Snake oil

“Fake Sales News” Lead To Fake Sales!4

By Tibor Shanto – tibor.shanto@sellbetter.ca 

We here in Canada have not been spared the phenomenon of fake news, although we are still working on making it the art form it is elsewhere. Sure, you’re all thinking about the fallout from the election in the former colonies to the south, but I am speaking even closer to home, specifically the fake news making the rounds in sales circles.

Who hasn’t mistakenly (or just through sheer curiosity) clicked on a Never Cold Call Again link. The experience was usually based on the bias the person had long before they clicked. Those who have a serious fear factor when it comes to picking up the phone, felt their inaction would be validated, and those of us who have made loads of money smiling and dialing, see these sites or posts as a source of amusement in an otherwise productive sales day, selling to people we cold called.

The problem with fake news, sales or political, is it is all amusing when it stays on the web, where it can be a source of entertainment for some, or a source of excuses for others.  But when these fake posts and articles begins to ooze into the real world, it costs people sales, their jobs, drive companies to bankruptcimpacts the economy, and the next thing you know we need to cut interest rates again. As with political fake news, these posts are full of repeatedly debunked, but the peddlers of fake news, political or selling, have mastered the mantra of “let’s not cloud the issue with facts.”

For example, many “cold calling is dead” proponents regularly point to stats that suggest “social sellers” convert and close more business by a factor or XX%; while at the same time pointing to the low success rate of cold calling. Now I don’t have counter facts, mostly because I am busy working with sales people who work for people I cold called. When you live in the real world, you have the advantage of experience and the ability to evaluate facts as you see them, not vicarious stats and experiences.

Snake oilI share another recent experience as an example of fake news and fake sales. I visited a sales leader a few weeks ago, (using a combination of social selling and traditional selling, I think those of us who do not have a social selling book or webinar, just call that selling). A few minutes in to the meeting he asked what I thought about “social selling”, I told him I see it as a part of a big tool kit, and that while I do not label myself as a social seller, I was 8th on the list on forbes.com.

He then told me that he had engaged a local social selling expert, apparently, they were “world famous in Toronto”. As we explored how the two approaches may be harmonized, he told me that he wasn’t sure about social selling, but he had read so much about, the stats were impressive, and he felt he would give it a try. What he said next was the most telling. He said that he had to try because he was given ‘a real good price because” name omitted to protect the innocent, “was in the process of collecting logos, and made it real cheap.”

And so there we are, fake sales. Because there is a difference between selling it, and socializing it before you give it away. And so once again it is about the revenue, not the sale, because this fake sale, much like the fake news that are void of facts, this fake sale had no revenue.

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Richtung Pfeil

A Sweeter Approach To Prospecting Success4

By Tibor Shanto – tibor.shanto@sellbetter.ca 

As we head in to the second half of the year you realize you need to prospect and get some more opportunities in your pipeline. As you seek advice from your peers, one veteran tells you “You gotta buckle down and make more calls”, sage advice from someone who is under quota. Then you turn to a younger colleague and ask, not direct but by text, what she does, she tells you “OMG, get in to the 21st century, forget that calling stuff, you need to be a social seller.” But looking at the leader board, she is not making quota either. The guy at the top of the board, the one you really want advice from, is out of the office, making quota.

Forget the “us and them” of the chattering class. Stop being conflicted, stop wasting time and brain cells, do what the silent successful minority is doing, Reese’s Selling, where they combine the best of many viable selling approaches to deliver more than any can on their own. Safe, easy, tasty and quota satisfying!

As with most things in sales your only limits are your imagination and willingness to execute.

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not taught

Keenan brings you what’s Not Taught!0

By Tibor Shanto – tibor.shanto@sellbetter.ca 

not taught

Book Review

I have often said that the best books for sales people to read if they want to succeed and grow their game are not sales books. Understanding how sales impacts and is impacted by all elements of the real world is key to continuous success. As the “real world” changes, going beyond sales books in order to succeed in sales is a not just a no-brainer, but a survival requirement.

This is why “Not Taught: What It Takes to be Successful in the 21st Century that Nobody’s Teaching You”, by Jim Keenan, is a must read. A must read not just for sellers, but entrepreneurs or anyone looking to succeed in today’s business environment.

What we’ve done in the past is will not be enough moving forward, and certainly not enough if you want to do more than just move forward, but win forward. The information age is changing how people find, evaluate, engage and hire people. By reading Jim Keenan’s new book, Not Taught: What It Takes to be Successful in the 21st Century that Nobody’s Teaching, you’ll learn how the success game has flipped upside down and what it takes for you to win in today’s game. Jim unpacks unique and powerful ways to connect with larger audiences, wield greater influence and win in the 21st century.

While some will want to suggest that this book is for people of a given age or older, it is not. It is for all people looking to improve the way they approach business, sales, and more. You will benefit from this book if you are over 40 or under 30, whether you are a digital native or digital immigrant. The focus is improving how you get things done, not where or when you started your journey. Demonstrating your expertise and right to be called a thought leader cross all these labels.

The book is full of examples, so unlike other books that raise concepts and then let you down by not following through, Keenan does just that. Giving the reader examples and way to apply the topic so you can get more than just a good read, you can succeed in ways you may not have tried before, then encouraging you to continue and go further.

This is not bookshelf decoration, you know, like all those books you bought, read it once and now sit on your shelf forever. This will become your constant companion on the road to success, not only because of what you will learn and use, but because Keenan’s energy comes through, and you’ll reach for the book just to get a hit and re-energize you for your next success adventure. Buy two copies and save on shipment fees, you’ll revisit it again and again, and will soon ware out you first copy.

Tibor Shanto

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4 Ways Social Media Can Help You Sell3

Pic october 15

The Pipeline Guest Post – Megan Totka

An essential part of the sales process is getting to know your prospects and building relationships – and social media is the perfect avenue to help you accomplish this effectively. Social media is a really powerful tool to help you accomplish your business goals and can open you up to new markets you may otherwise not have the ability to reach. It’s also an inexpensive way to market your products, services and brand – and small business owners always want to know ways to build a business on a budget.

So how can you use social media to make sales and increase your bottom line? Consider these four ways to help you leverage social media as a way to build relationships and make more sales.

Determine the best way to connect with prospects.
Prior to using social media to make sales, you need to know your client base. Social media is only a smart selling tool if your clients and prospects are using it. I they are spending their time somewhere else, social media is a waste of your time.
It’s likely your prospects are using at least one of the popular sites though, so try to identify which is the best for connecting and interacting with them.

Consider Instagram and Pinterest to increase visibility and sales. Do more than simply post about your products. Engage with the community, present products in fun ways and offer images and posts that appeal to the lifestyle of your prospective user too.

Build relationships.
Everyone wants to know some ways to get more appointments in less time. Salespeople need to always remember that they need to develop relationships more than to develop leads. Good relationships foster sales. Statistics from the National Sales Executive Association show that only 2 percent of sales are made on the first contact, while 80 percent are made on the fifth to twelfth contact. People share information about themselves, and if you truly listen to what they are saying, you will eventually engage in a meaningful conversation with them.

Engage in conversation.
If you write a message with a generic pitch and a link to your website hoping for a sale, you better not have all of your eggs in one basket. People aren’t interested in sales pitches. They want to know you care. Explain some solutions to their problem and suggest that maybe your product or service can help them. Let people know you genuinely care about their problems.

Another way to do this is by creating a Facebook group related to your product or service and invite prospects to join. You can engage in conversation on your page and talk with members who are active in your group. Always share good content, it will spread easily and increase your visibility with new leads.

Create a persona.
Make sure you are active within your community. Identify who you are and make sure you show others that you are likeable and trustworthy. If people think you are rude or not helpful on social media, they won’t do business with you. Don’t misuse social media. Show your network that you are a loyal and helpful resource and engage with your customers and the expectations of the community.

Remember that in order to succeed, it is key to cultivate relationships. Social media platforms are an excellent place to share more about your business and engage your prospective customers. Take time to listen to and engage your audience and watch your conversions grow.

How do you use social media to increase your bottom line?

About Megan Totka

Megan Totka is the Chief Editor for ChamberofCommerce.com. ChamberofCommerce.com helps small businesses grow their business on the web and facilitates connectivity between local businesses and more than 7,000 Chambers of Commerce worldwide. She specializes on the topic of small business tips and resources and business news. Megan has several years of experience on the topics of small business marketing, copywriting, SEO, online conversions and social media. Megan spends much of her time establishing new relationships for ChamberofCommerce.com, publishing weekly newsletters educating small business on the importance of web presence, and contributing to a number of publications on the web. Megan can be reached at megan@chamberofcommerce.com.
Website: www.chamberofcommerce.com

Photo credit

 

The Last Secret In Sales!3

By Tibor Shanto – tibor.shanto@sellbetter.ca 

the last sales secret 2

I love reading articles, books, and all things sales. Some I read to learn, others for pleasure – some people just write well; and then there are those that I read just to see how badly I disagree with the writer and their views. Among these my favourite by far, the ones I read for a laugh, a good deep belly laugh, are the articles that usually have headlines such as “The Secret to…”, where the author wants readers to believe that they have discovered or uncovered THE SECRET element that will forever demystify sales and selling; along the lines of Edison’s light bulb. As though before reading the piece we were stuck in the dark ages, having to make wick and gather wax to make candles, then rub sticks together making fire to light our candles. But now, thanks to this immensely generous pundit, finding prospects and closing sales will be as easy as switching on the light. I know that when they wrote the thing they did not intend for me to giggle, but making the reader laugh is usually their only redeeming value.

(Photograph: Allstar/Black Bear Pictures/Sportsphoto Ltd.)

Pieces that read “Cracking The XYZ Code”. Every time I see a headline like that, I get out my life size cut out of Benedict Cumberbatch from The Imitation Game, and an

Photograph: Mail Online

autographed photo of Dan Brown, eagerly anticipating a life changing experience. After all, I can picture the author, having made great sacrifices, suffered through the process of cracking the “whatever” code, now sharing it and liberating mere mortal sellers from their toil.

Over the years pundits have offered secrets, incantations, amulets and more, yet the output seems to be steady, with no significant improvement in the pace of revenue growth, margins growth, and the number of reps attaining or exceeding quota.

Now you can’t blame the pundits, they are in the business of selling books, and as long as there are buyers, there’ll be someone cranking it out. I remember one of the big disagreements my co-author and I had was over unnecessary, stupid, misleading and not factual statement on the cover: “There is a sliver bullet in Sales”, no there isn’t, and anyways, what hunting, werewolves or revenue?

Add to the above the magic of technology, and you have “stupid” automated. This not a comment on the quality or worth of the technologies, but the stories spewed by some who will lead you to believe the technology will change and improve your selling and sales results. It is a lot like fitness fads and ab machines peddled by former athletes or fitness wannabes. You still need to eat wisely, commit to a program and find the discipline and accountability to execute an ongoing and evolving plan.

The pattern is familiar, sellers jump on a trend, acquire the related consumable, but don’t change the way they execute in the field. After a few weeks of effort, and only minor uptick in results, the ab machine or sales tool or methodology ends up in the closet or under the desk, and it’s back to how we sold all along.

Change, long term sustainable and ongoing change, takes effort, and commitment. Often a greater level of effort than many have had to commit to in the past. The other element required that many don’t want or have access to, is support, just as with fitness programs, people who commit to a health plan and engage a professional trainer or fitness pro are more likely to not only succeed, but maintain the new discipline, than those who go it alone.

It is also important to remember that improving your selling is best achieved by building and adding to your skills and tools, not by narrowing, restricting or limiting your tools and techniques. The problem with SECRETS and CRACKED CODES, is they seem to need to displace or “kill” other methodologies that came before it. Witness the need by “Social Sellers” to start all discussion by saying “cold calling is dead”. The best sellers I know take from all methodologies and piece them together in a way that enhances and expands their skills, opportunities and sales.

So here is the last SECRET in Sales: There Are No More Secrets!

It’s all out there, all that is left is to execute. Some find it easier to blame the last fad, the latest technology, the new app, anything but the fact that we don’t do, or want to do certain things that have to be done in the course of a sale. This is no secret, but success in sales is less about methodology or tools, or attitude; success in sales is about execution – everything else is just talk.

Tibor Shanto    LI Bottom banner

LinkedIn Serves Up Catholic Like Feature2

By Tibor Shanto – tibor.shanto@sellbetter.ca 

endorsed 2

People always seem to be looking for a means to repent and ease their guilt. Whatever the cause or underlying motivation, people feel better when doing something, even if it is not the right thing for the wrong reasons, acting gives the illusion of accomplishment. So when it comes to sales, social media offers an outlet more immediate and less demanding than going to a confessional, when they know they have wronged and are feeling guilty.  All with the added bonus of being socially impersonal.

I look at this phenomenon as the sales equivalent of “slacktivism“.

I came to learn about this from a rep I am working with. He highlighted that a prospect had missed a scheduled call, one agreed to during the last meeting, invite accepted, and specific to the deal at the time. When he called as scheduled, he did not get a response. But the very next day the prospect in question “endorsed” said sales rep for two sales related skills on LinkedIn. Brad thought this just to be a coincidence, but saw it happen in other instances. He mentioned that he met someone at an industry event, the usual “ya, this is what we are looking for, definitely give me a call.” Follow up – no response; a few days later, follow up – no response, voice mails left on both calls, with return number. Lo and behold, a couple of days later, a LinkedIn endorsement.

I have always been flattered when I get LinkedIn endorsements, making a mental note, occasionally reaching out, but never looked for the correlation Brad mentioned. But, since it was brought to my attention, I have seen that I too have been a victim of this “social confessional”, a cleansing of guilt brought in when folks don’t follow through on commitments.

I say “social confessional” for two reasons. First, as people use social outlets to communicate things in a way different than the past, it only makes sense that it would creep into their communication of their guilt for not following through on their commitments, and in to their communication with whatever deity they hide behind when they mess up. So why make the trek down to the local church, just give them three endorsements, a “social” form of three Hail Mary’s and a candle. “It’s not like I ignored you, dude, in fact I endorsed you, three times man, let it go.”

The second reason, well, these days you stick “social” in front of any old thing, and it’ll just seem hipper.

So Catholic, or not, even atheists, can now endorse and move on with their day, without the bother of being accountable for their commitments. The Church can learn something here.

Tibor Shanto    LI Bottom banner

Kill The Cold Call™ – Ep. 4 – Sales Psychology, Tactics, & Technology (#video) – Sales eXecution 2960

By Tibor Shanto – tibor.shanto@sellbetter.ca 

TV Head

No, I haven’t lost my mind or support for cold calling, just doing my bit for the cause: better engagement with buyers.

At first I was a bit surprised when Andrew Schiestel invited me to be part of his webcast series, is this an ambush, an attempt to slay the noble art of telephone prospecting? It was anything but, Andrew led a fine discussion on all aspects of sales and prospect engagement. You can catch a clip below.

You can take in the whole episode at: https://youtu.be/FZeDmON_Bdc

Tibor Shanto     

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PPA Ad 1

Do You Have Sellers or Pageant Contestants?0

By Tibor Shanto – tibor.shanto@sellbetter.ca 

Happy to be a business leader. Cheerful businessman with outstre

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

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

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

The headline for the event read:

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

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

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

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

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

Tibor Shanto

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Forget Social Selling, and Sell Socially2

By Tibor Shanto – tibor.shanto@sellbetter.ca 

Doodle social media signs

There are two trends unfolding of in sales which to date have accidentally intersected, which should be proactively encouraged and facilitated by B2B sales organizations. The first not so new, but gaining and likely to continue to gain momentum in the coming years, is the migration by many to inside sales teams, especially types of sales that only a few years ago may not have been seen as feasible for a number of reasons. However given the advances in technology, specifically web meeting and collaboration related apps, it is now more economical, and often leads to a more effective exchange between buyer and seller. Beyond the cost factor of time for both, including travel time for the seller, sharing screens can not only allow for a more thorough exploration of issues, but there is also the ability present your product in a more fluid and contextual manner, without coming across like a heavy handed demo.

The second is newer, although given the incessant hype it just seems like it’s been hanging around for ever, is social media and social applications. While many struggle to define social selling, often resorting to contrasting it to “traditional” selling, most applications are not really new, just executed using new tools.

Taking advantage of social tools and a social approach does present an opportunity compensate for some of the differences between selling face to face, and selling remotely, I would go as far as to say you can fill or avoid some potentially risky gaps in inside/remote selling. Specifically the type of social interaction that directly occurs when you interact with people directly. Not so much between the seller and those people directly involved in the steps of the buy/sell, but more importantly the supporting cast. The receptionist, the EA, the tech support person who helps you when you are visiting.

Visiting being an important concept here. It is no surprise that many “old timers”, regularly interchange the word appointment with visit. There is a lot of to be gained via the social interactions that can be gained while “visiting”.

There are whole bunch of conversations that will never take place when selling remotely that are just part of a visit to a prospect or client. These conversation may not always pertain to the product, or the purchase itself. In fact many of these conversation will happen with people who are not part of the process, but are tuned in, and in a number of ways that sellers can find valuable and move the sale forward. Small talk can add up to a lot.

The social fabric of a company, and the social fabric of the sale is an important component. Especially in an economy where products are interchangeable, but where people are not. In an economy where many senior leaders are more likely to choose one product over another primarily due to consensus among “the group”. The buying group, the user group, the implementation group, and others. Often this consensus is driven by things other than specs and features, and more by things that evolve out of “social interactions”; you know, people buying from people. These secondary relationships are often the little things that give you an edge over a competitor, the ability to influence just a bit more.

So what happens when the opportunity for small talk and hallway conversations is gone? You turn to social. There is a host of information one can glean and utilize to make up for not being there. The art then is to leverage it during the sale. And while most sale people are good at doing this face to face, the phone limits their focus. But there is no reason you “have to rush by” the receptionist just because you are on the phone. It is up to us as professionals to “humanize” the remote selling experience for all parties.

Even if you have your “targets” direct number, there is no reason you can’t hit zero and speak with the admin or receptionist, you’d talk to them if you were there, it is up to us to “be there” even when remote, and you can do that by learning more about them from their Facebook page, tweets, Pinterest, and host of other sites that give you a window to the non-business person. LinkedIn can help you connect the dots between the players, I learn more about the person on other platforms. There is no law or reason why you cannot incorporate this into your selling, and make up for the lack of being there, change something potentially impersonal to something more personal, for the people at the prospect company, and for you. In fact you can bet that they are checking you out the same way, and making assumptions and decisions based on these things.

So while social is great for the current lead gen and sale, it has loads more value and application in actually preserving and enhancing the social side of any sale.

Why Are You Trying To Kill Me?7

By Tibor Shanto – tibor.shanto@sellbetter.ca 

Horrorfilm

Said the Cold Call To The Socialite.

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

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

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

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

Let’s Spin Some Stats!

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Kumbaya Time

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

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

That’s my two cents, what about you?

What’s in Your Pipeline?
Tibor Shanto 

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