ACTG Sales Management Blog

Sales & Sales Management Expertise Blog  

Make the "Business-to-People" Sale

Posted by Alex Cole on Thu, May 23, 2019

Most Sales Managers would agree that completing prospecting activities and hitting sales goals are critical to success. However, what happens when we focus too much on the numbers and not enough on being a resource for prospects, we impact (or lose) the human element of our business.

casual-cellphone-cheerful-1289898In general, there are two different types of classifications in sales; Business-to-Business (B2B) or Business-to-Consumer (B2C). B2B — meaning you supply a product or service directly to an organization — i.e. you provide a chemical coating that will be sold to an aircraft manufacturer and applied to rotors. B2C — being that you provide a product or service directly to the end user — i.e. you sell anti-aging skincare products using social media and your network to women 30+. But what if what you do falls somewhere in-between?

What if you are in the B2P (Business-to-People) business?

I believe that Anthony Cole Training Group fits within that category. Before we get too far into this topic, I do realize that B2C sales technically describes what we are about to discuss below, but for the sake of this article, I ask that you expand your realm of thinking. See, we (ACTG) primarily provide sales hiring and production training for financial institutions. We usually work with pre-existing sales teams to uncover the problem areas they face and build our training and development around addressing those problems. But at the end of the day, it is the people that we impact first, not the organization. I would imagine 99% of the organizations that are considered B2B still have to sell to a real, living, breathing person who is responsible for making a decision.

So, at the end of the day, you’re in the business to people game too.

So why does this matter? Sometimes, we get so caught up in our day-to-day activities of producing, prospecting and checking off our individual tasks, that we forget we're here to help people. We focus more on the RFP (Request for Proposal) in front of us than on the company and people behind it.

Typically, in B2C sales, the salesperson shares more of a personal relationship with the prospect as well as flexibility around conversations and decisions. In B2B sales, there is usually more restriction to the branding, marketing and positioning of products or services, as well as how we can approach people in the market. Now I’m not suggesting we should throw the handbook out the window, but I am suggesting that those of us in the B2B space can probably benefit from a healthy dose of “authenticity” and “the human element”.

Don't you think?

At the end of the day, you must remember that you are impacting people, regardless of the type of work that you do. The aircraft manufacturer that is buying your chemical coating still has a team of people they are responsible for, so they must confirm that the chemicals are safe and regulated—so talk with them about that. Not only why your coating lasts so much longer than your competitors’ brand!

When we stop focusing (solely) on the next sale, the next dial, or the next commission check; and instead focus on being a go-giver for our clients and prospects, more sales will occur. Be in the Business-to-People, or B2P, business.

It will be your most rewarding sale.

 

Topics: go givers sell more, how to improve sales, sales advice, steward, new age selling, salespeople

Enough is Enough

Posted by Alex Cole-Murphy on Thu, Apr 18, 2019

Complacency in selling is not a new phenomenon.  In fact, it has been going on for a number of years with salespeople accepting their status, their shiny new toys, and their numbers in the business, while exclaiming,

"Enough is enough.  I've accomplished it all!"

In this article, we discuss three keys to help sales managers bust the myth that “enough is enough” and continue to get the most out of their top producers.

zac-durant-302752-unsplash

Too often, highly successful salespeople reach a point in their career where they become complacent and “enough is enough”.  This happens for many reasons, but one of the main causes I've observed is because "they've made it".  It doesn't matter what the gender or tenure may be — all that matters is that one day the sales person wakes up, takes a look around, and discovers that all of the things they strived for when they entered into the business have been accomplished.

For example:

  • They have the big house
  • They have the right car
  • They have the club membership
  • They are either empty nesters or they have the kids in private schools

In the past, Dave Kurlan at Objective Management Group has said that highly successful salespeople are motivated by earning more money. Recently though, Dave has done some additional research to indicate that money is NOT really the primary motivator, especially with today's younger generations.  

With this in mind, I don't want to focus on money as the motivator, but I don't want to totally discount the idea either - Money does help people achieve the other extrinsic motivators that are important to them. However, it is actually the specific goals of the individuals, that provide the motivation for earning more money.

For example, let's suppose you have a sales person who says spending time with the kids in extracurricular activities is important. I would suggest that being successful in selling "buys" one the time to have balance in their life and “buys" the ability to make the choice to go to a field hockey game at 3:30 in the afternoon. This freedom of time and choice might require your sales person to succeed at a higher level. People who are actively dreaming and motivated to reach their goals will continue to work towards financial success to fulfill those goals.

Here are 3 Keys to help sales managers bust the myth that “enough is enough” and continue to get the most out of their top producers. And if you are a top producer yourself, these are three areas you should question and reflect on for yourself.

  1. Ask the right question(s). It really isn't about money - how much they want to make, how much they want to have, when they want to retire, etc. The better questions focus on helping your highly successful salespeople determine what they would like to have to shape and define their lives. Ask them to rethink their goals to include some things that would be important to them to have as a legacy regarding who they are and what they accomplished.
  2. Create an environment where goal setting is also goal sharing. Too often, sales managers don't feel that it is necessary to know exactly what it is that motivates their salespeople. As a sales manager you may argue this, but the OMG data shows that 75% of all sales managers do not feel it is important to know what motivates their people. However, once you know what is important to you then, then you are more effective as a mentor and a coach.
  3. Build the company sales revenue plan from the ground up. Start working with your people and help them identify what their requirements are to have a lifestyle filled with happiness, success, and financial freedom. Document their individual requirements and provide a process to translate those requirements into a selling success formula. 

I've explained to salespeople that if the company has a bigger goal for them than they have for themselves, they shouldn't blame the company. The salespeople need to blame themselves because smaller expectations are a clear indication that they have stopped dreaming and stopped setting goals. I’ve explained to executives that it isn't about shareholder value. Their salespeople, unless they own shares, don't give a hoot about shareholder value. They care about sending their kids to school, buying a place in the mountains, paying for the weddings, etc.

When you have an environment where your people can continue to make their dreams come true, then you have something special where “enough is enough" is never an issue. 

Topics: motivating sales people, effective sales management, salespeople, sales opportunity, driven, complacency

7 Rules of the (Prospecting) Road

Posted by Walt Gerano on Wed, Apr 10, 2019

There are a certain number of rules that must be followed when it comes to prospecting in sales. 

These include, but are not limited to, making the commitment to get out of the cold calling business, identifying who you will ask for introductions and referrals each week, ensuring exactly how you will evaluate your success, and creating a pre-call plan for every single call and/or face-to-face meeting.

9836407_xxl road to success sign

Some people say that rules were made to be broken. You might want to think twice about breaking some of these rules for prospecting.

The most successful salespeople I know are always challenging the ideas and methods of those that have succeeded before them, but they don’t challenge the notion of the importance of making prospecting their A priority every week. They know that no matter how successful they are, if they don’t continue to add new relationships, that eventually, their business will decline. 

Here are some rules to help you prospect and prosper:

  1. Play in your sandbox. Make sure you have a profile of who you need to be in front of. Call on the people and businesses where you have expertise, and can leverage that, along with your experience.
  1. If you are dependent on making cold calls, make the commitment to get out of the cold calling business. You will schedule appointments and make sales cold calling but the acquisition cost per sale is much higher than with referrals and introductions. Not to mention the sales process is generally longer.
  1. Look at your schedule each week and identify who you will ask for introductions and referrals. It could be face to face meetings, networking events or a meeting with a center of influence. Have a process for asking that makes it easy for people to help you. Bring your list of top 10 prospects to every meeting and ask them who they know on the list that would take a call from you? Better yet, make use of LinkedIn and look through their connections for people and businesses that look like your target prospect.
  1. How will you evaluate your success? Make sure to set objectives whether it is with a success formula or a commitment to specific behaviors and then TRACK IT!
  1. Have a telephone approach that when calling for appointments helps you sound like someone they want to speak with. What is your unique selling approach? What problems do you fix and why do people meet with you? It must be compelling.
  1. Do a pre-call plan for every call, on the phone or face to face, to help you stay on track. Know what questions you will ask, what questions you need answered and the tough questions they will ask along with how you will respond.
  1. Don’t quit, be persistent! Rejection is part of the process. It’s not falling down it’s staying down that defeats us all.

Topics: introductions, Cold Calling, Referrals, persistence, success formula, pre call sessions, effective sales process, hunting for sales prospects, ideal prospect persona, sales acceleration, salespeople, sales opportunity

Show Me the Money

Posted by Alex Cole on Wed, Mar 13, 2019

Without revenue, a sale cannot be made.  However, making a sale is not all about the money, and it is a salesperson's duty to overcome their prospect's money problem and be prepared for what objections are thrown their way.

In this article, we discuss the preparation involved in overcoming this common problem, and ultimately, the notion that, "If you win on price, you’ll also lose on price."

dollar-499481_1280

Money is a critical part of every effective sales process, and yet, sometimes that very discussion causes us to get “off track” and lose focus on the objective of the call.

While I won’t argue that price is part of the decision-making process, what do you do when the prospect tells you it is the driving factor? This can be challenging, but you can use this information to your advantage to make critical decisions. Once you understand the motivation of the buyer, you can and should decide early in the sales process if it makes sense for you to work on the opportunity or not.

So, what should you do when you find out that it’s a price-driven decision? Well, you need to recognize the following:

  1. It’s part of the official buyer’s manual. Buyers have been conditioned to believe that there is always a lower price and a salesperson desperate enough to go there.
  2. Sometimes they buy on price because that is how THEY personally make buying decisions.
  3. When the prospect tells you up front that this is a price-based decision, you need to ask what else, besides price, is driving this decision and, if the answer is “nothing”, be prepared to move on.

So, what can you do to overcome the money problem? 

Answer: You must be prepared.

  • Make sure, in your pre-call preparation, you have specific questions to respond to the price issue, i.e. questions that look for things that are important to them other than price.
  • Ask questions to help them discover that low price may not mean lowest cost. Price is what you pay for something; cost is what you end up paying or losing out on because of that decision.
  • If you are committed to achieving your goals, then you must find prospects that place value on something besides just price.
  • In order to do that, you must look at why others are doing business with you.
  • Keep a full pipeline. The lack of an abundant pipeline puts pressure on us to work on low probability opportunities.

When you sell off of price, you sacrifice margin, trade “building the kind of business you want” for revenue today and constantly need to “defend” the sale. Unfortunately, we know that if you win on price, you’ll also lose on price.

Don’t let your business be driven by price shoppers. 

Topics: selling in today's market, sales advice, new age selling, salespeople, sales opportunity, price, money

Is Your Current Sales Opportunity Real?

Posted by Mark Trinkle on Thu, Feb 21, 2019

In this article, we discuss and identify the three main reasons why salespeople get duped into believing a specific opportunity will close and why some deals are not worth chasing.

They are:

  1. Weak pipeline
  2. Failure to ask tough questions
  3. Afraid to pull the plug

shaking-hands-2499612_1920

“Reality is merely an illusion.  Albeit a persistent one.” - Albert Einstein

Throughout my sales coaching career, I have yet to meet a salesperson who does not understand that sales will require hard work.  Yes, they might all have a different willingness to put in that hard work, but they understand that selling is not for the faint of heart.  They know that there will be some rough days.  They also understand that when they accomplish what they need to each week, they will generally be tired come Friday afternoon.  They don’t mind working hard.

But what they do mind (and this is universal), is chasing hard after a deal that, as it turns out, they had no chance to win.  They were punching above their weight class.  And as a result, they wasted their time.  In my opinion, there is nothing more expensive to you as a sales professional than spending time pursuing an opportunity that you have no chance to win.  Simply put, you can’t get the time back.

So why does it happen so frequently?  If you knew you were lost, when would you want to know that?  I am guessing before you wasted more gas going in the wrong direction.  Right?

I believe we can identify three main reasons why salespeople get fooled:

  1. Weak pipeline – We know that weak pipelines "make cowards of us all."  If you have not eaten in a while, any food looks good to you.  It won’t matter if it is the right food…or if it is good food.  It is food so you will eat it.  Which is precisely why you should not go grocery shopping while you are hungry.
  2. Failure to ask the tough questions – The best day to lose an opportunity is the first day. The second best day to lose one is today.  Are you asking the tough questions of your prospect that will allow them the opportunity to self-select out of the decision?  Or are you asking the easy questions to get you to the next step in the process?  What are you pretending not to know?
  3. Afraid to pull the plug – Sometimes opportunities start well, but then the salesperson is met with radio silence from the prospect. And rather than “politely” confront the prospect with what the radio silence means, the salesperson keeps chasing.  Radio silence can mean the problem has gone away, the problem has been swallowed up by other priorities, or the prospect has solved the problem with someone else.

So, is it time for you to “get real” with a prospect in your pipeline?  The time you save is yours.

 

Topics: sales competency, how to improve sales results, sales advice, think it overs, salespeople, sales interjection, sales opportunity, radio silence

    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