Monday, October 26, 2009

Differentiate, Stand Out and EARN a Higher Price--Part II

Below, please find part II of my last blog. We need to stand out and differentiate ourselves in order to EARN more time and attention from our prospects, customers, and clients and thus EARN more commissions! We started with 7 ideas in the last blog. Here are 8 more ways to get out of your routine and start to create your PPOD (Positive Perception of Difference).

8-Get a coach or a mentor.
This sales game can be tough. Having someone to bounce ideas off and to strategize with will give you a leg up on the competition. Think your good enough to fly solo? Think again! Even Tiger Woods has a coach or two on his team. In this challenging economy, you need someone to re-assess your approach and your skills. Check your ego at the door and get a fresh set of eyes helping you out.

9-Make the CLOSE the natural conclusion to your professional sales process.

Don’t let the “closing” part of your sales cycle be a surprise to your customer. Don’t shy away from it either. Your customer should know that you are there to do business. In order to earn their business, you will have to learn to ask in such a way that it is less painful for both you and the customer. Right now, sit down and write 5 closing questions that transition you from the presentation and negotiation to the action phase of the sales cycle. When you have them written, ask them each aloud 100 times until they become less mysterious and thus, natural. A solid group of rehearsals are necessary for a solid performance! Practice asking for the business and who knows??....perhaps you'll get a chance to perform it more often!

10-Talk Benefits rather than Features.

The customer does not buy quality, service, reliability, innovation, integration, knowledge, experience, teamwork, or the other features that you are tossing out there in an attempt to differentiate your company. They only buy what those things can do for them do what it is that want to accomplish. The sooner you start talking about what they GET rather than what it does, the sooner you begin to earn greater margin. Even better, shut up and listen to them...they'll tell you exactly what it is that they seek. Once they do, help them BUY IT from you!

11-Ask them what will happen if they don’t…..?

Attempt to attach a cost or a price to in-action. When you prospects and customers say they are “staying with the way they currently do things” you need to help them understand that continuing to do what they are currently doing will only get them more of what they are currently getting. If (and this is a big if) you have attached a PAIN to their current situation (from their point of view), then you can attach a FEAR of the future. Your product or service at that point becomes the cure to the PAIN and thus, a peace of mind to the FEAR. There needs to be a bigger perceived risk in NOT taking action than in taking the "leap of faith" with you and your offer. Again, this takes a solid discovery process and a big set of EARS! Listen...then respond.

12-Don’t lie—PERIOD!

The word character is not used enough in professional sales. It needs to be. The world of the Internet has "opened all of our kimonos" so that there are very few secrets anymore. Often your customer will ask a question that they know the answer to just to qualify your character. You must pass the 1st time because you won’t get a second shot. (Remember, they are more aware of their options today) Customers pay more for character and trust—count on it!

13-Quid-Pro-Quo

This Latin term that means “something for something” or “this for that” should be paid close attention to in your dealing with customers. It works both ways. If you are looking for forward movement in the sales cycle or an introduction to others to help you get it, practice quid pro quo from your end first. Give to get! Give a referral, get movement. Give an introduction to a lead; get an introduction further into the customer’s circle of influence. Add value first; get things you value in return. On the flip side we need to understand that when a customer asks us to jump through hoops for them (put together a demo, draw me up an analysis of the benefits, etc.) it is only fair that we now can ask for something in return from them. Example: “We will put together a demonstration of the software, customized to your needs as you requested. If the software performs and meets all of the specifications that we discussed, will you be prepared give us a commitment to move ahead with the purchase that day?”

14-Never make a call without a purpose!

In order to be the most productive with your time and the time of your prospects, customers and clients, have a clear purpose for each of your calls. Don’t visit the customer without the express purpose of bringing something of value to the table or moving the sales cycle forward. Don’t make a call to “just check in” some other nonsense. If you don’t take your call seriously, why should they? By being able to clearly state the purpose of your call and sticking to it, you will become a professional worthy of investing time and money with.

15-Look sharp!

If your product or service is pretty similar to that of your competitions, the little things will often be the deciding factors when deciding who to go with and how much to pay. Don’t underestimate the fact that people initially form a perception about you and your professionalism based upon appearance before you ever get a chance to open your mouth. You want a higher price? Look the part! (Use an iron…it’s becoming a lost art!)

These 15 points are a good start to get you heading towards higher margins and thus, better commissions. You can see that there are no tricks and no shortcuts--and really little rocket science to it. Simply applying more in the areas of focus, self discipline, commitment, and a customer focused approach will change the customer’s perception of value regarding you and thus, your company, product or service.

Of course, you don't have to do any of these things....you could always make a bunch more cold calls! That'll probably work....:)

Monday, October 19, 2009

Differentiate, Stand Out, and EARN Your Price!

What is it that you bring to the table that your competition cannot or will not? What is it that you offer that your prospects, customers, and clients would be willing to stand in line and/or pay a premium to have? What value do you bring to the equation that creates a greater perception of value for your product or service and thus commands a higher price?

Would you buy from you at premium prices? If the answer is yes….and I hope to high heavens that it is….Why?

We are selling in a marketplace today that demands more from sales professionals. Communication tools such as cell phones, email, texting, Tweeting and other forms of Social Media are creating a level of expectation and feedback from our customers that is getting harder and harder to meet. The internet is leveling the playing field as far as access to information. (Everyone can Google you and your competition before you walk in the door.) The result? Buyers that have a higher degree of sophistication (or at least a higher level of belief of their sophistication) than ever before. It used to be said that, “Where there is mystery there is margin!” Well now, the internet has removed much of the mystery about you, your company, your products & services, and your pricing.

If we keep selling into the marketplace the same way that we have in the past, we will get passed up by SMART competitors and passed over by SMART customers.

What can we do to keep up? What can we do to get ahead? What can we do to earn the top margins in our ever changing and competitive marketplace?

Below, please find a list of 7 things (8 more coming on the next blog) that you can start to do today to stand out from the crowd, differentiate yourself (and thus your product/service), and command the respect and attention of prospects, customers, and clients:

1. Start a strict regimen of pre-call preparation.

Do your homework before making that call on any executive or decision maker. Google them, research their industry, read their industry magazines, learn about them and their company. The things that you learn will help you build a platform from which relevant questions and conversation can begin. In order to have something relevant to offer, have something relevant to ask and something relevant to say!

2. Decision maker or decision influencer?

Being clear about with whom it is you are meeting/dealing with before you begin. This will help you build the appropriate value proposition. If you are developing a “champion” or a “flag-bearer” in an account, make sure that the value of your offer speaks to their needs. Typically, the decision maker is motivated by, and thus will act upon a much different set of criteria than those you met on the way in—sell accordingly. Never assume what their motivation is. Always dig, probe, & listen before you diagnose.

3. Make a few phone calls in advance.

I suggest calling anyone who may know anything about an account before actually attending a meeting to get a flavor for what you are about to face. Knowledge is power—power can be leverage. In addition, if there are to be several people in the session, I suggest calling as many of them as possible in advance to discover or uncover any issues or expectations.

4. Speak the customer’s language.

Too many salespeople have a tendency to present their offer in language that is filled with their industry words. The problem? The customer doesn’t know your industry like you do so a “disconnect” or confusion can occur. I suggest that you record your value propositions, presentations, conversations, and questions as often as possible. Get these recordings in the hands of non-industry people and get their opinion. You might be surprised that the reason you are not closing enough sales is that the door to understanding has never been opened due to a language barrier.

5. Read, learn, grow!

Commit to reading a book every month on how to become a better sales professional. You will be amazed at the new moves that you will adopt for your sales success. In addition, read at least 2-3 business or industry magazines every month. You will learn things that you did not know. This can add to your confidence and, if you figure out ways to use this knowledge to differentiate you from the crowd (adding value to your customers) it will add to your commission check!

6. Be the quarterback of your sales efforts.

Someone has to call the plays. Make sure that on every interaction with prospects, customers, and clients you clearly define the purpose of the call and stick to it. When the call purpose is met, clearly identify next steps with the customer in addition to who is responsible for what. You guide the timelines, you run the plays, and you call the shots. The result will be getting to yes faster. (as well as getting to NO faster…see next item.)

7. Ask for the yes once you’ve earned it-but don’t be afraid of the no.

Occasionally, you need to drive your pipeline business further along towards a yes knowing that the result will most likely be a few fresh nos. Is this a bad thing? Absolutely not! Stop wasting time on those who cannot or will not buy from you. A full pipeline of nos is worse than no pipeline at all. The time you invest qualifying OUT the non-buyers will be well spent once it’s re-invested in prospecting for those who can and will say YES!

Tuesday, October 13, 2009

Replace Desparation with Determination

In working with a client yesterday, I spent a good part of the day with one of the top salespeople of the company on a couple of sales calls. Just like many of our businesses, this company is experiencing some revenue and margin "slide" during this economy. In fact, overall, the company is off about 13%. This individual salesperson is currently off about $2500-$3000 per month in personal income due to a drop in sales and margins as well.

The thing that I noticed most was a dramatic change in his approach compared to that of a year ago. On a sales call that was designed to recapture a LOST customer (one worth about $250k per year in revenues) the entire approach was focused on getting to the lowest possible price. All that was discussed was price and product. Although the customer was specifically focused on "what they pay," (and this particular customer was a considerable hard case) the salesperson did not even venture into the areas of benefits. Never once was a discussion approached about profitability or productivity. The conversation started and ended on a negative note of "times are tough" and was only mixed with pessimism and lack of trust.

The offer was presented from weakness. The entire building wreaked of desperation! The customer actually took the written offer from the salesperson and said he would show it to the existing competitor (who took the business away in the 1st place) to see if he would match it and this salesperson said NOTHING! "Oh please buy...oh please...oh please...oh please!" I thought I was going to be ill! Desparate times do NOT call for desparate measures....desparate times call for determination and commitment!

Yes I understand that we needed to get that business back. Yes, I understand that this customer was purely focused on price....most are today! THAT is exactly why I need a committed, determined sales professional today more than ever. Desparation seeks the weakest point and the path of least resistance. Desparation forces us into battles that we are destined to lose. Desparation challenges our character and our standards--a challenges we often lose!

Now is the time we need to draw that line in the sand and determine who we are and who we are NOT! Now is the time that we decide that IF we have to lose, we lose on OUR terms---not theirs! Now is the time that we need to man-up and make a stand for what we know is the RIGHT path. It is not easy but it is simple. As Nancy Reagan once taught us, "Just Say No!" In fact, while we were in the account--and it was not going well--I asked the question "What would the President of your company do right now?" You want to know his answer?

He said, "I have no doubt that he would walk! He would not let this customer ever buy from us again!"

At the end of the day as we de-briefed our time together, this particular salesman and I broke down a few of the numbers and realized that for all of the work that had gone into this customer thus far (and all that would need to go into to it should he decide to come back because cheap customers are the biggest pain in the asses!) the overall commission for the salesperson would come out to be about $40 per week. I asked him if he felt if (as a past $150K per year earner) that was worth his time. You could see his head drop. You see, desparation causes us one final, ptentially fatal problem: We lose sight of our priorities.

I challenge you to re-visit your goals and your approach from last year. (Remember? Back when times were better and customers weren't as focused on your price?) Although a tough economy forces us to adjust our approach, it cannot force us to lower our standards and to challenge our character. Now is the time that we need the strenth of conviction the most from our leaders and from our sales team. Now is the time that determination needs to kick the crap out of desparation!

In many of the battles in our nation's history, many men have died trying to grab the next piece of land or to "take the next next hill." This economy has created a new war-like mindset for many of our competitors and some of our customers! It seems that we are all in a FIGHT for every dollar and every deal we can get. Perhaps we all need to take a few moments to decide who the enemy is and which "hills" are worth fighting for. We cannot make the customer the enemy and we need to decide which hills are worth the fight!

Sell-Smart!!

Monday, October 12, 2009

Too Early to Start Setting 2010 Goals?

As I sit here on yet another plane ride on another Sunday night to yet another speaking engagement/training session on Monday, I find myself mapping out my 2010. The thoughts that I have been capturing on paper are based partially on long term goals that I have had for years, (that I remain committed to) combined with new goals that are a combination of things learned thus far this year with things I wish to engage in or complete in 2010.

In years past, I have waited until late December to address the upcoming year. Like many of you (I assume) as I get older, I find myself thinking more about the things that I want to get done each year. The years seem to be cruising along faster every year and as my children grow, there is even more pull on my time from the home front. Priorities adjust and success gets redefined with every year.

I want my business to grow and yet, I want to spend more time with my children. I want to expand into different areas of value for my clients, and yet I wish to keep my firm small. I want to get in 100 rounds of golf while lowering my handicap and yet wish to continue my quest for greater health through consistent exercise and better eating. I want to travel and vacation more with my family while they (we) are young and yet….well, see all of the above. I want to complete two books currently under way. I would like to see my staff earn considerably more income without putting in more hours-and without cutting too deep into company profits. I want…I want…I want. Thus, I begin the process of mapping it out.

Have you thought through and decided what you want to DO in 2010? I suggest that give it some thought. Why not now? Why wait? Get a first draft started and share it with your family and your team at work. Get input from others. Look at the calendar and start penciling the WHENs to the WHATs. Some things will get scheduled and others will have to wait for another time. When will you take the time to read, to take a class, to grow, to get stronger, to exercise, to live, to share, to love, and to “check out?” Oh yeah, through all of that, when will fit in the time to grow your business?

This month, schedule a few hours (you have to schedule them-you won’t find them) to give some thought to your upcoming year. Think on paper! Write down everything that you’d like to engage in or complete in the upcoming 12 months. Don’t put limitations on yourself-just write them down as if you could not fail. Attach real numbers and dates. Avoid “wandering generalities” and be as specific as you can. Once you have your list, stop and schedule a second time period to prioritize and plan these things.

Creating a road map for your personal and business success is serious business and requires thought---that’s why so few people do it—and why those that do, do it poorly.

Wednesday, October 7, 2009

Get out of Your Comfort Zone--SHAKE Things Up!

There comes a time in every sale professional’s life that they get into cruise control. They simply get into a mode of operation that finds them grinding through the same activities day in and day out. This may be something that they have gotten into consciously or on purpose but more often it is a state at which they have arrived quite by accident.

There are several reasons that one gets into this Comfort Zone. Maybe they are happy where they are. (Or at least that is what they say) Maybe they have too much going on to even think about trying something new. (Or at least that’s what they think) Maybe they are coming off a great sales month and have decided to “take a breather” to enjoy their success. (This is a killer!) Perhaps they have fallen into a routine of “meeting management’s minimum activity requirements. (“Hey, I made my calls and filed my reports!”) Perhaps they feel that trying something new will increase their chances of failure and will cause more work for them. Maybe they are too busy taking care of customers to Maybe they are simply tired, lazy, or misdirected.

Whatever the reason, or excuse, the dreaded Comfort Zone is a dangerous place for a sale professional to be. It is a place where Maintenance is the goal and Growth is the stranger. It is the place where Goals have been forgotten and Dreams have been eroded. There is no place for a growth oriented sales professional to be!

Is a Comfort Zone a bad thing? I guess that depends upon who you are and what it is that you want out of your career and your life. Most people get into the profession of selling based upon an earning potential that is sometimes without limitations. The top performers among all sales professionals in the marketplace today are consistently looking for ways to improve and grow their results. And even they can sometimes find themselves in cruise control mode! For sales professionals, this is a BAD thing!

What need to happen to SNAP out of this Comfort Zone? You need to S.H.A.K.E. things up a bit! What does S.H.A.K.E. mean?

S-Set or Revisit Your Goals for the Year
It is my belief that when a sales professional gets too comfortable with the status quo, the main reason is that they have lost sight of their goals. Each and every year it is imperative that salespeople take the time to set their goals for the upcoming year. Why? We are in a career that necessitates self discipline and committed action in many areas. Often, there is not a boss breathing down our neck or a time-clock to punch to ensure that we are “staying the course.” Therefore, we must decide what it is that we want to accomplish each year in our business and personal lives. Our goals must be clear and concise rather than wandering and vague. They must be written down and have deadlines (or lifelines-if you prefer) assigned to them.
If you find yourself working within your Comfort Zone, you need to re-visit these goals. You need to remind yourself what it is that you really want to accomplish (to GET) out of this year! There is an ancient Eastern proverb that says something like, “When one is aware of the why, they can deal with almost any of the how.” So, refocus on what you set your sights on this year so that you can get back to the business of working towards the goal instead of just working.

H-Have a Solid Game Plan
Before you go rushing off towards a new (or re-committed to) goal, you must first have a clear plan of what to do—as well as what NOT to do. Think of all of the things that need to occur in order to accomplish the goal. What needs to happen? What needs to happen this month, next month, next quarter, etc. What needs to “go on the back-burner?
Organize your list into a plan by priority and sequence. Understand that there will be obstacles. Understand that every plan will have potential unforeseen roadblocks that will come up. Try your best to identify as many of them as you can beforehand with a contingency plan to work your way through them or around them. No excuses, no blame! If there is a game plan (a track on which to run) than you have a much better shot at accomplishing what it is that you set out to do.

A-Arrive Earlier to the Game
In reading a recent article in INC. Magazine about success traits of some of the nation’s top executives, one of the common things that all of them shared was they got an early start every day. Most of them were up well before 6:00am and “in the chair” before most of their competition. In the game of life, you have very few opportunities to “gather an edge” over the competition. The competition that we are discussing in this article is the Comfort Zone—the competition for your success! Set a goal to get up 1-2 hours earlier than usual for the next 60 days. If you are normally just getting up at 7:00am, then immediately re-set your alarm clock to “join the 5 o’clock club!” The things that you can accomplish or the way that you can prepare in those “Golden 120” minutes between 5:00am and 7:00am will snap you out of your Comfort Zone and into your Action Zone! Think about all of the things you can accomplish:
-You can read the entire newspaper (or two) and enjoy your coffee while you do.
-You can get in 30-60 minutes of solid cardio exercise to “get the crud out of your veins” and get your blood pumping.
-You can write an entire chapter in your upcoming book or an article for your prospective new customer’s industry magazines.
-You can spend 10-15 minutes in preparation (doing your homework) for each today’s sales calls.
-You could prepare 20 questions for every face to face sales call that you are going on today. (Heck, you might even be able to practice them aloud!)
-You can read a book on sales, self motivation, time management, overcoming objections, price negotiation, etc.
Are you getting this yet? All of the things that you say that you never have time to do can be accomplished if you “Arrive to the Game Earlier.” So, to quote Tom Hopkins, G.O.Y.A----Get Off Your _ss, get up, and get going early.

K-Kick up Some New Activity
I am often reminded of an old commercial for Dunkin’ Donuts that highlighted the donut maker waking up every morning, day-in and day-out, with the same phrase, “Time to make the donuts…” Every day, he went about the exact same routine of waking up at the same time and mindlessly getting to work to crank out dozens and dozens of donuts. I see to many sales professionals falling into the same trap. They get up each day and mindlessly go through a set of prescribed motions designed to identify, capture and engage new customers while, at the same time taking care of existing customers. The find themselves often times in a rut. (Which has been described as a grave with the ends kicked out!)
It’s time to Kick up some new ACTIVITY. In order to get out of the Comfort Zone rut, we need to take a long hard look (hell, make it a short glance) at the myriad of things that we do each and every day and ask ourselves if each one produces the results desired. Next, we need to identify 5 NEW activities that we can begin right now that will re-ignite our creative flames, get us out into the limelight (in front of our customers), and shake things up! Here are a few examples of some ideas for you:-Start writing 5 handwritten notes every day to your existing database of customers and contacts. Coming up with creative ways to connect or to re-connect with these folks will start to get you going. Think out of the box—use a variety of notes—handwrite each one with a little personal flair (about you as well as the customer), and put a stamp on each. I guarantee that they will get opened and some will spark action on the part of your customers.
-Identify and touch (a call, a note, an article, an email, etc.) no less than 5 new prospective accounts every day for the next 60 days. Putting out about 200 touches is bound to stir up some action.
-Attend a few networking functions with a game plan that you follow to the tee. This game plan should be designed for you to connect with and meet no less than 10 people per event that can either buy from you or influence a buying decision in your favor.
-Write 3 articles to submit to the industry magazines that your customers read. Hint: Make the articles about their world and not yours. The trick is to become visible to your marketplace.
-Call three current customers every day for the next 3 weeks and ask them for referrals. Hint: Have a solid plan for this---you need to earn referrals. How can you earn them before you make the call?Are you starting to get the picture? Action begets Action! Doing the same thing every day and expecting different results is what Einstein called INSANITY!

E-Enjoy the Results of Your Work!
When all is said and done; when you have recommitted to your goals for the year, built and taken action on a solid plan to accomplish those goals, gotten into the habit of arriving earlier to the game, and kicked up some new focused activity, the results will be apparent! It is very important to celebrate your re-birth to the land of the committed. It is paramount to enjoy the fruits of your re-found effort. Enjoy, this is a game. This is a journey. As I said however, it is you who draws the map for the journey. If you know the destination and can lay out a route to get there, you will have a much better shot of changing course when you take the occasional exit on the Comfort Zone freeway.


The choice is and will always be yours to make. It’s easy to coast, to cruise, and to remain where there is little risk. It’s easy to take the path of least resistance and stay where you know what you know. However, this path will often not get you what you really want. It may occasionally give you a taste of what you want, but if you are focused on what you really want, and are willing to stay focused, you can get what you really want!

As Ralph Waldo Emerson once said: “What lies behind us and what lies before us are tiny matters compared to what lies within us.

The next time that you find yourself staying too long inside your Comfort Zone, understand that you are not working up to your potential. Your ability to unleash your potential is determined by your willingness to S.H.A.K.E. things up! Now go get shakin’!