In the Sales Process, Slow Down To Speed Up
Ever wonder whether your buyer knows what you’re going to ask them before you ask?
In this episode, Bill, Bryan and Brooke deal with the issues of how you find the customer problem…and the realization that if you slow down and ask the “right” questions, you can actually speed up the sales cycle.
In the “Mailbag” segment, Bryan tackles an email we get often, “How do I handle being a new sales rep? Can you give me some advice on getting a quick start?”
Do You Understand Your Sales Funnel?
The proverbial sales funnel seems to be the ‘defacto’ way to measure results. No, it’s not always ‘revenue in’…it’s “what’s in your pipeline?” (Do you wake up in the of a nightmare hearing your sales leader shouting that question to you?)
Not sure how we got to this point, but this short video blows up a little of our preoccupation with “funnel” because it highlights an important part–not all people in your sales funnel are equal. Nor should they be treated that way.
Is Business Networking Still a “Must”?
Recently got a call from Josh Hinds, a blogger-business networking specialist. He asked me to comment on some questions he’s posing to industry experts about networking. It caused me to think a little about business networking — and how I used to feel something was wrong with me because I didn’t like it. And wasn’t good at it.
In his interview, I give you a few ideas you can try if networking is a ‘must-do’ for you in growing your business.
The Value of Podcasting For Lead Generation
I had a chance to speak at a Rainmakers chapter event last night. I was a stand-in for another speaker.
My topic was how to use podcasting to generate leads for your business.
As you know, our podcast, The Advanced Selling Podcast, is used by sales teams worldwide for training and tips on business development. And we’re getting more and more conversations that are leading to longer term engagements.
This is a 20-minute audio file of that speech. If you’re struggling–looking for new ways to begin conversations with your target audience, you’ll get some ideas from this talk.
Quest #1. Keep Your Current Customers!
As sales trainers, we are asked often how to generate new customers. Yet, when I talk to CEO’s /VP’s I hear all the time that “we don’t sell enough to our own clients.” Or “If we never got a new customer but expanded our business with our existing customer, we would be obscenely profitable.”
So what’s the problem? I think I know.
They aren’t happy with you.
That’s right, they may not be entirely happy with your service. So how would you know if they were? Do you test? Do you survey? If not, why not?
Dinner at Sullivan’s
I had dinner at one of my favorite restaurants the other night–Sullivan’s Steak House. It was less than special. Steak grisly. Potatoes boring. Desert lousy. An uncommon experience at Sullivan’s.
So what did the waiter do at the end? Sell us on why we needed to get on the email list.
Hmmmmm. Wouldn’t it have been better if they would have given me a chance to weigh in on my experience? AND THEN….ask me if they could have my email address. Never once at Sullivan’s have I been asked to rate the food, the experience or anything.
That night, the restaurant was 1/3 full. In this day, when customers are weighing their every dollar, doesn’t it make sense to do all you can to solidfy your current relationships?
And that starts not with “Can I sell you something else?” But, with, “How are we doing at providing you unbelievable service?” If it’s not unbelievable, then it can be replaced.
So all the time you’re out selling new prospects, goes up in smoke because you’re losing clients out the back end.
How Social Media Affects Sales People
The game is selling. But the rules have changed. Cold Calling is out. Social media is IN. Convincing and persuading is out. Community and attraction are in.
As your company sits in board rooms and talks sales strategy, then think about Social Media as one leg of execution.
Definition: ‘Social media’ (SM). SM is the interaction that people have online that creates conversations in which your company and/or products are centerpieces.
You, as a sales professional or sales manager, had best get hip to what’s happening online to your company/products/customers. And how to use this knowledge to grow your business. There are several vehicles in SM. Here they are, in no order.
Podcasts. You should have a podcast for your business (every business should have a podcast–and I challenge someone to convince me otherwise) if you have expertise about something. Your podcast will provide valuable information that your customers/prospects can use to see you as a resource for bigger problems. Talk to customers about problems you’ve solved for them. Record them and you have a podcast. Giving a speech at an industry event? Good, record it and now you have a podcast. Have a technical guru in the back room? Turn on the mic, interview him and now you have yet another podcast.
Don’t tell me you have nothing to talk about.
Plug: Check out The Advanced Selling Podcast, which is produced weekly. It’s 15-minutes long and takes us about 20 minutes to create/episode. We have about 12,000 listeners per month and it costs us about $100/month to produce and host. Where else can I speak to 12,000 people for $100?
Another Resource: Go to Podcast Tools to check out Paul Colligan’s podcast on podcasting. He does 5 minutes/week. Short but to the point.
Another Point: The iPhone will sell over 10,000,000 units in the next year. Go to your Apple store, or go to apple.com and watch the instructional video. Guess what a big part of the feature set is? Podcasting delivered directly to the phone!
Your selling strategy should be to educate your prospects to the pains/issues they have that they don’t know they have. Every selling process or procedure should do this. What better way to do this than through podcasting or internet audio where your sales strategy is to help them see their problems–and help them see YOU as a solution to them?
Blogs. While there are 40,000,000 blogs, most companies don’t see them for what they could be. If you have a website and not a blog, then you’re missing a great way to lead people to your website. But make your blog a rigorous conversation about the industry. DON’T make it about you and only you.
Ask questions. Pose opinions and ask for feedback. Create controversy by being honest. Blogs should be written by people–not by some faceless company PR person.
You can also use blogs to create Case Studies on ways you’ve solved problems for your customers. Have a new product? Take a pic of it and post about it. But be honest about it’s strengths and weaknesses. Don’t tell one side of the story. If you do, it’ll sound like it came from your marketing department–more blah-blah-blah.
Video Blogs. This includes the addition of Video to your blog site. If your value can be told easier through pictures/video, then this is a great application. Here is one that came from the Executive Learning Network. I have no idea who they are, but it looks like they have a new video blog site. I spent 15 minutes watching it. Not the meatiest content in the world, but well produced. Your ideas should be flowing by now.
RSS. This is a tough one. You’ve heard about it, but you may not undrestand it fully. Here is a link to Capture The Conversation, a blog written about new media. This post tells you what RSS is and how important it is for companies investing in the web.
Every sales person should know about RSS because it might just be the future of client communications. Period.
Conclusion
The idea is that your customers/prospects aren’t at chamber meetings anymore. They are online in their own conversations with people. If you’re a sales manager or top level sales person, then here are some questions you should address:
==’How can you meet your prospects where they are?’
==’How can you create some of those customer conversations by what you know–and educate them?’
==’How can you share your insights so your market comes begging for more–which consequently puts you in control of the sales process?
If you think your goal is to merely make cold calls and get referrals, then you are thinking in the old world. Good luck with new thinking.
Lead Generation Seminars–What Works-What Doesn't?
Seminars are outstanding ways to generate “conversations” with prospects—and ultimately leads. But if done poorly, they can ruin your brand. If you’re a sales professional and you are asked to do a seminar, then take these into consideration.
FACT: Every company has expertise that lends itself to sharing at a seminar (telephone, webinar or face to face). I’ll post later on some ways to organize your material, but for now, we’ll talk about DO’s and DONT’s.
What To Do
Here are some tips on what to do when presenting a seminar designed to generate leads (or conversations):1. Find Out Customer Objectives
This can be in the form of a PDF you send out on an autorespond when they sign up. Or you can pass out a brief questionnaire when people sit down. Remember, in our sales approach, we sell to the pain–to teh problem. How will you know how to convert your knowledge if you don’t know the pain of the group.This also gives you a chance to talk about what you WON’T cover in a seminar upfront so people don’t leave disappointed. I always say, “John, that’s a great point. Because of limited time, I won’t be able to address that fully here. If you’ll mark on your business card, I’ll make sure we talk later.”
2. Tell Stories
People don’t want to see PowerPoints. They want to hear stories–stories of real people solving real problems. If you don’t have 5-10 good, short stories, then you’re probably boring your audience.If you are not a story teller by nature, then do 3-5 short Case Studies. Remember, a case study should follow the following format: a) What was the problem you’re client was having? b) What impact was that having on their business? c) What solution did you bring to them? and d) What is life like now for the client. That’s the ONLY format to use.
3. Never Answer The First Question
This goes for salespeople on a call as well. The question the prospect asks you is never the real question. It is a “poser” for a deeper question. Consequently, you should find out what’s the question behind the question.Barb (attendee): “Bill, how do you handle it when a prsopect tells you they don’t have the money to buy?”
Bill (me): “Good question–did everyone hear that? (then repeat the question). Before I answer that, give me a little more data — what exactly did you say that caused that reaction?” You see, if I answer the question as posed, I may miss something that she said to cause the prospect to respond in that manner.
Once I know that, then I can answer the question. EVERY QUESTION HAS A DEEPER QUESTION BEHIND IT. You do the prospect a severe disservice if you merely answer the question asked.
OK-Now What NOT To Do
1. Stop Reading Your Freakin’ PowerPoints
Every good presentation book says this yet no one apparently is reading those books. If you’re in professional sales and you have to rely on a PowerPoint on a projector, then you’re making too much money.2. Never Let People Out Without A Commitment
I am not looking to close someone from the front of the room. But you must never, ever let someone leave, after you’ve worked with them for the length of the seminar, without a clear future on what to do next. It frustrates your participant too. If you’ve done a good job upfront, finding out what they’re pain is, then why shouldn’t you close for a future action?3. Don’t Spend More Than One Minute on How Great You (or Your Company) Is
I was at a seminar earlier this year. The introducer spent 10 minutes on the qualifications of the main speaker. Come on….one minute is enough. It was laughable. I know you’re proud of your accomplishments, but did you know ‘they don’t care about you?’ They only care about you to the extent that you can help them to a better future.If you don’t do lead generation seminars, then find a reason to start doing them. But if you do them, follow the very-simple tips above for a magical outcome.
