Playing With Numbers – Sales eXecution 2470

By Tibor Shanto - tibor.shanto@sellbetter.ca

crystal ball

I was never big on Shakespeare, took me long enough to master English as my third language, good old Willie just confused things that much further, I must admit that I do have an appreciation for the phrase from Hamlet “The lady doth protest too much, methinks”. Not only as a parent, but perhaps in a similar vein working with sales people, as exemplified by a recent exchange with a rep I am working with.

Earlier this month in a post title To Call Or Not, I cited some stats about the level of effort required to engage and sell new buyers. The rep in question was very defensive about some of the numbers, asking where they came from, when I shared that with him, he kept on protesting and questioning, just like the lady in Hamlet.

Having remembered that the company had recently done a trade show about a week before our conversation. I asked how many leads he picked up, he told me about a hundred or so. I went on “how many have you contacted or followed up with?” He told me about thirty or so. Or so? What is there a margin for error, or a margin for slackness? Either way, below the stat he was protesting, and likely the reason he was protesting, the light was just a little too bright.

At this point you have no choice but to don my Kevlar reinforced wetsuit, and ask “what about the rest?”

I bet if I asked you to look away from the screen you can guess the excuses, go ahead give it a go.

First just the lack of time, apparently there was a battery that had to be driven across town to a client. I took a bullet, in as much as he had to attend training. But my favourite was “Some of these are not real, some were just tire kickers, I can tell which are worth following up with, so I went to hose first, I will continue down the list.”

I right away called my wife “Honey, I met a real celebrity, I spent my morning with Kreskin”  I can just see him holding those business cards up in the air, one by one, and divining which were buyers and which were not.

“Have you sent a follow up e-mail to the bunch?”

“I though Marketing was gonna do it”

Sales people are no different than others, if you don’t like the message, you shoot the messenger, and if the messenger is wearing Kevlar, try to undermine the numbers in question.

As discussed here before, sales people fall into one of two groups, what I’ve referred to as the X Factor of sales, execution, or excuses.  Not only was our boy not ready to execute, he was great excuses, a complete lack of accountability. Now to be fair, there was little clarity from the organizations as to what was expected after the show, i.e. “follow up with all leads within 72 hours.” But in the end, for someone so ready to question the numbers, he was doing a lot to hide form them and little to disprove them.

What’s in Your Pipeline?
Tibor Shanto 

Share

3 Reasons Why Objections are Not a Bad Thing3

By Tibor Shanto - tibor.shanto@sellbetter.ca

No sales keys

Most sales people think about objections as being a bad thing, a lot of sales people and worse leaders, get really uptight when it comes to objections. Often before we have even began to define parameters with stakeholders, they’ll say “Oh, and we need an Objection Handling session”, they want to take a tennis approach to managing objections, prospect “throws” out an objection, and they want to hit it back to them. But objections are really not a bad thing, not always convenient or easy to manage, but they are not a bad thing.

Here are three specific reasons why objections are not always a bad thing (no specific order):

  • Indicate engagement
  • Allow you to introduce more value/information/facts without pitching
  • Allow you to qualify – disqualify buyers

The goal here is not to specifically give you techniques, but more to get you to relax a bit and see how objections are good for you, your sales, humanity, and global warming.

Keep in mind that for the most part objections come up in two ways, when you are trying to engage or prospect them, (we did a six part series on this, you can find Part I here). The second is when you are trying to gain agreement, either during the sales on specific points that will move things forward, including simple Next Steps, or at the end when you are trying to complete the sale. In either case, what follows will help you put things in a different perspective and let you use the objective to improve your selling, as a whole, and in specific deals.

Indicates Engagement – Even though some objections during the prospecting phase are knee jerk on the part of the buyer, the fact that they “are responding” allows you if prepared, to deal with that objection and segue to a conversation, key is being prepared. As you get into the sale, the objections will be more specific, a direct reflection of what the buyer is thinking, and how they are interpreting what you are saying, and if they are not clear, an opportunity to correct course. Even towards the end, with the lowest form of objection, the price objection, it is an indication that they are involved, capitalize on it.

Allow you to introduce more information/facts/value without pitching – Every time they object, they are in effect asking a question of for clarification, what a bonus. You can get a sense where their thinking is at, introduce additional elements. You can usually go deeper, and more importantly ask for more clarification on the part of the prospect. “Help me understand what you mean by…” Many objections are really questions, or the buyer evaluating things and they vocalize them, it is my chance to recalibrate, add useful value elements, align with the buyer, and move forward.

Allow you to qualify – disqualify buyers – Sellers are always looking to qualify buyers, well their objections are a good qualifier, and as I have argued in the past, if your qualified prospect to closed ration is less than 50%, your time is probably better spent disqualifying those that you know will not close based on experience, which will leave you with more “qualified” buyers. Objections are a great way to disqualify, if you cannot manage and move beyond, you need to accept that it is time to move on, rather than play objection tennis, where you always lose. The big thing is that every time you disqualify a prospect, you have to replace them with a new one. Which is why some sales people would rather pretended they doing productive things by dealing with insurmountable objections, than doing some prospecting.

How you deal with objections is a different post, and there others out there with some great ways. But first you need to deal with how you view objections to begin with.

What’s in Your Pipeline?
Tibor Shanto 

To Call or Not9

By Tibor Shanto - tibor.shanto@sellbetter.ca

Touch

I am often asked a question I really hate, and while I have learned not to let it get on my nerves, and usually manage to deal with it calmly, it still pains me that my fellow professional sellers would ask it. The question relates to how vigorously one should pursue a potential prospect? I find the question bizarre on a number of levels, not the least of which is that today’s potential; prospect is tomorrow’s prospect, next week’s customer, and a stream of revenue (if not commissions) for some time after that. Ya, you should pursue it vigorously.

I am have a hard time not screaming when a sales person asks me “Should I call that prospect or not, I called him a couple of weeks ago, he didn’t call back, I guess he is not interested.” No, from where I sit, it is the sales person making that statement who is not interested. If they were, they’d be reaching out to the potential prospect, not asking the question. Not only do they lack the interest, but a good and executable pursuit plan needed to engage the potential prospect and start a mutually satisfactory relationship.

Consider the following:

48% Of Sales People Never Follow Up with a Prospect
25% Of Sales People Make a Second Contact and Stop
12% Of Sales People Make a Third Contact and Stop
Only 10% Of Sales People Make More Than Three Contacts
2% Of Sales Are Made On the First Contact
3% Of Sales Are Made On the Second Contact
5% Of Sales Are Made On the Third Contact
10% Of Sales Are Made On the Fourth Contact
80% Of Sales Are Made On the Fifth to Twelfth Contact

It is clear that the answer is not whether you should make the call (e-mail, tweet, smoke signal…) or not, but how many times, and what will you communicate. It is one things know how to spell nurture, another to execute it well

A good pursuit plan maps out how many touch points you will execute, in what sequence and frequency. Frequency is an important often overlooked or mismanaged factor. These touch-points should be made in a much narrower timeframe than many recognize or feel comfortable with. If you set out a pursuit plan that includes say eight touch-points, which is a median number, some go higher, some go lower, if you’re going to err, err on the higher end, so eight is about right. The time horizon should be between three to four weeks at the max. Long gaps, a week or two will just diminish the compounding effect of the touch-points.

When looking to connect with someone you have had no direct contact with, two or three touches a week are necessary, but most people don’t want to do more than one a week, you may as well not bother. One of the reasons they don’t call you back is you are allowing them to forget about you, and more importantly what you are trying to engage them around. That combined with the fact that you lose focus, and allow your attention to wonder during the long gaps.

The other key component is the combination of content, and medium. While I still think that Marshall McLuhan, would have been a lousy sales person, because it is the message that drives revenue, the medium does count. A combination of phone, e-mail, text, LinkedIn, tweets, introductions, smoke signals, you name it. No single touch should overwhelm the recipient, remember the goal is to engage directly not to sell. The content should entice the recipient to engage, while each may build on the other, the goal is to have the opportunity to complete the picture directly, even if it takes a few tries.

What’s in Your Pipeline?
Tibor Shanto 

Choosing the Sales Start-Up Mentality!2

By Tibor Shanto - tibor.shanto@sellbetter.ca

Start Up

Every day entrepreneurs all over the country start with an idea, some resources, tons of energy and even more attitude, and jump into the deep end of starting a successful business. Those very same days there are business people in the same market segment who decide they can no longer make a go of it and go out of business. What differentiates the two?

Every day there are new sales people stepping into new jobs, often into underperforming territories, and they not only make a go of it, but thrive. In those same companies there are other, more experienced sales people (or at least sales people with more years at the company); these sales people who claim to be smarter and to know better, struggle to make a go of it. They resort to spending their time telling everyone who will listen as to how the world, their company and their customers have conspired against them, causing them to fall behind. And to prove their point, they remind everyone (who will listen), of those gone by years when they were a contributing performer. What changed, what makes them different than the rookie?

Given that both pairs have access to the same resources, information and markets, both are limited and buoyed by the same market realities, why do they end up on opposite side of the same reality? While attitude has a lot to do with it, it would be too easy, not to mention depressing, if that were the only factor. While attitude is important, and can be adopted and some say trained.

In talking to both sales people and those who have succeeded in starting competitive and thriving companies, (not necessarily serial entrepreneurs), they both seem to share a Start-Up Mentality. Rather than seeing all the reasons why they may fail, they are drawn to, focus on and act on those factors that will deliver success. This is not to say that they ignore obvious pitfalls they will need to figure out how to avoid, they just that know that they are factors in the outcome as opposed things that predetermine the outcome.

When I deliver programs for sellers, I share freely with them that there are a million reason I can point to to why the methodology I teach will not work, but there are specific reasons why when consistently executed they do lead to sales success. One group, focuses on the former (without ever trying to put it into practice). The smaller group, chooses to focus on those steps that lead them to success. When I work with the reps individually, there are those who just remind me of those who succeed in Start-Ups. It is not genetic or attitude, it is focus and the discipline of execution, but more importantly the ability and the willingness not to follow the crowd, but to follow their plan.

When they are first on-boarded, most new sales people are eager to earn, learn, and impress their manager, and the company; the best way to do that is to do that is to follow and execute the process they are given. Many companies do have proven formulas for success, all you have to do is adopt and work it. But after the on-boarding is complete, they are set loose with the herd, and with that comes the indoctrination by their peers, and with the 80/20 reality still in place, the people doing the indoctrination, are the ones who have time to do it, the 80% driving 20% of the revenue. The 20%, the consistently deliver because they know what won’t work, and rather than “wasting” their time on trying those “things that don’t work”, they have time to do something other than sell, like indoctrinate.

The top 20%, the ones with the StartUp Mentality, do care about the new guy, but they don’t have time for get involved in the indoctrination ritual, they are busy selling. They are just like the entrepreneur who is just “too stupid” to fail.

Those sales people who can start their week, their month, their quarter, with the Start-Up Mentality, approaching each week or period as greenfields. While not ignoring failures, what they take with them into the next week are the lessons learned, and they start again; their experience is not an albatross worn with pride as they go down with their ships, but as building blocks.

The one consistent lesson I learn from these StartUp sellers, is they look at every week as a start-up week. If they were starting their sales job today, if they were new to the company and or territory, how would they approach it? By approaching every week with this outlook, they can still benefit from experience, good or bad, but they benefit much more from the market view they get as a result of their StartUp Mentality, like it or not, it’s a choice, and your choice, no one else’s.

What’s in Your Pipeline?
Tibor Shanto

 

Customers, Employees and Influencers as High Performing Sales and Marketing Channels0

Beedon Headshot

The Pipeline Guest Post – Dick Beedon

Although brand advocacy has always been important, it is critical today. The path to purchase has changed forever. Because there is so much data available, and because communication is so easy, today’s buyer almost always seeks advice from a trusted friend or consumer source before making a purchase. Brands are now starting to realize that what others say and write about them defines who they are.

Smart brands know they must build strategies and systems to generate, track and manage brand advocacy. They know they must encourage and enable the people that know and trust them – their customers, employees and 3rd party influencers – to advocate on behalf of the brand.

And it works. By encouraging and empowering these customers, employees and influencers, they will drive peer-to-peer referrals, forward content, share information about new products and promotions, and write testimonials. And they can do it at scale and more efficiently than traditional channels.

The Benefits of New Channels are Compelling (examples)

  1. They Build Brand Awareness – when a customer shares something about the brand with a friend, there is no better way of building the brand.
  2. They Generate Leads – those friends that respond and go to the brand for more information become the best leads a brand can get. There are few people on earth who will argue that leads generated from referrals are the best leads. 
  3. They Drive New Customer Acquisition – Leads from referrals close faster, they buy more and they stay longer. 

Other reasons customers, employees and influencers make good sales and marketing channels;

1.  Identify Brand Advocates and Build a Rich “Social” Data Set

Brand Advocates are identified when they register for or engage with your programs. By using technology systems, brands know who “opts-in” and advocates, how often they do it, what their sharing preferences are and how big their network is. We learn who they know and how influential they are. Brands are able to now get a deeper 360 view of their customer’s network value.

2. You’ll Know when Potential Customers are “In-Market”
Social channels provide insights and information not previously available. At the most basic level, social channels extend a brand’s sales force (with zero overhead) and they solve one of the biggest challenges brand’s face: knowing when a potential buyer is in-market. Only your current customers know when the people they know are ready to buy.
3. The cost of acquisition is lower.
This channel is always on and continually active – making referrals, amplifying products and promotions, and posting positive information about your brand. Brand advocates do this for a brand because they trust the brand and they want do it. Therefore, the time and cost invested into this channel is significantly less than other channels.
4. New customers that are referred by someone in your Social Channel are Valuable.
Research has consistently shown that consumers who convert as a result of a referral from a friend, are more loyal to a brand, spend more and stay longer.

Who are your Potential Channels and how Well can they Perform?

Customers, partners and employees are the fastest growing sales and marketing channel today. By utilizing the latest in social marketing software and technology, business leaders can mobilize these social relationships to generate new customers, and they can track and manage social behavior that is critical to the success of their company.

Customers recommend your products because they have first-hand, positive experience with them.

Today’s truly successful companies understand the importance of leveraging their customers into sales and marketing channels that drive corporate productivity. Creating and cultivating a large group of advocates can: pay huge dividends in the growth of your brand, increase subscribers, and boost profits. The financial investment to create this channel is minimal when you compare it to the long-term payoff for the brand.

About Richard Beedon

Richard Beedon is a founder and CEO of Amplifinity.  Beedon has led the acquisition of both Entyre Doc Prep (by Wolters Kluwer) and University Netcasting, who merged with Student Advantage (now collegesports.com) and was acquired by CBS. Dick’s thought leadership and early adaption of SaaS based technologies that allow brands to manage advocacy marketing has been instrumental in the success and growth of Amplifinity.

Please, New Is So Old Now – Sales eXchange 2360

By Tibor Shanto - tibor.shanto@sellbetter.ca

Future

I got a note from one of the pundits in my inbox telling me things I should do for sales success in the New Year. You may expect these type of things mid-way through December till maybe January 10th, but after that it is just an indicator that they don’t really understand B2B sales at all, and the customers they get as a result, they deserve.

As a sales person your really do need to live in the future, and fulfill in the present. You need to live in the future for two simple (probably more) reasons. First, if you are going to deliver real and lasting value to your customers you need to leave “ahead of them. If you are going to deliver to and drive their objectives, you have to be where those objectives will unfold, and that is almost always in the future. Especially with business leaders, be they leading small or large global companies. If you speak to these folks and you should, (as well as speaking to everyone else in the organization, it is not one über the others), you will notice that their horizon is in the future, based on who they are it could be six, twelve, eighteen months or more in the future. The have delegated the present to others in their organization, in the case of small business, they have relegated it to a different part of their thinking.

So if you are going to align and sell to them today, you need to be thinking and talking to things they thinking about, which means they have been in 2014 for some time, cranking up you preparation now, like the pundit suggest, nay, scream to the buyer, “This guy is no for you”, as my fellow Tull freaks will say he is “Living In The Past”. If you are going to step in to the roll of thought leader for these buyers, you need to recognize that you need to lead from the front.

The other reason you need to live in the future, is driven by the realities of calendars, fiscal years, invoicing and the payable cycles of your buyer. Let’s say you have a three month sales cycle (handshake to close), and you get paid when the first invoice is paid, 30 days is acceptable period for an invoice to be paid, you are going to need four months of run way for a deal to count towards your number this year. Which means anything you start after September 2, will be next year’s number. If it counts and you get paid, when the contract is signed, then that date moves to October 2nd. So if you were going to look at doing things a new way for 2014, you will have need to start that process last September or October, not January 26.

This is not to say that you should not always be adding new elements to your selling, just look at that as an ongoing part of your personal development, not an event tied to the New Year. Yes, I know the pundit needs to sell too, but you don’t have to buy if it will not help you now, or in the “now future”.

I am going to keep this mail as I am certain it is the exact same one she sent last January, with dates changed. I am not sure if I remember because it irritated me last year, or the fact that they used a stock photo used by a million other sites.

What’s in Your Pipeline?
Tibor Shanto

Sell Or Negotiate – What’s Your View?10

By Tibor Shanto - tibor.shanto@sellbetter.ca

Negotiate

Had the opportunity to listen in on an interesting discussion the other day between two sales practitioners, they were not aware of me, or what I do, I was just snooping. One, we’ll call him Fred, was telling the other, Joe, that he was looking forward to a negotiations program his company was sending him to, he felt this would help his sales. The other fellow, a bit more subdued and low key in his manner, smiled in a way that practically said “you silly sod”, suggested that the course may help his numbers occasionally, but will in no way help him sell better. And the battle was on.

Fred was saying that he often felt unprepared for the negotiations phase and having some solid training and a process to manage that part of the sale could only help. He insisted that knowing how to negotiate in a professional way would also allow him to arrive at a mutually acceptable, no one compromised, conclusion to deals. A win win, where both parties can walk away feeling they had accomplished a good thing for their respective organizations and cause.

Joe had a different view. He said he believed that the job of a sales professional was to build value for both parties throughout the sale, so by the time they arrived at the conclusion, both saw enough value in the deal that there was no need for what many call negotiations. If the sales person does what he/she is paid to do, they align their sales process with the buyer’s buying process, and communicate value in a way that there was no need to “add another act at the end of the play”, just to meet at a mutually acceptable point. That is why he felt that a negotiation process may help Fred’s numbers in some deals, but would not make him a better seller, in fact as Fred said, “you’ll become a lazy seller, looking for the negotiation phase to win the deal, instead of really and completely selling it from the start.”

Joe insisted that even when you execute the sale well, “there is always some need to negotiation, if not haggling, negotiations.” Joe, was resolved, “there will always be some discussion of some terms, some conditions, “things like delivery dates, small stuff, but if it is down to full blow negotiations that includes a piece on price, you did not sell the deal to begin with.” Joe said.

Since I could not see them directly, I am not sure if Fred read this next part from a brochure directly or just memorized it, but he said “you know Joe, every dollar you gain through negotiations goes straight to the bottom line.” I could hear Joe chuckle as he calmly replied, “every dollar of value you sell from the time you prospect them, take them through information gathering, through to proposal, also goes to the bottom line, but I don’t have to add an unnecessary stage to the sale, I’d rather sell it, then negotiate it.”

They kept on for a bit, I got off before it ended, I am sure they negotiated an amicable outcome.

But who do you think was right or closer to best practices, Joe who said sellers should sell, or Fred, who I am sure will get something out of his course? Let me know.

What’s in Your Pipeline?
Tibor Shanto

Dear Sales Diary2

By Tibor Shanto - tibor.shanto@sellbetter.ca

Diary

Those of you have kept or keep diaries, know that one of the reasons it has such great value is not just because you open up about intimate secrets, but that you share everything, not just the good, not just the bad, but all that and everything in between. You were able to go back and relive the experience, and more often than not glean lesson and things you would do differently if you had to do them all again. You didn’t just look at what you did well, or things that turned out to be good, living up to and beyond your expectations. You looked at the bad things that happened and tried to understand how you might avoid similar things in the future. The more honest you were the more rewarding the experience. If you skewed or slanted things one way, you may feel better for a while, but reality comes creeping back in, forcing us to deal with the bad, and the gray.

Sales people and sales organization need to keep a diary of their experiences, all of them, the good, the bad, and the in between. Most already do deal reviews in some format, but many do not, either choosing to them selectively, or just enough to satisfy a KPI or ScoreCard requirement. Few do the real deep dive required in order to get the most out of it, in the process allowing both a learning and revenue improvement get away. To be clear, and as you will see further on, “deep dive” does not have to be a laborious time consuming exercise with minimal payoffs, it can and should be an ongoing process that helps you with deals you are currently involved in, while also allowing you to capture and repurpose things on the fly. Done right, it should resemble the old EDS add about building an airplane while it is flying, the opportunity for sales people and organizations, is to build a continuously better sales, even as they are executing current sales, and prospecting for their next one.

Specifically this involves reviewing all deals you were involved in, those you won, those you lost, and those which go to “no decision”. Note, if you are involved in ten to a dozen deal a month, I recommend you review all of them; if on the other hand you are involved in dozens of deals, you may want to review a representative sample. If you have 7 wins, 15 losses, and 6 no decisions, review 25%, or seven, and you will get good, executable output. But as you’ll see, even if you don’t formally review each one, you will produce usable output.

Now some of you reading this may be aware that I am the coauthor of an award winning book about Trigger Events. In that book the recommendation was that you focus your reviews to only those deals you win. This will allow you to continuously repeat those things that are consistently help you win deals. Sound thinking, to a point. Let me explain, coauthoring a book is a lesson in compromise, you give you, you learn, you take, and in the end you produce a book that reflects the learning of both. But as you move on, the hope is that both authors evolve, not limited by the required compromises, and we each continue down our path, shaped by or experiences.

Since the release of that book, my thinking has evolved to where I see focusing strictly on one segment of your activities and only one of many outcomes, brings an unnecessary level of risk to one’s sales success, regardless of which one of the three possible outcomes you focus on. Given that on average, wins make up less than half of potential deals, if for no other reason than to broaden you perspectives, you should review outcomes other than just wins.

This is why the 360 Deal View was developed. It allows you to capture relevant information about the sale, the outcome and specific contributors to that. As with most tools, it is less about the tool itself, and much more about the approach and behaviours it promotes, which in turn lead to the desired results in more repeatable, predictable and consistent ways. It allows you to evolve you selling along with the way your market and buyers evolve.

While there is no denying that you want to know exactly what you are doing that is helping you win, you want to know what unfolded on the buyer’s side that prompted them to engage, and what outside and inside factors accelerate your sales cycle or cause it to slow and stall. What were the buyer’s objectives that allowed you to gain traction, and how you were able to connect with those? All important things you want to leverage. But it would be dangerous if not naïve to not go through a similar exercise with the other outcomes, losses and “no decisions”. Two simple advantageous to knowing why you lose, first, it may just take a small adjustment to change some of the inputs that will move a loss to the won column. Second, you may discover that a segment that made sense on initial exploration made sense to pursue, based on practice does not. Looking at “no decisions” will often allow you to understand when would be the best time to reengage, and take the cycle to fruition. It will also help you detect tire kickers a lot earlier.

These will be fallouts if you only review wins, but there is no denying that focusing on just one area, will lead to tunnel vision, causing you to miss changing trends that are more evident in the other categories, and more importantly, leave you very open to be blindsided. If you rely on one set of data, you will continue to find others who fit the mold, but it does not speak to the size of a market, things can continue to look good in a shrinking market, and by the time you react, many opportunities will have been missed, and competitors will have made unnecessary gains at your expense.

Most CRM’s and related apps will allow you to do a complete all three, and even allow you to get more granular if need be. You can download our tool here, but the key to success is not the tool, but the philosophy, and more specifically the discipline of doing it in up, down, or sideways markets. Just as with a diary, the best ones were usually written in simple notebooks, not fancy specially diaries, what made them great was the depth and completeness of what was captured, and the consistency of execution.

What’s in Your Pipeline?
Tibor Shanto

First Post 2014 – Let’s Cut The S*#T – 14

By Tibor Shanto - tibor.shanto@sellbetter.ca

No Shite

Buying Vs. Selling

As the first post of the years, I thought I would set the tone for the blog and hopefully sales in 2014. Let’s start by setting straight some unadulterated shit that has made its way into main stream sales over the last few years. It came out of the impact of the 2008 economic realities and the rise of social media in its sales form, commonly known as social selling. A cute marketing term that elevated the noise created by Sales 2.0, which just further drowned out reason in sales, and allowed people with social selling products to sell more, and pretend sales people keep their jobs.

History has taught us that when faced with a challenge you really only have three choices:

A. Get creative, apply your skills, and find a way to overcome the challenge
B. Redefine things in a way that allows you to avoid the challenge – not resolve or deal with it – but by changing the premise you mask the reality
C. Hide from it

Sadly, too often we opt for options B and/or C. Option B happily fueled and supported by pundits selling products or advice to sellers.

Let’s look at one of the biggest slices of crap peddled in sales these days:

slideshare attribute“60% of the sales cycle is over before a buyer talks to a sales person”, as quoted by James Wood, on Earnest About B2B Blog, Slide number 5, attributes the quote to Kieran Flanagan, Hubspot.  But when you follow the links to a slideshare presentation: Inbound marketing your secrets to success,  Kieran, on slide 9,  attributes it to the Corporate Executive Board.  The link in that attribution leads to a page on Latvian TV, featuring an interview with a musician on a bus, I don’t speak Latvian, and therefore not sure if he in fact stated the above (I’m betting not).  I am pretty sure he is not the one that set the absurd notion contained in the quote.

So we don’t know where it came from, but a whole bunch of people in the selling business are reciting it as though it was gospel. Problem.

What is described/discussed/contained in the quote, does not talk to a sales process, but a buying process! Big difference. The person a self-declared buyer talks to is not a sales person, but rather a quote/price dispensing order taker. It’s true, it doesn’t matter what it says on the business card, what it says on the web site or org chart, these are not sales people, they are process facilitators, and the process they are facilitation is the buying process, not a sales process. How can I tell, because order takers deal with buyers, buyers who on their own decided to explore a purchase, started defining their requirements on their own, unprompted by a (a real) seller. As they were at about 60% of their buying process, they needed some comparisons, some additional data that was not available on the company’s web site or the common social outlets, and some quotes so they could make their choice, So they reach out to the facilitator, happy to spew stats and facts, and quotes, that they are willing to negotiate.

This is not selling, it is order taking, and if it sounds like selling to you, well, I feel for you and I am here to help you.

Selling involves professionals who engage the best potential buyers based on criteria they, the seller, researched to identify the best opportunities for mutual success, their own and their buyers. This often leads to the reality that the best potential buyers, those will benefit and deliver revenue as a result, are not in the market. They are doing what they do until they are approached by the seller, which by definition means that the seller is likely about 20% – 25% through their sales cycle when they talk to a potential buyer who they are looking to convert to a prospect; and that potential prospect is at 0%, because their journey start when the seller calls.

Facilitators have no control over their success and destiny, as they are dependent on the buyer, who according to the pundits is in control. Scraps anyone?

Sellers not only control their success, income and destiny, but have more loyal clients, willing to pay full value, and rely on the seller based on their contribution to the customers’ success. You decide, not so much which you are or want to be, but how much work you are willing to invest to be the seller you ought to be.

Happy New Year!
Tibor Shanto

5 Things You Need To Stop in 2014 – Or Any Year – Sales eXchange 2320

By Tibor Shanto - tibor.shanto@sellbetter.ca

Five

As we headlong in to the New Year, and wipe the slate clean, symbolically in or in actual ways, you are going to face two certain things. First an endless barrage of meaningless awards shows meant to squeeze the last bit of sales out of last year’s products. And an even greater number of post and articles telling you all the things you should do in 2014, most of which are retreads of things they advised you to do in 2013.

Here are two things you need to do, first capture all that advice on your favourite cloud storage area. This way you can revisit it next Christmas see who had insights that paid off, and who was stinking out the joint. Second, rather than focus on what you should do, why not try not doing some things that have prevented you from being more successful than you are. Here five things to consider, there are probably others, try these, or three of these, but before you start new things, and coming more skills and talents, start by shedding some to make room for the new. So in 2014 Stop

  1. Being Trendy – There is always a new trend, a new tool, a new way, to be successful, but new is not always better, it’s just new. Successful sales people master things that work and then stick with them till they stop helping them succeed. Sales skills, like any skills, aren’t tied to a calendar, or product releases, they are tied to effectiveness, so focus on how effective something is in helping you sell better, and sell more. There are always new offerings, but will they help you achieve new levels of success, or just help the people peddling them find a new follower?
  2. Fixing Things – Most sales people these days remind me of solutions running around the country side looking for a problem, wearing t-shirts that read “I never met a prospect whose problem I couldn’t fix”. Well a lot of prospects don’t have “problems”, and therefore don’t see the need for a solution. But they all have objectives, focus on that, and you engage with more potential buyers, and sell more. Don’t be that shmuck who described his role as a sales person as “I find the soft underbelly of the prospect, stab it, then offer up the cure”.
  3. Talking – Yes, you’ve heard this before, but did you listen. Ask good questions – tough questions – questions they haven’t heard from the shmuck above, and herds like him. Questions about their business, not your “solution”, then shut up, listen – don’t finish their sentence for them. I was out with another sales trainer recently, and if I had a dollar for every sentence the prospect was not allowed to finish, I would have had a financially rewarding day, but as it is he talked us out of the sale. Take notes, have follow up questions, but let them do the talking.
  4. Listening – To everyone other than the buyer, for one simple reason, they are the ones who will write the check from whence your commission comes! If they can’t directly contribute to your sale, they are wasting your time, and time is a precious resource.
  5. Hesitating – There are a million things that can hold you back, but the worst is you. What’s the worst that can happen, you learn something and have to try again. What’s the best, you act and get results. Yes, hesitating does have more predictable outcomes, but usually less desirable than executing your well thought-out plan decisively. Don’t second guess yourself into to the safety of mediocrity.

Happy New Year!
Tibor Shanto

wordpress stat