Do I need a System of Selling?

I had a client ask me this week: Do I need a system of selling? My answer was: No, you do not unless you want to be successful and do more business.

Let’s continue with a rather obvious observation:

Just because you’re in selling doesn’t make you a sales professional.

I’ve been in the sales arena for 40+ years and quite honestly there isn’t a week that goes by that I don’t learn a new or different way of looking at sales. To put it bluntly, you’re always going to be a work in progress. Learning is a life long process that makes our profession interesting, fun and rewarding.

Starting with this week’s sales tip and over the next month we’re beginning to develop a system of selling. When doing so it’s important to realize that there’s a hundred systems out there, all good and very much alike in a lot of respects.

My selling system, which is considered by to many to be non-traditional, will give you the following:

·         A sales track to run on

·         An insight into a game plan that will help you to identify where you’re at in the selling process

·         The ability to debrief each interview in order to identify what you did well as well as areas that need improvement

·         A way of developing a flexible process that puts logical steps in the process.

·         An interface with the prospect to quickly determine if you’re going to be able to move forward or if it’s in everyone’s best interest to disconnect

·         Directions that afford you and the prospect the opportunity to have a meaningful dialogue to determine if you have a potential fit

 Check back next week for more on sales systems

Do You Have An Effective Selling System?

Welcome to our first Wednesday blog update! This week’s topic will deal with why it’s important to have a system or concept for selling. Having a system affords you the ability to understand where you’re at in the sales process.

A few days ago a client asked me “why is it so hard for my salespeople to close?” I told him that the reality is that closing a sale is actually the easiest part of the process. I informed him that where his people are most likely failing was during the discovery process. The discovery process refers to the portion of the selling system where it’s crucial to effectively interview and ask the right questions of the prospective client. The discovery process allows us to understand the pain or challenges that the business is facing. It’s difficult to solve a problem if what you’re representing will not fix the issue.

After interviewing a prospect the salesperson should have discovered the challenges within the prospect’s business that they can readily solve. A sale occurs because a prospect realizes that the value of what you’re product or service represents is greater than the cost. If a solvable issue does not exist, it’s okay to move on, but do so in a way that leaves the door open for future business to take place, should a solvable issue arise. You don’t want to get into the chase, which occurs many times when the prospective client doesn’t want to tell the salesperson no.

Basically you should communicate to the client that what you’re selling is a win, win for all involved. By showing them an issue you can readily solve, you enhance the client’s business without letting it skip a beat. This will help to create loyalty with a client that will lead them to come to you first if they have an issue.

We all need a selling system that helps us identify a problem and work towards a solution. Communicating what you can do for them will make it so the prospective client will realize right away that you’re working towards a win, win solution.

Be sure to check out our weekly sales tips where I will be covering the system of selling in greater detail over the next month. You can sign up for that here.

Tracking Systems and Poor Attitude

Welcome back! After our week long hiatus I am glad to be back. During the past 3 weeks we have covered how to avoid failing at prospecting and why it’s important to keep the funnel full. Today we continue this trend by discussing tracking systems and why it’s key to keep an open mind when looking into new prospecting opportunities.

Insufficient tracking system

If you are tracking a perspective client, or an existing one, this information can be essential in establishing an updated historical review that the company or sales representative can draw from in creating communication initiatives for the present and future.  Tracking is also a key ingredient in getting a clear perspective of the activity and behavior of your sales people.  If a sales representative leaves your company, you still have a road map for an effective transition by having the necessary background information on your clients.  Act and Goldmine are the two most widely used software programs.  Through the use of this software, and through staying up to date with your client database, transitions between salespeople who enter or leave your workplace can have a semi-seamless transition.

Remember it is important to immediately contact prospects and clients to informing them of the transition because it is very possible that the salesperson may be going to work for the competition, that’s the reality of the sales profession.

Poor Prospecting Attitude

Webster defines attitude as a relatively stable and enduring predisposition to behave or react in a characteristic way.

I am constantly finding that sales people have a tendency to pre-judge prospecting opportunities.  I strongly believe that everyone brings something to the table; they may not fit the profile of someone you would directly do business with, but they very well may have a strong center of influence. They may have the ability to introduce you to people they know, that could be highly beneficial to your business if your product or service is a good fit.  So before we develop a predetermined attitude about an individual or situation, take the time to go through the discovery process and see what opportunities exist.

A lot of people, while doing sales training and working in the prospecting arena, raise the question of when is the proper time to ask for a referral.  To keep it simple you’ll find that referrals will come your way when you have a very satisfied client. This which could be at the time of completion of the job or sometime after they have had an opportunity to have a positive experience with your product or service.

NOTE: We will be switching to Wednesdays for the blog and sales tip of the week for the next few months.   

Keeping the Funnel Full and Prospecting Awareness

Hopefully everyone had a fantastic holiday weekend and enjoyed the beautiful weather! We’re back this week to continue our series on why salespeople fail at prospecting.  This week we will discuss the importance of keeping the funnel of prospects full and buzzing with activity and how the lack of prospecting awareness can have you looking in the wrong direction for business.  Just as a note I will be on a vacation next week and we will not have a sales tip or blog, don’t fret though, I will return and be back to normal the week of June 11.  Take care!

-Mike

Reasons why salespeople fail at prospecting

Failure to keep the funnel full

Many sales professionals will tell you that the biggest challenge they are faced with is creating and sustaining the right kind of activity and behavior to consistently keep their prospecting funnel full.  The only two elements that you can manage in your respective selling processes are the day-to-day activity and the behavior.  If you build the right strategic activity plan, the positive results will take care of themselves.  Always remember good behavior gets good results, bad behavior gets bad results.  One of the best ways to continuously generate business is to consistently keep the funnel full!           

     

                                                                                                          

 

Lack of prospecting awareness

Prospecting is the life-blood of professional selling.  Developing a prospecting awareness is all about keeping your antenna up, being focused, tuned in, and recognizing when a prospecting opportunity presents itself.  Asking the right questions will uncover the potential for additional business with existing clients.  Ask yourself, what does a good prospect look like? What are their characteristics or type of business? Keep these in mind throughout the entire prospecting scenario. Make sure as well with prospecting that you are talking to the decision makers and those in charge of making the big decisions.

• Preplanning
• Concept/Script
• 15 second value positioning statement
• Specific goals and objectives
• Tracking system
• Keep thinking outside the box
• Debrief your calls

Don’t be hesitant to tell people what you are looking for; they can’t help you until they understand your needs.  When prospecting one must remember to keep the hunter/farmer mentality; this means that when looking for new prospects one is “on the hunt” for new business, however one must also keep the farmer mentality by nurturing and caring for business relationships that have already been created.  Through this two step process you will be able to balance your new prospects while not neglecting your previous. 

Remember: We won’t have a blog or sales tip next week but on the week of June 11 we will give answers to insufficient tracking system and poor prospecting attitudes.

Failure at Prospecting Part 2 – Fear of Rejection and Procrastination

Welcome to part two of series on why sales people fail at prospecting.  Just to rehash, last week we discussed the importance of setting forth with a well-thought out and organized methodology and how to battle some of the aspects of call reluctance.  This week we will be covering the fear of rejection and procrastination as two more ways in which salespeople fail at prospecting.

Fear of Rejection

Within the sales profession there is a mindset that is required to know that your product or service that you represent may not be a good fit for all potential clients.  Often times, this realization results in a fear of rejection which can be crippling toward your business.  In order to combat this fear, a sales person must do their due diligence in researching potential prospects by building a portfolio of possible client candidates.  The lack of confidence, and therefore the fear of rejection, stems from not being prepared.  When you have created your game plan, and have a portfolio of potentials then is the time to pick up the phone and start calling.  You have to create your own opportunities by doing your homework and knowing what to say so that you don’t end up wasting either of your time.  Not every phone call, email, or business meeting will result in further business but I guarantee that if you do your due diligence and homework beforehand you will end up with a lot more business than if you decide to just “wing it.”  As I’ve discussed before, a no is not always a bad thing (see HERE), and that rejection is an emotional state of mind that really doesn’t exist.

Procrastination

            The dictionary simply refers to procrastination as a “delay” in doing something.  The explanation is simple; the reality is vivid for many sales professionals.  How often have you heard:

·         Been meaning to get to that….

·         It was right on top of my list of things to do….

·         Been meaning to get back with you on that….

·         Been putting out fires, I promise to get back with you next week…

All of these are excuses made by people procrastinating. Now I’m not saying that procrastination will never by eliminated, but it certainly can be minimized by prioritizing your ‘to do list.’  It’s amazing what a little strategic planning and some clear deadline can do to keep us on track.  You know what you should be doing so get out there and do it!  As Benjamin Franklin wisely said, “You may delay, but time will not.”

            Next week we will continue on our series of why people fail at prospecting by discussing the failure to keep the funnel full and how the lack of prospecting awareness are two more crucial obstacles to overcome in being a successful sales person.

Reasons Why Salespeople Fail At Prospecting: Part 1

Over the next four weeks the blog will be discussing why people fail at prospecting. Each blog will cover two aspects, totaling eight reasons for failure. Some of the reasons salespeople fail include: lack of a methodology for prospecting, call reluctance, fear of rejection, procrastination, failure to keep the pipeline full, lack of prospecting awareness, poor prospecting attitude, and an insufficient tracking system.

            This week we will cover the lack of a methodology for prospecting and call reluctance. Since we have already discussed call reluctance in some detail in previous blogs, we will provide links to this topic so you can delve deeper into the subject matter. Relating to lack of a methodology, we will discuss game plan formulation, value positioning statements and telephone effectiveness.

            One of the main reasons people fail at prospecting is because they don’t have a thorough and specific approach in which to effectively develop a game plan. The game plan should include identifying potential marketing niches, understanding market trends and how they affect your business, maintaining client retention, growth strategies and generating the right activity and behavior for your sales people; all while keeping a progressive attitude. After forming your game plan, you have initiated your journey to success by forming your methodology for prospecting. For more information regarding a game plan, check out our previous blog here.

            Once the game plan has been completed, your next business tactic should be to develop a value positioning statement. This statement should be a general statement about what your business does and answer the question, “what’s in it for them.” My value positioning statement is, “I am in the business of building and implementing sales and growth strategies for emerging businesses.” Within this statement I have pointed out what I do and who I do it for. This provides the client with information about my business as well as how I can bring value to their company. Your value positioning statement should be short and sweet but have a clear message of your significance to their operations. Remember your value positioning statement should and will change as time progresses so that it accurately describes what your company wishes to accomplish.

            Once you have your game plan and value positioning statement, now you are ready to contact potential clients. This step requires some forethought in creating what many people often times forget, a good telephone script. This is one of the most important tactics in your arsenal, in that it gives you a clear direction in which to steer the conversation while allowing the client to speak on their own behalf while creating a dialogue, in order to see if your services are a potential fit. In your call script you should ask open-ended questions and inform the caller that it is okay to say no if our services are not a match. These same processes of creating dialogue can be applied to digital conversations as well. We have previously written blogs regarding being okay with a no and the process of exploring new leads. You can read more on the subject here.

            The next issue of why people fail at prospecting deals with call reluctance. We have covered this topic in a four part series and to read about the psychological aspects as well as a case study of one of my past clients you can click on these links to read more. (1) (2) (3)

            To sum up today’s post we have discussed how and why creating a game plan, formulating a value positioning statement, and having a telephone script can provide you with a strategy for your prospecting methodology. As we’ve previously covered, call reluctance is an issue that continues to emerge when discussing complications with sales people and can be overcome through creative thought, dedication and a continuing positive attitude. Next week we will continue this series by discussing fear of rejection and procrastination.

Embracing Change- A Case Study on Business Growth

In continuing from last week’s blog on personal change and the progress it can bring to your business, this week we will be giving you a case study about one of my clients who was resistant to changing the way her business was run.  Let me first reemphasize that people like the results of what change brings but still continue to be resistant to the act of changing.  Our case study will focus on one of my past clients, Rebecca, and her small family owned upholstery business. Like many small business owners, she was progressive in many ways, but was prone to relying on past business strategies and was resistant to new technologies and changes in the industry. Through the ages, the business had spurts of growth but in the modern marketplace had fallen behind in market share due to the company’s resistance to adjust to the times. Their company resisted until change was inevitable, thus putting them behind the curve in the modern business world.

She finally got concerned with the company’s lack of change when many of her long term customers started doing business with her competitors.  This was the wake up call that spurred her realization to know that her business behavior needed to be modified.   She came to me knowing she needed to change her business strategies but not knowing which directions to take.  She shared with me that their business was not the first to embrace change, until the majority of her competitors had done so.   Their mantra had been, “It’s always worked in the past why do we need to change now?”    In the past this may have been reasonable thinking, but in today’s market the spoils go to the risk takers and those setting the pace in new endeavors.  This was an entirely new way of thinking for her company.

When I came into the equation, one of the first things that we did was look for internal problems as well as unidentified issues and addressed the concerns that surfaced.   Once we were able to spot the problems (the company’s resistance to change) we were then able to set goals and objectives to facilitate the company to begin their transformation.  Many believe that this is an industry that rarely progresses but when we broke it down and discussed the changes that were evident in the marketplace we were able to plan the direction in which the company needed to head.  This included buying new equipment, updating inventory lists, making connections with new vendors and suppliers and making the transfer into digital invoices and receipt records.  This seemed overwhelming at first but through hard work, positive reinforcement and the realization that bringing these changes was not as hard as it initially seemed we were able to slowly advance in bringing the needed amendments.  The results were noticed nearly instantaneously as efficiency was increased; they were able to offer more competitive pricing and through the use of small marketing tactics were able to regain lost customers.  Many clients and customers were impressed with the rapidity in which these changes were able to occur and word quickly spread that Rebecca’s company was back to being one of the leaders in the industry. 

Rebecca and her company were one of the most resistant to alter their ways, but when they were able to finally embrace change and set obtainable goals and objectives ended up being a fantastic success story.  As John F. Kennedy famously quoted, “Change is the law of life. And those who look only to the past or present are certain to miss the future.”