It seems easy enough to assume that you should open a presentation by talking about your company - after all, that's how you open an interview, which is just another form of a presentation. Right? Wrong! Sales trainer Kelley Robertson explains the detriments this tactic makes to your presentation.
Contrary to popular belief, telling your prospect about your company is NOT an effective way to open your conversation or presentation. In fact, it the worst way to start a sales call or presentation. Here's why.
Your prospect doesn't care about you or your company.
The only thing they want to know is how you can help them. Talking about your company simply does not accomplish this.
Look at it this way...
Have you ever met someone at a networking function who talked and talked and talked? Okay, maybe they only talked for a few minutes but if that conversation was focused on them, chances are you tuned them out real quick.
The same principle rings true for your prospects.
You have very little time to capture a decision maker's attention. That means you should open your presentation with something that demonstrates your knowledge or understanding of your prospect's situation, their business, or a potential problem they may be facing.
Many sales reps have been instructed by someone in their company to open their sales meetings and presentations with an overview of their company. In some cases, this amounts to a five-slide presentation that takes 2-8 minutes to deliver.
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, November 30, 2010
Monday, November 29, 2010
Quote of the Week
"The key is not to prioritize what is on the schedule, but to schedule your priorities." -- Stephen Covey, Author and Speaker
With the holiday season in full swing, your schedule is sure to be packed. Meetings, prospecting, gifts and notes, and 2011 planning are sure to keep you busy. So what can you do to get it all done? Follow author Stephen Covey's advice and schedule your priorities first. Don't let the little things crowd out the important things!
With the holiday season in full swing, your schedule is sure to be packed. Meetings, prospecting, gifts and notes, and 2011 planning are sure to keep you busy. So what can you do to get it all done? Follow author Stephen Covey's advice and schedule your priorities first. Don't let the little things crowd out the important things!
Wednesday, November 24, 2010
Give Thanks
Tomorrow is the Thanksgiving holiday in the U.S. - a time when we reflect on all we have in our lives and give thanks for it. I thought this article from business expert Andrea Nierenberg was a perfect accompaniment.
Giving a heartfelt thank you is one of the kindest and greatest gifts we can give someone. Now as the holidays approach – it is very much a tradition to do so, yet what about giving those warm thank you's throughout the year.
We have this opportunity to do so everyday and I go back to my ‘5 penny tradition’ — each day put five pennies in your pocket and as you go throughout your day — give at least five special thank you’s to the people who touch your life in any way.
Think about who you might be thanking as the season officially begins:
T — Tell a friend, client, connection specifically what they mean to you and how they have helped you. Specifically let them know how you have grown or changed based on a comment or a piece of advice they gave you.
H — Have some humor — and make it heartfelt. Maybe you remind someone of something funny that you shared or a joke — anything to bring a mutual smile to your faces and it is very healthy to laugh every day! Yet-people are different, so perhaps it is very heartfelt and poignant.
A — Make sure to have an attitude of gratitude.We all know that attitude is our choice. Show appreciation as often as you can — never wait on these Opportunities.
N — Nurture every relationship that you work so hard to develop and grow. Stay in touch —be on their radar and constantly find ways to surprise and delight the people in your life. I enjoy learning things about people and strive to learn something new with every encounter — which gives another opportunity to take note and remember something special about them. Just last week, I learned that a new client enjoys ballroom dancing and found a book to send her on the subject which she did not have!
K — Kindness as my wonderful father, Paul would say –‘is a daily practice’. Find opportunities to commit random acts of kindness for others. My favorite line by Mother Theresa is : “Kind words can be short and easy to speak, but their echoes are truly endless.” Everyday find a way to show kindness — or as my father would also say — ‘give everyone you meet a smile and a handshake’ — I think of him everyday as I do so.
Y — Focus on the other YOU –the people who cross your path daily. Learn from everyone as we all have a lesson to share.
O — Opportunities are everywhere — seize them! — be Observant — I try to learn from everyone. Sometimes it might be ‘what not to do’.
U — Think about what makes you unique — and keep a growing list. It may be simple — yet done with consistency and sincerity — it will soon also be your tipping point. Find the special and unique qualities about the people in your life and compliment them on that and it also a way of saying ‘thank you’ to them for being who they are.
Andrea Nierenberg is the president of The Nierenberg Group, a business communications company with a total process for educating, motivating and connecting people. Learn more at www.nierenberggroup.com
The SalesDog blog will be quiet tomorrow and Friday as we take a few days off to relax with our families and give thanks. We'll see you back here on Monday!
Giving a heartfelt thank you is one of the kindest and greatest gifts we can give someone. Now as the holidays approach – it is very much a tradition to do so, yet what about giving those warm thank you's throughout the year.
We have this opportunity to do so everyday and I go back to my ‘5 penny tradition’ — each day put five pennies in your pocket and as you go throughout your day — give at least five special thank you’s to the people who touch your life in any way.
Think about who you might be thanking as the season officially begins:
T — Tell a friend, client, connection specifically what they mean to you and how they have helped you. Specifically let them know how you have grown or changed based on a comment or a piece of advice they gave you.
H — Have some humor — and make it heartfelt. Maybe you remind someone of something funny that you shared or a joke — anything to bring a mutual smile to your faces and it is very healthy to laugh every day! Yet-people are different, so perhaps it is very heartfelt and poignant.
A — Make sure to have an attitude of gratitude.We all know that attitude is our choice. Show appreciation as often as you can — never wait on these Opportunities.
N — Nurture every relationship that you work so hard to develop and grow. Stay in touch —be on their radar and constantly find ways to surprise and delight the people in your life. I enjoy learning things about people and strive to learn something new with every encounter — which gives another opportunity to take note and remember something special about them. Just last week, I learned that a new client enjoys ballroom dancing and found a book to send her on the subject which she did not have!
K — Kindness as my wonderful father, Paul would say –‘is a daily practice’. Find opportunities to commit random acts of kindness for others. My favorite line by Mother Theresa is : “Kind words can be short and easy to speak, but their echoes are truly endless.” Everyday find a way to show kindness — or as my father would also say — ‘give everyone you meet a smile and a handshake’ — I think of him everyday as I do so.
Y — Focus on the other YOU –the people who cross your path daily. Learn from everyone as we all have a lesson to share.
O — Opportunities are everywhere — seize them! — be Observant — I try to learn from everyone. Sometimes it might be ‘what not to do’.
U — Think about what makes you unique — and keep a growing list. It may be simple — yet done with consistency and sincerity — it will soon also be your tipping point. Find the special and unique qualities about the people in your life and compliment them on that and it also a way of saying ‘thank you’ to them for being who they are.
Andrea Nierenberg is the president of The Nierenberg Group, a business communications company with a total process for educating, motivating and connecting people. Learn more at www.nierenberggroup.com
The SalesDog blog will be quiet tomorrow and Friday as we take a few days off to relax with our families and give thanks. We'll see you back here on Monday!
Tuesday, November 23, 2010
The Perils of Discounting
The Whetstone Group has a great newsletter where they dispense advice in a fun problem/analysis/prescription format. It makes things clear and easy to understand. Their advice in this article is especially clear - think twice before discounting! It can have unforseen results.
Problem: The CFO was worried. For the past six months the company's margins had been dropping and now they were at the point where something had to be done. Finance had researched the situation thoroughly and the finger was pointing directly at sales.
Analysis: Ron, the new sales manager, was brought in from outside the company to build sales volume. Aggressive and optimistic, he was determined to make a name for himself quickly. In his eagerness to increase sales, he began to approve his reps' requests for discounts to close deals quicker. He believed shaving a few points off the selling price wouldn't hurt anything, and they'd quickly make it up with increased volume. Pretty soon, as his reps discovered that discounts were easy to get approved, they began offering them more frequently and they became dependent on discounting as their default closing tactic. Sales were increasing, but Ron wasn't paying attention to the bigger picture.
Prescription: Ron didn't realize that if a company's net profit before tax is 10%, for example, a seemingly insignificant 5% reduction in selling price amounts to a 50% hit on the bottom line. Look at the numbers. If you have a sale for $10,000 and the net profit before tax is 10%, that's $1,000. If the salesperson gives up 5% ($500) to close the deal, that's half the company's profit on the sale. It's real money, not funny money. On a personal basis, it's just like you and I giving up half the money we put into our retirement plan.
Discounting seems so innocent; just a few pennies on the dollar, but it can be disastrous. What seems like a minor concession to a customer in order to close a deal often has serious consequences for a company. If the company is publicly traded the analysts will downgrade their opinions of the company and the stock will decline, hurting shareholders and employees alike.
Instead of discounting, learn to create value for your client so they don't feel like they have to ask for discounts. After all, your willingness to give a discount may send a message that you don't think the value is there. But if you must discount, get something of equal or greater value in return; perhaps a larger order, an accelerated payment schedule or some other concession.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Problem: The CFO was worried. For the past six months the company's margins had been dropping and now they were at the point where something had to be done. Finance had researched the situation thoroughly and the finger was pointing directly at sales.
Analysis: Ron, the new sales manager, was brought in from outside the company to build sales volume. Aggressive and optimistic, he was determined to make a name for himself quickly. In his eagerness to increase sales, he began to approve his reps' requests for discounts to close deals quicker. He believed shaving a few points off the selling price wouldn't hurt anything, and they'd quickly make it up with increased volume. Pretty soon, as his reps discovered that discounts were easy to get approved, they began offering them more frequently and they became dependent on discounting as their default closing tactic. Sales were increasing, but Ron wasn't paying attention to the bigger picture.
Prescription: Ron didn't realize that if a company's net profit before tax is 10%, for example, a seemingly insignificant 5% reduction in selling price amounts to a 50% hit on the bottom line. Look at the numbers. If you have a sale for $10,000 and the net profit before tax is 10%, that's $1,000. If the salesperson gives up 5% ($500) to close the deal, that's half the company's profit on the sale. It's real money, not funny money. On a personal basis, it's just like you and I giving up half the money we put into our retirement plan.
Discounting seems so innocent; just a few pennies on the dollar, but it can be disastrous. What seems like a minor concession to a customer in order to close a deal often has serious consequences for a company. If the company is publicly traded the analysts will downgrade their opinions of the company and the stock will decline, hurting shareholders and employees alike.
Instead of discounting, learn to create value for your client so they don't feel like they have to ask for discounts. After all, your willingness to give a discount may send a message that you don't think the value is there. But if you must discount, get something of equal or greater value in return; perhaps a larger order, an accelerated payment schedule or some other concession.
Whetstone Group is a sales process improvement company that focuses on helping companies implement a proven sales process that will increase sales, shorten the selling cycle, increase closing rates, and improve margins. Learn more at www.whetstonegroup.com
Monday, November 22, 2010
Quote of the Week
"Nothing in life is more important than the ability to communicate effectively." -- Gerald R. Ford, 38th President of the United States
Nothing could be more true than this quote - especially in sales! Although email prospecting can get you pretty far, at some point you have to pick up the phone or meet that client face-to-face. If you feel uncomfortable with this aspect of sales, then practice, practice, practice! The more comfortable you are, the better your communication.
Nothing could be more true than this quote - especially in sales! Although email prospecting can get you pretty far, at some point you have to pick up the phone or meet that client face-to-face. If you feel uncomfortable with this aspect of sales, then practice, practice, practice! The more comfortable you are, the better your communication.
Friday, November 19, 2010
You Know Your Sales Process is Outdated When...
Take a cue from sales trainer Colleen Stanley and remove the following things from your sales processes immediately!
Fashions change, seasons change and so do customer needs. So when is the last time your company looked at your sales process to determine it was keeping up to date with the times? The information age has dramatically changed how businesses compete. Small businesses look and act big. New ideas are copied quickly and lead to service and products looking like everyone else. Customers have more options than ever before with access to the internet. The market has changed...has your sales approach?
To quote late night host, David Letterman, "You know it's time to update your sales process when..."
Your sales process includes overcoming objections. Think about this archaic, distasteful selling technique that has been taught to salespeople for years. It sounds like this. "The first objection is never the real one. Overcome the prospects objection three to seven times. Keep overcoming the objections until you get to a yes." It's truly amazing that more salespeople have not been physically thrown out of prospect's offices! Put yourself in the prospect's shoes. Does sitting in front of a salesperson who is "overcoming your objections" really encourage you to tell the truth? Does this type of interface build trust and relationships? If you and your company desire a reputation built on integrity and non-game playing, seek the truth on the sales calls versus the answer you want. For example, if your service is one that a prospect could possibly administer with their in-house staff, bring up that possibility as a discussion point. The so called unspoken objection is on the table and a well trained salesperson can facilitate a meaningful conversation of pro's and con's. A sales conversation that examines all sides of the argument is smart, real and results in the right solution for the prospect and your company.
Leading Questions. "If we could, would you want to hit your deadlines? If we could help you make more money, would you want to engage us?" Now, what kind of a question is that? Of course, your prospects want to hit their deadlines and make more money! Can you imagine an attorney saying the following to a potential client? "If we can prevent your spouse from going to jail, would you want us to do that?" Today's prospects identify leading questions and know the salesperson is trying to lead them to your answer, not their answer. The walls go up and "sales dodge ball" begins. Prospects start holding their cards close to the chest and information gathering gets tighter and tighter. The result is a superficial conversation with no depth. Better questions to ask are, "Let's fast forward. What does it look like if your company continues to miss deadlines? Tell me your view on the profit situation if you keep doing what you are doing. Is the problem going to stay the same, get bigger or go away?" Your job as a sales professional is to gather data, not force and create data.
Selling features, advantages and benefits. The prospect asks the salesperson, "What makes you different?" Outdated answers sound very generic. "We increase productivity, save you money, have good quality and service." This is about the time your prospect goes into "sleep mode" since the last three salespeople answered the question the exact, same way. There is a well known phrase in sales: prospects don't care about what you do, they care about the problems you solve. The new global economy requires salespeople to be critical thinkers and well versed in consultative selling skills. The salesperson trained in consultative sales skills knows how to introduce compelling talking points when setting up the agenda for the sales meeting. "We typically work with companies who are taking too long to get product to market and as a result are losing market share. We work with companies who are tired of spending all their time in company voice mail trees trying to resolve customer service issues." Focus on the prospects issues, not your product and services.
Overly cheerful and enthusiastic. In the good „ole days, salespeople were taught to be enthusiastic and upbeat. Walk into the appointment and be high energy. Question: are your salespeople calling on introverts or extroverts. Probably a combination of both and the poor introverts are often bowled over by fast talk, energetic handshakes and overused expressions like, "how are you today?" The astute salesperson takes her authentic self to the sales call. A question to ask your sales team: "Are you at the appointment to impress or influence?" The impressive salesperson looks good; the influential salesperson makes the prospect look and feel good by adapting to their behavior and communication style. They pay attention to something besides themselves.
You know it's time to update your sales process when you are doing one or all of the above.
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. Reach Colleen at 303.708.1128 or cstanley@salesleadershipdevelopment.com. http://www.salesleadershipdevelopment.com
Fashions change, seasons change and so do customer needs. So when is the last time your company looked at your sales process to determine it was keeping up to date with the times? The information age has dramatically changed how businesses compete. Small businesses look and act big. New ideas are copied quickly and lead to service and products looking like everyone else. Customers have more options than ever before with access to the internet. The market has changed...has your sales approach?
To quote late night host, David Letterman, "You know it's time to update your sales process when..."
Your sales process includes overcoming objections. Think about this archaic, distasteful selling technique that has been taught to salespeople for years. It sounds like this. "The first objection is never the real one. Overcome the prospects objection three to seven times. Keep overcoming the objections until you get to a yes." It's truly amazing that more salespeople have not been physically thrown out of prospect's offices! Put yourself in the prospect's shoes. Does sitting in front of a salesperson who is "overcoming your objections" really encourage you to tell the truth? Does this type of interface build trust and relationships? If you and your company desire a reputation built on integrity and non-game playing, seek the truth on the sales calls versus the answer you want. For example, if your service is one that a prospect could possibly administer with their in-house staff, bring up that possibility as a discussion point. The so called unspoken objection is on the table and a well trained salesperson can facilitate a meaningful conversation of pro's and con's. A sales conversation that examines all sides of the argument is smart, real and results in the right solution for the prospect and your company.
Leading Questions. "If we could, would you want to hit your deadlines? If we could help you make more money, would you want to engage us?" Now, what kind of a question is that? Of course, your prospects want to hit their deadlines and make more money! Can you imagine an attorney saying the following to a potential client? "If we can prevent your spouse from going to jail, would you want us to do that?" Today's prospects identify leading questions and know the salesperson is trying to lead them to your answer, not their answer. The walls go up and "sales dodge ball" begins. Prospects start holding their cards close to the chest and information gathering gets tighter and tighter. The result is a superficial conversation with no depth. Better questions to ask are, "Let's fast forward. What does it look like if your company continues to miss deadlines? Tell me your view on the profit situation if you keep doing what you are doing. Is the problem going to stay the same, get bigger or go away?" Your job as a sales professional is to gather data, not force and create data.
Selling features, advantages and benefits. The prospect asks the salesperson, "What makes you different?" Outdated answers sound very generic. "We increase productivity, save you money, have good quality and service." This is about the time your prospect goes into "sleep mode" since the last three salespeople answered the question the exact, same way. There is a well known phrase in sales: prospects don't care about what you do, they care about the problems you solve. The new global economy requires salespeople to be critical thinkers and well versed in consultative selling skills. The salesperson trained in consultative sales skills knows how to introduce compelling talking points when setting up the agenda for the sales meeting. "We typically work with companies who are taking too long to get product to market and as a result are losing market share. We work with companies who are tired of spending all their time in company voice mail trees trying to resolve customer service issues." Focus on the prospects issues, not your product and services.
Overly cheerful and enthusiastic. In the good „ole days, salespeople were taught to be enthusiastic and upbeat. Walk into the appointment and be high energy. Question: are your salespeople calling on introverts or extroverts. Probably a combination of both and the poor introverts are often bowled over by fast talk, energetic handshakes and overused expressions like, "how are you today?" The astute salesperson takes her authentic self to the sales call. A question to ask your sales team: "Are you at the appointment to impress or influence?" The impressive salesperson looks good; the influential salesperson makes the prospect look and feel good by adapting to their behavior and communication style. They pay attention to something besides themselves.
You know it's time to update your sales process when you are doing one or all of the above.
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. Reach Colleen at 303.708.1128 or cstanley@salesleadershipdevelopment.com. http://www.salesleadershipdevelopment.com
Thursday, November 18, 2010
Don't Make Claims You Can't Back Up
I think this is a great tip from sales expert Art Sobczak - and a quick change you can make in your approach to get more sales!
For years now I have been shaking my head in astonishment that CNN still--delusionally--runs the claim in their ads, "The Most Trusted Name in News."
Huh? The most trusted? By whom?
Without getting into a political rant, let's direct this to a sales point: Unsubstantiated puffed up claims can be easily challenged. Why even take the chance in sales situations?
I always bristle when I hear or see things such as,
"We're the most respected ...?"
How do you measure THAT?
What to do? Easy. If it's true, give the evidence.
"In an industry study, our delivery rates were number one among all companies studied."
"Our order fill-rate is 99.8%. That's the highest of any company that submitted results to Widget News in their recent survey."
We live in an age of cynics and skeptics, unfortunately. It's difficult enough to get
people to believe in us. So, show evidence whenever possible. Why risk creating an objection?
Art Sobczak helps sales pros use the phone to prospect, service and sell more effectively, while eliminating morale-killing rejection. To get FREE weekly emailed TelE-Sales Tips visit: www.BusinessByPhone.com
For years now I have been shaking my head in astonishment that CNN still--delusionally--runs the claim in their ads, "The Most Trusted Name in News."
Huh? The most trusted? By whom?
Without getting into a political rant, let's direct this to a sales point: Unsubstantiated puffed up claims can be easily challenged. Why even take the chance in sales situations?
I always bristle when I hear or see things such as,
"We're the most respected ...?"
How do you measure THAT?
What to do? Easy. If it's true, give the evidence.
"In an industry study, our delivery rates were number one among all companies studied."
"Our order fill-rate is 99.8%. That's the highest of any company that submitted results to Widget News in their recent survey."
We live in an age of cynics and skeptics, unfortunately. It's difficult enough to get
people to believe in us. So, show evidence whenever possible. Why risk creating an objection?
Art Sobczak helps sales pros use the phone to prospect, service and sell more effectively, while eliminating morale-killing rejection. To get FREE weekly emailed TelE-Sales Tips visit: www.BusinessByPhone.com
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