You’re Great At What You Do – But What You’re Doing Isn’t That Great0

By Tibor Shantotibor.shanto@sellbetter.ca

first prize

One of the things that makes great sales leaders great, is their ability to delicately balance various and at time juxtaposing dynamics in sales.  One of the more subtle but potentially very impactful of these is in achieving structured change and improvement in the way their organizations and individual sales people sell in changing environments.  Specifically the need to do the right things through the sales cycle, and – executing those actions well.

The challenge is to strike the balance between doing the right things and doing those things consistently better.

Organizations should be striving to create an environment and process that evolves with the demands of the market, which by definition means a continuous evolution in the way buyers buy, and the way sellers sell.  This does not mean daily or weekly changes, nor does it imply dramatic change, but over the course of time, say over 12 – 24 months there will be clear differences and movements in your buyers’ expectations, at times even the buyers themselves, and in the way your product is sold and how your sales reps interact with the market.  This in turn means the way you need to sell, the “right things’ you need to do and execute to win sales, will also change.

While this change or evolution is desirable and good, it does impact the other side of the scale, the “doing things better” side. Just as you begin to make progress on one skill set, or element of the sales process, change happens, making improvement a challenge, although not impossible.   The reality is that improving sales skills is not an overnight process like many try to pretend, as a result it is entirely possible that just as you gain competence and confidence in a given skill, the market will require that you change, and acquire additional skills which will take time to learn and master.  Starting the cycle over again.  This is why the difficulty in achieving a balance between doing the right thing and doing it better.

Companies deal with this in a number of ways.  Some choose to adopt core practices, and then spend time ensuring that their teams are improving their execution over time.  The up side, better execution, the downside, the skill is no longer relevant or revenue generating.  For an example of this, just look at the experience of those in industries moving to managed services from a previous product or similar sale, look at IT or print as an example.  IT players spent years perfecting the break fix sales or solution sales, when everything changed, from the buyer to the way they sell to that buyer.

Others will send individual sales reps to different programs provided by different third parties.  Some have told me that this allows for different ideas, and these will be shared among their team.  Interesting concept, I have yet to see it implemented well, and usually leads to many inconsistencies as a result of disparate inputs, certainly makes it hard to have a cohesive process.

One company I know invites a motivational speaker each year, their goal is to “pump up the troops, provide a little magic, and set them loose”.  While this may be fun, a 60 minute “motivational” presentation at a kick-off meeting, is a lot like cotton candy, sweet, fun, little nutritional value, and does not last much beyond the sugar high; it gets some laughs, some one-liners you can throw around the rest of the year, but does little get people to think, and does not ensure adoption of newly required skills.  Without adoption, there is neither improvement nor change, especially for adults who already have day jobs.  A consistent focus on adoption leveraging practice and a follow-through process, including a series of hands on sessions extended over a period of months, as we do with our programs, will drive adoption, which results in a change in how people sell.  Once you get them to implement, then you can work on helping them do it better, but again, shifts in market expectations.  But the reality still remains that just as they do it better they may be required to change.

One thing we do with our clients is to shift the focus of the sale, getting them to look at and focus on the buyer’s objective over other things, such as solutions.  The challenge in focusing on solely on solutions, is it leads to sales people running around the country side, where everyone they run in to looks like a problem that is right for their solution.

Many buyers have much greater clarity about where they want to go, their objective, than how they want to get there, the solution.  By changing the focus of the sale, you not only get deeper and better engagement, but you can adopt a specific interview style and process that drives engagement around the buyer’s objectives.  This creates a sort of “pull-through” effect, as the markets and individual client’s objectives evolve and change, so does the way you sell, and meet those newly evolving requirements.

Beyond the many benefits of putting their objectives in the bulls-eye, it allows organizations to create a real balance between getting your teams to sell the right way, while allowing them to execute better before introducing new ways to sell.

What’s in Your Pipeline?
Tibor Shanto

3 Point Summer Sales Tune Up!2

By Tibor Shantotibor.shanto@sellbetter.ca

As part of my monthly column for The Globe and Mail Report on Small Business, this month I outlined three things sellers can do to ensure that not only does summer not need to be slow or a down time, but in fact there are specific things you can do to win business, and set yourself up for the rest of the sales year.

Boost your summer sales with these three tips

This is not an exhaustive list, but it is a start, take a look, comment, let me know what you think.

What’s in Your Pipeline?
Tibor Shanto

What Makes You Different?2

by Tibor Shanto – tibor.shanto@sellbetter.ca

crowds

People always want to present themselves as being unique or different, even as they are lined up overnight for the latest iGadget, all adorned in the latest gadget-ware from Fashion Star.  So I am rarely surprised when sales people tell they or their products are different.

I recall meeting with a VP of sales from a software company, the latest killer app, and while he agreed to take the appointment knowing what I do, it seemed his objective was to validate how their product and sale were different than anything I had seen to date.  If I had $10 for every time he said “Tibor, you have to understand we are different, our product is different, and our sale (process) is different”. While I am not qualified to comment on the nature of the software, I had to ask about the sale of their software.

Me: Am I right in thinking that all your reps are all delivering quota?

VP: No, we have a couple that are, some just below, about half haven’t hit goal for the last couple years.

Me: So let me see if I understand Harvey, your people don’t have to prospect, leads and prospect are abundant, normally potential buyers are lined up around the block; it’s just because you knew I was coming this morning that you cleared the sidewalk for me?

VP: No, no, no, we need to prospect like mad, we are always looking for ways to get enough of the right prospects in the funnel, we get a web leads, but they need to prospect more.

Me: But once they get in front of the right prospect, getting the buyers to buy into your value prop, and getting to proposal is just a formality, right?

VP: No, we have to do a lot of information gathering, understand their needs, and explain what we do just to get them to actually appreciate what we can do for them.  It’s a grind and a struggle for some of the AE’s.

Me: but once they articulate the value prop, and the buyer gets it, it just goes straight to signature and close.

VP: No, there is a lot of haggling, back and forth, we lose too many sales at this point.

Me: So Harvey, I may be slow, but I am not sure I see the difference.

Do you?  The one area where Harvey failed to differentiate is in the way they sell.  Like other mere mortals, they have to prospect, engage, execute a discovery to find common ground and gain commitment?

The difference is rarely in the product, the difference is in the way you sell.  If leading products have an overlap of some 80% or more in features, capabilities and output, the only way left to differentiate is in the way you sell and interact with your buyers.  If you are no different in that perspective, than there will be little difference in results moving forward.

What’s in Your Pipeline?
Tibor Shanto

Aligning Time Horizons (#video)0

By Tibor Shantotibor.shanto@sellbetter.ca

TV Head

Time is pivotal to sales success, on the plus side, it can help you better engage with potential buyers, and on the down side it can create distance and barriers between you and the buyer.  One specific is the degree in which you are aligned with the buyer’s horizon.  All too often we get ahead of the buyer, or fall way behind, either can slow down or cost you a sale.

Take a look at what I mean, then download our E-Booklet – Sales Happen In Time:

Alignining Time horizons

What’s in Your Pipeline?
Tibor Shanto

 

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  

Short Cuts – Do it Now or Do it Later0

By Tibor Shanto – tibor.shanto@sellbetter.ca

Short cut

The pressure of time, or more specifically, a lack of time, for sales professionals continues to build for sales professionals.   Sales people often ask me for ways to achieve something by skipping steps or finding short cuts for critical steps of the cycle.  Especial when there are specific things that have to be executed in one stage of the cycle/process before you can move to the next; some may not seem important at the time, but are fundamental to a successful sale, and there is no escaping them.  In some ways in sales it is very much like the old Fram commercial, you can do it now, or you can do it later.

In an environment of declining resources and increased demands and expectations, utilization of time continues to grow as one of the most critical skills for successful sellers. Given the choice between someone who is a good seller or a good user of time, give me the time skilled individual any day.  Doesn’t matter how good you are, if you can’t get around to using the skill. Notice I have avoided the term “time management”, because it is never about managing time, but about how we choose to allocate and use time for critical activities; activities are what need to be managed.  In most instances, with all things being equal, it is more likely that you miss deals because you ran out of time, rather than running out of skills.

With all the pressure growing each hour and day into the depleting selling year, it is not a surprise that sellers are always seeking short cuts, or tips to reduce time.  While I understand what’s driving the desire, I would caution you to focus on the objective and desired outcome(s).  Better to look at a sale as an exercise in building.  You need to build a solid foundation before you erect the house on top.  If you rush things, opt for a short cut and start before the foundation is dry, you’re going to have to go back and do it again, do it right, which will cost time, resources and money.

One example is the propensity to present proposal way too soon, long before key facts are uncovered.  I know sellers face tremendous pressure, especially when others are willing to submit at the drop of a hat, but in the end, a bad proposal is a bad proposal no matter how fast you get it in, which why so many come down to price, no foundation.

I was taught that there are five things that have to be in place in order for a proposal to be properly underpinned and solid.  Sure I can submit with only four, but more times than not, I have to go back and resell that missed portion or the whole thing.  Slowing me and the sale down, if not risking it all together.  Again, I know there is pressure, and the other guy is in, but I am will to bet they usually win on price not based on value or the merit of the product or proposal.

The problem with short cuts in sales, is the same as the oil filter, you can do it right the first time, or you can do it later.  Problem with later is that it ends up sucking up more time, money and nerves.

What’s in Your Pipeline?
Tibor Shanto

What’s Improving – Your Sales OR Orders?2

By Tibor Shantotibor.shanto@sellbetter.ca

Bubbling up

As the economy continues to show hints of progress, and business picks up, it is important to understand the nature of the improvements in sales you and your company experience. Taking into account the old adage “all boats rise with the tide”, you need to be able to discern where your growth is coming from.  Is it from increased sales, or just an increase in orders due to an improving economic environment; and yes Sunshine, there is a difference, much like the difference between sales professionals and order takers.

More than ever, having a defined sales process, with supporting metrics is a must. Without that, you may easily mistake increased revenues with improved sales or selling, when in reality the improvement may be organic.  Increased demand, leading to an uptick in orders or improved selling, the two are very different, but often mistaken.

In fact, this is one of the risks of relying strictly on a single lagging indicator – Revenues, rather than a mix of leading and lagging indicators.  In many ways you can look at it the way investors look at interest rates paid on fixed income instruments, where they back out the rate of inflation from the total rate they receive from an instrument to arrive at the real rate.  Think of the organic increase in orders as inflation, and the real rate as YOUR ability to sell more or better in a given market.  All sellers benefit from a rise in demand, only those who focus on selling will grow sales beyond the herd, and get more than their share of growth.  Increased market share is always a good thing.

To avoid being caught, you need understand your intra-sale conversion rates, understanding if in fact you are doing a better job of converting leads to prospects, prospects to proposals and proposals to wins.  By measuring these and other critical points you will know if you are just benefiting from an increase in demand – more leads, or ability to convert those leads.  If you have a 4:1 lead to prospect rate, then it goes without saying that you’ll have more sales from six leads than 4, 1.5 sales vs. 1.  But if your sales and selling skills improve, and you can move to a 3:1 ratio, you’ll sell proportionally more.  This is important in down markets too, but people get fooled in up markets when the wind is in their sails.

Once you understand these measures, you can set goals for theses (or other) conversions from stage to stage, and benefit from the compounding effect, and increase both real and organic sales.  With goals and metrics in place, it is much easier to develop and Execute a tactical plan, you will be in a position to adjust or change your model to ensure continuous growth and skills improvements.

Not knowing can create more than false comfort, it could lead you to make wrong decisions, and by the time you realize, you may be left too far behind the competition.

What’s In Your Pipeline?
Tibor Shanto

Solving The E-Mail Black Hole1

By Tibor Shantotibor.shanto@sellbetter.ca

e-mail

I have always been a fan of Star Trek, and intrigued by some of the possibilities presented in the original and even Star Trek NG.  Interesting how some of the things that seemed farfetched, now are not.  One that always fascinated me was the black hole; little did I think we would experience it in selling, specifically when using e-mail.

We all wonder when we hit that send button “what will happen with this e-mail?”  Will it reach its desired destination will it invoke the desired reaction, what reaction will it initiate, what will its fate be, ignored, read over and over, create action?  Hard to tell in the black hole that is e-mail.

Sure, you can ask for a “read receipt”, so what, the is still an information void because all you know is if the opened it, you don’t know if someone read it more than once, where, if they read it on their phone or office or both, or if there is any interest. For salespeople, this creates “prospect paralysis” because they don’t know whether to follow up and, if so, when and how.

But recently I discovered a tool that helps me have a better grip in the black hole.  ContactMonkey, a new smart email tracking service for Outlook and Gmail that tells me in real-time if, when, how many times and where a message is opened, as well as what device or browser was used.

Armed with this knowledge, a salesperson has valuable and actionable insight to make better and more informed selling decisions and actions, so they can focus on the most promising prospects and opportunities.

The idea for ContactMonkey emerged when Scott Pielsticker, a serial entrepreneur, was frustrated with not knowing if his sales pitches were getting read or were resonating. To solve this problem, ContactMonkey’s developers created the software, which was recently launched.

Here is an example, a seller fires off an e-mail to a prospect.  After the email has been sent, the salesperson will be able tell if and when the email has been opened, which is a great starting point. The more the message is opened, the more interest someone likely has in the proposal.

But there’s even more insight that can be gleaned. Where was it read, what device was it opened on.  ContactMonkey allows you to know if a message was opened on a mobile device, within the Chrome browser or Outlook. If an email is originally opened on an iPhone, and then opened on Chrome or Outlook, it could mean the e-mail and or any attachments generated solid interest.

The same approach works for location. An email opened by recipients in Toronto, Boston and London is another indication of good interest.  Especially if you are working with prospects with decision makers in multiple locations, as it makes its way around you gain insight.

For salespeople, this information makes it easier to focus on better prospects interested in their email, while they can quickly ignore or reformulate plans for prospects that paid little or no attention to their email.

For “warm leads”, you can figure out the best time to follow up. If there’s a lot of interest in a message in a short period of time, the salesperson can strike while the iron is hot — knowing that they will likely get a good reception.

ContactMonkey allows you to add a new layer of intelligence to email so salespeople — and other people who want to know if their email attracts any interest — can work better, more productively and close more deals.

I speaking with the team, they tell me they are planning to add a dashboard to let people take a holistic view of their email activity to extract key trends and best practices.

If you are a seller and you want to get more out of your email, check out ContactMonkey and see how it can help you Sell Better.

Please note – I get no commission or compensation from ContactMonkey.

Enter the Art of Sales Contest – Win Tickets

What’s in Your Pipeline?
Tibor Shanto

Plan Z – Sales eXchange 1831

By Tibor Shantotibor.shanto@sellbetter.ca

target

I think (hope ) it is safe to say that every seller, especially B2B, has a Plan A.  A road map or process for how they plan to engage with a buyer, and work with them to mutually navigate the buy and sale process to arrive at a mutually beneficial situation, each party attaining their objectives.  Having said that, I still see many who wing it.

What surprises me is the number of sales people or organizations who have a game plan or playbook, that is totally one dimensional in nature.  It starts by completing a pastel coloured sheet, same info, same way, every time; some have a Plan B, they go to it based on the push back to Plan A.  Now this would not be a big problem if you are selling a commodity, in what can be described as a “binary” sale, but it is an absolute killer if you are selling anything that involves more than a price decision.

Rather than using a “plan” or playbook approach, it is more effective to use a mind map approach.  This allows you to evolve with the buyer as you uncover facts, opportunities and aspirations.  You can use Plan A to engage, and begin the process, but as each client is different (in big or small ways) you need to adapt rather than try to get the client to fit the plan or playbook.

The way to achieve this is to commit to two basic disciplines.  First, is to commit to reviewing all sales transactions you are involved in, whether you won them or not.  This will allow you to anticipate broad and narrow trends,  and adjust your game in real time.   Think of this like watching the game tapes.

To support this, you need to adopt the practice of follow through questions, not question, but questions.  Most sellers tend to stay narrow and shallow, they hear something that sounds like what they need to hear, and they go with it.  But if you develop the skill to ask several layers of “impact questions”, you not only get to the root of the opportunity, but differentiate yourself from those who stop at the surface or layer two.  Combined these give you the grounding to go beyond what you practiced with on the nice coloured sheet, while not meandering, because in the end you still need to bring home the revenue.

Mind mapDiscipline is one thing, rigidity is another, this is why we introduce the concept of fluidity.  Visually it may be easiest to think of this approach as a three dimensional “Sales Mind Map”.   It forces you to think, anticipate and respond based on client input, while leveraging market and sales experience.  It allows you to not only have a Plan A, Plan B, but a method for having options that may take you to Plan Z, all based on the buyer’s objectives and requirements.

Enter the Art of Sales Contest – Win Tickets

What’s in Your Pipeline?
Tibor Shanto

Who Is a Better Closer? – Sales eXchange 17946

Don’t look around in your office for the answer, look at your prospects.

Who is a better closer, you or the buyer you are facing?  In most cases the argument can easily be made that the buyer is a better closer.  In more cases than not, they end up achieving their objective more than you do.

In the case of active buyers, those in the market, reaching out directly to sellers, or actively seeking input from their peer network; or passive buyers – those buyers who are not actively looking but are no longer happy with their current situation, making entrees into the market, searching the web for “what’s out there”.  The buyers are usually the better closers, simply by closing you on the fact that they have other options, and unless things are done entirely on their terms, you’ll lose the deal.  The more one capitulates here, the clearer it becomes that the buyer is closing the seller on the deal they want.  Discounting is an issue in most verticals, either you close the buyer on the value you deliver, or they close you on what you have to surrender to win the deal.

In circumstances where there is no deal, either because the buyer bought from someone else, or decided not to make a decision, again the buyer was the better closer because they closed themselves on not buying, where the seller was not able to close them on buying.  Assuming you were truly convinced that they had a need, and you qualified them, and they didn’t buy, they were the better closer.

Where sellers seems to be much better closers are with those buyers commonly called as status quo.  Where the seller was able to engage in a proper manner, meaning not waiting around to be found by someone with preconceived ideas and price points, but engaged as two peers around a common opportunity.  This involves a proactive approach by the seller, doing the research as to who is in a position to benefit from their offering and engaging with them as a potential means of achieving objectives, not as a latter part of a buying process that started long before the seller was aware.  Where the seller takes the initiative rather than the buyer, the odds are much more even.

The reason for this is obvious but often overlooked.  In the end, it is not about the close but everything that precedes it.  All the elements of the EDGE Process; beyond the research, it is the prospecting Engage long before the buyer goes to market; the Discovery to help confirm the buyer’s objectives, and build value through a collaborative process that encourages the buyer to be part of the process – and part of the outcome.  Leading to the point where you Gain commitment based on the mutual definition of value, and then of course Execute together with the buyer.

The ability to change the focus from close to outcome allows you to help more clients close on you.

What’s in Your Pipeline?
Tibor Shanto

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