Jan 29, 2019
Takeaways
- Systematize Your Follow-up: I’m sure you’ve heard the phrase “persistence pays” many times. Well, I hope they were talking about sales, because it couldn’t be more true. I’ve read startling stats that say on average, a sales rep will only reach out to a prospect two times before giving up. That just seems ludicrous to me. Even if your company doesn’t invest in software for you and regardless of whether they’re an active opportunity, a warm lead, or a brand new cold prospect—find a way to build a process around your follow-up. After every touch you have, immediately schedule the next touch. If you use Salesforce, Hubsport, or even PipeDrive, you can run a report to show you any contacts that don’t have a next activity associated with them. Don’t lose deals because you simply didn’t follow up.
- Understand the Emotion Associated with the Problem: Will asked the great question, “How can I be empathic, when I never even get emotion from a prospect?” In order to be able to either elicit an emotional response from a prospect or pick up on their pain, you have to fully understand the emotion that typically surrounds a problem they’re trying to solve. You may hear them say they spend 15 hours looking at a spreadsheet, and yes, knowing that’s a trigger, it’s your responsibility NOT to just get the point, but dig deeper. Don’t ask them what they’re going to do about it, ask them what else they would be spending that 15 hours on if they didn’t have to use it staring at a spreadsheet. This understanding will allow you to build a real relationship with your prospects because they’ll feel like you get them as a person.
- Build the Business Case: If you sell in a known competitive environment, why not do some of the work for your prospect and build the business case for them? Most likely, they will have gone through a sales cycle for your product or service only once, whereas, you go through it 10 times a week or more. You know the common issues, you’re familiar with your competitors and their offerings, and you’ve heard your prospect’s specific challenges. Document all the requirements, show them their options, point out potential roadblocks—both with your product and your competitors—and then back up the data with reviews or client references. Taking the weight off their shoulders and providing the grading rubric can give you more influence over the deal.
Full Notes
Book Recommendations
- The 7 Habits of Highly Effective People by Stephen Covey
- Influence by Robert Cialdini
- How to Win Friends and Influence People by Dale Carnegie
Sponsor
- Costello - What if every sales rep inherited the habits of your best rep? With Costello, they do.
Jan 22, 2019
Takeaways
- Make Planned Calls, Not Random Calls: For many people it doesn’t take long to realize that quality over quantity matters. For example, sometimes it’s not about how many calls you make. It’s about making planned calls that target specific prospects. Instead of working your way through a list and starting over at the beginning, make calls to the same two or three prospects in the same account on the same day.
- It’s Hard to Say No to Someone Personally: Face to face communication is huge and while you may not be able to personally meet all of your prospects at conferences, you can introduce yourself by video. It’s friendly and personal and offers you a different way to open up conversations. It’s really hard to say no to somebody when you see their face and they are more humanized.
- Ditch the Buzzwords and Generalities: Quit trying to make everything scale. Paul Graham wrote a great blog post all about intentionally doing things that don’t scale. When you try to stuff a script with all the features and benefits of your product while combining that with every possible use cases you solve, you end up appealing to no one. Try to bucket your prospects into groups of known challenges and then speak directly to them in the phrases they use to describe the problem needing solved.
Full Notes
Book Recommendation
- Executive Presence: The Missing Link Between Merit and Success by Sylvia Ann Hewlett
Sponsor
- Costello – What if every sales rep inherited the habits of your best rep? With Costello, they do.
Jan 15, 2019
Takeaways
- Disqualify Early: If you want to save both yourself and your prospect time, then it’s your job to disqualify them as early as possible. Now, if you have a weak pipeline or don’t like prospecting, I know you will hang on to every opportunity like it’s a bar of gold, but it’s likely costing you. Instead of trying to figure out every possible way your product could work for them, focus in on the two or three things that would make it not a fit, and be transparent about it. Doing this will allow you to spend more time working deals that can actually retire your quota and earn you a commission instead of promising your VP that the deal will come in.
- Pick Your Path: If you are a star in sales and find yourself regularly hitting or even exceeding quota, don’t think that the only next step for you is to become a manager or even VP of sales. The skills you need to train, manage, and get the best out of other reps is completely different than the skills you’ve worked hard on developing. Additionally, more often than not, you’ll also take a pay cut in order to get those new found responsibilities.
- You Don’t Have to Be the Best: In the 80’s, the car rental company Avis rolled out a brilliant ad campaign claiming to be #2 behind Hertz and claiming “we try harder.” How many times have you claimed your product or service to have the best this or the greatest that? Here’s the deal, it’s annoying as hell and is often met with an eye roll you can’t see. Plus, how do you know? Because your marketing department told you so? Instead of leading with arrogance, acknowledge that there are other solutions out there and your goal in the conversation is to determine the reals needs of the prospect and promise them you’ll try harder.
Full Notes
Book Recommendations
- The Transparency Sale by Todd Caponi
- The Grapes of Wrath by John Steinbeck
Sponsor
- Costello - What if every sales rep inherited the habits of your best rep? With Costello, they do.
Jan 8, 2019
Takeaways
- Differentiation is Key: Most of us want to believe we’re not selling a commodity, but having been on the buyer's side of the table for several SaaS platforms lately, I assure you, each demo starts to blur together because the features are all so similar. Figure out how you can differentiate yourself from your competitors not only in what you sell but how you sell. Unless you’re the founder of the company, I know you don’t have control over the product itself, but tailoring your pitch to only the things your prospects care about is one easy thing that will help you stand out above the rest.
- Harness Your Fear: Fear comes from not knowing what’s on the other side of a situation. But the last thing I want for you is to be afraid and not even know why. Think about all the situations that have, or continue to, limit you on a daily basis. What is it that you’re actually afraid of? Write it down. Then, think through the different ways you can mitigate that outcome. What can you do to remove those vulnerabilities by preparing for each obstacle?
- Tell Your Prospects What You’re Doing: People don’t want to be manipulated or even feel like they may be. In sales, it’s very easy to be perceived this way. Corn called it social engineering, but it’s all the same. Let your prospects know you’ve done your homework and will be using the information you’ve found about them to add value to the sales process. With all the privacy headlines in the news right now, being forthright about what you know can actually relieve potential anxiety that you just consider par for the course.
Full Notes
Book Recommendation
- You Are Not So Smart by David McRaney
Sponsor
- Costello - What if every sales rep inherited the habits of your best rep? With Costello, they do.
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