Sales Focus: Online Channels vs. Traditional Tactics0

CofC Mar 13

The Pipeline Guest Post – Megan Totka

The Internet has opened up a whole new world of marketing and advertising tactics. And although this isn’t breaking news, people are coming up with new ways to utilize the web every day when it comes to sales. But are we letting more traditional sales practices fall by the wayside in lieu of solely committing to digital tactics?

In my experience, the companies with the best strategies are making the most of both types of marketing. Finding a winning combination of traditional marketing and Internet marketing can take some trial and error, but it’s worth it for your company in the long run. Consider these perks of focusing on online advertising and sales:

•    Less Expensive
While running a business website isn’t necessarily cheap, there are many ways that you can advertise online for very little cost. Facebook, Twitter, and Instagram offer great outlets for marketing and a variety of tools to help you build your network and share your message.

•    Bigger Reach
It typically costs less to reach more people with online marketing. Using social media accounts and websites can generate thousands of views—even hundreds of thousands for successful companies—each month.  It’s difficult to reach that many people with traditional marketing tactics and a small business budget.

•    More Outlets
There are so many ways to advertise online. Some of the most obvious include social media networks. The biggies include Facebook, Twitter and LinkedIn, but there are hundreds of other social media sites that you might consider using based on your type of business and your audience, among other factors. Community-style message boards, blogs, and websites may also be ideal channels to add to your digital strategy.

Although digital tactics can undoubtedly be effective, traditional advertising and sales still carries a number of benefits, too, including:

•    Tangible Nature
Some people like advertising materials that they can see in person or touch. Some examples might include business cards, postcards, or business swag (think branded water bottles, key chains, or pens).

•    Increased Permanency
Marketing campaigns such as billboards or magazine ads can be placed for a longer period of time without needing changes. Online, it’s more necessary to keep content new and changing constantly to not only serve your audience, but also search engines.

•    Appeal to a Larger Audience
Don’t confuse this with having a larger reach. While online advertising may have the ability to reach a higher number of targeted people, traditional marketing techniques reach multiple generations and income levels and typically aren’t as segmented as digital alternatives.

Your best bet as a business owner or salesperson is to find a balance between the two types of marketing. It’s important to gauge your audience to see which kind of marketing best suits your clientele. If you can find the right combination, you’ll be able to reach a huge audience and give everyone something that they want—not to mention using a variety of marketing techniques will help you increase sales and expose your company to new customers.

(Photo Source)

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.

Shock Treatment – Sales eXchange 1922

by Tibor Shanto – tibor.shanto@sellbetter.ca
 
Jump Start

Last Monday I posted about the overlooked opportunity in that segment of buyers know as Status Quo, pundits and sellers alike commiserating each other about the difficulty of selling to a ready group of buyers, vs. taking orders from self-declared buyers.

I’ll be the first to admit change is hard, especially for business buyers who have their handful, trying to make headway in a competitive market.  Change is time consuming, a drain on resources, creates upheaval, usually expensive, and fraught with risk, for the organization and the individual at the centre of the decision.  Moving the dial with these types of buyers requires more than a bit of effort, which is why change is also hard for sellers; it is much easier and safer to rationalize, and wait for a referral.

This is why there is a healthy and growing industry of sages ready to sell indisposed sellers every mean of just waiting at the edge of the forest, encouraging them to wait for something to come out to them, rather than entering the fray and winning business most sellers seem reluctant to peruse.

How much effort does it take? Well take a minute, step back and look around you and study what it takes for people to make critical changes in key their lives. Frighteningly, you discover that people don’t often make big changes, right changes, preferring to avoid and live with the consequences of the Status Quo.  Even when they know that the new state is preferable to their existing one.  The naive notion which many buy into that people will move to a better mouse trap has cost both sellers and buyers much time and money.  You can build the better mouse trap, Trap 2.0, and people will rodent infestation will maybe look your way, then rationalize why they shouldn’t beat a path to your door.

Don’t believe me, how many people do you know who continue to smoke, even after their father expired due to lung cancer; how many people do you know who continue to biggie size it, despite the fact that they have to buy a new wardrobe every six months?  People can change these with a effort if they wanted to, but it takes effort.  How many times have you watched companies go to the brink or beyond because the devil they knew was a better alternative to the one they didn’t know?

The answer is not offering the “right” or “better” solution, or in becoming their friend.  It is about penetrating the barriers the buyers have erected to protect their current state.  Your only choice is to shock them, shock your way past their fortress of hope.  Hope it will work out, hope it will last, and hope no one will notice.  For the “be found crowd”, this is not an issue, the buyer has dismantled the barriers, and are ready to change, but for the Status Quo, intervention time.

Now I am not talking about clamping a couple of electrodes to your buyer’s temples (or elsewhere); but I am talking about asking hard and very direct questions, which at best could be called provocative, at worst a punch below their reality belt.  One does not have to be rude, but one does have to shake things up, which means the ultimate relationship you have starts out a bit rough, but ends up being a solid one, built on being a reliable resource, not a cuddly friend.

There is plenty of writing and thinking out there about how to succeed with the Status Quo, mine, others who provide means and questions you can use.  But the first step is for you as a seller to recognize and decide how you want to deliver value to your buyer.  Once you decide that you can do more than just take orders from ready buyers, and win more business who may not think they need you or your offering, there are plenty of resources to help you, but as with other changes, you need to first admit that you are a card carrying member of the Status Quo.

What’s in Your Pipeline?
Tibor Shanto  

5 Tips For Cutting Overhead Costs and Unleashing Your Sales Team’s Potential0

Running The Sale

The Pipeline Guest Post – Zoe Maldonado

Cutting overhead costs is one of the best ways to help your business succeed. With many businesses, the expenses are far easier to control than the profits. Cutting overhead doesn’t only help you on a financial level, but it also simplifies the management of your business. Cutting overhead costs is extremely complex and depends on the industry that you’re in, but here are some good ways to get started.

Move key resources to the cloud

Cloud computing is a relatively recent development and has been adopted by many companies as an excellent way to save money and operate at peak efficiency. With cloud computing, you take advantage of an array of computers over a private or local network like the internet. You can use these computers just for data storage or to host and run your business software.

Cloud computing is inexpensive, secure and Eco-friendly. Taking advantage of cloud technology means that you won’t have to spend any money on your own network or multiple software licenses; and you don’t need to have space for your own data servers. This saves you on both your technology budget and your rent and storage. Cloud computing also enhances the efficiency of your business because it allows your sales staff to access files and data from anywhere in the world. This efficiency can easily translate directly into increased sales. In addition, new studies are showing that businesses using multi-tenant cloud data centers produce less carbon than businesses utilizing the same types of services in-house.

Process sales on the go

Mobile credit card processing is the wave of the future. Even the big box stores have started taking advantage of this technology, and for small business use it has many clear advantages. With mobile credit card processing technology you can take a payment from a credit or debit card anywhere you go. These types of services often have a small credit card reader you can attach to a tablet or smart phone in order to swipe customer’s cards and close the sale right away.

Ditch the office space

With all the mobile apps for businesses available today, a physical location isn’t even necessary for many business owners. If you find that your staff is mostly on the road, and that you can do your work from home, ditching the office space can be one of the most cost saving decisions you make. If you need a storefront office, you can always down-size and allow some of your employees to “work from anywhere”.

Hire independent contractors

Independent contractors are on an hourly basis and can’t claim the benefits most employees do. Of course, you need to follow the government’s guidelines on whether your staff qualifies as independent contractors, but many do. You may not be able to get them for as many hours, but the savings will pay off.

Ditch the land-lines

Phone systems are often one of the most expensive initial costs for a company, but this goes back to the olden days when phone systems were the core of a business. Consider switching to mobile phones if it’s at all possible, because this will not only save you a lot of money, but it will also enable your staff to be more accessible to clients. Land-line phone systems have expensive monthly costs and are chained to a desk, so if your sales staff moves around a lot, land-lines are virtually useless.

About the author

Zoe Maldonado is a freelance writer and blogger for TechBreach who enjoys writing about all things mobile and electronic and spending time with her very active twin boys.

Why Settle For Just One Thing?1

By Tibor Shantotibor.shanto@sellbetter.ca

Haa2

Infographics are the rage these days, they leverage two powerful elements of communication; important “must know” and compelling information delivered via power of the pictures, where every picture is worth a 1,000 words.  Sales people and organizations love to use these as a means of communicating big picture changes, where if buyers want to benefit or get ahead of the facts and trends represented, the choice is clear, “our product is designed to help you…..”

But here is a real challenge, while the marketing people who produced the infographic may have an appreciation for change, the sales people in those same organizations often resist change, especially in the way they sell, leaving the buyer with a mixed message.  Mixed messages create doubt; doubt is a kissing cousin of risk, and no one likes risk (well at least 70% of the population don’t), especially buyers.

A big challenge for VP of Sales, and to a lesser degree the front line sales managers, is not so much convincing the market or buyers to commit to change, but to get their own sales teams to buy in.  As for front line managers, many were promoted to the role due to their success in the field rather than their ability to manage; they then take this recognition as a cue to get their teams to do what they did; and they do, leading to little change in the way things are sold.  This is why more than ever, the job of sales leaders is to lead change by “selling” their teams on the need to evolve their selling approach as fast as the market is changing, and certainly as fast as in the infographics they rely on.

We are all resistant to change, but sales people as a group of professional seem more reluctant than most.  I get a front line view of this when working with our clients.   During the pre-program interviews Renbor conducts with participants in the program, most sales people, veterans and newbies, inevitably say something that sounds like:

“The way I look at it, if I can take away even one thing, it will be worthwhile.”

One thing?  Are you kidding me, one thing?  That’s all you aspire to, to learn one thing?  Why, any more than would shatter your universe, require an upgrade in memory, or is it that just may require some real effort?

Even the weakest, most middle of the road, vanilla flavoured, beige program, has more than one thing the average sales person faced with a market of change resistant buyers could make use of, so why go into it with such diminished expectations?  Is that the level of expectation and aspiration sellers bring to their sales as a whole?  How will that effort hold up vs. the few sellers willing to go the distance?

What I hear is the person saying that they don’t want to make the effort involved in, if not improving to the way they sell, at least adding to their repertoire or enhancing things they are already doing.  This is sad not just because it says something about the profession, but it falls short of buyers’ expectations.  After all you are asking them to change, abandon a way of doing something they are already doing and commit to your product and your way of doing things.  Buyers react to many things, one is the way they are being sold, and if the way you execute your sales contradicts the message you are selling, buyers will respond.  Generally the response is in the form of an unspoken reduction in trust, a reaction to “do as I say, not as I do” sales approach.  Being incongruent is not a good thing for sales people to be; preaching is ineffective enough to begin with, your behaviour and approach to selling contradicting the stuff you preach is just asking the buyer not to act.

For many, the line that even if they learn one thing it will have been worthwhile is a way of pretending they are open to learning something new, and willing to support the cause.  But in reality what it communicates is their means of avoiding the effort involved in upgrading their skills and results.

Trying one thing is easy, pick the least offensive to your current sales compass, and its done, with little or no impact on you or the buyer.  But even when stretching, the pattern is familiar, they try the one thing, it does not produce textbook results the first time, and now they have a means of, an excuse, for avoiding everything in the program.  By being able to point to one thing that did not work, they conclude and rationalize that use that by extension nothing in the program works, which is why they don’t want to risk it on their buyers, so it’s back to same old.

Imagine if a pilot on your next flight, who has been flying for ten years took the same attitude when they first fly a new plane; or if a doctor you have been seeing took the same outlook and practice to new diagnosis, instruments and drugs.  How long would you stay on the plane or go to the doctor?  How long should a buyer stay with a seller who is not up-to-date in their thinking, and is asking you to take steps they themselves are reluctant to?

This is why follow-through is key to not just sales training success, but more importantly sustained behavioural change that allows your sales team to evolve and grow their skills.  Follow-through is important for both the individual sales people and their front line managers; while many can sell, many are not comfortable with being agents of change.  They need to understand that their role is not only to help their people sell better, but to lead change.  This is why often the best ball players do not make the best coaches, but the reverse is often true.  These coaches understand that their role is to challenge the norm, not drive conformity.  This is why often the coaches who we felt were in our face about the wrong thing, in hindsight have the greatest positive impact on our selling approach.  Most new military recruits hate their first drill sergeant, but always remember the impact that first one had on their success; specifically breaking old habits and instilling new ones, including the habit of change and adoption.

This is also why we get program participants to commit to three things they will put into practice the next morning after the program is delivered.  No chance to waffle, pick and choose, make your selection, and then the manager and us can help make them make it happen daily and in the follow-through, using metrics and standards to drive action.

Change is hard work, it requires time, effort, commitment, and often resources, and in the case of your buyer, it involves spending money.  I don’t like to work hard either, but I like the rewards it brings.  Without the extra work we are left to enjoy what we know.  In light of the fact that numerous sources point to the fact that only about 50% B2B sales people made quota over the last few years, how inviting is what we know versus the possibilities something new brings?  Its just a question of will and effort.

What’s in Your Pipeline?
Tibor Shanto

Status Quo to Sold! (#video)0

 

By Tibor Shantotibor.shanto@sellbetter.ca

TV Head

Many sales people find it difficult to engage with and sell to buyers who are set in their ways, the status quo.  In fact there are sales experts who tell them not to even try or bother.  Well I am here to tell you that there is success and money to be had by engaging with these buyers if you know how, and it all starts with you.

For more specifics on how to achieve change in how you sell and how buyers perceive it, see GAP Selling.

What’s in Your Pipeline?
Tibor Shanto

New Year’s Evolution0

By Tibor Shanto – tibor.shanto@sellbetter.ca
Success premium

Last week I posted about the how trends don’t use calendars and the flaw in trying to tie trends and the start of a new year; people on the other hand are different and do make effective use of calendars and planning to make improvements or changes in the way they do things.  This includes sales people and the way they sell, and I would encourage people to set more time based objectives, and develop and execute a plan for achieving the desired results by or within a targeted time frame.

The new year is a natural time for people to set these objectives, hence the ritual  of New Year’s Resolutions, interesting concept, not often effective.  According to Knowledge Wharton Today, “Nearly half of Americans make New Year’s resolutions each year. Of those, only 8% are likely to succeed.”  Not great odds, not even a good closing ratio if you are in sales.

I have seen sales people resolve to make more calls in the coming year, to go after accounts they were reluctant to approach, and other things that they see as a major change in the way they sell.  I am all for “stretch goals” in the various senses of how the term is used in sales, but to be effective the “stretch” needs to be reasonable, not extreme.  Sure if the extremes were achieved that would be great, but in most instances they are not, and turn out to be negative and discouraging.  As the article points out, they become counter-productive.

The goal is to set reasonable attainable goals, building on what is already working, adding new elements of execution or strategy.  The key is to set both goals and execution plans.   There are times where people set a reasonable goal, but fail to develop an execution plan, and the outcome is negative, and the goal is abandoned.  But if you set a series of doable goals, each building on the other, you can truly evolve your sales game.  As you succeed  at the first goal, you can celebrate your success, reap the benefits of their progress, and have the confidence to move to the next goal/challenge.

This allows one to evolve through the year, through their career without the shadow of a big resolution, and the disappointment of not achieving it.  The approach can be applied to a number of aspects of sales, not just sales techniques or skills.  You can look at market trends and evolve your product or message to leverage the trend, buyer habits or practices and more.  The key is to make sure that you set yourself up to win, not just to play and be disappointed.

BTW, there is nothing wrong with resolving to do big things, just make sure that you have also set to evolve in small ways.  If you achieve both, great; but if you miss on the big resolution, you still benefit from your new year evolution.

What’ in Your Pipeline?
Tibor Shanto
Book 15 minutes with me!

The Three Rs of Sales – Sales eXchange 18243

change

While I have always supported the concept and the focus behind the three R’s of academics; although I never understood why the academic community would go for the label, given that only on of the three words in question start with an R.

We in sales hold to a higher standard, and therefore the three words that make up the three R’s of Sales, all do indeed start with the letter R!

  • Reciprocate – It should not be news that the most successful sales people look at sales from a giving standpoint, rather than a what can I get standpoint.  Unfortunately, the latter makes up the majority of the sales population, often this is a result of the “message” and “motivation” they get from their management.  While I do not shy away from the sales rep as a “hunter”, the prey is not the buyer.

While most of think of reciprocating as giving back, you can also think of is as just giving; specifically giving to you buyers and prospects.  The notion of giving is not new, but often sellers give in return for something they “have gotten”, like a next step, an introduction to a decision maker, or an order.

But if you can think of it in that if you give value to buyers in any number of ways right through the process, the buyer will reciprocate.  At time this may be in the form of a referral, next step, or the order.  Reciprocate forward as it were.

  • Reinvent – This may seem straight forward, but is probably the most difficult for many sellers.  It involves two disciplines, one is reviewing sales to see what’s working, what’s not, and what needs to be done to change that.  The second is change itself, sellers find it hard to change, even though they spend their time and effort trying to get buyers to change in a number of ways.

The need to review every or a significant sample of your transactions is crucial.  I have spoken about it extensively on this blog, the need to review all sales initiated, win – lose – draw.  You can still download the 360 Deal Review tool, and start what is an easy but valuable exercise.   The key is what you identify as working, what is not, and more importantly, what you are prepared to do about it.

There a many teams I see who review, note, but do not implement change.  Without the last step, it’s just a validation exercise with little or no value.

Change is an interesting thing, it does not have to be wholesale or instantaneous, and it is exponential, sometimes it is the smallest things that have the biggest impact.  Meaning you can start small, limited risk, and tangible benefits.  The hardest is always the first step; so pick something easy, develop an action plan, a period of review, and do it a bit at a time.

  • Reputation –  There is one thing you have to hold on to throughout your career, that is your reputation.  Skills, clients, successes come and go, they can all be rebuilt or reinvented, reputations are a bit more delicate.   They can be rebuilt, but there is always a cost.  Reputation not only precedes you, which is crucial to success, but it also lags, people have a way to remember more of the bad than the good.  Of the three R’s this is fundamental, and without which the other two R’s are difficult to execute.

What’s in Your Pipeline?
Tibor Shanto

Sales Boxing Day30

Gift boxThere numerous histories and origins attributed to Boxing Day, so it’s only proper that we add to tradition from a sales point of view.

While I normally encourage sales professionals to think out of the box, in this post I will suggest you take some specific things and put them in a box so you can store them and get them out of your way to being more productive in the coming year.

While it is true that sale cycles tend to transcend numbers on a calendar page, people do have a habit of marking time, change and commitment to specific dates, especially the new year. A time when we make it a goal to do, stop doing and other resolutions that we hope will make the new year better than the one that just passed; although on reflection 2012 was pretty good.

But in order to make room for new habits, we must first discard some old habits, habits that have kept us from realizing full potential. These will differ for most of us, but the process of deciding – or avoiding – what needs to go in the Box, to make room for the new is not that different. Take a look at your performance for the year, did you get to you desired results? Here I don’t just mean did you hit quota, but your own personal targets, as they relate to you as a sales person, not those in your personal life. Did you develop that skill you committed to hone 12 months ago; did you stop doing things that were detrimental to your success.

One way to maximize this effort is to look at your sales in 2012, all that you started, look at the ones you won, lost or that ended with no definitive decision. Take a look and see if there are any elements that are common to each of the three, or some that are common to two or all three. For example are there actions that you failed to take in both losses and those sales without outcome, clearly something worth changing. There could be things you were doing that are sabotaging your success, if so, clearly something worth putting in the Box. As an example one thing I need to improve right across the board is generating more referrals, even from prospects who chose to go with something other than Renbor program.

As discussed in the past, wholesale change is not a realistic goal, but neither is marshaling on without an honest look at what can improve; just pick one thing and take the step to change it. Now is a good time for sales people put the old in a Box, and make room for new things outside the box.

What’s in Your Pipeline?
Tibor Shanto

3 Ways To Trump Status Quo (video)34

Want to make more money, sell to the Status Quo.  Here are three ways you can start:

What’s in Your Pipeline?
Tibor Shanto

Compounding Your Sales Successes40

One of the greatest things invented by the financial service industry was “Compound Interest“.  Save for the fact that no one is paying much interest on money these days, the reality of Compound Interest still holds and delivers added gain regardless of how low of high rates are.  I was watching a teacher explain the concept to a grade 5 class, and he brought it down to “a little to start, a little from here, a little from there, and over time you end up with more than straight interest”.

As you assess your plan for sales success in 2013, you can take advantage of “Compounding” to achieve greater success. Rather than resolving to do new things in new ways in 2013, why not resolve to improve a little here and a little there with things you already do or need to do; but do it in a way that ends up being greater than the individual gains on your efforts.

Read On…

What’s in Your Pipeline?
Tibor Shanto

wordpress stat