MKTG 377 Final Exam
Are All Sales Prospects Created Equal?
NO! - You Need To Target Your Search For The Right Prospects
Specific Planning of Questions
Plan your questions in sequence to gain information in a logical order. ! Predict possible answers to your questions so you are not left wondering what to say next. ! Prepare transitions from every possible question into the next.
SPIN Works Differently Based Upon Your Social Style and The Social Style Of Your Prospect
-KNOW YOURSELF & CONTROL YOURSELF -TALK LESS & LISTEN MORE -NOT ONLY MUST THE SALESPERSON UNDERSTAND THEIR OWN SOCIAL STYLE, BUT THEY MUST ALSO UNDERSTAND THEIR PROSPECT'S SELLING STYLE WHEN USING SPIN -ANALYTICAL PROSPECTS MAY WELCOME THOSE TYPES OF QUESTIONS SINCE THEY DEMONSTRATE THE THOROUGH APPROACH OF THE SALESPERSON -EXPRESSIVE PROSPECTS MAY BECOME BORED AND IMPATIENT WITH MANY OF THE SITUATION & PROBLEM "SPIN" QUESTIONS. THEY WANT NEED-PAYOFF
OPEN-END QUESTIONS
-Identify a topic, but do not provide structured answer alternatives -allows the prospect to move in any direction -cannot be answered with "yes" or "no" -Designed to stimulate the prospect's thinking and increase dialogue -help determine dominant buying motives (rational or emotional) -uncover the social or behavioral style of the prospect
gosite Company Initiated Prospecting
Implemented for a variety of reasons & objectives ! Telemarketing / tele-response, email solicitation and email response activities by less experienced sales personnel (SDRs - Sales Development Representatives,) will generate new leads for the company... ! This team approach towards lead generation allows the more experienced Account Executives (GOSITE: Product Specialists) with an opportunity to close the sales (this is a much better investment of their time and expertise) ! This prospecting method / turnover also provides great "skills training" for junior sales people to better understand how their business operates and the sales cycle, before they are promoted into the AE or Product Specialist position
Dressing For Success During COVID
You Can Dress Appropriately From The Waist Up... Dressing for a Remote Interview: Dress as you would for an in-person interview to feel more confident (try to avoid bright and flashy colors). Wear your video interview outfit during a trial run to get feedback from friends/ family members about how it looks on screen
When is the best time to call a prospect?
You should CALL when you have the BEST chance of reaching them.
Cold Calls, Emails, Voice Mail & Gatekeepers...
You've Got To Stay Upbeat & Be Persistent
Sources of Pre-approach Information- INTERNAL FACTORS
• Always in the control of the Salesperson 1. Ask other salespeople in your company (about their prior experiences) 2. Check out the prospect company's newsletter, website, annual reports... 3. Ask your current customers do they know anyone there? (use caution) 4. Make a Personal visit / cold call (use your powers of observation) 5. Talk to their people (why not?)
The Proper Greeting-What's in a name?
"That which we call a Rose by any other name would smell as sweet." ! Not when it comes to meeting your prospect and pronouncing their name correctly and remembering all of the details 1. Pay attention - get it spelled and pronounced correctly 2. Concentrate on a person's memorable characteristics 3. Associate - any gimmick that works 4. Observe and visualize 5. Repeat the name often RESPECT YOUR PROSPECT Learn How to Pronounce Their Name Correctly
Determine HOW Your Prospect Makes Their Buying Decisions
About their Buying Center A. Who is / are their actual decision maker(s)? B. Who influences the purchase process? C. What are the backgrounds and personal interests of each person involved? D. Can our services help this company's staff develop additional expertise, credibility or success that further distinguishes us from competitive companies? E. Networking: Does anyone in our company (or that I know,) know anyone in their company?
A Skilled Salesperson Even Learns To Prospect Their Own Prospects & Maximize All Of Their Sales Calls
As long as your interaction with your prospect is positive & sincere, you should ASK them if they can recommend potential prospects to you, even if they themselves are not buying your product or service
Getting Stoked To Make That First Call
Be Enthusiastic, But Probably Not This Intense
At GoSite Qualified Prospects Must Pass BANT
Budget Authority Need Time-line Whether its MADDEN or BANT, it is essential that a salesperson focus their time wisely on finding qualified prospects who meet their company's sales criteria
Using CLOSED Questions
Closed-End Questions (Structured alternatives, multiple choice type): ! Uncover specific facts ! Reduce prospect tension because they are easy to answer ! Check understanding and receive feedback ! Maintain control by directing the flow of conversation ! Reinforce prospect's commitment to a specific position Simple - YES, or NO answers... Used alone, Closed-End Questions will sometimes LIMIT the Salesperson's ability to obtain relevant information
A "Kick-Butt" Prospecting Email That I Just Received From One Of Your Fellow Students
Creative Subject Line Gets right to the point Creates Credibility About Himself Compliments Me & Explains Why He Is Reaching Out To Me Flexible To My Needs & Bribes Me With A Free Coffee (he has done his research)
Another Downside To "Traditional"Cold Calling
Getting "Jacked Around" by other salesmen "BOILER ROOM"
Networking Through Civic Groups
DON'T JOIN FOR THE WRONG REASONS!! 1. Carefully select the groups you join based upon your genuine interests 2. Work for positive visibility 3. Set contact goals for each organization meeting 4. Maintain an information file on the contacts that you've made in each organization 5. Set "re-meet" goals to help you develop closer relationships with people 6. Look for appropriate opportunities for further business-oriented discussions
Cultivate Prospects Who Pass the MADDEN Test
Money Approachable Desire Decision-maker Eligible Need
Some Ways To Optimize Your Presence & Networking Opportunities At Virtual Tradeshows & After
DURING COVID... Even more than at traditional Tradeshows, you need to really stand out to be remembered...SOME TIPS 1 - Use Hashtags to connect with other individuals sharing your specific interests 2 - During the viritual tradeshow, exhibit behavior that lets other attendees know that you are ready to engage - Be proactive 3 - When posting a question live or on Chat, FIRST, tell them who you are, what you do and then ask the questions 4 - After the event, FOLLOW-UP with other attendees and panelists via social media Kelly Hoey is the author of Build Your Dream Network: Forging Powerful Relationships In A Hyper-Connected World.
The Magic of SPIN
Developed by Dr. Neil Rackham ! Through the use of this 4-step questioning technique ! The discovery of the client problems are identified by the Prospect and NOT by the Salesperson ! As a result, the Prospect does not feel like they are being "SOLD," but that they have been correctly guided by the salesperson ! Builds a Solid PARTNERSHIP
Another Way to View Pre-Sale Planning is to...
Do your homework!
Personal Networking
IF IT'S TO BE... IT'S UP TO ME ! CREATE A POWERFUL DIGITAL PRESENCE ! MAKE PROSPECTS INTERESTED IN YOU ! CREATE A DESIRE (WITHIN THEM) TO WANT TO SEEK YOU OUT ! YOUR BEST DEFENSE IS A STRONG OFFENSE
Class "A" Prospects Defined:
Ideally, the optimal prospect is one to whom..... 1. You have been REFERRED to by a person that the Prospect "respects" 2. A person who has the ability to make a BUYING DECISION 3. Someone that you have all the INFORMATION THAT YOU NEED to make a good presentation 4. An individual who has the ability TO PAY for the product or service that you are marketing These Are The Prospects That You Are Truly Seeking!
After The Call...
If the prospect agreed to meet with you: 1.Put it on your calendar 2.Send them a quick thank you for agreeing to meet with you 3.Send them an invitation and a reminder as your get closer to the meeting If the prospect did not agree to a meeting: 1.Add them to your database 2.Try to make a creative impression (so they remember you) 3.Plan to call them sometime later 4.Monitor their business and their own activities to gain future insights on how you can eventually get an appointment
3 Strategies to Optimize SPIN
Learn to Focus on the Right Problems ! Requires Product, Market, Competitive and Customer Knowledge & Planning Listen Carefully to the Customer ! Let the Prospect Talk ! Take Notes Focus on Problem-Solving versus Interrogation ! Avoid repetitive questions ! Paraphrase and repeat prospect comments to demonstrate that you are in synch
Using Prospect Lists: Some Tools That GoSite Uses
Linkedin Sales Navigator Gong Hubspot zoominfo Lusha Targeting the right prospects by obtaining a good list makes a big difference in your SALES RESULTS
Gatekeepers Are Not Your Enemy
OK, Your Voice Mail / Email Strategy Worked & You Finally Connected But You Reached The "Gatekeeper" What Do You Do Now? -But they can PREVENT you from getting to the Decision Maker
Preparation and Pre-Planning
Predict likely objections ! Your past experience ! Experience of others within your company ! The pre-approach information gathered • Prepare for the presentation ! Set sales call objectives ! Rehearse (role play) • Learn how to best approach the prospect ! Focus on Social Style Analysis
Do You Make Small Talk or Get Right Down to Business?
Relationship tension is common in the beginning. ! Chit-chat with a purpose ! The purpose of small talk ! Gain an advantageous, positive beginning that will break the ice and ease tension ! "Warms up" a cold environment ! Provides additional information ! Small talk can be negative if it conflicts with prospect's social style
Why is SPIN selling so important
SPIN Selling is more important than ever because today, so many products are commoditized, meaning that the skills of the salesperson are often the main reason why the prospect chooses to buy from one company versus another • SITUATION Questions: Are easier to answer, but may grate negatively on some prospects, because in today's digital world, they will think that the salesperson should have already researched that issue and there is no reason for them to be asking those basic questions. • PROBLEM Questions: In the past, customers relied on the salesperson to help them identify current problems. That trend has changed. Today, prospects want the salesperson to help them predict problems before they occur, so they can be avoided. - Eg: Person falls into a pit does not need a ladder... They want to learn how to avoid falling into the pit • IMPLICATION Questions: Are more important than ever because solutions are much more complex today than they were in the past. The implications for a prospect of not doing the right thing can lead to serious consequences for their business in the future. • NEED-PAYOFF Questions: Also, more important than ever, because sales today is all about creating customer value.
Sources of Pre-approach Information- EXTERNAL FACTORS
The Salesperson must ALWAYS keep their eyes and ears open about what is happening at the Prospect company ! Mergers & Buyouts (new strategic alliances) ! Key Personnel changes ! Bankruptcies ! Pandemics These are the same reasons why a salesperson must keep their prospect pipeline going at all times, because you never know what's around the corner
Some Reasons For Firing Are Within The Salesperson's Control
The client / salesperson relationship deteriorates and the client chooses to take their business elsewhere & fires you and your company
A Salesperson's Pre-planning Efforts Vary Based Upon A Variety Of Factors
The extent of your Pre-approach will vary by the Industry you serve, the types and number of prospects you have and your familiarity with them.
Before COVID The Handshake Was The Proper Initial Greeting
The handshake helped determine someone's personality style: ! Drivers - firm, may turn hand over yours ! Amiables - may not make eye contact ! The handshake is one of the first nonverbal signals you give and receive
Finding Qualified Leads Is Not Only Time Consuming, But Very Expensive
Typically, the larger the company & the higher its revenues, the more costly it is to find a qualified lead
Implication Questions:
Used to build up the seriousness of the problem in the mind of the prospect Phrasing is critical Attach a bottom-line figure to the question At this stage, the salesperson asks a few hypothetical questions. These questions imply that their prospect's problems can be solved using their product or service. However, there is a thin line between asking them an implied question masquerading as a solution and insulting their current methods of getting things done. Be sensitive to your client's plight. Don't just assume that the product or service you're offering will dramatically increase their productivity right away. SPIN selling questions can help you understand their situation, but it does not allow you to jump the gun in offering your product or service as a solution. Examples of Implication questions to ask are the following: • If you fail to put the data into the sheets, what would happen? • How much time or money is this going to take from you to fix it if you're unable to do this? • If once you stop manually connecting it, how much will it affect your daily revenue?
If possible, take the "multi-media" approach...tell them on the VM, that you will be sending a follow-up email too
Voicemail hell - 80% of calls go to voicemail. Be prepared to leave an 18-30 sec message -Why? Prospects won't listen much more than 30 seconds to a cold call message, an Inside Sales study -Each additional second used beyond your 30 decreases the chances of connecting with customers by 2%.
Preparation and Pre-approach- Other important factors to consider:
What plans does the company have that could affect its future need for my product? • How satisfied is this company with its present supplier? • How often does this company buy my type of product or service? • Do we (or can we) use their product or service? • Who are this company's competitors? Does my company do business with any of them? All of this is PRODUCT KNOWLEDGE too
sales process
approach, needs discovery, presentation, handling objections, closing
With All These Reasons For Change, A Salesperson Must Keep Their Sales "Pipeline" Fresh With New Potential Prospects
prospecting preparation contacting presentation decision sale
Most ANNOYING voice characteristics:
1. Whining and complaining 44% 2. High pitched or loud tone 28% 3. Mumblers 11% 4. Too fast or too weak 9% 5. Monotone voice 4% 6. Strong accent 3% What to AVOID Doing
Always Be Open To Prospecting
! Prospects can be found anywhere & everywhere ! Stay informed & up-to-date ! Read & Follow websites, blogs, social media, newspapers, trade press... ! Listen to relevant podcasts
THE COMMITMENT QUESTION
"How involved do you want to be in incorporating this change in your business/life?" These questions won't guarantee success... but they go a long way toward developing a sincere, long-lasting connection!
7 Thoughts on Dealing With Gatekeepers
! Be Sincere & Respectful ! Be Honest about your intentions ! Politely ask questions - Gatekeepers often know what the company's needs are and what's in the Decision-Maker's best interests ! Be Patient... Remember, the Gatekeeper's job is to protect their Boss from YOU ! Keep your Sense of Humor ! Be Thoughtful - small gifts and cards can go a long way REMEMBER Since the Gatekeeper's job is to screen calls for the Decision Maker If you can communicate well with the Gatekeeper, you have laid down the groundwork for good communications with the Decision Maker Good Communications With A Gatekeeper Can Give You Great Insights Into The Decision Maker... Don't Blow It!
Proper Planning Prevents Poor Performance
! If Buyers perceive you as unprepared, you won't get a second chance to call on them again ! You won't sell to them either ! First impressions are essential in Sales BE PREPARED!!
Salespeople MUST learn to THINK like their Prospect / Client
! LEARN WHAT KEEPS THEM UP AT NIGHT ! Obtain competitive insights and reports ! What trends are most relevant to them ! Is their share of market increasing or decreasing? ! FOCUS on ways you can help them ! Addressing and resolving their "Pain Points" is the best way that a salesperson can demonstrate their value to their prospect
Best Ways to Prospect-GETTING REFERRALS / Word of Mouth
! Learn how to ask for a referral! (It's a Skill) ! Some people won't give referrals (Why?) ! Referrals tend to be horizontal (What?) ! If possible, ask your referral to make the initial contact for you Referrals or positive word of mouth surpass all other methods to get new prospects
Preparation and Pre-Planning: Visualize success in selling
! Mental toughening ! Visualize the meeting over and over with a successful outcome ! Practice out loud Use AFFIRMATIONS to help motivate and inspire you for success in selling
Planned Cold Calling
! Preplan your cold calls ! Remain enthusiastic ! It's just a part of being in sales ! All of us go through it Use LinkedIn to "warm up" your Cold Calls. Referrals & Centers of Influence ALWAYS Surpass Cold Calling, but usually... You'll Need To Do MUCH MORE than simply connecting with people online to build a successful sales relationship
THE FRUSTRATION QUESTION
"What do you want to avoid?" • What is it about [issue, problem, need] that is affecting your business/life? How important is it that this be addressed? • When you think of your current suppliers/vendors, what would you change about your interactions with them or their products/services? • What do you dread might happen if [issue, problem, need] is not resolved? Why is that important to you? • How do you choose what companies to do business with? • What do you have to see or know about a product/company in order for you to make a yes decision? • What would a company need to show you, after you've made a commitment, to convince you that you've made a wise investment? • When you think about vendors you've done business with in the past that sell similar products/services, what did you like best about them? Why was that important to you?
Gosite Sales Development Representative Program
* Founded : 2017 PURPOSE : GoSite SDR Program is to provide the invaluable (and often difficult to find) experience of hands on, real world experience to college students and recent grads. * Hiring : 10 New SDR's every 2 weeks MISSION : To give candidates applicable experience, learning opportunities and long term career success through training and mentorship within a software startup environment.
Future Entrepreneurs Take Careful Note
-TALK LESS & LISTEN MORE -SINCE ENTREPRENEURS ARE SO PASSIONATE ABOUT THEIR PRODUCT, THEY TEND TO BE IMPATIENT AND JUMP INTO PROMOTING THEIR SOLUTION, BEFORE THE PROSPECTS HAVE "DISCOVERED" IT FOR THEMSELVES -HIGHLY EFFECTIVE SALESPEOPLE INTRODUCE THEIR SOLUTIONS FAIRLY LATE IN THE PRESENTATION, THE "NEED PAYOFF" PORTION OF SPIN
Gatekeepers 101
-You Must Change Your Perception Of Them -GATEKEEPERS are NOT your ENEMY -View them as someone who is there to HELP YOU and can STEER YOU in the right direction
The Social Media Connection - AFTER THE CALL
-connecting online after a call helps put a face with the name -you won't use it to close a sale, but you can use it to deliver value and build a relationship -open up a dialogue and provide useful information
The PRE-APPROACH is also known as Pre-Sale Planning
...it's the planning and preparation done prior to the actual contact with the prospect • Pre-approach Basics ! Allows you to be less mechanical and more thoughtful ! Allows you to anticipate problems and plan ways to handle them
Gitomer on Creating Valuable Questions
1 - Know about things that your Customer considers valuable 2 - Create questions that make your prospect think about themselves but respond in terms of you 3 - Ask questions that strike importance and emotion in your prospect's mind and heart Valuable Information Obtained = More Valuable Questions = Increased Proficiency = Increased Sales
Recap from Prior Class On Various Prospecting Tools For That Call
1 - Referrals are the best way to prospect for new potential clients (provides instant credibility for the salesperson if the person making the referral is respected) ! Sometimes a salesperson can also prospect their prospects for future leads 2 - For successful prospecting in 2020, companies may need to invest in a variety of prospecting tools ! GOSITE uses Gong, ZoomInfo, Hubspot, Lusha, LinkedIn Sales Navigator 3. Since finding qualified prospects is difficult, costly and time-consuming, many companies utilize newer, less experienced salespeople (SDR) to generate leads that are ultimately passed on to the more experienced Account Executive
4 Tips on Trade Show Selling
1 - Scan Strategically, Qualify Prospects 2 - Stay Organized 3 - Follow-Up With Rapid Email Blast 4 - Act Fast
The Significance Of That First Meeting & Approach
1. To make a favorable or positive impression on the prospect 2. To gain the prospect's undivided attention 3. To develop positive interest in your proposition 4. To transition smoothly into the fact-finding or need discovery steps of the sale
8 Great Reasons Why & When It Pays To Pick-Up That Phone Or Headset
1. 57% of C-level buyers prefer that salespeople call them, according to a comprehensive Rain Group study 2. 82% of buyers accept meetings when salespeople reach out to them, the Rain Group found 3. When's a good time? The earliest part of the buying process: 71% say they want to hear from salespeople when they are looking for ideas to drive strong business results 4. The ideal number of calls to win the sale: Six, according to research by Velocify. Fewer than that and salespeople might not cover enough ground. More than that and its diminishing returns on time and effort 5. However, 50% of leads never get a second cold call from salespeople, another Velocifiy study found 6. The best days to make prospecting calls are Tuesday, Wednesday and Thursday, according to comprehensive research from CallHippo 7. Wednesday is the absolute best: 46% more conversions are made on Wednesdays compared to Mondays, the CallHippo researchers found 8. The best times to call prospects: 4 to 5 p.m., then 11 a.m to 12 p.m. (on those best days we noted) "A phone call will get someone's attention much quicker than an email, and you're able to customize your sales pitch," says Stuart Leung, SEO manager at Salesforce.com. "With actual, real customer interactions, you will be able to pinpoint the problem by asking specific questions and offer the prospect a solution."
Prospecting Via Email - Get Personal
1. 80% of buyers prefer that salespeople contact them via email, The Rain Group researchers found. One caveat: It has to be a personalized - not a massmarketed - message 2. More than 50% of customers will find someone else - even when they're looking for a provider - if they don't receive personalized emails, a Salesforce survey found 3. The best time to send those personalized email messages: late morning and mid-afternoon (just ahead of the times buyers are most likely to open and click through email messages), according to research from Get Response You're better off sending emails between two time slots: 10-11am and 2-4pm -59% of buyers think the sales emails they receive are irrelevant
Preparation and Pre-approach- Develop a checklist of sales essentials:
1. About the prospect's Company • What business is the company in? • What are its products? • Which markets does it serve? • Who are its primary customers? • Where does it rank in its industry?
4 Steps in Pre-approach Planning
1. Analyze prospecting information 2. Plan specifically for each sales call 3. Study product and sales info of what you are trying to sell 4. Rehearse your presentation
5 Ways to Get Better Results,When Seeking Referrals
1. Ask the person for their help 2. Gain their permission to explore 3. Explain your course of action, what you are proposing (your Game-plan) 4. Narrow their focus by explaining who your ideal prospect is... this makes it easier for the person you are asking to focus on helping you 5. Always ask for referrals with respect SAMPLE APPROACH TOWARDS ASKING FOR A REFERRAL "I'm not asking you to recommend me or my product. All I really need is an introduction to some people you know. It can even be through LinkedIn if that's easier for you! I will talk to them, as I have with you, in a professional manner and give them an opportunity to learn about me and my company."
Some Of The Reasons That We Lose Customers Are Beyond Our Control
1. Customer moves on, retires or dies 2. Customer's company goes out of business 3. Mergers, downsizing or bankruptcies 4. Unexpected & unplanned for pandemics
Strategic Recommendations
1. Establish a Clear Agenda • This can be done through the use of "permissive questioning" with wording such as: • "...Would it be okay?" "...Will that be alright?" "I believe I can offer you a service that will be of considerable value to you, but in order for me to be sure, and to know a little more about your particular situation, would it be okay if I ask you a few questions?" "The only way for us to know how my company can best serve your needs is for you to give me permission to ask a few personal questions. Will that be all right with you? Oh, and may I make some notes while we talk?" Avoid technical language or terms unique to your company or product that might confuse the prospect 2. Phrase each question so that it has only one clearly focused purpose • Questions are easily misunderstood by most people 3. Use the "Repeat a Fact" Technique ! Use information or facts they provide to you in your presentation
3 Rs of Networking
1. RESEARCH - first evaluate your current network... LinkedIn contacts, email... Use free service, www.GLEAM.org to help you analyze your current network in its entirely. 2. REFRESH - reach out to those "weak ties," because they may turn out to be the most important people in your network 3. REACHING-OUT - to establish new connections. When trying to determine what areas of your network, you want to enhance, consider Breath (how diverse / far reaching) or Depth (more specific / targeted.) Also, are you a Mentor or a Mentee? View Networking as an Opportunity to Establish Long-Term Meaningful Relationships
YOUR OBJECTIVE: To transition a targeted person or company from a lead to a qualified prospect and ultimately to a client
1. Sales Lead - is just a name 2. Prospect - someone researched for need, fiscal capability, and authority 3. Qualified Prospect - a thoroughly evaluated prospect that has met the criteria (along with additional relevant information) 4. When serviced successfully, the Qualified Prospect ultimately transitions into a Client
10 Types of Approaches
1. The Self-Introduction Approach ! Weakest approach by itself ! Address the prospect by name (pronouncing it correctly ! State your name and company ! Has greater impact, when immediately followed up with another of the Approaches 2. Qualifying Question Approach ! Seeks a commitment from a prospect ! By the Prospect's response, allows you to determine if they are cold, lukewarm, or red-hot ex: Mr. Smith, if I can satisfactorily demonstrate to you that the service provided by our company will save you at least $5,000 within the next three months, would you be willing to do business with us? 3. Relevant Benefit Approach ! Gives the prospect a reason to listen ! Suggests a risk for failure to listen Ex: Based on what we've discussed so far, there's a new product that we've launched that I believe you will find particularly intriguing, since it provides the ideal solution for your needs to ramp up your IT capacities without adding any additional staffing. - Think about all of the money you'll save 4. Curiosity Approach ! You should already know something about the prospect ! Ask questions whose answers will reflect favorably on your product/service Ex: Mr. Jones, have you ever wondered why your gas and electric bills keep creeping up despite your solar upgrades? We have an easy solution for that. May I share it with you? 5. The Question Approach ! Quickly establishes two-way communication ! Enables you to apply the benefits of your product or service Ex: Ms. Dyer, would you like to have distinctive-looking, quality-driven reports and the most up-to-date pricing information to share with your customers, available at your fingertips? 6. The Compliment Approach ! Signals your honest interest in the prospect ! Make it sincere, specific and of genuine interest Ex: Mr. Johnson, I had the recent opportunity to watch your Webinar on how you've increased sales for your company. It was a wonderful and useful presentation that taught me a lot. 7. The Referral Approach ! Helps you establish leverage by borrowing the influence of someone the prospect trusts and respects Ex: 1. Miss Reid, your associate, Rob Hibray has recently completed one of our courses in personal leadership. He told me that you are also interested in becoming a better leader, and suggested that you would like to hear about what our company has to offer. 2. Rita Hersch, who recently purchased an inventory software package from us, suggested that I contact you, Mr. Parker. She thought you would like to have an opportunity to consider whether our technology solutions and cost-saving features could also be of benefit to you. 8. The Education Approach ! Utilize research or data and use your approach as a means to provide vital information to your prospect Ex: Sarah, we've done some studies and found out that in your industry, there are five things that make companies fail and five things that make them succeed. Would you be interested in seeing this data? 9. The Showmanship Approach ! Doing something unusual to capture the prospect's attention ! Example: dropping a new, unbreakable plate to demonstrate its durability 10. The Hands-On (Product Demo) Approach ! Hand the product, or some physical representation of it to produce a positive reaction ! It stirs interest ! Permits a demonstration ! Makes a multiple sense appeal ! IMPORTANT NOTE: In the COVID world, this type of approach is utilized much less frequently When giving a Prospect a demonstration of your product, MAKE SURE that you stay in control of the demo and don't lose your Prospect's focus to your product. TO MAKE THE SALE, THE PROSPECT MUST STAY FOCUSED ON YOU AND NOT THE PRODUCT
Your questions have 4 Key Objectives:
1. To discover the prospect's "hot button" 2. To establish their purchase criteria 3. To agree upon a time frame for the completion of negotiations 4. To gain agreement on the problem before beginning your actual presentation Specific Planning of Questions
The Significance Of That First Meeting
1. To make a favorable or positive impression on the prospect 2. To gain the prospect's undivided attention 3. To develop positive interest in your proposition 4. To transition smoothly into the fact-finding or need discovery steps of the sale
The Proper Greeting Rules for an effective handshake
1. You may wait for the prospect to initiate the handshake 2. Maintain eye contact for the duration of the handshake 3. Apply firm, consistent pressure on the hand. 4. The hands should meet equidistant between the prospect and the salesperson in a vertical position. 5. If your palm tends to be moist from nervousness, carry a special handkerchief with powder and pat your hand several times Although Creativity is a good thing, avoid certain types of handshakes. Just like everything else in Sales, practice the KISS method
The Proper Greeting: Use the prospects surname, Mr. Jones or a first name based on:
1. Your relative ages 2. Prevailing customs in the region or country where you are meeting 3. The type of industry you are part of (formal vs. lax) 4. Your conclusions about their behavioral style Probably, NOT the best way to greet your prospect at your first meeting. Unless you're drinking a BUD and talking to Buds
Dealing with voicemail
1. give your phone number twice 2. try to avoid leaving messages on a Friday afternoon 3. Monday mornings can also be a bad idea for voicemail 4. the best times to leave a voicemail are 7-8am and 4:30-6:30pm -but you must be persistent
Some Great Ways To Increase Your Prospecting "Success" Rate
1.Personalize your message 2. Communicate via the prospects preferred medium 3. Be unique 4. Use conventional syntax (don't sound like a robot) 5. Include a clear call to action 6. Focus on the prospect's needs, not your own One of the ways to improve the results of your prospecting is through sheer willpower: making tons of contacts and keeping your foot on the gas. The other way - and they're not mutually exclusive - is to increase your response rates, thereby becoming more efficient.
Re-Engaging With Humor A Unique Email Strategy That Really Works
1.Send a brief email focused on "a" reason for your PROSPECT to respond. 2. Follow up your email one week after the initial email. The second email should be even more brief then the first e-mail, while reiterating your purpose for reaching out. 3.Be sure to place in the Subject line: RE: (TAKE TWO)... 4.Assuming no reply to your second effort, send a third email one week later again. Remain positive and professional and once again reiterate your purpose for reaching out. 5.Be sure to place in the Subject line: RE: (THIRD ATTEMPT)... 6.Send a final email one week after the third attempt. This email is a bit of a "Hail Mary." Be super creative with this email; it's probably your last try. 7.Be sure to place in the subject line: RE: (MY BAD)... Example Subject Lines: First e-mail — Quick Question Second e-mail — RE: (TAKE TWO) Quick Question WARNING - DO NOT OVER-USE THIS STRATEGY
Since COVID, Will We Ever Shake Hands Again?
1.THE ELBOW BUMP 2.THE FOOT TAP 3.THE HEAD NOD 4.THE YOGA BOW 5.THE WAVE
Situational Questions
Data-gathering questions Uncover facts and background only They should be non-threatening and help built an atmosphere of trust Sales reps will ask generalized questions looking for a cue to jump on to. Every question that falls under this phase will be related to the salesman's product, but will not reference it directly. Examples of Situational questions are the following: • How do you automate things in your sales cycle? • What is the procedure you follow for prospecting? • How do you track your customer's interest and engagement?
Pre-COVID - Group Prospecting
Many reps in the Financial services industry use group information sessions to gathering people together for the purpose of offering free information about retirement, financial planning, their finances, or investing strategies. During that session, the professional has the opportunity (in the form of a captive audience) to find and hone in on people's pain points. After such a session, it is always imperative to follow up with attendees and strike while the iron is hot.
Telephone Techniques
Mental exercises to use in advance of the telephone call or personal visit: 1. Practice using your powers of visualization 2. Create a mental hologram and live it over and over in your mind 3. Practice out loud - your mind loves to hear the sound of your own voice 4. You gain the same benefit from this type of practice as from an actual sales appointment 5. View the appointment as a mini-sale. You're selling the appointment over the phone, not your service or product. Remember: Your mind cannot separate a real experience from an imagined one Mental exercises to use in advance of the telephone call or personal visit: 1. Practice using your powers of visualization 2. Create a mental hologram and live it over and over in your mind 3. Practice out loud - your mind loves to hear the sound of your own voice 4. You gain the same benefit from this type of practice as from an actual sales appointment 5. View the appointment as a mini-sale. You're selling the appointment over the phone, not your service or product. Remember: Your mind cannot separate a real experience from an imagined one
Trade Show Marketing
Pre COVID-19, A Great Source For Finding Qualified Prospects According to the Center for Exhibition Research, there were approximately 9,400 B2B trade shows and exhibitions held in the U.S. in 2019, contributing $101 billion to the nation's GDP. These events are where companies showcase their latest and greatest products and services. Salespeople connect with old customers and meet new ones. Customers can shop— casually or seriously—meet with salespeople, learn about new products and more. All of that, plus networking and learning opportunities, is part of the typical trade show experience. COVID-19 Has Had A Significant Impact On The Trade Show Industry
Problem Questions:
Questions that explore needs Helps define the prospect's needs more explicitly Used to search for areas where your services are needed THE GOAL IS FOR PROSPECT TO INITIALLY RECOGNIZE THAT THEY DO HAVE A PROBLEM The salesperson will ask the prospect about the problem they face due to their current situation. This will lead to the prospect or potential client being more comfortable with the salesperson, resulting in a healthier conversation. Examples of Problem questions to ask are the following: • Is it expensive for you to use different premium tools for small tasks? • Do you feel that a few processes in your company can get faster? • What challenges do you face during your current plan for this tool? If the prospect can discuss the challenges they have in achieving success, sales professionals can get a better idea of what solution to offer them to reach their goals.
Need-Payoff Questions:
Questions that get prospects to tell you the benefits your solution offers Helps build the VALUE of your solution Creates a positive problem-solving atmosphere The last part of the method is to try to resolve the client's need and ask them to buy your product. This is the most important part of the SPIN selling methodology as it determines whether the prospect is interested in the idea or not. If you genuinely listened to your potential client's situation, you won't have to extensively explain your product. They'll be pointing out the benefits they can get if they purchase your product. You'll be able to close a sale and establish a genuine relationship with your customer. Examples of Need - Payoff questions to ask are the following: • What if you could cut down on time spent on a process through automation? • Would you like to have a look at the possibilities you can achieve if you use the right tool? • Why don't you give it a try? • What's stopping you from having a free trial and testing if we are able to solve all your problems or not?
Gaining Attention & Capturing Interest
Salesperson must develop a carefully constructed, attention generating statement that focuses the Prospect's full attention completely on you and your proposition ! Unless Prospects want to listen, they won't - so you have to give them that reason ! Fit your approach to each Prospect individually expressive, amiable, analytical, driver
When you finally get the prospect on the phone, use the 6-Step Telephone Track
Step 1 - Introduce yourself and your company • A judgement will be made about you within 10 words • Keep it warm and friendly Ex: Good morning, I'm Patty with GoSite. Am I speaking with Todd Olsen? Good! Step 2 - Provide a "tangible benefit.... • A call is an interruption - take the "curse" off of your call • Get permission to continue • Soften the impact with, "I need just a few minutes..." Ex: Patty: "...We talked yesterday while you were driving and you asked me to get back to you. I wanted to talk with you about some of the discrepancies that we found pertaining to your online directories. Is this a good time to talk?" Mr. Olsen: How much time do you need? Patty: "About 5 minutes." • Step 3 - Personalize the Call...by stating the purpose of the call Ex: Patty: "...My reason for calling is to address those listing discrepancies I saw. Such as different addresses, a Fulton and a Spalding address. - Are both of them correct? Are there two locations" Mr. Olsen: (sounding frustrated) No, I've tried to correct this for years and no one has done it yet. People have promised me that it would be fixed, but still no action Step 4 - Relieve the prospect's pressure by using an interest-capturing statement ! Usually a customer benefit ! You could ask a thought-provoking question Ex: "...Are you on a Smart Phone right now? Good, because then I can actually show you what we are talking about by giving you access via a shared screen and let you see for yourself our online visibility report..." Step 5 - Overcome their resistance Ex: • Mr. Olsen: I currently have a contract with TOWN SQUARE... • Patty: Yes, I understand that you have a contract with Town Square. Several of our other clients have in the past as well. We get a lot of turnover from them, because their prices are so high. We can show you ways to save money and get better results. • May I show you..." Step 6 - Request an appointment ! Don't give too much information over the phone Ex: "Thank you for your willingness to explore a GOSITE solution. I am confident that it will help your business. I'm now going to connect you to a Product Specialist, who can better help you with your specific business challenges"
Pre-COVID Networking Was Simpler
THE DON'TS 1 - Don't Drink (or drink minimally) 2 - Don't jump right into Business talk 3 - No more than 10 minutes with a prospect 4 - Don't just collect business cards 5 - Don't be anti-social THE DO'S 1 - Set a Goal for the event 2 - Dress professionally 3 - Practice your short "elevator pitch" 4 - Be outgoing 5 - Act like a host 6 - Send a personal note
A "Center Of Influence," & How They Can Help You
Whereas a Center of Influence can potentially "open the door" for you with a prospect, they usually, CANNOT GET YOU HIRED ! Are influential with a significant number of people (wide range of contacts) ! Is someone who believes in you and what you are selling ! The names they give to you are at least partially qualified prospects ! Implement a referral strategy with your "Center of Influence" that is similar to the way that you would ask someone for a referral
First Impressions
You've got just 4 Minutes: 4 Minutes or just 240 seconds is the average time that prospects take to decide whether or not they will buy from you. -BUT, Your First Impression MUST be based upon...WHO YOU REALLY ARE (BE AUTHENTIC)
Dressing For Success
• Salespeople suffer from "attire confusion syndrome." when it comes to deciding what exactly is "business casual." • Avoid dressing too casual. Instead, your clothes should reflect your personality and the position you are seeking. • Professional is the key word to remember. Look good but don't overdo it.
Setting Up That First Sales Appointment
• Options for Gaining Entry: Making that first appointment 1. Live - show up in their office - (BAD!!!! - Especially during a Pandemic) 2. Social Media - Strong for preparation - WEAKER for initial personal contact 3. "Snail Mail" Letter - No one gets them anymore = unique. BUT SLOW. You must follow-up with a telephone call or email (or both) 4. Email - LESS EFFECTIVE - when used alone (SPAM!!) 5. Telephone - The BEST Option, good, non-intrusive and enables actual, voice-to-voice interaction
1. Be Open To Using OPEN-END Questions Be Open To Asking Open Questions
• Ask Open questions as often as possible because they encourage your prospect to THINK and will provide you with a more comprehensive response (reply) and more info • Open questions always start with either a WHO, WHAT, WHERE, WHY, WHEN or HOW question • When asking questions, ask them one at a time and allow your prospect to answer, before asking them another • "Stacking" is when multiple questions are asked at once, and results in the prospect usually just answering the last question, even if it is not the most important one that you've asked • When asking a question, your tone of voice or INTONATION is essential since it conveys much more than just the words to your question Your Intonation Makes A BIG Difference
SDSU Alumni, Terry Sjodin On Making First Impressions NBC's TODAY SHOW
• FORBES Magazine says that you have just 7 SECONDS to make that good first impression • You want to show your trustworthiness - emoting warmth & confidence • Prior to the meeting - use the PRE-PLANNING strategies covered in prior classes. This shows your sincerity and willingness to work / "do your homework" - which heightens your credibility, thus increasing your trustworthiness with the prospect • Try to give a genuine smile (versus a fake, forced smile) • Various ways to sit during the job interview (Pre-COVID) • Where you sit at the conference table can contribute towards that first impressiondominance / leadership (sitting at head / flank positions) or sitting at the center promotes a community approach towards the meeting - SOCIAL DISTANCING IS A REQUIREMENT IN LIVE MEETINGS TODAY
Examples Of OPEN-END Questions
• How do you think I might be able to help you? • In a perfect world, what would you like to see us deliver? • What are five unique characteristics of your business? • What benefits would you expect from our ten-week time-management program?
Examples Of CLOSED-END Questions
• How many employees do you have working the day shift? • With what cloud-based accounting software companies are you familiar with? • Is crash-test safety reporting important to you? • Does your company pay the full cost of employee health insurance, or do the employees pay part of the cost? You may also phrase closed-ended questions to get feedback or to gain commitment: • Would you like delivery Friday, or is Monday of next week better? • Are you responsible for making the decision to purchase from us, or will there be others involved? • Do you know what your customers do with your product after buying it? • Do you prefer to pay up front, or would you like to arrange a monthly payment plan?
Key Questions That Build Relationships
• MOTIVATION: What inspired you to take this appointment today? • MOTIVATION: What products or services are most likely to get your attention? • SUCCESS: What do you want this meeting to accomplish? • SUCCESS: If we left this meeting today with a plan for incorporating this product into your company, would that make you happy? THE MOTIVATION QUESTION: "Why are you passionate about this product/service?"
Need Discovery & The Sales Cycle
• Need Discovery is often more important than any other step in the Sales Cycle. • Need discovery is the foundation upon which a successful sale is built. • Asking questions is called "discovery" because you want your prospects to feel that THEY have "discovered" the solution to their needs. • Prospects are often unaware of a problem... until they are correctly asked about it! Often, it is the most Crucial Phase in the Sales Cycle MAKE OR BREAK!
9 Important Items To Remember About SPIN Selling
• Use this technique when your clients have yet to fully understand the problem they're facing. If you can help them realize the pain points and offer them a solution, then you won't have a problem building a lasting relationship with them. • Listen carefully to your client's answers. This is the only way to present them with a solution that will address their problems effectively. • What works for one customer may not effectively solve the problem of another. Though they may have similar general issues, the specifics of each client may differ depending on the situation they're currently facing. • Research is the key! Don't jump in without knowing anything and instead, make sure you ask questions relevant to your client's problem. • Be aware of time limits. Talking about problems and possible solutions may go on for hours if unchecked but always be wary of the time you spend in sales discussions. • Prepare for your customers to ask their own questions. Because the Internet is more accessible now, people tend to do their own research ahead of scheduled sales calls. • Ask questions to keep the conversation going for you to get more information, and don't just check off questions like a checklist. Remember, every customer has different needs. • SPIN selling is just the first step to fixing your client's problem areas. If they won't use your product or service properly, then the solution they want won't be achieved. • SPIN selling is just a methodology, not the sales bible. In some cases, the SPIN selling model may not be the best strategy to use for closing a deal.
Ask questions that help reveal to you the social style of your prospect
•Drivers are task oriented. Show them how they can win. • Expressives show a more personal orientation. Use testimonials and showmanship. • Amiables and Analyticals take longer to respond. So you must be more patient with them.
The SPIN® Technique
•Objective: WHAT DISTINGUISHES GREAT SALESPEOPLE from average salespeople? •SPIN Concept was developed after observing 35,000 salespeople over twelve years. •Neil Rackham found that the SEQUENCE OF THE QUESTIONS made the biggest difference Situation questions: fact-finding questions Problem questions •Ask prospect about their problems •Historically, after identifying their problem, the salesperson would jump in with their solution Implication questions: •Succeeds in deepening their pain Need-payoff questions: •VALUE QUESTIONS - Ask the prospect to imagine how life would be if this "painful" problem were resolved
