ACTG Sales Management Blog

Sales & Sales Management Expertise Blog  

Get Your Prospect to Hit the 'Buy Now' Button

Posted by Tony Cole on Tue, Aug 06, 2019

According to an excerpt in Don Miller's "Building a Story Brand," in order to help someone with a trust issue, the salesperson has to provide their prospect with a plan.  

This plan must help them arrive at the‘ buy now’ button on their own. Or, it must be a plan that helps them feel more confident after they’ve pushed the ‘buy now’ button. 

So, how do you go about getting your prospect to hit that button?  

pexels-photo-1092363

I’m stuck this morning. I’m reading “Building A Story Brand” by Don Miller and I'm looking over my own book “The Best Prospecting Book Ever Written”.  Don points out in Chapter 7 that in order to get a prospect to push the ‘buy now’ button they have to trust that everything is going to turn out okay. That means that they have to trust you and everything you’ve said and presented to them.

That’s a tall order if you are selling high-ticket items.

In my book, I just read the intro to Chapter 11 where I recount a meeting with Ron Rose at a Cincinnati GAMA meeting. I was a rookie in the Insurance business where Ron, on the other hand, was a 30-year veteran and multi-year MDRT (Million Dollar Roundtable) agent. I asked him what his best method for gaining prospects was and he took me through a series of questions that started with: “If I had your family locked up in a closet with a bomb, that was going to go off in 24 hours if you didn’t make a sale, who would you call on first?” I said, “somebody I already know”.

And that’s how I got stuck. 

Over the last 25 years, I have literally spent thousands of hours learning more and more about how to build a sales practice, craft a strong sales message, present solutions to get people to say yes, and more effectively guide my prospects through their buying process.

Having said that, there are very few books, articles or presentations I’ve read that didn’t address prospecting. I’m in the middle of writing a script for our Instructor Lead Training Session on Getting Introductions. In the process of writing the script, I googled ‘Getting Introductions-- Tony Cole’ to see what else I may have written about the subject and that search took me to my book.

And that's where I got stuck.

7125889_xl shaking hands

You see, in Don’s book he points out that in order to help someone with the trust issue you have to provide your prospect with a plan. A plan that helps them arrive at the ‘buy now’ button on their own. Or a plan that helps them feel more confident after they’ve pushed the ‘buy now’ button. He used the analogy of putting down stones for the prospect to cross a creek.

That lead me to think about you and your sales approach. It caused me to stop and ask this question – what is your test drive? How do you help people get comfortable enough with you and your process so that the anxiety of making a mistake is minimized?  Imagine you’re buying a $50,000.00 vehicle without a test drive. Now put the number at $500,000.00.

And that is where I got unstuck.

Imagine how much easier it is for any prospect of yours to make a decision if you made it a habit of getting introduced to the person that is eventually going to ask you to write a check for $500,000.00.

Doesn’t getting introduced eliminate some of the anxiety and stress because someone you already trust and have confidence in has taken the test drive?

I'll let you find this one out on your own...

Topics: sales prospecting, prospect outreach, getting introductions

Fishing for Sales Prospects

Posted by Alex Cole-Murphy on Mon, Jul 01, 2019

Sales and marketing go hand-in-hand.  Without leads, salespeople will have a hard time selling.  Without marketing, salespeople will have a difficult time sharing their product and features with prospective clients.  

But how much is too much?  In this article, we discuss the difference between giving salespeople every lead and teaching them how to cultivate their leads to strengthen their pipelines and their careers as a whole.  

pexels-photo-1630039

I’m sure a majority of people have heard the Chinese proverb, “Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime.”

This, of course, means it’s more worthwhile to teach someone to do something (for themselves) than to do it for them (on an ongoing basis).

Well, I’ve created a new proverb. A sales proverb, if you will:

“Give a salesperson a prospect, and you strengthen their pipeline for a day. Teach a salesperson to prospect, and you strengthen their pipeline for their career.”

Makes sense, doesn’t it?

Subscribe to our Blog!

Several of the companies we partner with supply their new, or tenured, salespeople with leads consistently. In theory, this sounds great but it can cause problems in the long term. If you are feeding leads to your salespeople on a regular basis, we encourage you to continue to do so.

However, your salespeople can’t, and shouldn’t, rely on them as their main resource for potential business. They should be capable of replicating the process and generating their own opportunities. If they produce solely off of inbound marketing leads, the salesperson will just survive, and not thrive within your organization. If they don’t know how to effectively create, cultivate and generate leads, they will only do what is required of them to sell and close the leads they are given.  They won’t try to uncover new opportunities and in the end, you, the sales manager, and the salesperson, will be disappointed with their performance.

And it’s not just a matter of teaching them how to prospect, but how to prospect effectively. Anyone can go out and get a list of names but how they contact those names, what they say, what questions they ask all play a role in effectively “fishing” for leads.

So how can you help your salespeople?

Start by setting a new lead expectation. Making it mandatory to produce fresh opportunities on a weekly basis will force your salespeople to go out and make the dials. Next, identify your “Zebra” or ideal prospect persona. For a better understanding of the concept and best practices on identifying “Zebras” watch this short Sales Guy Unplugged video. Don’t let your salespeople call on anyone other than those that fit the personas identified.

After, research the best ways to reach your ideal prospect. Is it via email or phone call? Is LinkedIn, Facebook or Twitter their preferred social media platform? Knowing how and where to reach your target persona will positively impact your salespeople’s’ ability to hunt, qualify and discover potential new business.

A salesperson's job, although difficult to do, is not difficult to understand. There are 3 major components:

  1. Go out in the marketplace and uncover opportunities,
  2. Qualify those opportunities and close for the business.
  3. Don’t let your salespeople get by on just your internal leads  fishing for prospects is 33% of their job.

Need more help? Download our free E-Book “Why is Qualifying a Prospect so #%&@ Hard”. This book is packed with practical information that you can put into practice today to immediately increase your sales.

Looking for more sales tidbits, techniques, and video content?  Subscribe to our weekly Sales Brew email below!

Sign Up for our Sales Brew

Topics: qualifying prospects, sales prospecting, contacting prospects, reaching prospects, prospect engagement, prospect outreach

Declare Independence From Your Own Obstacles

Posted by Walt Gerano on Fri, Jun 21, 2019

As we approach the upcoming Fourth of July holiday, our own Walt Gerano shares his thoughts regarding the obstacles holding us back from experiencing the sales success we desire.

beach-clouds-daylight-680257

243 years ago, 13 colonies declared themselves as newly independent sovereign states and no longer a part of the British Empire. Instead, they formed a new nation—the United States of America.

Have you declared your independence from the things holding you back from experiencing the success you desire?

When you look at your business today, you might agree that you need to prospect more consistently, qualify better and know when to move on from a prospect. But you still have opportunities in your pipeline that are stuck. The question is why and what are you going to do about that?

Why don’t you prospect more consistently

  • You don’t have enough people to call on.
    • When was the last time you asked for an introduction or spent meaningful time on LinkedIn?
  • You don’t have the time.   
    • What activity is more important to the growth and success of your sales practice than prospecting? Schedule prospecting time first.
  • You are fearful of rejection. 
    • Rejection is nothing compared to failure.

What about qualifying?

  • Do you prepare with a pre-call plan for every call to make sure you know how you will get the answer to the question; “why am I here?” (First question you should ask on a call)
  • Are you ready for the curve balls? Those are the annoying questions that you wish they didn’t ask.
  • How and when will you deal with the incumbent?

Why are “opportunities” stuck in the pipeline?

  • Does the prospect really have enough PAIN to move forward and make a change?
  • Do they have the money to fix the problem?  Did you even ask about it?
  • Are you meeting with all of the decision makers prior to presenting your solution?
  • Have you dealt with the “return of the incumbent?”

There is nothing here that you don’t already know. It’s the middle of the year so take a few minutes and evaluate where you are and what you will do about it.

Claiming your independence requires nothing compared to what was sacrificed all those years ago. Let’s remember this week what was at stake and what an incredible gift their fight and sacrifice is to this day. God Bless America.

Topics: qualifying prospects, freedom, sales prospecting, getting sales decisions

March Madness Thursday and Selling

Posted by Tony Cole on Thu, Mar 21, 2019

The sales process, albeit its own animal, shares certain similarities with the monster that is March Madness.  From prospecting, qualifying, taking the big shot, closing, assessing the opportunity to win, and much more, selling and sport's greatest tournament are linked in more ways than meets the human eye.

MarchMadness123rf

This might be the biggest stretch ever in the history of my blog. How can I possibly tie the NCAA Basketball Tournament (also known as March Madness) to selling? Honestly, I’m not sure…so I will be making this up as I go. Let me begin by setting the stage for selling and how I see it is similar to the event of March Madness.

  • Prospecting > Games that are played by all Division I teams throughout the year.
  • Qualifying > Selection Sunday – based on performance of the teams, 68 teams qualify to make the tournament.
  • Assessing the Opportunity to Win > Selecting your teams from the ‘brackets’ that you think have the best chance to win OR the teams you want to win OR the teams you think will be the upset and give you a chance to win the office pool.
  • Presenting > The Madness begins on Tuesday and Wednesday night in the "First Four" games.  On Thursday, the real fun begins, with a full slate of 16 games where the participating teams play their hearts out, and let the ball bounce where it may.
  • Closing > In some cases, the game is over before it begins (or so it seems that way).  In other games there are more questions that need to be answered (Overtime) before a victor is declared.  In some cases, an unexpected outcome – an upset – a 16 seed beating a 1 seed (looking at you - UMBC - and you, Virginia!)
  • Get a decision > The loser goes home while the winner savors the victory before facing the next big challenge.

And as Paul Harvey used to say, “And now… the rest of the story.”

Think about some of the outcomes of the presentations you’ve made where you were the top seed, or where you were the one in the game with all the right things in place to help you win the business. You have the talent, bench strength, great coaching, and preparation in place.  You have presented to the prospect what you said you would present but then… in the final seconds… someone throws up a “buzzer beater” and there goes your sale.

What happened?

  • The prospect let the incumbent come in and they matched my price.
  • I couldn’t get underwriting to change a covenant.
  • They took it to the decision maker and that person didn’t want to change
  • They said it was too expensive
  • They are thinking it over
  • Etc. etc. etc.

And just like in the ball game, it’s easy to point to the last play in the game that seals the upset – RJ Hunter’s 3 pointer with less than 2 seconds left to win the game for Georgia State comes to mind:

But, when the losing coaches review the game tape with their team, they point out to their players that there were several opportunities that, if the team had performed better ordifferently, the outcome would not have come down to the last shot.

The same is true in selling. It hardly ever comes down to the last shot when determining if you will win or lose the game:

  • Matching price – You should have uncovered earlier who was going to win a price tie.
  • Changing covenants – You should know beforehand the exact specs you need to get the deal done and, if you cannot meet those specs, you don’t present.
  • Decision making – You should know the decision making process before presenting.
  • They said it was too expensive – Why didn’t you know the budget before you presented?
  • Think-it-overs – You must eliminate this as an option when discussing the decision making process.
  • Other – Uncover in advance what can go wrong and deal with those things prior to attempting to present and close.

As the sales manager/sales executive, it is your responsibility to:

  • Put the best possible team on the court.
  • Make sure you have provided your team the resources they need to win.
  • Prepare them with a solid strategy to win.
  • Practice what you expect them to perform.
  • Debrief after they perform so you can help them change behaviors and improve skill

Once you do your job, and you do your best to make sure they are doing their job, then get them on the court and see where the ball bounces.

Additional Resources:

Sales Management Environment – Building the structure to improve your chances for winning.

Sales Talent Acquisition Routine – Hire Better Sales People - get the right people to come to your team to play and WIN against the opponents in your market.

Goal Setting and Business Plan Development – Build a foundation so that your team has the required internal motivation to win in all market conditions.

Topics: Selling, sales prospecting, closing sales, march madness

5 Really Important Sales Concepts - Today's Lesson - Be Unique

Posted by Tony Cole on Mon, Nov 12, 2018

acid-citric-citrus-997725

In our sales training classes, we spend a great deal of time on the appropriate "attitude" required to be successful in selling. With the right attitude, you can count on consistently executing the required conduct and sales techniques to be successful.  I once heard another sales development expert explain that "sales technique is just a change in language.  You already have a sales language; it just may not be as effective as it could be."  (If you want additional information on "attitude", you can find more posts in our blogs.) 

Today, and for the next 4 days, I am going to focus on 5 really important sales concepts.  You can also call them "techniques" but sometimes problems occur when someone tries to duplicate the exact technique that a trainer uses.  For example, if your facilitator is from the northeast part of a country where the communication style is a little more direct, faster paced and some would describe as "aggressive", but you are a mid-westerner, then you may find yourself failing to bond well with prospects, not because of what you have said, but more because of how you said it.  So, for that reason, we'll focus on the concepts and let you develop your technique. However, with that in mind, don't let your "record collection" or "need for approval" get in the way of executing the concepts. (There I go again- back to attitude)

Today's lesson:  Be unique.

You have your elevator speech, your 15-second commercial, your value proposition, your positioning statement, etc.  It doesn't matter what you call it.  The concept is this:  Have a concise way to describe to someone what you do when you first meet him or her.  Here's the problem.  Everyone in selling has been taught the elevator speech, the 15 second commercial, the value proposition and the positioning statement, etc.  You know it's supposed to describe what you do: 

"I help companies like yours manage their insurance risk." 

"I sell customized clothing to busy executives."

"I own a CPA and tax consulting practice specializing in the needs of companies that generate between 5 and 10 million dollars in revenue".

Sound familiar?  That's the problem.  There is nothing unique about the approach from any one of these statements. Here's the rule about the concept:

What you say should cause the person with whom you are talking to respond either verbally or mentally in one of three ways.  You have to give the prospect a compelling reason to keep listening. When you deliver whatever it is, they should respond with either:

  1. "That's me".
  2. "How do you do that?"
  3. "Tell me more."

Examples:

Insurance:  "I provide people buckets of money in the right amount, at the right cost and at the right time." (How do you do that?)

Banking:  "My clients are companies that discovered that working with a bank should be more than just a place to get money or leave money." (Tell me more.)

Accounting:  "I'm in the business of helping small businesses that are sick and tired of sending the government more money and keeping less." (That's me!)

The idea is to think about what people or companies have chosen to do business with you or your company or why they buy the product and service that they have bought from you. What problem was it that they wanted to go away or solve?  Or what benefit were they looking for that they weren't getting?  Take that information and create your "unique sales approach" (usa).

The technique:  Before you deliver your "usa", you may want to start by telling the person that you are talking to that it is easier to describe what you do by asking a couple of questions. "In a nut shell, what I do is...(deliver your usa)" and close by asking, "May I ask you a question?"

By the way, I work with presidents and CEOs that have at least 10 sales people, generate more than 10 million dollars a year in revenue and want more consistent and predictable sales revenue growth.  If you know anyone that might say, "that's me", send them my way.

Thanks in advance.

DOWNLOAD our FREE eBOOK -   Why is Selling So #%&@ Hard?

 

Topics: sales attitude, improving sales, sales prospecting, sales techniques

    Follow #ACTG

     

    About our Blog

    Founder and CLO Tony Cole has been working with financial firms for more than 25 years to help them close their sales opportunity gap.  He is a master at using science based data and finely honed coaching strategies to help build effective sales teams.  Don’t miss his weekly sales management blog insights.

     

    Subscribe Here

    Most Read

    Recent Blogs