Solve the Right Sales Problem!

Sales executives are feeling the pressure to ensure that sales quotas are met and that pressure often leads to fear, desperation and a focus on short-term sales results.

Don’t get me wrong…achieving monthly sales objectives are important. If there are no sales then ultimately there is no business to run. I’ve been a sales professional for close to 30-years and a business owner for almost 10, so I get it. Consistent revenue flowing in the door month after month is a must. Here’s what worries me though. This short-term focus leads many sales reps to ignore some of the basic fundamentals of selling in a social sales world. I know this because of the steady stream of unsolicited sales pitches I receive on a daily basis.

Don’t Abuse the Medium

A phrase that I’m fond of using is “Just because you can, that doesn’t mean that you should.” As the world of sales continues to evolve and transform as a result of the widespread use of social media, many sales professionals need to take a crash course in online etiquette. Sending potential buyers a spam sales pitch is akin to a cold call only worse. With voice mail, your message leaving time is typically pretty short, but when you send email you can go on forever about how grand your product is service is and believe me…many do.

Relationship First, Selling Second

If sales teams aren’t producing consistently, perhaps the answer isn’t in pushing them to “work harder”. Let’s face it folks… activity should never be confused with sales effectiveness. Insisting that your sales reps make 100 cold calls per day is activity, but is it truly effective? Though many old school sales folks will respond with a resounding – yes, cold calling works – the reality is that cold calling doesn’t work and adds expense to the sales cycle to boot. To me, it seems a bit delusional to think that calling 100 strangers whose business you know nothing about will lead to anything meaningful from a sales perspective. The same goes for sending your peeps out into the world telling them to “go bang on doors”. Seriously?

Social media provides a unique opportunity for today’s social sales professional. Instead of banging on doors, sending spam email or calling 100 strangers, why not put that time to better use? To improve your sales close ratio, what if..

  • You created a target list of the top 50 companies that you want to do business with and you used tools like LinkedIn or InsideView to learn more about their people and their business BEFORE making that first connection.
  • You looked for ways to do something of benefit for the prospects that you are targeting without asking for anything in return? Use LinkedIn to share industry presentations, articles, white papers or perhaps send a sales lead their way.
  • You understood that you get ONE chance to make a solid connection and a great impression. Don’t blow it by sending people the same old boring sales spam email that you just sent to everyone else.

Fix the Right Thing

When sales are off, please avoid the temptation to insist that your sales people just “do more”. Doing more of what already isn’t working will not lead to different results. Einstein defined that as insanity.

If you want different results – do something differently!

 

Sales Persistence Pays

On a recent webinar with Renee Walkup, we were discussing ways to get people to return our telephone calls. The answer is pretty simple really. Consistently get back on the telephone. Yet, surprisingly, many people will often give up after just one or two calls. I’ve met countless people who complain that they never receive a call back and when I dig deeper, I discover they called their prospect just once. Really? Frankly, it can take as many as 7, 10 or 15 calls just to connect with someone. Given how pressured people are in business these days, that makes sense. What doesn’t make sense to me is why people give up so easily.

Using the telephone as a component of your social sales process is often forgotten these days. In my opinion, too many people with something to sell are hiding behind email. Just this morning, I received a sales pitch from someone that I don’t know. We happen to share a LinkedIn group, but beyond that I have no idea who they are. Still, I’m receiving their sales pitch as the very first connection with me, not to mention that their message was all about them. So what? What’s in it for me? This spam approach is a surefire way to lose a sales opportunity before it even begins. I’m not sure if “phone phobia” is about fear of rejection or because someone thinks that sending a mass email is easier than picking up the phone. But in my experience, once you have a qualified lead (I emphasize qualified) in hand, using the telephone is a great way to move the sales process forward more quickly.

Let’s face it, sales success is about follow up and follow up is tough. As I write this post, I’m staring at a stack of business cards that are screaming at me to connect with the people I’ve met this last week who expressed interest in my services. So, I get it, especially if you are a smaller business where most of the hats are being worn by you.

Here are 3 things that you need to accept about the sales process; otherwise, you’ll drive yourself crazy.

  1. People are busy. Your prospect has their own work to tend to. It’s not personal, and it is your job to stick with it. Follow up and remaining visible are critical.
  2. You aren’t the only game in town. Hate to put it so bluntly, but all of us have competition and they are just as hungry for the deal as you are. Remember that you need to find ways to stand out – be memorable. By the way, your competitors are probably giving up pretty quickly themselves. If you don’t – you have the edge!
  3. A sale rarely happens immediately after a first meeting. People buy from people that they know, like and trust. Building a relationship takes some time.

Let me put it into perspective…

In Dan McDade’s book, The Truth About Leads, he points out that 45% of “qualified” leads will close within a year. He goes on to say that:

  • 10% will close in 3 months
  • another 16% in 6 months
  • another 19% within the year

That suggests a big sales problem if you are giving up after a couple of phone calls. I find that it’s a delicate balance between closing business now and nurturing the sales potential that won’t close until later down the road.

Look at it this way…if you give up too quickly, you are guaranteed not to close the sale. What have you got to lose by continuing to stay in touch?

 

13 Ways to Gather Great Blog Content

You’ve decided to launch a blog. That’s terrific, congratulations. With roughly 200 million blogs out there, it is hard to ignore the power of blogging’s potential and power. In what remains one of my favorite social media videos, Erik Qualman’s Social Revolution 2, tells us that 35% of bloggers post “opinions” about products and brands. There are certainly huge benefits to using the power of a blog to create community with your clients and future buyers. If they are posting their opinions for others to read, don’t you want them talking favorably about you? That one’s easy…of course you do.

Right now, I’m making the assumption that you’ve…

  • Determined your purpose? Check.
  • Have your plan defined? You bet.
  • Metrics for success established? Absolutely.
  • Technology chosen? Yup, have that conquered.

So far, so good. You are moving in the right direction. Right about now it is probably tempting to assume that the tough work is behind you, right? Not so fast. What about that content?

Becoming an inbound marketer is critical to your social sales success these days say the folks over at Hubspot. They’re right by the way! Your job is to provide really great content that compels people to come back to your site again and again while encouraging them to bring their networks along with them. But as you may have considered – or maybe you haven’t but you need too – it’s not so easy deciding what to communicate moment to moment, day in and day out, much less putting it into execution, is it? Recognizing how important it is to create engaging, valuable content that people will benefit from that is consistently fresh, relevant and interesting is a tall order. So, your first order of business is to establish your Social Media Posting Schedule.

What’s a social media posting schedule?
Think of it as a tactical plan that keeps you focused on what you want to communicate (post/blog about) to each of the social channels that you engage in. Think blogs, social networks like LinkedIn, Facebook pages and more. You want to think about your messaging themes, topics, who will contribute the content, what date you’ll post your message, etc. Since we’re talking about blogs today, what you need to remember is that once you know WHEN you need to post information and WHAT you’ll be communicating, it makes the process of creating your blog posts less daunting. But to make the schedule work of course, you need gather content.

Since you might be asking…what do I say on my blog each day anyway? To help get you jumpstarted…here are 13 (my lucky number!) ideas for gathering great content:

1. Carry a notebook for blog post ideas…and for those moments of brilliance that pop up at inopportune times. You might have an experience at the local market that leads you to think…hum, that’s something I should talk about. I’m suggesting that you keep a separate notebook for your blog post ideas. That way they are all in one place. When you sit down to consider what you want to write, you want all your ideas front and center in one place.

2. Follow top bloggers in your field. Find the real influencers not just the people with a lot of follower numbers. Regularly contribute to their community by commenting. For your own blog, build on the theme of their posts and the comments in the community. Quote these blogging influencers and link back to their blogs. And, and don’t forget to pay attention to who they talk about or recommend. More potential content for your posts.

3. Repurpose content. What have you previously written about that could be updated for current relevance? Not everything must be created from scratch, but the key is to be relevant. Don’t just “reprint” any outdated piece of work. Add a new spin based on learning’s since you first wrote the piece. I recently posted a post entitled Social Sales One Year Later. I started with a quote from what I had written one year earlier and then talked about what had happened since I first penned the words.

4. Record your brilliance. Most phones (unless your phone is from the dark ages) have software that lets your record your conversations. When that inspiration hits, record immediately. Trying to recall it later will be fruitless. Plus, if you are driving in your car, I don’t recommend digging for the notebook just then. Not in Atlanta anyway.

5. Ask questions, record the responses. Surveys, polls, starting group discussion…by virtue of the answers you receive, great blog posts can come. For example, you might ask your network what they think the traits of a superstar sales person are. Those responses are valuable far beyond having content for your blog posts. Its valuable research information that just may lead to the creation of a new product or maybe it will validate something that you already knew. Either way, it’s all good.

6. Use video. Have you read a book published in your field that inspired you? Create a 2-minute video book review. That becomes your blog post for the day. Or, search out topical videos on YouTube that you can share via blog posts. You simply add a few of your comments of your own to kick off the post, embed the video and let the video do the talking.

7. Webinars. Make it a point to sit in on a few webinars a month specific to your field. You may want to simply report on the webinar in a blog post. Tell people what you learned and why you thought the time you spent was valuable. Include a link back to the archived webinar if available. Or, you may take an idea or two from the session and expand upon it in a slightly different way. If your company hosted the webinar or you were speakers then similar to video, add a few comments about the webinar and include the link to let people listen from there. A word of caution…if the webinar is simply a “sales pitch” versus something topical and informational then ignore what I just said about promoting it. That will look self-serving.

8. Interview people. Thinking back to your social media posting schedule, let’s say that your theme for the week is social media ROI. You can develop a short list of people you’d like to interview. Once you’ve conducted the interview, you have material for your post and that of your guest. You can conduct your interview using the phone or posing your questions over email, but be sure to ask if the person you plan to interview has a preference. The interview gives you both great marketing content and should include links back to each other’s website.

9. Podcasts. Pretty much like the webinars. Listen, learn and leverage. Oh, and the great thing about podcasts is that you can take them on the go. Go to the park, listen to a podcast and either create your blog post on the spot or get the draft of it written by hand. The point is to be strategic; leverage your down time throughout the day.

10. Social media status updates. Scan what others are posting across the web. Is there anything interesting there that you can use for your blog post? Before you start complaining about the time this will take, I want you to sit yourself down – right now – and sign up for Netvibes. Netvibes lets you establish “dashboards” on topics, people, companies and more. Once you create the “search string” if you will, all you need to do is check your dashboards. Everything from Twittertweets to video posts to content all over the web, Netvibes grabs the content across the web and brings it to you. All you need to do is choose what to write about or respond to.

11. Invite guest bloggers. There are plenty of people out there looking for the opportunity to contribute content to the blogs of others. Who do you know in your industry? What about current colleagues? How about customers? You want to make sure that the message of your guests is in alignment with what you want to accomplish with your blog, but I think you get the idea. Don’t think you have to do the work all by yourself. Mix it up now and then. Makes it easier on you and readers like it.

12. Subscribe to news publications (online and print) that apply to your industry. Make a commitment to scan them immediately to look for writing ideas based on the current theme of the month. As an example, the November/December edition of Selling Power Magazine has provided me with content ideas for a number of blog posts for the next few weeks. Don’t forget that you might read about an individual or company that you would like to interview.

13. Join research communities that support your industry. The investment will pay off in the long run. As a premier member of Marketing Profs, I have access to current information, training, webinars, podcasts and a vast array of information to real time content that benefits me as a business owner. One client paid for my membership, so I consider the investment MORE than worth it. BTW, I’m not a partner nor do I receive any compensation from Marketing Profs. I thinkAnn Handley is great, and I highly recommend that you follow her on Twitter. I love the company’s work!

Delivering on the promise of a great blog is hard work, but the rewards are infinitely worth it. Aside from the 13 suggestions I’ve offered for gathering information, I hope you’ll embrace blogging as an opportunity to engage people like never before. Not to mention that you are creating great content for your next Amazonbest seller.

Social Sales One Year Later

“Social media is becoming ingrained in current business practices; therefore, progressive organizations embrace the use of this technology to propel their sales forward. More than a passing fad, social media is a worldwide revolution. The intersection of sales and social media is here.”

Exactly one year ago, I wrote those words. They are as true today – if not more so – then they were 365 days ago. If you haven’t noticed, buyer behavior has changed. Sales scripts and canned speeches fall on deaf ears. Buyers are on social sites asking for recommendations and references from colleagues and friends, because quite frankly, they don’t trust vendors. Your job as sales professionals and marketers is to build trust. That takes time and patience. As they say, Rome wasn’t built in a day.

Enter social media…

Nirvana, right? Wrong!

Technology does make it easier to reach the masses quickly, but I urge you to resist the temptation to start slinging your sales messages out on Twitter the day you first arrive. Would you walk into a networking event and sling your marketing brochures across the room hoping they might hit your target buyer in the head? I certainly hope not. The online world is no different. Your focus is on the relationship not the sales transaction. You need a strategy coupled with the right tools and training on their effective use, which includes the nuances of communication in the online space.

The intersection of sales and social media IS HERE. The big question is…are you ready?

What’s Your Social Sales Latte Factor?

I’m a fan of David Bach’s financial books. In his masterpiece,Automatic Millionaire, he talks about the “latte factor”. The premise is that people will often say that they don’t make enough money to save, but if you look deeper it is because they are wasting money in other areas of their life. Like on latte’s at Starbucks.

Don’t get me wrong, I get that Starbucks is more than the coffee. It’s also about the experience. It’s a hip place to hold a meeting or perhaps work on planning for your next sales call. The question is have you considered the personal financial impact that your daily specialty coffee habit can have?  Bach shows people how a $4.00 a day cup of coffee could be a huge boost to their savings account over time. Do the math yourself.  It’s about $1,000 for coffee 5 days a week throughout the year. What if you put that money in a money market account with compound interest…well, you need to read David’s book to see where you’d be in 5, 10 and 20 years.

What does this have to do with sales?

The same “latte factor” analogy can be applied to evaluting the effectivesness of your lead generation efforts. Daily sales activities can be broken down and quantified into real dollars. Determine the “cost per sales hour” (CPSH) for all members of your sales team. You need to know exactly how much actual selling time is required to achieve revenue goals. Sales managers often overlook the importance of knowing the CPSH, but until they do, they won’t truly understand the impact of wasted time on the sales bottom line. It is expensive when sales people are not maximizing their lead generation time to the fullest.

Do a little digging

It can be easy to fall into a comfortable routine of simply networking at local business associations and chamber meetings. While these may be good, the best sales people do not assume. They also do not confuse activities with effectiveness. Attending a lot of “networking meetings” doesn’t necessarily mean that you are effectively generating leads and closing sales.

Here are a few of the questions that managers need to be asking their sales people:

  • Where are you spending the most time and why?
  • How many leads have come from your attendance?
  • Have we closed any business as a direct result?
  • What other networking opportunities could you be leveraging? Hint: social media, mastermind groups

Review sales networking activities carefully and often. Ironically the ROI of social media is often questioned; yet, these same sales professionals who question social media’s value waste time attending all the wrong networking events, but believe themselves to be successfully selling.

Determine your social sales latte factor. Figure out where your time needs to be invested elsewhere and watch those lead generation efforts start paying off!

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