Wednesday, July 20, 2011

Approaching SELLING like we do a VACATION!



We recently took our grown children and their families on a vacation to the Turks & Caicos Islands. It occurred to me as we had the time of our lives with them, that a vacation is a great model for effective selling!!

Here’s the 12-step analogy I realized:
1. Vacation: Our first step was to determine a place all three generations would enjoy
Selling:Much like thinking thru the profile of a good prospect

2. Vacation: Then we asked everybody what they’d most like to do
Selling: Along the lines of determining the customer’s needs

3. Vacation: We used the internet to research all the places that seemed to fit
Selling: Matching the prospects requirements/needs with our ability to deliver

4. Vacation: We determined our budget
Selling: Deciding how much were willing to invest in the deal

5. Vacation: As we approached the departure day we carefully planned what to pack
Selling: Reminding me of the importance of being sure the presentation was ready and customized for the prospect

6. Vacation: We arrived at the airport in plenty of time to make our flights
Selling: Just as we should arrive a few minutes early on any sales call

7. Vacation: We took small “emergency” bags on board in case our luggage didn’t arrive with us
Selling: As we should be sure the technology, handouts etc. are ready with backups available

8. Vacation: When we arrived we immediately walked around the lovely resort to get a sense of how it all worked
Selling: Reminding me of the importance visiting with the reception people and any others to get a sense of the culture and how we might modify our presentation style to fit with their business culture

9. Vacation: While we were there we immersed ourselves in all there was to do; diving often, swimming, hiking, learning about a new and different culture
Selling: Just like we need to show a real and sincere interest in learning all we can about our prospect and how they operate, make decisions
and buy

10. Vacation: We took photos and kept diaries of our events so we wouldn’t forget them
Selling: Just as we should all take careful notes to remind us of the details and nuances of the potential sale

11. Vacation: When we got home we made photo albums for each to have as a memory of the trip
Selling: As we should commemorate and share with our team the results of significant meetings and communications

12. Vacation: We took a family poll to see what we liked best and what we’ll do differently on our next one
Selling: Just as we should seek feedback and adjust accordingly


“If we could just inspire our salespeople to plan their day like they plan their vacation— performance would increase dramatically!”

Tuesday, April 19, 2011

Herding Sheep

I often hear clients refer to “herding cats” meaning it’s nearly impossible to get everyone on the same page, which for anyone having a cat, is just too obvious. Or “herding sheep” as a reflection of how hard it is to get everyone moving at roughly the same pace. It occurs to me that many may not really understand the comment at the level needed to successfully address the issue.

I was raised on a ranch in Wyoming (I still own our brand, the /\7, the “open a seven”) and we had both sheep and cattle. Cattle were very independent and tended to roam at will, knowing where the food and the shelter was to be found, a t least right up to winter when we needed to bring them in to a central headquarters location where we could care for them during the worst weather when little or no food and surely no salt was available on the range.

Sheep were another issue. First there were three levels of “leadership” needed. The sheep dogs, indispensible, served to nip at their heels to get their attention and keep them moving together as a group, rather like many sales managers; then we has a lead goat, its job was to lead the flock to the next green pasture where feeding was plentiful; rather like the marketing manager who needs to discover and present new and innovative ways to help the salespeople thrive; and finally we had a sheepherder, who’s primary, really only job, was to protect the herd from predators. I’ve seen sheepherders walking for miles over difficult terrain carrying a new lamb on their shoulders, bringing it back to a willing nursing mother. I see this role rather like senior management, who can protect the sales people from those that would detract from their focus, causing them to become wayward and lost, well, less productive then they could and should be for sure.

It’s interesting to me how often life is imitated in different ways and different places. Perhaps we should re-think our sales management roles using the “herding sheep” example.

Hope you enjoyed another of my analogies!

Sunday, April 10, 2011

the 6th Law of Sales

• Don’t misinterpret “the customer is always right.” The customer is right about his desires, perhaps even his requirements. But all too often they really don’t know what they don’t know. They have come to you to add value to their purchase decision. An example is a woman at a cosmetics counter - they’ve been applying their cosmetics for years, they know exactly how they want to look, yet they ask question after question at the counter. Why? Because they know the person they are talking to is experienced and trained with all products including the latest and may have ideas and knowledge they don‘t. Customers want to be educated, to be shown a better way, to have their needs/requirements refined to take advantage of current products/services and methodologies. They don’t want to make a mistake and be “sold” what they asked for, when they could’ve done better with some expert input and guidance. Listen, interpret their comments, and then offer a solution that adds value to the transaction.

Sunday, March 13, 2011

5th Law of Sales:•The sale is “closed” when it’s referencable. The truly great know that receiving a purchase order isn’t the end of the sale, it’s merely the beginning. But too many believe the sale is official when the service/product has been delivered. That is still a bit pre-mature to celebrate. The sale that matters most is the sale that meets the customer’s requirements in a way that results in a referencable customer. It is said that 80% of all sales occur after the 5th contact. A meaningful reference can reduce that number by a many as two, cutting the time and sale expense by nearly 40%! And 76% of all people who get a good personal reference, buy.

Saturday, December 18, 2010

A 4th Key Law of Sales:

Respect the buyer’s process. The truly successful sales people know that they have a superior ability to “take the customer out of the market,” in other words, they know that they have been successful in establishing the trust-bond, and in matching their services/products well with customer’s requirements so that when the customer does buy, he knows they will buy from him. He accepts that he cannot and should not try to materially alter the buyer’s process, for doing so will violate the trust-bond, and likely result in sacrificing margin. Far too often those in desperate need to meet a quota deadline will offer a concession to win the deal earlier then the customer was prepared to authorize it, and in a great many cases the incentive comes in the form of a price reduction—“if I could get a lower price, would you order this month?” It’s a lose/lose question:
o The trust-bond has been broken. The customer now knows he didn’t get the best his sales person could’ve offered
o The sales person has sacrificed margin, making the transaction and his company less profitable
o The customer must do abnormal things to make the sale happen, which he’ll both learn from and resent
Far better to have managed the pipeline better, spent more time developing prospects, less time chasing deals that really weren't qualified deals, and knowing that there are enough opportunities in the sales funnel that the requisite number will materialize, without adversely impacting the normal and natural course of events at any one customer.

Monday, November 29, 2010

More on the Immutable Laws of Sales

The great sales people recognize the “yes” that isn’t an order, but is the “yes” that comes from following the path of least resistance versus the path of a disciplined methodology. When the sales manager asks if an account closed and was the order placed, and the answer is, “not yet, but they said they’d like to meet again” we’ve potentially allowed ourselves to fall into the trap of the “easiest yes”. This can be avoided by setting goals and objectives for each customer contact that will advance the sale—not that it will always go as hoped or expected, but at least it was a planned sales call with a defined objective against which we can measure the success of the call and avoid the “yes” that does not mean we’ve won the sale, but does impose additional expensive time, effort and sales cost.
Additional ideas can be found on my web site at www.focusedonrevenue.com
or my blog at: http://michaelbpearce.blogspot.com/

Sunday, November 14, 2010

Another in my short series of the Immutable Laws of Sales:
The importance of the trust- bond, it outweighs all of the features and benefits of any product or service. People buy from people they trust and salespeople who add value to the relationship. Notice I didn’t say a person they like, which is important too, but less so than the trust-bond. Too many organizations teach their sales people all about the features and benefits of their products/services, but they fail to focus in either their coaching or the measurement standards on this key element of truth—the trust-bond matters!
Additional information may be found on my web site at www.focusedonrevenue.com or my blog at: http://michaelbpearce.blogspot.com/