Socializing Your Sales Success – Sales eXecution 2480

By Tibor Shanto - tibor.shanto@sellbetter.ca

change

A few weeks back I had the opportunity to it down for a discussion with Heidi Schwende, Chief Digital Officer & Certified Internet Consultant WSI Digital Moxie, part of WSI Internet Consulting. The interview explored the importance of and the “how to’s” of SOCIALIZING YOUR SALES SUCCESS.

Today I am presenting a small taste specifically focused on the shift in buyer behaviour, expectation and the impact of social selling on sales people and the way we sell.

Click here to see the entire interview, and come back Thursday for another snippet.

What’s in Your Pipeline?
Tibor Shanto 

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The Death of Cold Calling Has Been Greatly Exaggerated #webinar0

Join me on May 8th, 1:00 PM – 2:00 PM PDT, as along with the folks from Exponential Sales, we explore sales from the singular view of execution.

The best sales organizations are those who excel at executing their sales process; from demand generation, to prospecting to closing and growing accounts. The best sales processes are those that evolve and reflect the changing nature of their clients and markets. While there will always be “new ways” to sell, the best sellers look for what works, not what is new or fashionable, including yes cold calling.

The challenge is adoption of process that continues to change as often and as fast as your clients’ markets; it is like building an airplane while it is flying.

Learn how winning sales teams are uncomplicating their sales with a focus on an activity based process. The clearly defined and executable sequence of high value activities that address clients’ requirements and move the sale forward with each activity.

Learn why and how consistently successful sales organizations understand that the focus is revenue, not sales or marketing, but an integrated approach to driving client success. The combination of process, high value activities and mutual accountability between sellers and buyers and the organization to their sellers, leads to revenue success, regardless of “style or fashion”.

Learn how:

  • Execution based selling beats and other selling
  • Its more efficient to develop a hybrid of sales skills
  • Why Cold Calling and social selling are not mutually exclusive
  • The mechanics of a functional and dynamic sales process
  • Why numbers matter
  • Why Execution is the last word in sales

If you lead a sales organization, manage a team or are a front line seller, you need to attend this webinar, the first in a series looking at why much of the buzz in sales is distracting you from success.

The second webinar in the series will examine the opportunity to leverage technology to execute your process and drive revenue for your company, not just those selling you the technology.

Register

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 

What’s Your Favourite Hyphenated Selling – Sales eXecution 2460

By Tibor Shanto - tibor.shanto@sellbetter.ca

un hy selling

Several pundits have presented the argument that we are all sellers and we are always selling, no surprise, selling is part of life and the human experience, right from the guy selling fragments of the big bang, or the serpent selling Eve the apple. As a result, just like people, sales comes in different ways, shapes, approaches, techniques, etc.

This brings with it a host of labels and subsets of sales selling. What I call the hyphenated sale. You’ve seen this and will continue to see it throughout sales. Different labels/qualifiers placed on sales, some times to better frame the technique, sometimes because it pertains to a very specific part of the sale, other times the name of the person who “created” (ya right) that type of selling, other times just to be catchy.

There are times when it is nothing more than a marketing label. Let’s face it, we are a target for someone’s product, someone trying to sell a product to us, a course, an app, an assessment, so slap a label on it and start sell it. Other times there are movements that want to adopt a particular sticky tag as a means of finding a readymade audience, or as a means of siphoning off their competitors. If there are a group of people who are terrified and terrible at old calling, what better way to attract them than to adopt the label of no more cold calling, whether it works or not is secondary, what great branding. Sometimes the branding evolves, Sales 2.0 was the rage a while back, till all the various flavours realised there was more to be sold by going Social Selling.

So what I am asking for today, is your list of hyphenated sales, you don’t have to follow the methods, or be a proponent, or you could in fact be it’s biggest groupie, not the point here, all I am asking for is a list of hyphenated or branded sales you are aware of. Here I’ll get you started:

Solution Selling
Impact selling
Sugar-free Selling
Kosher Selling
Consultative Selling
Trigger Event Selling
Interactive Selling
Social Selling

Go for it, have some fun with it, let’s see what we come up 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 

EDGY Conversations: How Ordinary People Can Achieve Outrageous Results0

By Tibor Shanto - tibor.shanto@sellbetter.ca

EDGY Conversations

Those of you who have followed this blog for a while are more than familiar with Dan Waldschmidt, we have done webinars and other events, and his guest post a couple of years back Retarded Sales Behavior and The Reasons We Under-Perform, had one of the biggest responses I have had to a guest post. He never fails to deliver to his moniker of EDDY CONVERSATIONS.

Well fortunately for all of us, who enjoy edgy, or want to get the EDGE, Dan has written a book, EDGY Conversations: How Ordinary People Can Achieve Outrageous Success, an exceptional “how to manual” for ordinary people who are out to achieve truly extraordinary things. What makes it a great read and must have, is not just the content, but Dan’s innate and unique way of articulating things, to borrow from the usual book parlance “It’s a page turner!”

Dan spent four years looking at what high performers were doing in business, math, science, sports and politics. He put together 1,000 stories of ordinary people who achieved success against the odds. As a result of its breadth, this book delivers right from the start. Open a page and you’ll find everything you’ve never seen before in a traditional business book. In presentation alone the book is differentiates and engages, beautiful illustrations and vibrant colors jumping off the page just punctuate and brings the messages to life. After reading a host of books of this nature, it was pleasantly surprising to feel the lift after reading EDGY Conversations. I felt powerful and motivated and encouraged to do the hard things that lead to extraordinary success.

I had a chance to speak with Dan about the book, and what he took away from the experience. I asked him what common connections he found when he looked at high performers in business, math, sports, science and politics? He pointed to “four characteristics that we call EDGY: extreme behavior, disciplined activity, a giving mindset and a human strategy, were all prevalent in high performers, even across completely different verticals, like science and sports. The same radical beliefs that enable an Olympic competitor to push themselves beyond human capacity is the exact same belief system that enables a researcher to uncover a human biological breakthrough.

Some folks see edgy or extreme as being out there, but Dan presents a different more compelling view. When suggested that extreme, by definition, “too much” of a good thing, Dan offered up that “no, being extreme is not too much of a good thing. Extreme behaviour starts with a mindset change. It is really the core belief that you can achieve success regardless of the obstacles in your way simply through a relentless pursuit of answers. It’s a belief that by working hard enough and long enough, there isn’t anything that you can’t do. When you have that belief system, you look at problems as just another opportunity to be creative rather than bad luck or “everyone picking on you”. That mindset is important because it’s inevitable that each of us will face problems in our struggle to be successful. You can’t ever believe in yourself too much.”

Whether you are edgy in your approach to life, success or just being, or thinking about becoming successfully with an edge, this is a must read, so rather than keep you waiting, all you have to do is click here, grab your copy, and hold on.

What’s in Your Pipeline?
Tibor Shanto 

Don’t Be Afraid of the Empty Time – Sales eXecution 2450

By Tibor Shanto - tibor.shanto@sellbetter.ca

Appointment Time

Many people seem to equate action with productivity, doing things to “move forward”. And let’s be honest, in many ways some of the things I and my peers write and serve up on a regular basis, can easily be read to support that view. But the reality is that building in some flux to your sales time is an important element of success.

Planning your day week or month is not the same as filling your time. It is important to create some empty time. More importantly it is imperative that you do not feel guilty or fully productive because “you are not doing something”. We all hate it when someone else creates “busy work” for us, so why do it to yourself.

I work with a lot of sales people who tell me exactly that, “I need to be doing something, otherwise I feel like I am not contributing”. Sure sometimes this a result of just having a bad manager who believe you can only contribute if and when you are doing something. “Don’t just sit there, pick up the phone”.

While keeping a detailed calendar is key to ensuring success, and this may result in a “full calendar”, it does not mean that you have to be active and engaged in sales activities at all times. Just as you need to set time aside for the unexpected emergencies, (Grab you copy of the Sales Happen In Time white paper, to learn more), you need to include some down time, time to step back, re-energize, regroup, and re-emerge ready to conquer more.

If you run marathons, you know the 10-1 approach, run at race pace for 10 minutes and easy off for a minute, then 10 again. This gives runners the ability to run at a faster pace because the give themselves a chance to recoup. If you watch elite runners, they do it do, it is just that their off minute is not as noticeable as it is with old farts like me.

Create some empty time, allow yourself to not “do things”, idle time is not wasted time when consumed the right way.

One way, and from a timing stand point, a good one is today or tomorrow. The start of Q2, a good time to step back and not just assess how the last quarter went, what worked what didn’t, and then recalibrate. But to think about something other than selling that will in the end help you sell more. Here are three things you can try:

  1. If my line of product did not exist, how would my customers achieve the objective they achieve with the product I sell?
  2. If a law came out that required that everybody sell my product category at the same price, how would I differentiate?
  3. How can I help a prospect without involving my product?

There others, but create some empty time, don’t be afraid of it, the key is to make the most of the empty time, just as you need to make the most of the selling time.

What’s in Your Pipeline?
Tibor Shanto 

Game the Plan – With Chris Cabrera0

By Tibor Shanto - tibor.shanto@sellbetter.ca

Game the plan

Almost everyone in sales will tell you that incentives drive behaviour, but beyond that there is often little agreement among the pundits as to what the right incentive plan is. Some see it as a black art, while others, usually sales people, see it as something to manipulate, hence the expression ‘gaming the plan’. But ask Christopher Cabrera, founder, president and CEO of Xactly Corporation, who has a different view, and believes that front line reps and CFOs do not need to be at odds when it comes to incentives. In fact, Cabrera literally wrote the book on incentives, “Game the Plan: Every Sales Rep’s Dream; Every CFO’s Nightmare”, which suggests that when it’s done right, reps can and should game and maximize the plan, and everyone wins.

I had the opportunity to discuss incentives and the book with Cabrera, and ask him some questions many of my clients ask when it comes to their challenges around incentives and driving behaviour that leads to everyone’s success, buyer, seller, and company.

One aspect of the incentive where the pendulum of opinion swings back and forth is between simplicity and complexity of a plan. While some try to engineer things down to the minute detail, others, look to perhaps over simplify by offering 100% commission based pay. As you would suspect, the reality is somewhere in between. Cabrera’s view is that 100% is not the most effective, but over engineering a plan has faults as well. He suggests that structure is much more important than the specifics. What “counts is the number of measures; there is a strong correlation between the number of measures and a successful plan.” Measures being the elements being paid on, Cabrera suggests that optimal number is three measures being incented. As you exceed that number, you lose focus and therefore the effectiveness of the plan.

Another factor was the number of people being paid on any given deal, an extreme example Cabrera gave was a company that had over a hundred people on any given deal. He suggest that the right number of people is five.

Cabrera is also a proponent of paying different rates on different products. While paying on net revenue is a start, companies should also incent higher margin products at a higher rate, thereby driving sales and higher profits. He also discussed that managing activity is the role of management not the incentive plan.

Another area of discussion was the use of SPIFFs (Sales Promotion Incentive Fund). Cabrera explained that while this was an effective practice, companies need to keep them fresh and not overuse them. “Keep them guessing by changing the annual cadence, if they know it is coming and when, it loses the desired effect.” He also recommends that they not be overused, three times a year, and at different times, for different element. Tying them to quarter end each time really misses the mark.

The thing that gives the book teeth and makes it a must read for sales leaders and sales people is not only Cabrera’s own extensive experience in the field of sales incentive and incentive management. But more importantly, the volume of data that is available to him as a result of the work Xactly does. The ability to leverage the empirical, anecdotal and other elements give Cabrera, the book, and by extension the reader, an unparalleled level of insight into incentives, and doing it right.

What’s in Your Pipeline?
Tibor Shanto 

Social Selling is Just Good Selling – Sales eXecution 2440

By Tibor Shanto - tibor.shanto@sellbetter.ca

Last week I had the honour of placing in the top 10 of the 30 The Top 30 Social Salespeople In The World.  But more than ever before it highlighted the need to unhyphenate sales, and focus on those things that make sales people good at what they do.  I can’t speak for the others on the list, but I do not see myself as a social seller, but as a sales person who takes the profession seriously, and as a result of that commitment use every available tool to communicate with my market, and deliver avenues and means for them to achieve their objectives vis-à-vis their business.

top30socsale

This is why I had some gentle fun with Social Selling’s predecessor, Sales 2.0. These are not just marketing terms, but limiting terms, especially in the hands of the wrong people, especially the pundits. If Sales 2.0 was the label for those who were leveraging Web 2.0 tools and opportunities in their sales, then what number do we assign to those sales people who were early adopters of the first wave of web capabilities, Sales 1.0? What about those of us who jumped on things like portals, the original BlackBerry pagers, Sales 0.0. And what of the sales people who invested in Palm Pilots and green screen e-mails, Sales -1.0. Take to the logical conclusion voice mail in the 1908’s Sales -3.0, answering services introduced in the 1930’s Sales -6.0, etc.

Silly marketing terms that pre-occupy sales people and sell products for those selling to sellers. So let’s unhyphonate sales, especially silly, potentially revenue destructive labels like “No Cold Calling”, “Referral Selling”, “Trigger Event Selling”, and others. These address one small aspect of sales in a very incomplete and ineffective way and serve only to sell a product. This may explain why some were left off the list who are in one light much more “social” than many of us on the list.

I can only speak for myself, but I suspect I was on the list because I love selling, and writing about selling and will use every available tool and means of selling better, these days that includes social. I think if you want to hyphenate sales, there should only be one Good-Selling, everything else is just packaging.

What’s in Your Pipeline?
Tibor Shanto

 

 

Why Set Out For 2nd Prize?0

By Tibor Shanto - tibor.shanto@sellbetter.ca

2nd prize

Every day I work with sales people who start their day by setting their sights on winning second prize, and then celebrate when they achieve it. No really, watch any group of sales people on the phone trying to set appointments, and it is only a question of minutes before you see a few telling you how they convinced the potential prospect to let them have second place, or take their place among the also-rans.

Now I am not sure it is always accurate, but there is something to be said for the saying that in sales “second place, is as good as seventh place.” Meaning only the rep who wins the deal has any bragging rights, and the money, the rest are quickly forgotten.

But seriously, how else can you explain sales people doing the following.

They get on the phone, get their indented target on the phone, who tells them “we’re all set, we already have a provider (insert your stuff here), thanks for calling though”. To which the sales rep responds “Well, maybe I can send you some info, and if you ever need a backup…” Sometimes it is a variation on that theme, their whole approach is to get permission to send information to the potential prospect, and then ask for permission to call back to follow up. I mean I could find it interesting if they asked for an appointment to review the material they send, but to ask for permission to call back, don’t we all know what will happen when they call back:

A.   They end up in voice mail, they don’t leave a message, or leave the wrong message; no call back, couple more tries and then they give up
B.   Mysteriously, despite improvements in technology, the prospect did not receive what they sent
C.   The prospect hasn’t had a chance to read, but will, and asks you to call in a week
D.   All of the above

Notice what one of the options wasn’t, that’s right, an appointment, which what the objective is, first prize!

Knowing how to handle objections is one thing, and if you download our Objection Handling Handbook, you’ll know how to handle the two above, (all set, and send me stuff), as well as the most common you are likely to face on the phone. But where most fail is in their attitude, which is really just a symptom of their preparedness and commitment.

While the reality is that most people you speak to will not meet with you first try; it is also true that often that first call is a chance to introduce yourself and initiate a process that may involve a number of calls before you have built enough rapport to have them take a meeting. But it is also true that that should be what you settle for, not your intent going into the call.

Assuming, (not always safe I know), as a seller who values their time and is intent on exceeding quota, you have at least minimally qualified the person and the opportunity before you picked up the phone. The company meets your criteria, you done some background work on the company and the individual you are calling, checked out their social activity, and have prepared for the call. If so, then you objective for the call is to get the meeting to initiate the sale, anything short of that is not a win. And that needs to be the attitude when you are on the phone – you and I need to meet, we’ll both get value!

Not only will that attitude come across on the phone, but it will inform what and how you present things to the buyer. Everything you say driving the need to meet and talk further, that you can add immediate value to their ability to meet their objective. Not in an overt way, but very specifically challenging the prospect to meet, and remember challenge like provoke can be done in a very positive way, it need not be a negative. But most sellers are so scared of the phone, so scared of rejection, so unprepared, they see any permission to end the call as a good one. The difference between the winners and the rest, is that the winners see the meeting as the only good outcome, while the rest want to get off so fast that they see the right to send, second prize, as the best way to achieve their objective, which “How fast can I get off this call without hearing no? Send you some stuff, sure that works, thank you.”

“Hey Boss, I looks like they’re interested, I am putting it at 25%!”

What’s in Your Pipeline?
Tibor Shanto 

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