Jill Konrath | Selling to Big Companies

Preventing SADD: Sales Attention Deficit Disorder

Today's blog post was written by business development expert Colleen Stanley, President of Sales Leadership, Inc.

Corporate America is losing thousands of sales dollars to SADD - Sales Attention Deficit Disorder.  Salespeople pride themselves on their ability to multi-task, however, don't realize they are multi-tasking themselves right out of relationships and sales. 

Here are a few tips for decreasing SADD and increasing revenues:

1. Turn off your Blackberry.

No, you don't need reading glasses. You read the statement correctly. Turn off the electronics. An old adage in sales says, “People buy from people they like.” And guess what? People like people that pay attention and make them feel important. 

When people feel important they say things like, “I felt like I was the only person in the room,”  “He made me feel so important,” or “She was listening to every word.”

Salespeople are starting to remind me of dogs on shock collars. The minute the PDA rings or vibrates, they feel compelled to answer or check it, regardless of what they're doing or who they're with. For example, a salesperson is calling on a prospect. The salesperson is doing a very good job of building rapport. The prospect is feeling comfortable and thinking that the salesperson really does care about his/her problem. 

Until the salesperson's cell phone vibrates. The salesperson looks down to check who is calling him and rapport is broken because the prospect receives the real message: I am important, but not more important than an incoming call.

A colleague shares a story of a breakfast meeting with a possible referral partner. They were ten minutes into breakfast when the possible referral partner took a phone call. This was not an emergency call, just a phone call. 

As my colleague sipped her coffee (alone), she made a mental note to put this possible referral candidate in the “just doesn't get it” category. My colleague scheduled an hour out of her busy day to meet this person and expected full attention during that hour. The phone-addicted salesperson lost an important opportunity to build a relationship.

The Executive Conversation

Talking to senior level corporate decision makers is a challenge for many sellers. What do you say? What's of interest to them? What works and what doesn't work.

That's why I thought you'd be interested in my interview with Eric Beckman, EVP of Marketing and Strategy at Executive Conversation, Inc. He's helped 12 of the Fortune 100 and scores of mid-sized firms sell what clients want to buy.

During today's economic crises, what's of most interest to executives? How has it changed?

Amid the economic uncertainty, the way customers now evaluate investments has fundamentally changed. Smart sales professionals indeed should be asking themselves 'How have I changed my selling motion in response?

Some changes are obvious, such as CFOs requiring a lower sign-off threshold.  However, the not so obvious changes harbor the most profound implications to sellers. 

Foremost, the shift toward risk mitigation and cost reduction relative to maximizing return and growing revenue which are commonly favored in healthier markets.

Customers now weight short-term results over long-term strategy, demanding much quicker paybacks in the process.  Vendor financing and leasing options that address cash flow challenges are entering the decision process much earlier. 

We're also seeing heightened interest in shared risk partnerships and reducing the number of vendors to a trusted few to help manage risk.

Today, to prepare for credible executive conversation, we suggest sales professionals enter executive calls prepared to answer these 3 questions: 1) What's my ROI?  2) How is Cash Flow impacted?  3) How are you minimizing my risk?

How do executives decide which sales professionals they meet with or sponsor?

For Sellers, Knowing the 'Price of Admission" is Invaluable

Check out my recent interview with ZoomInfo.

Sales expert Jill Konrath doesn’t mince words. Asked if sales executives will be over a barrel the next 18 months because of the economic downturn and a lack of consensus on when things are going to turn around, Konrath said: “They’re over a barrel for the rest of their lives.”     

Konrath is a best-selling author and the chief sales officer of Selling to Big Companies. Konrath, whose clients include Hilton Hotels, IBM Corp. and General Electric, said that profound changes in buyer dynamics over the last few years have irrevocably altered the sales process (regardless of the ebb and flow of the larger economy) and put salespeople in a tougher position.

“It’s difficult to get into the door, there are more influencers to consider and second meetings are dramatically falling,” Konrath said, pointing to a 2009 study by CSO Insights showing that 53% of sales organizations reported a conversion rate of less than 50% from first meetings to second meetings; that figure has jumped 25% since 2005.

“It’s not a blip on the screen,” Konrath said, referring to dramatic changes in how buyers approach sellers. “This is a shift to a new way of selling and the economic situation has accelerated the shift.”

ZoomInfo: Why are sellers having such difficulties cracking into corporate accounts today?

Konrath: There are multiple reasons. The first is that corporations are running so lean and mean and the fact that each decision maker in an organization has way too much work to do and not enough time to get it done – and fewer resources. So, people who try and set up an appointment are competing with every other use of their time to get their attention.

Click here to read more.

10 Commandments of Effective Email

Today's article was written by organization expert Audrey Thomas, CPO® and President of Lean Offices.

In the United States, more than $650 billion a year is lost in productivity because of unnecessary interruptions-predominantly mundane matters-according to research firm Basex. A big chunk of that cost comes from the time it takes people to recover from an interruption and get back to work.

Ever wonder how interruptions affect your sales goals? In working with sales people, I find that email is one of the biggest offenders when it comes to office interruptions.

To prevent email from interrupting your focus…and future sales…here are 10 tips to help you maximize this all-important tool.

1.  Avoid checking your email the first hour of the day.
Don't even turn it on.  Instead, work on another project that requires your energy, focus and attention. I call this the Power Hour. One sales person I worked with discovered that he could reach more prospects via phone from 8-9 a.m. because people were not yet in meetings.

By avoiding “email engagement” the first hour of your day you'll be able to focus on important tasks without your mind wandering towards the email inbox.

2.  Address one subject per email.
People tend to file emails or refer back to them based on the subject in the body of the email. Once you change a subject on a strand of emails, it gets confusing and hard to recall.

3.  Create specific and descriptive subject lines.
This will help others recall your emails easily and respond more quickly.  A subject line such as “Monday Sales Meeting” can be improved by changing it to read “Agenda for 9-21-09 Sales Meeting”. 

Some email programs such as Microsoft Outlook allow you to manually change the Subject Lines of received emails.  This works great when you want to include information in a subject line for your own reference later.

Appointment Setting at the C/VP Level

By Mike Damphousse

One of the biggest challenges that sellers face is how to get the time of a C-Level prospect inside big companies - how to set an appointment with that VP or CxO that we know is the perfect prospect. 

There are typically four channels available to achieve this:

• Sales rep can set meetings on their own
• Sales rep can use network contacts to open the door for them
• Sales rep can have an inside sales team set meetings
• Sales rep can have an appointment setting firm set meetings

All four methods work. It really depends on how the rep's company has setup their demand gen programs and how the rep wants to operate. Inside sales departments and appointment setting vendors specialize in providing the lead generation activity and the appointment setting expertise to identify, qualify and secure the meetings. 

But what if the seller has to or wants to do the work on his own.
Here are a few tips from the experts:

• Work from a good list, and as soon as you get a direct dial or email address, don't ever lose it.

• Persist. Dial whenever you have 5 minutes. Dial your hottest list of prospects--add the numbers to your speed dial. They eventually pick up.

• Work with admins. Most execs still use them and contrary to popular belief, they are NOT gatekeepers unless you put them in that role.

• Don't over-sell on the first phone call or email. If you get that short opportunity to communicate with the prospect, your only goal should be to get a meeting.

• At first, try not to let them push you off with a request to send information, or a referral to another colleague. These are just natural instincts to brush you off. If you can't recover though, sending info or delegating the meeting is acceptable.

• Bring value to the call. You only have a few minutes. Be respectful of their time.  hare your value, then ask one or two questions, and make sure they lead to your goal

Here's a dialog example that should clarify the above points.

State your purpose, "I'm calling to see if we might get together to talk about..."  Then state your benefit in a simple statement, "the ROI my company has been bringing to companies like yours." Ask a leading question, "What is your company doing in this area right now?" Listen.  Then ask for the meeting, "...interesting. I really believe a conversation could be valuable, especially given what you just told me. Are you available in the next couple days for a formal call?"

Don't get dragged into a rat hole If the prospect pushes you for a pitch, or asks a question that is more than a couple minute phone call can handle, reply with:

"That's a good question, and yes we do (fill in the short answer), but to really address that topic it would take more than the few minutes you have here and I want to be respectful of your time.  Would you be available in the next week or two for a short meeting?"

In Summary:  Hello. Short pitch with value. Ask a leading questions. Ask for the meeting. Repeat. Good luck!

MIKE DAMPHOUSSE is the consummate sales and marketing executive, leading the growth of Green Leads while sharing b2b demand generation knowledge with others on his Smashmouth Marketing blog and through speaking.  After serving as CMO at two software companies, Mike created Green Leads to leverage technology, the human asset, and today’s ever changing trends. 

Mike has developed a new brand of marketing that delivers ROI in this 2.0 world.  Green Leads serves companies of all sizes, from 30 person startups to billion dollar software giants.  Mike’s blog, Smashmouth Marketing is widely read amongst b2b marketing professionals.

Confession Session: What Type of Baggage are Your Prospects Carrying?

A True Story from Dan Seidman

Yesterday I was with a financial services client. Partway through the morning's sales training, I do a "confession session" where reps share their most embarrassing moment.

It's a very funny time. This slide is up on the screen -->

During the break a woman walks up: "I'm very offended by that image."

"You are?" People start to gather when they hear the energy in her comment.

"Yes, it is very obvious that the man is looking up her skirt."

Silence as everyone around peers at the picture.

A man says, "But he has no eyes!"

She retorts, "He is looking up her skirt and it is very offensive."

I'm shocked and struggle with whether to make a witty comment or a sarcastic one, then resign myself to...

"I'll have to get that guy a male psychologist."

Here's the thought for you selling pros:

What kind of baggage is she bringing into the training?

What kind of baggage do your prospects bring to the selling table?

Everyone has concerns, complicated by biases in their background. Your job is to discover what they are, allay fears and get buyers to say Yes! or No!

How good are your questioning practices? Are they great? If not, why not?

Your ability to uncover the heart and mind of the buyer will help you paint a picture of prosperity for them, as they partner with you.

* * *

DAN SEIDMAN is one of America's top influence coaches. He is the #1 best-selling author of Sales Autopsy, a book of hilarious selling blunders. Dan is a World Master's athlete with two gold medals playing on the U.S. basketball team. His nationally recognized diagnostic tool to analyze existing sales training is being used to improve sales pro performance. Dan's humorous, unique and useful persuasion strategies are in demand as keynotes and training programs at conferences around the world. He can be contacted at [email protected] or 847-359-7860. www.salesautopsy.com

7 Ways to Find Potential Customers on LinkedIn

By Jan Vermeiren
Author of How to REALLY Use LinkedIn

LinkedIn is a very powerful tool which helps us quickly find potential customers and also the people we have in common with them.

However, very few salespeople know the full possibilities that LinkedIn offers. That’s why we present the 7 most important ways to find prospects via LinkedIn in this article.

The prerequisite for the following tips is that you have built the foundation of your network and have defined your target group.

1. Use the Advanced Search option to find the names of the people who are on your prospect list. Look who you know in common and ask your contact to connect you with the prospect.

2. Use the Advanced Search option with parameters you have used to define your target group. Take into account there are several synonyms for the same function. For example: Marketing Director, Marcom Director, Marketing Manager,…  Then look who you know in common and ask your contact to connect you with the prospect.

3. Browse through the Connections of your own contacts and preferably your current customers and also sales people who sell another product or service than yours, but who have the same target group as you (for example people who sell paper when you sell copiers). Why? Because chances that they have potential customers for you in their network are much bigger than with other contacts. If you have found a prospect, ask your contact to connect the two of you.

4. Become member of the Groups your customers, prospects and other sales people are member of. For starters you will find a lot of people in just one place. Secondly you can raise your visibility and reputation by helping people in Discussions. A third benefit is that you will be able to contact other Group members directly, even when you are not connected personally.

5. Create “Alerts.” Alerts are searches you save and which are automatically run by LinkedIn. In this way you are automatically alerted when potential customers have become member of LinkedIn or who, after changing positions in their company, suddenly became member of your target group.

6. Look in Companies and look for Divisions. If the company is already a customer of yours, their Divisions are possible prospects. It surprises me time and again how bad the communication between departments is (in other words: not much Word-of-Mouth advertising). So use LinkedIn to find people in other divisions and then ask for an introduction or referral.

7. Look at Network Updates on a regular basis. For example when someone changes positions or companies. You can then take action to find out whether you can become supplier of the new company and you can ask your contact to introduce you to the person who succeeds them. Another reason why to keep an eye on the Network Updates is that you can see whether one of your competitors links with one of your current customers. This might be an “alert” to call your current customer and find out whether he is still happy with your products or services.

 

JAN VERMEIRAN is the founder of Networking Coach. Following the bestseller success of his first book Let’s Connect! is his second book How to REALLY Use LinkedIn in which he reveals even more about the dynamics of networking and tools that anybody can immediately apply.

Together with his team at Networking Coach, Jan gives presentations and training courses in the field of networking and referrals. Customers are large organisations like Deloitte, Dupont, IBM, ING, SAP, Sun Microsystems and Vlerick Leuven Gent Management School, as well as small companies and freelancers.

Get your free light version of How to REALLY Use LinkedIn at: www.how-to-really-use-linkedin.com