Posts Tagged ‘sales’

Networking Right Side Up

Monday, August 30th, 2010

Many people go about networking backwards. They say, “I need to meet people” and then run out to find an event. They meet people, do one to one meetings and perhaps even have a decent follow up system in place. But often they still don’t get the results they were looking for.

Why is that backwards? Isn’t networking about meeting new people and building relationships with them? Of course it is, but, like anything else in business, you need to network with a plan and purpose. Over the next few posts, I’m going to break networking planning down into discrete steps. Along the way, we’re going to talk about some concepts that will make you better at selling your product or service. How’s that for a two-fer?

I’ve said I don’t recommend starting with the “meeting people” part. So where do I think you need to start? Here’s the progression I recommend:

1. What pain points bring clients to you?

2. How do you relieve their pain? (otherwise known as your value proposition)

3. What are the other complementary (but not competing) businesses that are serving your ideal clients?

4. Where do those businesses network?

5. How can you add value to those businesses to motivate them to refer you?

6. How can you educate them to refer you?

If you can answer those six questions, you’ll have an excellent outline for a strategic networking marketing plan. You’ll be able to evaluate networking venues based on whether they are attracting either your target market or your strategic partners. You’ll have a message and value statement to help you get referrals and close clients. And finally, you and your strategic partners will know exactly how to help each other, which will lead to a stronger relationship. And more referrals!

Tomorrow we’ll start with pain points.

Social Media: Don’t Forget the Strategic Partners

Monday, August 2nd, 2010

I’ve written a lot about finding and maintaining relationships with strategic partners. In case you don’t remember who those are, they are the non-competing, complementary businesses to yours. In other words, the people who are marketing to the same clients as you.

While businesses do use social media to find clients, many forget that they can look for and “meet” strategic partners there as well.

Last week, I was running my Netmasters group, and James Meyers of Celestial Cheesecakes had an “aha!” moment when he realized he could use Twitter to reach out to restaurants who want to sell his cheese cakes. He’d been trying to figure out how to use Twitter to find individual customers, and he’d gotten stuck on strategy. Once he realized he could use social media to find and build relationships with restaurants and coffee shops, he suddenly saw the value.

By the way, James’ cheesecakes are wonderful! Check him out and follow him on Twitter (linked to in his name above).

So who are you looking for as strategic partners in social media? And how can we help you get to them?

What Is Follow Up?

Thursday, July 29th, 2010

That may sound like too obvious a question, but it came up recently in an email exchange with a contact.

In the exchange, I was using “follow up” to mean touching base with anyone from a potential client to the guy I met at a networking event last night. The other person was using it just to mean staying in touch with clients and prospects.

Both are valid definitions. Depending on your business, follow up may even mean something slightly different. Understanding exactly what follow up means to you will help define your strategy.

If you are like me, you need to stay in touch with a lot of people, on a regular basis. I use lots of tools, including social media and an e-newsletter, to keep on top of it. I would hope that any of you reading this keep in touch with a variety of people.

But what if your primary follow up is with clients and prospects? Does that change your strategy?

I think it changes it a little bit. My follow up can be free form. When I think of someone, I can touch that person. I don’t necessarily require a schedule. I do try to create an action plan of follow up immediately after a one on one meeting, but once that’s accomplished, I don’t need a specific plan.

If you are following up with prospects, an action plan after each touch is extremely important. If you and the other party mutually agree on the next action, it makes it much easier on both of you. Each knows what to expect, and neither of you feel like the interaction is another way of saying “Ready to buy yet?”

Always keep your follow up goals clearly in mind. Let those goals guide your strategy, and it will feel more natural to all involved.

Swimming In the Right Prospect Pool

Thursday, June 17th, 2010

When I started in sales, I read somewhere that prospects can fall into one of three general areas:

1. So deliriously happy with their current solution that they’d never consider switching

2. Actively shopping for your product or service

3. In need of your product or service but not aware that a solution exists.

The breakdown I remember was something like this:

If the numbers are correct (and in my experience, I think they are pretty close), there’s a 90% pool that’s worth going after.

Most salespeople go after the the 30% pool. They are the relatively easy low-hanging fruit. They know your product or service exists. They know (or think they know) that it meets their need. And they are relatively close to making a buying decision. So what’s not to like?

They are also actively shopping your competition. When I sold windows, we called them the “Three Estimate Crowd.” They knew they needed windows, and they were in the process of getting three estimates before making a decision. Your challenge in closing them is that they are highly price conscious. I went on many sales calls where my company had been given a glowing recommendation from a past client. And yet, they still got three estimates. Frustrating.

What about the 60% pool? They are harder to attract because they may have a need, but it hasn’t grown to the point where they are ready to make a decision. Or they don’t yet know they have a need because they are completely unaware that a solution exists.

But, and here’s the important point. If you can get in front of them and show them an answer to a question they hadn’t asked yet, they are highly motivated to buy from you. Think about it. You are hungry, but you don’t know that food exists. Then someone shows up and hands you an apple. What’s your reaction going to be? Hmm, an apple. I’m not sure. Let me first try out a pear and an orange and then I’ll make a decision. Not likely! I’ll bet you grab the apple, eat it and proclaim it good. Then you’ll go looking for more apples.

With prospects, it can be the same. Show them a solution to a problem they hadn’t known could be solved or hadn’t yet hit their radar, and they are more likely to buy from you instead of shopping around. They might not do it today, but if you respectfully stay in touch with them, they’ll get there some day.

Don’t get me wrong. You need the 30% group too. They want to write a check soon. You need those customers. But having a bunch of the 60% to cultivate can keep your pipeline full forever.

How do you find them if they don’t know to look for you? That’s where networking and social media come in. Over the next few days, I’m going to show you how to use those channels to attract those 60% and turn them into clients.

Don’t Treat Your Customers Like Idiots

Thursday, May 20th, 2010

I both love and hate it when my competitors act stupidly. I love it for the obvious reason. Them acting foolishly makes me look better. Sort of.

But when our niche is networking, and a competitor violates a basic principle, that just brings us all down.

What the heck am I talking about? A competitor of mine is currently offering a “sale” on Twitter. There are two problems with the sale.

1. The product is an ebook, but the product page doesn’t mention that, and the picture makes it look like a paper book. Don’t play games with me. If something is an ebook, tell me. If it’s paper, tell me that. I’m assuming she’s being deceptive because she doesn’t perceive value in ebooks. I could be totally wrong in my assumption, but considering the price she’s selling it for (extremely high), that’s the message I’m receiving. And in communication, the message heard is far more important than the message intended.

2. But the bigger problem is the “sale” part. The sale is a bundle including the afore-mentioned ebook and a couple of audio downloads for a package price. Sounds cool, eh? Not really. I calculated the price if I bought the three items separately. They actually cost less to buy separately than if I buy at the “sale” bundled price.

Some sale, huh?

Either she is math-deficient or she thinks her customers are. Either way, she’s not representing herself or our niche very well.

The moral of this story? Consider your message carefully. Assume your customers are bright and treat them with respect. Networking is about relationships. Do you maintain relationships with people who act like you’re an idiot?

I didn’t think so.

Blog Posts are Useful

Monday, May 3rd, 2010

Bloggers tend to be insecure people. We worry about who is reading our posts or if anyone is reading them. We obsess on how many comments a post gets. Does a post get retweeted?

Guy Kawasaki in his book, Reality Check, says that a blog is valuable even if only your dog reads it. He’s right, and I’ve had some recent experiences to prove it.

One of the most obvious uses for a blog is material for books. I’m working on compiling some of my themed posts into a series of e-books. That’s in addition to the fiction ebooks I wrote about last week. I’m soon going to have a ton of ebooks for sale.

Back to my post on writing and selling short fiction. I considered that almost a throw-way post. I was tired and needed something to write quickly. Well, recently I was meeting with someone who has a friend who wants to get a book published. She asked if I could coach her friend through the process. I said I thought I could and suggested she send her friend a link to my post. Not bad for a throw-away, desperation post!

I used a post as a way to get a referral for a contact. Remember my post on the guy who was such an awesome networker? I used a link to that post in an email to a contact he wants an introduction to. If I liked someone enough to write a post about him, that should be a compelling reason to agree to an introduction.

Finally, last week, I was at a networking event, and a financial planner was talking to me about bringing me in for a lunch and learn in her office. I sent her a link to my post on Social Media and Regulated Industries. That post establishes my credibility as someone who can speak on the topic and gives a nice teaser.

So your blog posts have value beyond who read them (or didn’t) or who commented on them (or didn’t). Be creative and find other ways to make them work for you.

Anyone other bloggers have a good story to share in the comments?

Great Use of Foursquare

Tuesday, March 9th, 2010

This post on Hubspot was brilliant for showing an out-of-the-box use of Foursquare by throwing a Swarm Badge party.

For those of you who aren’t yet riding the Foursquare wave, the Swarm badge is a big deal. It’s one of the hardest badges to get because 50 people all have to be checked in to the same location at the same time.

Joe, the restaurant owner written about in the post, clearly understands both social media and the right way to use it. He recognized something his clientele wanted, and he found a way to help them get it while also promoting his business.

That’s a clear example of Givers Gain! And it shows that social media is more than a time-wasting fad. People ask me all the time if you can really get business from social media. Joe certainly demonstrated that you can.

But, like with any other sound marketing technique, you have to understand it and how to work it. It’s not enough anymore to blast your brand. You have to engage your audience to understand what they want. Providing them with a “special offer” is good. But it’s not enough either.

Tomorrow I’m going to discuss why engaging with your market is so important. And, of course, I’ll provide some ways to engage.

Oh, and I really want a Swarm Badge too. Know any restaurants who need help with their social media strategy? Send ‘em my way, and I’ll help them get set up in social media so they can throw their own party. I’ll invite my Foursquare friends, and we can all get our badge.

Interview With Bob Burg: Part Two

Friday, February 19th, 2010

Bob Burg Today we have Part Two of my interview with Bob Burg. Yesterday was the official launch day for Go-Givers Sell More, his new book. If you haven’t already bought it, go do so quickly. It’s that good.

And now back to Bob.

Q: How is this book an extension of The Go-Giver?

Bob: What we did is we took the 5 Laws from The Go-Giver and we applied them directly to the selling process. We used quotes from The Go-Giver and peppered them at the top of chapters. And we’ve gotten just terrific feedback on that. That was John’s idea, and I thought that was wonderful.

We also provide examples of people who do utilize the principles from the book and have used them to really build their business. Plus we’ve included example from people John and I have known who were doing this long before The Go-Giver was ever written.

Q: You describe 5 Laws in the book: Value, Compensation, Influence, Authenticity and Receptivity. Which one do you think gives people the most trouble?

Bob: Without question, the biggest one is the Law of Receptivity. People have said to John and to me, “Wow, the first four laws I could get my hands around like they were polished wood, but this one, the Law of Receptivity, just gave me splinters.” It’s probably the one we’ve been able to help people with the most because it’s their biggest challenge.

It’s very easy to grasp the Law of Value, and the Law of Compensation makes perfect sense, you know, increase the number of people you’re serving. The Law of Influence, that’s a matter of understanding that putting others people’s interests first is a key to success. With Law #4, Authenticity, most people want to be their best authentics, so not a problem. But the Law of Receptivity: breathing in as well as breathing out. Being able to receive in abundance. That can give people some challenges.

So that’s why we made a real point in both books to really work with people on that and really demonstrate it in a way that people could very easily embrace.

Q: Let’s say you were speaking to some people who are just starting out in sales. What one thing would you most want them to know?

Bob: The first thing I would do would be to ask them to read and study it as a profession. To understand that sales is a profession. Not only do they need to be proud of their profession but proud of their product or service and so forth. They need to absolutely understand the selling process. So they need to study the sales greats. They need to study the Brian Traceys and the Zigs, and they need to study the people out there. They also need to understand, and this is the biggest one, that in sales, it’s not about you. It’s not even about your product or service. It’s about the other person. If you can go in learning as much about selling, and being totally focused on adding value to the life of the other person, you’ve got to succeed in sales.

Q: You say that they need to study sales and the sales process, but in the beginning of the book, you take a contrarian view to the standard sales process taught by many.

Bob: No, the good ones teach it correctly. In the book it sounds like we are downplaying sales skills. We’re not. We’re saying that selling skills by themselves are not enough to make someone successful. It’s like a baseball player has to be able to throw, to hit and to run. But those in and of themselves aren’t going to make him a successful ball player. That’s just baseline. And in the same way, what we say is people have got to have belief in what they’re doing and in their product. They’ve got to have great product knowledge. They’ve got to have the sales skills, but those things are just what it takes to be invited into the game.

The superstar sales people are not superstars because they have belief, because they have product knowledge or because they have great selling skills. They have them all, but that’s not what separates them from the rest. What separates them from the rest is their total focus on the other person.

You take a look at referral-based salespeople, Juli, and what is it about them that’s so prominent? It’s that wherever they go, they spread this great good will. They tend to touch people’s lives. They make people better. They make people happier. You know? That’s the difference. And you do that by having the focus on the value you can provide to other people.

Q: And now you’re talking to some who’ve been in sales for several years. They have the passion, belief and basic sales skills. What would you say to help them take it to the next level?

Bob: I would say if they are not as successful as they believe they should be, then it’s probably the focus. And I would simple say, “Shift that focus. Make sure your focus is on the right place.”

You know, back when I was just starting to get good at sales and starting to produce, I met a salesperson who was getting ready to retire, and he gave me some words of wisdom I’ve never forgotten. He said, “Burg, if you want to make a lot of money in sales, don’t have making money as the target. The target is serving people. Now, when you hit your target, you’ll get a reward. That reward will be money. And you can do with that money whatever you want, but the money is not the target. It’s merely the reward for hitting the target. The target is serving others. Keep your priorities straight.”

Q: Good reminder on the priorities. Any final words?

Bob: Just to keep in mind the basic premise that in sales, it’s not about you, it’s about them. And if you can keep that at top of consciousness, you’re always heading in the right direction.

Thanks, Bob. I very much appreciate you taking the time to talk with me. I hope all my readers enjoyed it as much as I did.

Network (and sell) well!

Interview with Bob Burg: Part One

Thursday, February 18th, 2010

Bob Burg A couple of weeks ago, I reviewed Go Givers Sell More. Last week, I emailed Bob and asked if he’d be willing to be interviewed for my blog. To my everlasting delight, he agreed. Cover of Go-Givers Sell More

As you can see from the picture, today is the launch day! If you use the link above, you’ll be able to buy the book and get some great free extras. Go ahead, you can buy the book and then come back for the interview. We’ll wait for you.

Back from buying the book? So here’s the first of what I plan to be a periodic series of interviews with influential people in networking, both in face to face and in social media.

Enjoy hearing and learning from a master of sales and networking!

Q: I see you’ve been a speaker and presenter for 20+ years. What did you do before? Why did you decide to begin speaking, and why on the topic of networking and referrals?

Bob: I began as a television broadcaster, wasn’t particularly good at that and realized it wasn’t going to be my career. I graduated into sales but very quickly realized I had no idea what I was doing. Fortunately I found a book called How To Master the Art of Selling by Tom Hopkins, read that, and it immediately accelerated my sales. I then studied some books and tapes by Zig Ziglar, and I made a study of sales. Eventually I made my way up to sales manager of the company.

Q: Curious, what were you selling?

Bob: I started out by selling media time for radio and television commercials and then I sold solar energy hot water heating units to homeowners. That’s the one where I worked my way up to sales manager of that company. I found I really enjoyed that because I got to go out and sell, and I could lead a team of sales people. I enjoyed teaching sales. I enjoyed learning and then teaching what I had learned. Informally a couple of other companies asked me to come in and show their sales team what I was doing, and I thought wow, this is fun, and I think I could make a living at it. So I went into that business. And it’s been just about 20 years.

I found that the networking aspect was really my forte. Creating relationships with people that lead to a referral based business is certainly a lot more fun than gathering business in other ways. I found I was able to master the art of referral marketing, and then it was a matter of putting together a system for it that I had been using and being able to teach others how to do the same. And that’s where my first book, Endless Referrals, Networking Your Everyday Contacts into Sales came from. That’s been sort of mainstay book that’s been used by a lot of companies, and then with my excellent co-author, John David Mann, we came out a couple of years ago with The Go-Giver.

Q: You’ve shared the stage with many famous people, including former President Gerald Ford. What person were you most excited to be on stage with?

Bob: It’s tough because there have been so many: Zig Ziglar, Tom Hopkins, Brian Tracey. All those guys were more exciting than the celebrities to me because these are the people who helped shape my career. So to actually be on stage with them was just a huge thrill for me.

Q: You say in the book, Go-Givers Sell More, that the ideas didn’t originate with you, and I agree. Much of what you say I’ve heard in other books or presentations. So why this book? And why now?

Bob: Well, first I am fairly certain, Juli, that I have never had an original thought in my life. There is so much great information out there, dating back from thousands of years to a hundred years to new books coming out all the time that I just find terrific and so helpful.

I think the key is not so much coming up with something new as either a new application of an idea or putting something together in way that is relatable and duplicatable. I have to totally credit my co-author John David Mann here. He is the writer. I’m a how-to guy, but John is a storyteller, and boy is he good. He can take an idea and just absolutely masterfully word it.

But we’re a little bit contrarian in Go-Givers Sell More. As you saw, we say most people look at sales backwards. Most people think it’s trying to get someone to buy something they don’t want to buy when sales is finding out what someone does want to buy and helping them get it.

The biggest misconception is that sales is a matter of getting from others. It’s not. Sales at its highest level, at its most profitable, at its best, is all about giving. And as you saw, the Old English root of the word “sell” is “sellan” which means “to give.” So when you sell, you are giving. You’re giving time. You’re giving attention. You’re giving counsel. You’re giving empathy. And most of all, you’re giving value.

We take some of those ideas and we turn them on their head a little. However, and this is important, these ideas are only contrarian to those who are the average producers. The superstar, mega-producers: it’s not contrarian to them. This is just how they’ve been doing business.

—————————————————–

Thanks for that, Bob. Tune in tomorrow for the rest of the interview where Bob tells us a bit about the 5 Laws presented in the book, including which one is the hardest for people. He’ll also give us some words of wisdom for both new and established sales people.

Until then!

The Other Side of “No”

Thursday, February 4th, 2010

Last week, I wrote about getting some “no’s” and how you can say “no” well and not so well.

Today I want to write about how getting a no can motivate you to get out there and make something happen.

I admit it. I was more than a little upset to lose two potential clients in the same day. Maybe if I had read Go Givers Sell More (reviewed last week), I would have attracted them as clients. But maybe not.

What I did do was think hard about some things I could do right away to talk to more people and possibly turn those conversations into clients.

I’ve been coaching a client on touching his database to find more referrals. What works for him can work for me since I have a new side to my business. I haven’t touched my entire database to let them know about the social media side of my business. That is certainly something I can do.

I had some ideas to refine for a presentation I am working on. I reached out to touch a contact and get more information. That touch has turned into a face to face meeting to explore a possible partnership.

I came up with some good ideas to make last week’s Netmasters meeting more engaging. That might not directly lead to more clients, but someone at the meeting asked me to include a reminder in my invitation for attendees to invite others. That will lead to more people attending the event. And he wouldn’t have asked if the session hadn’t been enjoyable and informative.

Not bad for kicking myself after getting some “no’s.” What about you? What do you do to get yourself back on track after rejection?