Posted November 3rd, 2008 by admin
You can’t open a newspaper or turn on the television these days without hearing about the economy, the market, bankruptcy and recession. It’s a scary, depressing time filled with doom and gloom. What’s happening with the economy? What will happen with your sales? With your business? With your job? Will you survive?
Let’s face facts: We are in difficult economic times and things will probably get worse before they get better. At this juncture, business owners and sales professionals have only two courses of action available to them:
Option 1. Tighten your belts, cut costs, increase discounts and accept lower sales revenues and a shorter, smaller bottom line. Hunker down and hope that you will survive till good times come around again.
Option 2. Sharpen, refine and increase your prospecting and sales skills, and look for new opportunity.
Yes, look for new opportunity. While other business owners and sales professionals are busily tightening their belts, cutting costs, increasing discounts and accepting lower sales and lower sales revenue, opportunity is there for those who take action.
Most companies (including your competition) will be doing less and doing with less: They’ll be cutting out marketing, they’ll stop prospecting, they will discount - and they’ll be scared to death to approach current customers for more business for fear of alienating and losing those customers altogether.
Because of the way most companies will react to the economic crisis, this is actually a good time to build your pipeline, win new business and expand your market. The key to flourishing during difficult times is not to simply work harder; it’s to work smarter.
Here are some actions that you can start today to insure that your sales maintain and grow:
1. Increase your sales skills.
Prospecting and selling are communication skills and like any communication skills they can be learned and improved upon. If you are not closing sales, it could be the economy; it could also be that your skills need sharpening. Great sales skills will enable you to take advantage of the opportunities that do exist. Great sales skills will enable you to close sales even during difficult times. Conversely, not having the skills will allow potential sales to slip through your fingers. If business is really slow, use some of that extra time for education.
2. Increase the number of qualified prospects you reach directly.
In difficult economic times many companies, business owners and entrepreneurs cut costs by cutting out marketing and prospecting efforts. This is a huge mistake. While this is probably not the time to be spending large sums of money on brand new initiatives, it is imperative to continue low cost marketing and prospecting activities. Without prospecting, sales do not grow.
One of the best, and least expensive sales/marketing activities you can initiate is to use the telephone. Call potential new customers to introduce yourself. Call existing customers to potentially sell more products/services, sell additional products/services and/or gather referrals. Calls to existing customers are also imperative because you especially want to increase customer loyalty. See #3 next.
3. Make inroads on your competition’s customers.
When times are tough customer loyalty is shaky. This could be the perfect time to increase your market share by targeting your competition’s customers. Perhaps there is another product/service that you offer that your competition does not. Perhaps your offering is less expensive and/or adds value in a way that your competition does not. This is a great time to introduce yourself and your company/products/services to your competition’s customers.
4. Find new applications and/or new markets for the products and services you represent.
Can your products/services be used in nontraditional ways? Are there other markets that are potentially in need of your products/services? This is the time to explore these new applications and markets. If you find that your traditional market is drying up… Look elsewhere.
5. Find new ways to help existing customers and potential customers.
The easiest sales to close are sales to existing customers. They already have a relationship with you. They know you and they trust you. Go back to your existing customers with new applications, add-on’s and improvements for your existing products/services. Find new ways to help. Your customers will respond.
The five tips above all have one thing in common: They require action. You cannot allow fear and anxiety about the economy to paralyze you. Instead, focus on what you can accomplish and take steps to do so. Today, more than ever, it is imperative to reach out to new prospects and to existing customers. Don’t be one of the many who are waiting with their fingers crossed for the economy to improve. Instead, keep taking proactive steps to build your sales pipeline and generate sales revenue. This is what will help you weather this economic crisis and come out of it successful and well positioned for even more growth in the future.
By Wendy Weiss
Posted November 3rd, 2008 by admin
Steve Martin, of the Heavy Hitter Sales Blog, has composed a post on the Seven Deadily Sins of Sales. Are you failing to acting like a short-term thinkers and a long-term planners? Are you not Many salespeople taking the time to understand how customers fit within their own organization?
Read Steve’s thoughts of the Seven Deadily Sales Sins here, or just read below.
In the late sixth century, Pope Gregory described the seven deadly sins from the least serious to the most, as superbia, invidia, ira, avaritia, tristia, gula, and luxuria. Translated from Latin, they are pride, envy, anger, avarice, sadness, gluttony, and lust. What do you think are the seven deadly sins of salespeople? Here’s my list, in order of least to most severe.
Chattering. Salespeople talk too much on sales calls for a variety of reasons. Some are nervous chatterers who just can’t keep their mouths shut. Others think they know more than the customer so they lecture the customer to death. Many salespeople feel compelled to recite their canned pitch regardless of the customer’s actual interest. You have conducted a perfect sales call when the customer has been persuaded to buy even though you listened far more than you spoke.
Gourmandizing. Millionaire railroad tycoon Diamond Jim Brady was a legendary gourmand who lived at the turn of the twentieth century. For breakfast he ate eggs, pancakes, pork chops, cornbread, fried potatoes, hominy, muffins, and beefsteak and drank a gallon of orange juice. Lunch consisted of two lobsters, deviled crabs, clams, oysters, beef, and several pies. A platter of seafood and carafes of lemon soda constituted his 4:30 snack. The evening meal began with three dozen oysters, six crabs, and turtle soup. The main course was two whole ducks, six or seven lobsters, a sirloin steak, and servings of vegetables. Dessert included a platter of pastries and often a two-pound box of candy. Does your sales organization include a “Diamond Jim Brady” who devours company resources to the point of gluttony?
Inactivity. Salespeople must be short-term thinkers and long-term planners. An inactive salesperson neglects the future and does not spend time on activities that build his future pipeline. Inactivity is not to be confused with laziness. Many hardworking salespeople are completely focused on the here and now. Unfortunately, they forget about next quarter and next year. Other salespeople place all their eggs in one basket, never really thinking about what will happen if their big deal collapses. They have been lulled into a state of inactivity and could be jolted into reality at any moment.
Obliviousness. Many salespeople don’t take the time to understand how customers fit within their own organization. I am continually amazed at the lackadaisical attitude many salespeople have about understanding the organizational structure of the companies they call on. When they are asked what a person’s title is, they will answer, “manager,” or something equally nebulous, when they should answer, “manager of application security who reports to the director of application development, who, in turn, reports to the CIO.”
Shallowness. Salespeople who don’t know their product well enough to build customer credibility cannot be expected to drive account strategy. How can you determine your next course of action if you don’t understand the customer’s technical objections and how best to emphasize the product’s strengths? Worse, in this situation you are completely at the mercy of someone else because another member of your company has to explain how your product works.
Presumptuousness. Assuming information you really don’t know is one of the worst sins for a salesperson. Salespeople who are not certain but make their best guess about who the ultimate and final decision maker is within an account are more than halfway to losing the deal.
Ignorance. Ignorance is the deadliest sin. If you do not have a spy within an account who is telling you what is happening in closed-door meetings, defending you when you are not around, and disseminating propaganda on your behalf, you will most certainly lose.
Your success is your responsibility. The road to the top is paved with hard work, diligence, and self-discipline. The salesperson who avoids committing these seven deadly sins is well on his or her way to becoming a Heavy Hitter, a truly great salesperson.
Via Ryan Shooltz - Omega Consulting
Originally by EyesOnSales from Site Updates from EyesOnSales on October 28, 2008, 8:09am
Filed under:Uncategorized
Posted October 14th, 2008 by admin
Let’s face it. Things are bad out there. Businesses aren’t buying. They’re either scared or can’t get credit.
When times are good, anybody can sell. It’s at times like this that you find out if you’re really a sales professional… or just an order taker.
Here’s the good news. Chances are your competitor — the sales guy down the street — is obsessing about the economy when he should be out selling.
So that means that you’ve just been handed an incredible opportunity to capture what business is still out there.
Here’s EXACTLY how to turn the financial crisis into a sales opportunity:
STEP #1: Calm Yourself First. Above all, keep your own negative emotions in check. You may be worried about the economy, your job, and everything else, but you can’t let those worries rule your thoughts and actions. Rather than focusing on the “big picture” of a collapsing economy (if that indeed is what’s happening), think about your current situation as if you’re starting a new sales job that presents some interesting challenges to overcome. Remember: even during the worst of times, some people (especially sales pros) end up winning. Let’s make sure it’s you.
STEP #2: Assess Your Firm’s Viability. Take a good, hard, realistic look at your firm. How vulnerable is it? Is it about to go under? Is it at risk? How much risk? Stand back and look at your firm as if you were a customer. Would you want to do business with it? If the answer is no, then your first order of business is to find a job in a company that’s not going to go under. However, if your firm is basically sound and not at much risk of failure, there’s no reason for you not to go out there and sell like there’s no tomorrow.
STEP #3: Craft a Corporate Message. The customer is going to be worried about lots of things. You don’t want the viability of your firm to be one of them. Figure out how you’re going to communicate the stability of your firm in a way that the customer will understand and believe you. Your personal guarantee won’t be enough. You should show the customer enough detail of your corporate financials so that they know, beyond all doubt, that your firm isn’t going to be a victim and that buying from you is a safe bet.
STEP #4: Tune Your Solution Message. Here’s some good news. Your customer is afraid, so you don’t have to create an impetus to buy. All you need do is position your solution so that buying it lessens the customer’s fear. This is not the time for messages of high risk that emphasize inspiration, empowerment and innovation. It’s the time for messages of low risk like protection, security and stability. Show how your product will protect your customer contact’s job and you’re 90 percent on the way to a done deal.
STEP #5: Research Your Pricing Options. If there was ever a time to figure out different ways to finance a deal, this is it. Work with your CFO or other financial gurus on alternative financing plans, delayed payments, subscription fees, discounts, whatever… Because the customer might be having cash-flow problems, you want to be able to walk into EVERY sales situation with a bag of tricks that will allow them to make the smart decision and buy from you.
STEP #6: Re-prioritize Your Opportunities. The financial crisis is changing the business landscape very quickly. As a result, a company that three weeks ago looked like a hot prospect might be a dead loser today. Therefore, you must run though your entire list of leads and opportunities and, based upon what you know and can learn with some research, prioritize your opportunities, based upon likelihood to buy and ability to pay quickly. Put your long-term “strategic” opportunities on hold.
STEP #7: Re-qualify Your Customers. Each time you get in contact with a customer or prospect, use your questioning skills to determine whether or not they’re going to be a victim of the meltdown before they pay you. Once you’re relatively certain they’re a reasonable risk, use the flexibility of your financial options to determine the payment plan or method that will both make it easy for them to say “YES!” and maximize the likelihood that your firm will get paid.
STEP #8: Work the Numbers. Set up an ambitious schedule of working through the steps of your sales process. And then follow it. One of the best things about a sales process is that it forces you to focus on the mechanics of selling rather than your emotions about the crisis. The regularity of making your 20 cold calls, or 10 referral calls, every day, like clockwork, is a great way to get a sense of accomplishment, even if your hit rate is (understandably) lower than usual.
STEP #9: Decide to Enjoy Yourself. Everyone knows you should party when you pull off the big wins. But when things are difficult, you need to give yourself credit and lots of it, simply for plugging away. Your challenge is to keep enjoying yourself and your job, even though times are tough. Decide to feel good and then do it. If you’ve got the emotional moxie to stay calm when everyone else is talking Chicken Little at the water cooler, this could be one of most successful sales seasons of your entire career.
STEP #10: Become a Leader. It’s going to be a bit harder to make the deals than it was a few months ago. So what? If you’re doing everything in the above steps, you’ll be outselling the competition, because your competitors will be busy fussing about the economy and wringing their hands. There’s a saying that true leadership consists of being able to remain calm during a disaster. This is that disaster; and this is the time for YOU to remain calm and make the best of the situation.
By Geoffrey James
Posted October 7th, 2008 by admin
Needless to say, if customers are going to respect you, you’d better be able to add value to their business. Mutual respect, however, goes beyond the proverbial bottom line. If you want customers to respect you, you’ve got to show them respect. This means having more than just exhibiting common courtesy and a friendly attitude. It means treating the prospect or customer as if they were one of the most important individuals in your world. Here are some pointers for developing this level of respect:
Realize that the opening minute of any new interaction creates an impression that is difficult to change. Become a master of the first impression by focusing in on it.
Remember whom the customer is most interested in. If you find yourself talking too much about your weekend, your golf game, your family or your job, then you’re probably not listening enough.
When meeting someone for the first time, get their name right. Be fanatical about pronunciation with unusual names. Prospects will appreciate it and it will communicate that you care.
Record interesting information about your customers, like the names of family members and birthdays. Show your customers that you remembered what they told you about themselves.
Try to speak positively about others. Whatever the temptation, avoid criticizing anyone, even a competitor, in front of your customers. Criticizing others makes you look underhanded.
Develop a warm and friendly greeting. If you’re in sales, your smile, handshake and eye contact should be top quality. Rehearse these with a colleague who’ll give honest feedback.
Remember that rapport is a result of likability, competence and preparedness. Pay attention to all three factors and make sure that your approach is balanced between them.
Likable people are typically genuinely interested in others, enthusiastic, and eager to help. A positive, upbeat attitude, along with honest curiosity, plays a big role in creating mutual respect.
The above is based on a conversation with Michael St. Lawrence, president of Outsell Consulting and author of the best-selling book “If You’re Not Out Selling, You’re Being Outsold.”
By Geoffrey James
Posted October 7th, 2008 by admin
It seems that every day we are inundated with messages. The messages vary from the world landscape, the world economy in general, the financial and credit crisis in America to the political arena. As I read the newspaper and watch the “talking heads” spew information about what everyone else should be doing, I have been thinking of how much better we could understand the potential solutions, if we all understood the root cause of the problems facing us.
Isn’t that what sales is all about? Sales is about reaching agreements. Some of those agreements are small – such as agreeing to a meeting, while others are quite large, for example signing a contract. But the foundation of the sales profession is gaining agreement on a series of decisions between a buyer and a seller.
Regardless of what you are selling, it will be difficult to sell any solution if that solution does not fit the context of your prospect’s situation. In other words, solutions only have merit with a prospect if there is first agreement on either the problems which need to be solved or the root cause of an overarching issue.
I remember one of the first sales stories I heard many, many years ago. It was about Joe – the elevator salesman. Joe’s territory happened to be in the northeast and he was struggling to make his quota selling elevators. He had a robust, fat pipeline, and lots of activity, yet nothing seemed to be closing. Joe asked for his manager’s assistance. They reviewed his presentation, objection handling skills, and product knowledge. All seemed to be in order. So the manager then offered to accompany Joe on a day of sales calls.
Joe arranged the day and off they went. After three sales calls, the manager turned to Joe and asked the question: “Do you see a pattern here?” Perplexed, Joe answered “No – what do you mean?” The reply from Joe’s manager, “Every building that we have had an appointment in so far has only one story! It’s no wonder that no one is buying.”
Joe’s failing to get agreement on the need to get from floor to floor without taking the stairs is important. The best solution in the world will not be relevant if there is not first agreement on the solutions.
As sales professionals, one of the first key skills we need to develop is the skill to uncover the prospect’s perspective on problems and the potential solutions. Often the problems that our prospects are facing are easily recognized. But sometimes we need to really dig into their world to understand their perspective before we share with them our view.
In order to gain agreement with prospects – our job is to figure out what they know and think. Once that is understood, we can determine if that prospect’s view of the situation needs to be expanded or changed. Gaining agreement begins with this understanding.
So before you make your next sales call this week, ask your self – what do I want the prospect to agree with me on? Do I want agreement for another meeting, or with another executive in that organization? Do I want agreement that my solution is the best alternative or that the investment required to do business with me is justified? Where ever you are in your sales process – focus on small agreements first, as they will lead to big agreements!
By Value Selling Associates
Posted September 29th, 2008 by admin
I was working with a client yesterday on knowing “what next?” with their prospects and clients. It’s a huge part of controlling the sales process.
What we discovered is that my client is clear about what they THINK is going to happen, but they haven’t shared it with their customer!
Via Ryan Shooltz - Omega Consulting
Originally by Brooke Green from Site Updates from EyesOnSales on September 26, 2008, 6:54am
Filed under:Uncategorized
Posted September 29th, 2008 by admin
The simple answer to why decision makers hate cold calls is cold calls are one of the biggest time wasters for them. Decision makers hate cold calls and have no interest in taking your call because all you do is waste their time. Period.
read more
Via Ryan Shooltz - Omega Consulting
Originally by Paul McCord from Site Updates from EyesOnSales on September 24, 2008, 6:44am
Filed under:Uncategorized
Posted September 29th, 2008 by admin
Jed (a hypothetical salesperson) keeps getting what sound like positive buying signals with his prospecting calls. Somehow, though, he’s not getting very far.
“People tell me to call back in two months, four months, six months, when they will be looking at this problem” he says, perplexed. “When I call back, I get people telling me how glad they are that I called … but my close ratio is low, and my sales cycles are way too long. What’s going on?”
In response, I would give Jed the following advice.
“Jed, when you cold call someone in an attempt to sell them something, you’re interrupting that person’s day. The dominant instinct is always going to be for that person to find any reason to get off the phone and get back to what they were doing before you interrupted them.
“Your goal has to be to maintain your poise and get past that first fifteen to thirty seconds of the initial call … which is always going to be a little bumpy.
“But — the reason you’re riding out those first fifteen to thirty seconds is not so you can try to turn the person into a short term prospect on the spot!
“Actually, you’re trying to discover if this person has experienced a Trigger Event. If there has been such an event you want to find out what it was and when it happened. The Trigger Event could have taken place quite a while ago, it could have happened only recently, or it could still be on the horizon.
“These Trigger Events typically fall into one of three categories:
1. Bad Experience: The buyer has a bad experience with a product/service, with people, or with a provider. For instance, there may have been a product/service change that creates dissatisfaction.
2. Change / Transition: The buyer has a change or transition in people, places, or priorities. For instance, there may have been a change in the buyer at an account.
3. Awareness: The buyer becomes aware of the need to change for legal, risk-avoidance, or economic reasons. For instance: The person may have a new understanding that buying from someone like you is less risky than continuing to buy the existing solution.
“During the first minute of your call, use the opportunity to understand which of the following three buying modes the buyer is in:
“Status Quo: The buyer is completely happy with what he or she currently has. There has not been a Trigger Event in the recent past, but there may be one on the horizon. You may think this person is a waste of time and may want to move on to the next person on your list. Actually, if this person has money, authority, and influence, this is a great long-term opportunity. A strategy for this type of call is to start the relationship building process. I would also suggest that you check back in on a monthly basis to see if a Trigger Event has recently happened.
“Searching For Alternatives: This person is unhappy with what he or she has, has spoken to several suppliers, and probably already has a favorite. A Trigger Event took place a while ago, and they’ve already taken action on it. You may think that this is a short-term opportunity … because the buyer is actively talking to a number of potential suppliers. This is in fact probably a medium term opportunity … because it is highly likely this buyer already has a first choice!
Selling to buyers under these conditions typically results in a lower close ratio and a longer sales cycle – exactly the problem that you are experiencing. A strategy for this type of call is to position yourself as the buyer’s number-two choice — so you get called first if the buyer’s current favorite falters. You should check back every other week to see where you stand.
“Window of Dissatisfaction: A Trigger Event has recently taken place and this buyer knows that what they are currently using is no longer sufficient, but has not done anything about it yet. Because they tell you to call back in two months, four months, or six months you make a note to do that and move on to the next person on your list. Wrong answer! This is actually a short term opportunity, because the buyer is not talking to your competition — yet.
When you call back a few months later, even if you call a few weeks early thinking it will give you and edge, it’s very likely they will already be talking to your competition. The strategy for this type of call is to identify the business opportunity and pursue it immediately — with as much happening on this initial call as possible and future contact taking place in the very near future. You must find a way to push a little bit and learn more about the Trigger Event, then try to set a near-term course of action.
“As it stands, Jed, you are focusing on those people who are already talking to your competition … and missing the biggest opportunities: those buyers in the Window of Dissatisfaction, who recently experienced a Trigger Event and have not started talking to your competition. That’s why your numbers are as bad as they are; that’s also why your sales cycles are so long.
“Jed, you need to do a better job of ‘staying on your feet’ for the first thirty seconds or so of the call — long enough to ask a couple of questions that will help you learn whether the person has:
• Not experienced a Trigger Event in a long time
• Experienced a Trigger Event a while ago and already doing something about it
• Recently experienced a Trigger Event and has done nothing about it –– yet
“Once you learn if, and when, a buyer has experienced a Trigger Event you can apply the appropriate strategy. When you do that, and focus FIRST on those people in the Window of Dissatisfaction, who recently experienced a Trigger Event and have done nothing about it yet, you will have a much higher close ratio … and you’ll have much shorter sales cycles!”
____________
The creator of Trigger Event Selling, Craig Elias has received coverage on NBC news, in The New York Times, The National Post, Sales and Marketing magazine and won a $1,000,000 prize in a billion dollar idea competition. For almost 20 years Craig used Trigger Event strategies to be a top sales performer at EVERY company he worked for. You can contact Craig by phone (+1.403.874.2998), Skype (Craig.Elias) or web.
Read more sales tips from Craig Elias …
- Sell More: How to Get Motivated Buyers To Call You First
* what did you think of the advice you just read — did anything stand out as particularly helpful or insightful? Anything you’d like to add or share that would be helpful to other sales professionals like yourself?
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Via Ryan Shooltz - Omega Consulting
Originally by Josh Hinds from Sales Training Tips and Advice
Filed under:Uncategorized
Posted September 29th, 2008 by admin
Do you have prospects that seem to give you the run- around? They expressed interest in your product or service when you first contacted them but now they don’t return your calls, reply to your emails or seem interested in making a buying decision.
Persistence is an essential trait that successful sales people possess. The ability to stick with a specific task, continue in the face of adversity, or use different strategies to achieve your goal is critical if you want a long-term career in sales and business.
However, there is a distinct difference between this and beating your head against a wall trying to convince a prospect to buy your product or service.
Recent conversations with some of my newsletter subscribers reminded me how often people get caught in the trap of thinking they can (or should) close every deal that comes their way. Simply put, there comes a time when you have to let go and give up.
However, if you’re not quite prepared to do that, here are five suggestions that may turn that cold potato into a hot one.
1. Consider creating an email list and adding those people into a monthly email campaign. Some of them will have their situation change and still others are simply very busy with something that is more urgent. Without monthly email follow-up, you can lose the people that were temporarily distracted as well as those whose situation changed.
2. If you have another contact in the company ask them for input or to find out why the decision has been stalled. This is particularly effective if you have developed a good relationship with that person especially if they can act as your champion or cheerleader.
3. Develop a ‘keep-in-touch’ campaign to keep your name in their mind. They may not be ready to buy now, but their situation could change in the future and you want them to remember you. You can stay in touch via postcards, letters, articles, newsletters, etc.
4. Befriend the decision-maker’s executive assistant and tap into that individual’s insight and knowledge. In some cases, the E.A. can help you find a different way to approach the executive. In other situations, they might be able to give you a reason why the sale did not happen or even what you could do differently in the future.
5. Ask yourself ‘How important is this sale?’ If your answer is ‘very important’ determine what other actions or approaches you are willing to take to make the sale happen. If this was the most important sale of your career would you give up or would you find a creative way to pursue it?
When a hot prospect turns cold and you have done everything possible to move the sale forward but they aren’t responding it’s time to drop that cold potato and focus your attention on other opportunities. It is essential to recognize that you only have a limited number of hours in a given day, week or month. That means you need to invest this time wisely because once it is used up you can’t get it back. Spinning your wheels trying to convince an unmotivated prospect to make a decision may not be the best way to use your time.
Many people fail to realize just how valuable their time is. If you spend an inordinate amount of time trying to close a sale that has a low probability of success, then you are not generating a high payoff on your time. That means you need to engage in activities that will have the highest payoff. A simple rule of thumb to follow is asking, “What is the best use of my time, right now?” You should also consider the potential value of each sales opportunity.
Chasing a high-value sale is a better use of your time than following up on a sale that is of low value (revenue and/or profit). A good friend of mine used to go after every sale that came his way. However, after several years of chasing leads that led to few sales, he now targets his efforts on the high- value opportunities. This has substantially increased his revenues in a very short time.
While it is mentally difficult to drop a potential sale, this strategy will free up your time to focus on higher quality leads which will lead to higher sales.
When you have done everything in your power to capture that sale but it has completely stalled or hit a dead end, then you need to make an all-important decision. Is it worth your time and effort to continue following that lead? Only you can make that choice.
(c) 2008 Kelley Robertson, All rights reserved.
___________
Kelley Robertson is a professional speaker and trainer on sales, negotiating, customer service, and employee motivation. Receive a FREE copy of “100 Ways to Increase Your Sales” by subscribing to his free newsletter available at his website. Visit KelleyRobertson.com. He is also the author of “The Secrets of Power Selling” and “Stop, Ask & Listen-Proven Sales Techniques to Turn Browsers into Buyers.” For information on his programs contact him at 905-633-7750 or Kelley@RobertsonTrainingGroup.com.
- Any ideas you’d like to share that would be helpful to your fellow sales professionals?
*brought to you by SalesTrainingAdvice.com
Via Ryan Shooltz - Omega Consulting
Originally by Josh Hinds from Sales Training Tips and Advice
Filed under:Uncategorized
Posted September 29th, 2008 by admin
Driving a flashier car or having the nicest custom-tailored suit is not going to help you beat your sales quota this month. The best way to increase sales and build life-long relationships with your customers is to understand the factors that affect their world, and gain insight into what they think about you.
The following information provides a window into your customer’s brain, and will help you understand what makes them tick and how you can turn that knowledge into sales.
What are the factors impacting your customers right now?
Walking into a sales call without understanding the concerns of your customer is like jumping out of a plane without a parachute… it is not going to end well.
But going into that call with a good understanding of your target’s industry, and the challenges they face can provide an opportunity. Specifically, you can put yourself in context of those challenges. Show the customer how you meet a specific concern that is impacting their business.
Among common concerns of today’s businesses are:
* Economic uncertainty
* Customer issues
* Supply problems
* Human resources
* Globalization pressures
* Manufacturing issues
* General life stress
Before you walk into a sales call, take the time to think about these factors. Find a way to position yourself in such a way that you are actually helping solve these problems. The customer will appreciate the depth of your knowledge, and look to you as more of a trustworthy figure.
Important statistics about your customer and the sales process…
Now that you have a much better idea about the concerns of your customers, and the things that keep them up at night, let’s take a quick look at how they view the sales process, and what keeps them from handing that check over at the end of your presentation.
* 83% of sales professionals fail to differentiate themselves from the competition
* 65% of sales professionals surveyed feel they are working harder, but closing fewer sales.
* 86% of sales professionals ask the wrong questions.
* 81% of lead opportunities are lost during the initial contact.
* The average length of a sales cycle has increased by 20%
* 65% percent of the time a sales person spends will not result in any new business
* 79% of Messages Left for Prospects go Unanswered
* The average closing ratio is 25%
What is interesting about these findings is that they run counter to how salespeople see their own performance. These are the same areas that most salespeople view as strengths! It is important to look at these numbers from this perspective — and make adjustments accordingly.
Becoming the trusted advisor …
In order to build a long-term relationship with a customer, a salesperson must climb up the ladder of trust and value to. There are three basic categories of how customers think about their potential business partners:
o Vendor – A vendor is little more than the person we buy stuff from, and if there were other options we would explore them. All this guy cares about is making a buck.
o Supplier – Supplies products and provide a mediocre level of value, but the price is hard to beat.
o Trusted advisor – The best of the best. Without this person our business would struggle.
In order to achieve a productive, mutually beneficial long-term relationship with our customer, we must strive towards achieving trusted advisor status! Many will not get there, but the dogged pursuit of this status will drive outstanding relationships.
Trusted advisor status is the pinnacle of sales success, it is the top of the mountain that few people reach. Not because it is unattainable, but because it takes effort and there is no instant gratification for your efforts.
Summary: In order to achieve long-term success in any market, we must:
* Understand the customer’s situation
* Realize that customers view us differently than we view ourselves.
* Work hard to become the trusted advisor!
Understand your customer even more by clicking here…
*brought to you by SalesTrainingAdvice.com.
Via Ryan Shooltz - Omega Consulting
Originally by Josh Hinds from Sales Training Tips and Advice
Filed under:Uncategorized
