Consider these stats [i]:

• In the U.S., average turnover in sales is between 20% to 30% annually. This means that for many firms, the equivalent of the entire sales team must be hired, trained, and socialized every 3 – 5 years.
• Depending upon the position, it now takes 3-4 months to hire a salesperson and,  once hired, getting to full productivity takes more than 9 months. That is more than a year without a fully productive seller, and each hire becomes a sunk cost for a longer time while a bad hire is very costly.

Hiring in sales is often more expensive than many companies’ cap­ex decisions, but typically treated with less rigour than purchasing software. How can you get better at this core task?

First, recognize the challenges inherent in sales hiring:

Unlike many other business functions, there is no easily identified resource pool or educational priors for sales positions.

If you’re looking for an engineer, you can go to an engineering school and find people who have studied engineering. For an accountant, finance person or software developer, you can find majors in those subjects. But few colleges and universities have sales programs or even a sales course. Yet, it’s estimated that more than 50% of graduates (in U.S. colleges) will work in sales at some point in their careers, regardless of their major.

Hence, most salespeople start with little preparation and must learn by doing on the job. And selling jobs vary greatly depending on the product or service sold, the customers a salesperson is responsible for, and the relative importance of technical knowledge during sales calls.

In dealing with these hiring challenges, here are two common mistakes to avoid:

(1) Hunters versus Farmers

Sales roles are far more diverse than that cliched dichotomy. Consider the difference between reps who sell direct to customers versus those who sell thru channel partners, those who work in highly automated inside sales models focused on SMB prospects versus those who call on enterprise accounts, those who sell individual products versus a bundled package solution, or those who sell multi­year software license agreements versus monthly SAAS contracts.

The Hunter/Farmer dichotomy is of little use in setting hiring criteria between those roles. In fact, hunters and farmers are, in my experience, usually used by managers as after-the-fact rationalisations for their hiring choices, not ex­-ante hiring criteria. Make sure your managers have relevant criteria before they make an offer, not just when they try to justify the decision.

(2) Chasing Stars

Talent matters and differences in individual sales performance are typically very wide in most firms. The top 20% of salespeople often account for ­60% of company revenues.

If 20% of your salespeople are making 60% of revenue, that’s a 3X multiplier; and since the remaining 80% bring in only 40% of revenue, the top sellers are 6X more productive than their peers. Sales is like other creative occupations where the stardom phenomenon is well documented. In areas like software programming, the arts, sports and others, the best are typically a lot better than the average. Performance profiles in those areas are (in statistics jargon) a “power distribution curve,” not a normal­ distribution bell curve.

However, stardom is not easily portable because it typically depends upon firm-specific qualities and resources—e.g., brand, training, team chemistry, and other factors—as well as individual capabilities. [ii] This is especially true in sales where tasks are determined by a firm’s business strategy and choices about which customers to focus on.

In turn, selling behaviours are affected by your control systems, culture and how you hire. Those are all firm­-specific factors and, when you hire someone from another firm, they leave all of that behind. Talk to the corporation who hires the high performing star from a competitor and finds that she does not perform the same way she performed there. Or consider startups who bring in an experienced big­ company rep and he flounders in the early-stage firm. Those people didn’t suddenly get stupid or lose individual capabilities. In business, there’s no such thing as performance in the abstract. There is only performance in each context—here, not there—and much of selling depends upon the relationships, knowledge, and mutual trust that the rep establishes with others in his or her company.

Sales is a performance art and salespeople exhibit a wide range in performance outcomes. Those outcomes depend upon innate talent as well as the context in which that talent is nurtured and deployed. Further, the effects of talent management are cumulative as people learn from each other. Reps get better by watching how the best of their peers perform key tasks. They pick up lessons about how to pitch, answer objections, and other aspects of selling that product at that price in that market.

Here are 4 tips for screening and hiring high performing sales professionals:

(1) Hire for the Task

Effective hiring starts with knowing what you need. Sales tasks are determined by buying contexts which differ greatly by industry. In computers and electronics, channel management is a key capability, but not in metals and mining. In the former, the products are often part of a package that customers buy at one-stop-shop intermediaries; in the latter sectors, direct bulk buys are the norm. Account management skills are important in chemicals where managing a portfolio of specialty and commodity products is a key sales task, but not so much in electronics where channel partners often perform account management tasks.

Every sales job has implicit required behaviours. Take the time to clarify and make that explicit in your job postings. When companies focus on the tasks, not job titles, the relevant labour pool typically expands. Coding boot camps, for instance, are now an accepted source of software talent because after a few months of task focused work the participants have job relevant skills without (and often despite) previous formal degrees. The same is true in sales. Relevant talent comes in all shapes and sizes but is dependent upon the job to be done, not some abstract ideal of undifferentiated selling skills.

(2) Avoid Behaviourally Useless Cliches

Ask sales managers what they’re looking for in candidates and you typically get lists of cliches like Sense of Urgency, Passion, Motivated by Money, Work Ethic, Coachability, Emotional Resilience, Communication Skills, Listening, Integrity, Humility, Efficiency, Commitment to Succeed, and so on.

These traits are behaviourally useless for doing what a hiring process must do: say yes or no to an individual applicant for a given job. When you’re speaking with someone at an interview, how do you unearth whether they have a “sense of urgency”? One author says, “Look for answers around impatience and 4th quarter comebacks.” Really? Confusing this stuff with job skills and evaluations is a waste of time and resources. In a job interview, who would not want to come across as hardworking, resourceful, efficient, and so on?

You’re hiring the person and not the interview version of the person. But only about a third of companies monitor whether their hiring practices lead to good employees or track cost per hire. Another problem with these lists is the assumption that a salesperson needs all of those qualities to be effective. However, it’s often advisable to shrink the span of sales activities. This requires understanding where the salesperson (versus marketing, service, or a customer success team) has the most influence. In many inside sales models, activities like lead generation and qualification are the jobs of Sales Development Reps (SDRs) and renewals are given to service personnel. This allows the firm to focus more precisely on recruiting for Account Executive roles where product demonstrations, pricing, and closing the sale with a multifunctional buying unit are the key tasks.

(3) Complement Interviews with Behavioural Assessments

Decades of research consistently show that managers overrate their ability to predict someone’s performance and fit for job tasks on the basis of a few interviews. Correlations between interview ratings and job success vary from about 0.1 to 0.4 — less than the 50/50 odds of a coin toss. [iii] In fact, some studies show a negative correlation between interview assessments and subsequent job performance: the firm would have been better-off selecting at random!

Judging a person’s fit for a sales job is, in most circumstances, a complex task. It involves evaluating the relevance of past experience, personality, fit with the culture, and so on. But people are inconsistent in making summary judgments of complex information, so always get multiple opinions and perspectives in evaluating candidates. Doing multiple assessments also often motivates people in your firm to discuss and communicate the tasks you’re hiring for and the questions and activities likely to elicit relevant skills. Conversely, this approach provides the interviewee with a better basis to judge fit.

Then, complement interviews with role plays, task assignments and, whenever possible, internship type hiring scenarios. Selling is about behaviour. Job performance from one time period to the next correlates at a much higher rate than interviews. So probationary periods are better predictors of actual performance. Meanwhile, technology is increasing options for behavioural assessments via game-like activities, video, and online media.

(4) Assume Mistakes Will Happen

Sales hiring requires judging people’s future performance in a changing market environment. Mistakes are inevitable, but the sunk cost fallacy—continuing to throw good money after bad—is not.

Consider Amazon’s policy of offering a voluntary severance package called “The Offer.” Annually, each service and warehouse employee are offered up to $5,000 to quit. The policy helps to deal with inevitable mistakes—by the hirer or the person hired—and with the reality that people change and their relationship to their work can change with marriage, divorce, sickness, the need to take care of an aging parent, or any of the other natural shocks that flesh is heir to. Amazon believes “The Offer” helps it shed less-committed employees while improving retention among others. [iv]

Sales reps represent your company to customers and prospects. A poor hire is not only costly but can also do collateral damage to your brand. It’s worth your time and effort to improve your sales hiring criteria and process.

Frank Cespedes teaches at Harvard Business School and is the author of six books. This article is adapted from Sales Management That Works: How to Sell in a World That Never Stops Changing. Published by Harvard Business Review Press.

[i] See Boris Groysberg, Chasing Stars: The Myth of Talent and the Portability of Performance (Princeton University Press).

[ii] For a review of this research, see Jason Dana, Robyn Dawes, and Nathaniel Peterson, “Belief in the Unstructured Interview: The Persistence of an Illusion,” Judgment and Decision Making 8, no. 5: 512-520. 

[iii] For a review of this research, see Jason Dana, Robyn Dawes, and Nathaniel Peterson, “Belief in the Unstructured Interview: The Persistence of an Illusion,” Judgment and Decision Making 8, no. 5: 512-520. 

[iv] Alana Samuels, “Why Amazon Pays Some of Its Workers to Quit,” The Atlantic:  https://www.theatlantic.com/business/archive/2018/02/amazon-offer-pay-quit/553202/.

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I remember hearing someone say once ‘Bernadette, the answer is always no, unless you ask’ and I have always remembered that.

Whether I am lost in the car and can’t get the directions right, I will stop and ask someone for help, whereas my husband would rather keep driving until he finds the right road – and dare I say, wastes time and gets frustrated in the meantime and it has nothing to do with women not being able to read road maps!

If I am seated at a restaurant that is near the door and it’s a wet and windy night, I will ask to move whereas a friend won’t want to be an inconvenienced, won’t ask and is prepared to be miserable all night.

If I feel that something is wrong in a conversation, I will ask what the matter is or call the elephant in the room, whereas another salesperson won’t want to put someone on the spot and so puts incorrect meanings onto comments and ends up with pipeline bloat.

Most of us feel uncomfortable when we ask someone for a favor or for help.

The story of Amanda Palmer, a living statue whose job was to sell her art and connect with people by standing on a milk crate, dressed as a bride, handing daisies to those passer-by’s who tipped money into her hat struck a chord with me.

Some of us may see these street artists and immediately jump to the conclusion that they are beggars, or bludgers or lazy (get a real job) as they stand in the popular tourist spots attracting passer- bys.

But whose story is that – theirs or yours? And if it is your perception, then how does that belief serve you when it is your turn to sell your product or service.

You see, their story is that they are allowing people to choose to buy their art. And we, as salespeople are also artists. We are not managers, we are not all entrepreneurs risking our capital for the cause, we are wanting people to buy what we believe will make a difference in their worlds.

And the street artist’s story is that they are selling connection with the people whose eyes they look into as they stand statue like still. They’re selling trust as they reach out and they are also selling themselves on vulnerability by placing themselves in a position of potential rejection.

And isn’t that the same as us? Are we not asking the question of our buyers that they tip money into our hat? That we are artists selling a product, a service or an idea that will make a difference in the world of our buyers? That our buyers also buy our connection, our trust and our vulnerability as we ask them to buy increased profitability, improved productivity and proximity?

I read an article by Jeb Blount, from Sales Gravy, this afternoon on ‘The ONLY Closing Technique that Really Works’ and I, too, can share this biggest secret with you on how the top salespeople ask for the order, even though I haven’t sworn on Jeffrey Gitomer’s Bible and I am in total agreement with Jeb.

The biggest secret to winning business is to ask for the business and the biggest choke-hold to asking, running in parallel, is fear.

Let me share a ‘close’ with you that will work EVERY SINGLE TIME and you won’t have to swear on anything for me to share it with you – ‘How can I help you?’

Simple. Straightforward. Sincere.

And it doesn’t just start and stop with a close for business. I had a coffee this morning with a corporate sales manager turned start up entrepreneur and we aligned a lack of collaboration and marketing ideas, products and services to fear, as well.

Before coffee, I was on a Google Hangout and the interviewer Jenny Munn from Business Marketing Association, Atlanta GA, who asked me why people don’t publish their content to position themselves as experts when the platforms are right there, free and convenient. My answer was, ‘the same as what prevents them asking for the next logical step in a sale – fear!’

‘The Art of the Ask’ is not about closing or trapping or conning your buyer

Asking for the business is about learning to say ‘no’ and learning to say ‘yes’ and knowing the magic lies somewhere in between, but only after you are ready to say ‘Bring It On’ to uncertainty when your buyer asks you to go a little deeper with your request.

So, it’s over to you now…

And so ask all of us!!

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Ordinary is something you are taught. You may have been infected with the idea that you are not to make waves, not to stand out, and not to draw attention to yourself. The people around you likely shared a set of common goals and beliefs like: go to school, get an education, get a good job, and work towards retirement. Even the people who love you will want to keep you safe, perhaps even telling you that using your gift is too dangerous, that you may get hurt.

what to do with under performing sales people When salespeople are not producing results?

#1 Not Enough Activity

The first reason you aren’t producing the results you want right now is because you aren’t taking enough action to produce them. There is no harvest in Autumn if you do not plant in the Spring.

Activity is what produces results, not desire, not intentions, and not luck. If you really desire a certain result, you’ll do the work necessary to produce it. Otherwise, it’s just talk. Intentions are important, but only when coupled with action. You can grow old waiting for luck to find you; she only looks for hustlers.

If you aren’t where you want to be right now, it’s very likely that you aren’t doing what is necessary to get there. If you were, you would already have what you want.

#2 Not The right Activity

Maybe you are taking massive action and still aren’t where you want to be, even though that’s less likely to be true.

You may believe that the activity you are taking isn’t the right activity. Before you decide that this is the case, you have to honestly determine whether or not you’ve done enough of that activity to get the results you want. Have you gone all in? Would some impartial party know exactly what you were trying to accomplish by looking at the actions you are taking, believing it to be an extraordinary effort?

You also have to decide whether you’ve done enough activity for long enough to get the results you want. Some outcomes you want require persistence, and that’s why so few produce those outcomes. It rarely makes sense to switch strategies and tactics without first executing against what you believe to be right.

All that said, if what you are doing isn’t working, treat each failure as feedback, and then change your approach. Find a model, someone who is already producing the result you want, and look for clues as to what they are doing differently. Repeat this until you find something that works, and then go all in.

The obstacles to success are almost exclusively internal. Even when they are not, with enough energy and effort applied consistently over time, the obstacle will yield.

6 Steps in the Right Direction

Step 1: Compare Yourself to Others

I don’t compare myself to anyone else. I just want to be better than the person I was yesterday.” This is one of those statements that sounds good on the surface, but is harmful when it comes to success (whatever that means to you). Comparing yourself to other people is necessary if you want to be more, do more, have more, and contribute more.

Lacking Knowledge

Without a point of comparison, you have no idea how you’re doing. Do you do excellent work? How do you know? How can you know without a point of comparison?

Do you have impeccable character, the kind of values that make you someone people want to work with, want to know, and want in their life? Do you know what impeccable character is without knowing what it is not?

How is your family and your health? How are you doing financially? To define how you are doing, you need some way to measure where you are.

The risk in trying only to be better than you were yesterday is that maybe you aren’t doing well enough for that to be a useful measurement.

Lacking Vision

When you compare yourself, you get an idea as to where you fall on some scale of measurement. Without that comparison, you would not know what’s possible. Without making observations as to how other people are doing, you don’t have an informed idea of what is possible for you.

Have you ever met someone and thought, “If that person can do that, so can I?” Exactly. You just needed to see it done, recognizing that the person succeeding in some area is really no different than you. Or at least the version of you who is willing to strive.

Comparing what you are doing to what other people are doing can help you develop a bigger vision of yourself.

Step 2: Spend Time with People More Successful Than You

You can’t see your potential from where you are now. It isn’t visible to you.

First, success is personal.

It isn’t measured on a curve. Your definition of success and my definition of success might be vastly different. They may even be at odds. In fact, you living my definition of success might make you miserable, while me living your definition of success might not make me the least bit happy.

There is a reason that you should spend time and develop relationships with people who are more successful than you are now. But before we get into all the reasons this is true, we need to cover a few important issues.

Second, success can get a bad rap, and some people make the very pursuit of success a divisive issue.

Success shouldn’t be divisive, and the idea that you need to surround yourself with people who have a greater level of success is not a judgment of the people you love and care about that aren’t experiencing the same level of success as the people you will need to spend time with.

The reason you need to spend time with people who are more successful than you is because you can’t see your real potential from where you are now.

Your potential is far greater than anything You can imagine. The only limit on your real potential is the limit of your awareness of what is possible for you. Your potential isn’t visible to you.

Think about where you were years ago, when you weren’t as successful as you are right now in some area of your life.

Your beliefs and behaviours were different than they are now. And even though you weren’t conscious of how they were limiting you, they acted as a governor on your success. At some point, you gained an awareness of these beliefs and behaviours and changed them.

Someone standing higher up on a mountain can see further than you can. They can also more easily see the path that is available to you, even if it isn’t yet clear to you. They have a greater view of your potential. By spending time with people who are more successful, you start to become conscious of what you believe and how it limits you. You also gain the advantage of transforming faster by finding people whose beliefs and behaviours you can model.

Develop relationships with people who are more successful than you. Find mentors. Develop a mastermind group of people who have something you want, whatever that is, be it financial success or being a great parent, or whatever you call success.

If you are going to listen to
advice, first determine whose
advice is worth taking.

STEP 3: Avoid bad advice.

A lot of people will offer you advice. Most of it, you should avoid.

Avoid people who:

Part 2 will be published next month or you can download the e-book today.

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If you believe there is an easy button for success in sales, the joke’s on you! While there’s tremendous value in a vast array of digital tools, all emerging technologies have a dark side.

Take the internet itself and its use for nefarious purposes: I wish the majority of its usage were for knowledge. How many people are studying the rich tradition of human history, MOOC learning, culture and fostering communal collaboration to break down cultural barriers, cure cancer and end the common cold?

It’s overwhelming to fathom that the internet has become a TV substitute. The Social Networks are laughing all the way to the bank monetizing your time. But you can be laughing all the way to the bank, too, if you realize this.

One of the most powerful things in the world that you can personally do to improve your life and business career, sales or otherwise is to turn off TV and social media. Understand where the new school tools fit in and acknowledge their place in the cosmos. Modernized sellers who are deadly serious about being elite performers in their field use them differently, I assure you. A cautionary tale privately emailed to me:

“Tony, Building our sales team and I just had to fire a sales rep who was only emailing and messaging on LinkedIn and logging fake sales on our CRM. He tanked our company and I’m back to square one building from the ground up. Your post resonated with me and reinforces my belief that HUMAN not ‘social’ connections are the best. Picking up the phone, sitting down for a coffee, flying in for a meeting…are irreplaceable experiences.” – Anonymous

I’ve polled thousands of you from every continent and walk of life, from transactional to enterprise flights, to massively matrixed, complex government procurement cycles that can take 36 months. The jury is in that the phone is still absolutely essential to develop business at every stage of the funnel.

To make the most money possible, the top reps in your company and industry have figured out how to manage their time, leverage old and new tools to position themselves as a trusted advisor and subject matter expert. They’ve figured out which opportunities to prioritise in a pipeline and what they need to close to hit their number.

The simplest way to get there is to build ultra-targeted prospect lists, dial on them yourself with a razor sharp value proposition and set the appointment, don’t try to sell the product. Social is a phenomenal tool for locating which prospects to go after and getting foreknowledge of what they’ll care about but paradoxically, super personalized communication can be a repellent.

Sales Managers who work for ambitious CFOs often prognosticate fantastical growth rates. 30% is not an industry standard, it’s a mass delusion. This is why there’s blowtorch management going on where 10 lemmings get hired so they can systematically fire 7. I can’t help you if you are inside a blowtorch culture. If you have a fair management system, quality product market fit, and you are on a global team in which 20-40% of your peers are hitting their number or exceeding it, so can you!

There’s no secret to sales. You need to hustle and work harder than anyone else to make it pay off for you. “It’s no longer a numbers game,” is a band-aid for the lazy modern seller. I want to contort that statement the other way: it’s harder than it’s ever been. If you truly knew how hard you’d have to work to be successful in this game, you’d probably quit.

Maintain a good sense of humour. See things more clearly, don’t buy into things being more different than the same. Observe the actual day-to-day behaviour of top reps on your team and in your industry. Study the old school and fuse it with the new school. Look at your PHONE as the ultimate social device: “the social phone.” Invest in the best tools money can buy and read your company the Riot Act if they don’t invest in you. They spent 15-25K to recruit you, they can spend the price of a cell phone getting you the best tech for prospecting due diligence.

20% of any system will drive 80% of the results. 20% of any given day’s work will engender 80% of output. That means shockingly 80% of every day is waste, friends! The Pareto Principle is alive and well in all human systems. So in order to optimise the levers that will get you to your financial goal, it’s critical to focus on the most constructive revenue producing daily activities. That’s “tripling” a targeted list – call, text – LinkedIn invite. That’s methodically attacking the same 50 targets for an entire quarter top down, bottom up, middle out, lateral, by bee swarm, referrals, and teamlinks.

After decades years of looking at this stuff, I would say that chasing the wrong people to sell them things they’ll never need is the biggest error. You need to get crystal clear about your target list.

Step one: Go after the competitors of your existing clients. Go after the companies your own direct competitor is working with and are listed on their website.

Step two: You are only as strong as your own intel, just like in war. If you can get an edge, it’s massive. If you can read any LinkedIn Profile, even one that’s hidden to you, it’s pivotal. If you can get a direct phone number to add the power of your tone, intention, and warmth to the sales cycle, it’s imperative.

Elite athletes spend 10,000 hours honing their craft and know every stat down to the wire. They will spend any amount of money getting their driver in golf to weigh one less ounce or having one more component on their racing bike, be made of carbon fibre seeking aerodynamics to crest the hill faster in the Tour de France.

Per Einstein, “Insanity is doing the same thing over and over again and expecting different results.” You can’t do what hundreds of millions of people are doing and get an elite, unusual, uncommon result. You can’t just social sell or just pound phones, or just use one method of sales.

You’ll get noticed by swimming upstream against the current. You’ll stand out like a sore thumb by doing anachronistic things like writing handwritten notes. You’ll make waves by blending multiple channels in combinations. You’ll jut out by exhibiting business acumen and understanding the fundamentals of how your prospect makes money and SWOTTING where they’re weak.

You’ll get VIP status if you have a confident, sardonic and knowing chuckle because, like them, you are laughing all the way to the bank. You can bank on my methods in these posts, field tested by thousands, and influenced by thousands.

I wish I could tell you, cold calls are dead and it’s all just social selling. The savviest sellers are using both. Top reps are interrupting their “dream prospects” and landing meetings which are converting into rich opportunity pipeline and closing millions in new business. You’ve gotta spark people to realise and react the “pain of same is greater than the pain of change.”

There are too many paradoxes in sales to simplify something that is really an art form. E.g., reconcile these two quotes for me:

“Give me six hours to chop down a tree and I will spend the first four sharpening the axe.”

Abraham Lincoln

“I fear not the man who has practiced 10,000 kicks once, but I fear the man who had practiced one kick 10,000 times.”

Bruce Lee

I’d look at these two quotes like this to master the art of sales. Abe Lincoln is the strategy piece and Bruce Lee is the tactical piece. There is no Strategy without effective tactics and effective tactics fall down without a stellar strategy.

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Online meetings are rapidly becoming the new de facto standard.

Savvy sellers have discovered that the ability to quickly move a phone conversation online yields a richer, deeper interaction with prospects. It enables them to discuss, demo or present using a variety of resources. As a result, prospect engagement goes up, new opportunities emerge, and deals close faster.

That’s a competitive edge worth paying attention to—especially since only 58% of salespeople met or exceeded their quota last year. But right now, most sellers are barely tapping into online meetings because they don’t know how or when to best use them.

Salespeople need to be nimble and ready to pivot. In conversations, they must be able to quickly spot and capitalise on emerging opportunities. It’s even better if they can create these moments on their own.

That’s exactly what savvy sellers do with online meetings. During a phone call, when they spot a need or when inspiration strikes, they immediately suggest:

“Do you have a few minutes? How about we jump onto a quick online meeting?”

That’s sales agility at its best. The key to success with these impromptu online meetings is strategic spontaneity. Savvy sellers are prepared. They know the best times to suggest this option and they know how to do it, seamlessly. They know what they’ll ask, point out, suggest or clarify.

In short, they nail it! These savvy sellers create an “aha” moment that crystallises value and drives differentiation. When the conversation is over, they’ve established credibility, deepened the relationship and moved closer to a signed contract.

1. FOCUS ON PURPOSE

What outcome do you want to achieve from jumping online with your prospect? Always start with this question, then craft a meeting plan that supports it. The best “purposes” are typically aligned with the various stages of a prospect’s buying cycle. These are the three main ones.

Pique Curiosity. If you’re prospecting, know that more than 90% of the people you contact are reasonably satisfied with their status quo— whatever that might be. When you connect, your objective is to get the prospect so interested that they want to learn more—either now or in very short order.

Drive a Commitment to Change. Once you’ve piqued your prospect’s curiosity, their next step is to determine if it makes sense to change. This is your opportunity to help them determine their business case. It’s also a chance to explore the factors they need to consider if they do go ahead.

Close the Deal. When your prospect has decided that changing is worth it, your purpose shifts to that of showcasing why working with your company makes the most sense, provides the best value and is the least risky.

For lead follow-up, try to gauge where the prospect might be in their buying process by reviewing what they’ve downloaded from your website and the pages they’ve visited.

When you know your purpose, it’s time to identify when a “quick” online meeting can help you achieve it.

2. PINPOINT THE OPPORTUNITIES

When does it make sense to have an impromptu online meeting? Start by mentally identifying when it could be beneficial to jump online. Often visual elements are involved and referencing them while you’re talking enriches the conversation.

You might want to consider an impromptu online meeting to:

Spark a new idea. If your offering enables prospects to do something they hadn’t conceived of, pull up a graphic to trigger their thinking. You could also highlight relevant research or data that supports a change from the status quo.

Expand on concepts. Once prospects are ready to change, they want to discuss factors such as configuring the right solution and implementation issues.

Do a demo. Give your prospect a quick tour of your solution. Whether it’s an actual demo, screen shots, or animated, you can gauge their reactions.

Review in real-time. Any time there are questions or concerns re: proposals, pricing, layouts, design and more, the quickest way to resolve them is to jump online. When people post a need or comment regarding an issue you can solve, invite them to a virtual meeting. Again, they’re already online. They just need to be online talking to you!

Research shows that people remember 80% of what they see and do. Online meetings, much more than phone conversations, make you and your message more memorable and engaging.

3. ZERO IN ON VALUE

How can you get prospects to invest the time and energy needed to change from the status quo? It’s your toughest sales challenge. According to SBI, over 60% of forecast deals do nothing. That means you lose to “no decision” more than all other competitors combined.

If this happens to you, it’s likely you’ve been doing too much pitching, trying to differentiate your product/service from competitors. Forrester Research reports that only 13% of executive buyers believe that a salesperson can clearly show they understand customer business issues and articulate a way to solve them.

During your online meetings, focus in on what matters most to your prospects. Be very specific. Increasing sales and decreasing costs is far too generic. Pepper your conversations with value propositions like these:

• Increased sales productivity, enabling 30% more calls/day.
• Reduced customer churn by 2.9% in just six months.
• Stabilised workflow, eliminating 47% of overtime pay.

This is what prospects care about. This is why they’d change from the status quo. Use your online meeting to tailor the value to your buyer’s position.

Don’t get sucked into a “tell me about your [product/service]” conversation. Knowing about your leading-edge capabilities, unique methodologies and unbeatable service will not make people change from the status quo.

Instead, cut to the chase; make it abundantly clear about the value you can deliver to their organisation. That’s what gets people to buy.

4. LEAD CONVERSATIONS

How can you create a meaningful dialogue in a quick online meeting? Huthwaite’s research on 10,000+ reps in 30,000 sales calls revealed that the kind and quality of questions asked during a meeting had more impact on sales success than any other behaviour.

Asking questions allows you to showcase expertise, demonstrate concern, establish trust and build stronger relationships. Additionally, questions enable you to gauge a prospect’s level of interest, expand the possibilities, determine your strategy and find the right solution.

To take advantage of your limited time together during an online sales meeting, consider these suggestions:

Plan questions ahead of time. Brain research shows that it’s impossible to do two things at once. That’s why it’s imperative to figure out the best questions to ask and the right sequence before you initiate contact. Keep them in front of you, but feel free to go with the flow too—if it makes sense.

After asking a question, be quiet – especially if your intention is to make people think. The average salesperson feels compelled to jump in after 2-3 seconds, totally high-jacking the opportunity to learn critical information.

Wrap your questions in your expertise. Lead into them with phrases such as, “In working with other VPs of Sales, we find that …. Is this something you’re struggling with too? Or “In talking to other manufacturers, their three biggest priorities are … How do those priorities compare to yours?”

It’s your responsibility to lead the conversation—and the best way to do it is with thoughtful, provocative questions.

5. CREATE ENGAGEMENT

How can you be more collaborative? Online meetings give you a chance to interact in real time. They can be just as effective as actually sitting in your client’s office, getting a deeper understanding of their needs, and discussing their business challenges.

Here are some ideas to make impromptu online meeting more engaging:

Rather than you doing a demo, try highlighting how easy it is and pass control to your prospects. Let them do it themselves. Sampling simplicity makes them more likely to change.

Use different content. Don’t just show a presentation; change the info you share. Jump from a presentation, to a report, to a website. This on-thefly access to a variety of resources increases interest and involvement.

Bring your recommendations up on the screen and get your prospects’ input. Find out what they like/don’t like. Ask if the solution meets their needs or not— then make appropriate changes. This increases buy-in and the commitment to move forward.

Revise critical documents together. Invariably prospects want to make changes to your proposals, SOWs or contracts. It’s much simpler to actually work on the “same page” as your prospects instead of trying to talk about it. With today’s online contracts, it’s pretty easy to move from conversation to proposal to contracting.

This real-time collaboration capability is also highly useful for internal usage—especially when multiple people from your company are involved in the sales process. It’ll help you get things right before you suggest your prospect jump online for that quick meeting.

6. PICK THE RIGHT TECHNOLOGY

What’s the right tool for you to use? Today, 30.3% of sales professionals believe that the online meeting tools they’re using get in the way of sales, rather than helping. That’s not good because it reflects on your competence. The solution you choose can be critical to moving the conversation forward or closing the sale.

To select the right technology, ask yourself these questions:

How easy is it to initiate an online meeting? This is crucial. You need it to be seamless. There’s nothing worse than having to stop the conversation, figure out how to launch a meeting, send an invite, wait while your prospect downloads some software—and then runs into problems. You lose momentum, and your prospect loses interest. Plus, you get frazzled and all your best thinking evaporates into thin air.

Does it have the capabilities you need? When you start out, screen sharing might be all you need. But as you get more proficient you’ll want video capabilities. This makes you more real” to prospects, increases engagement, deepens relationships and drives more sales.

Be sure to check how easy it is to switch between the key documents, demos, or presentations that you want prospects to remember. Also, advanced users may want to highlight certain areas, swap presenters, record meetings and create presentations “on the fly” via new online whiteboarding.

What’s most important is that you select the right online meeting tool for your needs—and that it’s a no-brainer for both you and your prospect.

7. GET REALLY GOOD AT IT

Whether scheduled or impromptu, running a flawless meeting is a skill that needs to be learned. While it may be simple to do, when you’re talking to an interested prospect on the phone it’s easy to flub things up. That’s the last thing you want to happen.

Instead, you want to come across as the true professional you are.

Here’s how you can prep for the maximum impact:

Set the stage. Sloppy desktops make you look disorganized, so get yours cleaned up. Shut down any pop-up messaging too. Or, if your tool allows, select the window-sharing option in addition to full screen sharing.

Know what’s in your virtual briefcase. Being able to quickly locate the exact document, image, PowerPoint slide or resource reflects on your professionalism.

For video meetings, it’s crucial to have appropriate surroundings, de-cluttered workspaces and good lighting. Make sure your webcam mic is clear enough; otherwise, get a headset. Put your computer at eye level so you’re looking directly at the camera. Maintaining eye contact is essential for relationship building.

Do mock meetings with your colleagues. Practice logging on, sending an invite, doing a demo, passing the presenter role and re-taking control. Once you’re proficient, have a colleague role-play someone who’s new to online meetings—like a potential customer. That way you’ll be prepared for that scenario too.

Remember, your prospects judge your competence in every interaction. This is one more opportunity to prove you’re an invaluable resource.

8. FINALISE NEXT STEPS

So now you have zeroed in on business value. You’ve asked great questions. Your prospect is highly engaged. In fact, they’re oohing and aahing about what you’ve covered. It feels like you’ve nailed it.

But have you? It’s easy to get seduced at this point—especially if prospects start asking you all sorts of detailed questions. Sometimes it’s good to put the brakes on to find out what’s really happening.

Try asking, “It sounds like you’re really interested in changing. Help me understand the business case from your perspective.”

If they can clearly articulate it, find out what the next steps are to move the decision forward. Who else needs to be involved? What criteria needs to be considered? How will it be implemented? Or, suggest what you see typically happening: “Based on my experience

working with other companies, the next step is …”

If your prospect can’t articulate the business value, you’ll need to spend more time here. Again, suggest a logical next step: “Usually, at this point, we need to (engage other individuals, do more research, etc.) to determine if it makes sense to move ahead. Let’s get that on the calendar.”

Don’t leave an online meeting without a clear action step. Know what you’re doing next and get commitment from your prospect regarding their responsibilities.

9. TAKE IT TO THE NEXT LEVEL

How can you get even better leveraging impromptu online meetings? It’s great to be able to quickly jump online with a prospect, but it’s even better when you move from proficiency into mastery. Many service providers today offer the ability to record your meetings—and it’s definitely something you’ll want to take advantage of.

Initially, when you replay your meeting, you’ll find all sorts of personal flaws that will drive you nuts. You’ll hate your voice. You’ll notice every mistake. You’ll realize you weren’t looking at the camera. Note all these and work on getting better.

But then, go deeper. Ask yourself questions like:

• If you were a prospect, how would you feel?
• How was the overall flow? Did it make sense?
• Did you focus on value or get lost in the details?
• Were you able to advance the sales process? If not, what happened?
• Did you miss any important points?
• How else could you have created a better experience?

It’s a good idea to review the recording by yourself first. But that’s not sufficient if you want to really master this tool. If possible, get feedback from your colleagues or boss. Peer coaching is one of the best ways to make giant leaps in performance. Mastery is possible, especially when you get input from others.

THE KNACK OF NAILING IT

There’s great triumph in nailing an online meeting. Striking while the iron is hot enables you to quickly capitalise on an opportunity and moves you one step closer to closing the deal. It sets you apart from competitors, deepens credibility, crystallises value and builds relationships. It can even create new opportunities that didn’t exist before you said:

“Do you have a few minutes? How about we jump onto a quick online meeting?”

As we’ve shown, the key to successful impromptu online meetings is being planful and prepared— strategic spontaneity. That’s what sales agility is all about.

Start by picking just one scenario where an online meeting could add value to your sales process. Then, review the suggestions in this article, and get going. You’ll get better as you experiment with this tool. You’ll have richer interactions, greater connections and even more opportunities. Before long, you’ll be nailing it all the time too.

The post 9 Strategies To Improve Online Sales Meetings And Close More Deals appeared first on Head Of Sales.

Without meaning to, my friend Jeb Blount created quite a clamour on LinkedIn. The poll he posted asked which medium to use first in a prospecting sequence: phone, email, social media, or an in-person visit. He argued (and I agree) that the phone should start your sequence. The reason is simple and straightforward: if the person who answers your call agrees to a meeting, you no longer need a sequence.

The comments on Jeb’s poll were both revealing and incredibly disappointing. Cold calling has consistently been a lightning rod on social media, with a few salespeople advocating for an “all of the above” approach, including the telephone. But I want to set aside that debate for a few minutes, because the comments highlighted a much larger potential threat: fear of sales.

The Mass Infection of Fear

One vocal opponent of cold calling, an entrepreneur, commented on Jeb’s thread that his approach was to buy ads on Facebook, providing a link that a prospective client might click on. Only after the prospect clicked the link did this person believe he could reach out them. The problems with this approach would overflow a week’s worth of posts, so in the interests of time I’ll just note a couple. First, one-to-many messaging is marketing, not sales. Second, no individual salesperson has a Facebook pixel and a budget to run ads. Relying on Facebook ads may be the right choice for entrepreneurs but its awful advice for a salesperson. What’s underneath that advice, however, is worse: the entrepreneur was too afraid to call his prospective clients.

Other comments suggested that one must warm up the prospective client by sending them an email, claiming that it is important for the client to see your name on an email before they get your call. To be honest, I’m having trouble following that logic. How exactly does getting a cold email create the desire to speak to the person who sent it? Unless you spend your day starting at your phone, hoping against hope that the people who just spammed you will call you to spam you again, then you cannot possibly believe that an email makes it safer to dial a prospect’s number. And there’s the rub: when email-first salespeople talk about safety, they broadcast the same fear of calling a stranger. An odd thing, that, given that every good thing that ever happens to you in sales is the result of meeting a stranger.

Finally, one person suggested that the best way to start a prospecting sequence is with a warm referral. His response gave a very long explanation of how to respond to an introduction over email or on LinkedIn, again emphasizing the asynchronous communication tools that so many salespeople hide behind. The same people who are afraid of calling a stranger are also reluctant to call up their clients and ask for a referral. They worry about imposing on their client, so they avoid asking for the referral in a real conversation and instead defer it to email.

With all this fear floating around, here’s a reminder: no salesperson has ever been scarred for life by making a cold call, although many have experienced incredibly negative consequences because they didn’t create enough opportunities.

The Long-term Harm of Fearing Your Clients

There are deleterious effects of teaching salespeople to fear their prospective clients. If a ten-minute phone conversation is so dangerous, then I can only imagine how much the salesperson should fear advising the client on what they need to do to improve their results. And just imagine those poor salespeople working on big deals, with multi-year, multi-million dollar payoffs, the kind that require the salesperson to negotiate with the client, or worse, their purchasing department. Terrifying, I tell you. Just terrifying.

This fear-based approach goes hand in hand with the idea that marketing is responsible for creating sales opportunities and that sales appointments should be handled by crude robots. Conflict aversion is harmful to the development of a salesperson, simply because embracing conflict is the only way to make a positive difference for your clients. No one is ever going to find a compliant, conflict-averse, namby-pamby, order-taker to be consultative, nor will they ever find them to be a trusted advisor.

What makes one a trusted advisor is their willingness to tell the truth at any price, even the price of the deal. The need to be liked is not the same as being likable. The first is detrimental, the other is an advantage. But the advantage of being likable is not available to one who fears their client, especially when it prevents them from having the necessary conversations around change.

A New Hope

In my view, the new hope is the SDR. While salespeople in this category are rarely deployed as effectively as they should be, at least they aren’t being infected with the result-crushing belief that they should fear making a phone call: cold, hot, or indifferent. Their willingness to keep making cold calls will help them develop crucial character traits for sales effectiveness: comfort with conflict, understanding how to trade value for time, unafraid of proposing next steps, able to handle objections, and unaffected by what others would call rejection.

For a long time now, I have been telling sales leaders to prioritize the development of their sales force. Those who take this advice are doing well. Those who don’t often arrest their salespeople’s development, whether it’s by giving into fear or falling for other get-out-of-work-free promises by faux-experts—few of which even consider the long-term effects of their decisions or recommendations.

Do Good Work:

• Look for advice that serves your results.
• Avoid people who would infect you with their fears.
• Never be afraid of calling anyone when you believe you may be able to help them—even if they reject or ignore you.

The post The Fear And Generational Shift Against Cold Calling appeared first on Head Of Sales.

So how can you ensure it’s a success? By studying and replicating what top sellers are doing. To start, top sellers spend lots of time preparing for this critical first meeting. They research their prospects in depth. Then, they scrutinise the research looking for ways that they can add value with their products or services.

Here are three critical reasons why most sellers don’t ever make it past the first meeting:
1. They don’t invest enough time preparing for the meeting.
2. They don’t understand the components of an effective initial sales meeting.
3. They focus on their own offering—not the prospective customer’s business needs.

For these reasons, prospective buyers will respond in the following ways:

“Thanks for your time; if we ever need one we’ll give you a call.”
“We’ll think about it and get back to you.”
“It’s not exactly what we were looking for.”

What steps are necessary to pass the first test with an important account and get invited back for a second meeting?

STEP 1 – CONDUCT PRE-MEETING RESEARCH

Prior to meeting with a prospect, it’s critical to invest time understanding their business. Start your information gathering and planning early enough to give you time to create an effective meeting plan.

Start by checking out their website. Look at the “about” section; that’s where companies list important announcements and post financial results. Read the company’s annual report to identify where they’re headed and what their future priorities are. Do an online search for recent articles about them in the press.

Then, go to LinkedIn to find out about the people you’re meeting with. What are they responsible for? Do you have any connections, interests or groups in common? Look for other people you can meet with too; you never want one person to be your sole lifeline for a sales opportunity.

If the person you’re meeting with contacted your company, check out what they’ve done on your website. Did they download any special reports, watch any videos, etc.? Use this context to plan your approach.

Here are seven things to look for while you’re doing research. They’ll help you understand your prospect’s business better.

Primary business: What industry are they in and how do they help their customers?

Business unit/division: How is the company divided? What is the role of each division? Where’s the best fit?

Market segment: Who is their target audience? What characteristics make up their ideal customer profile?

Financial position: Are they growing or shrinking? Borrowing money or cash rich?

Their customers: Who are some of their customers and what are their success stories?

Key strategic initiatives: What specific objectives are they trying to achieve?

Industry trends: What is the growth pattern in the industry? How are the buying patterns changing?

STEP 2 – DETERMINE YOUR POSITIONING

After completing your research, identify where you might have a positive impact on your targeted company. While it’s tempting to say that there’s no way to know until you have a conversation, that’s not the way it works anymore.

Today’s busy, savvy and well-educated buyers expect you to have some idea of the difference you can make prior to meeting with them. And, while you can’t know the specifics of how you can help them, by doing the research you’ll have some good ideas.

The key is to leverage what you know from working with similar companies to set the stage for your conversation and your questions. You need to bring fresh ideas, insights and information to the meeting. When you do, your prospects will be more than willing to do a needs assessment with you. But they need to know you’ve invested time learning about them before they open up to you.

Based on your research of your prospect’s organisation as well as similar companies, think about these questions:

• How are they handling things today without your product or service? What is their status quo?
• What kinds of problems or challenges might they be facing because of how they’re currently doing things?
• Because of their current status quo, what gaps might exist between where they are today versus where they want to be?
• Looking at the problems, challenges or gaps that may be present, what are the potential business implications? (This is important!)
• If this company used your products or services, what business value would they realize? (At this point, it’s a guess. But, if you’ve done your homework you should have some ideas.)
• What difference could your product or service make? (Net it out to the best of your ability, making sure you’re focused on key business drivers that your prospect is measured on.)

STEP 3 – PLAN YOUR QUESTIONS

Good questions are one of the best ways to demonstrate that you’re committed to helping your prospect achieve their goals. They show you care about them, which is important because most people think sellers only care about their commissions.

You’ll want to ask questions that:

• Uncover info about your prospect’s objectives as well as the status quo relevant to your product/services.
• Identify (or confirm) issues, problems, difficulties and obstacles they’re facing that would prevent them from achieving their goals.
• Determine the business ramifications of these challenges.
• Explore the business case for making a change

STEP 4 – DEFINE THE MEETING OUTCOME

As a result of this meeting, what is the logical next step? Research into sales success shows that if you’ve defined an appropriate desired outcome prior to the sales meeting, you’re much more likely to achieve it.

While you might want to walk away with a signed contract, the likelihood of this happening from just one meeting is slim to none. So don’t set yourself up for failure; plan on having multiple conversations from the beginning.

Think process. Today’s buyers don’t make snap purchase decisions. First they need to determine if it’s even worth the effort to change from what they’re currently doing. They’ll likely involve multiple people in this discussion. And, unless it makes good business sense, they’ll stay with the status quo.

Once people decide to change, they need to look at multiple options to ensure they make the right decision.

Use your typical buyer’s journey as a guideline for determining the appropriate and best outcome for your meeting. Here are some “next steps” that you could suggest:

• Meeting with another person involved in the buying process.
• Analysis of a specific situation or problem.
• Demonstration of your product or service.
• Proposal with your recommendations.

STEP 5 – PLAN THE MEETING AGENDA

Good meetings focus on your buyers and what’s most important to them—not your product, service or solution.

The following meeting agenda works well for both in-person or phone conversations. Thinking about what you’ll do ahead of time matters. It gets you clear on where you’re headed. It ensures that you stay on plan and on message, which is exactly what it takes to advance to the next step.

Strangely enough, it also enables you to be more flexible during the meeting. You can be curious about new information you learn, without losing track of where you’re ultimately headed.

Use this sample agenda as a guideline, not an absolute. The timeframes below assume a one-hour meeting.

(1) OPEN THE CONVERSATION (5-10 MINUTES)

Buyers don’t have a lot of time for meaningless chitchat and relationship building these days. Be cordial and friendly, but business-focused at all times.

Make the introductions

Take a few minutes to learn about the responsibilities of the people in the meeting. If others are present, make sure to introduce yourself and learn their names. Find out why they’re attending and what interests they have relative to the business issue.

Confirm times and agenda

Before you get started, double check to see if times have changed since you set up the meeting. If your prospect has to run into an urgent meeting in 30 minutes, you need to adjust your game plan or reschedule for a future time. Reconfirm the purpose of the meeting also to ensure there are no misunderstandings. You might say, “As I explained earlier, we work with high tech firms to increase brand awareness and drive sales. In our time together today, I’d like to give you a little background on how we address these issues, find out what your company is doing in these areas and see if we have grounds for further discussions. How does that sound?” Notice the professionalism and leadership in this overview. It shows that you have a clear plan for the meeting. Buyers feel better immediately; they know their precious time won’t be wasted.

(2) LEAD THE DISCUSSION (40-45 MINUTES)

You want to create a dialogue—not make a pitch. Lay the groundwork by sharing information of high interest to your prospects. Then invite them into a discussion by asking questions that make them think.

Set the stage (5 minutes)

Your prospects will need more grounding about what your company does than the brief one-sentence description given above. When you arranged the meeting, something you said was enticing to this person.

Now is the opportune time to give a brief overview of the business results a specific client achieved with your product, service or solution. Explain the challenge your customer faced, how you helped them, and the results they achieved. Also share your position statement—your insightful ideas on how you can make a positive impact on their business.

Transition to questions (less than 1 minute)

As quickly as you can, shift the focus to your prospect—where it belongs. To do this, simply say, “That should give you a good overview about how we help our customers solve their problems (or achieve their objectives). The most important thing is to find out if this makes sense for your company. In preparing for today’s meeting, I noticed that (insert data re: company’s direction, trigger event, other info uncovered in research). I was wondering how …” Unless you plan your transition, it’s sometimes hard to stop talking—especially if your prospect is goading you on with questions about your product or service. Please realize that this most likely means they’re trying to rule you out. That’s why you need to lead the conversation and why effective transitions are so crucial.

Focus on business issues (35-40 minutes)

Prior to the meeting develop a minimum of ten insightful, powerful questions you can use to lead a business-focused discussion. Decision makers are always interested in talking about their business.

They wouldn’t be taking time to meet with you unless they truly wanted help solving their problems or achieving their goals.

Have the questions handy so you can refer to them. Your prospect will be impressed by how well you’ve prepared for the meeting. But don’t give them the list of questions or they’ll just rattle off the answers.

Ask your questions in a conversational manner—not like a schoolteacher giving an oral test. Questions build relationships, establish rapport, demonstrate your competence and show that you care.

Remember, this is a discussion—not a sales pitch. Listen to their answers. Be interested. Learn as much as you can. Take copious notes of everything that’s said —not just the parts you find interesting.

Always LEAN BACK. The moment you move forward, you’re pitching. The discussion is over and the push is on. Your prospect immediately puts up defensive barriers and raises objections. Getting the sale is going to be infinitely harder unless you immediately recover and get back into the discovery mode.

(3) ADVANCE THE PROCESS (5 – 10 MINUTES)

When you focus on questions, your one-hour meeting flies by. Even if your prospect seems oblivious to the time, it’s important not to overstay your welcome. Draw attention to the clock. See if you’re invited to stay longer. If not, it’s time to wrap up and advance to the logical next step.

Summarise your understanding

Since it usually takes multiple sales meetings to close a deal, don’t try to share everything you know, ask every question you want answered or hand out every piece of collateral in your briefcase at the initial meeting.

Instead, show your professional expertise by summarizing what you learned about their critical business issues and the value of resolving them.

Do not, under any circumstances, get into a discussion about your product or service. This will be the hardest thing in the whole world for you to do, but it’s essential. Remember, buyers don’t really care about your offering—only what it can do for them. They also realize that in a short one-hour meeting, you can’t possibly offer them a well thought out solution. They don’t expect one.

Suggest the logical next step

Then, without making a big deal of it, simply recommend a good option to move the process forward. This is the logical next step you were working toward from the onset.

You might say, “Usually when I work with companies on product introductions, the next step is to have a conversation with the product manager to get a better understanding of the launch plans already in place and where gaps might exist. Can we get a meeting set up with this person in the next couple weeks?”

If you’ve had a good discussion, it’s highly likely that your prospect will have already suggested a next step. If so, great! Get it on the calendar.

If your prospect missed an important step, offer it up as another idea: “Ms. Biggie, I’ll get going on your recommendation right away. Also, based on my experience, we need to talk with the IT department as well. Can we get that set up, too?”

Ending meetings like this advances the sales process to its next logical step. It’s honest and full of integrity. It’s just simply suggesting the next logical thing that you both need to do to determine if your offering is a good fit for their business.

The post 5 Steps To Master Sales Meetings appeared first on Head Of Sales.

Sales Directors, are you often at loggerheads with your marketing counterparts, being questioned about leads, MQLs, SQLs? Do you wish the conversation would shift to marketing helping you generate pipeline and revenue? If so, Account Based Marketing (ABM) could change your life – but a word of warning – it is not suitable for every organisation.

We are seeing ABM playing a strategic role in delivering growth and innovation here in Australia, but it requires close cooperation of business, sales and marketing leadership. Why? The overall business strategy forms the North Star for any future ABM programs.

This article aims to help you gain a basic understanding of “if” and “how” you and your Sales teams can benefit from ABM.

Sales Directors – how to help your marketers help YOU?

Account Based Marketing is a slightly outdated name for what we now see more accurately described as ABE “Account Based Engagement”.  What’s the difference between ABM/ABE and the traditional B2B marketing approach?

• Traditional B2B is about reaching your total addressable market and generating individual “leads”.
  
• ABM focuses time and resources on a handful accounts with high revenue potential – consistently developing and nurturing relationships with multiple stakeholders across the account – over time. ABM/ABE is about achieving the “Collective yes”.
  

Another major difference lies in the approach: ABM is NOT something marketing “does to sales”. ABM is all about close Sales and Marketing collaboration throughout the process. This is often the biggest hurdle to remove when starting with ABM, as the two organisations sometimes tend to operate in siloes.

ABM enables modern B2B marketers to play a strategic role in delivering revenue growth and innovation but demands a lot more of them – to be successful, marketers need to understand not just the value proposition, but also your sales cycles, processes, points of entry, barriers, and more. This is a great opportunity for Sales to open channels of communications, mentor your marketers and bring them into the fold – believe me, they will enjoy being part of the Pipeline and Revenue generating gang! What can you do to help?  Firstly, start including your marketers in your Account planning, QBRs, some forecast calls, and wherever possible – have them present during conversations with customers and prospects.

Understanding each other’s challenges will make it much easier to align your KPIs and to collaborate. 

ABM – what it is, what it is not

While there are a few interpretations of ABM, the main objective is very clear: Generate revenue & increase footprint in Target Enterprise Accounts, by growing relationships, reputation & trust. After practicing ABM for 7 years here in Australia and New Zealand, my short definition of ABM is as follows:

“Account Based Marketing helps companies that sell complex solutions into Large Enterprise space focus their time & resources on developing relationships & trust in accounts that matter most.”

ABM harnesses deep account and contact insights to design tailored value proposition, treating each account (or an Account cluster) as market of one.

It is a LONG term, coordinated account centric approach to marketing and sales.

As ABM-ers, we are:
1. Focusing on few significant accounts that best resemble our “Ideal Customer Profile”.

2. Enabling Sales to engage, develop relationships and influence the entire decision-making committee.
“Lead” is a dirty word.  In ABM – we are focusing on ALL decisionmakers and influencers in the decision-making committee. Why? The inability to build consensus within the buying committee is likely to be a major obstacle to closing complex deals.

3. Tailoring marketing initiatives around client insights and their strategic objectives.This requires a deep research at an Account and Contact level – what are the strategic goals our solution can help solve at an account and individual level? What are the contacts’ KPIs, drivers and personal preferences? How can we incorporate those in our sales reach out, so that they resonate with the recipient well enough for them to let us build a strong relationship?

4. Marketing & Sales collaborate closely throughout the sales cycle to increase deal velocity and size and the Life-time value of the account. ABM is a team sport, and success is largely dependent on the quality of intel exchange and collaboration and ability to orchestrate initiatives based on the Target Account current needs.

Is ABM a good fit for your organisation?

It is proven that ABM can deliver substantial ROI by building trust, relationships, and reputation in high value accounts. But is it the silver bullet that will work for everyone?

The answer is no – ABM is certainly not a good fit for every organisation. Why? For ABM to deliver ROI, certain criteria must be met:

1.  You are selling complex solutions to Enterprise accounts (high value accounts)
2. Your sales cycles tend to be long and you are engaging and influencing multiple stakeholders (decision making committee).
3. Your deal size (or potential revenue) is large (in ANZ, typically 500k+) to justify the investment.

If your sales approach is largely transactional and you do not see a need to develop strong, long-term relationships in the organisations you are selling into, ABM is most likely not the right fit for you. In fact, using ABM in a transactional sales environment is a waste of time, effort, and resources.

Measuring success – how do we know it is working?

Since Marketing and Sales KPIs are aligned at the start of the ABM process, it is incredibly easy to measure success. As the picture below illustrates, we track the number of total opportunities, pipeline and revenue generated from ABM target accounts.

As you know, working with large Enterprise accounts with long term sales cycles (for example: a software platform solution for FSI vertical, with deal value between $3 and 15 million, with average sales cycle of 20 months), results will not appear overnight. We recommend setting up also interim KPIs related to improving relationships with key decision makers. You can measure increase in engagement, quality of relationships, penetration into new BUs etc.  

3 key takeaways:

1. Your overall business strategy is the North star of your ABM – if ABM is the right fit for your organisation, it provides a substantial opportunity to deliver revenue from high value accounts.
2. Marketing and Sales collaboration is crucial to the success of ABM.
3. Forget “leads”, revenue is the result of strong relationships and trust. ABM enables Sales to effectively engage and develop relationships with key stakeholders across the entire decision-making committee.

Hopefully this article has brought some clarity and basic understanding of ABM and whether you and your teams can benefit from it. ABM is a long term, coordinated account centric approach to marketing and sales, not a tactic, campaign or a sales method.

The post ABM – The Zero Waste Strategy For Revenue Growth appeared first on Head Of Sales.

Here are 7 of the best formulas that boost email reply rates. Each example highlights the language that shows each formula.

(1) Before-After-Bridge (BAB)

Before! Here’s your world now
After! Imagine what the world would be like if you solved this problem
Bridge! Here’s how to get there

Copy template below to email

(2) Problem-Agitate-Solve (PAS)

Problem! Identify a pain point
Agitate! Agitate that pain point
Solve! Offer a solution

Copy template below to email

(3) Star-Chain-Hook

Star! The big idea
Chain! A series of facts, sources, reasons, and benefits
Hook! The call to action

Copy template below to email

(4) Attention–Interest–Desire– Action (AIDA)

Attention! Grab the reader’s attention
Interest! Make it personal to engage their interest
Desire! Build desire for what you’re offering
Action! Ask for a response

Copy template below to email

(5) The 3-B Plan

Brevity! Keep it short
Blunt! Get to the point
Basic! Keep it simple
Give the reader a clear sense of who you are and what you want from them.

And get to the point quickly

Copy template below to email

(6) Praise-Picture-Push (3P’s)

Praise! Open with a sincere, respectful compliment
Picture! Use cause-and-effect reasoning to paint a picture describing how your product/service/idea will deliver
Push! Ask them to commit

Copy template below to email

(7) Awareness-Comprehension- Conviction-Action (ACCA)

Awareness! Present the situation or problem
Comprehension! Describe how it will impact them
Conviction! Create desire by explaining how your solution fixes the problem
Action! Ask for a response

Copy template below to email

Sourced from the e-book “10 Cold Email Formulas That Just Plain Work” produced by Yesware.

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Most salespeople would be engaging with Josh and concentrating on how to get to Sarah.

They may just call around Josh or even ask Josh to include Sarah in the meeting. Basically, their emphasis and focus is on connecting with Sarah.

This way of thinking will lose sales.

Essentially, the person your salespeople are actively engaging with is the first decision maker. This is the juncture where most salespeople fall short. They don’t accept this first contact person as a decision maker at all. In fact, ‘ole school’ will tell you to get around this person, go above this person – do all to get to the ‘real’ decision maker.

Josh is aware of their intent by their body language and tone, and probably earlier in the relationship they may even have asked ‘who is the decision maker’ (implying ‘it doesn’t sound like it’s you’). And therein lies their error. The salesperson doesn’t get the business. Even their boss says ‘it’s because you didn’t get to the decision maker’ reinforcing that was the sole person to focus on.

By accepting that Josh has been assigned to find a supplier, we need to recognise Josh as the decision maker, because, he actually is. We refer to him as a KPI – Key Person of Influence – and at this point we respect that he is making the decision, realising that it is his judgement that will determine what final proposals will be put forward.

Sales Proficiency: All done in conjunction with being the absolute professional which means doing the following:

Due Diligence

Combing the client website and Li for all that the company is posting about: what’s their philosophy and mission, what interests Sarah (noting her profile, her posts).  We might see she values ‘integrity’, as it’s scattered across much of her posts and profile. As our company holds and is renowned for the same values – it’s a core mission statement –  you may decide to run a campaign to demonstrate that point. It needs to be genuine, honest and authentic. Not forced or fake.  That means you will post about it and repost your company’s related articles. If you post about something that’s of relevance, you may decide to message and highlight this to Sarah– assuming you are at a relationship point where that’s acceptable.  ‘Hi Sarah, today I posted about the top 3 things to look out for when training your team on xyz, I hope it brings you value (happy to share the link or email you the fuller article)’,

Reach out to shared contacts, is there anyone else respectful that we know who works in the same company. Could we engage with them? They may be able to relay a good word (to both Josh and Sarah).

Authority

Being the authority in your field, the subject matter expert – this is a mindset thing – are you standing tall and confident and have certainty (not feeling ‘lesser’ or subservient)?

Preparation

As part of our meeting prep, research and due diligence, being mindful of:

Intent is there to help (not ‘sell at’).

How you turn up: are you early, looking prepared, using the right language?

Listening: great salespeople do less talking and more listening to truly understand.

Questions

Asking the right questions, questions that no other supplier has asked – thereby understanding the client and their situation better than anyone else. Great questions loop onto further insightful, intelligent questions no one has yet asked which leads to a heightened understanding, such that at one point the energy shifts and Josh will lean in and say ‘yes, good point – can you help with that’.

Trusted Advisor

Having earnt that right you can be in a position to guide and educate them on what they need to consider, what other options there are etc.

Transfer

This is when Josh realises you know your onions and he willingly, and because it feels natural now to do so, will introduce you to Sarah

Behind the scenes

Josh will be deciding who is the right supplier, based on many key factors, of which price is rarely one of them. In fact, it often holds the lowest rating. Typically, it’s about looking for someone who is an expert, who will be reliable, that can be trusted, who does what they say they are going to do. It’s important to realise this, as many reps promise something (say, an email or first draft proposal) then are late – which would be giving Josh the impression that they are already falling short in their commitment, and if unable to follow through at this vital point, a time when they should be all over it, creating doubt that things are hardly going to improve once the business is on board.

Summary

The focus of your efforts is about being the authority, being prepared and being professional the whole way through – not just pushing to meet with the ‘person behind’.

Read more about Business Development in our 6 Steps Business Development check list.

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