Today, our customers are bombarded with sales, marketing, and advertising pitches from companies all hoping to win their business. They’re overwhelmed, or, in most cases, they simply tune us out. So, we try to reach as many potential customers as we can, but we spin our wheels and end up stuck in the same place, week after week, month after month, or year after year.

The problem? We’re not sure who we’re trying to reach. Many of our potential customers view their time as their greatest, most valuable asset, and so should we. We can protect that asset by having a clear understanding of who our target customer is.

Identify What a Zebra is

In order to hone that understanding, we have to begin with first identifying our “Zebra,” or our ideal prospect persona.

We can do that in three easy steps:

1. Begin by segmenting our business’s book into thirds. For most companies, that top third brings in 90% of the company’s revenue. They are generally the best clients.
2. Look for common traits and demographics in that top third. Ask questions like:

·      What do these customers have in common?

·      What industry are they in?

·      Who is our main point of contact?

·      How do we contact them?

·      What is the size of their organization?

Having the answers to questions like these helps identify other potential customers in the market.

3. Once we know what traits we’re looking for in that top third, we should commit 2/3 of our time to looking for, or attracting, customers from this group.

Identify What a Zebra Isn't

Of equal importance is to know, and clearly articulate, what isn’t a Zebra for us. If we know who doesn’t fit our ideal customer persona, we’ll bring clarity to our network and prospecting efforts, and again, continue to value time as our greatest asset. Here’s why it’s important to know what a Zebra isn’t:

1.    We eliminate ambiguity

Introductions have been proven to be the No. 1 way that top producers grow their business. But if we aren’t specific about who we serve best, it’s hard to get those introductions. We need to be specific and clear about what type of zebra we serve best.

2.    We reduce frustration with our Centers of Influence (COI)

We want to capitalize on our COI’s relationships, but if we’re not crystal clear with who we’re looking for, our COI may make an introduction to someone we can’t help. When working with our COI, it’s helpful to articulate the type of business or individual we’re looking for, along with what we’re not looking for and why.

3.    We reduce our opportunity cost

Our opportunity cost is what we’re not working on that might have been more viable for our organization. If we’re calling on Company ABC, we’re not working on Company XYZ. Are we losing out on better business, because we’re not calling on the right prospects?

If we know what we don’t want and the reasons why, it might reduce the quantity of opportunities in our pipeline, but the quality will increase dramatically. 

Cultivating Zebras

Once we’ve determined which customers are and aren’t Zebras, we need to understand the best ways get in front of them and build relationships.

Start by doing some research.

Should we call or email them?

What is their preferred social media platform – LinkedIn, Facebook, or Twitter?

Knowing how and where to reach our target persona will positively impact our ability to hunt, qualify and discover potential new business. Undoubtedly, our most effective approach is to utilize the relationships we have with our top third by asking them to introduce us to others they know, who will most likely fall into that ideal customer profile.

It takes work to find these prospects and then contact them, but it’s well worth the effort. Our chances of success are now much higher because we know we’re reaching the right audience, the Zebras who become our best clients. 

I drive a Ford Explorer.  Most of the people that ride with me, except my friend Jerry Barron, think I’m a good driver. Not only do I drive well, but I know my vehicle, how to maintain it and how to make adjustments to my driving and the vehicle when necessary.

However, all the enhancements in the vehicle won’t keep me from crashing if I fail to turn into the slide instead of against it, or if I fail to ‘tap’ the breaks when I hit a sheet of ice on a frozen bridge.

The same is true for Fintech.

There is an article in The Investment News from October 8, 2018 written by the President of the Financial Planner Association discussing a survey of top advisors.  Here are the highlights:

• A survey of 300 advisors found that only 15% possess enough of the three traits that qualify them as behavioralist. Those traits are:
  • Will
  • Skill
  • Means
• That group outpaces the general planning community in net growth rates, referrals and percentage of clients that would refer their advisor.

There should be many questions that stem from this study for Sales Managers, VP of Sales, Sr. Sales Executives or Program Mangers.  This study applies to anyone leaning on technology to turn a lethargic sales team into a high-powered, no limit, fully functioning sales machine.

Understanding Behavioralist Traits:

• Will: will to do what? I would suggest that fundamentally there are 5 contributing factors to ‘will’ that a business development person – sales rep, producer, broker, banker, agent or advisor –must have:
  • They have to have the will to succeed in selling. Not just the will to succeed, but the will to succeed in selling. 
  • Selling requires significant desire and commitment, taking full responsibility for outcomes (no excuse making) and a high level of motivation and a positive outlook.
• Skills: what skills? The best way to answer that is to answer this question:
•  
  • When your salespeople fail in their role, why do they fail? I don’t just mean those that you exit from your company but also those salespeople that occupy the bottom 3/5s of your sales team and represent less than 30% of total sales generated. Is it because they lacked the skills to operate your CRM, word, excel? Did they fail to understand the technical aspects of your business?  Did they fail to execute the compliance requirements?
  • Based on the dozens of Sales Improvement and Effectiveness Analysis we’ve done over 25 years, the reason that salespeople fail is because they lack the appropriate competencies/skills for:
    1. Prospecting, hunting and generating new leads
    2. Consultative selling

• Strong presentations skills:

1. Quickly developing trust and confidence
2. Selling Value
3. Qualifying

• Closing

• Means: have you provided them the ‘Fintech’ or sales enablement tools to help them succeed, provide greater information and business solutions to clients, give them an unfair advantage in the market place? If so, what has your ROI analysis told you? Has the investment met expectations?
  • In a recent discussion with a regional manager for a large regional financial institution, we discussed three sales enablement tools that are available to the producers to enhance the client experience. When attempting to correlate the use of the tools and their success there was no direct correlation. Those at the top use the tools and use them well, as do those at the bottom
  • What we do know is that in the 9 months we’ve worked with the group to improve performance management skills and coaching skills, the group is experiencing a 39% increase in revenue year over year.

What am I trying to get to?

You could deliver to my door tomorrow the most advanced automobile in the world.  It can have all the technology bells and whistles and the most powerful engine ever made.  And you could take me to Kentucky Speed way and tell me to have a go.  Chances are I won’t leverage all the AutoTech available. And chances are, if I attempt to make the turn to high, to low, to fast or to slow – I’m going to crash and it has nothing to do with the technology.

Today's blog turned vlog comes to you from our very own Walt Gerano, as he discusses the importance of being a great steward for your clients, and how these tactics will help you grow your business and relationships.

Check him out below!

If you enjoyed Walt's video, check out his recording to learn how being a steward leads to building client advocates for your business as well.

In this audio experience, Walt discusses the 4 Steps to Create Advocates in your business.

1. Find out what they want.
2. Prioritize critical areas.
3. Identify established performance levels.
4. Negotiate expectations.

P.S. - Please feel free to Share our post via social media below with friends, family, colleagues, clients and more!

Another day, another great resource available from us here at Anthony Cole Training Group.  

Are you ready to change the way you approach prospects to close more sales?

In his audiobook, Motivating Prospects to Take Action, Tony Cole shares with you how to identify the 3 different types of prospects and how to tailor your approach to help prospects make decisions.

You will learn the right questions to help identify severe mental anguish and get prospects to take action!

This 13-clip audiobook along with the worksheet will help you:

• Identify the 3 types of prospects
• Learn various strategies for uncovering pain including The Takeaway Technique
• Identify the obstacles that prevent prospects from taking action
• Know when you are seeing the REAL issues and pain
• Develop a process for asking the right questions to uncover pain

Interested in receiving a Free copy?  Download available below!