What’s Your Number?

January 23, 2012 By 1 Comment

Sometimes quantity wins

It’s an age-old conundrum: should I try to sell to everybody or only to a few targeted clients? There are valid arguments for both approaches, but it’s not an either/or decision… both are legitimate strategies depending on the circumstances. Here are five reasons to focus on the quantity of prospects in your sales funnel.

Quantity

  1. If you’re just starting out in sales, talk to anybody who will listen. This will help you improve your skills, hone your message and find your target audience. For example, if everybody you talk to in small energy companies has no interest in your widget, you can ignore those prospects and focus on more profitable ones.
  2. The upside of targeting several clients is that if one doesn’t say yes, you’ve got hundreds of others to sell to.
  3. If you’re selling a low-revenue/low-commission product, it doesn’t make financial sense to spend an inordinate amount of time on a single prospect.
  4. If your product is a commodity that can be purchased almost anywhere then targeting clients one-on-one is a waste of time. In this case, it’s more about marketing and customer service to drive repeat sales.
  5. Quantitative selling can be tracked more easily, which is why more companies focus on this approach. For example, if you talk to ten prospects, you will create four proposals, and one sale. In transactional sales, this creates a sense of order and predictability.

So, now you want to know when it’s better to focus on the quality of prospects instead of the quantity? Stay tuned for tomorrow.

One Moore Thing: Every product or service requires a different approach. There is no “one-size-fits-all” methodology for sales. Take some time to scrutinize what you really provide (everybody overrates the importance of their own offering) and sell accordingly.

 

Filed Under: Customer Service, Feature Post, Motivation, Prospecting, Relationships, Sales

You Need Fresh Coffee

January 17, 2012 By Leave a Comment

Bad coffee stinks

I’ve done this, you’ve done this, we’ve all done this. We keep prospective business in our funnel well beyond the time they should have closed. If we’re honest with ourselves (and why should we be dishonest with ourselves?), there is no way we should keep relying on that business to close. It’s a fact that the further beyond the original forecasted closing date a project extends, the less likely it is to ever close.

So why would we keep it in our funnel?

  1. It makes our funnel look larger.
  2. It looks like we’re engaged with more projects or clients.
  3. It makes us look busy enough that we trick ourselves (or our bosses) into believing that we are working harder than we really are.
One Moore Thing: Old prospects are like old coffee. They go bad and start to stink up everything around them. Go find some new business and dump the old coffee.
Filed Under: Feature Post, Prospecting, Sales

Show Me The Money

January 16, 2012 By 4 Comments

You can’t get it without asking for it

The typical sales presentation starts with 45+ minutes of technical features and benefits, many of which are probably missing the needs of the client. After you’ve put the prospect to sleep, then you sneak the price into the end of the presentation. Why do salespeople do this? Are you hoping the audience won’t notice? Are you embarrassed about the price?

Start your next sales presentation by showing the price. That forces the rest of the conversation to support the price using value and will ensure that price isn’t an objection at the end of the discussion. You never know, maybe your price is well below what they expected. I’ve had that happen and by discussing price first, I didn’t talk them out of buying… and the meeting went from hello to agreement in less than 15 minutes.

One Moore Thing: People have more money than time. Starting out with your price will respect that time and the questions they ask will immediately start justifying the investment.

Filed Under: Feature Post, Motivation, Prospecting, Sales, Training/Education

How To Have Naked Meetings

January 13, 2012 By 4 Comments

For successful naked meetings, pants are NOT optional

Your customer calls, telling you they have a problem that you may be able to help with, and they want you to come discuss it. What do you bring? If you’re like most people (especially salespeople), you create a Powerpoint, and pack your briefcase with brochures, product samples, technical documents, and white papers. You arrive at the meeting and the customer takes three minutes to explain their problem while you chew on the inside of your cheek, chomping at the bit to show them everything you’ve brought and how smart that makes you. The next 55 minutes are spent with you barely pausing long enough to catch your breath, while your customer politely nods in between stealing glances at the clock.

You leave the meeting feeling that it went great. You have a potential new project and the customer knows everything you can do. The client is unsatisfied, feeling that you don’t understand the cause of the problem… because you don’t!

Instead of “showing up and throwing up” on your prospect, why not show up with only a pen and paper? I call this a “naked meeting” because you’re not hiding behind the crutch of a prop. It forces you to have a real conversation with the client, and real conversations lead to real insights as to what your customer’s real problem is. That leads to real solutions which further real relationships.

One Moore Thing: Having naked meetings takes courage and confidence. Without props, you can’t BS your way through a meeting. If you don’t know what you’re talking about and don’t have your prospect’s best interests in mind, they’ll see right through you.

Filed Under: Attitude, Customer Service, Motivation, Prospecting, Relationships, Sales

Sell Like Tim Tebow

January 10, 2012 By Leave a Comment

 

Tebow is different. And different is good.

Tim Tebow is different than other quarterbacks in the NFL. He’s not as fast as Michael Vick. He’s not a pure passer like Tom Brady. He’s not a physical freak like Cam Newton. Tebow is just plain different. Instead of a flashy touchdown dance he bows on one knee to show his faith. In press conferences, he always gives credit to his team and coaches rather than talking about himself. He has a long throwing motion that, according to experts, means he won’t ever be a consistent quarterback at the pro level.

But, because he’s different, people talk about him… he’s not just another quarterback. In overtime of last week’s playoff game over my beloved Pittsburgh Steelers, Tebow threw a pass to Demaryius Thomas to win the game. No big deal, this happens every week, right? What makes this unique is that Twitter reported there were 9,420 sport tweets per second after that play. Tebow’s “different” status created more buzz than the royal wedding, the Bin Laden raid, or the death of Steve Jobs.

Let’s face it… your prospect has seen hundreds of salespeople… why are you any different? Instead of trying to blend into a crowd, analyze what makes you unique and then accentuate those traits to set yourself apart from your competition.

One Moore Thing: Be different like Tebow and create buzz like Tebow. Buzz will get you in front of customers.

Filed Under: Attitude, Customer Service, Feature Post, Motivation, Prospecting, Relationships, Sales

Call or Email?

November 7, 2011 By Leave a Comment

Ever used a rotary phone?

Most people default to using email when conversing with customers, partners, and fellow employees. It’s easy, it’s quick, and it provides a record of the conversation. But it’s not always the best mode of communication, often adding stress, time, and confusion to a conversation.

How many times have you been involved in an email exchange that goes back and forth 10–20 times and takes several days? Because people feel safe behind a keyboard, they may also say things they wouldn’t say in person. Or worse, their message may be interpreted wrong by the receiver, which adds to the chaos of a stressful project or conversation. Using email doesn’t allow the reader to pick up on the nuances and inflections of the human voice, like humor or sarcasm. So the next time you think of typing that email, dial the phone instead.

Many interactions could be infinitely more effective by picking up the phone, asking a few clarifying questions, and moving forward. If you need to document the points of the conversation, follow up with an email summarizing what the conversation was and the expectations going forward.

One Moore Thing: Email is for information, not communication. Not all interactions need to be done by phone, but using the phone may get things done faster with more accuracy.

Filed Under: Attitude, Customer Service, Feature Post, Prospecting, Relationships, Sales

What Shape Is Your Business In?

November 4, 2011 By Leave a Comment

Do pushups to push up your sales

You are a window into your business. When you market to customers, they perceive your company by the way you present yourself, and part of that perception is based on your physical appearance. This doesn’t mean you need to have six-pack abs or be a size four, but it does mean you should put some effort into your persona. This isn’t easy and I have struggled with it my entire life, but it definitely makes a difference in the bottom line.

By engaging in a regular exercise regimen, you will stand up straighter, have better skin, higher energy levels, and project confidence. These are traits that attract people to you and your organization.

Ask yourself, “how can my business be in shape if I’m not?”, because that’s the question prospects ask themselves about you.

One Moore Thing: Instead of sitting on the couch in front of the TV, get off your ass and go for a run, join a team, or take some laps in the pool. Make exercise a mandatory part of your professional development plan.

Filed Under: Attitude, Customer Service, Feature Post, Motivation, Prospecting, Relationships, Sales, Training/Education

Why Do You Rob Banks?

November 3, 2011 By 1 Comment

When asked by a reporter why he robbed banks, Willie Sutton reportedly responded “that’s where the money is”.

When you look for a prospect, do you look at where the money is? Following conventional wisdom, you may think that means only marketing to organizations that are either large or or in good financial health. While that may certainly be true, the money may be in other places also:

  • Previous market leader: A company that used to be a leader but has lost market share recently may be a great prospect if they’re trying to regain their position.
  • Company with a unique service or product: They may not be large, but if they do something that few others do, there are probably much higher margins in their business. Look at companies that have few competitors, like trash removal, building restoration, alternative medicine, etc. Hint: many of these are not technology companies, but traditional “boring” businesses that have grown steadily and profitably for decades.
  • Organizations on the brink: Some companies may be desperate to stay afloat, and if your service can change their fortune, they will find the money.

One Moore Thing: Always sell ethically. Do not take advantage of anybody or promise them something you can’t deliver. I’m simply pointing out that the money is not always where you think it is.

Filed Under: Attitude, Motivation, Prospecting, Sales

Keep It Simple, Stupid

October 24, 2011 By Leave a Comment

The simpler the solution the greater the benefit

Marketers will listen to a customer talk about dozens, if not hundreds, of features that they’re looking for and mistakenly believe the customer wants a complex solution. You’re probably no different. If you’re selling a car, you may hear the customer say they want climate control, backup cameras, auto tire inflation, blind spot detection, and self-parking. That means they’re comfortable with complexity and want all the bells and whistles, right? Wrong.

The reason most people look for new processes or elaborate solutions is to actually to make their life easier. Customers want straightforward, uncomplicated and effortless, and they’re normally willing to pay extra for it. They aren’t looking for complexity… they’re looking for simplicity.

One Moore Thing: There’s an acronym that’s been around forever: K.I.S.S. In these politically correct times, it has come to mean Keep It Super Simple, but it actually means Keep It Simple, Stupid. The more confident and smarter you are, the simpler your solution can be presented.

Filed Under: Customer Service, Feature Post, Prospecting, Relationships, Sales

How You Like Them Apples?

October 17, 2011 By Leave a Comment

Even apples to apples is not apples to apples

The phrase “I’d like to do an apples to apples comparison” is Kryptonite for salespeople. Once a prospect says that, they are attempting to commoditize your offering to justify their decision.

If prospects do ask for an apples to apples comparison, it’s because they haven’t seen the value in your offering. Conversely, if they have seen the value, they may not be able to communicate how it translates into gains for their company. And, if they don’t perceive value, they revert to price being the main focus.

Want real-world examples?

  • Vehicles: If it was a pure apples to apples comparison, we’d all be driving Ford Fiestas. The car is reliable, gets good mileage and has the options most people are looking for. But… What if you have 3 kids? What if you need to carry construction supplies? What if you’re 6’3″?
  • Computers: It basically comes down to Apple vs. Windows. Both platforms can accomplish the same tasks. Apple computers are perceived to be easier to use, last longer, and have a coolness factor. Those factors justify a higher price to the users.
  • Clothing: At a minimum, clothing covers our bodies. But clothing is a very personal choice. How does it look on you? How does the material feel? How do people regard you? Most importantly, how does it make you feel? If none of this mattered and we only focused on price, we would all shop at Goodwill.

Apples to apples boils down to price every single time. Instead sell value.

One Moore Thing: Rather than competing in an apples to apples comparison, it’s your job to help the prospect recognize you aren’t selling apples… you’re selling oranges.

Filed Under: Attitude, Feature Post, Prospecting, Sales
« Older Posts
Newer Posts »
Get Adobe Flash playerPlugin by wpburn.com wordpress themes