November 2005 Sales Success Newsletter

In this month’s issue…
 
The year is winding down and we’re all ready for a little R&R, but unfortunately it also means that we have to wrap up pending proposals to finish the year strong and start planning to get a jump start on 2006. This month I have a timely article to help you have a more productive December (that month when it seems harder than ever to sell) and thoughts on planning for next year.
 
We all know that Cold Calling – setting appointments over the telephone with brand new suspects is something that we all must do if we’re going to grow our customer base and increase our revenue. Unfortunately it’s also one of those things that most everyone could do better. This month, Stephen Schiffman, President of D.E.I. Management Group, and author of "Cold Calling Techniques (That Really Work)" tells us nine principals that will increase our Cold Calling success.
 
In order to successfully move our prospects through our sales cycle and closer to closure we must gain a "next step" in the sales process in order to move the opportunity forward. Steve Bookbinder teaches us about the art and skill of obtaining next steps with prospects and the benefits that brings to us and our prospects.

Here’s to your sales success!

Kent Howell

Preparing for the challenges of the holidays

It's not too early to begin thinking about the challenges of selling in December. Remember, not only do you have the end of December to consider, but you've also got the Thanksgiving holiday in November to complicate things.

Don't give up on selling in December just because of the holidays. It is true that it becomes more challenging because people's attention turn to family and other non-business pursuits of the heart. However, proper forethought and planning can still make December a profitable month.

I've personally closed several deals between Christmas and New Years. They're not easy, but they are doable if you plan ahead.

Additionally, that week between Christmas and New Years can be a very productive time for you if you think about it and leverage the slower than usual pace that is generally present that week.

Food for Thought:

• Some prospects will have budgets that expire at the end of the year and money left to spend - Do you know who they are?
• Some prospects will have product/service needs but no budget left - Can you get creative with delivery or payment terms to take advantage of that year end challenge?
• People are generally in a good mood as the holidays approach.
• If things do slow down for you in December, can you leverage that 'jolly spirit' by taking time to either say 'thanks' for their business, and/or ask for referrals?
• Customers are either trying to close out the year themselves or they are already turning their attention to next year - Do you know which is which, and can you can you use December for planning sessions for next year?

Closing Business in December:

If you are trying to close business by the end of year, remember, many decision makers (particularly high level ones) will very likely be out after the 16th this year. Make sure you are targeting that date as your 'end of month' if necessary. At the very least, your deal must be done in everyone's minds except for the crossing of the 'Ts' and the dotting of the 'Is" by then. If you can't get the deal totally done by then:

• Know and confirm the decision making process in detail
• Know who the decision maker is
• Know where the decision maker will be if you'll need a signature or 'okay'
• Know how you're going to get the documents to the decision maker if necessary - no assumptions
• Make sure the decision maker is in the loop and expecting your package
• Know the decision maker's personal contact info - just in case
• Have a 'coach' on the inside to help when 'Murphy' shows up and something changes at the last minute - assume this will happen
• Make sure the decision maker has YOUR personal contact information - you'd sure hate to blow this deal because the decision maker couldn't get a hold of YOU

Leveraging the time between Christmas and New Years:

• Take time to review your performance for 2005 - What did your ratios look like, what are you going to change/improve to meet next year's higher goals (you know they'll be higher, don't you?)
• Set your goals for 2006
• Some people DO work that week as well, so make some time to get on the phone to set some appointments with hard to reach people - Don't assume no one is there - And by the way, fewer gatekeepers will be there!
• Schedule quality time with customers who will be working - you'll get greater mind share when they're more relaxed - find out before the 16th, though
• When sending cards and gifts - make sure they arrive before the 16th
• And one last suggestion - MAKE the time to spend with your family and recharge YOUR batteries

Here are the nine proven principles that will support a successful cold calling campaign in virtually any industry. Follow them!

1. Rather than set a daily "number-of-dials" goal, set the goal for the number of first appointments you want to maintain AT ALL TIMES. As you learn more and more about your conversion ratios (see principle #3), make the adjustments that make sense for you to achieve your activity and income goals.
2. Make cold calls daily with the objective of setting at least 1 new appointment every day. This does not include networking meetings. Block the time out and call for an uninterrupted period. Don’t send email or receive incoming calls during that block. Approach this activity with discipline and a sense of urgency.
3. Begin tracking your dials, completed calls and appointments set on a daily basis right now. Compile your results daily; benchmark your activity to assess your success and help determine your true ratios.
4. Do not stop dialing if you are not meeting with success. Stand up, take a break, practice, reread this article… do whatever you have to do, but don’t stop. If you are calling within a particular industry and are finding appointment making tough, diversify your leads.
5. Always be prepared to cold call. Have an identified lead list ready with you always; use it when you have unexpected time available. Don’t let organizational issues get in your way. Do not research or prioritize your calls between calls – your calling time is your peak sales time! Do that work "off-peak."
6. Learn the appropriate third party references. Briefly reference your company’s past and current success stories– but don’t let a lack of complete knowledge keep you from making calls. Don’t promise you can do the same thing for this prospect as you did for the ABC Company. Instead, ask for a meeting so you can learn more about the person’s unique situation and share what you did with ABC Company.
7. Practice each aspect of the calling process until you are comfortable and confident with your approach. Prepare for the specific objections you will hear; be more ready to turn them around than the other person is to brush you off. When in doubt, say, "You know, a lot of people told us that before they saw how we could …"
8. Ask directly for the appointment. If you haven’t asked for one meeting at one specific date and time during the course of the call, you aren’t doing it right.
9. Don’t kid yourself. Sales come from prospects and prospects comef from appointments.

The Art and Skill of the Next Step

By Steven J. Bookbinder

In selling, a “Next Step” is tangible evidence that someone is working with you – playing ball with you. It’s not a “gut feeling” that the person is interested in playing ball with you, but proof of that interest.

At D.E.I Management Group, where I work, we believe that interest is demonstrated by action. That action takes the form of an agreement to meet with you, speak to you, or do something for you … typically within the next two weeks. This is the Next Step.

SIX REASONS TO FIGHT FOR A NEXT STEP

Reason #1: It Shortens Your Selling Cycle

At the end of a sales meeting, most salespeople say “I’ll call you in a week or two.” They end up wasting all kinds of time playing phone tag. Why not set the Next Step while you’re still face to face? You can save 1-3 weeks between each meeting – and perhaps as much as a month off your overall sales cycle. (And you can save time every day by avoiding phone tag, too.)

Reason #2: Territory Management

Once you know you are meeting again with this client, you can set another appointment in the area. You can work IN ADVANCE to set up other meetings. This contact may be more likely to meet with you at hard-to-fill time slots (8:00 am, 4:00 pm) than someone you have no rapport or history with.

Reason #3: Time Management

Fact of sales life: The proposal that’s due “sometime next week” will probably slip to the bottom of your priority list. The proposal that’s due because of a meeting you’ve scheduled for next Tuesday at 2:00 will be less likely to slip. Find out exactly when it’s “DUE” so you know when to “DO” it. Why? Because there are three things you should always make a conscious effort to schedule: meetings with prospects; work you have to do BEFORE a meeting with a prospect; and prospecting time.

Reason #4: You’ll Know Who to Follow Up With

Let’s say it’s a “busy month.” Maybe you have 20 first appointments in a “busy month.” Say that 7 of them don’t go anywhere – you get a clear NO or the person is obviously unqualified. If you don’t ask for a Next Step, at the end of the first meeting ... that means 13 people are in “call-me-next-week-sometime” mode. Come to think of it, you also have 13 people like that from LAST month… and 13 from the month before that ... But suppose you’ve only got time for five quality proposals this month. Who do you focus on? Well, if you regularly ask for a Next Step … you know EXACTLY who you should write a proposal for... the people who agree to a Next Step! Remember … Interest is demonstrated by ACTION. You are prioritizing people who agree to Next Steps because at least they agreed to see you again. The others, when asked, DIDN’T agree to see you. So here’s the question: If they didn’t agree to SEE you … what makes you think they’ll BUY from you?

Reason #5: You’ll Send the Right Message

Translation: Your time is valuable, too. Consider this: We teach people how to buy from us. So we don’t want to say, “When are you free?” … but rather: “I’ve got a slot at 11:00 on Tuesday, does that work?” Sending the “When are you free?” message is professional suicide. Why would you want to send someone the message, “I’ll travel two hours out of my way to spend two minutes with you”?

Reason #6: You Worked Too Damn Hard to Set up the Appointment in the First Place

You’ve made a sizeable time investment to set this up, drive out, and meet with the prospect. Why walk away from that without a commitment?

SIXTEEN WAYS TO ASK FOR A NEXT STEP

1. When You Want to Get Corrected (This is probably the simplest and most effective Next Step strategy.)

“I think this meeting went well.”

“Here’s why I think it went well. I think I see a possible match between what you’re trying to accomplish and what we do.”

“SO... let me tell you what I think we should do. “

“I want to come back here on Tuesday at 2:00 and show you an outline of how we might be able to work together, based on what we’ve talked about today. Does that make sense?”

2. When You’ve Hit a Technical Obstacle

“Let me come back here on Tuesday at 2:00 and introduce your tech people to my tech person.”

3. When You Want to Escalate the Sale

“I get the feeling I should meet your boss. Why don’t you and I meet with him on Tuesday at 2:00?”

4. When You Want to Escalate the Sale (Variation)

“I really get the feeling your boss ought to meet my boss. Let’s set up a meeting. How’s Tuesday at 2:00?”

5. When You Want to Gain or Regain Access to Key People

“Let’s meet with your team for an hour -- so we can all work together to build the proposal for you. How’s Tuesday at 2:00?”

6. When You Want to Reassure the Prospect

“Let’s have a meeting with Happy Customer. You really ought to talk to him. How’s Tuesday at 2:00?”

7. When You Want to Position Yourself as a “Virtual Employee”

“I’ve got an idea. Why don’t I talk to your team about what they’re doing … and do a little free consulting for you? I’ll give you my analysis. We should really set up a date for me to report back to you. How’s Tuesday at 2:00?”

8. When the Prospect Is Having Trouble Visualizing the Benefit of What You Sell

“I’ve got an idea. Why don’t you come by and sit in on one of our programs/training sessions/other customer event. How’s Tuesday at 8:00 am?”

9. When You Want to Improve Your Relationship by Spending Time at a Neutral Site

“I’ve got an idea. We’ve got tickets for a special industry event/trade show, and I’d love for you to be there and see it. How’s Tuesday night at 8:00 pm?”

10. When You Want to Exchange Access to Their People for Access to Your Product

“I’ve got an idea. Why don’t I set up a demonstration for you and your boss so you can see how this product works. How’s Tuesday at 2:00?”

11. When You Want to Help Them Visualize How You Can Benefit Them

“I’ve got an idea. Why don’t you come by and visit our facilities so you can see how we work and meet our key people. How’s Tuesday at 2:00?”

12. When You Want to Reassure Them That You Understand Why They’re Different

“I’ve got an idea. Why don’t I take a tour of your plant and see it first hand. How’s Tuesday at 2:00?”

13. When You Want to Rescue a “Fallback” – a Dormant Lead

“I’ve been thinking about the plan we put together for you, and I’m not happy with it. I have a new plan I want to show you. Can I come by Tuesday at 2:00?”

14. When You Want to Rescue a “Fallback” – a Dormant Lead (Variation)

“I was just thinking of you. We really ought to get together again. Can I come by Tuesday at 2:00?”

15. When You Want to Rescue a “Fallback” – a Dormant Lead (Variation)

“I’m going to be in the area, I’m meeting with XYZ Company. We ought to get together again so I can see what you’re doing. Can I come by Tuesday at 2:00?”

16. When You Want to Rescue A “Fallback” – a Dormant Lead (Variation)

“I have an idea I want to discuss with you. Can I come by Tuesday at 2:00?”

FINALLY, REMEMBER THIS …

Whatever the situation, you must make absolutely sure the Next Steps you suggest are …

* Clear

* Perceived as Helpful

* Easy to Agree to

If you don’t get a Next Step when you ask for one, it may be because you’re suggesting something that is hard to understand, not perceived as helpful, or difficult to agree to.!

About Steve Bookbinder

As D.E.I.’s President of Franchising, Steve Bookbinder brings a wealth of management, sales training, and sales experience to the organization. He joined the company in 1987. Steve has had the opportunity to teach, coach, observe and mentor 30,000 sales professionals, ranging from financially successful veterans to the most junior new hires. With a background as a competitive swim coach, professional entertainer, salesperson and sales coach, Steve injects humor, passion, and a strong dose of reality into his programs. He has delivered D.E.I. training for clients such as AT&T, GE Information, Motorola, ExxonMobil, Lexis/Nexis, Blue Cross/Blue Shield, Merrill Lynch, Chase Manhattan Bank, Cohen Financial, EMC, and others representing nearly every commercial and industrial category.