointments with Prospects?
The first part of the sales process often takes place over the phone - and this makes it easy for lots of mistakes or misunderstandings to derail your sales. Today sales trainer Jim Klein shares some prospecting tips that will help you stay strong on the phone - so you can get that meeting and make the sale!
Prospecting Tip #1: Prospect Daily
Sales prospecting is like eating. If you don't do it every day you'll die. With prospecting you won't actually cease to exist, however, your business will.
Professional salespeople prospect every day. It's important to block off specific times on your calendar for prospecting activities such as phone calling and mailing.
Treat your prospecting time the same way you would any other appointment, otherwise it will never get done.
Get focused on your prospecting activities by closing your office door and having messages taken for incoming calls until your prospecting time is up. I've found the best time to prospect is first thing in the morning. You're fresh and it gets the most important task in the sales process done first.
Prospecting Tip #2: Become a Specialist
This is the age of specialization. People want to do business with people who specialize in their particular problem. You wouldn't go to a foot doctor to have a heart bypass. And you wouldn't go to a criminal lawyer if you need to set up a corporation.
What is your specialty? Find one and use it in all your prospecting activities. If you don't know what it is ask your past and current clients why they bought from you. They'll give you some insight in to your specialty.
Then use it in all your promotional pieces. Advertise it every where. Put it on your business card. Use it to attract the kind of prospects you're looking to work with.
Prospecting Tip #3: Use a Script
Don't sell 'from the hip'. There's only one thing worse than listening to a salesperson read a script over the phone and that's listening to one without a script. It's important to not only have a script but to practice it until it flows from your lips.
You should know the script word for word without reading it. Don't read it when you're talking to a prospect, however, keep it in front of you to refer back to when you get off the track. Keep refining and making your script better and more powerful. After all it is the life blood of your sales business.
Prospecting Tip #4: Sell the Benefits of Meeting With You
Many salespeople want to tell the prospect how great their company is or how great they are. People don't care about you. People want to know what's in it for them. So make sure you include in your script the benefits the prospect will gain by meeting with you personally.
Make a list of the features of your product or service and then list the benefits of each of those features. If you need some help with this your past and current clients can be a great help. The best way to get the appointment is to show them the benefits they will receive by meeting with you.
Prospecting Tip #5: Don't Try to Sell Over the Phone
The purpose of prospecting is to get face to face with the prospect so you can qualify them and sell them your product or service. That's all. Don't try to sell your product or service over the phone. The main focus of sales prospecting is to sell the appointment, so concentrate on that outcome.
I know there are salespeople who are only selling over the phone, however, that's a subject for a different article.
Using these prospecting tips can send you on your way to having a calendar filled with appointments that lead to sales. Ignoring these sales tips can leave you with a lot more time to prospect. The choice is yours.
Jim Klein helps sales people fine tune the sales process so they can confidently close more sales and create long term relationships. Get free sales training by subscribing to our free newsletter "The Sales Advisor".
Prospecting Tip #1: Prospect Daily
Sales prospecting is like eating. If you don't do it every day you'll die. With prospecting you won't actually cease to exist, however, your business will.
Professional salespeople prospect every day. It's important to block off specific times on your calendar for prospecting activities such as phone calling and mailing.
Treat your prospecting time the same way you would any other appointment, otherwise it will never get done.
Get focused on your prospecting activities by closing your office door and having messages taken for incoming calls until your prospecting time is up. I've found the best time to prospect is first thing in the morning. You're fresh and it gets the most important task in the sales process done first.
Prospecting Tip #2: Become a Specialist
This is the age of specialization. People want to do business with people who specialize in their particular problem. You wouldn't go to a foot doctor to have a heart bypass. And you wouldn't go to a criminal lawyer if you need to set up a corporation.
What is your specialty? Find one and use it in all your prospecting activities. If you don't know what it is ask your past and current clients why they bought from you. They'll give you some insight in to your specialty.
Then use it in all your promotional pieces. Advertise it every where. Put it on your business card. Use it to attract the kind of prospects you're looking to work with.
Prospecting Tip #3: Use a Script
Don't sell 'from the hip'. There's only one thing worse than listening to a salesperson read a script over the phone and that's listening to one without a script. It's important to not only have a script but to practice it until it flows from your lips.
You should know the script word for word without reading it. Don't read it when you're talking to a prospect, however, keep it in front of you to refer back to when you get off the track. Keep refining and making your script better and more powerful. After all it is the life blood of your sales business.
Prospecting Tip #4: Sell the Benefits of Meeting With You
Many salespeople want to tell the prospect how great their company is or how great they are. People don't care about you. People want to know what's in it for them. So make sure you include in your script the benefits the prospect will gain by meeting with you personally.
Make a list of the features of your product or service and then list the benefits of each of those features. If you need some help with this your past and current clients can be a great help. The best way to get the appointment is to show them the benefits they will receive by meeting with you.
Prospecting Tip #5: Don't Try to Sell Over the Phone
The purpose of prospecting is to get face to face with the prospect so you can qualify them and sell them your product or service. That's all. Don't try to sell your product or service over the phone. The main focus of sales prospecting is to sell the appointment, so concentrate on that outcome.
I know there are salespeople who are only selling over the phone, however, that's a subject for a different article.
Using these prospecting tips can send you on your way to having a calendar filled with appointments that lead to sales. Ignoring these sales tips can leave you with a lot more time to prospect. The choice is yours.
Jim Klein helps sales people fine tune the sales process so they can confidently close more sales and create long term relationships. Get free sales training by subscribing to our free newsletter "The Sales Advisor".
Wednesday, September 16, 2009
Target Your Prospecting
A common mistake made by even the most seasoned salesperson is to use a shotgun approach when prospecting; in other words, trying to target dozens or hundreds of different companies. According to sales trainer Kelley Robertson, "This massive blitz works if you cold call for a living and need a large number of prospects in your pipeline. However, in most cases, this approach is not as effective as it used to be, especially in today's challenging economy."
"A more effective way to prospect is to create a list of 100 companies that could benefit from your product, service, or solution," continues Robertson. "Once this is completed narrow your list to a maximum of two dozen organizations and focus your prospecting efforts on that short list."
"The key to using this approach is to carefully research each company and learn as much about them as you can. Find out who the key decision makers are and the names of their executive assistants. Then use a variety of methods to make contact with your prospect including: email, voice mail, fax, snail mail, and face-to-face contact at conferences, trade shows, and networking events."
"During each contact, demonstrate your expertise and knowledge of their industry, potential business challenges and areas of opportunity. Give them insights to improve their business or solve a particular challenge. Do this on a regular basis: every 3-5 business days for the first two-three weeks, weekly for the next month, every other week for the following two months, and at least monthly after that. If you discover that a particular company has no interest or need for your offering strike them off your list and replace them with another company."
"This is a challenging strategy and it requires planning before you execute," says Robertson. "However, you will the results are typically much better because you quickly differentiate yourself from your competition."
As President of The Robertson Training Group, Kelley has helped thousands of professionals improve their business results with his engaging approach to sales training and speaking. Learn more at www.robertsontraininggroup.com
"A more effective way to prospect is to create a list of 100 companies that could benefit from your product, service, or solution," continues Robertson. "Once this is completed narrow your list to a maximum of two dozen organizations and focus your prospecting efforts on that short list."
"The key to using this approach is to carefully research each company and learn as much about them as you can. Find out who the key decision makers are and the names of their executive assistants. Then use a variety of methods to make contact with your prospect including: email, voice mail, fax, snail mail, and face-to-face contact at conferences, trade shows, and networking events."
"During each contact, demonstrate your expertise and knowledge of their industry, potential business challenges and areas of opportunity. Give them insights to improve their business or solve a particular challenge. Do this on a regular basis: every 3-5 business days for the first two-three weeks, weekly for the next month, every other week for the following two months, and at least monthly after that. If you discover that a particular company has no interest or need for your offering strike them off your list and replace them with another company."
"This is a challenging strategy and it requires planning before you execute," says Robertson. "However, you will the results are typically much better because you quickly differentiate yourself from your competition."
As President of The Robertson Training Group, Kelley has helped thousands of professionals improve their business results with his engaging approach to sales training and speaking. Learn more at www.robertsontraininggroup.com
Tuesday, April 21, 2009
Five Simple Things You Can Do Every Day to Improve Your Bottom Line
Prospecting is the most essential part of building business. Yes, client retention and customer service are important, but you can't do those things without having the clients in the first place!
According to sales trainer Colleen Francis, "The key to successful prospecting is to make it a daily habit. Never let a day go by without doing at least one thing to generate new business. Recognize that each time you do this; you're putting new potential leads into your funnel. With time, your commitment to that one simple act will bring great results, including a boost to your bottom line."
Let's look a bit closer at those daily prospecting habits. Here are five simple things you can do every day to refine your skills.
1. Pick up the phone. One of your most powerful selling tools is sitting right there on your desk. Pick up the phone and make a new call to a new potential lead. Successful people who are in the top ten percent of any organization will tell you that this habit is vital for finding new leads and turning them into customers. Not every call is going to result in a new sale. And sales are not the only reason why you need to pick up that phone every day. Talking to people builds your confidence and teaches you to fine-tune your listening skills. Both of those will help you go a long way to meeting your sales goals.
2. Go to a networking event. Whether it's a sales seminar or a charity golf tournament, a networking event is your opportunity to show your face in the community and to meet new people. To be clear, no one is there to buy anything, so no pitching! People at networking events are most definitely keen on making new connections...and new connections can lead to some great relationships. Make time for events in your business calendar, and always be on the lookout for new ones by subscribing to email distribution lists for social events in your area or by joining business- or trade-related groups on social networking sites like Facebook or LinkedIn.
3. Send an email. The third thing you can do to hone your prospecting skills is to send an email to a prospective customer to follow-up on an earlier discussion. It costs you nothing but a few minutes of your time and the mere act of reaching out to someone helps to cement the relationship you have with that person. Don't fall victim to the "out of sight, out of mind" principle. Stay on your prospect's radar. Remember that for every 30 days your prospects goes without hearing from you, they lose 10% of their potential value to you.
4. Rekindle. Maybe there's a reason why that's happened. A quick note or phone call is often all it takes to rekindle that business relationship you once had with a client and that can result in some pretty exciting leads. Reviving lost customers can be a profitable way to generate business now.
5. Call a satisfied customer. Call a customer that you know who is really happy with your services. You can call just to say hello, you can share with them a business-related tip, a link to a great news article you just finished reading, or you can even take the opportunity to ask for a referral or a testimonial. Satisfied customers, especially those that you have recently started to work with, have already seen the benefits of the product you sell or the service you provide. Staying in touch and remaining a familiar face is how you reinforce that positive experience.
Colleen Francis, Sales Expert, is Founder and President of Engage Selling Solutions. Armed with skills developed from years of experience, Colleen helps clients realize immediate results, achieve lasting success and permanently raise their bottom line. Learn more at www.EngageSelling.com
According to sales trainer Colleen Francis, "The key to successful prospecting is to make it a daily habit. Never let a day go by without doing at least one thing to generate new business. Recognize that each time you do this; you're putting new potential leads into your funnel. With time, your commitment to that one simple act will bring great results, including a boost to your bottom line."
Let's look a bit closer at those daily prospecting habits. Here are five simple things you can do every day to refine your skills.
1. Pick up the phone. One of your most powerful selling tools is sitting right there on your desk. Pick up the phone and make a new call to a new potential lead. Successful people who are in the top ten percent of any organization will tell you that this habit is vital for finding new leads and turning them into customers. Not every call is going to result in a new sale. And sales are not the only reason why you need to pick up that phone every day. Talking to people builds your confidence and teaches you to fine-tune your listening skills. Both of those will help you go a long way to meeting your sales goals.
2. Go to a networking event. Whether it's a sales seminar or a charity golf tournament, a networking event is your opportunity to show your face in the community and to meet new people. To be clear, no one is there to buy anything, so no pitching! People at networking events are most definitely keen on making new connections...and new connections can lead to some great relationships. Make time for events in your business calendar, and always be on the lookout for new ones by subscribing to email distribution lists for social events in your area or by joining business- or trade-related groups on social networking sites like Facebook or LinkedIn.
3. Send an email. The third thing you can do to hone your prospecting skills is to send an email to a prospective customer to follow-up on an earlier discussion. It costs you nothing but a few minutes of your time and the mere act of reaching out to someone helps to cement the relationship you have with that person. Don't fall victim to the "out of sight, out of mind" principle. Stay on your prospect's radar. Remember that for every 30 days your prospects goes without hearing from you, they lose 10% of their potential value to you.
4. Rekindle. Maybe there's a reason why that's happened. A quick note or phone call is often all it takes to rekindle that business relationship you once had with a client and that can result in some pretty exciting leads. Reviving lost customers can be a profitable way to generate business now.
5. Call a satisfied customer. Call a customer that you know who is really happy with your services. You can call just to say hello, you can share with them a business-related tip, a link to a great news article you just finished reading, or you can even take the opportunity to ask for a referral or a testimonial. Satisfied customers, especially those that you have recently started to work with, have already seen the benefits of the product you sell or the service you provide. Staying in touch and remaining a familiar face is how you reinforce that positive experience.
Colleen Francis, Sales Expert, is Founder and President of Engage Selling Solutions. Armed with skills developed from years of experience, Colleen helps clients realize immediate results, achieve lasting success and permanently raise their bottom line. Learn more at www.EngageSelling.com
Friday, February 20, 2009
Are you forgetting your Bread and Butter Customers?
Sales Diva Kim Duke's grandmother was a young woman growing up during The Great Depression. She used to tell Kim, "You always need to have bread and butter money." Kim has been selling successful for over 20 years, on a nearly 100% commission basis by applying her grandmother's advice: she always takes care of her "bread and butter" customers.
So who are your "bread and butter" customers? They are the steady, consistent customers who buy from you regularly --Refer you on a consistent basis --Typically give you small to medium sized orders (which often turn bigger) --Pay within 30-45 days
Have you forgotten about your bread and butter customers?
"The bread and butter customers are typically the first ones to be forgotten and taken for granted during lush economic times," says Duke. "When the ball drops and your big, fat clients fall over and wither away into raisins you are left with nothing but bills and a dead database of previous customers you haven't connected with in a long time."
"If you've been smart, your bread and butter customers will still be there," says Duke. "You haven't forgotten about them while you were also attracting larger business. The bread and butter customers are still spending money with you every month - they are referring other customers to you and your cash flow is looking quite fine. But, if you're struggling with sales right now - it's because you haven't been treating your bread and butter customers properly."
How do you get your bread and butter back on the table?
Kim says:
1. Make A List.
Pull a report of all the customers who've purchased from you in the past 3 years.
2. Look at the Top 30% of those customers and get on the phone and meet them if possible for lunch or coffee. Or have a phone meeting instead.
3. Ask Them What They Need Help With. What their challenges are. Who you can connect them with.
4. Follow-up. Send the thank you cards, get the proposal together, ship the product - do what it takes to regain their trust.
5. KEEP IN TOUCH WITH THEM. Bread and Butter customers need to be kept informed - so get your newsletter or ezine together, blog, Twitter, use direct mail - don't fall off the table again. (You probably won't get another chance)
Kim Duke is an unconventional, sassy and savvy sales expert who shows women small biz owners and entrepreneurs how to increase sales in a fun, easy, stress-free way! Learn more and sign up for her free e-zine at www.salesdivas.com
So who are your "bread and butter" customers? They are the steady, consistent customers who buy from you regularly --Refer you on a consistent basis --Typically give you small to medium sized orders (which often turn bigger) --Pay within 30-45 days
Have you forgotten about your bread and butter customers?
"The bread and butter customers are typically the first ones to be forgotten and taken for granted during lush economic times," says Duke. "When the ball drops and your big, fat clients fall over and wither away into raisins you are left with nothing but bills and a dead database of previous customers you haven't connected with in a long time."
"If you've been smart, your bread and butter customers will still be there," says Duke. "You haven't forgotten about them while you were also attracting larger business. The bread and butter customers are still spending money with you every month - they are referring other customers to you and your cash flow is looking quite fine. But, if you're struggling with sales right now - it's because you haven't been treating your bread and butter customers properly."
How do you get your bread and butter back on the table?
Kim says:
1. Make A List.
Pull a report of all the customers who've purchased from you in the past 3 years.
2. Look at the Top 30% of those customers and get on the phone and meet them if possible for lunch or coffee. Or have a phone meeting instead.
3. Ask Them What They Need Help With. What their challenges are. Who you can connect them with.
4. Follow-up. Send the thank you cards, get the proposal together, ship the product - do what it takes to regain their trust.
5. KEEP IN TOUCH WITH THEM. Bread and Butter customers need to be kept informed - so get your newsletter or ezine together, blog, Twitter, use direct mail - don't fall off the table again. (You probably won't get another chance)
Kim Duke is an unconventional, sassy and savvy sales expert who shows women small biz owners and entrepreneurs how to increase sales in a fun, easy, stress-free way! Learn more and sign up for her free e-zine at www.salesdivas.com
Thursday, February 19, 2009
What's hot, what's not?
If you're looking for someone who knows what works and what doesn't work in sales, then trainer Skip Miller is your guy. He recently put out a "Hot or Not" list that makes it clear what you should be doing - and what should be retired.
Not
Face to face sales calls. Seeing the same people just to ask them, "How's it going?." These can also be called doughnut drops, or fancy doughnut drops. If you are going to see a customer face to face, it better be with someone who is ready to spend money.
Hot
Qualification skills. Getting 5 or 6 out of 10 from 2 out of 10. You have to qualify over the phone, over the web, over the Internet. Qualification skills aren't just for the new or inexperienced salespeople, they're also important for the major account salespeople.
Not
Products, new products, and better products. If you are a company that is going to dedicate more than 35% of your company's sales kick-off meeting to products, you are doing it all wrong. It's about the value your customer will get from your solution.
Hot
Financial and ROI questioning skills. Have you read "Understanding Financial Reports" from Merrill Lynch? Google it and you'll be surprised how easy you can you can turn all that financial "stuff" into benefit selling.
Not
Prospect - Qualify - Demo - Propose. It is absolutely amazing the number of companies still selling demos and proposals. Please get a clue. The goal is not to sell a proposal or a demo. "Once we get them in the demo, they will see the value." You're dreaming, right?
Hot
Having the prospect qualify themselves. Come up with a questionnaire or a visual buy cycle map that walks the prospect through an evaluation of your product and service. Think of homework assignments your prospect must do before you give them a demonstration or a proposal. In these tough times you have to improve the quality of the pipeline, not just the quantity.
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
Not
Face to face sales calls. Seeing the same people just to ask them, "How's it going?." These can also be called doughnut drops, or fancy doughnut drops. If you are going to see a customer face to face, it better be with someone who is ready to spend money.
Hot
Qualification skills. Getting 5 or 6 out of 10 from 2 out of 10. You have to qualify over the phone, over the web, over the Internet. Qualification skills aren't just for the new or inexperienced salespeople, they're also important for the major account salespeople.
Not
Products, new products, and better products. If you are a company that is going to dedicate more than 35% of your company's sales kick-off meeting to products, you are doing it all wrong. It's about the value your customer will get from your solution.
Hot
Financial and ROI questioning skills. Have you read "Understanding Financial Reports" from Merrill Lynch? Google it and you'll be surprised how easy you can you can turn all that financial "stuff" into benefit selling.
Not
Prospect - Qualify - Demo - Propose. It is absolutely amazing the number of companies still selling demos and proposals. Please get a clue. The goal is not to sell a proposal or a demo. "Once we get them in the demo, they will see the value." You're dreaming, right?
Hot
Having the prospect qualify themselves. Come up with a questionnaire or a visual buy cycle map that walks the prospect through an evaluation of your product and service. Think of homework assignments your prospect must do before you give them a demonstration or a proposal. In these tough times you have to improve the quality of the pipeline, not just the quantity.
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
Friday, January 2, 2009
Who Seduced Your Prospect While You Fell Off the Grid?
Happy New Year!
If you've slipped at all in your prospecting and follow-up with clients over the holidays, nothing is a better motivator to get back on track than a fresh start. While you're getting back on track, maybe a little patience would be a good resolution as well! Sales trainer Adrian Miller has some excellent advice for salespeople frustrated with a long, drawn-out sales cycle. Practice patience, and you'll win the race!
"Patience is a virtue. Sure it's an age-old adage, but it's still very relevant when it comes to managing prospects," says Miller. "Too many of us, especially when times are challenging, tend to lose our cool and give up on relationships before they have reached fruition. Prospecting cycles can often be long and tedious. The key is keeping the proverbial slowpokes on the grid so your competition doesn't take them away. So, cool your jets and read these important tips on maintaining your prospects while they inch forward towards buying from you."
Be Realistic
In a perfect world, you'd make a presentation, and prospects would decide right on the spot that they immediately must have what you're offering. Unfortunately, little things like budgets, cutbacks, management approvals, and expenditure planning seem to get in the way.
Often times, your prospects might simply have their hands tied when it comes to buying anything right now, but that doesn't mean that they won't when the time is right. Find out what is preventing a decision from being made and when a purchase is likely to happen. Be patient and understanding, and you'll probably be rewarded with a sale.
Add Value While Biding Your Time
Ok. You've made your presentation, and there's definite interest but no movement yet. That doesn't mean that you should sit back and wait for them to call you. On the contrary - this is the time to add value in a relationship with a prospect.
Start thinking of ways that you can stay in the forefront of their thoughts without looking like a pushy salesperson. It's all about providing those little extras that show that you care. What kinds of little extras? Well, start with keeping them connected with a regular newsletter and email blasts that you send to your clients. Send them industry publication articles on topics that might be of particular interest or invite them to an upcoming trade event or networking get-together. You might just provide them with a useful new business strategy or a valuable contact through your efforts.
Hang in There, but Play It Smart
Prospecting cycles can sometimes drag on for years and then result in valuable business. Other times, prospects can keep you hanging without any intention of buying. It's your job to determine who has real potential and who is just stringing you along. Sometimes, it's hard to tell, and certainly, the best way to determine their viability is to ask lots of questions and keep them close during the process.
Finally, the worst thing you can do is to simply give up and let them fall off the grid without knowing if there was true potential or not. What you don't know will certainly be found out by your competition, who will willingly take the business from you!
Adrian Miller is the President of Adrian Miller Sales Training, a training and business consulting firm that she founded in 1989, delivering sales-level performance training and executive-level business development consulting for your unique business. A nationally recognized lecturer, she is also a sought-after conference speaker, and an accomplished author of "The Blatant Truth: 50 Ways to Sales Success".
If you've slipped at all in your prospecting and follow-up with clients over the holidays, nothing is a better motivator to get back on track than a fresh start. While you're getting back on track, maybe a little patience would be a good resolution as well! Sales trainer Adrian Miller has some excellent advice for salespeople frustrated with a long, drawn-out sales cycle. Practice patience, and you'll win the race!
"Patience is a virtue. Sure it's an age-old adage, but it's still very relevant when it comes to managing prospects," says Miller. "Too many of us, especially when times are challenging, tend to lose our cool and give up on relationships before they have reached fruition. Prospecting cycles can often be long and tedious. The key is keeping the proverbial slowpokes on the grid so your competition doesn't take them away. So, cool your jets and read these important tips on maintaining your prospects while they inch forward towards buying from you."
Be Realistic
In a perfect world, you'd make a presentation, and prospects would decide right on the spot that they immediately must have what you're offering. Unfortunately, little things like budgets, cutbacks, management approvals, and expenditure planning seem to get in the way.
Often times, your prospects might simply have their hands tied when it comes to buying anything right now, but that doesn't mean that they won't when the time is right. Find out what is preventing a decision from being made and when a purchase is likely to happen. Be patient and understanding, and you'll probably be rewarded with a sale.
Add Value While Biding Your Time
Ok. You've made your presentation, and there's definite interest but no movement yet. That doesn't mean that you should sit back and wait for them to call you. On the contrary - this is the time to add value in a relationship with a prospect.
Start thinking of ways that you can stay in the forefront of their thoughts without looking like a pushy salesperson. It's all about providing those little extras that show that you care. What kinds of little extras? Well, start with keeping them connected with a regular newsletter and email blasts that you send to your clients. Send them industry publication articles on topics that might be of particular interest or invite them to an upcoming trade event or networking get-together. You might just provide them with a useful new business strategy or a valuable contact through your efforts.
Hang in There, but Play It Smart
Prospecting cycles can sometimes drag on for years and then result in valuable business. Other times, prospects can keep you hanging without any intention of buying. It's your job to determine who has real potential and who is just stringing you along. Sometimes, it's hard to tell, and certainly, the best way to determine their viability is to ask lots of questions and keep them close during the process.
Finally, the worst thing you can do is to simply give up and let them fall off the grid without knowing if there was true potential or not. What you don't know will certainly be found out by your competition, who will willingly take the business from you!
Adrian Miller is the President of Adrian Miller Sales Training, a training and business consulting firm that she founded in 1989, delivering sales-level performance training and executive-level business development consulting for your unique business. A nationally recognized lecturer, she is also a sought-after conference speaker, and an accomplished author of "The Blatant Truth: 50 Ways to Sales Success".
Tuesday, December 23, 2008
Escape the End-of-Year Trap
Are you caught in the end-of-the-year trap? According to sales trainer Colleen Francis, that's when "you've got pressure from your manager to close deals NOW, while you're getting the put off from clients who want to call you back after the holidays, next year."
"The end of the year is a time when both you and buyers have fires burning bright and often those priorities conflict with each other," continues Francis. "Many times we find that buyers use other priorities as an excuse to put buying decisions on hold. This can be especially bad if your clients tend to be publicly traded companies with a budget to hit by the end of the year."
"We're too busy now!", and "Call me back next year" are two of the most frustrating stalling tactics you'll ever hear in sales.
So what can you do to stop your prospects from stalling - and put a stop to the end of the year trap? Here are 10 suggestions from Francis:
1. Keep your pipeline full. If you have a pipeline with at least three to four times as many prospects as you need in order to meet your goals, you (and your manager!) will feel far less pressure. When you feel less pressure, you'll close more deals. Ironic? Yes. True? You bet. Most closing problems are prospecting problems. In other words you are not closing the sales you need because you don't have enough prospects to sell to.
2. Have a "closing blitz day" at the office or, better yet, arrange a week or month long contest to see who can close the most deals.
3. Reach out to customers personally, on the phone or face-to-face this month. Emails are easy to ignore. Meetings where you are learning more about their business and presenting creative solutions to their problems are not. While you're at it, take your manager with you. You send the message that your client and prospects are valuable to you if are willing to make the investment in bringing a senior level manager to meet them.
4. Make the customer be specific when they stall. "Thanks for letting me know that next year is better for you. What date would you want to place the order?" Or: "I would be happy to call you back next month. Would Tuesday, July 11th at 10:00 a.m. work for you?"
5. Offer alternatives. Once when I was selling software, we offered to split an invoice in two, charging the customer for the software in March and the maintenance in April. Because the payments were split, the order fit better into her quarterly budgets, and the customer was able to make the deal right away. Can you think of a creative way to help your customers say yes right now?
These are just a few ideas you can use to continue closing business through the remainder of the holiday season. We'll be back tomorrow with a few more to keep you busy!
Colleen Francis, Sales Expert, is Founder and President of Engage Selling Solutions. Start improving your results today with Engage's online Newsletter Engaging Ideas and a FREE 10 day intensive sales eCourse: www.EngagingIdeasOnline.com
"The end of the year is a time when both you and buyers have fires burning bright and often those priorities conflict with each other," continues Francis. "Many times we find that buyers use other priorities as an excuse to put buying decisions on hold. This can be especially bad if your clients tend to be publicly traded companies with a budget to hit by the end of the year."
"We're too busy now!", and "Call me back next year" are two of the most frustrating stalling tactics you'll ever hear in sales.
So what can you do to stop your prospects from stalling - and put a stop to the end of the year trap? Here are 10 suggestions from Francis:
1. Keep your pipeline full. If you have a pipeline with at least three to four times as many prospects as you need in order to meet your goals, you (and your manager!) will feel far less pressure. When you feel less pressure, you'll close more deals. Ironic? Yes. True? You bet. Most closing problems are prospecting problems. In other words you are not closing the sales you need because you don't have enough prospects to sell to.
2. Have a "closing blitz day" at the office or, better yet, arrange a week or month long contest to see who can close the most deals.
3. Reach out to customers personally, on the phone or face-to-face this month. Emails are easy to ignore. Meetings where you are learning more about their business and presenting creative solutions to their problems are not. While you're at it, take your manager with you. You send the message that your client and prospects are valuable to you if are willing to make the investment in bringing a senior level manager to meet them.
4. Make the customer be specific when they stall. "Thanks for letting me know that next year is better for you. What date would you want to place the order?" Or: "I would be happy to call you back next month. Would Tuesday, July 11th at 10:00 a.m. work for you?"
5. Offer alternatives. Once when I was selling software, we offered to split an invoice in two, charging the customer for the software in March and the maintenance in April. Because the payments were split, the order fit better into her quarterly budgets, and the customer was able to make the deal right away. Can you think of a creative way to help your customers say yes right now?
These are just a few ideas you can use to continue closing business through the remainder of the holiday season. We'll be back tomorrow with a few more to keep you busy!
Colleen Francis, Sales Expert, is Founder and President of Engage Selling Solutions. Start improving your results today with Engage's online Newsletter Engaging Ideas and a FREE 10 day intensive sales eCourse: www.EngagingIdeasOnline.com
Wednesday, December 10, 2008
Beware of What You Send Before a Meeting
Sales trainers Jim Dunn and John Schumann recently relayed an interesting story in their weekly Whetstone Group newsletter. A rep secured an appointment with a prospect that would be a good fit for their products. When the prospect asked for some info before the meeting, Richard, the rep, sent over a thorough package with product spec sheets, a partial client list, company history, recent press releases, and more. Two days before the appointment the prospect called and said he had looked over the materials and didn't feel a meeting would be necessary, it wasn't a good fit.
Has this ever happened to you? If it has, read on for Dunn and Schumann's advice on how you can avoid this time-wasting situation.
"You may find this hard to believe, but often prospects are looking for a way not to meet with you," explain Dunn and Schumann. "We've all had meetings with salespeople that have proven to be disappointing and afterward said to ourselves, well, that was a waste of time. Wish I'd qualified them better before I let them come in. So, they want to see something first and often they're using what you send to disqualify you. Does this mean that they'll always find something they don't like? Of course not, but think of what Richard sent: specification sheets on products that might not be a fit; a client list that might not contain similar type companies or companies that were too small or a company history that someone could interpret as not having a good enough track record. You never can tell."
"Beware of what you send to prospects before you meet," Dunn and Schumann continue. "The ideal situation is not to send anything, to let your skills in asking questions and probing for the prospect's pain give them the desire to see you. But if you must send something, ask them what they want to see and find out why that's important. And, send a very minimum amount of information. In this case, less is better."
"Finally, tell them that you know they'll undoubtedly find something in the information that may not apply to their situation and that you hope they won't use that as a reason to have second thoughts about seeing you. You'll find that simple statement will make them think twice about finding something to disagree with."
Learn more about The Whetstone Group at www.whetstonegroup.com.
Has this ever happened to you? If it has, read on for Dunn and Schumann's advice on how you can avoid this time-wasting situation.
"You may find this hard to believe, but often prospects are looking for a way not to meet with you," explain Dunn and Schumann. "We've all had meetings with salespeople that have proven to be disappointing and afterward said to ourselves, well, that was a waste of time. Wish I'd qualified them better before I let them come in. So, they want to see something first and often they're using what you send to disqualify you. Does this mean that they'll always find something they don't like? Of course not, but think of what Richard sent: specification sheets on products that might not be a fit; a client list that might not contain similar type companies or companies that were too small or a company history that someone could interpret as not having a good enough track record. You never can tell."
"Beware of what you send to prospects before you meet," Dunn and Schumann continue. "The ideal situation is not to send anything, to let your skills in asking questions and probing for the prospect's pain give them the desire to see you. But if you must send something, ask them what they want to see and find out why that's important. And, send a very minimum amount of information. In this case, less is better."
"Finally, tell them that you know they'll undoubtedly find something in the information that may not apply to their situation and that you hope they won't use that as a reason to have second thoughts about seeing you. You'll find that simple statement will make them think twice about finding something to disagree with."
Learn more about The Whetstone Group at www.whetstonegroup.com.
Thursday, June 12, 2008
"But I'm Always Prospecting!"
I read a great post recently on Paul McCord's blog about how "busy" salespeople can be. This is the same guy who only reads email and answers phone calls at four specific times throughout the day (something I haven't been able to bring myself to do!), so I trust he knows what he's talking about when it comes to productivity.Here's his story:
"But I'm always prospecting." That was Rachel's response when we began talking about her failure to generate enough business to make the cut with her broker/dealer. Rachel is a relatively new salesperson who has been struggling for months and she and her manager have been trying to find a way to get her on track.
It didn't take long for the conversation to get around to her activities, in particular her prospecting activities. She was baffled by her lack of success because as she said, she was 'always prospecting.'
Rachel showed me a list of several hundred names and phone numbers she had on a call list - a few dozen had check marks beside them, even fewer were scratched through. She showed me the stacks of fliers and letters she had mailed out. She showed me a list of networking events she had attended over the past couple of months. She showed me a passel of follow-up emails she had sent out. She told me that her business card had been added to every corkboard in every restaurant, laundromat, and other business that had a board to display customers' cards.
Rachel had been busy; there was no doubt about that. The problem was although she had been busy, she hadn't been prospecting. In reality she was finding ways not to prospect. She engaged in a great deal of activity, but the activity she engaged in wasn't the activity that would produce business; instead, it was the activity that made her feel good, made her feel productive, allowed her to convince herself that she was being extremely active.
We salespeople tend to focus on activity - after all, activity is what gets us in the door, gets us the business we must have in order to succeed. But activity alone is fruitless. Activity for activity's sake is just as sure a way to failure as inactivity.
Investing time and energy in the wrong activities has killed as many sales careers as inactivity has. As salespeople we have three very basic duties - finding and connecting with quality prospects, working with those prospects to help them satisfy needs or wants, and insuring that they are taken care of during and after the sale. Everything else is busy work and busy work doesn't make a sale, doesn't generate income, and doesn't move us toward our sales or income goals.
Before you engage in any activity consider whether that activity is income producing or not. If it isn't directly producing income, does it really need to be done? If not, move on to an activity that will directly lead to a sale.
Author of "Creating a Million Dollar a Year Sales Income: Sales Success through Client Referrals," and "SuperStar Selling: 12 Keys to Becoming a Sales SuperStar," Paul McCord is president of McCord & Associates, a sales training and management-consulting firm.
Monday, March 10, 2008
Quote of the Week
"Let your hook always be cast; in the pool where you least expect it, there will be a fish." - Ovid, Roman Poet
These may be fancy words from an old-world poet, but they ring true in business today. The only way you'll be successful in sales is to be constantly prospecting and finding new ways to reach your customers. Attend a community event, create a business card that expresses your personality, or just hold the door open for someone juggling a tray of Starbucks. You'll be surprised what turns up in your net.
Do you have any stories of unlikely meetings or a method that helped you reach prospects in a new way? We'd love to hear them!
These may be fancy words from an old-world poet, but they ring true in business today. The only way you'll be successful in sales is to be constantly prospecting and finding new ways to reach your customers. Attend a community event, create a business card that expresses your personality, or just hold the door open for someone juggling a tray of Starbucks. You'll be surprised what turns up in your net.
Do you have any stories of unlikely meetings or a method that helped you reach prospects in a new way? We'd love to hear them!
Monday, January 21, 2008
Quote of the Week
"If your work is becoming uninteresting, so are you. Work is an inanimate thing and can be made lively and interesting only by injecting yourself into it. Your job is only as big as you are." -- George C. Hubbs
Sometimes the constant routine of cold-calling, prospecting, and e-mailing can get a little - dare we say it - boring. Think about it. How can you inject a little of "you" into your routine?
Sometimes the constant routine of cold-calling, prospecting, and e-mailing can get a little - dare we say it - boring. Think about it. How can you inject a little of "you" into your routine?
Wednesday, September 26, 2007
Begging is Not Attractive
Yet you do it every day without realizing. How often do you find yourself thanking someone for taking your call? Or, asking for just five minutes of a prospect's time? You may think you're being polite, but you're coming across as begging.
Sounding pathetic is one of the surest ways to ensure that your customer will lack confidence and respect for both you and your organization, says sales trainer Tim Connor. People buy when they are ready to buy, not when you need to sell. You'll project a lack of confidence when you say things like:
"What time is convenient for you?" Instead of, "Let's see if we can arrange a mutually beneficial time."
"We're the best in the business." Instead of, "Let's see if our product or service will solve your problem."
"When can you let me know your decision?" Instead of, "Let's set a time to discuss your decision."
"Can I call you in a few weeks to follow-up?" Instead of, "I'll call you in a few weeks to discuss your questions and further interest."
These are just a few of the ways you may be sending prospects the message that you lack credibility and confidence in your ability to perform. Incorporate Tim's suggestions into your sales dialogue and enjoy the respect that is sure to follow.
-- Tim Connor is CEO of SalesClubsofAmerica.com and a contributor to Top Dog Sales Secrets. He is a popular speaker, sales trainer and successful author. Visit his website at TimConnor.com
Sounding pathetic is one of the surest ways to ensure that your customer will lack confidence and respect for both you and your organization, says sales trainer Tim Connor. People buy when they are ready to buy, not when you need to sell. You'll project a lack of confidence when you say things like:
"What time is convenient for you?" Instead of, "Let's see if we can arrange a mutually beneficial time."
"We're the best in the business." Instead of, "Let's see if our product or service will solve your problem."
"When can you let me know your decision?" Instead of, "Let's set a time to discuss your decision."
"Can I call you in a few weeks to follow-up?" Instead of, "I'll call you in a few weeks to discuss your questions and further interest."
These are just a few of the ways you may be sending prospects the message that you lack credibility and confidence in your ability to perform. Incorporate Tim's suggestions into your sales dialogue and enjoy the respect that is sure to follow.
-- Tim Connor is CEO of SalesClubsofAmerica.com and a contributor to Top Dog Sales Secrets. He is a popular speaker, sales trainer and successful author. Visit his website at TimConnor.com
Tuesday, August 7, 2007
Cold Calling Demystified
What sales activity do you dread the most? If you're like most sales professionals, it's cold calling. Picking up the phone and talking with a perfect stranger (who has the power to reject you) can strike fear in the heart of even the most confident salesperson.
Fortunately, Wendy Weiss, "The Queen of Cold Calling" (and one of the featured authors in Top Dog Sales Secrets) has outlined 8 strategies to guarantee your cold calling success.
Cold Calling Strategy #1: Make telephone calls
No one will buy from you if they do not know of you, your company/products/services. Every sale has its own cycle. Depending on what you are selling, it could be a short cycle of a day or two, or it could be a long cycle of a year or two. Your call is your introduction and the start of your entire sales process. Without that initial prospecting call, you will not close any sales.
Check out the rest of Wendy's strategies at: 8 Strategies to Guarantee Cold Calling Success
Wendy Weiss is a former ballet dancer who set appointments for clients as her day job. She was so effective, one of her clients dubbed her the "Queen of Cold Calling." The title stuck. When injuries sidelined her dance career, Wendy transformed her day job into a full-time career as a sales trainer, coach and author. Her clients include ADP, Avon and Sprint.
Wendy's the real deal. She has a ton of free resources and terrific training programs on her site. Check it out at http://www.wendyweiss.com/ or e-mail her at wendy@wendyweiss.com
Fortunately, Wendy Weiss, "The Queen of Cold Calling" (and one of the featured authors in Top Dog Sales Secrets) has outlined 8 strategies to guarantee your cold calling success.
Cold Calling Strategy #1: Make telephone calls
No one will buy from you if they do not know of you, your company/products/services. Every sale has its own cycle. Depending on what you are selling, it could be a short cycle of a day or two, or it could be a long cycle of a year or two. Your call is your introduction and the start of your entire sales process. Without that initial prospecting call, you will not close any sales.
Check out the rest of Wendy's strategies at: 8 Strategies to Guarantee Cold Calling Success
Wendy Weiss is a former ballet dancer who set appointments for clients as her day job. She was so effective, one of her clients dubbed her the "Queen of Cold Calling." The title stuck. When injuries sidelined her dance career, Wendy transformed her day job into a full-time career as a sales trainer, coach and author. Her clients include ADP, Avon and Sprint.
Wendy's the real deal. She has a ton of free resources and terrific training programs on her site. Check it out at http://www.wendyweiss.com/ or e-mail her at wendy@wendyweiss.com
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