Facts: You need to make quota!

You need to get your manager off your back!
You need to make bonus!
You need to pay your mortgage!
You need to buy new clothes!
You need to buy a new house!
You need to send your kids to college!

Okay, you get the point. You have needs and therefore you must close the next sale! The problem is if you go a sales call with this mindset, you will rarely close the sale. You will just talk about what you think is important to the customer in hopes of getting the deal.

While most of us truly wish the best for everyone, the fact is we are more concerned with our own issues. Going on sales calls possessed by what you need is not going to get you closer to your customer. You must forget your needs for the time being and concentrate on your customers needs. You do this by asking the right questions, actively listening to their responses, and not worrying about how you will be affected by what they are saying.

So after you make your next sales call, take time to ask yourself the following 7 questions:

1. Did you do most of the talking?

2. Did you start telling the customer what you think they needed instead of asking the right questions first?

3. Did you make your own assumptions based on what you thought the customer was saying?

4. Did you forget to uncover the consequences your customer would face if they did not solve their problems?

5. Did you avoid dealing with any objections because you were afraid it would kill the sale?

6. Did you discount your price too fast in hopes of getting the sale?

7. Did you follow a script and not respond directly to the questions your customer asked of you?

If you answered yes to any of these questions, you were probably self-focused.

Bottom Line: If you operate from a self-focused mindset you greatly reduce your chances of getting the deal. The best sales people today are customer focused, not self focused. They strictly worry about their customers and are there for them all the time. They know if they help their customers get to where they want to be, their payback will be greater than they ever anticipated.

A Titan Sales Executive knows that in order to succeed, you need a good resource proclamation—- a statement to start your sales call with and define the outcomes a customer will realize from using your products and services.

Gary Stewart and his wife Denise are Titan real estate agents who provided us with a classic example of how to present your Resource Proclamation in a dynamic fashion with a recent letter of theirs.

The first paragraph discussed the recent increase in postage rates from $.34 to $.37. To help us easily adjust to this change, they enclosed several 3 cent stamps. Then came the payoff – “We enjoy being helpful. At Coldwell Banker we offer more services than any other company”. Then they list the various services and request that you call them should you need their assistance. And, of course, provide them with referrals.

Their Resource Proclamation is about making life easier when it comes to buying or selling a home. They made it memorable by providing assistance through 3 cent stamps. How many of you still have the old 34 cent stamps that are useless by themselves. And, if you didn’t need the 3-cent stamps, chances are you will remember their letter and keep them in mind for when you or someone you know is ready to buy or sell a home.

Great job Denise and Gary Stewart! You are indeed an invaluable resource to all of us.

Okay, the market is down 20% in a few short weeks. People are being laid off and companies are cutting back. So what! While business may not be booming like it was a couple of years ago, people are still buying. The world goes on. The question is are they buying from you?

In markets where demand is down and supply is up, sellers need to concentrate on things they may not have had to worry about in robust conditions. To begin with, they must ensure their selling skills are the best they have ever been! There is no margin for error. You must know how to sell value and solutions. That means successfully employing consultative sales skills.

Next, your prospecting activities must be in high gear. You can’t wait for the phone to ring. With demand down, prospects that are buying don’t need to call you because your competitors are already beating down their doors. Timing is everything in sales. Ratchet up your prospecting activities to ensure you are at the right place at the right time.

While you are looking for new business, don’t forget your existing customers. More than ever you need to take care of them so they don’t disappear. You can’t afford to lose business. By the way, existing customers are also a great place to look for additional business. You already have invested in the relationship. Why not leverage it for additional revenues.
When it comes to closing the sale, you must maintain a full funnel of activity to avoid being desperate and forced to discount unnecessarily. Desperate people are not in any condition to negotiate effectively. You must increase the number of deals you are working on as your closing ratio may drop because of less opportunities out there. Closing ratio’s tend to drop with reduced demand and increased competition.

Last, but certainly not least, make sure you approach every day with a Titan attitude no matter how tough things look. In every problem lies opportunity. Are you looking for the opportunity or succumbing to the problem? The choice is yours!

This Memorial Day Weekend, I had the pleasure of attending the Bar Mitzvah of a very special young man, Joshua Feldman. Joshua is special because at the ripe old age of 13, he gave a speech that literally left everyone stunned—a speech that moved the entire congregation and left all of the adults with a powerful message. In describing his experience of studying for this important day, Joshua discussed how everyone looks at the Bar Mitzvah experience differently.

The powerful example he used to illustrate is point was three people ordering a corned beef sandwich at a deli. The first person was a successful business executive who stopped by the deli and ordered the sandwich as a means to a quick lunch as she prepared to drive out to the Hamptons.

The second person decided to change his routine and went from his usual pastrami to something new, the corned beef sandwich. The third person was homeless and was given $10 to go out and buy himself a good meal. Three people ordering the same kind of sandwich, but all for very different reasons.

This example hit me between the eyes because it really tells the story of a titan salesperson, selling the same product or service to three different people who buy it for their own reasons. Yet, the problem salespeople run into is they concentrate on selling their products based on the reason they feel the customer would want it.

Joshua has taught us that it is in our best interests to first find out the customer’s reasons for possibly wanting our products and services, and then presenting our solution as it addresses those specific reasons. After all, everyone buys for their own reasons. So, take a hint from a very wise 13 year-old and concentrate on addressing your customers reasons for buying your products versus your own.

Switching channels on my tv, I came across the movie First Knight, starring Richard Gere as Sir Lancelot. In one scene, Lancelot was challenging anyone in the town square to take him on in a fencing match. A very big and strong man steps forward. A few seconds after the match starts, the two lock swords and Lancelot says “be ready to lose your sword.” A moment later, the opponent loses his sword and the contest was over. After the match, the opponent asks Lancelot how he did that? “I want to learn from you”, he said. Lancelot replied there are three things you need to win:

1) Always be a step ahead of your opponent and know their next move.

2) Know when to seize the moment that will determine whether you win or lose.

3) Be willing to live or die.

Now, the 3rd point of be willing to live or die may be a little harsh for sales, but here is how I translate these three points. To be successful in negotiations, you must

1) Know the person you are negotiating with well enough to anticipate their next move. This includes how they operate, their behavioral styles and values, the issues that are critical to them and the consequences they are facing if the deal is not done.

2) Know how to identify the moment in the negotiation when the deal is ready to be consummated. Timing is everything in life. You must be able to read the buying signs and know when the time is right to close the deal.

3) Be willing to lose the deal if the terms are not acceptable to you. You must be able to walk away from the deal. This is hard to do if your pipeline is not full or you are in desperate need for the business. When you are in this situation, you are already negotiating from a position of weakness.

Improve your negotiation skills today and take a lesson from Lancelot. After all, you don’t want to lose your sword in a key negotiation.

Recently we solidified a new contract with a client whom I started talking to in 1996. Prior to the agreement, there were 62 points of contact with this client. Over the course of 5 years, 62 points of contact did require a moderate use of my time, even though many of these contacts were voice mail messages, e-mails, etc. By the way, can you imagine what would have happened if I had given up after the first couple of no’s? Nothing! As in no business! But that’s another topic for another e-report.

The time it took to secure this client will obviously pay off from the revenue received for services provided. However, if I do not at some point seek referrals from this client, then my ROI will have been drastically minimized.

There are two basic areas you should be looking at for referrals from existing customers: Uncovering new opportunities in existing accounts and gaining entry to new accounts. Many times, the only thing you have to do is just ask for the referral. People who find value in your service and products will offer new points of contact if you would only ask. Many times people don’t offer to do this on their own, but they do cooperate if they are asked.

Most of the time, when people are happy with a service and product, they like to brag about what they are doing. Furthermore, they may not realize they have certain contacts that can be of value to you.

An example is a recent visit to a client who has done business with me for 9 years. During this visit, we were at an event where he introduced me to a friend of his, a community leader, business owner and student of the sales process. Now that sounded like a lead to me. When I suggested that maybe we can arrange for a proper introduction, the client was delighted to help. Yet in the nine years prior to this event, he did not realize the potential value of this lead.

The fact of the matter is people in general are pre-occupied with their own issues. Don’t put your destiny in their hands believing they are always thinking of how they can help you grow your business. That is your responsibility! The good news is if you ask, and they like you and your products, most of the time they will be more than happy to help. But you have got to ask. If you don’t, you have limited the return of investment you can expect from the relationship.

Who says you can’t make money attending cocktail parties? Just ask Debbie Rearley, a Titan sales executive for the Crowne Plaza Times Square Manhatttan hotel. A few months ago, Debbie met an executive of a major retailer at a cocktail party. In their conversation, the retailer talked about the need for space to interview associates they were looking to hire for their new location.

After finding out the critical needs, Debbie then passed the ball to Sales Manager Alyson Schutzbank who took the lead and closed the deal. A deal in which space was booked for over a period of 3.5 months and generated revenues in excess of $500,000!

You don’t need to wait for a cocktail party for this to happen to you. Networking has been one of the oldest tools used in the history of mankind to generate business. There are two common types of networking situations you will find yourself: Event Networking and Referral Networking. This month, we will provide tips on Event Networking. Next month we will deal with Referral Networking.

Event Networking occurs anywhere anytime. You don’t need an established event to network. Anywhere you go, there are hundreds if not thousands of people you will meet who can become your next customer. The question is are you always on the lookout for new opportunities or do you let these opportunities pass you by?

4 Tips For Successful Networking:

1) Show You Are Interested in Them- The best way to show your interest in others is to ask them what they do, how’s it going and what challenges they face.

2) Lead With Your Resource Proclamation- When describing what you do, concentrate on the outcomes (benefits) people receive from working with you versus the services (features) you offer. In Debbie’s case, she wasn’t selling space, she was selling a solution for interviewing candidates.

3) Take Responsibility for the Follow-up- Tom Winninger, a colleague and friend, once told me he never carries business cards. When I asked why not, he said never put the responsibility for follow-up on the prospect’s shoulders. They usually lose the cards and many times they won’t pro-actively call. What he recommends, and I have been doing ever since, is simply ask the prospect for their card and tell them you will follow-up.

4) Carpe Diem- Seize the Moment- Networking is not rocket science. All that’s required to succeed in networking is taking advantage of opportunities, and to know that everyone you talk to is a potential opportunity. Maybe they can use your service, maybe they recommend you. Either way, they can help grow your business.

Trouble is most people don’t take advantage of all the opportunities in front of them. Titans do! Debbie Rearley and Alyson Schutzbank are valid examples of what networking can bring you, eve at social events. Cocktails anyone?

Recently I stopped into a cellular store to inquire into a new hands free-system for the car. The salesperson is paid on commission. After checking to see if the item is in stock, the salesperson informed me it wasn’t and suggested I call back in a few days to see if it is in.

Do you really think I am going to take the responsibility and time to call her back? As a customer, it is easier to go into another store, get the item and be done with it. If the salesperson in the first store really wanted the commission, why didn’t she take it upon herself to call me when the item comes in and close the deal?

Here’s another one. I recently visited 5 luxury car dealers. Why hasn’t one salesperson (they all took my phone number) called me back to follow-up and try to gain my business?

Come on people! The market for most industries is not as robust as it was a few months ago. You already invested your time in the initial visit. Don’t you want to try and capitalize on your investment with a sale?

Don’t give away control of your destiny. Take the responsibility and follow-up with your customers and prospects. For current customers, it’s crucial to insure retention of their business and selling add-on products and services. For prospects, it’s crucial just to get the relationship going.

THE BOTTOM LINE
You want the business? Go Get it! Don’t wait for your customers to come to you. Otherwise, your competition and/or the Internet will serve them just fine!

Buzz Marketing is the latest fad being talked about. The idea is to use a handful of carefully chosen trendsetters in a community to act as “influencers”. For instance, you can call up your friends or associates and act as an influencer regarding a product or service you highly recommend. If the pitch is done right, the expectation is the message will spread spontaneously like a virus. Face-to-face Buzz Marketing is the same thing except it is done in person. People learning about products and services from their ‘coolest friends’.

Companies are spending lots of money on this new marketing fad, which was featured in a recent issue of Business Week. What was not mentioned is that this concept is not new to sales people. We call it Referral Selling. There is nothing more powerful than having a customer recommend you and your products and services enthusiastically to peers and associates. This act automatically transforms a conversation from being a cold call (a pain in the neck interruption) to a warm conversation. You have the introduction, now it is up to you to convert the sale.

The problem is many salespeople do not effectively harness the power of Referral Selling and many times miss out on opportunities. Salespeople erroneously think that customers will automatically refer them without being asked. Not so! your customers are busy with their own lives. While they appreciate your services, building your business is not the upper most thought in their mind.

The human being traditionally is not proactive. Walking down the street, how many times do you see people volunteering to hand money over to the homeless. Yet, if a homeless person asks you for money, their chances of getting it are dramatically increased. Expecting customers to voluntarily refer you is likely to lead to missed opportunities. Asking customers to refer you is taking control of your own destiny and making sure you are not leaving any opportunities uncovered.

Of course referrals come in several forms, such as testimonial letters, phone calls, etc. However you use your customers for referrals, remember that you have worked hard to create this success. It costs you less in time, effort, and expenses to sell this way. It is more profitable. What are you waiting for?
THE BOTTOM LINE
Spread the buzz about your products and services by leveraging your sales through referrals. What have you got to lose? Everything!

The two universal laws of sales success are: Sell more to existing customers and keep prospecting for new business at all times. Which of these laws is more critical to your success? Both of them!

It is a fact that it costs you less to sell more to existing customers because you have already invested time and money in developing the relationship. Some estimates say that it costs you up to 40% less to sell add on products and services to existing clientele. If you do not stay on top of your customer’s issues and provide them with up to date solutions, your competitors will be more than happy to do it.

However, if this is all you do, then you are at risk for losing market share. We cannot control the environments of our customers. Sometimes things beyond our circle of influence occur forcing customers to change the way they do business and possibly end their relationship with you or reduce their purchases. When this happens, which account do you have in the pipeline that can immediately jump in and take over?

Penetrating further into existing accounts is crucial to maintain your existing customer base. Prospecting for new business is equally important to insure your business against unforeseen reduced demand and consumption by existing customers. New customers provide the fuel to help grow your overall business.

So, do you have a balanced growth plan for your sales territory? Are you taking care of your existing customers and satisfying all of their needs? Are you also scheduling an appropriate amount of time each week to sock it to the competition by playing in their back yard and giving them a fight for their business? If you answered no to any of these questions, then you probably need to re-evaluate your sales plan. A balanced growth plan increases your odds of success regardless of what the market throws your way.

THE BOTTOM LINE
Your best prospects are your competitors best customers and vice versa.