It is the end of the month...

Salespeople tend to get desperate at the end of the month.  This is not a good plan.

So here is the problem.  I told them in my initial inquiry that I would be looking for a vehicle towards the end of September.  This is 2 months away, but I want to start the process now...and I didn't want to be pressured into making a decision in July.

SALES IS A LONG TERM THING, so when a prospect pushes back that you are laying too much pressure on, you should lay off.  If you respect your  prospects, you will get the business.

If someone wants to buy from you, they will...and it won't take 9 emails to get them to buy.

Someone is trying to sell my book for a nice profit...while I think it is still a bargain, you can purchase my book BRAND NEW on Amazon for 8.99 (Kindle or paperback)  Click Here for the book

August 18th, the book will be rebranded by my new publisher...He assures me that it will be more awesome than the original, and he is looking to build on it's popularity.  It will be available in the Amazon store as well as all other popular formats....even hardcover.  It will be larger than a pamphlet, Scott W. 

FINALLY, Click Here for an awesome contest.  Give me your best sales call gone awry.  Win a Starbucks card along with a copy of my book....I will even sign it....  WOW!

Have a great weekend!

Mike

CONTEST:  Send in your most embarrassing story from the field (Click Here for entry and rules)....The top three will be chosen by our panel of experts, and those three will receive a copy of my latest book "The 3 Wows" (Autographed), and an Starbucks gift card worth $20.  

Back when I was a rookie salesman, I wasn't a very polished or confident salesperson.  Who is when they first start?

I went in on one of my first presentations...and was a little nervous.  I had a computer and a projector, and was ready to show off our products to a new   prospect.  I get in to his conference room, and pull out my projector.  Since I didn't have a screen, I was going to project it on his wall.

Lights dim, projector on....but the wall had pictures on all walls....not that these were fine art, they were motivational posters cleverly framed in a $19 plastic frame (with real glass).  I ask the prospect if I could remove the picture from the wall, and he said "sure"

After removing the picture from the wall, we realized that the wall that I was projecting on had a patterned wallpaper, and wasn't a good choice.  So like most people, I put the picture back up...being careful to put the wire chord back on the hook.

As I am putting the picture back up, I watched as the anchor slowly pulls away from the wall....I can still picture it in slow motion....

CRASH!

Picture on the ground, glass everywhere....

"I am SO sorry.  I will totally pay for that", I said.

"You're damn right, you are", said my prospect.

And then I had to do the demonstration.  

I did not sell that day....but now I have this great story.

Lessons Learned:

1. Always bring a screen
   
2. Always have the prospect remove things from the wall if necessary.

This is a mistake I see often. It is one thing to make fun of your competitor when you are speaking with people within your company. We always “dis” our competitor when we are puffing our chests at our company functions. It’s harmless, and it makes us feel good.

In front of a prospect or a client, it is looked at differently.

Your prospect / client may very well see things from another perspective, and badmouthing someone doesn’t make you look stronger, it makes you look scared.

I have been told many times that my competitors badmouth us all over town.  Every time I hear it, a conversation ensues about how this competitor must be feeling pressure to sell against me.  Leaders don’t badmouth.

What you can do to avoid messing up: 

1.     When comparing your product / service to another, state the differences between the two and explain why yours is better…not why theirs is worse.

2.     Remember that sometimes your prospect is already doing business with the other guy. If you tell him that the other guy is terrible, you are insulting his previous buying decision. Your prospect will subconsciously use that against you when he is making a decision.

3.     You should know the details of your competition. Ask your clients why they switched from your competitor to you. You will get your ammo there. If your competitor has poor customer service, then you can explain that your customer service department has gotten rave reviews. Explain that some of your clients have recently switched to your company and have found the customer service department to be one of the best reasons to switch.

4.     If a client / prospect tells you that your competition is badmouthing you just say that you are above this, and you are sure that their company is a very fine one but that your clients have chosen you because of your reliability, dependability, excellent customer service, etc.

5.     Talk to former clients who went to the “Dark Side.” Ask them why they switched. Don’t be condescending or critical of their decision. Don’t be defensive. Listen to the other person talk. Pose the question as an opportunity for you to better service your other accounts. 6 months later when you are trying to win that business back, you can use your rebuttal.

6.     Ask the prospect about the competitor. “If there is one thing that my competitor could have done better during your last interaction, what would it have been?” Listen for the answer and later on in the process, differentiate yourself with this. 

I was just with a client this morning who told me that it is hard to be a salesman making cold calls.

It is hard, being told no all the time.  It is hard being rejected.  Nobody likes being told that their prospect is not interested.  Steve A., one of my bosses always says "they all buy, eventually", which is partly true.

So this is your pep talk.  This is my imitation of Matt Foley (Pictured Left).  This is the thing that will get you going as a salesperson.  This should get you through the day….because if you aren't calling, you aren't selling.

When someone says no:  When someone says no to you over the phone, it doesn't actually mean that they will not buy.  It means that you haven't shown them anything to move forward in the process.  I call people all the time, and I get told no.  Sometimes, you need a different tact.

One of the things that I have done is to send them an e-mail shortly after the phone call.  I make it short and sweet.  I thank them for taking the time to discuss, and I bullet point 3 things that similar company's have found value in what I sell.  

And then I call someone else.  Next.

Make a goal for the day:  I find a lot of salespeople take a morning to cold call, but fail to make a goal for themselves.  Is 10 substantial meetings in the next 2 weeks your desired accomplishment?  Then make that your goal for your cold call time.  Make these goals obtainable but challenging.

Make some mini-goals:  If you already know that not everyone is going to say yes, find some Mini goals to get you through.  After 10 calls, get yourself a coffee.  After 20 calls, get yourself up and walk around the office outside.  After you set up 3 meetings, go buy a candy bar.

Give yourself small treats for inching towards your final goal.

Track your sales metrics:  

• What is your average deal size?
• How many deals does it take to make your desired sales number for the month?
  
• How many substantive meetings does it take to make one deal?
• How many quality phone calls or emails does it take to get a substantive meeting?
• How many dials must you make to actually get through to someone
• Now multiply that "# of dials" by 1.25.

Armed with these numbers, you can figure out how many actual phone calls you must make in order to make your desired sales for the month.  

If you don't have a clue of any of these numbers, then you should go back through your records and figure it out.  A great salesman ALWAYS knows his/her metrics.

Why do you work?:

Why is it that you work, anyways?  To put food on the table?  To buy toys?  

Whatever your motivation, be sure that your office is peppered with those reasons.  If your child draws pictures, you should have them on a wall, reminding you that every sale can go to pay for art school.

My office has pictures of my wife and kids all over it (my office is a little messy, so sometimes I have to hunt for them).

The point is that you should make sure that your external motivation (outside the office) matches up with the internal motivation (inside the office).

A new week and a new month have begun.  If you are like most salespeople, the optimism is flowing and you are excited with the possibilities of kicking butt in July.

Chances are, you haven't sold anything this month, and the month is a week old.

Get your butt moving.  NOW!

1. First Monday of the month in my office is "cold call day":  5-10 new meetings should be your goal....Make special note that these meetings should be with companies that are not currently in your pipeline.  Best bet is to call companies that either said no 6 months ago, or ones that you lost touch with.  
2. Call anyone that you thought you had a deal with last couple of months, but didn't pan out.
3. Call the big elephants who were in your business plan from January.   
4. Monday is your day.  TAKE IT! 

This morning I had a philosophical conversation regarding activity that leads to sales.

I was told that the more sales activity that you have, the more deals that will close. In some cases, I believe this to be true.  I know for a fact that if you don't have enough meetings your pipeline will be devoid of enough deals to complete your month successfully.

I have also seen this theory fall flat on it's face.  I have seen a ton of salespeople who meet with a lot of people, but fail to close any of the deals.  This happens for many reasons.

So when I was told the theory of more activity leads to more deals, I disagreed.

So aside form low activity levels (too few phone calls, too few meetings) what would be some more relevant metrics that a sales organization could focus on?

1. Substantive Meetings:  A key to my success as a salesman is to schedule meetings with the right people at the right companies. 

           
First, I like to identify which company can get the most benefit from my products.  My goal is not to find a new vertical to sell in to, but to find companies that are similar to my client base.  If 60% of my prospects are commercial real estate appraisers, then I would like to put my effort in to selling the remaining CRE appraisers.  I don't try to sell to a whole new segment.  Another tactic is to see who my competitor is selling to.  Chances are that my competition has already sold a need to these people, and I can come in and show how my product is better.  Meeting with the wrong type of companies can skew your metrics and provide you with an inaccurate sense of security.  You get lots of meetings, but few sales.

Second, I identify the correct person within an organization to speak with.  I will initially go to the top of the food chain at an organization.  I have seen many salespeople go after the lowest person in the organization in order to get buy in.  I found that tactic to be a waste of time.   I like to find out who the final decision maker is for my product.  I will do everything I can to meet and talk to the decision maker.  There is little benefit in speaking with someone who cannot say yes.  Years ago, we had a guy in our office who would schedule meetings with underlings.  He would present our wares, and then expect the value proposition to be sold up the ladder by the non decision maker.  Sometimes it worked, but most of the time it didn't.  Sure, this guy had a ton of meetings, but he never really got any answers why they didn't buy.  Nobody can sell your product to management better than you.


TO BE CONTINUED...