Welcome to The Pipeline.

Neither Either0

By Tibor Shanto - tibor.shanto@sellbetter.ca 

Confused by Too Many Choices Arrow Street Signs

While I am all for having a sales process or road map, there is plenty of room for choice, and there are some elements of sales success that are achievable via many paths. You have choice within a defined structure, the result is pretty much the same regardless how of the path taken. As a seller, your success will not be adversely impacted by the choice. On the other hand, there are areas where you are presented with the option between two paths, but one does not deliver the same results, where one path may be easier but consistently yields lesser returns than another, at times more demanding alternative. Often the alternative delivering better results may not be as comfortable at first, require a different effort. One common reason people will choose the less effective/more comfortable route is they do not want to come across as being “salesy”, you know for some, just asking for the order is “salesy” or pushy; or that’s what they tell me.

An example of the above is “choice” or “options”, specifically sellers giving the buyer options for no real reason or benefit other than their own comfort, not at all that of the buyer. Too many sales people offer up choices or options to their buyers throughout the sales cycle, where they are not necessary, where they could negatively impact the sale or momentum, and are usually deployed not because they make sense for the sale or the buyer, but because they help sale people cope.

Here is a common example early in the engagement, while on a prospecting call. You’ve positioned how you can help them achieve objectives based on you experience and credible validation, and you get to the point where you ask for the time to meet, and instead of creating focus and a call to action, too many sales people make the mistake of saying:

“So what’s better for you, Monday afternoon or Tuesday morning?”

Why? Don’t you know when you want to meet, don’t you utilize your time efficiently and set appointments based on where other meetings take place that day?

Rather than communicating “gee any time is good, I got nothing else going on, so Monday afternoon, Tuesday morning, makes no difference to me, any one of those, please I need an appointment.”

There really are those who tell me they don’t want to be pushy, they don’t want to “box” the prospect. So now instead of thinking about what you called them about, any potential value that you may have communicated to this point in the call, you get them to go back and forth between two points in their calendar, instead of focusing on one time.

Hands down, it is better to give them one time, focus them on that time in their calendar, and make it easy for them to say yes, or no, you can always offer up the other time at that point. But why introduce slackness into an otherwise tight call? Is it for the buyer’s benefit? No! If you want to make it easy for them, especially if you have set up the call well to this point, give them one specific time, their eyes will go there and bam! Give them choice, they’ll look at both, maybe see that they have a meeting Tuesday afternoon that they are not ready for, and what could have been an appointment becomes “It’s not the best time, give me a call next month”.

Another example where offering choice is not the best plan is at the time of proposal, too many sellers offer up options, A, B and C. Some even believe that buyers will always go to the middle price point, on the other hand if you offered only one choice, you would get a yes or a no, giving you the option of offering the mid-price at that time. As you have heard me say in the past, good sellers are subject matter experts, as such, you should demonstrate that expertise by putting the best option forward, not a range of options. Order takers offer options, because they do not create the sale, just react to it.

If you have truly sold the deal, addressed the buyer’s objectives, and have gotten confirmation of that throughout the sale, then the only choice is the best one based on the process that just unfolded. For me, go with the best, other than that, I’ll have neither either.

Tibor Shanto

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So What If You’re Wrong – Sales eXecution 2842

By Tibor Shanto - tibor.shanto@sellbetter.ca 

Wrong Lens

The other day I was on a call with a rep, she was well prepared, she met with her manager and I in advance, and started the call as planned. A few minutes in she asked a question laced with assumptions, and as luck would have it, all wrong assumption. It wasn’t a major point, but you could feel her discomfort. While I understood, I also know from experience that this could actually turn out to be a good thing.

As often happens, the prospect started correcting her, not to in a mean or demeaning way, just wanting to keep the facts accurate. But in the process of explaining, the prospect actually shared a lot of useful information which really helped our intrepid rep to better understanding the buyer’s biases, preferences, mode of thinking and purchase decisions.

Our friend the seller recovered quickly, and picked up on the fact and perpetuated the dialogue by asking more questions, presenting different scenarios, which got the buyer to open up even more, allowing our rep to gain insight better align her and her company’s vision and real value. By the end of the meeting she was a lot further than she had hoped to be, and the buyer was much more engaged and looking forward to the next meeting.

I see this a lot, human nature kicks in, the willingness to help others when they may have made a mistake, and nicely correcting them; only human right?

But most sales people are too hung up on being right, maintaining the facade that comes with that, they spend time trying to cover innocent mistakes, rather than leveraging them. There is nothing wrong with making an honest mistake at times – better yet there is nothing wrong with planning that mistake in advance.

If you know that there some area you need to uncover that may take some work, like a subject area that would be good to nail down earlier rather than later. A subject that you traditionally feel you have to wait till later in the sale to broach, think about making a mistake, specifically to be corrected, specifically to learn.

Reps tell me they are hesitant to go in certain directions in the discussion because they feel the prospect may not be ready. Well, rather than using the front door, why not go to the side door instead? Ask a question or make a statement that you know is based on a wrong premise, but is related to the topic you need to explore, and then wait to be corrected. Letting human nature kick in and accelerate the sale, or most often just break down barriers or log jams in the conversation.

I remember being with one of the best sales people I know, who was presenting at a well-known company. The meeting was very one sided, he couldn’t get them to engage or exchange information at all, they just sat stoned faced. Without their input and contribution, he was dead in the water. As a natural break came between subject areas, he asked if anyone had questions, a few shook their head to indicate no. Rather than continuing, he looked at the room, a dozen or so senior people, and asked “So, no one wants to play stump the sales person?”

A bit of a chuckle from some, quickly followed by a stream of questions. Some taking him up on the challenge, working hard to stump him, but most took the invitation lightly and asked some great questions. The ice melted, they were now fully engaged and he was learning more than had he continued with the presentation as many would have and do.

Don’t worry about being wrong, worry about moving the sale forward.

Tibor Shanto

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Do You Have Sellers or Pageant Contestants?0

By Tibor Shanto - tibor.shanto@sellbetter.ca 

Happy to be a business leader. Cheerful businessman with outstre

Juliet:
“What’s in a name? That which we call a rose
By any other name would smell as sweet.”

That may have worked for old Willie Shakespeare and sweet Juliet, but in sales names, labels and definitions count. While we already live with a lot of mislabelling, like sales people calling suspects prospects, or when they tell you a prospect is in “information gathering” stage, because a voice on the phone asked them to send a brochure. Usually you can roll with it, and put your energy into recalibrating their sales compass, rehabilitate and move on. But it is a bit harder to not laugh or even be concerned when it is the pundits who are off the mark.

I recently got a notice about a social selling event, as you know I hate hyphenated selling, it screams of sales people hiding things they don’t want to do behind a label; usually things one has to do if one is going to call themselves a sales professional.

The headline for the event read:

“90% of buyers start their journey online. Meet them where they are.”

OK, but if we are talking about selling, why are focused on just buyers? They are going to buy, they started the journey on their own. Let’s look at it through a B2C filter, where social media has truly impacted the sell/buy equation, they call these people shoppers. Yes, marketing and advertising got them to pay attention, they come to your shop, some high end shops may have specialist clerks, but I think if we look at Amazon, we see someone who has figured out what to do with shoppers, or buyers, and sales people are not part of that story.

While B2B shoppers, buyers by any other name, may require servicing between the time they made up their mind to enter the market and shop, about the only role a rep working for the winning “shop” is to provide price (or price concessions), and take the order. Again, we’re talking buyers, self-initiated buyers, which is why they went on line. Sellers add value to their company and earn their commissions by engaging with non-self-initiated-buyers, people not shopping, and bringing them in to the market and selling them.

These buyers are more like judges in the Miss America Pageant, and if you choose to sell this way, you are one of a long line of vendor-contestants, they will slowly narrow down till they crown their favorite order taker. Sure you can charm them during the on-stage questions segment, give it your all during the talent segment, (this is where the marketing team can really help), or pack a bit more oomph in the bathing suit stride across the stage. But there is no getting away from the fact that in this scenario, when working with self-initiated-buyers, you are one of many contestants, not a seller. You see sellers sell, they let others in the company handle the buyers. And as tools and technology make capturing and servicing BUYERS more effective and efficient, both from an experience and cost standpoint, the less requirement there will be contestants, and a greater opportunity for real sellers.

So what is your team made up of, sellers or contestants?

Tibor Shanto

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The Ultimate Beneficiary – Sales eXecution 2770

By Tibor Shanto - tibor.shanto@sellbetter.ca 

Market-Research

There certain things that people tend to “speak” in sales circles, which tend to be “tribal” in nature and are often mouthed to suit the circumstance or attain peer acceptance. But when you dig a bit you find that some of the things they speak to or of, don’t always reflect the way they actually execute. And since talk is cheap and the payoff is in the action, it is important to look at some and see if we can get some change, no, not for the bus, but for better sales.

One area where is who they target and pursue to gain engagement and traction, if not the sale. When you ask some (not all) sales people who is important to them in getting a sale or a deal done, they often respond that they need to get to the decision maker. Since that is not usually a title and the function varies from deal to deal, I find that response wanting.

When I ask some sales people who they sell to, especially without giving them a reason for the question, I often hear people who are users, and lower level decision makers, like managers, office manager as an example. Nothing wrong with these people, but they are often implementers or contributors to decisions, but not what we are looking for. When I push the issue, they’ll say “oh ya, well we also call on the executive or C suite”. Better but still, not the answer we were hoping for.

Given the way purchasing has gone over the last few years it is better to redefine the answer away from title, and more into roles. While I would not discourage anyone from going high in an organization, it is always good to be in tune with those setting the strategic decisions, they are not always the ones who decide, or decide the way some sales people would think.

Many senior executives place less importance on the actual product or services decided on, and put more emphasis on the how their teams see the offering, is there consensus around one product versus another. When there is, it means smoother (read less costly) implementation, greater adoption, and other more desirable outcomes, that in turn help drive objectives.

In light of the fact that there is often so little real differences between the offerings on the short list, senior leaders will often go for a product that may score 1% or 2% less on the comparative chart, but has the support of all, where the top one may have less than unanimous support.

In light of the fact that most leaders buy things to drive and attain objectives, and they rely and delegate aspects of that to others on the team, the goal of a seller is to identify and engage with the ultimate beneficiary. Sure it would be simple to say that’s the person at the top, but in day to day terms, it is the person who most relays or is impacted by the work and output generated by what’s being purchased.

Since buying and selling are economic activities, let’s stick to basic economies, supply and demand. Who generates the demand for the purchase in question? The person or people who are the ultimate beneficiaries. Based on the specifics it could be the VP of Marketing, or it could be brand manager for a specific segment. Identify the people who most benefit, and you will be in a position to not just create demand, but if it already exists, shape and influence it. Do that in a way that aligns with their objectives and those of the company, and you’ll be pleased with how those beneficiaries will influence the purchase process and decision.

What’s in Your Pipeline?
Tibor Shanto 

Perfection Is Overrated – Sales eXecution 2762

By Tibor Shanto - tibor.shanto@sellbetter.ca 

Perfect

While I am sure that this is not limited to sales people, they are the group I get to observe most, thousands to date in fact. One thing I see over and over again is the amount of opportunities by sellers because e of their propensity to wait for the perfect moment, a moment that all too often never comes. Be that the perfect moment to speak to someone, or until they perfect a technique or a script, or they understand the product perfectly. You know one thing that is not on that list is the perfect understand of the prospect, their environment or their objectives.

The interesting things is that some of the most successful businesses and business innovators rarely waited for perfection. They had enough of the right elements in place, and went for it, in sales parlance, they executed, and applied the lessons from the outcome. There are countless companies that waited to perfect only to miss the window or blow up when they came to market. Yet others, had a workable plan, vision, the basics, and went for it. Then they perfected things as they gathered data and experience.

The best sales people I know understand that the game is played on the field not in the locker room. Practice is important, a playbook is important, but nothing comes close to doing it – executing. The best sales people learn a lot off the field but their best lessons come from doing it, getting bruised and doing it again. The best sales are like building a plane while it is in flight, as the sale unfolds.

I find that what causes people to wait for perfection is less a quest for quality, and more driven by fear. The best sales people have one fear, fear of failure, of not making quota, of not delivering value to their buyers and their companies. I don’t know about you, but I find buyers aren’t looking for perfection, they looking to achieve specific objectives. They understand that waiting for perfection will only leave them lagging in the market. Add to that given that people buy from people, perfection is rarely a criteria for buyers or for execution, since people are not perfect, being perfect may in fact scare buyers since it may appear to make one not human or genuine.

Intent and effort go a lot further for sales people than perfection. You can often achieve more when you make an honest and genuine effort, explore the results, and most importantly, apply the lessons learned. One can argue that if and when you perfect your sale, it will only ever apply to that one sale, and therefore be of little value moving forward. Whereas if you go for it, imperfections exposed, you can only learn and improve. I guess as with most things, perfection in sales is about the continuing journey, not the destination.

What’s in Your Pipeline?
Tibor Shanto 

Why Are You Trying To Kill Me?1

By Tibor Shanto - tibor.shanto@sellbetter.ca 

Horrorfilm

Said the Cold Call To The Socialite.

Recent headlines about AC/DC’s drummer brush with the law, got me thinking why would someone want to kill someone? Such a passionate act must be a result of some big or egregious cause, or at the very least a means of avoiding harm. Then I remembered that in sales we see this all the time, over and over, people are trying to kill cold calling.

The most recent would be assassins are Socialites, social selling advocates, who seem to spend as much time sniping at and proclaiming the death of cold calling as they do speaking about what they sell, social selling products, seminars, remedies and dreams. I wish them all the luck, capitalism rules, everyone is allowed to make a buck, I just don’t understand why cold calling needs to be dead for their stuff to work. Cold calling does not present danger to them, in fact it complements and adds to social selling, just as social selling adds to cold calling success, so what’s the deal here Socialites?

You know I have never read an article or a post that was written by an advocate of cold calling, suggesting that social selling is bad, ridiculing people who use the practice to engage with prospects, suggest that it is inadequate, or about to die. Even though you can find stats that would suggested that on its own, it is not all the Socialites will have you believe.

I suspect the main reason is that cold callers do not see social as a threat, is because we do see it as a great addition to an existing set of tools and techniques we use to drive business. We cold callers seem to take a more inclusionary approach to engaging with clients and driving revenue. I would argue cold callers have taken a much more “social approach” than many Socialites who seem to either proclaim or wish that cold calling was dead. Now we all know it is not, you wouldn’t need to keep saying it if it was, it would be self-evident, when was the last time you read a piece about Plato being dead?

Let’s Spin Some Stats!

(Step back you don’t wanna get any on your shoes)
 

To start with not every buyer has a Twitter, Facebook or LinkedIn account. Not only that but depending on who you are prospecting, it is important to note that some groups’ social media activity is in decline. According VentureBeat’s summary of the 2014 CEO.com Social CEO Report “an annual survey that investigates the social media habits of business leaders, has been released. The results show a depressingly small increase in social activity from Fortune 500 business leaders over last year’s analysis.” Further, “Amazingly, the CEO.com report shows that 68 percent of Fortune 500 CEOs have no social presence on any of the major networks. Taking a deeper dive into the data reveals that while there has been significant growth in the number of Fortune 500 CEO accounts created versus last year’s results, the number of “active” accounts grew marginally. This suggests that nearly as many business leaders with existing accounts abandoned their use of social media.”

I’ll be the first to admit that you can probably find stats to the contrary, which just goes to show that sales and sales people are just as susceptible to hype as the next group. But hype is something decision makers have a radar for, serious decision makers want facts not hype, they want tangible things that help them achieve their objectives. This leads to the fact that the most effective means of communication with senior leaders is direct. And while 68% may shun a social presence, 100% have telephones and e-mails. The key is to have a meaningful message that leads to engagement.

Here are some famous stats that keep getting dragged out (and abused):

Corporate Executive Board reported that B2B buyers are 57% of the way to a buying decision before they are willing to talk to a sales rep.
• “A survey by DemandGen Report, reported that 77% of B2B buyers said they did not talk with a salesperson until after they had performed independent research, and 36% of buyers said they didn’t engage with a sales rep until after a short list of preferred vendors was established.”

I am not here to argue the stats, but I do want to point out that both stats refer to BUYERS. These are people who of their own volition initiated a buying cycle. Which means that by the time they are 57% – 77% of the way there, they are not looking for a sales person, but more an order taker. Sad but true. Sales People are paid to persuade and influence, not accept orders from someone who has for the most part made up their mind and is now looking to see which models are available and for someone to negotiate price and terms with. Definition of selling:

To Sell –
-   to persuade or induce (someone) to buy something:
-   to persuade or influence to a course of action or to the acceptance of something

The real problem with waiting for buyers, is that according to Chet Holmes and other sources, “About 3 percent of potential buyers at any given time are buying now” (The Ultimate Sales Machine – by Chet Holmes). Only 3% of your target market are active buyers, even if you social sold your share and then some, are you near quota? These 3% are the people calling you when they are more than half way through their journey, most are past persuasion or influence. If you want to talk SALES or SELLING, you need to be talking about the other 97%. If you want to sell to that 97%, you are likely going to have to pick up the phone and say something other than #wannabuy?

Since we are on stats, allow me to digress for a second. This is one quoted by a Socialite as proof of the “paradigm shift in the sales industry”

“10.8% of social sellers have closed 5 or more deals attributed to social media.” Or looked at from the other end, maybe it can be phrased “89.2% can’t attribute deals to social media”; and “54% of social salespeople have tracked their social selling back to at least 1 closed deal.” I bet the I can find unhyphenated sellers who can track a lot more deals to cold calling, and even more to just selling using all the tools available to them instead of just some.

Let’s look at the “short list claim”, and decision makers. DiscoverOrg surveyed 1,000 IT decision makers at Fortune ranked, small and medium-sized companies. It shows how outbound – today’s euphemism for cold – sales calls and e-mails affect and “more importantly disrupt vendor selection.” Further, some “Seventy-five per cent of IT executives have set an appointment or attended an event as a direct result of outbound email and call techniques.” Finally, “nearly 600 said an outbound call or e-mail led to an IT vendor being evaluated.”

So if you did cold call along with your socializing, you’d be in much better shape than narrowing your chances to one vs. the other, Socialite style.

“But I don’t sell to Fortune 500” I hear you say, “I target Small Business”, the other end of the spectrum. Well small business is only selectively accessible via social.  At a conference last summer, where attendees were owners or senior managers of business that were for the most part under $25M, way less than half said they were using LinkedIn. I am a firm believer in the value and power of social and selling, but if they are not there, there is not much point. And it will not surprise you that all of them had telephones and e-mail.

Oh yes, referrals. There is no denying that a warm referral is like first prize, and an indirect referral, second prize. But cold calling usually shows up as third in terms of return on time and effort. Me, I like to bet safe and spread my risk across all three rather than betting on just one. Besides, not everyone is in a position to get or generate referrals. If you are in a more transactional sale, a new rep to the company, in a new territory, referrals will have limited utility early on. Sure you can generate some from existing “happy” clients, but you may find your probation and bank account run out first. You will need to incorporate all tools available, including the dreaded cold call.

Dreaded being the operative word. Most people who kill cold calling suck at it, makes them hate, makes them bitter. Like overweight people looking for that magic pill, instead of understanding that the magic pill combined with regular exercise and activity will always deliver a slimmer tummy, and healthier state. Sure the Atkins Diet worked for some, but it worked better for those who combined it with exercise.

I don’t like cold calling any more than the next person, but I do it, and I do social, and I do it well, or so I am told. But I don’t need to insult or undermine anyone in the process of executing my total approach to prospecting. Why do Socialites?

Kumbaya Time

The point is to use all tools available, not just one or some.  The only reason for camps, social killing cold calls is to sell social products.  And that’s one thing that has not changed, “Buyer Beware”.  Few sales people I have met can live off referrals only, or off their base. Not everybody is selling social media strategies, inbound programs, or content. Way more sales people have to sell in the trenches, selling traditional products and services, where social has a presence, referrals may play a role, but new business success includes cold calling.

Cold calling is not dead, it just smells funny when done wrong, but done right, it has the sweet smell of sales success. So let’s break down the walls, let’s get rid of the camps, stop thinking about killing or dead things, and make some calls.

That’s my two cents, what about you?

What’s in Your Pipeline?
Tibor Shanto 

Frontal Sales Blitz – Sales eXecution 2750

By Tibor Shanto - tibor.shanto@sellbetter.ca 

Football biz

Several sources attribute the following statement to Gartner Group: “In a typical firm with 100-500 employees, an average of 7 people are involved in most buying decisions. Lesson: cold call multiple people in each account.” It does not take a firm like Gartner to come to the realization that more and more purchase decisions are going to consensus, and often the winner in a bake-off is not the best product, but the one most people in the buying group rally around, or at time settle for. Other sources will tell you that even the traditional uber-decision maker, will often support the product he/she feels his people will support and adopt over the best choice. If it doesn’t get used, it doesn’t matter what marginal advantages there may be.

The best way to respond to this is to execute a full “Frontal Sales Blitz”. A slight twist on the common football blitz, where additional players are sent to “rush the quarterback”—that is, try to tackle the quarterback or disrupt his pass attempt. The Sales Blitz approaches this a bit backwards, where the sales rep attempts to engage all the players on the decision team in order to build and create consensus around their offering. The disruption is perpetrated on the other sales people who like approach the team one at a time, and build consensus that way, I would argue the slow and wrong way.

Some sales people do this really well, especially those with experience in enterprise type sales, and who also see themselves as the central orchestrator in a hub and spoke approach to sales success. But many sales people are still reluctant to do this, especially when they have done business with one of the members of the buying team. Terms like “champion” or insider come to mind. They are reluctant to “go around”, “go over their head” or “risk the relationship”.

Let’s look at the last one, there is no relationship! Not one that counts anyway. You may have had a relationship with Buddy seven or eight years ago, and it was that relationship that got you in, and even kept you in, but times have progressed, and if they assembled a team to buy, you are at best assured to have one vote, and that’s no guarantee. I won’t even deny that when you lose the account it will be Buddy that will take you for a “last” drink while your competitor is installing.

You need to quickly learn from Buddy who is on the team, what their criteria are and then get to work. Tell Buddy you want to continue to serve the account and ask Buddy for help in doing that, if he/she is not wiling, they are telling you to do it on your own, and that’s what you’re going to do.

You need to connect with each of the members of the buying team, with an understanding of the overall mandate, and their individual bias, be that role based or personal. You need to understand how your offering aligns to those elements and the overall objectives of the company and supports their individual “world view”. To successfully do this in as little time as possible, you need to go to you library of Sales Rosetta Stone. Meaning you need to be able to speak the language of each of the members of the team, including Financish, HRish, Marketingish, and all other languages represented at the decision table.

Once you have the start of momentum take it to the uber-decision maker, but instead of talking about your product, and how great it is, and how this and that you and your company are, talk to the uber-decision maker about the consensus on the team, and the buzz around their ability to accomplish their mandate. Chances are he/she are not going to be “end-users”, but more likely beneficiaries of the output, and what is going to produce the output is the consensus your Frontal Sales Blitz created.

What’s in Your Pipeline?
Tibor Shanto 

 

So Listen – – Sales eXecution 2733

By Tibor Shanto - tibor.shanto@sellbetter.ca 

So listen

There are certain universal concepts and sayings in sales that everybody just nods to, “sure, of course, that’s hockey, motherhood and apple pie, of course.” And then they go in about selling like they always have whether they implement the concept or not. One of these concepts is around listening. “Come on Tibor, everyone knows you gotta listen, this is nothing new.” Then they double down and tell me “Tibor, I am all about active listening.”

But what does that really mean? Especially given the fact that the original Active Listening, dates back to the days of consultative or solution selling. Just as aspects of those approaches have felt the effect of time, in some ways so has active listening. And let’s be clear, my focus is not on the intent or merit of active listening, but the manner in which it unfolds with some sales people.

As with most things in sales is it about the execution, everything else is just talk, and often not worth listening to.

My main concern with the way some people “do” Active Listening, is that all too often it is really Selective or Filtered listening. Specifically they are actively listening for those things that fit their solutions, their narrative. And if they don’t hear it they try to steer the conversation in that direction. How many time have you heard a rep start a question with “wouldn’t you agree Ms./Mr. Prospect that if you could….., then it would be …..?” Of course it is often hard to say no to the proposition even though it may not add to the discussion at hand. But by agreeing, the prospect is taken down a predetermined path, a path that the seller hopes leads to a sales, but often doesn’t, just leads to wasted time and emotions.

If you’re a buyer and want to have some fun, next time you hear those words just say “no I am not sure I agree”. If the question was sincere, the seller will be able to add context and build on the premise, and extend the discussion; but if it was meant to take you down a path, you’ll see a classic deer in the head light moment.

Real active listening is a lot like bungee jumping, where as a seller you are willing to throw yourself into a discussion with a buyer, tethered only by your genuine curiosity and the strength of your subject knowledge. If either one of those is weak, you risk plunging to the depths of the gorge, your landing only softened by the bodies of other sellers who came before you.

Listening takes practice, especially since we think faster than people speak, it is easy to race ahead. Which is why many end up listening for selective things rather than everything the buyer is telling them. To be a better listener, you really need to be a better questioner. By learning how to formulate questions based on what they buyer is saying, you can engage them better, and demonstrate your knowledge, and move the discussion forward. One technique I was taught a long time ago, is to challenge yourself to ask a question base on what the buyer just said. This forces me to listen, evaluate, and synthesis the information before speaking. By using their input as a means of asking the next question, one can interview instead of interrogate.

What’s in Your Pipeline?
Tibor Shanto 

Why You Need Full-Circle Sales at Every Stage in the Buy Cycle0

Oct 14

The Pipeline Guest Post - Megan Totka

You’ve just earned your company a big contract and you’re about to look amazing in front of the boss. You worked hard for that sale, but what if it didn’t have to be so difficult? What if you could earn more sales from customers that already know, like, and trust your brand?

You can, by using every stage in the buy cycle to your advantage.

What is the Buy Cycle?

There are five stages a customer goes through when deciding whether or not to work with your company. The way you engage with the customer from introduction to deal-closing handshake has a dramatic impact on your sales success.

Creating a touch plan before, during, and after the sale is crucial. It’s easier and cheaper to retain loyal customers than to start from scratch for every sale. By developing long-term relationships, you optimize your marketing efforts and get the most from your customer base.

Here’s how you can incorporate full-circle sales at each stage in the buy cycle.

Awareness, Consideration, and Preference

Before a customer buys from you, she has to know you exist. This is the awareness stage. Once she finds you, your customer immediately begins considering whether your business meets her needs. She researches to decide whether she prefers you over your competitor.

Effective sales teams are intimately familiar with how to work with the customer at each of these stages. Your marketing team plays an equally critical role.

During this process, sales and marketing teams must work in harmony. With consistent, integrated communication, both teams can put together informative materials to address the customer’s problems, concerns, and questions. Scatter helpful content on your website and online to reach your buyer at the time when she needs it the most.

Purchase

Once you’ve convinced your buyer to open her wallet, you’ve made the sale. However, the sales process does not and should not stop there.

During the sale, your team has the opportunity to increase revenues by adding on valuable services. By upselling an existing customer into a better package, extra services, or more features, your company leverages an already eager buyer. This makes you more money and establishes greater loyalty to your brand. By not offering more during this stage in the buy cycle, you lose a tremendous opportunity.

Repurchase

Sooner or later, your customer will want to buy more. By anticipating this need, your company wins another sale.

Far too many companies neglect this part of the buy cycle. Many teams think that once a purchase is made, the customer will automatically return for future needs. Not so.

To sell better and sell more, your company needs to nurture existing customers. Send regular emails, keep in touch on social media, and reward your customer’s loyalty with exclusive offers. Continue to sell to your buyer even after she purchased. This will increase her loyalty to your brand and her likelihood to buy from you again in the future.

Using a dynamic online CRM like Insightly helps you track communications with your customers across all departments. You can identify gaps in the sales process, opportunities throughout the buy cycle, and new ways to drive bigger revenues from existing customers. Your company saves money over the cost of finding and developing new prospects by leveraging your current customers.

About Megan Totka

Megan Totka is the Chief Editor for ChamberofCommerce.com. She specializes on the topic of small business tips and resources. ChamberofCommerce.com helps small businesses grow their business on the web and facilitates connectivity between local businesses and more than 7,000 Chambers of Commerce worldwide.

The Objective Seller #webinar0

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How to Shift the Conversation from Product to Objectives

Join us on Thurs., Oct. 9th, 2014 at 2:00PM ET / 11:00AM PT for this free webinar

Most salespeople are taught to look for pain and needs. However, 75% of customers who switch from one vendor to another say they were satisfied at the time that they switched. There was no pain, and no needs, so what was the catalyst?

Objectives!

In this webinar, sales expert, Tibor Shanto, covers how to shift the conversation from your product to your prospects’ objectives.
Areas addressed include:

  • Breaking down “value” to core components and why people buy
  • Leveraging past experiences – Won, Lost and No Decision deals – 360 Degree Deal View
  • Building a better question
  • Proactive exploration

And much, much more!

After that, meet RingLead CEO, Donato Diorio, for a quick preview of Capture!, which quickly and easily helps salespeople gather contact data from anywhere on the internet into your CRM.

Join me and Donato Diorio in this exciting and eye-opening journey to sales success.

Register

 

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