Monday, November 8, 2010

Getting Prospects Reengaged by Eric Slife

You finish your presentation, and your prospect states, “Everything looks great. I’ll call you in a couple of days to move forward.” Several days pass, a week, then a month. They don’t return you calls, and you have no idea why. Sound familiar?


I’m not sure what’s more frustrating; not getting the business, or not knowing why. Here are some easy tips to reconnect with your prospect.



  1. Establish Guidelines – At the very outset, establish guidelines for the relationship you are about to enter.



    Mr. or Miss Prospect, thanks for agreeing to meet with me today. I have some questions I’d like to ask you today, and I’m sure you probably have some questions you want to ask me. Before we get started, I just want you to know, it’s okay to tell me “No.” Sometimes, a client chooses to go a different direction, but they feel uncomfortable telling me. If at any point while working together, you determine my product or service isn’t the right fit, will you please let me know?




  2. Voicemail with Email – I don’t expect people to return my voicemail. However, within my voicemail, I’ll inform them I’m sending an email, because for many busy individuals it’s easier to respond. In my email I will write, Mr. or Miss Prospect, upon our last discussion, you requested I follow up with you at this date and time regarding… I’ve tried several times to call you, but unfortunately, we haven’t been able to connect. I’m beginning to feel like I’m becoming a pest. Please let me if your situation has changed, so I know how and when to best follow up.



    Because many people aren’t comfortable telling you “no” over the phone or in person, this approach gives the prospect a way out of the situation, and you can move on. Often, you find they have been slammed or you get some additional information as to why the delay.




  3. Disengage Caller ID – Call your phone company and ask how to disengage your caller id. This way your prospect can no longer screen your calls.




  4. Did I Do Something Wrong?Mr. or Miss Prospect you asked me to follow up on… I’ve tried to reach out several times, but I never heard back from you. Did I do something that offended or upset you?




  5. Copy Referrer on Email – If you were referred by another individual, copy them on your email. This is especially useful if you were referred by a superior. Don’t throw your contact under the bus, but apply a little pressure.




  6. Discard Proposals – Finally, always be willing to walk away. I want to do business with adults, not children. If someone requests to call them back, but then never returns my calls or email when I’m following their directions, those aren’t the customers I’m looking for.



    However, I’ll provide one final opportunity. Mr. or Miss Prospect, you requested I contact you on… I’ve tried several times, but I never heard back from you. The price (or proposal) was good for 30 days, so unfortunately I have to discard your file.



    Put a time limit on all your proposals. This creates a sense of urgency, and it doesn’t lock you into a price for an extended period of time.


About The Author: Eric Slife is President of Slife Sales Training, Inc. From cold calling to closing, receive ongoing, unlimited access to top sales trainers through our Team Training Program. Our affordable online sales and sales management training program can be customized for both individuals and sales teams.


http://www.salestrainingcentral.com

Tuesday, November 2, 2010

5 Sales Reports That Every Sales Manager Should Be Reviewing

A good manager knows that the sales team can make or break their company. All other departments might be in sync, but without a strong sales staff and sales process, the revenue that pays employee wages can vanish. When it comes to the sales team, special attention must be given to ensure that the company paydays keep coming.


According to Suzanne Paling, sales management consultant and author of The Accidental Sales Manager: A Survival Guide for CEOs (or owners or presidents) Who Find Themselves Managing Salespeople, sales reports can be key in keeping the sales process and the cash flow moving.


“Sales reports enable a manager to track how much time salespeople are spending on different sales activities, if they are meeting their productivity goals, and whether their efforts are translating into real sales,” explains Paling. “In other words, the sales reports paint a picture of the sales representatives’ day even when the manager can’t be there to observe them. The information in these reports plays a critical part in helping a manager oversee the success of the sales team and essentially the whole company.”


For the sake of sales success, Paling encourages sales managers to incorporate these basic reports into their sales process:


The Daily Call Report

Knowing how many calls your sales representatives make during a given day, as well as whom they are calling, is essential for those managing salespeople. Accounts are not all created equal. Some need to be called on more frequently than others. After establishing the call frequency for all of the salespeople’s accounts, the data from this report confirms whether they are adhering to the schedule.


Paling suggests looking for the following when reviewing this report: 


• Number of calls made in a row

• Specific types of calls

• Absence of certain types of calls

• Excessive numbers of certain types of calls

• Average length of call time


 The Productivity Report

Those managing salespeople need a reasonably accurate summary of how many and which type of calls they make. The data often includes the number of outbound calls, conversations, voice mails, e-mails, customer meetings, product demonstrations, and proposals generated in a given day, week, or month. The purpose of this report is to compare actual results against the benchmarks established for each activity.


Paling notes, “Whether a sales staff exceeds or fails to meet the established productivity standards, the productivity report keeps the manager informed. When a salesperson or sales staff does struggle, looking at the raw numbers can offer insight into the problem.”


When reviewing this report, Paling advises managers to ask:


• At which point in the sales cycle is the rep below/above productivity quota?

• In which areas is the rep consistently behind/ahead?

• Where the rep is below/above the productivity quota, how does it affect the next phase of the sales cycle?


The Pipeline

The pipeline report consists of all those prospects being actively pursued by a sales representative and separates them by their appropriate phase in the sales cycle. This information allows managers to keep track of the total number of prospects the salesperson is working with at any given point. Managers can tell how quickly a prospect progresses from one stage to the next or be aware when a prospect drops out altogether.


Paling offers these as examples of typical pipeline phases:

• Phase I—Decision-maker expresses interest in product or service

• Phase II—Salesperson meets with decision maker

• Phase III—Decision-maker participates in product demonstration

• Phase IV—Proposal submitted

• Phase V—Sale closed/sale lost


“It helps if the sales manager and the sales reps agree on the pipeline phases,” says Paling. “Naming the phases adds consistency and contributes to the development of a sales culture.”


The Sales Forecast

The single most important document generated in most sales organizations, a sales forecast has multiple purposes including:


• Holding salespeople accountable for the deals they intend to close at the end of each month

• Determining which opportunities need executive attention

• Helping to estimate revenue

• Paving the way for post-sale product or service delivery


The accuracy of this report strongly affects the entire organization. Unfortunately, many people confuse the pipeline report with the sales forecast.


The pipeline report and the sales forecast both show prospects at different phases of the sales process. The difference lies in the fact that the sales forecast shows only those prospects in the final stages of purchasing the product or service.


“The potential sales shown on the sales forecast might be a cause for celebration or function as a shrill alarm,” explains Paling. “The accuracy of the information provided determines sales revenue for the month or quarter. Failure to bring in enough sales revenue over a period of time leads to staff reductions, cash flow issues, and most drastically—companies going out of business.”


When looking at the sales forecast, ask:

• In which months (1, 2, or 3) is the rep typically above or below quota?

• Does revenue usually drop in any one month in particular?

• How many accounts drop out/get added from one month to the next?

• Does the rep have an easier/more difficult time achieving quota in one product line vs. another?


The Long-Range Sales Forecast

Often overlooked, long-range forecasts have a place in the portfolio of reports for those managing salespeople. Prospects in this report have told the sales representative that they are budgeted for and are committed to purchasing a product or service at some point in the future. The reason for the delayed purchase usually involves an expiring contract or a large capital expenditure that needs to go through a formal budgeting or bid process.


Typically, the long-range forecast keeps track of prospects planning to buy anywhere from four months to two years from the time of the initial contact with the sales representative.


Many of these long-range sales involve RFPs, intense competition, or the possible replacement of the prospect’s current provider. Sales like these usually require executive involvement at some point. This report helps management prepare accordingly.


Suzanne Paling, author of The Accidental Sales Manager (Entrepreneur Press),is the principal consultant of Sales Management Services, founded in 1998. She has more than 20 years of experience in sales, sales management, and sales consulting. Working with both field and inside sales organizations, she has helped clients in a vast number of industries including software, construction, medical, telecommunications, manufacturing, delivery, and recruiting.


The Accidental Sales Manager was named an award-winning finalist in the Business: Leadership and Management category of their “Best Books 2010” Awards, sponsored by USA Book News  The book is available on Amazon.com, Barnesandnoble.com and Borders.com; for more information on this title visit www.accidentalsalesmanager.com For more information on Suzanne Paling visit www.salesmanagementservices.com.

Monday, November 1, 2010

If You Ever Lack Focus, This Might Help by Art Sobczak

Greetings!


A very brief tip this week as I return from
several days of travel, and back out again.



Early this week I met with a group of other
speaking and training professionals. We have
been meeting several times per year, for 13
years now. It's a mastermind group (if you're
not familiar with this term, I suggest
researching it and perhaps finding or starting
one, as it will likely change your life, and
income) called Master Speakers International http://www.businessbyphone.com/msi.htm



Usually at our meetings everyone shares ideas
about what's working for them in their business,
marketing, sales, operations, technology,
latest must-read books, etc. At the meeting
earlier this week, one of our members, Mark
LeBlanc, http://www.markleblanc.com/, a small
business success expert, conducted the entire
program. Although I took pages of notes, just
a few key points will put a lot of money in my
pocket, and might for you as well.



In my case, I wear so many hats, perform so many
roles, and get torn in so many directions I
often feel like I'm running in place, and in
circles. Mix in my self-diagnosed Attention
Deficit Disorder, and that's a recipe for
reaching the end of some of the rare days that
I'm in my office, where, although there might
have been a whirlwind of activity, I just say to
myself, "What did you REALLY get done?"



Perhaps you have been there. Or are there.



I won't go through Mark's entire system, but will
share a key piece, what you can do as a sales
person that might help you sharpen your focus
(if you need it) and reach new levels.



1. Set your Optimistic Number for the month. Thisis the sales number you optimistically would like
to reach every month. Stretch a little, but make
it realistic. You probably have this now as a quota
or goal.



2. At the beginning of each day, ask yourself,"What am I doing today to book my Optimistic
Number?"



3. At the end of each day, ask, "What did I DO
today to book my Optimistic Number?"



4. Build your day around at least three High Value
Activities that are focused on reaching your optimistic
number. This might seem simplistic to some people, but when
we really analyze our activities, not everything we
do every day contributes to actually reaching our
numbers. You determine what yours are. You might realize
that sending emails, Tweeting, going on Facebook, etc.
is not directly contributing to reaching your
number.



5. Every DAY, update your scorecard that shows your
results towards your Optimistic Number.



Fairly simple process. What struck me is that it
provides the framework for focus, accountability,
and self-motivation.


Adapt this as you see it applying to you. And especially
if you are a small business professional, check out
Mark's site and resources http://www.markleblanc.com/


Continue having your best week ever!


Art


About the author:

Art Sobczak, President of
Business By Phone Inc., specializes in one area only: working
with business-to-business salespeople--both inside and outside--designing
and delivering content-rich programs that participants begin
showing results from the very next time they get on the phone.
Audiences love his "down-to-earth,"entertaining style,
and low-pressure, easy-to-use, customer oriented ideas and techniques.
He works with thousands of sales reps each year helping them
get more businesses by phone. Art provides real world, how-to
ideas and techniques that help salespeople use the phone more
effectively to prospect, sell, and service, without morale-killing
"rejection." Using the phone in sales is only difficult for people who use
outdated, salesy, manipulative tactics, or for those who aren't
quite sure what to do, or aren't confident in their abilities.
Art's audiences always comment how he simplifies the telesales
process, making it easily adaptable for anyone with the right
attitude.




Contact Info

Art Sobczak

Business By Phone Inc.

13254 Stevens St.

Omaha, NE, 68137

402-895-9399

ArtS@BusinessByPhone.com


www.businessbyphone.com