Sales Chump

Wikipedia defines competitive advantage as a position a firm occupies against its competitors.  This means something your company has that others don’t.  This can be the lowest price, the best materials, the best service, the highest quality manufacturing, etc.

I can’t stress the importance of using you or your companies competitive advantage(s) in your favor.  You should be well aware of all the competitive advantages you have over your competition.  This is something that no one else but you (or your company) can claim to have.  Why shouldn’t you remind your prospects and customers of this?

I recommend writing them all down so you can easily reference them.  I also like to write a “what this means to you” after the competitive advantage so it can be quickly used in a conversation when the opportunity arises.

For example:  Long term fixed rates for a product.  What this means to you: “Because we offer long term fixed rates you are able to take advantage of a low price and protect yourself and your company for 5 years without any fluctuation in price.”

If you have no competitive advantages or the most in a marketplace, you can always add one more:  YOU.  You should be the number one competitive advantages you can offer to your prospects or customers.  You should not be like your competition; you should go above and beyond the customers expectations and offer a relationship that sets yourself apart from the rest.

At first glance this question seems kind of silly.  But really think about this.  How many times do you get a return call from a voice mail you leave?  What percentage are you getting?  Do you find most times you have to call and catch the prospect next time on the phone?

Chances are if you’re being honest, your % of returned calls from voice mails are low.  If they’re not, then this isn’t necessarily for you and you should share your tips.  When I first started in sales, my ratio of returned calls from voice mails or messages left with the gatekeeper or assistant was probably 1 out of 25.  I thought it should be higher so I listened to old calls (luckily my company records calls).

I listened to them as if I was the prospect.  Few things I found:

1. My messages were rather long and I found myself fast forwarding (which means they were probably deleted)
2. My messages were vague or gave too much info
3. My messages weren’t personal enough

I saw most of my messages were around 45 to 90 seconds which is long for a voice mail.  When talking live with a prospect you don’t have that long to talk to gain interest.  A message is even harder because they can delete it without feeling like they’re being rude.  If I wouldn’t even listen to the full messages, why should I expect someone else too?  Most of you are saying “duh” right now but this was when I was brand new.  I found 30 seconds is the max time you want to have.

I also saw I was inconsistent with my message.  I was either very vague and didn’t give enough info to get the person interested enough to call me back or I gave too much info where they didn’t need to call me back.  You want to find a balance that gives them just enough info to get them interested but not your whole pitch to where they feel calling would serve no benefit.  Also giving too much info without knowing your prospects needs can be harmful.

My early messages were also very impersonal.  It sounded like I left the same message 100’s times before and that I didn’t expect a response.  This seems crazy but if your message portrays that people would be missing out if they didn’t call you and that you have gotten responses before, they are more likely to call you back.  There’s a subconcious tone that you give that people pick up on.  If you walked around with a dollar bill in your hand with your head down mumbling asking if someone wanted a dollar you would be surprised at how many people wouldn’t accept it.

You want to make sure you mention your name, company, what it is you want to speak about and a number.  Make sure you describe a little about your services or products and give a benefit that speaking with you would give their company.  Otherwise if they don’t see why talking with you would help them, they won’t call you.  Using that format has moved my return calls into a 1 out of 4 or 5 range.  If you have their email, it’s always nice to mention you’ll follow up with an email as well.  Decision makers a lot of times find responding via email is easier as it doesn’t make them threatened or in a defensive mode as they can reply when they have time and they feel they can share true feelings rather than give false positives.

What if I’ve left several messages already?  This can be tricky but I’ve found showing a little frustration in your tone on your next voice mail while still being professional and respectful gets results.  You don’t want to do this on the first few because it will come off rude.  But if you’ve left 4 or 5 messages over a few months with no response it can be very effective if done right.  I like to use something like this:

Hi Mr Smith.  This is John Williams with ABC.  I’ve left you a few messages in the past and wanted to speak with you briefly.  I realize you’re busy and that this might not be a priority or it doesn’t make sense to talk right now but if you could find a minute to give me a call to tell me when it would make sense to speak about this, we can discuss further at that time.

What that message does is it shows that you care about their schedule and acknowledge you might not be calling at the right time.  But it also shows you are busy as well and that your time is valuable too.  This message has had over a 50% return for me when it gets to this point.

Hope those tips help you improve your return call rate.  Please feel free to chime in if you have a method that works well.

This article comes from our good friend Jeb Blount of Sales Gravy:

Look around you. It’s as if everything, along with the economy is just creeping along. This is a far different pace than in the boom years that preceded the recession. Some of this is understandable. When we are afraid, we want to take our time so that we make no mistakes. After we’ve been burned we move forward tentatively. We become more deliberate. We slow down. But is this the right course of action?

 

I have a friend who works as a sales director for a division of a large company. We like to get together from time to time and share war stories. In a recent conversation he told me about a paradox that was impacting the ability of his team to sell. He said that because of the recession his company was being more cautious about brining on new customers. They had installed a new layer of approvals and it was taking twice as long as it had in the past to get new contracts approved. But at the same time he said he was getting tremendous pressure to sell more business because his organization desperately needed top line revenue. He threw his hands up, “What the hell do they want me to do Jeb? My salespeople are frustrated, our new clients are questioning our integrity, and though I know it is not intentional, the entire sales process is grinding to a halt.”

Unfortunately, this is not that unusual. During recessions we have the tendency to slow down. And slowing down is not just isolated to businesses – we do the same thing in our personal lives. Look around you. It’s as if everything, along with the economy is moving in slow motion. This is a far different pace than in the boom years that preceded this crisis. Some of this is understandable. When we are afraid, we want to take our time so that we make no mistakes. After we’ve been burned we move forward tentatively. We become more deliberate. We slow down.

But there is good news for the individuals and businesses that rise above this paradigm. These are the people who will not allow fear to cloud their vision. With clarity, they can see opportunity where others cannot. And instead of slowing down they speed up.

Think about it like this. If you were driving a car on an interstate going 70 miles an hour and there was another car going 60 miles an hour one mile ahead of you, how long would it take you to overtake and pass that car? I won’t bore you with a high school word problem suffice to say it would take miles of driving to eventually catch up. This is what business is like in a normal economy. It takes much more time, effort and money to catch your competitors. However, what if you were in the same car going 70 miles an hour and one mile ahead of you there was a car parked on the side of the road stationary. How long would it take to pass that car? What if you were moving even faster?

This is the argument for accelerating during a recession. Businesses and people everywhere have pulled over to the side of the road and parked, hoping to ride out the recession in safety. Others like my friend’s company are creeping along in the slow lane. So right now, there is amazing opportunity to put the pedal to the metal and pass them while they are all standing still. Right now, speed is your greatest competitive advantage.

Now is the time to aggressively attack the market, adopt new technologies that improve productivity, introduce new products and services, and become more efficient. Now is the time to hit your competitors harder, invest in your brand, set new goals and create a new vision for yourself. To prosper during the recession, urgency is mandatory. Sooner or later, the recession will end and when that happens speed will give you a huge head start over your competitors who have been sitting on the side of the road.

Urgency and acceleration are about mindset. In many ways just a simple belief system that gives you the strength to trust in yourself and your talent. Acceleration in a down economy is about getting out of your comfort zone and letting go of the status quo. It is about accepting that things have changed, letting the past go, and then building a new future. I’m not saying this is easy because it is human nature to default to our comfort zones. But it is necessary if you want to thrive during the recession. Take time to set new goals. Get clear on what you want. Open yourself up to new possibilities. And then take decisive action to move forward one step at a time.

There is opportunity everywhere. And opportunity has always been here – it didn’t just get up and leave because the economy went sour. It is just different opportunity. But you can only see this opportunity when you look forward instead of backward. You can only exploit it when you replace fear with trust in the fundamentals of sales and business. And when you accelerate, moving faster, driven by urgency, always looking forward, I guarantee that you will be unstoppable.

Jeb is also the writer of the Sales Quick and Dirty Tips.

What do you do when the sale comes down to price? First, you should probably ask yourself, “How did I let it come to price?”

In basic economics class, we learn the sprit of capitalism. Charge what the market will bear. This means that if find a diamond on the ground and pick it up, that I shouldn’t simply sell it for $1.00 just because it was free to me. The object has value and it is entirely fair and ethical for me to charge what the market “buyers” will pay me for it. Even, if that means selling it for thousands of dollars!

Before going into your presentation and talking 80% of the time, ask them lots of questions first. You want to know what their situation is, how long it’s been that way and what they want to accomplish with you or any other vendor. Is your product or service a part of a larger strategy that you may possible to offer something entirely different?

By uncovering the needs of the prospect, you are creating value. This accomplishes two major wins in your direction. 1, the customer is thinking about their situation being better with your product or service and 2, they are beginning to believe that you are sincere in helping them look good to their superiors. Even top executives have to answer to someone (i.e.: shareholders) and everyone wants to look good to those they answer to.

When you are asked, “How much is it?” or “What’s your price?” you should confidently tell the prospect the amount. Do not hesitate, obviously the prospect will sense your uncertainty and will lose confidence with you and worst of all, your offer. Customers buy from people they trust and like. Even in a bid situation, the customer will feel better about paying a higher price, if they believe in you. Sell value, not price.

This poem is from Jill Konrath’s Selling to Big Companies:

       The Buyer’s Lament

Don’t waste my time, please go away.
I will not talk with you today.
You call me up, you want to sell.
But all you do is tell, tell, tell.

I do not want to hear your spiel.
I will not play let’s make a deal.
So listen up, take my advice.
Discover how you can entice.

If you aspire to earn my trust,
Research is an absolute must.
Know my goals, the issues I face.
Use this to build your business case.

What have you done for firms like mine?
How have you helped their bottom line?
Can you cut my costs or help me grow?
Now that’s the info I want to know.

If you can help me solve my plight,
I’m wide open to fresh insight.
I need to find new perspectives
So I can reach my objectives.

Want me to remember your name?
Launch an account entry campaign.
Ten contacts is what it may take,
When there’s so much business at stake.

Just think of this next time you phone
And you’ll get past my no-entry zone,
Once you get your foot in the door,
I guarantee you’ll sell lots more!