Sales trainer Dan Adams came up with this fun acronym as an account qualification tool. "It is a very simple reminder of the 5 key areas you must understand early in your selling process," says Adams. "When qualifying an opportunity, you need to ask questions which will provide valuable information to you regarding 5 key topic areas." Let's take a deeper look at each one:
B: What is the customer's BUDGET?
You must know how the customer will obtain the necessary funds to make this acquisition. Is the project budgeted? If it is not budgeted how can you be of assistance in the budgeting process? If it is already budgeted, is it approved? What is the budget? When does the budget expire? If the customer will purchase "off budget" what is the process that must occur? Will it be financed? Is it important to keep this acquisition off the balance sheet?
M: Who is the key decision MAKER?
Who is responsible for making the final decision? If it is a "group" decision, who are the group members and who has the power in the group? How have similar decisions in the past been made? Who will influence this decision? Who are the gatekeepers? Who are the users? Who will evaluate the decision from a technical standpoint? Do I have an internal coach? Who has the final authority to sign off on an investment of this size?
P: What is the customer's buying PROCESS?
You understand your own company's selling process; you must know that to keep your job. In order to be a true sales superstar, you must know your customer's buying process! You must know your client's compelling event. That is, exactly why, and by what date your customer must make this investment. If she does not have a compelling event, you must assist her in creating one.
C: Who are your COMPETITORS?
Who are the vendors under consideration by your customer? You must also discover the solutions your competitors are offering as well as the strategies they are using to compete against you.
C: What are your customer's decision-making CRITERIA?
You must know what is important to your customer. What are her key buying criteria? Once you have that information you then must determine the "rack and stack", or order of the criteria from most important to least important.
Dan Adams is an award-winning professional speaker, author, and consultant who draws upon more than 25 years of experience in the field of sales and marketing. Learn more at www.trusttriangleselling.com
Thursday, September 11, 2008
Wednesday, September 10, 2008
Eliminating the Sleaze Factor in Sales
In her 15-plus years teaching entrepreneurs about sales and marketing, business coach C.J. Hayden has found that many of her clients say the most significant barrier to success is that they simply don't like to sell.
"The roots of this dislike are varied," says Hayden. "Sometimes what gets in the way is fear of rejection, or self-doubt of one's abilities. Other times it's lack of knowledge or inexperience; most of us don't like to do things when we feel we can't do them well. But a theme that rears its ugly head over and over again is this: a belief that sales and marketing is dishonest, manipulative, and sleazy."
"You might expect me to argue that these negative portrayals of marketing are not true," continues Hayden. "But in reality, they often are. Most of us experience on a daily basis inauthentic marketing, manipulative selling, and attempts at persuasion that rub us the wrong way."
"I'm not suggesting that you, the person reading this, are a sleazy salesperson," says Hayden. "In fact, I suspect it's much more likely that you aren't. But it just may be that you need to convince yourself of that truth in order to raise your comfort level about sales and marketing. To that end, I offer the following guidelines."
You are NOT a sleazy salesperson, if:
You only promise what you know you can deliver.
You don't make unrealistic promises and overblown claims, because you know they backfire in the long run. Even when exaggerations like these convince customers to buy, when their purchase doesn't live up to the hype, they feel misled and dissatisfied. Unhappy customers don't make repeat purchases or refer others.
You always represent your abilities and experience accurately.
You're not afraid to let customers know how good you are at what you do, but you don't feel the need to fabricate a background that doesn't exist. Instead, you play up your strengths, tell stories about past successes, and rely on positive references.
You explain why you are good rather than why the competition is bad.
You know that running down the competition only makes you look jealous or defensive. Your competitors are also your colleagues, and can often become some of your best referral sources. You don't hesitate to stress your unique competitive advantages and emphasize the benefits of your products and services, but you do so without disparaging others.
You never trick people into taking or returning your calls.
You wouldn't think of asking someone's receptionist to put through your call by giving misleading information. Nor do you leave voice mail messages implying that your call is for a purpose other than the real one. The most productive sales conversations are always with people who are open to having them.
You ask for permission to follow up or to add prospects to your list.
When you ask a prospect "may I call you again next quarter?" you are both agreeing that a follow-up conversation is worth having. You'll feel more confident making future contacts when you know they are welcome. You also know that subscribing people to your email list without permission only annoys them, so you always ask first.
You stop selling when it's clear the customer doesn't need what you're offering.
In a sales conversation, of course you respond to objections with counterpoints, but you do so respectfully, and never push customers past their own comfort zone. When prospects make it clear that they don't have a current need for your products and services and don't wish to continue hearing about them, you thank them for their time and move on.
"Post this list by your computer and your telephone," says Hayden. "Read it over before making sales calls. Do whatever it takes to reassure yourself that your own sales and marketing is honest, ethical, and authentic."
C.J. Hayden, MCC, is a business coach who teaches people to make a better living doing what they love. Her company, Wings Business Coaching, specializes in working with business owners, self-employed professionals, and people in marketing and sales. Learn more at www.getclientsnow.com
"The roots of this dislike are varied," says Hayden. "Sometimes what gets in the way is fear of rejection, or self-doubt of one's abilities. Other times it's lack of knowledge or inexperience; most of us don't like to do things when we feel we can't do them well. But a theme that rears its ugly head over and over again is this: a belief that sales and marketing is dishonest, manipulative, and sleazy."
"You might expect me to argue that these negative portrayals of marketing are not true," continues Hayden. "But in reality, they often are. Most of us experience on a daily basis inauthentic marketing, manipulative selling, and attempts at persuasion that rub us the wrong way."
"I'm not suggesting that you, the person reading this, are a sleazy salesperson," says Hayden. "In fact, I suspect it's much more likely that you aren't. But it just may be that you need to convince yourself of that truth in order to raise your comfort level about sales and marketing. To that end, I offer the following guidelines."
You are NOT a sleazy salesperson, if:
You only promise what you know you can deliver.
You don't make unrealistic promises and overblown claims, because you know they backfire in the long run. Even when exaggerations like these convince customers to buy, when their purchase doesn't live up to the hype, they feel misled and dissatisfied. Unhappy customers don't make repeat purchases or refer others.
You always represent your abilities and experience accurately.
You're not afraid to let customers know how good you are at what you do, but you don't feel the need to fabricate a background that doesn't exist. Instead, you play up your strengths, tell stories about past successes, and rely on positive references.
You explain why you are good rather than why the competition is bad.
You know that running down the competition only makes you look jealous or defensive. Your competitors are also your colleagues, and can often become some of your best referral sources. You don't hesitate to stress your unique competitive advantages and emphasize the benefits of your products and services, but you do so without disparaging others.
You never trick people into taking or returning your calls.
You wouldn't think of asking someone's receptionist to put through your call by giving misleading information. Nor do you leave voice mail messages implying that your call is for a purpose other than the real one. The most productive sales conversations are always with people who are open to having them.
You ask for permission to follow up or to add prospects to your list.
When you ask a prospect "may I call you again next quarter?" you are both agreeing that a follow-up conversation is worth having. You'll feel more confident making future contacts when you know they are welcome. You also know that subscribing people to your email list without permission only annoys them, so you always ask first.
You stop selling when it's clear the customer doesn't need what you're offering.
In a sales conversation, of course you respond to objections with counterpoints, but you do so respectfully, and never push customers past their own comfort zone. When prospects make it clear that they don't have a current need for your products and services and don't wish to continue hearing about them, you thank them for their time and move on.
"Post this list by your computer and your telephone," says Hayden. "Read it over before making sales calls. Do whatever it takes to reassure yourself that your own sales and marketing is honest, ethical, and authentic."
C.J. Hayden, MCC, is a business coach who teaches people to make a better living doing what they love. Her company, Wings Business Coaching, specializes in working with business owners, self-employed professionals, and people in marketing and sales. Learn more at www.getclientsnow.com
Tuesday, September 9, 2008
Cold Calling Bloopers: How a Quick-Witted Seller Saved the Day
I love this story from Jill Konrath's Selling to Big Companies blog:
"Cold calling is tough," says Konrath. "We all struggle with it. That's why I laughed today when I talked with Sara, who works for a New York-based PR firm. She'd just seen my new video clips where I'm speaking about the challenges of connecting with corporate decision makers. Sara understood exactly what I was talking about!"
That's when she told me her story:
I was calling a major media outlet to "pitch" one of our clients. Of course, I got voice mail. About half way through my message, my mind went totally blank. So I hung up.
As soon as my memory returned, I recalled the client and picked up exactly where I left off ...
"Hi. This is Sara calling again. We must have gotten disconnected. As I was saying..."
Now that's quick thinking!
For more great tips, stories, and articles visit Jill Konrath's blog at http://www.sellingtobigcompanies.blogs.com/
"Cold calling is tough," says Konrath. "We all struggle with it. That's why I laughed today when I talked with Sara, who works for a New York-based PR firm. She'd just seen my new video clips where I'm speaking about the challenges of connecting with corporate decision makers. Sara understood exactly what I was talking about!"
That's when she told me her story:
I was calling a major media outlet to "pitch" one of our clients. Of course, I got voice mail. About half way through my message, my mind went totally blank. So I hung up.
As soon as my memory returned, I recalled the client and picked up exactly where I left off ...
"Hi. This is Sara calling again. We must have gotten disconnected. As I was saying..."
Now that's quick thinking!
For more great tips, stories, and articles visit Jill Konrath's blog at http://www.sellingtobigcompanies.blogs.com/
Monday, September 8, 2008
Quote of the Week
"Opportunities are seen by many, understood by few, and capitalized upon by even fewer." - Mark Hunter
"It is amazing how intellectual capacity drives opportunities," says sales trainer Mark Hunter. "Far too many insights are never capitalized on because we fail to use our own intellectual capacity or access the insights of others to determine how to leverage an opportunity. I read recently where Bill Gates and Warren Buffett took a trip to Alberta, Canada, to better understand how the people there are extracting oil using new technologies. They made this trip because they were curious and were driven by the fact that they knew it would expand their intellectual capacity."
"Sales is all about using your intellectual capacity to help people see opportunities," continues Hunter. "The salespeople who are at the top of their game year in and year out are the ones who know how to leverage their intellectual skills. Take the time to develop your intellect by digging into books, articles, newspapers, and engaging in conversations with others that will stimulate your mind and cause you to grow intellectually. In the long-term, your success is not driven by what you sell, who you work for, and certainly not by the price you sell it for. Long-term success is driven by your intellectual capacity and your ability to leverage it to see opportunities."
Get more great tips and quotes from Mark Hunter, The Sales Hunter, at http://thesaleshunter.com/blog
"It is amazing how intellectual capacity drives opportunities," says sales trainer Mark Hunter. "Far too many insights are never capitalized on because we fail to use our own intellectual capacity or access the insights of others to determine how to leverage an opportunity. I read recently where Bill Gates and Warren Buffett took a trip to Alberta, Canada, to better understand how the people there are extracting oil using new technologies. They made this trip because they were curious and were driven by the fact that they knew it would expand their intellectual capacity."
"Sales is all about using your intellectual capacity to help people see opportunities," continues Hunter. "The salespeople who are at the top of their game year in and year out are the ones who know how to leverage their intellectual skills. Take the time to develop your intellect by digging into books, articles, newspapers, and engaging in conversations with others that will stimulate your mind and cause you to grow intellectually. In the long-term, your success is not driven by what you sell, who you work for, and certainly not by the price you sell it for. Long-term success is driven by your intellectual capacity and your ability to leverage it to see opportunities."
Get more great tips and quotes from Mark Hunter, The Sales Hunter, at http://thesaleshunter.com/blog
Thursday, September 4, 2008
Defeating SADD in America - Step 3
Today we'll look at another way you can help prevent Sales Attention Deficit Disorder (SADD) in America. We previously discussed turning off your Blackberry and loving the one you're with. Today we'll look at another tip from sales trainer Colleen Stanley - listen, record and respond.
3. Listen, record and respond.
Harvey Mackay, author of "Swim With The Sharks Without Being Eaten Alive," and president of the Mackay Envelope Company, is a master at listening, recording and responding. Mackay knows that envelops are a commodity product; one that can easily fall prey to the price shopping game. He decided early on that he would not compete on price but he would compete on paying attention and knowing more about his clients than any of his competitors.
All of Mackay's salespeople are required to complete a questionnaire on each one of their customers. "The Mackay 66" customer profile asks 66 questions ranging from personal to business. With this data, the Mackay salesperson is equipped to make their customers feel important by remembering special anniversaries, asking specific questions about their children, or sending articles of interest on a hobby or passion.
Get rid of SADD. Turn off your electronics, be present, and be professional. Paying attention is a great selling skill.
Colleen Stanley is president of SalesLeadership Inc., a business development consulting firm specializing in sales and sales management training. The company provides programs in prospecting, referral strategies, consultative sales training, sales management training, and hiring/selection. Learn more at www.salesleadershipdevelopment.com.
3. Listen, record and respond.
Harvey Mackay, author of "Swim With The Sharks Without Being Eaten Alive," and president of the Mackay Envelope Company, is a master at listening, recording and responding. Mackay knows that envelops are a commodity product; one that can easily fall prey to the price shopping game. He decided early on that he would not compete on price but he would compete on paying attention and knowing more about his clients than any of his competitors.
All of Mackay's salespeople are required to complete a questionnaire on each one of their customers. "The Mackay 66" customer profile asks 66 questions ranging from personal to business. With this data, the Mackay salesperson is equipped to make their customers feel important by remembering special anniversaries, asking specific questions about their children, or sending articles of interest on a hobby or passion.
Get rid of SADD. Turn off your electronics, be present, and be professional. Paying attention is a great selling skill.
Colleen Stanley is president of SalesLeadership Inc., a business development consulting firm specializing in sales and sales management training. The company provides programs in prospecting, referral strategies, consultative sales training, sales management training, and hiring/selection. Learn more at www.salesleadershipdevelopment.com.
Wednesday, September 3, 2008
Love the One You're With
Today and tomorrow we'll be finishing up a short series on SADD in America. Sales Attention Deficit Disorder (SADD) is a growing concern, according to sales trainer Colleen Stanley. Last week we identified one way to prevent it - turning off your Blackberry. A scary thought, right? Try this new idea out today, and you'll be helping to lower the frequency of SADD in corporate America.
2. Love the one you're with.
The grass is not always greener on the other side of the fence. This selling scenario often occurs at networking events and looks something like this: You are talking to an individual and throughout the conversation he/she keeps looking around the room to see if there is someone else more important they should be meeting. Actions speak louder than words and the message is clear...you are important; however, the grass may be greener on the other side of the room.
Some salespeople still practice the crazy networking principle of speed networking. This salesperson's main goal is to meet as many people as possible in an evening. Quantity is the goal, not quality. They carry an invisible time clock that rings after two minutes (hey, they have a room to work). They politely excuse themselves and move onto "greener pastures," (at which point their cell phone rings and they answer).
Speed networking or "working the room" is working yourself right out of a potential relationship. Savvy business people spot phonies and phony intentions. People that are serious about building business relationships take the necessary time to build that relationship. They know processes are efficient and people are not.
Colleen Stanley is president of SalesLeadership Inc., a business development consulting firm specializing in sales and sales management training. The company provides programs in prospecting, referral strategies, consultative sales training, sales management training, and hiring/selection. Learn more at www.salesleadershipdevelopment.com.
2. Love the one you're with.
The grass is not always greener on the other side of the fence. This selling scenario often occurs at networking events and looks something like this: You are talking to an individual and throughout the conversation he/she keeps looking around the room to see if there is someone else more important they should be meeting. Actions speak louder than words and the message is clear...you are important; however, the grass may be greener on the other side of the room.
Some salespeople still practice the crazy networking principle of speed networking. This salesperson's main goal is to meet as many people as possible in an evening. Quantity is the goal, not quality. They carry an invisible time clock that rings after two minutes (hey, they have a room to work). They politely excuse themselves and move onto "greener pastures," (at which point their cell phone rings and they answer).
Speed networking or "working the room" is working yourself right out of a potential relationship. Savvy business people spot phonies and phony intentions. People that are serious about building business relationships take the necessary time to build that relationship. They know processes are efficient and people are not.
Colleen Stanley is president of SalesLeadership Inc., a business development consulting firm specializing in sales and sales management training. The company provides programs in prospecting, referral strategies, consultative sales training, sales management training, and hiring/selection. Learn more at www.salesleadershipdevelopment.com.
Tuesday, September 2, 2008
An Olympic Attitude
We learned a lot during the recent Olympics - about the athletes, the host county,
"I often encounter salespeople who show similar behavior," continues Robertson. "A competitor sneaks in and steals an account. A customer decides to buy an inferior product. Competitors become more predatory in their pricing. A deal falls through after several months of effort and perhaps a great deal of expense. The list could go on."
"Situations like this are a fact of life and business. How you respond makes a difference. If you allow yourself to become bitter, future situations will only compound your resentment and you will gradually find yourself struggling to meet your goals. However, if you evaluate the situation and determine what, if anything, you could have done differently to improve your results, your behavior will be much more positive."
"No one likes to lose a sale, especially a large one," says Robertson. "However, displaying bitterness will negatively affect your future efforts."
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
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