Friday, July 31, 2009

Writing a "Close Plan Letter"

You've just gotten a verbal agreement for the sale - congratulations! But as we all know, a lot can happen between the verbal agreement and the signing of the contract. That's why it's essential you take control and let your client know the schedule ahead of time. Sales trainer Dan Adams has a great example of a letter he sends at this time - adapt it to fit your own situation, and you'll be less likely to lose the sale after the verbal agreement.

"Let's say the customer gives you a verbal agreement to purchase your product," says Adams. "Even with that in place, events can easily occur that could jeopardize your sale. A close plan letter is an effective way to manage the unpredictability of this time. It outlines the steps necessary to take the customer from her verbal commitment to the issuing of a formal, contingent-free purchase order and down payment."

"The superstar uses the letter to micro-manage the steps to complete the process, limit any surprises, and hasten the sale," explains Adams. "The close plan letter's purpose is to prevent surprises in the run-up to the final purchase order."

Here is a suggestion for a basic close plan letter:

July 31, 200X

Mr. Mike Jackson
Senior VP of Administrative Services
ABC Healthcare Systems
Chicago, IL 60603

Dear Mike:

Thank you for meeting with me today to discuss the _________ Project.

This note serves as a summary of the action items and owners required to finalize the paperwork and approvals by ___ . This is the date which will allow us to keep on schedule for your _____ Department's _______ (Critical Event).

·Department Approval---Owned by Mike by July 29th
·Board Approval--Owned by John by Aug 12
·Legal Approval & Signatures--Owned by Mike by Aug 21
·Procurement Signatures--Owned by Mike by Aug 31st.

I will call Jill on Friday to set up a meeting for a review of our status.

Sincerely,

Dan

Daniel Adams, author of Building Trust, Growing Sales, and creator of Trust Triangle Selling helps corporations improve their profits by optimizing the performance of their sales teams. He is a frequent and popular speaker at national sales meetings, workshops and association events. Visit www.trusttriangleselling.com.

Thursday, July 30, 2009

The Sign of a True Sales Pro - Admitting We're Never Too Good for Coaching

Sales trainer Nancy Bleeke has gotten a lot of phone calls in her time - but someone calling her back after a sales call to ask advice on how to do better? Now that's a new one! Read on for her story, a great reminder that we all need a little help to keep improving our sales.

Ringggg. Ringggg. Not my favorite sound in the evening when I am in the midst of all kinds of fun mothering activities - homework, cleaning, and moderating disagreements between teenagers. And yet I picked up the phone...

"Hi Nancy, it's Virginia."


Oh, okay, I know who this is...and after some pleasantries...

"I'm calling to tell you about my work because you asked me about my new job the other night."

Hmmm. Okay.

She continued..."I'm so excited and want you to meet the guys I work with."

And so the discussion went. Me justifying I didn't need to meet these "guys" as I don't need their services and Virginia giving me more and more options on time and location because I should meet them. She was determined that I needed to do this because they are so great! And I was determined that I wasn't taking a half day of my life to meet with anyone that I didn't need to meet with.

I hung up feeling like I had dodged the bullet for now...and went on with my evening.

Forty-five minutes later ... Ringggg. Ringggg. Now who?

"Hi, it's Virginia again. I'm calling to get some advice. Do you have a few minutes?"

Of course...

"I don't think the conversation went the best before and I want your advice on what I can do to have different outcomes in making my calls."

What??? Calling a sales expert who trains people to be more successful in sales to ask for advice? Now THAT got me involved! We then had over an hour discussion on the objective of making calls, how to put the focus on the caller instead of our own excitement about what we do, asking good questions and being a great listener. Fortunately, all of these actions are critical skills she had already developed in her years in the medical profession! Now she needed to apply them to her new career in sales.

Virginia showed great professionalism. She did what so many sales professionals will not do. She:

•Evaluated her call objectively - putting aside her emotions and focusing on process and outcome
•Acknowledged that it could have gone much better - admitting that first to herself and then she
•Asked for coaching to do better next time - can you imagine how hard it was to pick up the phone and call me back?

She realized that these first calls in her new role - to the people she had existing relationships with - could make or break her future. She didn't get defensive. She listened to the advice, asked for clarification and drilled down to specific actions she could take. And finally Virginia then committed to those actions.

What a great demonstration of strong emotional intelligence!

Rookie or not, her willingness to call me back sets her apart from a lot of seasoned sales professionals. I think she has a great career ahead of her with that type of mindset.

What about you? What are you currently doing that isn't producing the results you want or need? Who can you call for advice or coaching so you can do better?

And the challenge...pick up the phone and call them...you'll be glad you did.

Sales expert Nancy Bleeke, The SalesProInsider, helps organizations set aggressive sales goals and achieve them while boosting profitability by hiring, training and retaining the best employees. She shares her expertise with the Timely Tips ezine and her blog. Learn more and download a free ebook at www.salesproinsider.com

Wednesday, July 29, 2009

Why Aren't They Into You?

Yesterday Tom Stanfill of Aslan Training talked about those conversations with your prospects that seem to go great, but nothing ever happens. Does this sound familiar to you? "Why do we do this? Because we tend to focus on what we want to hear (this deal is huge, she loves us) vs. focusing on why it wouldn't work," says Stanfill.

"In sales, our only resource is time and where you choose to invest it will ultimately determine your success," explains Stanfill. "So wasting time chasing a deal is just not an option. Too many decision-makers are interested in what you have to say because they do have a desire for your solution (or the desire to know more), but they just don't have resources. I'm not saying to be negative, but just be strategic. Believe the best about people and the future, but be shrewd. Determining who can act now and who can't is paramount to surviving in sales."

So How Do You Know if They're Just Not That Into You?

Here are some simple signs to watch for:

--If they don't ask tough questions to try and determine why you vs. the competition...or to resolve concerns they may have about your solution, they're just not that into you.
--Either they have a budget or they don't. If they won't share that fact and the process to getting funding, they're just not that into you.
--If they don't have a good answer for the question: "If you didn't invest in _____, what would happen?"...they're just not that into you.

The Application

If you've been in sales a while you know it's not that simple, we always have to balance qualifying (self-centered) without sacrificing the relationship. Here are some keys to help you get at the truth:

--Encourage them to talk about what is on their agenda vs. framing the conversation around what you offer. If your solution is not on the list or low on the list, the opportunity is not very qualified.
--Focus the qualifying questions at the end of the first meeting. This will allow you to first establish a good foundation of trust, credibility, and rapport by concentrating on what is most important to them, but at the same time you must know where you stand at the end of the first meeting.
--Provide an other-centered (vs. self-centered) purpose for the questions you ask. Prime the tough questions with a reason why it is in their best interest to be honest about their answer. This will take some time because you will quickly realize that most of your qualifying questions are about you.
--Don't be afraid to ask the tough questions. If it is a real decision-maker, their respect for you as a potential partner will increase. If the person is playing a charade, they may seem irritated, but just know that they most likely are trying to hide their true intentions. In other words, the decision-maker likes when you ask tough questions and someone who is wasting your time, doesn't. That being said, always assess how you have framed your questions just to ensure it is not your approach that elicited a negative response.
--Use a scale to ensure that any relative terms are clarified. For example: "On a scale of 1 to 10, how likely will you have the resources to invest in this type of solution?" This gives you a clearer perspective of your customer's reality and will help you fight the temptation to be overly positive about the potential opportunity.
--Lastly, appeal to their consciousness. Let them know that you just need their advice as to how to proceed (i.e., What would do if you were me?). Communicate that you are comfortable with the fact that your solution may not be a fit and you just want to make sure you don't waste their time. This approach creates a little less formal atmosphere and encourages the prospect to be a bit more empathetic to the challenges of your role.

Tom Stanfill is the CEO of Aslan Sales Training. Aslan helps organizations that primarily prospect, sell and manage customers using the telephone. Download their free whitepaper, The Seven Barriers to Inside Sales Success.

Tuesday, July 28, 2009

They're Just Not That Into You

Don't worry, this isn't turning into a relationships blog - unless you count client relationships! Today Tom Stanfill at Aslan Training will explain why you may not be getting the whole story from your clients. Learn why, and then tomorrow we'll show you how to spot the signs of someone who's just not that into you.

"Your prospects are not telling you the truth," says Stanfill. "It's not that they are really lying to you, it's just that they are not telling you the whole story. Is that their fault or yours? It's yours. In this economy our biggest challenge as sales consultants may be getting to the truth and finding the real opportunities. Let me illustrate."

"Recently a friend called to ask me about my interest in partnering with him to buy a house in a very expensive development near the beach. Here's the reality (a key word) - although I would love to buy a lot in this development, I have absolutely zero ability to pull that off right now. But here's what I said, "Jim that sounds great. I've always loved that development. Why don't you look further into it and see what you find. Do you think we could get a deal?"

Why would I say that if I had zero ability to invest in a vacation home? For the same three reasons your prospects act interested in your solution when they have little or no ability to fund it:

--Pride. Pride keeps me from being honest about my actual resources or, in the case of your prospects, their power to access the resources or influence people in the organization
--Conflict avoidant. It's just easier to go along with the conversation than to deal with any potential conflict that may arise by telling the truth.
--Sincere desire for the offer. I really would like to buy a vacation home. So, just like your prospects, my desire for the vacation was more enjoyable to discuss than focusing on the likelihood of funding it.

"There is only one reason the prospect would be completely candid - to help you," explains Stanfill. "And it's just not that common to bump into a prospect whose focus is to make sure you don't waste your time."

"The bottom line is, regardless of the reason, we do not have the luxury of operating on half-truths. If my friend Jim had asked a couple of simple questions, he would have quickly learned I was not going to invest in the beach home."

Tom Stanfill is the CEO of Aslan Sales Training. Aslan helps organizations that primarily prospect, sell and manage customers using the telephone. Download their free whitepaper, The Seven Barriers to Inside Sales Success.

Monday, July 27, 2009

Quote of the Week

"The only certain means of success is to render more and better service than is expected of you, no matter what your task may be." -- Og Mandino, author

Sometimes the littlest things mean the most. Let's say you have a meeting with your boss and he wants to go over projections. What about putting together the numbers beforehand, and giving them to him to look over before the meeting? Your ability to meet deadlines and save him time will be very impressive.

Or, a client calls in with a re-order, and you realize that if they changed their ordering schedule they'd be better able to take advantage of company deals. Letting them know about the change would be a money-saver for them - all while winning you major points with them.

What we're trying to say is, you don't have to give the farm away to impress your clients. Just think creatively, think ahead, and always meet your deadlines, and people in your life will be impressed with your hard work. Come on, you can do it!

Friday, July 24, 2009

Who Wins the Gold?

We're now in the second half of the year, and things are changing. New prospects, marketing, and products have ramped up your sales, and you're ready to have the best quarter ever, right? There's nothing wrong with that, but sales trainer Skip Miller says there's something you need to think about first - your customer.

"How much time have you spent seeking to understand what your potential customers want in the second half of the year?" asks Miller. "It's all about them, and since they are the ones with the gold anyway it's time to do some research."

--Ask your current customers what's important to them for the next six months. They have plans too. Chances are your prospects have the same priorities as well.

--It's all about revenue, not about cutting costs. Everyone has already cut out the fat, and anything that will help get revenue and avoid more cuts will be looked at. Stop pitching your cost savings so much, and listen to the prospects plans to get revenue, and see if you can help them.

--Go on the Internet and ask what is important to your main buyer. If you sell to the CFO, CMO, CIO, or executives at small companies, do a search on what's important to them in 2009 or 2010. You will hear from people who ask and answer these questions for a living what they want/need.

"As you plan your prospecting blitz, remember to ask and listen to what's important to them over the next six months, and then determine if you can help them," continues Miller. "Pitching and hoping something sticks may have worked in the past, but not anymore."

"Help your prospects and current customers win their race. Let them get the gold medal. You will win your race, only if your customers finish first. They have a plan. Find out what it is, see if you can help, and if you can, you both get the medal. Now that's victory."

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

Thursday, July 23, 2009

No Budget - Unless, Of Course

Companies everywhere are cutting or their budgets - which, of course is pretty discouraging for us salespeople. After all, no money = no sales, right? Not necessarily, says Linda Richardson on her blog.

Read on for her tips for getting the sale - even when there's no money to be found.
Many of the customers we are talking to may be like your customers. Their budgets have either been cut or all but vanished.

They also have something else in common: their goal to increase revenue and save money in the short-term. You already know how important it is to justify your value to a customer. But, never before has value justification taken on such a critical role in closing business. It now is the key to finding, unlocking, and creating budgets. And the nature of value justification has changed. We are not only in a spreadsheet world but a world that is demanding creativity in finding rationale to buy and identifying non-typical pockets where budgets may be found.

I spoke with a salesperson who, in my view, is a master at conjuring up budgets even when the customer had been unsuccessful in doing so him or herself. It is said that "Necessity is the mother of invention." This seems true for the salesperson. His product was so new and original that not only was there no budget for it (even in good times), there was no one with the responsibility for it.

After identifying who in the organizations were most apt to have needs for his product and then engaging in need dialogues with them and being told there was no budget, he leaned heavily on metrics and creative analysis to prove his product was a smart move and would help his customers achieve their objectives. He captivated and convinced one customer by showing that if his product increased the performance of one of the company's 500 sales reps by 5%, that increase would pay the full cost of the investment. This brought not only a smile to the customer's lips, it gave the customer a rationale to bring to his boss and get the OK.

He showed another customer how his product amounted to .0001% of their total revenue and compared that to the increase in productivity. For another customer who put money aside for replacement of full-time equivalents in anticipation of the company's 10% turnover, he showed that by reducing that fund by one person, the cost of the product was covered, and this potentially reduced turnover and gave needed support to his team of managers.

In each case, he was able to close because he spelled out his value justification in a way that was graphic, concrete, tangible, practical, reasonable, and believable.

Today, it's necessary to go beyond "normal" thinking about value justification. It's necessary to really understand the company's business, deeply probe the customer's needs and find a direct link of your product to the customer's shorter-term objectives, and then justify the price specifically. It takes searching every nook and corner for ways to illustrate value justification.

Closing starts in prep time when you think about the value you bring to the table and continues in the deep need dialogue you lead so you can graphically show dollars and cents value. While the value you show can be longer-term, today, the shorter, the better, and the more specific, the more compelling.

Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com