Tag Archives: clients

Are You About to Lose Your Largest Client?

My friend and colleague, Lee Salz, has the #1 sales book on Amazon right now. If you haven’t read it yet, now’s the time to grab your copy: Amazon is selling the Kindle version of Sales Differentiation for only $3.99 in the U.S.

In honor of Lee’s brand-new book I have invited him to be a guest columnist for this week’s Sales Shape-Up.

By Lee B. Salz

For the last five years, a hardware supplier sold screws to a national home building company. Whenever the home builder ordered screws, the supplier delivered them accurately and on-time. If the home builder wanted Philips screws, the supplier delivered them. If they wanted flathead screws, the supplier had those, too. The supplier had screws of all types and sizes which allowed them to serve this national home builder client.

The supplier was proud of its performance, and the home builder was pleased with the customer service responsiveness. Over the years, this client grew to become one of the largest, most profitable clients in the hardware supplier’s portfolio.

One day, everything changed. The home builder stopped buying screws from this supplier. A competitor came along and took the account away.

How could that happen given the performance of the hardware supplier?

The competitor talked with the home builder, not just about the screws. The salesperson inquired about the tools they used to install the screws and the material in which the screws were installed. Interestingly, just like the incumbent supplier, the competitor could provide a comprehensive solution rather than sell a single product. Unfortunately for the incumbent, they never had a conversation about the full solution they could provide. They were complacent with the revenue they had and felt that their customer service would create client loyalty. Unfortunately for them, they were wrong.

They lost this account, and the competitor didn’t win it on price. They used Sales Differentiation strategy to position the value of consolidating suppliers with a comprehensive solution which made a strong business case justifying a change. The incumbent was merely a product-pusher and did nothing to provide meaningful, differentiated value.

This story parallels a dynamic I find in most companies. They have a fragmented client portfolio. They sell a product to a client and don’t develop a strategy to position the full solution they can bring to bear. They may have sold a single product to a company or a full solution to a division or location. In both cases, there is more selling to be done!

The key is to use a selling strategy I refer to as conquering accounts. Your client portfolio represents both opportunities and vulnerabilities which a conquering accounts strategy addresses.

The opportunity you have is to grow revenue with those you presently have a relationship.

The vulnerability comes into play when you don’t have a conquering accounts strategy as a competitor, just like with the hardware supplier, comes along and presents a compelling solution rather than pushing a product.

Have you ever looked at your client portfolio and asked yourself how much untapped revenue it represents? If you haven’t, you should! In my experience with clients, I find their client portfolio looks like a slice of Swiss cheese. There are unnecessary holes in their portfolio where they leave revenue on the table and themselves unnecessarily vulnerable to the competition.

Salespeople are pushed to hunt for new accounts, but who is tasked with going back to the existing clients with a conquering accounts strategy?

The first step in the development of your Conquering Accounts Strategy is to put together a Product Contrast Matrix as described below:

1. List of all of your products in the left-hand column

2. In the second column, identify who the competitors are for each product

3. In the third column, ask yourself who buys this product (market segments and the Decision Influencers within them)

4. In the fourth column, for each product, ask yourself the following question:
If they are buying this product, what other products of ours should be of interest?
(If the hardware supplier had asked themselves that question, they would have identified opportunities on both sides of the screw.)

5. In the fifth column, explain why the other products should be of interest by asking this question:
What is the synergy between the product they are currently buying and the related ones?

6. In the sixth column, list the competitors for the other product(s).

Once completed, contrast the data in this tool with your client portfolio. You will quickly be able to see opportunities and vulnerabilities which you can resolve by conquering the account.

Assign each account to a salesperson to develop a conquering accounts strategy and develop a timeline for execution of the strategy.

Your conquering accounts strategy allows you to play both offense and defense against your competitors. You drive revenue and keep them out of your accounts. Using Sales Differentiation strategy to conquer accounts leads to explosive, profitable growth.

Jeff Beals helps you find better prospects, close more deals and capture greater market share. He is an international award-winning author, sought-after keynote speaker, and accomplished sales consultant.  He delivers compelling speeches and sales-training workshops worldwide.  He has spoken in 5 countries and 41 states.  A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.

The Price of Putting Off Prospecting

By Jeff Beals

Procrastination is one of the leading causes of poor sales performance, according to research published by Gong.io, a technology company that analyzes sales reps’ conversations for its client companies.

Gong’s data-science team analyzed 15 months of telephone conversations between sales reps and their prospects.  The results showed that average salespeople made far more calls in the last month of the quarter than the first two.  The success rate of those frenzied, last-month calls was measurably lower than calls made early in the quarter.

In other words, according to Gong, having a bad quarter almost follows a pattern: two “lazy” months of prospecting followed by a frantic third month characterized by a desperate scramble to drag prospects across the finish line in time to make quota.

The study showed that average sales reps (defined as being below the top 20 percent of performers), were far more likely to follow this pattern of procrastination than those who were consistently top-20-percent producers.

It is understandable why this happens.  After one quarter ends, you feel a sense or relief if you did well.  Even if it wasn’t a good quarter, you feel like you have all the time in the world to make your sales goal once a new period starts.

Legendary football coach Tom Osborne once said, “The odds are always against you no matter what your previous history is.  You have to overcome the tendency to relax.”

It’s hard to stay on top of your game and stay on top of your company’s leader board.

If you want to be a consistently elite sales professional, you need to push yourself just as hard at the beginning of a quarter as the end.  You need to be disciplined.  It helps to start strong.

In keeping with the football theme, a team’s performance during a game is largely determined by the way players practiced the previous Monday.  If you have a big victory over a key rival one weekend, it can be hard to come to practice Monday with adequate intensity.

How can sales practitioners keep the intensity?  How can you avoid the natural tendency to relax once a quarter ends or a big sale closes?

Prospect like your life depends on it.  Because it does!  Prospecting is harder than ever, so you need to be more diligent.  Prospecting is a mindset, a way of life.  You could even call is a “lifestyle.”  Embrace it. Welcome it.  Do it every single day of the week.  While prospecting can be nerve-wracking and frustrating, push through it.  If you are positive about it, you’ve won half the battle.

Time blocking.  You have to make prospecting one of your top daily activities.  You even have to do it on days you’re closing other deals.  Top producers literally reserve blocks of time for prospecting and they don’t allow any distractions during those times. I know of no other use of your time that is more likely to lead to long-term sales success than being a dedicated, disciplined prospector.

Make a plan.  While you need to be an enthusiastic prospector, you do need a plan. If you run to the nearest phone and start dialing cold prospects haphazardly, you’re wasting your time.  Your plan should include what types of people you target, where you get leads, how you do pre-call research, the language you use to establish value and the tactics you use to push them further down your pipeline.  Ideally, you make next quarter’s prospecting plan before the current quarter ends.

Jeff Beals helps you find better prospects, close more deals and capture greater market share. He’s an international award-winning author, sought-after keynote speaker, and accomplished sales consultant.  He delivers compelling speeches and sales-training workshops worldwide.  He has spoken in 5 countries and 41 states.  A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.

To discuss booking a presentation, go to JeffBeals.com or send an email to info@jeffbeals.com or call 402-637-9300. 

Harness the Power of Referrals to Make Prospecting Easier

By Jeff Beals

A client of mine once needed help opening a branch office in a different city.  I called a commercial real estate company owner I knew in that town.  The owner connected me with one of his young sales reps who was excited to receive the referral.  The rep thanked me profusely. I thought, “Well, I chose a great guy to do this deal!”

But that turned out to be the last time I heard from him.

Six months later, I ran into the client I had referred, and he told me he ended up doing a deal in that city. I asked how the rep to whom I connected him. My client’s response was troubling: “I actually never heard from him, so I used someone else.”

I was incensed. I called the sales rep and asked what had happened. He stammered a bit and basically told me he let the client “slip through the cracks.”  That was not something I wanted to hear.

The rep should have given my client extra attention simply because it was a client referred by someone. He should have sent me a short email each month during the deal keeping me up to date or at least notifying me each time the deal passed a milestone. I entrusted him with one of my precious clients, and he let me down.

By blowing off a referral, the young sales rep missed out on a golden opportunity, because referrals are one of the most important tools we sales practitioners have in our toolboxes.

You want to know the quickest path to prospecting success?

Use referrals.

It’s getting harder and harder to cut through the clutter and reach influential decision makers. That’s why referrals have never been more valuable than they are today.

In an era when buyers are jealously protective of their time, a referral from a trusted source is your ticket to the show. The higher up a prospect is in a company, the more important referrals are.

Reaching busy decision makers is not the only reason you should ask past/current clients for referrals.  By asking for business leads, you could find out about prospects who otherwise would remain hidden from your view.  There are essentially thousands of prospective clients out there who you do not yet know and who have not heard of you.  A referral is your ice breaker, a chance to know someone who could someday become one of your best clients.

Additionally, referrals can get prospects thinking about making a change even when the thought of changing hadn’t previously entered their minds.

For example, let’s say there’s a client who is marginally happy with their current vendor.  They’re happy enough that they don’t feel compelled to look around but they’re not so satisfied that they wouldn’t consider an unexpected solicitation from someone who referred you.  A referral could be just enough of a catalyst to make them consider a new provider. Referrals are catalysts.

Have No Fear

Despite the power of referrals, some sales professionals are hesitant to ask their current/past clients.  Perhaps they are worried the request will be an unwanted interruption in the client’s busy day.  Perhaps they’re worried they didn’t do a good enough job for the client.  Perhaps they fear “going to the well one too many times” — they already took time from the client when doing the deal, so they feel guilty taking more of the client’s time now.

If you have done a good job of serving the client while at the same time building trust, have no fear or hesitation asking for a referral.  In fact, you could make the argument that the referral actually strengthens your relationship with them.  It’s kind of flattering when a vendor wants me to make referrals on their behalf.  It shows me that I was an important and prestigious client.

Asking for a referral puts you and the client on the “same team” and creates more of a friendship between the two of you.  Furthermore, saying nice things about you to others reinforces and reminds your client why you’re so awesome.

Some clients might actually be a bit offended if you don’t ask for a referral. I once had a client with whom I worked a long time and built a nice friendship. After a couple years, I finally asked for a referral and testimonial.  Her response?  “I was wondering why you never asked me for that!”

Who Should You Ask for Referrals?

  • A person whose name, title and profile make you look impressive
  • Someone who will say great things about you
  • Someone who is very pleased with your product or service
  • Someone with whom you have mutual trust
  • Someone who has a large number of valuable contacts

When Should You Ask?

There’s no set time in the sales process when you are supposed to ask for a referral. That said, it’s probably best right after you have done a great job and your client is basking in your good work. Some sales pros are hesitant to ask a client from long ago.  Don’t fret if time has gone by.

Simply call and say something reminded you of them and how much you enjoyed working with them.  Then ask for a referral.

Referral Process

If prospects agree to give you referral, the best option is to have the referrer connect you directly They could make a coffee or lunch appointment for the three of you or perhaps send an email introducing you (“There’s someone you NEED to meet!”). If this isn’t an option, perhaps the referral giver could arrange a three-way phone call.

The second-best option is for the referral giver to send an email or make a phone call letting the targeted person know you’ll be calling and why they should talk to you.

If the referral giver isn’t willing to do either of the first two options, you will have to initiate the contact with the targeted person mentioning the referral giver’s name.  Before making this call, make sure you have referral giver’s blessing to go ahead and make the call.

Before you talk to referred targets, learn all you can by asking the referral giver about them and by researching them online.

Keep the referral giver informed throughout the sales process. It’s simply a matter of courtesy and is especially important if the referral giver is due a commission or referral fee.

Always be grateful for any referrals you receive. When clients allow you to use their names to seek business from their cherished contacts, they are putting their reputations on the line just to help you.  That means you have an obligation to treat those referrals with the utmost care and respect.  Caring for referrals is a sacred trust in the sales world, so take your job seriously.

New Prospecting Masterclass Will Help You

If you want to get your prospects’ attention, you need compelling language that convinces them you bring relevant value.  That’s what my prospecting masterclass is all about.

If your sales team is not prospecting as effectively as it could, schedule this in-depth masterclass for your office.  It can be a half- or full-day program.  Either way, it will give the sales reps in your company actual language they can use to turn cold prospects into paying clients.

Click HERE for an outline of this interactive prospecting workshop!

  Jeff Beals helps you find better prospects, close more deals and capture greater market share. He is an international award-winning author, sought-after keynote speaker, and accomplished sales consultant.  He delivers compelling speeches and sales-training workshops worldwide.  He has spoken in 5 countries and 41 states.  A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.

How to Use the “Farming” Technique in Your Prospecting

By Jeff Beals

There is a long-time real estate sales concept known as “farming” in which residential real estate agents choose a certain geographic area to place particular emphasis. It typically is one neighborhood or subdivision consisting of several hundred houses. This area becomes the real estate agent’s “farm.”

There’s nothing to stop such a real estate agent from doing deals outside her “farm” in a variety of neighborhoods throughout the city, but she places particular prospecting focus on the one neighborhood. She memorizes all the houses in that subdivision and tries to get to know all the current owners. She becomes the specialist or expert in that neighborhood. She makes sure every homeowner in her “farm” has calendars, pens and other tchotchkes with her name and contact information on them. If the neighborhood has a Fourth of July parade or a block party, she’s there.

The hope is that anyone thinking of selling a house in the neighborhood would think of the agent and list the house with that expert agent.

There are other forms of real estate “farming.” Some agents “farm” an organization like Rotary, a school’s PTA or a country club as a way of finding clients. Farms don’t necessarily have to be geographic.

Professionals of any industry can learn a lot from real estate farming not just from a selling perspective but from a personal branding or self-promotion perspective.

While professionals like you and me probably won’t focus on a residential subdivision as we build our personal brands, there is much to be gained by farming your industry or your community.

Real estate agents, as well as salespeople in a variety of other fields, should develop spheres of interest. These would be groups of people they work with, socialize with or share some other common interest. These spheres of interest help salespeople find new clients.

Having a sphere of interest is similarly important for anyone trying to build a bigger and better personal brand, because just like a real estate agent you too are selling. What’s the difference? You’re selling yourself.

So, what’s your “farm?”  How do you define it and who “lives on your farm?”

Jeff Beals shows you how to find better prospects, close more deals and capture greater market share.  Jeff is an international award-winning author, sought-after keynote speaker, and accomplished sales consultant.  He has spoken in 5 countries and 41 states.  A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.”

Here’s Why Should You Choose Jeff Beals as Your Next Speaker:

“Jeff Beals has presented four different topics at five of our internal events this year. At each event, the audience of commercial real estate principals and agents was completely engaged and motivated the entire time. Jeff facilitates his training sessions in such a way that each member of the audience was able to relate and understand how to apply it every day in the field. Jeff is brilliant, and we have hired him to continue speaking at our events next year!” – Lindsay Fierro, Senior Vice President, NAI Global, New York, NY

“Jeff Beals is a consummate pro. With short notice, he put together an engaging, fun, sales-focused presentation full of specifics – just what our exec team needed. We’ll ask him back for annual company retreat again next year.” – John Baylor, President, On to College, Lincoln, NE

“You brought great value to our event. The workshop was a huge experience for our attendees by giving them the opportunity to improve their work in the critical environment in which we are living today. Your talent as a speaker and your qualities as a person made the difference during your time with us. I would certainly recommend you to anyone who asks.” – Ana Paula Costa, Educational Planner, Febracorp, Sao Paulo, Brazil

(402) 637-9300

Perpetual Prospecting Is the Key to Beating the Sales Cycle

By Jeff Beals

Do you invest in the stock market?

If so, you’re probably aware of the constant waxing and waning that characterizes the life cycle of the stock market. What goes up eventually goes down and what goes down eventually goes up.

If you’re a long-term investor, you tend to wait out the market cycles and instead count on the long-term growth that has always happened in the market over extended periods of time.  If you’re a short-term investor, you may be playing the cycle, hoping to buy or sell at precisely the right time.

Either way, the stock market goes up and down.  When markets are optimistic, investors begin to feel enthusiasm, then exhilaration.  Eventually, it starts to feel like you’re invincible, that every investment you make pays off.  That false belief compels some investors to make reckless decisions and take questionable risks.

Just as the stock market reaches its feverish peak, the bull market ends.  Most people don’t realize it right away, and investors often go through a period of denial.  But eventually pessimism sets in, which leads to panic and then despair: the bear market.  Of course, when people are depressed at the bottom of the trough, that’s when things slowly start to trend upwards, starting the whole cycle over again.

Sales practitioners tend to go through cycles quite analogous to the stock market: highs and lows, peaks and valleys.

At the peak of the prospecting cycle, the “bull market,” you have so many deals to close and so much easy business that you’re tempted to put off prospecting activities.  Of course, that eventually leads to an empty pipeline.  When you realize you have no prospects in the pipe, you prospect like crazy, which eventually leads to another up cycle.

If your personal sales cycle is too volatile, you are putting yourself under a great deal of stress.  There’s one secret to evening out your cycle while keeping your revenue going up each year: perpetual prospecting.

Prospecting is the key. It’s the reason 20 percent of sales reps do 80 percent of the business (In some companies, it might be closer to 10/90).  It’s the reason why some sales reps do well even during a recession.  Prospecting separates the good from the great.

I like to define prospecting as “the art of interrupting someone when they don’t expect to hear from you in order to provide them with something they need that they might not yet know.”

As that definition implies, there is one aggressive part of prospecting: “interrupting someone.”  But the rest of the definition implies that sales reps are doing prospects a favor by introducing them to something important: valuable products and services.

If you want to be a better prospector, and consequently make more money, here are five quick pieces of advice:

Prospect Life Your Life Depends on It

Your sales life DOES depend on prospecting.  Ideally, you should consider prospecting to be a mindset, a way of life and a fundamental part of your company’s culture.  When things are going well and you’re closing so many sales you can hardly keep up, you still need to carve out at least a little time for prospecting.

Be an Opportunity Detective

Turn over every rock and scratch the dirt.  Opportunities are often buried layers below the surface.  Keep in mind that every person you meet could potentially lead to business and that prospects can theoretically be found any place you go.

Apply Discipline to Your Prospecting

In order to make sure you prospect perpetually, block out a couple periods of time each week that are reserved for prospecting activities: telephone calls, personalized direct emails or showing up at prospects’ offices.  This time should be a non-negotiable calendar commitment not to be interrupted or rescheduled unless it’s an emergency.

Be Obsessed with Prospect Value

When you engage cold prospects, you want to talk about things you believe they value instead of talking about you or your company.  For instance, too many sales reps start prospecting messages with statements such as: “We’ve been in business since 1910,” or “We offer a full suite of IT solutions.”  Instead, research the prospect before contacting them and talk about what they value and then be ready to explain how the outcomes/results of your products and services satisfy those values.

Plan Ahead

Nobody plans to fail but sales practitioners regularly fail to plan.  I recommend you map out your weekly prospecting plan on Sunday evening or early Monday morning.  Decide who you’re going to contact and research those prospects ahead of time.  That way, when you get to your dedicated prospecting time, you’re focused on communicating instead of digging through websites and looking up LinkedIn profiles.  If you do anything other than communicating during dedicated prospecting time blocks, you’re wasting the prime calling hours.

Jeff Beals shows you how to find better prospects, close more deals and capture greater market share.  Jeff is an international award-winning author, sought-after keynote speaker, and accomplished sales consultant.  He has spoken in 5 countries and 41 states.  A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.”

Here’s Why Should You Choose Jeff Beals as Your Next Speaker:

“Jeff Beals has presented four different topics at five of our internal events this year. At each event, the audience of commercial real estate principals and agents was completely engaged and motivated the entire time. Jeff facilitates his training sessions in such a way that each member of the audience was able to relate and understand how to apply it every day in the field. Jeff is brilliant, and we have hired him to continue speaking at our events next year!” – Lindsay Fierro, Senior Vice President, NAI Global, New York, NY

“Jeff Beals is a consummate pro. With short notice, he put together an engaging, fun, sales-focused presentation full of specifics – just what our exec team needed. We’ll ask him back for annual company retreat again next year.” – John Baylor, President, On to College, Lincoln, NE

“You brought great value to our event. The workshop was a huge experience for our attendees by giving them the opportunity to improve their work in the critical environment in which we are living today. Your talent as a speaker and your qualities as a person made the difference during your time with us. I would certainly recommend you to anyone who asks.” – Ana Paula Costa, Educational Planner, Febracorp, Sao Paulo, Brazil

(402) 637-9300

The 8 Biggest Mistakes Sales Reps Make When Leaving Voicemails

By Jeff Beals

Let’s say it’s Tuesday morning at 7:30, the start of your weekly phone prospecting time.  You did your pre-call research the previous day and have your list of prospects ready to go.  You sit down at your desk, dial the first prospect’s number and…

You get their voicemail, of course.

The vast majority of prospecting calls go to voicemail.  Some sales pros gripe and grumble when they are automatically routed to a prospect’s voicemail.  They complain, that “nobody ever answers the damned phone!”

It is true that prospects are getting harder to reach.  It is also true that decision makers are more likely to let calls from unrecognized phone numbers go to voicemail.

But don’t consider voicemails to be a bad thing; see them as opportunities, little advertisements that can be customized exactly to each prospect’s unique situation.  Because you are most likely going to get voicemail whenever you call, it makes sense that you put a lot of thought and effort into each voicemail.  I know sales reps whose voicemails are so good and so effective, they would RATHER get a prospect’s voicemail than reach him or her on the first attempt.

In order to make your voicemail efforts more fruitful, here are some common voicemail mistakes that every sales rep should studiously avoid:

1. Talking too much

Sales voicemails should be less than 20 seconds.

2. Giving up too soon

It typically takes eight or more voicemails to get a prospect to call you back.  Most people quit after two or three messages, because they’re worried about being pesky or sounding desperate.  I’ll admit it feels weird to carpet bomb a prospect with eight or more voicemails, but if each voicemail highlights something of value, they are really effective.  If you are persistent there’s a good chance they’ll call you back.

3. Touching base

Never say, “I’m calling to touch base,” or “I’m just checking in with you.”  Those are annoying voicemails to receive, because they provide nothing of value to the recipient.

4. Talk about yourself

Never leave a litany of features and benefits on a voicemail.  Never talk about how great you are, how many awards your company has won or the combined years of experience your staff has.  Your prospects only care about how your product or service makes their lives better.

5. “I’m going to be in your area next week and would love to stop by and take just 20 minutes of your time.”

Just because you are coincidentally going to be in a prospect’s city, doesn’t mean that a prospect wants to drop everything she has going on and spend time with you.  Your travel schedule is irrelevant to a prospect if you have failed to catch his imagination in the first place.

6. Trying to say too much

If you only have 20 seconds to leave a voicemail, you only have time for one idea.  If you have more than one burning thing you want to say, save the second thing for the next voicemail.

7. Forget to leave your call-back number

One of the easiest excuses a prospect has to NOT return a voicemail message is if the call-back number is not readily available.  Only 7 percent of sales voicemails are ever returned, which means it’s hard enough to get call backs.  Don’t do anything that lowers the likelihood.

8. Being misleading

Some sales reps like to deceive prospects in their voicemails either by implying that they are returning the recipient’s call (even though the recipient never called them in the first place) or by name-dropping a person they don’t really know. You don’t want to do anything that comes back to embarrass yourself if you do end up getting a meeting.

Jeff Beals shows you how to find better prospects, close more deals and capture greater market share.  Jeff is an international award-winning author, sought-after keynote speaker, and accomplished sales consultant. A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.”

Here’s Why Should You Choose Jeff Beals as Your Next Speaker:

“Jeff Beals has presented four different topics at five of our internal events this year. At each event, the audience of commercial real estate principals and agents was completely engaged and motivated the entire time. Jeff facilitates his training sessions in such a way that each member of the audience was able to relate and understand how to apply it every day in the field. Jeff is brilliant, and we have hired him to continue speaking at our events next year!” – Lindsay Fierro, Senior Vice President, NAI Global, New York, NY

I’m in Phoenix and had breakfast earlier this morning with our semi-retired sales representative who is doing some continued work for us here.  He attended your sales meeting last week and told me that in 43 years of selling, you were the best he had ever heard.  Thanks for a great experience.” – Drew Vogel, President & CEO, Diamond Vogel Paints, Orange City, IA

“Our corporate partnership team had great takeaways regarding how to network smarter while also understanding the importance of our personal brand to current and prospective partners. Jeff does a great job weaving in real-world examples and how you can apply his teachings to growing your business and building long-term partnerships.” – Jason Booker, Senior Director of Corporate Sponsorships, The Kansas City Royals Major League Baseball Team

+1-402-637-9300

info@jeffbeals.com

The 5 Best Ways to Build Trust With Your Clients

By Jeff Beals

Here are a couple indisputable truths about today’s business environment:

  1. Sales cycles are much faster than they were 10 years ago.
  2. Buyers are distracted and under much more pressure than they were in earlier times.

Because we now operate in a frenzied selling environment, some sales professionals believe there is no longer a need to develop trust. They argue that there’s not enough time to build trusting relationships, and even when you do have time, many buyers prefer to keep their vendors at arm’s length.

I disagree.

True, sales professionals must try harder to build trust, but the end result is well worth the effort.  The good news is that you don’t have to go from not knowing someone to lifelong confidant in one setting.  Build trust a little bit at a time.  When you first meet a prospective client, get to know them, build rapport and establish a relationship.  As you get serious about doing business together, there are five ways you can develop trust.  Keep doing these things over time, and you’ll develop a close friendship with a person who will become one of your all-time best clients.

Communication

Those sales professionals who go out of their way to communicate tend to build trust quicker and more deeply with clients. Detailed and timely communication removes suspicions and reassures clients.  Tell the truth and don’t procrastinate when you need to tell prospects things they don’t want to hear.  As former U.S. Secretary of State Colin Powell once said, “Bad news isn’t wine. It doesn’t improve with age.”

Another important part of communication is to say you are sorry when appropriate. It’s amazing how much an earnest and sincere apology can boost trust.

Moment of Truth

At some point in any given relationship, you will encounter a moment of truth, a time in which you will be faced with an important decision. How you decide to act determines if you “pass” the moment of truth.  If you do pass it, you build trust.  Fail it and the relationship could be irreparably damaged.

What are some moment-of-truth examples? When it’s tempting to lie but you tell the truth.  When you have a choice to do something in your interest or your client’s interest and you choose the client’s. When you go the extra mile to help clients achieve their goals. When you screw up and do everything in your power to fix the situation.

Moments of truth are opportunities.  Embrace them as a chance to prove your trustworthiness and advance the relationship.  Every time you pass a moment of truth, no matter how small, trust becomes at least a little deeper.

Predictability

People trust other people whose behavior is predictable. If you are the type of person who responds to challenges in a consistently professional manner, you come across as trustworthy.

The best predictor of a person’s future actions is frequent past behavior. If you consistently establish frequent past behavior that is trustworthy, it will be much easier for you to be trusted in the future.

Social Proof

Robert Cialdini, the so-called “Godfather of Influence,” believes that social proof is one of the most important components of influence. You are far more likely to persuade someone’s thinking if you remember that “people follow the lead of similar others.”

Cialdini cited a study in which researchers went door-to-door collecting donations for a charity. When people answered the door, the researchers showed them a list of neighborhood residents who had already donated to the charity. The longer the donor list, the more likely prospective donors were to contribute.

In another study, New York City residents were asked to return a lost wallet to its owner. The New Yorkers were highly likely to attempt to return the wallet when they learned that another New Yorker had previously attempted to do so. But learning that someone from a foreign country had tried to return the wallet didn’t sway their decision one way or the other.

If social proof is so powerful, does it not make sense that you can more quickly build trust if respected people advocate on your behalf?  Smart sales practitioners assemble a group of past and current clients who can provide social proof and thus convey a greater sense of trustworthiness to future clients.

Rapid Responsiveness

Because all of humanity’s assembled knowledge is available on the little smart phones we carry in our pockets, people have become accustomed to getting any desired information immediately. That means we have to be ultra responsive to our prospects and current customers.  It’s no longer okay to wait 24 hours to return a message.  It must be done immediately.

Now that so much information is readily available, and people expect lightning-fast responses, you are now viewed as “untrustworthy” if you’re a slow communicator.  It’s almost people think you’re incompetent or perhaps hiding something if you take too long.  Speed is now equated with trust.

In closing, those who flourish in sales for many years endure because they put a premium on people. They build trusting relationships not just for financial gain but because it’s also the right thing to do.

Jeff Beals shows you how to find better prospects, close more deals and capture greater market share.  Jeff is an international award-winning author, sought-after keynote speaker, and accomplished sales consultant. A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.”

Here’s Why Should You Choose Jeff Beals as Your Next Speaker:

“Jeff Beals has presented four different topics at five of our internal events this year. At each event, the audience of commercial real estate principals and agents was completely engaged and motivated the entire time. Jeff facilitates his training sessions in such a way that each member of the audience was able to relate and understand how to apply it every day in the field. Jeff is brilliant, and we have hired him to continue speaking at our events next year!” – Lindsay Fierro, Senior Vice President, NAI Global, New York, NY

I’m in Phoenix and had breakfast earlier this morning with our semi-retired sales representative who is doing some continued work for us here.  He attended your sales meeting last week and told me that in 43 years of selling, you were the best he had ever heard.  Thanks for a great experience.” – Drew Vogel, President & CEO, Diamond Vogel Paints, Orange City, IA

“Our corporate partnership team had great takeaways regarding how to network smarter while also understanding the importance of our personal brand to current and prospective partners. Jeff does a great job weaving in real-world examples and how you can apply his teachings to growing your business and building long-term partnerships.” – Jason Booker, Senior Director of Corporate Sponsorships, The Kansas City Royals Major League Baseball Team

+1-402-637-9300

info@jeffbeals.com

What Is the Truth About Relationship Selling?

By Jeff Beals

For several years now, I have been hearing that “relationship selling is dead.”

In other words, people are so busy and so self-absorbed they no longer have time to build relationships with companies and organizations. People are so time-starved that they no longer are interested in becoming “friends” with salespeople or even the owners/executives of the companies with which they do business.

Today, the argument goes, people are simply too overwhelmed for relationship-based selling to be effective.

What is relationship selling? It’s the theory that customers put so much value in the positive interaction with a company or company representative, that they develop strong feelings of loyalty, which sometimes can be even more powerful than the quality of the good or service and its price.

Well, relationship selling is still quite alive, but there have been some societal changes that have affected the way we conduct relationship selling.

It used to be that salespeople were the only true experts when it came to product features and benefits. If you wanted to learn what a product could do for your business, you had to sit down with a highly trained sales rep and ask a bunch of questions. Much of the value that the salesperson provided was in the form of knowledge dispensing.

In almost every industry, customers no longer are so dependent upon a salesperson’s knowledge. The internet provides a wide array of product information and all those blunt reviews on social media can provide incredible insight into products.

All this easily available product knowledge has sped up the sales cycle and caused buyers to see products and services as mere commodities. At the same time, if you cater to big companies, you are dealing with professional buyers who are growing ever sophisticated in how they “beat up” their vendors on price.

So, if you sell things for a living, what do you do?

Remember that building relationships with clients is still important. People like to have positive and trusting relationships with the people who provide them with products and services, but you have to build the relationship in a way and at a pace that appeals to them. These days, you have to do things a little differently:

1. Value – You must constantly focus on delivering what your customers value without assuming what they value. Only the customer can decide what is valuable to them, not you. Nobody needs to be buddies with a vendor just for the sake of having more friends. First and foremost, a business needs to provide exactly what a customer wants/needs. After that, you can differentiate yourself from the competition with a positive relationship. As long as the clients are receiving what they value, the advantage goes to whichever provider can develop the most positive connection. Life is short and full of stress, so when everything else is equal, we’d rather work with people we like.

2. Teammate – Since so much product information is available before prospects even pick up the telephone or send an email, the salesperson’s job has changed. Instead of being an all-knowing information provider, successful salespeople are coaches and guides. They listen carefully to what prospective customers want and then steer them to the best choice. If you do this properly, you WILL build a relationship that will yield fruit long into the future.

3. Speed – Because the marketplace is more hyperactive than in years past, you need to move quickly. You can still build long-term relationships but you don’t have much time to get started. Prospective customers expect calls to be returned immediately. They expect answers now instead of waiting a couple days for you to get back to them. If you’re a business leader, empower your staff to provide answers as autonomously as possible. Any delay, especially early in the selling cycle, can cause the prospect to drift over to your competitor. Gone is the old standard that “you have 24 hours to return a message.”

4. Take Charge – Once you have figured out exactly what the prospect values, it’s time to take charge.  While nobody likes a pushy salesperson, buyers do look to the sales rep to be the leader.  As long as your message is consistent with what your customer values, it’s okay to plant ideas in their heads and challenge them to think differently.

Contrary to popular belief, you could argue that business relationships are even MORE valuable than they were in the past. While customers have more knowledge and options at their disposal, they’re simultaneously under more stress. The successful sales practitioner is the one who constantly delivers client value in a pleasant and stress-free manner and knows when it’s okay to push.

Jeff Beals shows you how to find better prospects, close more deals and capture greater market share.  Jeff is an international award-winning author, sought-after keynote speaker, and accomplished sales consultant. A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.”

Here’s Why Should You Choose Jeff Beals as Your Next Speaker:

“Jeff Beals has presented four different topics at five of our internal events this year. At each event, the audience of commercial real estate principals and agents was completely engaged and motivated the entire time. Jeff facilitates his training sessions in such a way that each member of the audience was able to relate and understand how to apply it every day in the field. Jeff is brilliant, and we have hired him to continue speaking at our events next year!” – Lindsay Fierro, Senior Vice President, NAI Global, New York, NY

I’m in Phoenix and had breakfast earlier this morning with our semi-retired sales representative who is doing some continued work for us here.  He attended your sales meeting last week and told me that in 43 years of selling, you were the best he had ever heard.  Thanks for a great experience.” – Drew Vogel, President & CEO, Diamond Vogel Paints, Orange City, IA

“Our corporate partnership team had great takeaways regarding how to network smarter while also understanding the importance of our personal brand to current and prospective partners. Jeff does a great job weaving in real-world examples and how you can apply his teachings to growing your business and building long-term partnerships.” – Jason Booker, Senior Director of Corporate Sponsorships, The Kansas City Royals Major League Baseball Team

+1-402-637-9300

info@jeffbeals.com

Stop Selling the Wrong Stuff!

By Jeff Beals

What do you sell?

If you answered “software” or “real estate” or “industrial machinery” or any other specific product or service, you got it all wrong.

The world’s most successful salespersons don’t sell products and services. They sell VALUE. In other words, instead of selling insurance, you’re selling security, protection and peace of mind. Instead of selling Pampered Chef products, you are selling prestige, coolness and an easier way to prepare gourmet food.

You don’t want to be paid for the job, hour, gig, order, product, presentation, contract, deal, project etc. You want to be paid for the value you bring to the client. And if you do a truly effective job of establishing value, you then can receive regular income from that client on an on-going basis. You must be seen as an investment, not an expense.

How do you go about convincing a client that you provide great value?

Delivery – Consistently deliver outstanding results. With so much competition in the world, clients have the right to assume that all providers are competent. Make sure you are more than competent in your operations.

Interpersonal Communication – You will have a hard time determining what the client values if you don’t communicate thoroughly and listen carefully.

Relationships and Trust – Do what it takes to build a strong bond with your clients.

After have figured out what they value (or care about) it is time to start talking about what you can do for them. Too many business leaders and sales representatives start spouting off the features and benefits of their products before it’s time.  When it is your turn to talk however, don’t be afraid to take charge.  Take the initiative!  Show the prospect how your solution best delivers value.  It’s okay to push the prospect a bit at this point because you know you have just the right product for them.

Remember, always focus on the client value. Determine what is most important to him or her.

Ultimately, you are not in the product- or service-selling business. You’re in the results-selling business. The right results, along with a trusting relationship are what your clients truly value.

Jeff Beals shows you how to find better prospects, close more deals and capture greater market share.  Jeff is an international award-winning author, sought-after keynote speaker, and accomplished sales consultant. A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.”

Here’s Why Should You Choose Jeff Beals as Your Next Speaker:

“Jeff Beals has presented four different topics at five of our internal events this year. At each event, the audience of commercial real estate principals and agents was completely engaged and motivated the entire time. Jeff facilitates his training sessions in such a way that each member of the audience was able to relate and understand how to apply it every day in the field. Jeff is brilliant, and we have hired him to continue speaking at our events next year!” – Lindsay Fierro, Senior Vice President, NAI Global, New York, NY

I’m in Phoenix and had breakfast earlier this morning with our semi-retired sales representative who is doing some continued work for us here.  He attended your sales meeting last week and told me that in 43 years of selling, you were the best he had ever heard.  Thanks for a great experience.” – Drew Vogel, President & CEO, Diamond Vogel Paints, Orange City, IA

“Our corporate partnership team had great takeaways regarding how to network smarter while also understanding the importance of our personal brand to current and prospective partners. Jeff does a great job weaving in real-world examples and how you can apply his teachings to growing your business and building long-term partnerships.” – Jason Booker, Senior Director of Corporate Sponsorships, The Kansas City Royals Major League Baseball Team

+1-402-637-9300

info@jeffbeals.com

Is Your Company Recruitment or Retention Focused?

By Jeff Beals

As a sales leader, you need a frank assessment of who you are and what your organization is really all about.

For instance, are you developing sales strategy for a “client-recruitment” or a “client-retention” shop? Some companies operate in industries or markets that are rich in prospective clients. Those are client-recruitment shops. Other companies exist in an environment of client scarcity. Those are client-retention shops.

Of course, you should always have a healthy respect for client retention. As the old saying goes, “It’s cheaper to keep a customer than to find a new one.” That said, some businesses have more opportunity to find and attract a steady stream of new clients. You have to know where you stand and in what arena you compete.

As you prepare your sales strategy, figure out how much of an emphasis you can place on client recruitment versus client retention. Look at your business honestly. Assess your industry, your marketplace and your standing within that marketplace.  The level of competitive pressure directly influences your sales strategy.

Financial resources can also play a role in sales strategy development. If your company is young, you might not have the sales and marketing budget to match that of your competitors.  Some sales leaders work for firms that don’t allocate “enough” resources to marketing and sales support.  In such cases, every client is precious.  You better make sure your client service level is high, because you’re not one of those companies than can count on a steady flow of clients.

If you do operate in an environment of client abundance, it doesn’t mean you can be slovenly – a sales team that is lazy and takes clients for granted.  But it does mean you can take more risks and have more bargaining power in price negotiations.

So, think about your company…Are you a “client-recruitment” company or a “retention-company.”  Adjust your plan accordingly.

Truth be told, you’re probably somewhere in the middle.  Think of it as a continuum with recruitment on one far end and retention on the other.

Jeff Beals shows you how to find better prospects, close more deals and capture greater market share.  Jeff is an international award-winning author, sought-after keynote speaker, and accomplished sales consultant. A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.”

Here’s Why Should You Choose Jeff Beals as Your Next Speaker:

“Jeff Beals has presented four different topics at five of our internal events in 2016. At each event, the audience of commercial real estate principals and agents was completely engaged and motivated the entire time. Jeff facilitates his training sessions in such a way that each member of the audience was able to relate and understand how to apply it every day in the field. Jeff is brilliant, and we have hired him to continue speaking at our events in 2017!” – Lindsay Fierro, Senior Vice President, NAI Global, New York, NY

“Your workshop was a huge experience for our attendees by giving them the opportunity to improve their work in the critical environment in which we are living today. Your talent as a speaker and your qualities as a person made the difference during your time with us. I would certainly recommend you to anyone who asks.” – Ana Paula Costa, Educational Planner, Febracorp, Sao Paulo, Brazil

I’m in Phoenix and had breakfast earlier this morning with our semi-retired sales representative who is doing some continued work for us here.  He attended your sales meeting last week and told me that in 43 years of selling, you were the best he had ever heard.  Thanks for a great experience.” – Drew Vogel, President & CEO, Diamond Vogel Paints, Orange City, IA

“Our corporate partnership team had great takeaways regarding how to network smarter while also understanding the importance of our personal brand to current and prospective partners. Jeff does a great job weaving in real-world examples and how you can apply his teachings to growing your business and building long-term partnerships.” – Jason Booker, Senior Director of Corporate Sponsorships, The Kansas City Royals Major League Baseball Team

+1-402-637-9300

info@jeffbeals.com