Racing to Close the Sale

iStock_000003423890MediumThe sales process provides a road map to follow when you are driving toward winning new business. The course begins with identifying a prospect and traverses through a series of events to the finish line. The intended destination on the map is the “close”. The place where you complete the sale, where you can declare you have won the race!

All sales people desire the race to be short from start to finish. Sales people hope to navigate around a few laps versus taking a long and winding road trip with many starts and stops. Experienced sales people have the endurance for the longer trek; where as, new sales people often lack patience and the will to stay seated for the extensive ride.

Most “starts” in the race never make it to the finish line. They breakdown somewhere in the process. The early racers may believe they are driving a qualified opportunity, yet fail to make the needs analysis turn or drive off the road at negotiation. By laws of averages and experience, more than 90% of opportunities that start will fail to get all the way to close. No matter the product or service, for every 10 qualified starts only one winner will result.  In other words, nine out of 10 deals will never make it to the close.

Winning or losing creates great anxiety in sales. The race to closing is arduous. Gripping the wheel, staying on course, focusing ahead requires concentration, skill and patience. The better drivers know they need to use their road map and not veer off course. The effort to get to the finish line can be months and even years with large deals. The pressure to close can drive sales people to make some simple driving mistakes.They take shortcuts to get to the finish line, avoiding key road signs that tell you whether you are approaching the finish or have miles and miles to go. Worst, they give up and quit the race.

One of the best indications for assessing how close you are to the finish line is to ask for agreement at every turn. “Are we there yet?”  It is true, the repetitive process of asking “are we there” can get annoying for some; however, you need to identify your road markers.  You need to know how close you are to the end of the race. The only way to know is to ask if you and your prospect are in agreement. You don’t want to end up at the finish line and find out your paying passenger jumped out long ago.

Every turn you make in the sales process requires a pit stop. Stop. Check to make sure the prospect is still engaged, agreeing to the journey and willing to go the distance.  If you fail to engage at the check points, you will mostly run out of gas and never see the checkered flag. You successfully end the race when you cross the finish line with your new customer seated next to you and you both are headed to the winners circle.

“The winner ain’t the one with the fastest car, it’s the one who refuses to lose.” – Dale Earnhardt

Jamie Glass, President and CMO at Artful Thinkers @jglass8

Wishing, Wanting and Hoping Does Not Work in Business

AtlasWhat works in business is “doing”. Executing the plan requires effort. It is the muscle, the labor and the heavy lifting that gets the job done.

If you are wishing a prospect calls you to buy something, the wait is long. If you are wanting people to respond to your awesome tweet, the anticipation is agonizing. If you are hoping a great venture capitalist recognizes your incredible invention, your desires can go unfulfilled.

The message is not harsh or meant to burst your bubble. It is a direct call to action. Your wish, want and hope strategy needs reconsideration. It is not time to give up. It is time to change your strategy. Winners get rewarded for hard work. They do what others won’t do and that is how they win.

The sales person that makes the most calls, nurtures the most relationships and asks for the close multiple times, makes the sale. The marketing person that gets their message out through multiple channels using frequency and smart engagement tactics sees return on their marketing investment. Business leaders who knock on many doors to showcase their compelling business models that are producing multiple returns with predictable growth get the call backs from the investor community. Those that are putting their nose to the grindstone are realizing the rewards. The rewards of hard work.

Ambition needs to be equally measured by production. In a recent board meeting, the discussion soon centered on what we want to accomplish in the next five years. A boisterous board member remarked that the question was not relevant. The room became silent. Finally, someone asked him why would we not want to focus on our goals and define our strategy. He starkly replied, “You don’t have anyone to do the work.”

Every business needs leadership, directing activities and measuring accomplishments. Great leaders inspire others to believe they will be winners and thus hard work will pay off. The fact remains that without the “doers”, leaders are really a figure head. A strategy without anyone executing the tactics is a failed strategy. Labor is what drives businesses forward. Those that execute in the business are those that bring in the revenue, open new markets, and create innovative products.

The amount of time defining the mission, vision and strategy of your business needs to be matched exponentially by the hours of “doing”. Plans without the work tethered to tactics are simply great ideas. Goals are achieved through sweat. A vision is actualized through production.

Wishing, wanting and hoping are great for daydreaming. Put your dreams into action. The performance of you, your business and your teams are visible in hard evidence. Facts. Results. Failures. Accomplishments.

As you analyze the hours in your day spent on strategy and planning; multiple that amount of time by 10 and that is the minimum time you need to apply to working in your business. In other words, every hour of strategy and planning needs to be matched by 10 hours of laborious action. Match your planning time with a report card of hours worked on your to do list. The outcomes are a result of the effort. Measure your business success by the achievements, the outcomes, the results.

Wishing, wanting and hoping in business creates a crisis in confidence. Wishing is obscure. Wanting is desirous. Hoping is improbable. Doing is concrete. Working is absolute. A commitment in confidence is defined by action. Execution moves a business forward. Nike reminds us all the time to “Just Do It”. The simple motto is one that all businesses and leaders need to follow. Do it. Get it done. Then start again and just keep doing!

“The three great essentials to achieve anything worthwhile are, first, hard work; second, stick-to-itiveness; third, common sense.” — Thomas A. Edison

Jamie Glass, President and CMO at Artful Thinkers @jglass8

Every Business Should Do a Harlem Shake Video

mqdefaultThe latest Internet phenomenon takes place in 30 second flashes. In a short two week span, tens of thousands of videos have been uploaded to YouTube and some garnering millions of views. Each video has it’s own unique interpretation of the same electronic dance mix song by Baauer.

There are versions underwater, on ski slopes, in locker rooms and on office desktops. The concept is the same for all. One person dances while others go about their normal business. The person usually wears a mask or some sort of limited disguise.The beat picks up, the video cuts and then entire group erupts into a spontaneous, non-choreographed breakout of “dance” in a variety of costumes. Move over Psy, Gangnam Style is out.  Now, we are crazed by the Harlem Shake.

ku harlemCollege baseball teams, celebrities and high school clubs have Harlem Shake videos. Start-ups and tech companies have created their version of the Harlem Shake. Gyms, mega brands and skateboard makers have a video. College campuses are doing the shake. Media companies, the military and even the newsroom have created their own version. From all around the world, the Harlem Shake is shaking it up!

There are no skills required, just one song, a video camera, and a costume. It is self-evident dance skills are NOT a prerequisite. In fact, the less skills the better. Even Beanie Babies are making a comeback with their Harlem Shake.

Who knows how long the Harlem Shake madness will continue.  It may be short lived and over before the real March Madness begins or it may go on for a long time.  Regardless, it is time to jump on the bandwagon. Avoid the critics, naysayer and those that don’t get it.  They won’t and it doesn’t matter. The benefits of making the video outweigh those that will forever be refusing to play along. We need to lighten up, have some fun and laugh! It’s time. It’s time to Harlem Shake.

Here are a few of the reasons why you should convince your friends, colleagues or teammates to make a 30 second video:

1.  Creativity – We all have an inner desire to use our creative skills and what better way to express yourself then dressing up and dancing with your friends at work.  Let the creative juices flow. We need a way to express ourselves and sometimes casual Friday’s aren’t enough. Let the creative side of your business take center stage and watch in amusement at all the pent up imagination in your office.

2.  Team Building – A company that dances together, stays together. There is a reason to get everyone out of their chair for 30 seconds of craziness.  It’s uplifting and rewarding to know you can work hard and play hard together. Show your spontaneity. We are all under a lot of stress to deliver, on time or ahead of schedule. What better way to be all in “it” together!

3.  Cooperation – Everyone has a role in the video.There are no superstars. Whether you put a banana peel on your head or give heart-to-heart resuscitation to a stuffed dinosaur, there is a place for you in the breakout version. All you have to do is show up and shake.  When is the last time you could get an entire group to center on a single initiative?  Cooperation is underrated.  It might spill over into other projects or initiatives.

4.  Culture – Who knew your workmates were so much fun?  Who knew that all your workmates had a costume waiting to be worn?  One is not to question the attire, simply let the values you post on your website standout in a 30 second commercial of your diversity in action. Show why you are a best place to work.

5.  Fun  All business, all the time is so 80s.  Let it go. We want to laugh with each other, we want to shed tears of joy, we want to get up and dance! If we enjoy what we do, we will do better. Give everyone the gift of having fun together. Recruiting might be a little easier when employees are talking about how much they love their job.

6. Promotion – Maybe, just maybe you create a video and it gets millions of views. Out of curiosity, a few of the million viewers then go to your website to find out more about the cool, fun people in the video. A little PR never hurts any business. Give us a positive reason to talk about you.

It is time to shake it up! Happiness is contagious. Get the crew together, make a video and add to our entertainment. We are searching out the videos. Do it before the craze is over and we are on to the next. We are laughing and we love watching you have make fun together.  It says a lot about your business.

Jamie Glass, Founder, President and CMO of Artful Thinkers

2013 Marketing Forecast Report Summary by Software Advice

Guest Post by Software Advice, Ashley Verrill

Traditional forms of marketing, such as direct mail, print and television advertising, continue to fall out of favor with business-to-business marketers, according to our recently-released Software Advice report.

We received responses from 155 primarily executive-level marketers in a poll we called the B2B Demand Generation Benchmark Survey. They were asked about spending plans for the New Year; as well as which channels, content and offers they find most powerful for producing quality and quantity of leads.

The sample included primarily smaller businesses, with marketing budgets of $250,000 or less, although there was some representation in the tiers up to $100 million in marketing spend. The sample was also primarily from technology companies with less than 100 people.

01-channel-popularityOne of the first things we discovered were the most popularly-used channels. Email marketing to a house list came in as the most-used channel, followed by search engine optimization, social media (not ads) and trade shows.

These results reflect an increased focus on what’s popularly called “inbound marketing,” or driving traffic to your site from customers already searching for your product. Many times these channels are also lower cost. You’ll notice a correlation between the cost per lead of each channel and their popularity in the chart below. Trade shows was one exception to this trend.

04-cost-per-channelOne thing marketers need to be careful about, however, is the quality of leads from these channels. Even if the cost is low, it’s important that your return on investment translates over into the kinds of leads your getting from each channel. Lead scoring is one good way to measure this quality. This usually includes gauging factors such as the decision-making power of the contact, their purchase timeline, budget, industry, or what kinds of content they’ve interacted with or downloaded.

“If you just look at a program on the surface from a solely cost perspective you might never realize it’s just not bringing back the right people. You could end up with a whole database full of contacts of people that will probably never buy from you,” said Elle Woulfe, marketing programs director for Eloqua.

In this regard, the sample agreed that in-house email marketing and SEO provide the most high-quality leads because they are prospects that have proactively sought out your company or product. They’ve clicked on a link, and want to consume something that you are offering. While social media is popular, it has yet to produce such quality leads, at least as consistently as other channels.

Also interesting, 3rd-party lead originators and search engine advertising received the largest percentage of votes for being high quantity channels, yet they didn’t score high on the popularity scale. This is likely due to cost, but again these are often really high quality leads. Marketers should look at the total cost-to-spend ratio.

Despite marketers admitting social media doesn’t produce quality or quantities of leads on a consistent basis, the channel received among the highest percentage of votes for elevated spending in 2013. This more likely to do with the buzz than anything else.

10-future-spend-channelEven if you are a director of marketing and see how all of these programs perform, likely a CMO ahead of you is saying, “You need invest in these programs because that’s what everyone is doing.”

For questions about content, marketers didn’t mirror the trend as far as prioritizing high quality or quantity of leads. Videos, for example, was listed as the second most popular, yet didn’t score well on our scale for quality or quantity.

This is likely due large part to the marketers need to produce content in a way that customers want to consume it. Videos are popular because people don’t have as much time to read.

Content success has a lot to do with where you are targeting customers in the sales funnel. A video testimonial from a customer, for example, could convert really well for high-scoring leads that are near the end of the sales funnel.

Alternatively, a lot of content is used pre-funnel and not meant to be highly-converting. It’s more about getting the customer educated and developing preference over time. For this reason, a one-size fits all approach to content can backfire. You need to measure success against varying goals.

Guest Post by Ashley Verrill
Ashley Verrill is a market analyst with Software Advice. She has spent the last six years reporting and writing business news and strategy features. Her work has appeared in myriad publications including Inc., Upstart Business Journal, the Austin Business Journal and the North Bay Business Journal. Before joining Software Advice in 2012, she worked in sales management and advertising. She is a University of Texas graduate with a bachelor’s degree in journalism.

Sales Referral Partners Lead to New Customers

Coins and plant, isolated on white backgroundUsing partnerships to grow your business is smart business. Partnering drives market awareness, aligns your brand with other credible brands, opens doors to new customers and can even provide value-added products and services to increase your average sale.

There are different types of partners, which are defined by the level of engagement and the agreements each party enters into to manage the relationship. Sales Referral Partners are the entry level of business development partnerships. This type of partnership has little accountability and responsibility for performance. The value of this strategy is often used to grow market credibility or to align with a partner that has strong relationships with your prospective customers.

Entering into a partnership for referrals is a first step to test the waters in a relationship. It allows both entities to measure the commitment, willingness and effort required in working together to develop business. A sales referral partnership gives you the ability to determine if this is simply a PR initiative or will actually grow revenues. You can also monitor the organizational support in sales and marketing required to get deals closed.

The relationship can be a one-way lead pass or a two-way referral agreement. Both parties need to determine the best opportunity to refer business by passing on leads, receiving referrals or both.

Sales Referral Partners can be “handshake” in nature if you do not plan to hold anyone accountable for the outcome. It is commonplace for business service professionals who network together to develop non-binding relationships to help open doors and extend value by making credible introductions to other service providers or their respective clients.

If you plan to use compensation as an incentive to drive referrals you need a legal agreement, signed and executed between both entities. Compensation is a way to show appreciation for the referral and is an incentive to work together. If your partner offers to pay you for referrals, you also want to make sure it is in writing.

There are two ways you can determine the referral compensation.  Referrals can be compensated at the same rate as your sales commission.  For example, you can offer a set figure between 5-10% of the net proceeds of any closed deal.  You can also set the commission rate at the percentage of your average marketing spend to acquire a new customer. No matter the rate chosen, it should be perceived by your partner as rewarding and drive the expected behavior. Make it worthwhile for someone to act as your front-line sales person and help find you new customers. If the rate is not worthy of the effort, you can expect to pay few or no commissions, as you will likely not drive the behaviors needed to get a referral.

If you do choose to enter into a binding agreement that includes compensation for referrals, you need to set rules just as you do for your own employees. Specifically outline in your agreement how payments will be made and when the partner will be paid. For example, will you pay when the sale is made or when you are paid by the new customer? Be sure you state in your referral agreements if the referral fee will be paid over the lifetime of the relationship or for only the first sale.

It is critical that you track all your sales referrals, whether you enter into a formal agreement or simply take an email of a lead pass from a trusted business partner in your network. Enter the lead into your CRM with the proper tag to identify who gave you the lead. Enter when you receive the lead and monitor the progress of the lead as it moves through your sales pipeline. Measure all your partners quarterly to see how they are helping you grow revenues. It will provide you intelligence in how to manage the relationship for maximum profitability.

If you do enter into a sales partnership where the other entity is representing you on the front-line, you need to equip your partner with the same tools and resources you provide to your own sales team. You need to give them the ability to introduce you, what you do, the problems you solve and the value proposition of your products and services. Spend time providing regular updates about your business and services to keep your partners informed and engaged.

Top of mind awareness in this type of partnership is essential to getting value from your relationship. When you provide value, you will get value in return.  A partnership requires efforts by the giver and the receiver. Be persistent in developing good partnerships, measure activities and reward the efforts of those that help grow your business.

“Try not to become a person of success, but rather to become a person of value.”
– Albert Einstein

Other types of partnerships that will be discussed in future posts include Co-Selling Partners, Channel Partners, Strategic Partners and Investment Partners.

Jamie Glass, Founder, President and CMO of Artful Thinkers

Growing Your Business by Word of Mouth

ChatIf you had to solely rely on word of mouth and referrals to grow your business, could you? Would you?

It depends on your word of mouth power, the factor from which you attribute new customer acquisition by recommendations from others. The ultimate test to measure your word of mouth power is to forecast the growth of your business through a single source — referrals. Would you miss your revenue target or exceed financial expectations?

Word of mouth (WOM) requires talkers. People who are willing to stake their reputation on telling others about you, your business and your value. Word of mouth marketing (WOMM) may be the most cost effective way for you to grow your business, if you have invested in creating an army of talkers. Talkers are promoters, followers, happy customers and raving fans.

WOM marketing and advertising is often advocated as free. This is simply not true. The outcome of word of mouth may be free from cost of sales. WOM requires a significant investment. An investment in resources that will carry your message forward. An investment of time educating others on the value of your products and services. An investment in exceeding customer, partner and employee expectations. Acquiring new customers may factually require a smaller investment than buying ads and cold calling; however, it is not investment free. You need to invest in your word of mouth strategy to make sure it really pays off.

You can invest in a WOM strategy by giving people a reason to talk and by continually asking others to talk about you and your business. Invest in WOM by giving people the proper tools to share your message. Talkers are your most valuable source for marketing, if they can speak from first hand experience. You can buy fans. Buying fans does not create loyalty or truth telling. The best talkers are those that trust you will deliver your value. They are someone who has found your solution to be worthy of sharing and promoting to others.

Knowing what others are saying about you and your business is measured by the amount of customers acquired through word of mouth.  If no one is referred to you by WOM, that is a danger sign. People are not telling others about your value. A bigger red flag might translate to a reputation problem.  When is the last time you asked your fans, customers or employees to spread the word? Are they enthused to get the word out or hesitant to refer others to your business?

People talk about what they like, what they trust and what they value.  All of these are earned markers of success in business. You earn them by doing a great job and exceeding expectations. The markers are currency. A currency that is transferred by word of mouth referrals. Start by setting your marker to do great work and then ask people to start talking. When they start talking, you have power. You have the power to win new customers by word of mouth.

“I would rather earn 1% off a 100 people’s efforts than 100% of my own efforts.”  J. Paul Getty

Jamie Glass, Founder, President and CMO of Artful Thinkers

Over the Hill or Through the Woods

iStock_000021617437_ExtraSmallThe beginning of every year is an opportunity to set your direction and communicate your path forward. It gives you the chance to review and define your goals, personally and professionally. For everyone else, it gives them the ability to know how to best support and follow the leader. Does everyone that can impacts your business know your 2013 plan?

The lack of a defined plan for the year, leaves everyone taking their “own” best path forward. In the end, this may not produce or represent the organization’s goals or objectives. People will be moving, activities will be happening, yet you may be headed to exactly where you did not “plan” to go. It is up to you to stop the wandering effect of your business and your followers. Set the direction. Communicate your exact plan.  If you don’t have a plan, create one now — before it is too late.

If you have a plan and you have not shared it, this is the week to get it done! People and businesses need goals and plans. You can work endless amounts of time, expend great energy and spend a lot of money to end up in the wrong place. How did that happen? Usually it is because everyone is not working collectively on the same outcome. Everyone is heading in a direction, but it may not be the “right” direction.

As a leader, it is critical to everyone working with you that they understand your strategy and goals for the business. A plan provides the road map empowering you to define the activities and tasks. It opens the door to assigning responsibilities and setting accountability. More importantly, it gives you the capability of making a pivot or shifting your plans by creating a benchmark for how you will measure success along the path forward.

Working on a shared and communicated plan, gives business leaders a reason to stay in touch with employees, measure their progress and assess performance. People thrive on accomplishments and desire feedback. Knowing how they are contributing to the success of the business can only be measured by stated goals and objectives.

Get everyone working together. Options may be limited or options may be bountiful based on the path you choose to take the business. Communicate your choice. Will you be headed over the hill or through the woods. What will be in the basket full of goodies you will offer to your customers, vendors, employees and partners. How do they prepare to avoid risks? What will be awaiting when they arrive at the determined destination?

Your team is waiting for you to tell them the story. How it begins this year and how it will end. Provide regular updates and know that people will be looking for you to lead them in the direction you have shared.

“If everyone is moving forward together, then success takes care of itself.”
— Henry Ford

Jamie Glass, Founder, President and CMO of Artful Thinkers

Don’t Confuse Confidence with Enthusiasm

Enthusiastic blonde woman wearing big glasses.Business leaders, entrepreneurs, sales people and marketers utilize enthusiasm to draw people to their ideas. They passionately motivate us to follow and take action.  Enthusiasm creates an emotional attachment.

Beyond the emotion, we soon find ourselves wanting more.  We want to trust that we should follow, not follow blindly. We need proof that the words are supported by facts. We need evidence. We are convinced by confidence.

Enthusiasm opens the door, confidence is the closer. We are attracted by enthusiasm. We believe in confidence.  Enthusiasm is selling, marketing and promoting.  Confidence is demonstrating, providing proof and creating trust to solve problems and fulfill needs.  Knowing the difference is very important.  Knowing how to balance the two requires expertise.

A person that lacks confidence will often exude excessive enthusiasm to mask insecurities or lack of evidence.  Have you ever found yourself so engaged by a sales person that you forget you are being sold? Enthusiasm wins. The result may be buyer remorse or worse, deception. Perhaps a new hire enthusiastically convinces you that they can “do the job” and soon the facts do not support reality. A very expensive mistake for a small business – costing the company time and money.

On the flip side, a confident person can be so overtly confident they fail to listen to others or fail to create a following.  Confidence is not arrogance. Confidence can easily delude rational thinking.  The love of power convinces the most confident they can not fail, thus losing all sense of humility and gratitude. When you look around you and no one is cheering you along, your confidence has removed your ability to attract others. There is no emotional appeal. You are now the leader of no one.

Confidence is defined as full trust; belief in powers, trustworthiness, or reliability of a person or thing, belief in oneself and one’s powers or abilities; self-confidence; self-reliance; assurance.

Enthusiasm is defined as absorbing or controlling possession of the mind by any interest or pursuit; lively interest.

How do you create balance and avoid the extremes? The perfect blend of confidence and enthusiasm is pitchman Ron “Ronco” Popeil.  He used demonstration to prove his inventions were viable and trustworthy. He used hype and selling to capture our mind share and imagination.  Who can forget his famous, “But wait, there’s more!”  Son of an inventor, Popeil is one of the most famous marketing pitchmen.  He showed you how you could dice onions, so you won’t shed a tear.  How you could depend on his electronic dehydrator to feed your children healthy fruit snacks instead of candy.  The lessons in all the infomercials where about solving a problem. Confidently.

What is the financial impact when you expertly blend confidence and enthusiasm?  Many of the Popeil inventions, most designed by Ron’s father, sold over 2 million. Ron Popeil is not rich solely from his fishing poles and spray on hair inventions. He is rich because he used enthusiasm to get our attention followed by confidently demonstrating how he solved our problems. He sold it. We bought it. We bought his confidence.

Whether you are pitching for investor dollars or motivating your sales team, you must build trust.  Demonstrate reliability and accountability.  Show the why.  Why you, why your company, why your ideas, why now.  Then use your persuasive personality to make sure the message is received, understood and people are left wanting more.

Enthusiasm without evidence is hype.  Hype doesn’t convince anyone, only gives us reason to be suspect.  Don’t oversell, don’t undersell. Confidence alone is mundane. Lead with enthusiastic confidence. A moderation of the two, equal but not separate, wins.

“Without a humble but reasonable confidence in your own powers you cannot be successful or happy.” Norman Vincent Peale

Jamie Glass, Founder, President and CMO of Artful Thinkers

Take the Chill Out of Cold Calling

ImageCall reluctance is experienced by all business professionals, no matter their role.  Executives returning messages from upset customers, accounting personnel calling on past due notices and technology team members shopping for service providers.  Imagine if your entire day’s success was measured by the number of calls you made to convince strangers to buy your goods and services.

No. Not right now. No, thanks. Not interested. Maybe. Not in our budget. Hang up. Send me information. Yes.  That is the typical day of a sales person who is building their pipeline, repeated over and over again.  And we wonder why it is hard to find and retain great sales people. There are not many of us who would put at the top of our career ambitions to be rejected several times a day.

Cold calling is rarely listed as a favorite work activity; however, for millions it is what pays the bills. Selling is fundamental to our economy. There is no business until something is sold. Embracing the fact we all need to make cold calls, how can we take the chill out of one of the most important activities in business?  Here are a few tips to prepare for a day of cold calling:

1.  Know your target market. Every buyer is unique; however, they will have similar demographics, sociographics and psychographics. Spend time understanding the common data characteristics, along with behaviors and motivators.  For example, if you are targeting a small business owner, know what drives them to change.  What fears do they face in making buying decisions? What would benefit them the most personally and professionally when they say yes?  The more you know about them, the easier it will be for you to make a “warm call” into a known, targeted buyer.

2.  Feel the buyer’s pain. There is a natural tendency for inexperienced cold callers to talk about their reason for calling more than finding out why the buyer would benefit from their products or services.  Stop. Listen. If you are doing the most of the talking, you are losing.  You will never hear the buying signals when you are spewing facts, features, and generic benefits.  The best technique is to understand and relate to your buyer so they have confidence you are doing what is best for them, not you.

3.  Quantity matters. It is far easier to deal with rejection if you can get a “win” during your calling spree.  Plan with enough time in a single day to make calls in blocks of several hours. One, right after the other. Hang up, dial the next.  If you stagger your calls throughout the day or over longer periods, you are simply prolonging the pain. Dial until you get to yes and then dial more. Target how many yes calls you need in a day to hit your weekly and monthly goal.

4.  Needs analysis pays off.  Do your research on your buyer. You will be expected to speak to their individual business needs. There is no excuse to cold call blindly. “Google them”. It takes seconds now to find valuable data online about buyers.  You have access to profiles in LinkedIn, you have company websites with executive profiles, products and company information, public reports and news. Do your homework.

5.  Call with intent. What is your goal in cold calling?  What qualifies as a “yes”?  As with any business function, have a goal and objective with every call. The only way to get to the yes is to ask – ask for the sale. Get agreement along the way of your presentation and make sure you are aligned in your mutual objectives. You are solving a problem for the buyer. Countless deals are lost because people think making the call is the goal. That is not the win. The win is getting the deal.  Ask for their business.  It only counts when they say yes. When they say no, ask again.

A sales person has to remain calm in the chaos of measurable rejection. They have to keep their eye on the “prize”.  One more call to a yes.  One more opportunity to use their real skills and talents of negotiation and the power of persuasion to fulfill a need.

Respect and reward those that you depend on to make the calls to grow your business.  If you are the cold caller, prepare to win.  Know your target, be diligent in your process and never forget to ask.  It is the glimpse of hope, the possibility of acceptance and the incredible satisfaction of closing a deal that keeps a cold caller motivated. Commissions aside, most sales people will say they get the greatest reward from winning.  Winning when a customer says yes!

For every sale you miss because you’re too enthusiastic, you will miss a hundred because you’re not enthusiastic enough.” – Zig Ziglar

Jamie Glass, Founder, President and CMO of Artful Thinkers

Additional Sales Related Posts by Artful Thinkers

  1. http://www.artfulthinkers.com/prepare-to-hire-a-sales-person
  2. http://www.artfulthinkers.com/questions-sales-candidates-ask-that-should-stop-the-interview
  3. http://www.artfulthinkers.com/a-bad-sales-hire-can-crush-a-small-business
  4. http://www.artfulthinkers.com/5-essential-topics-for-a-winning-sales-proposal

Great find:  Additional tips and references for warming up cold calling can be found at fellow sales advisor Tom Costello’s blog post: http://www.igroupadvisors.com/wordpress/five-steps-that-will-take-the-chill-out-of-cold-calling/

Think with Yes in Mind

iStock_000020490072_ExtraSmallOne of the biggest challenges business leaders and entrepreneurs face is to keep an open mind to new ideas and other people’s suggestions. Employees, advisers and sales people all seem to have a new and improved way for growing, building, doing or fixing something.

Emails flood your inbox while proposals stack high on your desk. The company suggestion box stays filled with endless brainstorms.  You solve one problem and then there are dozens of better, faster, cheaper ways you could solve the next.  You can not ignore the influx.  Nor should you.

Great leaders thrive on contributions of others, no matter the format or context.  There is always the opportunity that one recommendation could save or make the company millions of dollars.  A customer satisfaction survey could help you enhance your product.  An employee recommendation could help you reduce cost on your next infrastructure project.  A shareholder could enlighten you about a rewarding strategic partner opportunity.

Staying in a “yes” state of mind requires great skill and discipline.  It requires you to be approachable, literally operating with an open door for easy access to anyone and everyone.  You have to be focused and an expert listener.  The presentation of a suggestion may be masked within a complaint or shared by someone that doesn’t regularly get an audience with the ultimate decision maker.  You have to be able to decipher the hidden meaning.  You have to be thinking yes this idea or information could make a difference.

When approached, if you are thinking yes you are open to possibilities.  If you are thinking no, you are closed to suggestions and in the mindset of  impossibilities.  It is a dangerous position for the person at the helm to be closed to new approaches and ways of doing business.  You will soon be on an island as others are discouraged from sharing information or guidance.  You eliminate contact with those that can help you the most.

How do we get into thinking no all the time?  It requires time to be in a “yes” mindset.  Time is a precious commodity for leaders. We also have been trained to say no before we say yes.  In fact, good salespeople are trained to overcome your no.  Showing resistance when you are approached by a sales person is only a challenge.  Sales people learn early in their careers that it is often seven no’s to get to the yes.  Saying no only makes them more persistent.  It is far easier to say yes!  Yes, send me some information.  Yes, tell me why you would recommend we adopt this idea.

Always thinking yes before no does not mean that you implement every suggestion.  In fact, with being so open and approachable, it will be easier to discern what should be put on the list of possibilities.

Never limit what you can accomplish by thinking no before you think yes.  Maybe, just maybe, it will change how you and your business accomplishes all your goals and objectives in the coming year.

Man often becomes what he believes himself to be. If I keep on saying to myself that I cannot do a certain thing, it is possible that I may end by really becoming incapable of doing it. On the contrary, if I have the belief that I can do it, I shall surely acquire the capacity to do it even if I may not have it at the beginning.” ― Gandhi

Jamie Glass, CMO & President of Artful Thinkers and Managing Director of Sales & Marketing Practice at CKS Advisors.