Want to get your business or career into high gear? Look first at the top line on a profit and loss statement - revenue is the engine that drives all businesses. What's the best way to add value and increase revenue? Needs satisfaction sales techniques.
Many people think of sales as a dark art or as something that's practiced by con artists. Done properly, sales is nothing of the sort - it's merely a process. Like a carpenter building a house, a needs satisfaction salesperson uses a step by step process to satisfy customer needs. Far from a con job, it's a needed and helpful customer service.
Every time we come into contact with a customer we are selling. Follow the below steps to help customers and get your business into high gear.
Step 1. Qualify
Find out whether or not you are dealing with a customer. A "customer" can be defined as someone who does or may need or want your product and who has the immediate ability to purchase it.
When first dealing with a customer, qualify yourself. Explain to the customer why you are an expert in your product line. Tell them that you want to find out about their purchase so that you may use your expertise to help them.
Step 2. Profile
Gain as much information as possible about the customer and their needs and wants. Find out the who, what, where, when and why of their purchase decision. Ask as many questions as are reasonable in the context of the product or service that you are selling.
Generally, the larger the purchase the more complete the purchase profile. Attempting to sell a shirt with the detailed profile required to sell a nuclear power plant will have your customer searching for the nearest exit. In the reverse, your customer will question your ability and the legitimacy of your company.
Step 3 Demonstrate and Gain Agreement
Using the information gained in (and, in many instances, as part of) step two, interact with the customer to demonstrate how your product meets their needs. If they are looking for a blue shirt, show them blue shirts and ask which shade of blue they had in mind. As you propose solutions ("is this right shade of blue?") and the customer chooses from among them, you are accomplishing step 4.
Step 4. Finalize - the "C" word.
Closing a sale is not an event, it is a part of the process. Presuming that (a) you've identified your customers needs and wants and (b) your product or service meets those needs and wants, closing a sale is the natural outcome of your contact with the customer. If a customer describes a shirt that they wish to purchase and they've agreed that the shirt in your hand is that which they've described, the sale is closed except for the paperwork.
Step 5. Overcome Objections
If at any point the above process stalls or stops, it is what's termed "an objection" which is usually a communications failure. Except in relatively rare instances of a "hard" (insurmountable) objection, either you've misunderstood or you've been misunderstood at some point in the process.
While we'll leave specific techniques for overcoming objections for a future article, in general objections are overcome with more or better information. Find out as much as possible about the objection (profile it); from that information determine where the communications failure lies and correct it.
Sales is a key component of any successful business. Learning and practicing needs satisfaction sales techniques can make the sales process as enjoyable as it is profitable.
Sunday, January 21, 2007
We Sell Like We Buy - The Ying and Yang of Sales
Those of us who work with sales organizations, especially with senior leaders, have an interesting vantage point of the ritual of sales, and how it unfolds in different organizations. From this perch we get to see these people in both “buying” and “selling” mode, and with that it has become very clear that with few exceptions, these leaders and their respective sales organizations sell very much like they buy.
This is no surprise as in most cases the nature and character of the whole sales organization is a reflection and extension of the VP of sales. After all they set the tone and direction, forming the foundation on which the culture of the organization is built. This can lead to both positive and negative consequences on their teams’ performance and success.
For example, I recently worked with a company that is a leader in their field, a provider of precision technology; six figure deals with six month cycles. The VP of Sales was looking to help his team maintain and improve their edge and increase their ability to engage and sell executives. He had worked with a number of sales improvement firms in the past and was keen to expand his teams’ knowledge and ability.
From the start, he was very clear as to how he was going to evaluate the providers he was talking with; what his key drivers were, how he would weigh and measure things; what he was willing to invest; what his must and nice to haves were. He was clear on his timelines for exploring, evaluating, deciding and committing. In hind site, when he did sign, he had very effectively executed his “buying process”. And it was no surprise that his team executed their clearly defined “sales process” consistently and efficiently. They were keen to improve, and worked hard to include the new methodology our program delivered. In fact this is the key reality behind why people DO sell like they buy. Many “sellers” do not have a “buying process”, many are not aware of the buyers’ process and its role in the sale. Some are not even cognizant that the important process at play is not their own “sales process”.
This is a common problem; many sales organizations pay only lip service to the prospects’ “buying process”. A study of information management product buyers, showed sellers are more often than not out of synch with their prospects’ buying process, timelines, decision criteria, etc. This is because most Sales VP’s do not have a buying process for their purchases, and therefore do not focus on its importance when they lead their teams. As a result, most are terrible buyers. I worked with another VP, nice guy, but terrible buyer; not terrible because he didn’t buy from me, he did! Terrible because of the way he went about buying. Unable to meet deadlines, constantly shifting priorities, procrastinating and hesitating throughout. Funny, because when he called us; he was concerned about the length of his teams sales cycles, he believed his people were letting the cycle linger, and lacked focus when they executed the “sales process”.
Another VP I met with last summer, a technology company; top quadrant in a crowded field, not quite a commodity play, but they were being challenged. They were experiencing difficulties acquiring, growing and maintaining clients. As you would expect they have a “sales process”. As is often the case, all the talk about the sales process was never balanced by an awareness or focus on the clients’ “buying process”.
When she was describing her challenge she knew what was “wrong”, she explained:
* Average deal was size $32,800, this was usually about 78% of list price
* Her staff is able to get the small revenue - - small margin deals, but is challenged as the deals get larger.
* Deals under $28,000 they were closing 56% of proposals, at between 80% - 85% originally proposed (list) price.
* Deals over $45,000, they were closing only 17% of proposals, and a great many of those at 60% - 65% of original proposed price.
* They were challenged calling the right people, high within companies in the target base.
* While they were seeing growth, year over year it was slower than their segment which was impacting market share.
When she first took the appointment she told me she has been working with a known global provider to achieve her sales training goals. She went to great length to reiterate this when we met; her current provider was “helping her achieve what they needed to once they were in front of a prospect”. This seemed to be at odds with the facts and stats she laid out a few minutes before. She did however acknowledge that her team could benefit from more meeting with real decision makers higher in their client/prospect organizations. Based on the way we cold called her, agreed to let us interview her team to gain a solid understanding of the “ground truth” as a basis for a proposal for a prospecting regiment program.
She did like the program we presented, but right away informed us that the price was too high. I asked what had led her to that conclusion, she told me the other provider was charging half the price, and since they were a “global leader”, our price must be out of whack.
We discussed the team’s results, her awareness that the team was not engaging either with the right people or in sufficient numbers, and while her team has been reduced to price selling, a bigger challenge was the fact that they could not consistently even get in the game to be able to present a price that they would ultimately cut to get the deal. Still she could not get past the price.
Let’s give this some perspective, the cost of the program for the team of 11 reps was less than one new sale; in terms of net margin, just under two additional new sales. (We are talking by the whole team, not each!)
This type of scenario is not uncommon; just speak to anyone who regularly sells to heads of sales organizations. I have heard this from CRM, lead generators, and recruitment professionals. No clear buying process is a clear indicator of a team that has problems with their sales process and related activities.
The real damage here is to her team, not because they are not getting the training they need, not because the training they are getting is a CYA exercise delivered by a “global leader” (full coverage). The real damage is the message it sends to her team, and the resulting culture it produces.
When she was evaluating our proposal, she started and ended with price. She acknowledged the worth of the program; recognized that reference companies we provided had successfully implemented the program, and are now consistently finding and converting sufficient prospects to grow both top and bottom lines. Yet her focus was strictly price; we offered to tie aspects of compensation to specific metrics, but no, she wanted a discount. Sounds a lot like the way her team sells!
What do you think her team is thinking?
The not so subtle message is you can’t beat the status quo unless you discount. While “we talk value, but we buy on price” must be the way everyone buys. “You can discount unconditionally, without reciprocal concessions from the prospect”. Their “sales process” drives this, and the lack of a “buying process” reinforces it. Of course she, like many, would deny that this is the case, and would never articulate in such terms to the team. But it is clear their culture is one of aim low and discount higher. The team sees this in action every time their VP does anything; she says one thing and acts another.
These are but some examples, but over the years the trend is clear and unfailing, they sell the way they buy.
We can predict early in the game as to how things will unfold by asking and understanding early how they went about buying things in the past. Other training, CRM, incentive management systems, what have you. Their answer to those questions gives us immediate insight to how the sale is likely to unfold.
Time after time it has been confirmed to us that if your sales leader does not have a proper understanding of it’s own “buying process”, that is how decisions are made, why, and how they will measure the impact, then we will have to work much harder to earn our money. Not only because the cycle is likely to be longer and harder, but more importantly changing their culture and behavior of the team, the managers, and the VP, will require much more work if we are to make that change lasting. The reason for that is we have to change the way they sell because of the way they buy.
On the other hand if they have a clear methodology for evaluating, buying and measuring their acquisitions, we have a much easier time selling and delivering quality and value. No matter how rigid the system, if it is clear and logical it makes our task easier, both to sell and at times disqualify the opportunity. And as stated above their teams are generally much better to work with, this is equally true in high end solution sales teams or teams selling commodity goods. Sales leaders spend a lot of time “talking” about the “sales process”, the steps needed to build a proper sale, but then undermine their message with their actions. “Results at any cost, more results at a discounted cost”.
Unless these leaders change and come to understand how to “buy”, they will always have a challenge selling. Until they understand the art of “buying” they will continue to make their job and that of their reps more difficult than it has to be. It is the Ying Yang of sales: You sell the way you buy, and you cannot succeed at one without succeeding at the other!
Tibor Shanto, is a Principal with Renbor Sales Solutions Inc., Renbor Sales Solutions Inc. enables companies achieve sustained growth, by focusing on critical aspects of revenue growth. By recognizing that an outstanding sales force is THE differentiator in today’s environment, our clients with our help, focus on the development of both strategic and tactical initiatives to foster a winning team that will out think, out sell and out perform competitors while consistently gaining market share.
Renbor’s Objective Based Selling (OBS) is a structured approach to delivering ongoing results and improvement by focusing the entire sales organization on a key set of objectives. The overarching objective for any sales organization is to achieve exceptional and sustainable revenue growth. This is accomplished by creating a culture of sales excellence built around the principles and processes adopted by world-class sales organizations.
This is no surprise as in most cases the nature and character of the whole sales organization is a reflection and extension of the VP of sales. After all they set the tone and direction, forming the foundation on which the culture of the organization is built. This can lead to both positive and negative consequences on their teams’ performance and success.
For example, I recently worked with a company that is a leader in their field, a provider of precision technology; six figure deals with six month cycles. The VP of Sales was looking to help his team maintain and improve their edge and increase their ability to engage and sell executives. He had worked with a number of sales improvement firms in the past and was keen to expand his teams’ knowledge and ability.
From the start, he was very clear as to how he was going to evaluate the providers he was talking with; what his key drivers were, how he would weigh and measure things; what he was willing to invest; what his must and nice to haves were. He was clear on his timelines for exploring, evaluating, deciding and committing. In hind site, when he did sign, he had very effectively executed his “buying process”. And it was no surprise that his team executed their clearly defined “sales process” consistently and efficiently. They were keen to improve, and worked hard to include the new methodology our program delivered. In fact this is the key reality behind why people DO sell like they buy. Many “sellers” do not have a “buying process”, many are not aware of the buyers’ process and its role in the sale. Some are not even cognizant that the important process at play is not their own “sales process”.
This is a common problem; many sales organizations pay only lip service to the prospects’ “buying process”. A study of information management product buyers, showed sellers are more often than not out of synch with their prospects’ buying process, timelines, decision criteria, etc. This is because most Sales VP’s do not have a buying process for their purchases, and therefore do not focus on its importance when they lead their teams. As a result, most are terrible buyers. I worked with another VP, nice guy, but terrible buyer; not terrible because he didn’t buy from me, he did! Terrible because of the way he went about buying. Unable to meet deadlines, constantly shifting priorities, procrastinating and hesitating throughout. Funny, because when he called us; he was concerned about the length of his teams sales cycles, he believed his people were letting the cycle linger, and lacked focus when they executed the “sales process”.
Another VP I met with last summer, a technology company; top quadrant in a crowded field, not quite a commodity play, but they were being challenged. They were experiencing difficulties acquiring, growing and maintaining clients. As you would expect they have a “sales process”. As is often the case, all the talk about the sales process was never balanced by an awareness or focus on the clients’ “buying process”.
When she was describing her challenge she knew what was “wrong”, she explained:
* Average deal was size $32,800, this was usually about 78% of list price
* Her staff is able to get the small revenue - - small margin deals, but is challenged as the deals get larger.
* Deals under $28,000 they were closing 56% of proposals, at between 80% - 85% originally proposed (list) price.
* Deals over $45,000, they were closing only 17% of proposals, and a great many of those at 60% - 65% of original proposed price.
* They were challenged calling the right people, high within companies in the target base.
* While they were seeing growth, year over year it was slower than their segment which was impacting market share.
When she first took the appointment she told me she has been working with a known global provider to achieve her sales training goals. She went to great length to reiterate this when we met; her current provider was “helping her achieve what they needed to once they were in front of a prospect”. This seemed to be at odds with the facts and stats she laid out a few minutes before. She did however acknowledge that her team could benefit from more meeting with real decision makers higher in their client/prospect organizations. Based on the way we cold called her, agreed to let us interview her team to gain a solid understanding of the “ground truth” as a basis for a proposal for a prospecting regiment program.
She did like the program we presented, but right away informed us that the price was too high. I asked what had led her to that conclusion, she told me the other provider was charging half the price, and since they were a “global leader”, our price must be out of whack.
We discussed the team’s results, her awareness that the team was not engaging either with the right people or in sufficient numbers, and while her team has been reduced to price selling, a bigger challenge was the fact that they could not consistently even get in the game to be able to present a price that they would ultimately cut to get the deal. Still she could not get past the price.
Let’s give this some perspective, the cost of the program for the team of 11 reps was less than one new sale; in terms of net margin, just under two additional new sales. (We are talking by the whole team, not each!)
This type of scenario is not uncommon; just speak to anyone who regularly sells to heads of sales organizations. I have heard this from CRM, lead generators, and recruitment professionals. No clear buying process is a clear indicator of a team that has problems with their sales process and related activities.
The real damage here is to her team, not because they are not getting the training they need, not because the training they are getting is a CYA exercise delivered by a “global leader” (full coverage). The real damage is the message it sends to her team, and the resulting culture it produces.
When she was evaluating our proposal, she started and ended with price. She acknowledged the worth of the program; recognized that reference companies we provided had successfully implemented the program, and are now consistently finding and converting sufficient prospects to grow both top and bottom lines. Yet her focus was strictly price; we offered to tie aspects of compensation to specific metrics, but no, she wanted a discount. Sounds a lot like the way her team sells!
What do you think her team is thinking?
The not so subtle message is you can’t beat the status quo unless you discount. While “we talk value, but we buy on price” must be the way everyone buys. “You can discount unconditionally, without reciprocal concessions from the prospect”. Their “sales process” drives this, and the lack of a “buying process” reinforces it. Of course she, like many, would deny that this is the case, and would never articulate in such terms to the team. But it is clear their culture is one of aim low and discount higher. The team sees this in action every time their VP does anything; she says one thing and acts another.
These are but some examples, but over the years the trend is clear and unfailing, they sell the way they buy.
We can predict early in the game as to how things will unfold by asking and understanding early how they went about buying things in the past. Other training, CRM, incentive management systems, what have you. Their answer to those questions gives us immediate insight to how the sale is likely to unfold.
Time after time it has been confirmed to us that if your sales leader does not have a proper understanding of it’s own “buying process”, that is how decisions are made, why, and how they will measure the impact, then we will have to work much harder to earn our money. Not only because the cycle is likely to be longer and harder, but more importantly changing their culture and behavior of the team, the managers, and the VP, will require much more work if we are to make that change lasting. The reason for that is we have to change the way they sell because of the way they buy.
On the other hand if they have a clear methodology for evaluating, buying and measuring their acquisitions, we have a much easier time selling and delivering quality and value. No matter how rigid the system, if it is clear and logical it makes our task easier, both to sell and at times disqualify the opportunity. And as stated above their teams are generally much better to work with, this is equally true in high end solution sales teams or teams selling commodity goods. Sales leaders spend a lot of time “talking” about the “sales process”, the steps needed to build a proper sale, but then undermine their message with their actions. “Results at any cost, more results at a discounted cost”.
Unless these leaders change and come to understand how to “buy”, they will always have a challenge selling. Until they understand the art of “buying” they will continue to make their job and that of their reps more difficult than it has to be. It is the Ying Yang of sales: You sell the way you buy, and you cannot succeed at one without succeeding at the other!
Tibor Shanto, is a Principal with Renbor Sales Solutions Inc., Renbor Sales Solutions Inc. enables companies achieve sustained growth, by focusing on critical aspects of revenue growth. By recognizing that an outstanding sales force is THE differentiator in today’s environment, our clients with our help, focus on the development of both strategic and tactical initiatives to foster a winning team that will out think, out sell and out perform competitors while consistently gaining market share.
Renbor’s Objective Based Selling (OBS) is a structured approach to delivering ongoing results and improvement by focusing the entire sales organization on a key set of objectives. The overarching objective for any sales organization is to achieve exceptional and sustainable revenue growth. This is accomplished by creating a culture of sales excellence built around the principles and processes adopted by world-class sales organizations.
A Sales Tip You Can Use: Don't Step On Your Buyer's Toes!
I’m getting really impatient with articles and their authors that tease you with a great title and then fail to deliver even a single tip we can use.
Yesterday, I read a promising piece about staying positive. It did a fine job of developing the problem of creeping negativity, but it didn’t offer a single antidote.
So, let me disclose up front, something you can use every day in selling. It’s a simple idea, but powerful:
Stay out of the way of genuine buyers!
These are folks that enter a typical retail store or who call you on the phone and they’re MOTIVATED. Obviously in a buying mood, they’re scanning your wares or your mind for something to take home.
All you have to do is be pleasant, and be available to answer their occasional questions.
But don’t ask them where they’re from, or if you can help them to find something.
If they’re motivated, or they want something from you, they’ll talk.
Just stay pleasantly within range, so when that small buying question comes up, such as, “Do you have these boots in size 12?” you’ll be Johnny on the Spot with an affirmative reply or a suitable alternative.
Speaking of boots, I was shopping for a pair because my Lama lizards were cracking from a little too much exposure to the elements. It was time for a trade-in, so I found a retailer through the web and spent a half hour on the highway to try on some replacements.
The salesman HOVERED, something I can’t stand. He pestered me with questions. I couldn’t get a second to myself to calmly evaluate the pair I was settling on.
Snapped right out of a definite buying mood, I saddled up and sped off.
No sale for that guy!
The following day, I selected a better outfit where the buying tone was just right, and so was the selection, and at this very moment I’m wearing the results on my feet.
Here’s the tip-off.
If the buyer is scanning your inventory with laser eyes let him take the lead, and his good, old time.
Develop your sensitivity.
Recognize when further involvement on your part will only result in stepping on your buyers’ toes!
Yesterday, I read a promising piece about staying positive. It did a fine job of developing the problem of creeping negativity, but it didn’t offer a single antidote.
So, let me disclose up front, something you can use every day in selling. It’s a simple idea, but powerful:
Stay out of the way of genuine buyers!
These are folks that enter a typical retail store or who call you on the phone and they’re MOTIVATED. Obviously in a buying mood, they’re scanning your wares or your mind for something to take home.
All you have to do is be pleasant, and be available to answer their occasional questions.
But don’t ask them where they’re from, or if you can help them to find something.
If they’re motivated, or they want something from you, they’ll talk.
Just stay pleasantly within range, so when that small buying question comes up, such as, “Do you have these boots in size 12?” you’ll be Johnny on the Spot with an affirmative reply or a suitable alternative.
Speaking of boots, I was shopping for a pair because my Lama lizards were cracking from a little too much exposure to the elements. It was time for a trade-in, so I found a retailer through the web and spent a half hour on the highway to try on some replacements.
The salesman HOVERED, something I can’t stand. He pestered me with questions. I couldn’t get a second to myself to calmly evaluate the pair I was settling on.
Snapped right out of a definite buying mood, I saddled up and sped off.
No sale for that guy!
The following day, I selected a better outfit where the buying tone was just right, and so was the selection, and at this very moment I’m wearing the results on my feet.
Here’s the tip-off.
If the buyer is scanning your inventory with laser eyes let him take the lead, and his good, old time.
Develop your sensitivity.
Recognize when further involvement on your part will only result in stepping on your buyers’ toes!
Friday, January 19, 2007
Selling, a Great Career Choice, Part 8 of 8, Virtual Selling for Multiple Income Streams
Selling takes place everywhere, not just in stores or on the telephone. By far, the area of fastest growth in selling is 'virtual' selling or internet selling. Make no mistake about it, if you want to sell anything on the internet you will need to possess virtually all the same skills that are needed to sell successfully in a regular brick and mortar outlet.
In fact, I suggest that in some cases, selling online successfully requires master salespeople. Consumers shop online for two main reasons. They are searching for a product or service that is not readily available in their local marketplace or they are so fed up with dealing with 'average' or 'poor' salespeople that they choose to bypass them altogether.
Complete well rounded sales training will give the online marketer the edge and tools to avoid many of the mistakes that plague undertrained salespeople in the physical marketplace.
If you master selling in a regular business, you can develop multiple streams of income easily and inexpensively by selling online in addition to your regular job. What you offer may be completely different from how you earn your living day to day.
It might be information or a product that you create or have access to. It might relate to something that is of special interest to you or something that you are passionate about. You might even simply sell as an affiliate without your own product at all. The possibilities are endless, but one thing is certain virtual selling can be set up to pay you 24/7 because the internet never sleeps.
Selling as a career can unlock so many doors and so much potential for you if you simply choose to explore it, get yourself properly trained, prepared and take necessary action to make things happen. Yes, you can succeed!
This is the final article in an 8 part series. I invite you to check out the others to discover if a career in selling might serve you or someone you know.
In fact, I suggest that in some cases, selling online successfully requires master salespeople. Consumers shop online for two main reasons. They are searching for a product or service that is not readily available in their local marketplace or they are so fed up with dealing with 'average' or 'poor' salespeople that they choose to bypass them altogether.
Complete well rounded sales training will give the online marketer the edge and tools to avoid many of the mistakes that plague undertrained salespeople in the physical marketplace.
If you master selling in a regular business, you can develop multiple streams of income easily and inexpensively by selling online in addition to your regular job. What you offer may be completely different from how you earn your living day to day.
It might be information or a product that you create or have access to. It might relate to something that is of special interest to you or something that you are passionate about. You might even simply sell as an affiliate without your own product at all. The possibilities are endless, but one thing is certain virtual selling can be set up to pay you 24/7 because the internet never sleeps.
Selling as a career can unlock so many doors and so much potential for you if you simply choose to explore it, get yourself properly trained, prepared and take necessary action to make things happen. Yes, you can succeed!
This is the final article in an 8 part series. I invite you to check out the others to discover if a career in selling might serve you or someone you know.
Thursday, January 18, 2007
Selling, a Great Career Choice, Part 2 of 8, Easy and Inexpensive to Enter
There is no doubt about it. It's a fact of modern life. Formal education can be very expensive and literally bury individuals and whole families under a mountain of debt. The bad news is, that even with the pricy education, your future may not be secure.
Please don't misunderstand, I'm not suggesting that post secondary formal education isn't the way to go. It's extremely valuable for many. What I am suggesting is that it isn't the exclusive path to financial security and it's not something that everyone can obtain for a variety of reasons ranging from financial pressures to grades that don't quite measure up.
Becoming successful in a selling career need not be expensive or even all that time consuming. You don't need the post secondary education. In fact you don't even require a high school diploma, although it helps. You definitely don't need the burden of the of massive student loans and you need not spend years learning before you begin earning. It can easily be a 'learn while you earn' process.
By now you maybe asking a few questions such as,
1. What will it cost to learn how to sell?
2. How long will it take to learn?
3. Who should consider selling as a career?
Let me try to answer those questions for you. If you want to be successful, you will want solid, well rounded training before you begin on your career path. Please don't set yourself up for failure by having less than sufficient skills when you begin. By well rounded, I mean training that not only provides you with techniques, tips and strategies on the actual selling process but most importantly, the emotional tools you will need. Tools to understand and handle what is taking place in the mind of your customers and your own mind throughout the selling experience. Many training programs completely ignore this critical mental aspect of selling. Excellent training can range from a couple hundred dollars to several thousand. Live seminars vary in price as well. You can get started quite modestly and keep layering on your knowledge as you go.
If you can devote a couple of hours every two or three day, you can have the skills needed in a couple of months. If you can go at it bootcamp style, in a week or two you can get be prepared to get started. Then it's a case of ongoing practice and upgrading. A word of caution for you, you can never allow your brain to be so full that you can't learn something new.
Selling is a great career option for a vast cross section of individuals. Let me suggest just a few.
* someone who is looking for a career change
* someone looking to return to the workforce after a number of years
* someone leaving the military
* someone looking to boost his or her income potential
* someone seeking a first job
* someone seeking a career with a future
* someone who is being downsized
* someone taking an early retirement package but still wishing to work
* someone involved in a homebased business
* someone considering selling 'anything' online
* someone forced into a career change because of illness or injury
* someone desiring to be in business for themselves
* someone who is a student seeking lucrative parttime income
Perhaps you see yourself on that list. Please check out all 8 articles in this series. A career in the selling profession just might be right for you or someone close to you.
Please don't misunderstand, I'm not suggesting that post secondary formal education isn't the way to go. It's extremely valuable for many. What I am suggesting is that it isn't the exclusive path to financial security and it's not something that everyone can obtain for a variety of reasons ranging from financial pressures to grades that don't quite measure up.
Becoming successful in a selling career need not be expensive or even all that time consuming. You don't need the post secondary education. In fact you don't even require a high school diploma, although it helps. You definitely don't need the burden of the of massive student loans and you need not spend years learning before you begin earning. It can easily be a 'learn while you earn' process.
By now you maybe asking a few questions such as,
1. What will it cost to learn how to sell?
2. How long will it take to learn?
3. Who should consider selling as a career?
Let me try to answer those questions for you. If you want to be successful, you will want solid, well rounded training before you begin on your career path. Please don't set yourself up for failure by having less than sufficient skills when you begin. By well rounded, I mean training that not only provides you with techniques, tips and strategies on the actual selling process but most importantly, the emotional tools you will need. Tools to understand and handle what is taking place in the mind of your customers and your own mind throughout the selling experience. Many training programs completely ignore this critical mental aspect of selling. Excellent training can range from a couple hundred dollars to several thousand. Live seminars vary in price as well. You can get started quite modestly and keep layering on your knowledge as you go.
If you can devote a couple of hours every two or three day, you can have the skills needed in a couple of months. If you can go at it bootcamp style, in a week or two you can get be prepared to get started. Then it's a case of ongoing practice and upgrading. A word of caution for you, you can never allow your brain to be so full that you can't learn something new.
Selling is a great career option for a vast cross section of individuals. Let me suggest just a few.
* someone who is looking for a career change
* someone looking to return to the workforce after a number of years
* someone leaving the military
* someone looking to boost his or her income potential
* someone seeking a first job
* someone seeking a career with a future
* someone who is being downsized
* someone taking an early retirement package but still wishing to work
* someone involved in a homebased business
* someone considering selling 'anything' online
* someone forced into a career change because of illness or injury
* someone desiring to be in business for themselves
* someone who is a student seeking lucrative parttime income
Perhaps you see yourself on that list. Please check out all 8 articles in this series. A career in the selling profession just might be right for you or someone close to you.
Wednesday, January 17, 2007
To Be Successful...You Must Make Calls Everyday
One of the hardest things for new salespeople to grasp is the fact that calls have to be made everyday, even when it seems as if they don't matter. It's Murphy's Law or something, but when a person is just starting out, it's tough to drum up any real interest in anything. Not to mention interest in whatever product or service you are trying to distribute.
The "pot of gold" at the end of the sales call rainbow only appears if calls are made everyday. A critical mass must be reached, and the only way to reach a critical mass is to make those calls everyday. Those calls can be phone calls or actual interactions in front of prospects; the point is that it must be done everyday. I'm sure you've heard the analogy, but much like a snowball, this is how the critical mass starts.
Does this make it any less frustrating when you are being told NO, over and over again, and not making any money? It sure doesn't, but it also doesn't make it any less true. If you're a salesperson (and who among us isn't) prospects are going to tell you NO a lot. That's just the nature of the game. This is another reason that calls must be made everyday. The more no's you hear, the closer you are to that YES.
This is all simple sales jargon, but again, it's true. The bottom line is that calls must be made every single day if you want to accomplish anything. If you're making calls here and there, you're not going to get anywhere and you'll feel like your spinning your wheels. Focus becomes a key. If staying focused isn't your strongest attribute, I would suggest getting to work on that as well. There are thousands of books and CD's on the subject, so get in there. Just make sure that while you're learning how to stay focused, you also make calls everyday, because that's where the business comes from.
The "pot of gold" at the end of the sales call rainbow only appears if calls are made everyday. A critical mass must be reached, and the only way to reach a critical mass is to make those calls everyday. Those calls can be phone calls or actual interactions in front of prospects; the point is that it must be done everyday. I'm sure you've heard the analogy, but much like a snowball, this is how the critical mass starts.
Does this make it any less frustrating when you are being told NO, over and over again, and not making any money? It sure doesn't, but it also doesn't make it any less true. If you're a salesperson (and who among us isn't) prospects are going to tell you NO a lot. That's just the nature of the game. This is another reason that calls must be made everyday. The more no's you hear, the closer you are to that YES.
This is all simple sales jargon, but again, it's true. The bottom line is that calls must be made every single day if you want to accomplish anything. If you're making calls here and there, you're not going to get anywhere and you'll feel like your spinning your wheels. Focus becomes a key. If staying focused isn't your strongest attribute, I would suggest getting to work on that as well. There are thousands of books and CD's on the subject, so get in there. Just make sure that while you're learning how to stay focused, you also make calls everyday, because that's where the business comes from.
Tuesday, January 16, 2007
Small Mistakes Cost You Big Money
My wife and I were shopping for a new lighting fixture to hang above our dining room table. We wanted something relatively contemporary, and in our quest, we visited over a dozen stores in search of the perfect light. This experience uncovered a wide variety of mistakes that are costing retailers big money in the form of lost sales. Here's an example of some of the situations we have encountered.
1. We walked into one store early in the evening and were greeted with a heavy rock station blasting over the speakers. Although I like rock music, it is definitely NOT appropriate for a retail environment unless you are selling music, extreme sporting goods, or cater directly to a demographic that appreciates this type of music. Based on the selection of product on display, I suspect this lighting store's target market is someone between the ages of 35-70. This means their music choice was a huge blunder, one that could easily have been avoided.
2. Another store promised the region's largest selection of lighting fixtures which definitely intrigued us. We dropped by the store, and indeed, they did have a fantastic selection of lights, including several that appealed to our individual taste. However, very few of the lights were operable which meant we couldn't see what they looked like when lit. Call me silly but when I buy a lighting fixture I expect to be able to turn it on so I can see exactly how it looks when it is lit. Plus, the apparent owner of the store didn’t bother to leave the comfort of the counter and make any attempt to help us.
3. We ventured into another store that had a very good selection of lighting fixtures. We were looking at one in particular and there was an employee standing nearby as we considered it. She mumbled something to us about the light—I guess to help us—but what she said was incomprehensible and she didn’t stick around long enough for us to clarify what she had said. Instead, after making her comment she left us to retreat behind the sales counter.
In the same store, they had a designated sales person roaming the floor but at no time did he approach us even though he had overheard us tell another employee what we were looking for.
4. The website of store number four appealed to my wife for a variety of reasons and it sounded like this might be the place we might find our ideal fixture. Unfortunately, as we opened the door we were assaulted by the smell of stale cigarette smoke. In fact, the entire store smelled like an old gentlemen’s club, and as non-smokers, this definitely turned us off. This store had given us the impression on their website that they had an extremely large selection of contemporary fixtures but their actual selection did not match their advertising. Although there were a few wall hangings and paintings that were attractive, we did not want to bring home the smell of stale smoke, so we left. Oh, did I mention that we were greeted by a small dog who barked at us the entire time we were in the store.
5. We went into another store and noticed several employees standing behind the sales counter, chatting with each other. We wandered around the store and looked at lighting fixtures for approximately seven to ten minutes but at no time did any of these employees make an attempt to assist us. I guess they figured that if we needed help we would ask for it. I can picture their boss questioning them the next day about the lack of sales and can hear them saying, “Oh, it was really quiet last night; we didn’t have anyone in the store.”
I could keep going but I think you get the picture. Each of these retailers made some type of blunder that cost them potential sales and profits. What is extremely unfortunate; is the fact that they probably don't even realize they made these mistakes or how money it cost them.
1. We walked into one store early in the evening and were greeted with a heavy rock station blasting over the speakers. Although I like rock music, it is definitely NOT appropriate for a retail environment unless you are selling music, extreme sporting goods, or cater directly to a demographic that appreciates this type of music. Based on the selection of product on display, I suspect this lighting store's target market is someone between the ages of 35-70. This means their music choice was a huge blunder, one that could easily have been avoided.
2. Another store promised the region's largest selection of lighting fixtures which definitely intrigued us. We dropped by the store, and indeed, they did have a fantastic selection of lights, including several that appealed to our individual taste. However, very few of the lights were operable which meant we couldn't see what they looked like when lit. Call me silly but when I buy a lighting fixture I expect to be able to turn it on so I can see exactly how it looks when it is lit. Plus, the apparent owner of the store didn’t bother to leave the comfort of the counter and make any attempt to help us.
3. We ventured into another store that had a very good selection of lighting fixtures. We were looking at one in particular and there was an employee standing nearby as we considered it. She mumbled something to us about the light—I guess to help us—but what she said was incomprehensible and she didn’t stick around long enough for us to clarify what she had said. Instead, after making her comment she left us to retreat behind the sales counter.
In the same store, they had a designated sales person roaming the floor but at no time did he approach us even though he had overheard us tell another employee what we were looking for.
4. The website of store number four appealed to my wife for a variety of reasons and it sounded like this might be the place we might find our ideal fixture. Unfortunately, as we opened the door we were assaulted by the smell of stale cigarette smoke. In fact, the entire store smelled like an old gentlemen’s club, and as non-smokers, this definitely turned us off. This store had given us the impression on their website that they had an extremely large selection of contemporary fixtures but their actual selection did not match their advertising. Although there were a few wall hangings and paintings that were attractive, we did not want to bring home the smell of stale smoke, so we left. Oh, did I mention that we were greeted by a small dog who barked at us the entire time we were in the store.
5. We went into another store and noticed several employees standing behind the sales counter, chatting with each other. We wandered around the store and looked at lighting fixtures for approximately seven to ten minutes but at no time did any of these employees make an attempt to assist us. I guess they figured that if we needed help we would ask for it. I can picture their boss questioning them the next day about the lack of sales and can hear them saying, “Oh, it was really quiet last night; we didn’t have anyone in the store.”
I could keep going but I think you get the picture. Each of these retailers made some type of blunder that cost them potential sales and profits. What is extremely unfortunate; is the fact that they probably don't even realize they made these mistakes or how money it cost them.
Monday, January 15, 2007
Who's Calling?
One of the most frightening challenges many people have is to pick up the telephone and speak to a decision maker they don’t know, and make an appointment.
And when you think about it, you are calling a decision maker, who is generally a very busy person, with numerous, weighty responsibilities, and asking them to spend some time listening to you. It’s asking a lot when you look at it that way…
So, the question is, why should they agree to see you or I? In answering that, it’s useful to ask ourselves a question: If a total stranger were to call and ask to set a time to see you, what would it take for you to agree? I’m willing to wager, they would need to get your attention and tell you how meeting with them was going to show you a way to either ‘avoid pain’ or ‘gain pleasure’ through your product or service – and tell them confidently and quickly!
Examples of this may include how they could avoid loss (of money), gain time/money. Or avoid losing customers to competition. Increase their customer base. Prevent loss of market share. Increase market share. And if you can’t, do any of those things, why would they want to meet with you? What’s in it for them anyway? If you don’t know the answers to those questions, from your customer’s perspective, find someone to help you brainstorm some ideas and find the answers. It could be the best time you invest in your business this month!
One of the greatest challenges when new business phone calls need to be made is, people have often already worked themselves into a less than useful state of mind. You may done this yourself. Time comes to make the calls. Just before you do, you’ll grab yourself another coffee. Then someone you asked to drop in some artwork calls in, so you look at that. Back at your desk, there’s a message from a friend, so you’d better return that call. Then before you start, you need a tidy desk. Of course, if your business cards aren’t alphabetized, that may slow you down. Your pencil looks a little blunt, so best remedy that. Actually, now is probably a good time to check your stationery supply and get a new pen, because you don’t want that failing you. OK, a quick visit to the bathroom and you’ll be ready to go…
Oh, look at the time! They’re probably at lunch now. Better diarise a time this afternoon to get right on to those calls. OK, so I’m exaggerating, but you get the picture. If we are not prepared, and don’t have a structure that allows us to confidently make the calls, of course we are likely to delay the process.
Many years ago when I started out in my own business, I was selling a US designed product that came complete with a structure for making cold calls. I read through the scripts and thought, “There’s no way I could say that. That’s not my style. Things are different in Australia.” So instead, I started doing things ‘Franks way’. After a period of time not achieving the types of results I was after, I went back to those scripts and thought, “Well, I’ll try it once. Can’t do much harm trying it once.” The difference was immediate!
In Australia we have something of an aversion to working from scripts, and there are a couple of reasons for that. One is, the script wasn’t written by us, so it may call on us to use slightly different language – and that feels uncomfortable. The other thing is, we have no doubt been on the receiving end of a call from a telemarketer who was so determined to stick to their script, they didn’t hear a thing we were saying.
Neither of those those things should prevent us using a well-crafted script as our base. The key is, to learn it so well it becomes second nature, so you can listen to, and work with the person on the other end of the phone. In avoiding making a start, people only deepen their unresourceful state of mind. Before picking up the phone, that state of mind needs to be changed. There are a number of ways to do that, and often individuals know their own system best of all.
And when you think about it, you are calling a decision maker, who is generally a very busy person, with numerous, weighty responsibilities, and asking them to spend some time listening to you. It’s asking a lot when you look at it that way…
So, the question is, why should they agree to see you or I? In answering that, it’s useful to ask ourselves a question: If a total stranger were to call and ask to set a time to see you, what would it take for you to agree? I’m willing to wager, they would need to get your attention and tell you how meeting with them was going to show you a way to either ‘avoid pain’ or ‘gain pleasure’ through your product or service – and tell them confidently and quickly!
Examples of this may include how they could avoid loss (of money), gain time/money. Or avoid losing customers to competition. Increase their customer base. Prevent loss of market share. Increase market share. And if you can’t, do any of those things, why would they want to meet with you? What’s in it for them anyway? If you don’t know the answers to those questions, from your customer’s perspective, find someone to help you brainstorm some ideas and find the answers. It could be the best time you invest in your business this month!
One of the greatest challenges when new business phone calls need to be made is, people have often already worked themselves into a less than useful state of mind. You may done this yourself. Time comes to make the calls. Just before you do, you’ll grab yourself another coffee. Then someone you asked to drop in some artwork calls in, so you look at that. Back at your desk, there’s a message from a friend, so you’d better return that call. Then before you start, you need a tidy desk. Of course, if your business cards aren’t alphabetized, that may slow you down. Your pencil looks a little blunt, so best remedy that. Actually, now is probably a good time to check your stationery supply and get a new pen, because you don’t want that failing you. OK, a quick visit to the bathroom and you’ll be ready to go…
Oh, look at the time! They’re probably at lunch now. Better diarise a time this afternoon to get right on to those calls. OK, so I’m exaggerating, but you get the picture. If we are not prepared, and don’t have a structure that allows us to confidently make the calls, of course we are likely to delay the process.
Many years ago when I started out in my own business, I was selling a US designed product that came complete with a structure for making cold calls. I read through the scripts and thought, “There’s no way I could say that. That’s not my style. Things are different in Australia.” So instead, I started doing things ‘Franks way’. After a period of time not achieving the types of results I was after, I went back to those scripts and thought, “Well, I’ll try it once. Can’t do much harm trying it once.” The difference was immediate!
In Australia we have something of an aversion to working from scripts, and there are a couple of reasons for that. One is, the script wasn’t written by us, so it may call on us to use slightly different language – and that feels uncomfortable. The other thing is, we have no doubt been on the receiving end of a call from a telemarketer who was so determined to stick to their script, they didn’t hear a thing we were saying.
Neither of those those things should prevent us using a well-crafted script as our base. The key is, to learn it so well it becomes second nature, so you can listen to, and work with the person on the other end of the phone. In avoiding making a start, people only deepen their unresourceful state of mind. Before picking up the phone, that state of mind needs to be changed. There are a number of ways to do that, and often individuals know their own system best of all.
Sunday, January 14, 2007
How to Close Larger Deals by Effectively Qualifying Your Sales Prospects
Qualifying your prospects is a critical step in the overall sales cycle. Creating situational awareness for your potential client will increase your probability of closing the sale. Having a better understanding of your prospects needs will also allow you to maximize your deal size.
In qualifying your prospect, you are determining three basics things:
1. What is your customer’s situation now?
2. What would they like it to be?
3. How can you help them get from where they are to where they want to be?
Before initiating a buying process, customers have to:
1. Recognize and understand that they have a need
2. Conclude that the need is significant enough to take action upon
When qualifying opportunities, probe to see how you can make truly valuable contributions to their organization. Help your customers to:
1. Discover opportunities they weren’t aware of or thought insignificant
2. Expand awareness to those opportunities to generate excitement
3. Intensify customer’s dissatisfaction with unsatisfactory situations
You should implement a qualifying process to allow you to gather customer information quickly and efficiently.
Begin your qualifying with broad, general questions about the prospect’s situation and narrow the conversation down to specifics when appropriate. Formulate questions in a way that promotes continuing dialogue, using descriptive words such as explain, describe, explore, tell me about, share with me, etc.
“Would you mind explaining more about your current situation and your strategy for the next 6 months?”
To encourage an open and productive dialogue, transition into qualifying by letting the prospect know why you are asking for the information.
“To be sure we’re recommending the right solution for your needs would you mind if I get your answers to a few questions”
Find the “pain” – explore problems and the impact those problems have on their business.
“What do you feel are some limitations of your current situation?"
Below are some qualifying questions you can customize to your specific product or service.You’ll be amazed of how much information prospects will give up when asked the right question!
* Mr/Mrs Prospect, to be sure we explore areas of mutual interest, what can you share with me about your current environment?
* Could You Describe What Your Current Environment Looks Like?
* What Does Your Ideal Solution Look Like?
* Any Thought on Budget Range?
* Would You Mind Explaining Your Current Situation and Your Strategy For The Next 6-12 Months?
* What are your objectives for the next 3-6 months?
* If money was not an issue what would your ideal situation look like?
* How much growth do you foresee in the next year or two?
* How much do you want to increase your profit this year?
In qualifying your prospect, you are determining three basics things:
1. What is your customer’s situation now?
2. What would they like it to be?
3. How can you help them get from where they are to where they want to be?
Before initiating a buying process, customers have to:
1. Recognize and understand that they have a need
2. Conclude that the need is significant enough to take action upon
When qualifying opportunities, probe to see how you can make truly valuable contributions to their organization. Help your customers to:
1. Discover opportunities they weren’t aware of or thought insignificant
2. Expand awareness to those opportunities to generate excitement
3. Intensify customer’s dissatisfaction with unsatisfactory situations
You should implement a qualifying process to allow you to gather customer information quickly and efficiently.
Begin your qualifying with broad, general questions about the prospect’s situation and narrow the conversation down to specifics when appropriate. Formulate questions in a way that promotes continuing dialogue, using descriptive words such as explain, describe, explore, tell me about, share with me, etc.
“Would you mind explaining more about your current situation and your strategy for the next 6 months?”
To encourage an open and productive dialogue, transition into qualifying by letting the prospect know why you are asking for the information.
“To be sure we’re recommending the right solution for your needs would you mind if I get your answers to a few questions”
Find the “pain” – explore problems and the impact those problems have on their business.
“What do you feel are some limitations of your current situation?"
Below are some qualifying questions you can customize to your specific product or service.You’ll be amazed of how much information prospects will give up when asked the right question!
* Mr/Mrs Prospect, to be sure we explore areas of mutual interest, what can you share with me about your current environment?
* Could You Describe What Your Current Environment Looks Like?
* What Does Your Ideal Solution Look Like?
* Any Thought on Budget Range?
* Would You Mind Explaining Your Current Situation and Your Strategy For The Next 6-12 Months?
* What are your objectives for the next 3-6 months?
* If money was not an issue what would your ideal situation look like?
* How much growth do you foresee in the next year or two?
* How much do you want to increase your profit this year?
Saturday, January 13, 2007
How to Sell Enterprise Resource Planning (ERP) to Small and Medium Business (SMB) Clients
1. SMB market situation
Big competition –The SMB market is characterized by a lot of competitors, who are trying to be market leaders. The competition is tough and we have to fight hard to get a sale.e
Little earning – At the same time, it’s a market that gives us a little earning. It is very hard to drive a consultancy firm living only from the earning from small a midrange customer.
Decision making about 1 year. The decision making does not come overnight. You have to have patience and ensure awareness. You have to keep pushing the same winner buttons: branch specific, state of the art solution and low cost price.
½ day to convince the customer. When the SMB customer wants to se you be sure that you are on immediately available. The SMB company doesn’t wait for you. You got typically ½ day to get yet another invitation into the world of the SMB company and to get the sale.
This leads and trigger white lies – It’s a hard market and we all know that when we’re pushed enough we start to make our little white lies. So everybody without exception makes these white lies or conceals the truth.
2. The characteristics of the SMB customer
Hardworking – They work 24x7x52. They know more than anybody that success in the SMB market requires hard work
Humble – They have a very humble approach to the way of running business.
Proud – They have built their business and are proud of it and remember we are only invited into.
Simple minded – they just love simple solutions. Often they cannot afford the luxury of endless meeting to make decisions
They know the art of survival – They know more than anybody the art of survival. The must be flexible and continuously change according to their business environment
Their business is their life. Once I heard a sales man propose daily fines if we didn’t succeed in meeting the go life deadline in time. He didn’t understand that they were more concerned about surviving the implementation. An implementation drains the business for energy and if its fails it will kill the customer.
3. SMB customer’s perception
It’s legal to say that Enterprise Resource Planning (ERP) is not good – Even persons on the street seems to know. We’re working uphill right from the start.
Too big – It can be difficult to maintain the overview of ERP since there are too many functionalities and constant changes. However, it is necessary to understand what is available and how it can benefit them. On the other hand it takes the customer 5 min to ask for the very deepest functionalities the ERP system. I feel sorry for the other systems. They must give up much sooner.
You’re lost in the ERP system – Nobody seems to know what is going on, there are too many bad stories and you cannot control development.
Not user friendly – ERP much be repeated again and again. The new customers haven’t heard the good news. Too expensive – It is an old story. Now it is cost effective.
4. Enterprise Resource Planning (ERP)
Superior Industry specific ERP template – It no problem to stand up and say: I believe that this is the right solution for you dear customer. The king of functionalities – This is it, I’m still amazed when I make new discoveries. ERP covers the latest best practices and process need for a specific sub industry.
The best documented system – this is in fact a unique selling point. You will get all the support you can get – Some of my colleagues just have to learn to ask within our organization or ERP politely. Just ask politely and you will get the help.
Respect – Everybody respects the ERP system. We know and the customer knows that this is state of the art. Often it is chosen in the preliminary phase only as a reference system to ensure that the cheaper system is good enough.
You have to earn the trust – You don’t immediately have the customer’s trust. You have to earn it.
5. Presales issues
Do not only use salesman. You cannot sell an ERP system with PowerPoint presentations or CATT’s alone. The customer has met too many liars.
Trust – show the system. The customers want to see the system in action in detail! They want to see it before they can trust you.
Be honest so it hurts – You have to be very honest and that may hurts. Then the customer will trust you. The point is that you don’t have to lie. Remember that you have the best solution on the market in your hand.
Trust it. Show the pain points and challenges – Show that you know their business by indicating paint points and challenges that can be eased by using the system. Often they are amazing of the possibilities in the ERP system.
Emphasize template. Repeat again and again that this is a template and that the major decision already has been taken. We don’t need 1 year of analysis phase.
Narrow the scope down. Continue to control and focus on the scope to keep on narrowing it down.
Don’t make it bigger every time the customer has a question.
Fixed price – This shows the customer that you really believe in what you’re selling.
6. How do you present the system?
Trust – show the system, they need to see it working in real life.
Focus on enduser functions. When you show it, focus on enduser functionalities. Customers often have a perception that the system is very poor in this area. Even though you might think it is so simple, show it anyway. You get acceptance right away.
Start from scratch and build up the trust. Build a relationship of trust and a common ground of understanding from scratch.
Show simplicity – Keep it simple. Don’t show 8 different approaches to a problem. Show only what you believe in is best for them. Be straight forward – Show how easily the ERP solution solves even the complex issues.
Answer “razor sharp” every time – When you get a question, answer “razor sharp” every time. Don’t say: “well it depends”. What kind of functionality do you have in mind? You are the master. You are the one bringing in the best practice show it.
Big competition –The SMB market is characterized by a lot of competitors, who are trying to be market leaders. The competition is tough and we have to fight hard to get a sale.e
Little earning – At the same time, it’s a market that gives us a little earning. It is very hard to drive a consultancy firm living only from the earning from small a midrange customer.
Decision making about 1 year. The decision making does not come overnight. You have to have patience and ensure awareness. You have to keep pushing the same winner buttons: branch specific, state of the art solution and low cost price.
½ day to convince the customer. When the SMB customer wants to se you be sure that you are on immediately available. The SMB company doesn’t wait for you. You got typically ½ day to get yet another invitation into the world of the SMB company and to get the sale.
This leads and trigger white lies – It’s a hard market and we all know that when we’re pushed enough we start to make our little white lies. So everybody without exception makes these white lies or conceals the truth.
2. The characteristics of the SMB customer
Hardworking – They work 24x7x52. They know more than anybody that success in the SMB market requires hard work
Humble – They have a very humble approach to the way of running business.
Proud – They have built their business and are proud of it and remember we are only invited into.
Simple minded – they just love simple solutions. Often they cannot afford the luxury of endless meeting to make decisions
They know the art of survival – They know more than anybody the art of survival. The must be flexible and continuously change according to their business environment
Their business is their life. Once I heard a sales man propose daily fines if we didn’t succeed in meeting the go life deadline in time. He didn’t understand that they were more concerned about surviving the implementation. An implementation drains the business for energy and if its fails it will kill the customer.
3. SMB customer’s perception
It’s legal to say that Enterprise Resource Planning (ERP) is not good – Even persons on the street seems to know. We’re working uphill right from the start.
Too big – It can be difficult to maintain the overview of ERP since there are too many functionalities and constant changes. However, it is necessary to understand what is available and how it can benefit them. On the other hand it takes the customer 5 min to ask for the very deepest functionalities the ERP system. I feel sorry for the other systems. They must give up much sooner.
You’re lost in the ERP system – Nobody seems to know what is going on, there are too many bad stories and you cannot control development.
Not user friendly – ERP much be repeated again and again. The new customers haven’t heard the good news. Too expensive – It is an old story. Now it is cost effective.
4. Enterprise Resource Planning (ERP)
Superior Industry specific ERP template – It no problem to stand up and say: I believe that this is the right solution for you dear customer. The king of functionalities – This is it, I’m still amazed when I make new discoveries. ERP covers the latest best practices and process need for a specific sub industry.
The best documented system – this is in fact a unique selling point. You will get all the support you can get – Some of my colleagues just have to learn to ask within our organization or ERP politely. Just ask politely and you will get the help.
Respect – Everybody respects the ERP system. We know and the customer knows that this is state of the art. Often it is chosen in the preliminary phase only as a reference system to ensure that the cheaper system is good enough.
You have to earn the trust – You don’t immediately have the customer’s trust. You have to earn it.
5. Presales issues
Do not only use salesman. You cannot sell an ERP system with PowerPoint presentations or CATT’s alone. The customer has met too many liars.
Trust – show the system. The customers want to see the system in action in detail! They want to see it before they can trust you.
Be honest so it hurts – You have to be very honest and that may hurts. Then the customer will trust you. The point is that you don’t have to lie. Remember that you have the best solution on the market in your hand.
Trust it. Show the pain points and challenges – Show that you know their business by indicating paint points and challenges that can be eased by using the system. Often they are amazing of the possibilities in the ERP system.
Emphasize template. Repeat again and again that this is a template and that the major decision already has been taken. We don’t need 1 year of analysis phase.
Narrow the scope down. Continue to control and focus on the scope to keep on narrowing it down.
Don’t make it bigger every time the customer has a question.
Fixed price – This shows the customer that you really believe in what you’re selling.
6. How do you present the system?
Trust – show the system, they need to see it working in real life.
Focus on enduser functions. When you show it, focus on enduser functionalities. Customers often have a perception that the system is very poor in this area. Even though you might think it is so simple, show it anyway. You get acceptance right away.
Start from scratch and build up the trust. Build a relationship of trust and a common ground of understanding from scratch.
Show simplicity – Keep it simple. Don’t show 8 different approaches to a problem. Show only what you believe in is best for them. Be straight forward – Show how easily the ERP solution solves even the complex issues.
Answer “razor sharp” every time – When you get a question, answer “razor sharp” every time. Don’t say: “well it depends”. What kind of functionality do you have in mind? You are the master. You are the one bringing in the best practice show it.
Friday, January 12, 2007
Banned Until Further Notice: All Boring Business Presentations
Wow!! Wouldn’t it be great if we, business people, could give better presentations...guaranteed to be more interesting, informative and easier to attend and more successful?
Business Presentations, Today.
You arrive in the hotel conference room or auditorium; the chairs and tables are neatly lined up in audience format. The lectern is set-up on stage and there’s this huge screen with a projected greeting, welcoming you to the event. On the tables in front of each chair is a stapled package containing the presentation slides you are about to see during the presentation..
Over my career, I have personally sat through many boring slide presentations at conferences and after the room is darkened, the speaker aims his pen laser at the screen. I start to leaf through the slides in the package. In fact, I usually count the slides in the handout and estimate the time it will take to go through all those busy graphs and information soaked visuals. After some time, I have to fight valiantly against dozing off.
I have also listened to ‘kitchen table’ sales presentations which made me yearn to watch the most boring re-run on TV. No matter the forum, presentations have become all, too common in style.
What Has Happened to Our Presenters?
Over the past thirty years or so, we have discovered ‘overhead slide’ projectors and subsequently graduated to the ‘PowerPoint’ computer slide shows. Our love affair with color slides grew and graphic representations; even video went into high gear. Not one presentation exists without an exhausting and painful display of graphics, numbers, words and colors, complete with special effects and chase scenes.
Audience members are now treated like toddlers whose parents need a break and get it by sitting them in front of the TV to baby-sit for a while. The whole presentation process has become an exercise in visual aids. The audience is left somewhat unattended.
The True Reason for Presentations
As a presenter, your job is to “entertain” your audience with the intent of informing, persuading or selling them on your point of view, your product or service or to convince them to follow you in some endeavor...or to invest their time or money in you. They came to listen to you not to read “your presentation” off a bunch of slides.
The Real Presenter
The Real Presenter should be “Conversing” with her audience. That’s right, she should be speaking to an audience just like she would speak to a group of her closest friends. A presenter, who shares information in a direct and friendly way, with audience interaction, invites interest and discussion.
True Stories
“Jim, a retired airline pilot, told his audience about an episode in which he was giving flying lessons to a new pilot when the engine on the aircraft quit at two thousand feet over an interstate highway. He struggled for some time to restart the engine, but finally had to land the plane in a farmer’s field. The small aircraft wound up leaning on its nose but both he and his student walked away without injury.”
Wouldn’t you want Jim as your instructor? Wouldn’t you feel safe flying on an airliner with Jim at the controls? In one short story, Jim convinced his audience that he knew his business.
“Marty was introducing herself to the group and happened to mention how she backpacked across Europe in her college days, then she stowed away on a “tramp steamer” from southern France to Africa. Her tone and demeanor was relaxed and conversational. Her audience was mesmerized; she had obviously captured their attention. They believed her because she was telling a true story”
Business Presentations, Today.
You arrive in the hotel conference room or auditorium; the chairs and tables are neatly lined up in audience format. The lectern is set-up on stage and there’s this huge screen with a projected greeting, welcoming you to the event. On the tables in front of each chair is a stapled package containing the presentation slides you are about to see during the presentation..
Over my career, I have personally sat through many boring slide presentations at conferences and after the room is darkened, the speaker aims his pen laser at the screen. I start to leaf through the slides in the package. In fact, I usually count the slides in the handout and estimate the time it will take to go through all those busy graphs and information soaked visuals. After some time, I have to fight valiantly against dozing off.
I have also listened to ‘kitchen table’ sales presentations which made me yearn to watch the most boring re-run on TV. No matter the forum, presentations have become all, too common in style.
What Has Happened to Our Presenters?
Over the past thirty years or so, we have discovered ‘overhead slide’ projectors and subsequently graduated to the ‘PowerPoint’ computer slide shows. Our love affair with color slides grew and graphic representations; even video went into high gear. Not one presentation exists without an exhausting and painful display of graphics, numbers, words and colors, complete with special effects and chase scenes.
Audience members are now treated like toddlers whose parents need a break and get it by sitting them in front of the TV to baby-sit for a while. The whole presentation process has become an exercise in visual aids. The audience is left somewhat unattended.
The True Reason for Presentations
As a presenter, your job is to “entertain” your audience with the intent of informing, persuading or selling them on your point of view, your product or service or to convince them to follow you in some endeavor...or to invest their time or money in you. They came to listen to you not to read “your presentation” off a bunch of slides.
The Real Presenter
The Real Presenter should be “Conversing” with her audience. That’s right, she should be speaking to an audience just like she would speak to a group of her closest friends. A presenter, who shares information in a direct and friendly way, with audience interaction, invites interest and discussion.
True Stories
“Jim, a retired airline pilot, told his audience about an episode in which he was giving flying lessons to a new pilot when the engine on the aircraft quit at two thousand feet over an interstate highway. He struggled for some time to restart the engine, but finally had to land the plane in a farmer’s field. The small aircraft wound up leaning on its nose but both he and his student walked away without injury.”
Wouldn’t you want Jim as your instructor? Wouldn’t you feel safe flying on an airliner with Jim at the controls? In one short story, Jim convinced his audience that he knew his business.
“Marty was introducing herself to the group and happened to mention how she backpacked across Europe in her college days, then she stowed away on a “tramp steamer” from southern France to Africa. Her tone and demeanor was relaxed and conversational. Her audience was mesmerized; she had obviously captured their attention. They believed her because she was telling a true story”
Thursday, January 11, 2007
4 Tips to Boost Your Home-Based Business Sales During a Lull
Every business is bound to hit a lull at some point, but many business owners find themselves feeling disappointed by the lack of sales and unfortunately, businesses shut down because of it.
It doesn’t have to be that way. The next time your business takes a sales dive, be prepared, and turn it into an opportunity to revitalize your marketing efforts and start generating sales.
Here are 4 easy ways you can boost your business during a lull:
Have a Sale. This may seem like an obvious answer to some, but others are so bummed out by the lack of business that they don’t even think about it. Even offering a small 10% discount can motivate a customer to click the order button. A product or service that sells for $20 still gives you $18 after the discount, and you may have gained a return customer. Also, offering a discount or other incentive tends to compel customers to buy more then they would without it.
Hold a Draw. Splurge and offer your customers the chance to win a really awesome prize. The catch . . . they have to buy something in order to get a ticket into the draw, the more they buy, the more entries they get. Give yourself at least a month before selecting the winner so that you have a chance to let people know about your draw, and hopefully gain more sales.
Customer Rewards. People love being rewarded for the things they do, and tapping into that can prove to be worthwhile for your business. Set up a points system that allows customers to collect points for items they buy from you, or if you have a business that gives you direct access to your customers, such as distributing orders locally, give out punch cards and tell your customers that every time they spend a certain amount, they get their card punched. Once they have all ten slots punched, they get to turn their card in for special rewards. Promoting your rewards program will get your customers excited about what they can earn, which means you need to offer them worthwhile rewards in return for their efforts, doing so will gain you sales.
Contact Your Past Customers. Get creative and come up with a plan to get in touch with all your past customers, either through email, snail mail postcards or letters, or through phone and fax. Doing so will remind them that you exist, and that they liked you enough to buy from you in the past. Tell them that you are thanking them for being a customer, and because you appreciate their business, you are giving them a special offer. Your offer could be a coupon, a freebie, a buy 1 get one free deal, or any number of things that will encourage them to check you out and take advantage of your offer. Contacting past customers is something you should do on a regular basis, just because they bought from you once doesn’t mean they will return. Life gets in the way, computers crash and info is lost, there are many things that can cause your customer to lose your business information, so make sure it lands in their hands periodically.
It doesn’t have to be that way. The next time your business takes a sales dive, be prepared, and turn it into an opportunity to revitalize your marketing efforts and start generating sales.
Here are 4 easy ways you can boost your business during a lull:
Have a Sale. This may seem like an obvious answer to some, but others are so bummed out by the lack of business that they don’t even think about it. Even offering a small 10% discount can motivate a customer to click the order button. A product or service that sells for $20 still gives you $18 after the discount, and you may have gained a return customer. Also, offering a discount or other incentive tends to compel customers to buy more then they would without it.
Hold a Draw. Splurge and offer your customers the chance to win a really awesome prize. The catch . . . they have to buy something in order to get a ticket into the draw, the more they buy, the more entries they get. Give yourself at least a month before selecting the winner so that you have a chance to let people know about your draw, and hopefully gain more sales.
Customer Rewards. People love being rewarded for the things they do, and tapping into that can prove to be worthwhile for your business. Set up a points system that allows customers to collect points for items they buy from you, or if you have a business that gives you direct access to your customers, such as distributing orders locally, give out punch cards and tell your customers that every time they spend a certain amount, they get their card punched. Once they have all ten slots punched, they get to turn their card in for special rewards. Promoting your rewards program will get your customers excited about what they can earn, which means you need to offer them worthwhile rewards in return for their efforts, doing so will gain you sales.
Contact Your Past Customers. Get creative and come up with a plan to get in touch with all your past customers, either through email, snail mail postcards or letters, or through phone and fax. Doing so will remind them that you exist, and that they liked you enough to buy from you in the past. Tell them that you are thanking them for being a customer, and because you appreciate their business, you are giving them a special offer. Your offer could be a coupon, a freebie, a buy 1 get one free deal, or any number of things that will encourage them to check you out and take advantage of your offer. Contacting past customers is something you should do on a regular basis, just because they bought from you once doesn’t mean they will return. Life gets in the way, computers crash and info is lost, there are many things that can cause your customer to lose your business information, so make sure it lands in their hands periodically.
Wednesday, January 10, 2007
Would You Make the Best Dressed List
In any and every given moment of your life, you are either in command of yourself, or you are being commanded. Guy Finley
Keeping a wardrobe that is complete and always new is rare. The costs of buying clothing today and with the constant change in styles, bargains are a treasure. There is a definite challenge to being well dressed at all times, especially on a limited budget. For working women this is difficult, yet, it can be done.
The key is in the planning. It takes money to build a wardrobe, or to start over from one season to the next. When you plan your wardrobe, keep in mind your particular style or look. If you find yourself asking questions like, What on earth will I wear today? Or, I have got absolutely nothing to wear! Another favorite is to telephone a few friends to see what they are going to wear. If you find yourself doing any of these, then, your goal is to plan.
Asking yourself some of the following questions may prove helpful:
Does your wardrobe consist of more than 20% of clothing you have not worn in over a year, thinking they may come back in style? Do you own enough accessories to start your own craft store? How often do you make impulse purchases? Before purchasing, do you allow enough time to actually try on the garments?
Answering these questions may make you frown, but these fashion problems are not uncommon. Just realizing what your fashion sense is, is the first step.
Getting to know your own particular styles including the strengths and weaknesses of your figure type is a start. Make a point to focus on a clear image of what you consider being well dressed. Knowing what you like, want, and what looks well on you are important. Buy only what suits you best and not rely on the opinion of someone else. Nor should you base your decision only on what is currently popular.
Fashion is distinctive to each individual and does not need to be classified into a standard mold. Let your own taste dictate your fashion and beauty behavior. Pay attention to fashion and beauty magazines and adjust your taste to the fashions that are made available. Rather then being blindly led to something that may just be the popular style of the moment, adjusting your style is the better way to go.
Where do you start to build a best-dressed wardrobe? Start at the beginning and learn to stretch your fashion dollars by saving any clothing you already have. Make an inventory of what you have in your closet. Most of us usually make two main divisions. One is your summer-wear; the other is your winter wear. Stay within reason and keep anything that is still useful and in good condition. Just try not to cling to any clothing, even for sentimental reasons, that have not been worn for over a year. They only take up space.
Dresses, suits and coats are your most important investment and should be cared for properly. Upon removing them at the end of the day, be sure to immediately hang them up on their individual hangers. Check for spots and stains, and if necessary, brush them off and air them first before putting them away.
In dressing well, the other parts of your wardrobe include your shoes and accessories. Shoes are a major item and must be kept clean and in shape as often as possible. Constantly walking along cemented sidewalks can be a death march to your shoe heels and soles. Have them repaired as frequently as possible and discard shoes when they are unsalvageable.
Accessories are additional items that may be the central aim of your outfit. Give them your attention. Jewelry items must be sparkling clean. Any traces of tarnish on silver pieces can be cleaned with silver polish. Soap and warm water may be applied to jeweled rings, except on pearls, to remove dust and dried soap on the stones or settings. A little soap and water rinse, and even a little rubbing alcohol on many costume pieces can bring back the shine.
With a little planning, a lot of care, and special thought to your wardrobe purchases, you can add life to your clothing and have a closet that will rival any superstar. Dressing well is a sign of your self-esteem. And self-esteem is a part of your personal development. Without it, you may not be motivated to pay any special attention to the way you dress. Go do, and be well dressed!
Keeping a wardrobe that is complete and always new is rare. The costs of buying clothing today and with the constant change in styles, bargains are a treasure. There is a definite challenge to being well dressed at all times, especially on a limited budget. For working women this is difficult, yet, it can be done.
The key is in the planning. It takes money to build a wardrobe, or to start over from one season to the next. When you plan your wardrobe, keep in mind your particular style or look. If you find yourself asking questions like, What on earth will I wear today? Or, I have got absolutely nothing to wear! Another favorite is to telephone a few friends to see what they are going to wear. If you find yourself doing any of these, then, your goal is to plan.
Asking yourself some of the following questions may prove helpful:
Does your wardrobe consist of more than 20% of clothing you have not worn in over a year, thinking they may come back in style? Do you own enough accessories to start your own craft store? How often do you make impulse purchases? Before purchasing, do you allow enough time to actually try on the garments?
Answering these questions may make you frown, but these fashion problems are not uncommon. Just realizing what your fashion sense is, is the first step.
Getting to know your own particular styles including the strengths and weaknesses of your figure type is a start. Make a point to focus on a clear image of what you consider being well dressed. Knowing what you like, want, and what looks well on you are important. Buy only what suits you best and not rely on the opinion of someone else. Nor should you base your decision only on what is currently popular.
Fashion is distinctive to each individual and does not need to be classified into a standard mold. Let your own taste dictate your fashion and beauty behavior. Pay attention to fashion and beauty magazines and adjust your taste to the fashions that are made available. Rather then being blindly led to something that may just be the popular style of the moment, adjusting your style is the better way to go.
Where do you start to build a best-dressed wardrobe? Start at the beginning and learn to stretch your fashion dollars by saving any clothing you already have. Make an inventory of what you have in your closet. Most of us usually make two main divisions. One is your summer-wear; the other is your winter wear. Stay within reason and keep anything that is still useful and in good condition. Just try not to cling to any clothing, even for sentimental reasons, that have not been worn for over a year. They only take up space.
Dresses, suits and coats are your most important investment and should be cared for properly. Upon removing them at the end of the day, be sure to immediately hang them up on their individual hangers. Check for spots and stains, and if necessary, brush them off and air them first before putting them away.
In dressing well, the other parts of your wardrobe include your shoes and accessories. Shoes are a major item and must be kept clean and in shape as often as possible. Constantly walking along cemented sidewalks can be a death march to your shoe heels and soles. Have them repaired as frequently as possible and discard shoes when they are unsalvageable.
Accessories are additional items that may be the central aim of your outfit. Give them your attention. Jewelry items must be sparkling clean. Any traces of tarnish on silver pieces can be cleaned with silver polish. Soap and warm water may be applied to jeweled rings, except on pearls, to remove dust and dried soap on the stones or settings. A little soap and water rinse, and even a little rubbing alcohol on many costume pieces can bring back the shine.
With a little planning, a lot of care, and special thought to your wardrobe purchases, you can add life to your clothing and have a closet that will rival any superstar. Dressing well is a sign of your self-esteem. And self-esteem is a part of your personal development. Without it, you may not be motivated to pay any special attention to the way you dress. Go do, and be well dressed!
Tuesday, January 9, 2007
The Sales Lead List and Why You No Longer Need It
Three elements of modern advertising and sales have recently passed on; unfortunately, only a few of us heard about the funeral, leaving the rest of us to lead our daily business sales as if nothing ever happened.
Gone: the influence of big media advertising over the hearts and minds of the people. People are far too smart these days and know when they're being sold something; TV watching hours are down across the board, and who doesn't choose to download their music over listening to the radio these days?
Only the very, very creative pieces will survive. Follow-through sales are plummeting.
Gone: the poster age. Even the simple act of aggressive sales advertising in any media, where fancy images or a catch phrase used to win people over and lead them to the carrot, is now considered so repulsive that people will go out of their way to avoid it.
Definitely gone: the act of using a sales lead list to phone call / email / hit with Direct Mail those who you believe (and don't know) want your stuff. You're letting bad advice lead you astray.
If people aren't willing to sit through a 30 second commercial to hear its selling message, do you honestly think they're going to sit through a half-hour phone conversation and surrender their hard-earned money? Or read a 5 page long sales letter? Or weed their email list just to read your pitch?
Only if you're interested in evapourating sales.
What about those who do you want your stuff? How do you lead them in the right direction?
There are obviously those out there whose needs could be fulfilled by what you're offering, but the big problem is that they don't know how to find you. They're not going to be on a sales lead list, but I can guarantee you that they'll be on their computer surfing the web. It's a paradise of sales, and all you must do is lead them through the maze.
What you need to then do is use search engines to your advantage by matching what people type into them to what you have to offer. Think of it as a no pressure sale; they're literally coming to you because they need a solution to their problem! Direct them and you could be compiling a prospects list in no time.
How a good SEO writer can help you get things in order:
Good SEO writers will have special tools that lets them see exactly what people are typing into Google (and we're talking word for word) and the rest of the search engines. What they're able to do is to hook up the popular and valuable phrases people are typing in to your personal or corporate site so that when online consumers express their desire for what you're offering, their searches will lead them directly to you. There are hundreds of such opportunities for businesses in any category.
Gone: the influence of big media advertising over the hearts and minds of the people. People are far too smart these days and know when they're being sold something; TV watching hours are down across the board, and who doesn't choose to download their music over listening to the radio these days?
Only the very, very creative pieces will survive. Follow-through sales are plummeting.
Gone: the poster age. Even the simple act of aggressive sales advertising in any media, where fancy images or a catch phrase used to win people over and lead them to the carrot, is now considered so repulsive that people will go out of their way to avoid it.
Definitely gone: the act of using a sales lead list to phone call / email / hit with Direct Mail those who you believe (and don't know) want your stuff. You're letting bad advice lead you astray.
If people aren't willing to sit through a 30 second commercial to hear its selling message, do you honestly think they're going to sit through a half-hour phone conversation and surrender their hard-earned money? Or read a 5 page long sales letter? Or weed their email list just to read your pitch?
Only if you're interested in evapourating sales.
What about those who do you want your stuff? How do you lead them in the right direction?
There are obviously those out there whose needs could be fulfilled by what you're offering, but the big problem is that they don't know how to find you. They're not going to be on a sales lead list, but I can guarantee you that they'll be on their computer surfing the web. It's a paradise of sales, and all you must do is lead them through the maze.
What you need to then do is use search engines to your advantage by matching what people type into them to what you have to offer. Think of it as a no pressure sale; they're literally coming to you because they need a solution to their problem! Direct them and you could be compiling a prospects list in no time.
How a good SEO writer can help you get things in order:
Good SEO writers will have special tools that lets them see exactly what people are typing into Google (and we're talking word for word) and the rest of the search engines. What they're able to do is to hook up the popular and valuable phrases people are typing in to your personal or corporate site so that when online consumers express their desire for what you're offering, their searches will lead them directly to you. There are hundreds of such opportunities for businesses in any category.
Monday, January 8, 2007
Negotiation-Dealing With Price And The Closing Stages
Overcoming the Price Objection:
Price is an issue in most negotiations. We need to deal with the price issue confidently, but with an understanding of the needs of the other side. Here are some notes to help you:
• Be specific. State the exact price rather than ....well, it will be about £5,000.
• Maintain eye contact. It makes you look confident.
• Ensure the tone of your voice is confident and your body language is also confident and relaxed.
• Use silence. Once you have stated your price, stop talking and wait for the other side to speak. Give them time to think.
• Deal with price objections and defend your price, but don’t over argue your case.
• Close down your body language.
• Focus on price and benefit differences.
• Begin the bargaining phase.
The Closing Stages:
The closing stages of any negotiation are vital to the overall success of the final deal. There will come a time when both parties can sense an outcome is possible, and each negotiator needs to be careful not to be too eager to close or else the other party will be tempted to hold back for further concessions.
Once a likely outcome is seen, either party may define outstanding issues, compare arguments and objections, review the position to date and agree a deadline for agreement. If one side avoids making these decisions, the other must probe to find out the reason and deal with it effectively. Negotiators must be careful at this stage to identify tactical delay which deliberately attempts to force further concessions.
The best solution to aim for always, is one where both parties feel they have done well despite having to concede on certain issues. This is called a “win-win” solution. Once either side feels they have arrived at the final deal, it is important to signal this to the other party.
Body language can say as much about what you are thinking as speech. If you have made your final offer, look as if it is your final offer. Simply gathering up your papers, looking at the other side directly in the eye and saying “That is my final offer”, can do this, and silence can be a powerful tool in convincing them you mean what you say.
Be wary of "splitting the difference": If you offer to split the difference, you have, in effect, given the other side a concession that is one-sided. You have said you are prepared to move without asking for commitment in return.
The final consideration is when you have done the deal and both parties are in agreement. Record the details and agree with the other parties involved that your interpretation of events matches theirs. That way there will be no unexpected comeback in the inevitable post-negotiation period when either side reviews how well or badly he has done. Again, this will be minimised if the solution you have arrived at benefits both parties.
Price is an issue in most negotiations. We need to deal with the price issue confidently, but with an understanding of the needs of the other side. Here are some notes to help you:
• Be specific. State the exact price rather than ....well, it will be about £5,000.
• Maintain eye contact. It makes you look confident.
• Ensure the tone of your voice is confident and your body language is also confident and relaxed.
• Use silence. Once you have stated your price, stop talking and wait for the other side to speak. Give them time to think.
• Deal with price objections and defend your price, but don’t over argue your case.
• Close down your body language.
• Focus on price and benefit differences.
• Begin the bargaining phase.
The Closing Stages:
The closing stages of any negotiation are vital to the overall success of the final deal. There will come a time when both parties can sense an outcome is possible, and each negotiator needs to be careful not to be too eager to close or else the other party will be tempted to hold back for further concessions.
Once a likely outcome is seen, either party may define outstanding issues, compare arguments and objections, review the position to date and agree a deadline for agreement. If one side avoids making these decisions, the other must probe to find out the reason and deal with it effectively. Negotiators must be careful at this stage to identify tactical delay which deliberately attempts to force further concessions.
The best solution to aim for always, is one where both parties feel they have done well despite having to concede on certain issues. This is called a “win-win” solution. Once either side feels they have arrived at the final deal, it is important to signal this to the other party.
Body language can say as much about what you are thinking as speech. If you have made your final offer, look as if it is your final offer. Simply gathering up your papers, looking at the other side directly in the eye and saying “That is my final offer”, can do this, and silence can be a powerful tool in convincing them you mean what you say.
Be wary of "splitting the difference": If you offer to split the difference, you have, in effect, given the other side a concession that is one-sided. You have said you are prepared to move without asking for commitment in return.
The final consideration is when you have done the deal and both parties are in agreement. Record the details and agree with the other parties involved that your interpretation of events matches theirs. That way there will be no unexpected comeback in the inevitable post-negotiation period when either side reviews how well or badly he has done. Again, this will be minimised if the solution you have arrived at benefits both parties.
Sunday, January 7, 2007
Ego? At What Price!
It would seem that some salespeople would rather protect their ego than help a customer and make a sale.
Todays customers can make purchases without ever seeing a human - if they choose to do business that way.
To truly succeed in the future, sales professionals will be well served by knowing how to handle customers, and all their concerns and complaints.
If not, more than ever before that customer may simply go elsewhere.
So how would you deal with a disgruntled customer, who has a complaint about your product, or the service they received?
Allow me to tell you about an experience I had with a multimedia organisation. I wrote an article about it to demonstrate a point and the article found itself in the hands of the two salespeople I had mentioned, but not identified.
One of the two salespeople who came along to demonstrate the projection unit represented 3M Australia. The other, an authorised distributor.
Both companies telephoned to ask about my article.
3M’s representative called when I was away from the office, and left a message for me to return his call that afternoon if possible. When I spoke with him he said he had read the articles, was concerned, and wanted to make a time to meet with me. I told him that I had still not purchased a unit, and would be glad to see him the following day.
Meanwhile the proprietor of the distribution company was furious She called my office and demanding to speak to the person who has been slandering her company.
“He can’t go around slandering my company and not be available for me to speak to him”.
Clearly I was meant to interrupt my meeting with a client and run to the phone. (Pity her sales people weren’t instructed to do that when someone called to make an enquiry for a $14,000 piece of equipment.)
Returning the call later that afternoon,I was told, “Look I’m very concerned. Business is tough out there and if you haven’t bought something, I sure want to sell you the projector. Do you want to buy one?”
“Well yes I do”, I replied. “Well I’ve got one right here. What do we need to do?” At this point, the process moved from selling to negotiation. “OK, how about the price, what’s the best you can do?” “It’s the end of the financial year, and if you fax me an order tonight I can let you have the unit for $X, and I’ll throw in a travel case worth $1,000 give you one hour of training and will deliver it free”.
Now you and I both know that “value is a perception”, and I perceived no value in the free delivery. That’s a given.
Given my experience with an earlier model, training was not a bonus, and their travel case was not the one I wanted. So I asked, “How much if I don’t take the training, delivery, or the case?” “The price will be the same”, came the reply. “I’ve given you my best price.”
“Hang on - one minute you tell me the case is worth $1,000, then if I don’t take it, it’s worth nothing?” “It’s a value added deal.”
Interesting concept. A value added deal - from who’s perspective?
The distributor told me she had to rush to get to an appointment, so I suggested I would call back in the morning. At 9.30am the next day my p.a. received a call from the distributor demanding to know why I am not available to take the call and why I haven't call as promised. My p.a. explained I was away from the office in a meeting and that I will be available at around 11. At 11:30 a call came in, by which time I had a client in my office.
This seemed to further infuriate the distributor, who again demanded to speak to me, asking my p.a. if I am serious about buying this projector or not!
Explaining the situation again, and assuring the distributor that I would call as soon as I was free, my p.a. again heard how busy this person was, and how my behaviour in not calling her first thing in the morning was just not good enough.
A little after midday, I was able to call. “Well have you decided to buy this projector or not?” she demanded.
“Before we get to that, I understand that you have been a little less than pleasant with my p.a.. Can you help me understand.” “Well you said you would call me back first thing - are you serious about buying this unit or are you just playing games - I cant see why we have to keep making apologies.........” - and so it went on.
“I see. Well I certainly do want to buy this unit as I have for the past eight weeks AND I am also certain that I don’t want to buy it from you!” Herewith ended the conversation - along with any chance this company had of making a sale.
Later that day, as previously arranged, I met with the representative of 3M Australia. What a difference! “Firstly let me apologise for the experience you have had. We have learnt from this and believe we can improve in certain areas. How can I now help you with the projector?” I asked him to let me know the price for the unit minus any “bells and whistles”. As he could not directly sell me the unit he would arrange a price via one of his distributors. (No not the one I had been insulted by!)
In calling the following morning, he apologised for the delay and gave me the price. That afternoon I faxed him an order. I imagine the distributor who has benefited from the sale has had the easiest time of all - all they have to do is bank the cheque! Cheers!
Todays customers can make purchases without ever seeing a human - if they choose to do business that way.
To truly succeed in the future, sales professionals will be well served by knowing how to handle customers, and all their concerns and complaints.
If not, more than ever before that customer may simply go elsewhere.
So how would you deal with a disgruntled customer, who has a complaint about your product, or the service they received?
Allow me to tell you about an experience I had with a multimedia organisation. I wrote an article about it to demonstrate a point and the article found itself in the hands of the two salespeople I had mentioned, but not identified.
One of the two salespeople who came along to demonstrate the projection unit represented 3M Australia. The other, an authorised distributor.
Both companies telephoned to ask about my article.
3M’s representative called when I was away from the office, and left a message for me to return his call that afternoon if possible. When I spoke with him he said he had read the articles, was concerned, and wanted to make a time to meet with me. I told him that I had still not purchased a unit, and would be glad to see him the following day.
Meanwhile the proprietor of the distribution company was furious She called my office and demanding to speak to the person who has been slandering her company.
“He can’t go around slandering my company and not be available for me to speak to him”.
Clearly I was meant to interrupt my meeting with a client and run to the phone. (Pity her sales people weren’t instructed to do that when someone called to make an enquiry for a $14,000 piece of equipment.)
Returning the call later that afternoon,I was told, “Look I’m very concerned. Business is tough out there and if you haven’t bought something, I sure want to sell you the projector. Do you want to buy one?”
“Well yes I do”, I replied. “Well I’ve got one right here. What do we need to do?” At this point, the process moved from selling to negotiation. “OK, how about the price, what’s the best you can do?” “It’s the end of the financial year, and if you fax me an order tonight I can let you have the unit for $X, and I’ll throw in a travel case worth $1,000 give you one hour of training and will deliver it free”.
Now you and I both know that “value is a perception”, and I perceived no value in the free delivery. That’s a given.
Given my experience with an earlier model, training was not a bonus, and their travel case was not the one I wanted. So I asked, “How much if I don’t take the training, delivery, or the case?” “The price will be the same”, came the reply. “I’ve given you my best price.”
“Hang on - one minute you tell me the case is worth $1,000, then if I don’t take it, it’s worth nothing?” “It’s a value added deal.”
Interesting concept. A value added deal - from who’s perspective?
The distributor told me she had to rush to get to an appointment, so I suggested I would call back in the morning. At 9.30am the next day my p.a. received a call from the distributor demanding to know why I am not available to take the call and why I haven't call as promised. My p.a. explained I was away from the office in a meeting and that I will be available at around 11. At 11:30 a call came in, by which time I had a client in my office.
This seemed to further infuriate the distributor, who again demanded to speak to me, asking my p.a. if I am serious about buying this projector or not!
Explaining the situation again, and assuring the distributor that I would call as soon as I was free, my p.a. again heard how busy this person was, and how my behaviour in not calling her first thing in the morning was just not good enough.
A little after midday, I was able to call. “Well have you decided to buy this projector or not?” she demanded.
“Before we get to that, I understand that you have been a little less than pleasant with my p.a.. Can you help me understand.” “Well you said you would call me back first thing - are you serious about buying this unit or are you just playing games - I cant see why we have to keep making apologies.........” - and so it went on.
“I see. Well I certainly do want to buy this unit as I have for the past eight weeks AND I am also certain that I don’t want to buy it from you!” Herewith ended the conversation - along with any chance this company had of making a sale.
Later that day, as previously arranged, I met with the representative of 3M Australia. What a difference! “Firstly let me apologise for the experience you have had. We have learnt from this and believe we can improve in certain areas. How can I now help you with the projector?” I asked him to let me know the price for the unit minus any “bells and whistles”. As he could not directly sell me the unit he would arrange a price via one of his distributors. (No not the one I had been insulted by!)
In calling the following morning, he apologised for the delay and gave me the price. That afternoon I faxed him an order. I imagine the distributor who has benefited from the sale has had the easiest time of all - all they have to do is bank the cheque! Cheers!
Saturday, January 6, 2007
4 Secrets of Hula Hoop Selling!
I admit it.
On the week-end, I had an Endurance Hula-Hoop contest with my 8 and 11 year old nieces! They had a fabulous time laughing at their aunt as I fumbled with the purple hula hoop.
Of course - they had NO PROBLEM keeping that plastic tube flying!
In fact, neither of them even broke a SWEAT.
They both said " Auntie - we could do this for hours!"
One thing I have on them is old age so I watched carefully what they were doing. (Observation goes a lonnnnnnnnnng way in life.)
It took a few tries but before they knew it - their "old" aunt was giving them a run for their money!
As my stomach muscles were screaming in holy terror, I thought ..." This would make a great article on how women approach selling!"
The 4 Secrets of Hula-Hoop Selling:
1. The Hula-Hoop Has To Be The Right Size. It's true! If the hoop is too big or too small - then you're going to struggle. In selling - you struggle when your daily goals are too big or too small. Either way you'll end up feeling frustrated and yet you're not getting anywhere.
2. You Have To Consistently Move! Just as the hula-hoop won't start rolling unless you get those hips going...your sales won't gain momentum if you don't "move" every day. The Stop/Start strategy doesn't work for hula hoops or making money.
3. You Have To Commit To The Right Moves. Putting the hula-hoop on the floor and jumping over it is not the purpose! If you want to play the game, you have to do it right and be willing to make mistakes. Selling is all about commitment. Where are you at?
4. Don't Quit. Yup - sometimes the hula-hoop falls from a bad manoever or from lack of movement. So do your sales. The numbers don't lie honey! So if you have dropped the "hoop" just pick it up again and start moving.
Momentum Is Never An Accident!
I first watched my nieces in amazement as they made keeping the hula-hoop up look EFFORTLESS.
Then I realized what they were doing.
They had found the rhythm of it. Once they had the "formula" for what worked - they hardly had to work at all to keep the momentum going.
On the week-end, I had an Endurance Hula-Hoop contest with my 8 and 11 year old nieces! They had a fabulous time laughing at their aunt as I fumbled with the purple hula hoop.
Of course - they had NO PROBLEM keeping that plastic tube flying!
In fact, neither of them even broke a SWEAT.
They both said " Auntie - we could do this for hours!"
One thing I have on them is old age so I watched carefully what they were doing. (Observation goes a lonnnnnnnnnng way in life.)
It took a few tries but before they knew it - their "old" aunt was giving them a run for their money!
As my stomach muscles were screaming in holy terror, I thought ..." This would make a great article on how women approach selling!"
The 4 Secrets of Hula-Hoop Selling:
1. The Hula-Hoop Has To Be The Right Size. It's true! If the hoop is too big or too small - then you're going to struggle. In selling - you struggle when your daily goals are too big or too small. Either way you'll end up feeling frustrated and yet you're not getting anywhere.
2. You Have To Consistently Move! Just as the hula-hoop won't start rolling unless you get those hips going...your sales won't gain momentum if you don't "move" every day. The Stop/Start strategy doesn't work for hula hoops or making money.
3. You Have To Commit To The Right Moves. Putting the hula-hoop on the floor and jumping over it is not the purpose! If you want to play the game, you have to do it right and be willing to make mistakes. Selling is all about commitment. Where are you at?
4. Don't Quit. Yup - sometimes the hula-hoop falls from a bad manoever or from lack of movement. So do your sales. The numbers don't lie honey! So if you have dropped the "hoop" just pick it up again and start moving.
Momentum Is Never An Accident!
I first watched my nieces in amazement as they made keeping the hula-hoop up look EFFORTLESS.
Then I realized what they were doing.
They had found the rhythm of it. Once they had the "formula" for what worked - they hardly had to work at all to keep the momentum going.
Friday, January 5, 2007
Sales Success: Four Critical Steps
It’s been said often, “Some folks can’t seem to see the forest for the trees.” Perhaps that’s true in any arena, but it seems that it’s rampant in sales, especially when sales are down. Time after time, when sales start to fall we find sales people becoming so caught up in the “slump” that they fail to focus on the four critical steps to consistent sales success.
Motivational speaking is a multi-million dollar a year business and, in large part, it is attended by those who need that inspirational reminder of what they already know. Not that speaking for a living is bad. I do that. The audience, however, through years of experience already knows the answer. They just need to be reminded.
Sales people tend to be motivated by immediate gratification. Those who have been in sales successfully for years understand that seeds planted today come to fruition later. Although there are moments of immediate gratification, frequently the fruition will take time. Motivational speeches are, perhaps, that little nudge to focus them not on the slump, but on the outcome.
Let’s define the four critical steps to sales success, in order to re-establish successful habits. Mind you now, once you read this you’ll know just how simple sales success can be, if only you’ll focus on these four items and ignore all other distractions.
Question One: If your income comes from sales, are you making as much as you want or need?
If you answered, yes - Stop reading! You obviously are practicing the fundamental principles that create success and reading further is a distraction. Go back to doing what you do best.
If, on the other hand, you answered No – then you don’t have enough sales. Sales create income and not enough income equals not enough sales. Solution – go get more sales.
Now, I know from making hundreds of presentations to countless sales professionals, some of you are a bit perplexed at my simplistic approach. How, you say, do we just go get more sales? We’ll get to that, but for now stick with me. The first step is increasing your sales volume. Simple. There is nothing hard about this concept. It is critical to grasp, however, because the solution is always to the left. That statement will make sense a bit later.
Question Two: If you don’t have enough sales to support your income needs, then aren’t you lacking in enough people to see – enough presentations or appointments?
This one seems obvious. If you are not generating enough sales volume either you lack people to see (enough appointments) or your closing skills need improvement. More times than not, the issue isn’t just closing skills, it’s people to present to and close.
Motivational speaking is a multi-million dollar a year business and, in large part, it is attended by those who need that inspirational reminder of what they already know. Not that speaking for a living is bad. I do that. The audience, however, through years of experience already knows the answer. They just need to be reminded.
Sales people tend to be motivated by immediate gratification. Those who have been in sales successfully for years understand that seeds planted today come to fruition later. Although there are moments of immediate gratification, frequently the fruition will take time. Motivational speeches are, perhaps, that little nudge to focus them not on the slump, but on the outcome.
Let’s define the four critical steps to sales success, in order to re-establish successful habits. Mind you now, once you read this you’ll know just how simple sales success can be, if only you’ll focus on these four items and ignore all other distractions.
Question One: If your income comes from sales, are you making as much as you want or need?
If you answered, yes - Stop reading! You obviously are practicing the fundamental principles that create success and reading further is a distraction. Go back to doing what you do best.
If, on the other hand, you answered No – then you don’t have enough sales. Sales create income and not enough income equals not enough sales. Solution – go get more sales.
Now, I know from making hundreds of presentations to countless sales professionals, some of you are a bit perplexed at my simplistic approach. How, you say, do we just go get more sales? We’ll get to that, but for now stick with me. The first step is increasing your sales volume. Simple. There is nothing hard about this concept. It is critical to grasp, however, because the solution is always to the left. That statement will make sense a bit later.
Question Two: If you don’t have enough sales to support your income needs, then aren’t you lacking in enough people to see – enough presentations or appointments?
This one seems obvious. If you are not generating enough sales volume either you lack people to see (enough appointments) or your closing skills need improvement. More times than not, the issue isn’t just closing skills, it’s people to present to and close.
Thursday, January 4, 2007
Sell More: Having A Defined Sales Process
Some of the salespeople reading this article book may be muttering to themselves “face to face selling... I wish! If I could only get more in-person time with my prospects, I wouldn’t need to be reading this article!”
If that’s your situation – that once you’re with a prospect, you’re home free and you do really well from there on out in your sales process – then pay careful attention to what we’re about to share with you.
Your challenge is linkage. You don’t start each phase of your sales process with a clear picture in your mind of what the next step is going to be.
Perhaps you feel that your selling process should be different with each prospect or that if you had a template or a system you use with everyone, that would be insincere or it would somehow ring false when you put different people through that same process.
Let’s turn away from sales for a moment.
Let’s talk about brain surgery. Or dental work. Or flying an airplane. Or doing someone’s tax return.
These processes all have the following characteristics in common:
•They are executed by a professional
•He/she has had a good deal of training
•This professional has had plenty of opportunity to practice under the supervision of someone more knowledgeable and experienced
•This person is required to continue their professional learning throughout their career
•This person uses a clearly defined, proven, documented system for making incisions, using anesthetic, take offs and landings, or amortizing expenses
•Many of these processes are system-atized to the point of using simple checklists, logs, and computer programs to ensure the proper sequence and completeness of steps
•Any significant variation or omission in these procedures is at the risk of injury, death, lawsuit, bankruptcy, prison time, or all of the above
If that’s your situation – that once you’re with a prospect, you’re home free and you do really well from there on out in your sales process – then pay careful attention to what we’re about to share with you.
Your challenge is linkage. You don’t start each phase of your sales process with a clear picture in your mind of what the next step is going to be.
Perhaps you feel that your selling process should be different with each prospect or that if you had a template or a system you use with everyone, that would be insincere or it would somehow ring false when you put different people through that same process.
Let’s turn away from sales for a moment.
Let’s talk about brain surgery. Or dental work. Or flying an airplane. Or doing someone’s tax return.
These processes all have the following characteristics in common:
•They are executed by a professional
•He/she has had a good deal of training
•This professional has had plenty of opportunity to practice under the supervision of someone more knowledgeable and experienced
•This person is required to continue their professional learning throughout their career
•This person uses a clearly defined, proven, documented system for making incisions, using anesthetic, take offs and landings, or amortizing expenses
•Many of these processes are system-atized to the point of using simple checklists, logs, and computer programs to ensure the proper sequence and completeness of steps
•Any significant variation or omission in these procedures is at the risk of injury, death, lawsuit, bankruptcy, prison time, or all of the above
Wednesday, January 3, 2007
Sell More Using Sales Psychology
True sales pros use psychology to sell more, the psychology of urgency, time, choice and stories. Let’s look at each.
The psychology of urgency
Another typical sales scenario involves the salesperson doing everything right – until after the first appointment. Then, suddenly, the emails stop, messages don’t get returned, and the lead runs cold, leaving you scratching your head wondering how that nice, friendly, responsive, involved prospect dropped off the face of the earth.
Does that ever happen to you?
What you’ve just experienced is a good sales process gone bad for the lack of a key ingredient: urgency.
As Stephen Covey says, there is a big difference between the “urgent” and the “important.”
In everyday business, the urgent category includes soothing angry clients, “putting out fires,” production stoppages, surprise inspections or audits by regulators, labor problems, media blowups, and things of that nature.
The important category includes things like making employees feel appreciated, upgrading to new office technology, listening to someone’s ideas, increasing your industry knowledge, developing good corporate citizenship (charitable, environmental, etc) and so on.
Guess which category is at the top of every executive’s agenda each morning when they walk in the door?
If you’ve positioned the product or service you’re selling as a “nice to have” instead of a “have to have,” – or even better a “have to have now” – your leads will run cold. Simply put, buying from you (even if it’s important) takes a backseat to the urgent matters of the day.
If you as a salesperson haven’t identified the pain, then you will get a less than urgent response. If you walk up to someone on the street and they have a nail sticking out of their knee- they would have a high sense of urgency to have the nail removed. This is the same with the prospect. When you can identify their “nail” they will want to move on it quickly.
In my seminars, I ask people to think about these questions:
•Why is it urgent for the prospect to ACT NOW?
•What is the incentive?
•How can you create meaningful deadlines?
•How is buying both an important *and* an urgent issue?
Again, I’m not going to supply you with gimmicky stock phrases or clever comebacks, but rather suggest that you spend some time and energy thinking about how to intelligently and professionally address legitimate buying obstacles such as “We have no budget,” “We have no need for this product/service,” “We’re happy with who we’re using,” and “This is bad timing for us.”
I don’t believe in the process of “overcoming objections” – sounds too much like fighting. And if salesis a battle, you’re going to lose.
One method I like to use is simply turning objections into objectives. In other words, if you can intelligently address the objection in terms of reaching a goal, agreement, or solution that addresses the problem, you will be well on your way to collaborating with your future customer on buying your solution.
For example, if the objection is “it’s too expensive,” you can show, in clear dollars and cents terms (and using numbers supplied by your future customer!) how your solution will save money, generate sales, increase profits, reduce costs, etc.
You’re turning the price objection into a value objective.
The psychology of time
A lot of sales trainers suggest using the personal touch: handwritten notes, personalized gifts, etc.
We think these are powerful tools, but for different reasons. Whether a note is typed or handwritten makes little difference in and of itself. Whether the note comes with a small gift (personalized or not) also doesn’t really matter.
Tuesday, January 2, 2007
Cheap Mortgage Leads Equal Bad Leads
"You get what you pay for," the saying goes, and that's the real problem in the mortgage industry. A lot of mortgage lead companies sell leads to other mortgage lead companies which results in recycling leads within the mortgage lead industry before it even gets to the average mortgage loan officer or broker. The aftermath is not pretty, 20-40 calls a day for the prospective borrower just within the first 4 days if the lead being generated.
Obviously this creates a headache for the potential borrower who is being bombarded with endless phone calls, and unnecessary competition for already frustrated loan officers.
The Solution:
* A. Real-Time Leads
* B. Exclusive Leads
* C. Timestamped Leads
* D. Origin-stamped Leads
A. Real-time Mortgage leads are received within seconds of the borrower completing a short online form. These are perfect leads since the prospect is usually able to be contacted within 2 minutes of them filling out the form. The prospect takes the time to fill out a form so are not cold calls nor recycled. Just Fresh Leads. Also the prospect loves the fact that a loan officer got back to them so fast.
B. Exclusive Leads are leads that not only are designated for you but cannot be resold as a semi-exclusive or non-exclusive lead. Make sure the lead company you deal with is a reputable company has timestamped and origin-stamped the lead.
C. Timestamped leads are the only leads that should be bought. If a lead is not timestamped then there is no proof of when the lead actually was submitted. This is the problem that allows crooked lead companies to sell you recycled leads and waste your hard earned money.
D. Origin-stamped leads are leads that are stamped with the website that originated the actual lead. You should look for lead companies that obtain their leads through websites they own and operate themselves. If they won't tell you their website or don't have them posted then it's time to look else where. Otherwise they are obtaining them from third party companies and recycling them.
Remember you work hard for your money so be sure that when you invest with a mortgage lead company that you will be getting your money's worth.
Obviously this creates a headache for the potential borrower who is being bombarded with endless phone calls, and unnecessary competition for already frustrated loan officers.
The Solution:
* A. Real-Time Leads
* B. Exclusive Leads
* C. Timestamped Leads
* D. Origin-stamped Leads
A. Real-time Mortgage leads are received within seconds of the borrower completing a short online form. These are perfect leads since the prospect is usually able to be contacted within 2 minutes of them filling out the form. The prospect takes the time to fill out a form so are not cold calls nor recycled. Just Fresh Leads. Also the prospect loves the fact that a loan officer got back to them so fast.
B. Exclusive Leads are leads that not only are designated for you but cannot be resold as a semi-exclusive or non-exclusive lead. Make sure the lead company you deal with is a reputable company has timestamped and origin-stamped the lead.
C. Timestamped leads are the only leads that should be bought. If a lead is not timestamped then there is no proof of when the lead actually was submitted. This is the problem that allows crooked lead companies to sell you recycled leads and waste your hard earned money.
D. Origin-stamped leads are leads that are stamped with the website that originated the actual lead. You should look for lead companies that obtain their leads through websites they own and operate themselves. If they won't tell you their website or don't have them posted then it's time to look else where. Otherwise they are obtaining them from third party companies and recycling them.
Remember you work hard for your money so be sure that when you invest with a mortgage lead company that you will be getting your money's worth.
Monday, January 1, 2007
Are You Achieving Sustained Sales Growth Efficiently - Reliably And By Design
In his book “Fundamentals of Selling”, Charles Futrell identifies careful use of selling time as perhaps the distinguishing characteristic of the successful salesperson. Frequently there are two main pitfalls that even experienced salespeople can fall into in terms of activities. First, they simply aren’t doing enough. What’s enough? Enough telephone calls to make appointments, enough face-to-face calls, enough calls that involve or influence the decision-makers. In general, the more focused sales activity salespeople generate, the greater the number of sales opportunities they can create.
Poor Quality Activity:
Second, but equally important, salespeople often aren’t clear about how to identify the prospects most likely to have a genuine need for their product or service. Without an objective way to prioritise which prospects to contact first and/or an efficient strategy for contacting them, salespeople are doomed to waste a large percentage of their time.
Another huge dilemma for many salespeople is how to divide their time between servicing existing clients and generating new business from new prospects. Existing clients frequently make requests for service that could be dealt with by support staff. But salespeople who lack a disciplined, future-orientated plan for generating new contacts and sales often find themselves spending more time attending to “urgent” tasks for existing accounts instead. A common approach among salespeople can be summarised in the saying “If you throw enough mud against the wall, some of it is bound to stick”. This approach is exhausting, demoralising, extremely unproductive, and very expensive in the long term.
Speed Of Relaying Customer Information:
The Sales Director provides another interesting dimension to activity management. Apart from product or service knowledge, salespeople require knowledge about prospects, clients, and market trends. Therefore, if the information those salespeople require isn’t relayed in an efficient manner, their “face-to-face” selling activities are dramatically reduced.
Harder Rather Than Smarter:
In the book Emerson’s Essays, there is a section on “Law of Compensation”, which can be summarised simply as “give more, get more” This is what most salespeople try to do, so they end up working harder when they could be working smarter. This begs the question, are your sales activities deciding your strategy or is your strategy deciding your sales activities?
Developing A Consultative Sales Process:
From the Sales Director’s perspective, developing a consultative sales process means developing a comprehensive, formal, realistic and step-by-step outline of what salespeople are expected to do. This is just as appropriate for internal and totally reactive sales teams as it is for external pro-active ones. This outline includes the activity and calls they must make, the relationships they should establish with prospects, the documentation they should use in sales calls, the issues they must discuss and resolve with prospects and the tangible goals they must achieve in sequence along the path to each sale, in order to achieve maximum effectiveness.
It’s only when such an outline is in place that sales management can be in a position to:
* Monitor the sales force’s activity, progress and results,
* Assess issues as they arise and take appropriate action,
* Redirect individual sales effort efficiently.
Poor Quality Activity:
Second, but equally important, salespeople often aren’t clear about how to identify the prospects most likely to have a genuine need for their product or service. Without an objective way to prioritise which prospects to contact first and/or an efficient strategy for contacting them, salespeople are doomed to waste a large percentage of their time.
Another huge dilemma for many salespeople is how to divide their time between servicing existing clients and generating new business from new prospects. Existing clients frequently make requests for service that could be dealt with by support staff. But salespeople who lack a disciplined, future-orientated plan for generating new contacts and sales often find themselves spending more time attending to “urgent” tasks for existing accounts instead. A common approach among salespeople can be summarised in the saying “If you throw enough mud against the wall, some of it is bound to stick”. This approach is exhausting, demoralising, extremely unproductive, and very expensive in the long term.
Speed Of Relaying Customer Information:
The Sales Director provides another interesting dimension to activity management. Apart from product or service knowledge, salespeople require knowledge about prospects, clients, and market trends. Therefore, if the information those salespeople require isn’t relayed in an efficient manner, their “face-to-face” selling activities are dramatically reduced.
Harder Rather Than Smarter:
In the book Emerson’s Essays, there is a section on “Law of Compensation”, which can be summarised simply as “give more, get more” This is what most salespeople try to do, so they end up working harder when they could be working smarter. This begs the question, are your sales activities deciding your strategy or is your strategy deciding your sales activities?
Developing A Consultative Sales Process:
From the Sales Director’s perspective, developing a consultative sales process means developing a comprehensive, formal, realistic and step-by-step outline of what salespeople are expected to do. This is just as appropriate for internal and totally reactive sales teams as it is for external pro-active ones. This outline includes the activity and calls they must make, the relationships they should establish with prospects, the documentation they should use in sales calls, the issues they must discuss and resolve with prospects and the tangible goals they must achieve in sequence along the path to each sale, in order to achieve maximum effectiveness.
It’s only when such an outline is in place that sales management can be in a position to:
* Monitor the sales force’s activity, progress and results,
* Assess issues as they arise and take appropriate action,
* Redirect individual sales effort efficiently.
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