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).

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...