Shortly after my last newsletter went out, I got an email from Lauren. She liked my article, but was frustrated because she couldn't easily Tweet about it. Now that may not be one bit important to you, but check out what happened next.
Lauren's email continued: Unless I'm missing something, you don't have that capability enabled which I'm *very* surprised about. You are considering social networks when doing this, right? If not, we're more than open to speak with you about how we could help you.
I was impressed. She'd spotted a potential opportunity for her business and immediately followed up on it. Plus, her message made it clear that I was lagging behind where I should have been.
The only thing she didn't know was if it was important to me. It was. I wrote back:
Thanks for your note! And, I am guilty as charged. My email service provider does have social media capabilities, but I haven't started using them yet. It's time to get on it!
I also need to get my blog social media friendly. I don't have anyone working on that right now. It's a small project, but a necessary one. Interested?
Of course, she was. She asked, "What's your budget for this?"
That's exactly what traditional sales training tells you to ask. To find out if you're dealing with a qualified buyer, you're supposed make sure they have money in their budget for your product or service.
It was the wrong question to ask!
Suddenly all the progress Lauren was making came to a screeching halt. I didn't have any money in the budget. Nor could I respond intelligently to her question since I didn't have a clue how much time and effort it took to accomplish the task.
Yet I was a qualified buyer. I had money to spend; it just wasn't allocated to improving my social media presence.
When I told Lauren I was stumped, she was surprised at my reaction. After all, it was a fair question to ask from her perspective. Knowing my budget, she could propose a solution that would fit within it.
But in the end, that wouldn't be the right thing - for her or me.
Still confused? Let's say your car is making some worrisome noises. One day in the parking lot, an automotive specialist hears it and approaches you.
He says, "Your car is really idling roughly. With the way it's sounding, I'm not sure if you'll make it to your business meetings next week. Have you thought about getting it fixed?"
Of course, this captures your attention. You respond, "Yeah, I am a little worried. What's happening? What are your thoughts?"
He asks, "What's your budget?"
Is that really what you want to hear?
Of course not. You don't know what's wrong. You don't know how much parts and labor cost. You just want the darn thing running so you can work.
And even if you don't have any money in the budget, you'll find some if it's important.
You'd much rather hear him say, "Mmm. Let me take a better look and give you a recommendation. I'll need to ask you some questions."
Then I bet you'd love him to come back to you with a couple of options. The first one would show you what it would take to solve the immediate problem, while the second would focus on upcoming needs or additional ideas.
Here's the deal.
The "What's your budget?" question only works for planned purchases.
When Lauren contacted me, I was interested. And, I was willing to spend the money if I felt it was a good business decision.
That's just like the 90% or more of the prospects you deal with on a regular basis. They still haven't decided if they're going to change from their status quo. They don't have money in the budget for new investments.
In short, they haven't yet made that critical Second Decision that I describe in my new book, SNAP Selling.
How you deal with prospects who've already decided to change is fundamentally different from how you deal with those who could be tempted, but haven't yet committed to taking action. Remember that next time you're worried about the budget!
Jill Konrath, author of Selling to Big Companies and founder of the Sales Shebang, is a frequent speaker at national sales meetings and industry events. For more articles like this, visit www.SellingtoBigCompanies.com. Sign up for the newsletter and get a bonus Sales Call Planning Guide.
Friday, April 9, 2010
Thursday, April 8, 2010
Never "Check In"
We're often told that it's imperative to maintain contact with customers and prospects so that they don't forget us, so that we stay top of mind. Intuitively, this makes sense. After all, "out of sight, out of mind" is a saying we've all heard since childhood. So it would seem to make sense that being "in-sight" (or "in voice") would - in and of itself - be a smart strategy for us in Sales.
Well, maybe. Like a lot of things, it depends.
Put yourself in the shoes of one of your customers. You're in the middle of an important project, and your phone rings. You pick it up.
"Hi, this is Bob from Acme Company. I was just checking in to see how things are going."
What's your reaction? Gratitude? Exhilaration? Appreciation? Or...annoyance? You get the picture.
Simply calling to "check in" is not going to score you any points. It's not going to advance your agenda. On the contrary, it may lose you a few points. You may become the sales rep whose phone number customers dread seeing on caller ID, because your call represents an unwanted interruption - instead of the welcome break you want it to be.
So how can you ensure that you're perceived as that welcome break, and not the unwanted interruption? By making sure that every contact with your customers contains value. And what kind of value can we provide? Information. Insights. Ideas. Connections. Stuff you believe your customer doesn't know, doesn't have access to, or may but is too busy to dig it up himself - but which he should be aware of, because it'll help him do his job better, gain a competitive advantage, or accrue some other benefit. It could be a piece of industry scuttlebutt that didn't make its way into the industry press yet, let alone into the general press. An idea you picked up at a seminar or webinar. Some nugget that was tweeted by an authority you're following - that your customer likely isn't (because they don't tweet). Or a person you met whom you believe would likely become a customer of your customer. What you're accomplishing is solidifying your relationship with your customer (which helps to stave off competition) or, in the case of a prospect, positioning yourself as a useful and valuable resources, which elevates you in their mind from an average vendor to the preferred one.
Set aside some time - an hour, perhaps - to think, really think, about what's important to each and every one of your customers and prospects (especially those you find yourself chasing). Review your notes to see what seemingly innocuous comments were made that in fact might present an opportunity for you to address. Then think about what you can provide them, or advise them on - that would be beneficial to them. Make this a regular part of your prospecting/account management repertoire, and you're sure to see a higher closure ratio with prospects, and a higher retention rate (and greater up-sell and cross sell revenues) with customers.
Craig James is president of Sales Solutions, a sales productivity improvement company. He helps sales organizations get increased production out of their sales people, and entrepreneurs and individual sales people to be more successful at selling. Learn more at http://www.sales-solutions.biz.
Well, maybe. Like a lot of things, it depends.
Put yourself in the shoes of one of your customers. You're in the middle of an important project, and your phone rings. You pick it up.
"Hi, this is Bob from Acme Company. I was just checking in to see how things are going."
What's your reaction? Gratitude? Exhilaration? Appreciation? Or...annoyance? You get the picture.
Simply calling to "check in" is not going to score you any points. It's not going to advance your agenda. On the contrary, it may lose you a few points. You may become the sales rep whose phone number customers dread seeing on caller ID, because your call represents an unwanted interruption - instead of the welcome break you want it to be.
So how can you ensure that you're perceived as that welcome break, and not the unwanted interruption? By making sure that every contact with your customers contains value. And what kind of value can we provide? Information. Insights. Ideas. Connections. Stuff you believe your customer doesn't know, doesn't have access to, or may but is too busy to dig it up himself - but which he should be aware of, because it'll help him do his job better, gain a competitive advantage, or accrue some other benefit. It could be a piece of industry scuttlebutt that didn't make its way into the industry press yet, let alone into the general press. An idea you picked up at a seminar or webinar. Some nugget that was tweeted by an authority you're following - that your customer likely isn't (because they don't tweet). Or a person you met whom you believe would likely become a customer of your customer. What you're accomplishing is solidifying your relationship with your customer (which helps to stave off competition) or, in the case of a prospect, positioning yourself as a useful and valuable resources, which elevates you in their mind from an average vendor to the preferred one.
Set aside some time - an hour, perhaps - to think, really think, about what's important to each and every one of your customers and prospects (especially those you find yourself chasing). Review your notes to see what seemingly innocuous comments were made that in fact might present an opportunity for you to address. Then think about what you can provide them, or advise them on - that would be beneficial to them. Make this a regular part of your prospecting/account management repertoire, and you're sure to see a higher closure ratio with prospects, and a higher retention rate (and greater up-sell and cross sell revenues) with customers.
Craig James is president of Sales Solutions, a sales productivity improvement company. He helps sales organizations get increased production out of their sales people, and entrepreneurs and individual sales people to be more successful at selling. Learn more at http://www.sales-solutions.biz.
Wednesday, April 7, 2010
Moving On
Today sales trainer Tom Reilly shares some insight about how to move forward - let us know what you think in the comments!
One problem with a long recession is the mindset that develops throughout the downturn. Survival is primary. Companies and their employees do whatever they can to protect what they have and minimize their losses. The constant battering of bad economic news takes its toll on our collective psyche.
People become overly cautious - they hoard, hunker down, and play defense. They seem to forget the fundamental reality of competition. More points are scored while playing offense than while playing defense. Consequently, when things turn, some people and companies are slower than others to participate in the recovery.
The economic news these days is much better. Companies are spending. Earnings are improving. Even jobs are returning to many sectors. Granted, a few industries are lagging - they always do. Overall, things are getting better, so it's time to participate.
Here's a thought for the week: Let your sales focus this week be on thriving in this recovery. If you're working, you survived - you held on. Now, turn your attention to gaining ground. It's time to focus on growth. I talk to many salespeople that are exploiting these opportunities. You can, too. Take this spirit of optimism to your customers and infect them with your enthusiasm. Let's put this recession behind us and get on with the business of selling.
Tom Reilly is the president of Tom Reilly Training. He is an authority on value-added selling, and speaks to thousands of salespeople and managers annually on increasing their value to their company and customers.
One problem with a long recession is the mindset that develops throughout the downturn. Survival is primary. Companies and their employees do whatever they can to protect what they have and minimize their losses. The constant battering of bad economic news takes its toll on our collective psyche.
People become overly cautious - they hoard, hunker down, and play defense. They seem to forget the fundamental reality of competition. More points are scored while playing offense than while playing defense. Consequently, when things turn, some people and companies are slower than others to participate in the recovery.
The economic news these days is much better. Companies are spending. Earnings are improving. Even jobs are returning to many sectors. Granted, a few industries are lagging - they always do. Overall, things are getting better, so it's time to participate.
Here's a thought for the week: Let your sales focus this week be on thriving in this recovery. If you're working, you survived - you held on. Now, turn your attention to gaining ground. It's time to focus on growth. I talk to many salespeople that are exploiting these opportunities. You can, too. Take this spirit of optimism to your customers and infect them with your enthusiasm. Let's put this recession behind us and get on with the business of selling.
Tom Reilly is the president of Tom Reilly Training. He is an authority on value-added selling, and speaks to thousands of salespeople and managers annually on increasing their value to their company and customers.
Tuesday, April 6, 2010
Good, Better, Best
Given a choice of three price points, approximately two-thirds of those who make a purchase will choose the middle one. Because of this tendency, there is a school of thought that calls for all sellers to offer three solutions - a low-price version, a "right" priced version and a premium-priced version.
The belief is that most buyers will not choose the cheapest version because of their perception that they aren't getting a high quality solution. Some will choose the premium solution because they want the best and everybody else chooses the middle version.
Perhaps, this approach gained momentum because of the Sears catalog. Back in the day, for those of you under the age of 30 who have no idea of what I speak, there was a publication mailed by Sears to nearly every household in America. At least everyone in America that I knew had the Sears catalog in their house. In this catalog was every product stocked by Sears with a picture and a description. Imagine!
Anyway, besides children using the book as a step ladder to reach the cookie jar on the kitchen counter, folks of all types would actually consult the book to decide what to buy. This was long before the days where one could research products via the internet. There were no product reviews available at one's fingertips. There were no helpful legions of people writing about how they enjoy or despise products. No, but Sears, being aware of the need for some further guidance, provided a fool-proof system to guide the consumer toward the right purchase.
The system was Good, Better, Best. Here's how it worked. Let's say that you wanted to buy a circular saw. You would go to the tools section of the catalog and look at the pictures and descriptions of Craftsman circular saws. You might discover, for example, that the Good saw boasted a 7" diameter blade and used a 2 1/2 horsepower motor for $29.99. The Better saw may have used 7" or 8" blades powered by a 3 1/2 horsepower motor - plus it had a spring-loaded safety guard for $39.99. Finally, the Best saw had 7" or 8" interchangeable blades, a 5 hp motor, the spring loaded guard and a built-in leveling system for straighter cuts for $49.99, for example.
All the consumer had to do was pick the saw that best suited his needs, fill out a form with his Sears credit card number and mail it in. Or, he could call the 800 # for faster service. Simple, right?
Simple, but the problem was that many people didn't know which of the three options suited them because they weren't able to articulate their circular saw needs and then match those needs to the capabilities of the different saws. As a result, the choice was really a crapshoot. Should one go with the cheapest and hope that the saw was adequate or go with the most expensive and hope that they needed all the gadgets that made Sears Best worth the money? In the end, most people would simply go with the middle choice figuring that it was good enough.
The days of the Sears catalog are gone and gone with it are the days of Good, Better, Best. The professional seller should never offer a Good, Better, Best set of options because the professional seller should have done research on the prospect, asked the prospect diagnostic questions, developed their needs and presented a customized solution. The professional seller always makes a specific recommendation aka a customized solution.
There are those who will object and say that it is better to give prospects choices. I will have to disagree. The prospect already has choices. They could choose to buy from you or any number of your competitors. Your job is to differentiate yourself in such a way that the prospect chooses you as the professional seller with whom they want to do business. Once that decision is made the prospect will be looking to you for guidance and a professional recommendation.
Of course, it is true that there will be times when the prospect will balk at your solution. Probably most times. I am not suggesting that you be inflexible and unweilding. Just the opposite, really. Articulating your recommendation after getting a complete understanding of the customer's needs is a great starting point for negotiating a final solution with which the customer is satisfied. Adding on or taking off elements of your proposal to get it to that place where your prospect becomes a customer is just part of the way that sales works.
Offering a Good, Better, Best solution doesn't serve your customers in quite the same way and it is not the way of the modern, professional seller.
Sam Manfer delivers keynote speeches and in-depth selling workshops for those anxious to increase sales. His hands-on coaching turns individuals and sales organizations into selling whirlwinds. Follow Sam's C-Level Selling Blog for more insights.
The belief is that most buyers will not choose the cheapest version because of their perception that they aren't getting a high quality solution. Some will choose the premium solution because they want the best and everybody else chooses the middle version.
Perhaps, this approach gained momentum because of the Sears catalog. Back in the day, for those of you under the age of 30 who have no idea of what I speak, there was a publication mailed by Sears to nearly every household in America. At least everyone in America that I knew had the Sears catalog in their house. In this catalog was every product stocked by Sears with a picture and a description. Imagine!
Anyway, besides children using the book as a step ladder to reach the cookie jar on the kitchen counter, folks of all types would actually consult the book to decide what to buy. This was long before the days where one could research products via the internet. There were no product reviews available at one's fingertips. There were no helpful legions of people writing about how they enjoy or despise products. No, but Sears, being aware of the need for some further guidance, provided a fool-proof system to guide the consumer toward the right purchase.
The system was Good, Better, Best. Here's how it worked. Let's say that you wanted to buy a circular saw. You would go to the tools section of the catalog and look at the pictures and descriptions of Craftsman circular saws. You might discover, for example, that the Good saw boasted a 7" diameter blade and used a 2 1/2 horsepower motor for $29.99. The Better saw may have used 7" or 8" blades powered by a 3 1/2 horsepower motor - plus it had a spring-loaded safety guard for $39.99. Finally, the Best saw had 7" or 8" interchangeable blades, a 5 hp motor, the spring loaded guard and a built-in leveling system for straighter cuts for $49.99, for example.
All the consumer had to do was pick the saw that best suited his needs, fill out a form with his Sears credit card number and mail it in. Or, he could call the 800 # for faster service. Simple, right?
Simple, but the problem was that many people didn't know which of the three options suited them because they weren't able to articulate their circular saw needs and then match those needs to the capabilities of the different saws. As a result, the choice was really a crapshoot. Should one go with the cheapest and hope that the saw was adequate or go with the most expensive and hope that they needed all the gadgets that made Sears Best worth the money? In the end, most people would simply go with the middle choice figuring that it was good enough.
The days of the Sears catalog are gone and gone with it are the days of Good, Better, Best. The professional seller should never offer a Good, Better, Best set of options because the professional seller should have done research on the prospect, asked the prospect diagnostic questions, developed their needs and presented a customized solution. The professional seller always makes a specific recommendation aka a customized solution.
There are those who will object and say that it is better to give prospects choices. I will have to disagree. The prospect already has choices. They could choose to buy from you or any number of your competitors. Your job is to differentiate yourself in such a way that the prospect chooses you as the professional seller with whom they want to do business. Once that decision is made the prospect will be looking to you for guidance and a professional recommendation.
Of course, it is true that there will be times when the prospect will balk at your solution. Probably most times. I am not suggesting that you be inflexible and unweilding. Just the opposite, really. Articulating your recommendation after getting a complete understanding of the customer's needs is a great starting point for negotiating a final solution with which the customer is satisfied. Adding on or taking off elements of your proposal to get it to that place where your prospect becomes a customer is just part of the way that sales works.
Offering a Good, Better, Best solution doesn't serve your customers in quite the same way and it is not the way of the modern, professional seller.
Sam Manfer delivers keynote speeches and in-depth selling workshops for those anxious to increase sales. His hands-on coaching turns individuals and sales organizations into selling whirlwinds. Follow Sam's C-Level Selling Blog for more insights.
Monday, April 5, 2010
Quote of the Week
"Success is the sum of small efforts - repeated day in and day out." -- Robert Collier
You don't have to change everything about the way you do business to become more successful - instead change something small, one thing at a time. You'll be amazed at what getting into the office 15 minutes early does for your productivity, or how easy it is to make one more prospecting call rather than getting up to chat with a co-worker. These small things make a big difference, and by changing them one at a time you're changing your habits without ever feeling overwhelmed.
What small things can you do to change the way you work? Let us know in the comments what has worked for you - the more suggestions the better!
You don't have to change everything about the way you do business to become more successful - instead change something small, one thing at a time. You'll be amazed at what getting into the office 15 minutes early does for your productivity, or how easy it is to make one more prospecting call rather than getting up to chat with a co-worker. These small things make a big difference, and by changing them one at a time you're changing your habits without ever feeling overwhelmed.
What small things can you do to change the way you work? Let us know in the comments what has worked for you - the more suggestions the better!
Friday, April 2, 2010
Sales Strategies vs. Sales Tactics
How many times can we talk about the difference between sales strategy and sales tactics? Today sales trainer Bill Caskey goes back to basics!
Your sales strategy should be really, really simple...the simpler it is to understand, the more likely your sales team will understand and execute against it.
Your sales strategy should be to educate the customer to the problems he has - and help him solve them.
Everything you do in the marketing/lead generation/sales process should have THAT as your end goal. The mistake most companies make is they make their strategy about THEM - not the customer.
I recently spoke to a group where I asked the question, "What is your sales strategy?" The answers I got indicated that they had done no definitive work on the subject. Isn't that a bit absurd? With as much chatter as there is about the concept of sales strategy - to have done no work on it? None!
So, now that you have your new strategy, your sales tactics - and marketing tactics - should line up to support that. Here are some tips:
--Maybe you publish an article about all the mistakes you observe people making in the process of solving problems.
--Maybe you create a video where you interview a client about the problems they had they didn't know about.
--Maybe you create a speech that you deliver to groups in your area - your niche - where you discuss the Top 10 Problems people experience without your solution.
You get the idea. Do some work on strategy. And when you do, make sure your customer is at the center of it.
Bill Caskey is a sales development leader and experimenter. His ideas about selling are convictions about life, money, and meaning. He has coached sales professionals and executives for over 19 years. To learn more, visit his website www.CaskeyTraining.com.
Your sales strategy should be really, really simple...the simpler it is to understand, the more likely your sales team will understand and execute against it.
Your sales strategy should be to educate the customer to the problems he has - and help him solve them.
Everything you do in the marketing/lead generation/sales process should have THAT as your end goal. The mistake most companies make is they make their strategy about THEM - not the customer.
I recently spoke to a group where I asked the question, "What is your sales strategy?" The answers I got indicated that they had done no definitive work on the subject. Isn't that a bit absurd? With as much chatter as there is about the concept of sales strategy - to have done no work on it? None!
So, now that you have your new strategy, your sales tactics - and marketing tactics - should line up to support that. Here are some tips:
--Maybe you publish an article about all the mistakes you observe people making in the process of solving problems.
--Maybe you create a video where you interview a client about the problems they had they didn't know about.
--Maybe you create a speech that you deliver to groups in your area - your niche - where you discuss the Top 10 Problems people experience without your solution.
You get the idea. Do some work on strategy. And when you do, make sure your customer is at the center of it.
Bill Caskey is a sales development leader and experimenter. His ideas about selling are convictions about life, money, and meaning. He has coached sales professionals and executives for over 19 years. To learn more, visit his website www.CaskeyTraining.com.
Thursday, April 1, 2010
What to Do During a Sales Dry Spell
The dry spell...we all go through them, but they can be sales killers - they drain your energy and your spirit. Take this advice from sales trainer Kim Duke and get out of that dry spell as quick as you can!
Years ago I had a goofy boss who looked and acted like Yosemite Sam. Yosemite Sam did however, have a great piece of advice for me when I was going through a nasty sales SLUMP.
Honestly it was a dry spell that was so dry I had sand in my mouth. I wasn't closing any deals and it felt like I was losing contracts far more than I was getting them.
He looked at me with his one eyebrow and said...
"Go out and sell something small. It will build your confidence."
I'm sure I rolled my eyes but I went out and sold something ridiculously small. (I kid you not - I think I sold a non-profit agency some commercials that totaled $300.)
It was easy. Why? Because I thought it was small and therefore I didn't feel pressure.
But I had BROKEN THE DRY SPELL.
And I went on to sell something a little bigger. And then a little bigger than that.
And before you know it - I was back in the game!
Are You Stuck In A Sand-Dune?
Maybe you're having a sales slump right now and quite frankly, you're feeling a little depressed about it. You're probably faking it to your customers and everyone else but deep down you feel DREADFUL. You're freaking out in fact.
It's easy to fix. Get out there and sell something small.
Contact one of your old customers who loves you and fill an order. Offer a Blow-Out offer they can't resist and let them know it only happens once per year and it's because they're such great clients.
You'll break the sales DRY SPELL, it will increase your confidence and you'll be off and running and selling BIG DEALS again. Trust me. It works!
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
Years ago I had a goofy boss who looked and acted like Yosemite Sam. Yosemite Sam did however, have a great piece of advice for me when I was going through a nasty sales SLUMP.
Honestly it was a dry spell that was so dry I had sand in my mouth. I wasn't closing any deals and it felt like I was losing contracts far more than I was getting them.
He looked at me with his one eyebrow and said...
"Go out and sell something small. It will build your confidence."
I'm sure I rolled my eyes but I went out and sold something ridiculously small. (I kid you not - I think I sold a non-profit agency some commercials that totaled $300.)
It was easy. Why? Because I thought it was small and therefore I didn't feel pressure.
But I had BROKEN THE DRY SPELL.
And I went on to sell something a little bigger. And then a little bigger than that.
And before you know it - I was back in the game!
Are You Stuck In A Sand-Dune?
Maybe you're having a sales slump right now and quite frankly, you're feeling a little depressed about it. You're probably faking it to your customers and everyone else but deep down you feel DREADFUL. You're freaking out in fact.
It's easy to fix. Get out there and sell something small.
Contact one of your old customers who loves you and fill an order. Offer a Blow-Out offer they can't resist and let them know it only happens once per year and it's because they're such great clients.
You'll break the sales DRY SPELL, it will increase your confidence and you'll be off and running and selling BIG DEALS again. Trust me. It works!
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
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