Tag Archive | Sales

6 New Pitches to Replace Your Elevator Pitch

The following is a summary from”To Sell is Human” by author Daniel Pink.

We are all in “Non-Sales Selling”

You don’t have to be a sales person to be in sales today.  According to Daniel Pink, everyone in an organization spend 24 minutes of every hour trying to persuade, influence, and convince others to move. He calls it non-sales selling because it does not require anyone to purchase anything but in our world, that is still considered selling.   You are simply trying to get others to move in a direction that you want them to go.  But how do you get them to move? How do you sell them on moving?

Start with the end in mind

In today’s world which is full of distractions, we get a very limited time to be in front of people to talk therefore your message has to be concise and to the point in a way that people can hear and understand simply.  Ask these three questions when you are formulating your message:

  1. What do you want them to know?
  2. What do you want them to feel?
  3. What do you want them to do?

Using these tree questions will help provide clarity to your message. Now, how do you deliver it?

Use one of these 6 different pitches for different opportunities

How may of us have been told to develop and “Elevator Pitch” at sales classes for networking events and any time we had the opportunity to tell someone what we do?  Today, we have many other opportunities to get our message out there and with all of the distractions that our audience has, we need to be concise and deliver our pitch in a way that is relative to the people we are trying to move in our direction.

  1. The One-Word Pitch is mostly used in things like political campaigns and social movements.  What is the one word that people will associate with how you are trying to move them.  Words such as “forward”, “solidarity”, “joy”, and “believe” all have meaning depending on who you are.
  2. The Question Pitch should be used when your argument is strong and making a statement might not be the best approach.  Ronald Reagan asked “Are you better off than you were four years ago?” to move people away from Jimmy Carter.  “What is the cost of not doing this?” is a personal favorite of mine since people move when they can understand how much money they could lose if they do not make necessary changes.
  3. The Rhyming Pitch is typically used to simplify how we process the information we hear.  One of the most famous rhyming pitches was used by Johnie Cochran during the OJ Simpson trial when OJ could not get the famous black glove on his hand. “If it doesn’t fit, you must acquit” became his battle cry for the closing arguments.  “Woes unites foes” works better than “woes unites enemies” and “caution and measure will bring you treasure” work better than “caution and measure brings you riches”
  4. The Subject Line Pitch can be very effective when you have to use email to try and move people.  Did you know that people and much more likely to open an email when they think they have something to lose or something to gain or the subject matter directly affects their work? Who would not open an email with the subject line:”Delivery options for dropping off your suitcase full of cash?”
  5. The Twitter Pitch is quick, painless, to the point, cuts through all the PR babble, and forces people to summarize what they want you to hear in 140 characters or less.  Be sure to make it 120 characters or less if you want it to be retweeted.
  6. The Pixar Pitch involves six sequential sentences that Pixar executives have used to move the film industry to produce such academy award winning movies such as Finding Nemo, WALL-E, The Incredibles, and Toy Story 3.  Try pitching your message in this format: Once upon a time_____________________.  Every day, _________________.  One day ________________________.  Because of that, __________________. Until finally ______________.

The elevator pitch is not dead, it has just evolved to meet the need for us to communicate efficiently and effectively to the people we are trying to move.

The 3 Types of Selling Activities That Lead to Sales Success

Great sales people are not a mystery, they are just able to commit their time to the right selling activities and best practices that the rest of us do not.  They could be rain makers for a pharmaceutical firm or they could be a start up business owner that has to sell his own product or service.  Regardless, most sales people are only able to sell 20% of their time because of the non-selling activities that they get involved in.  What would your sales look like if the non-selling activities could be delegated and more time could be committed to selling activities?  How many sales have you lost because the non-selling activities took up too much time?

Let’s take a look at the three types of selling activities and the specific selling activities that you need to start or improve upon to get the results of a great sales person.

Funnel Filling Activities: These are the activities that are going to fill your sales funnel with a higher qualified volume of potential opportunities.  Notice how these are “in-person” selling activities or will lead to other “in-person” selling activities regarding conversations about new business.

  1.  Attending networking events relevant to your potential clients and referral partners interests.
  2. Sponsoring seminars and speaking engagements that attract potential clients and referral partners.
  3. Setting appointments with potential clients that meet your ideal client profile regarding their needs.
  4. Setting appointments with referral partners to help target opportunities to work together.
  5. Meeting with current clients to further understand their business and where you can add value.
  6. Always helping others grow their networks or improving their business when you have the ability and time to do so.

Funnel Accelerating Activities: These are the activities that are going to move your potential opportunities through your sales funnel to become a client and remain a client.  Notice how all of these are meant to move potential clients to a next step.

  1. Understanding who your potential client really is, what they really want, and how they buy.
  2. Presenting as a team with your technical expert to qualified potential clients.
  3. Providing your potential client with two closing options.
  4. Overcoming objections and put-offs that arise unexpectedly.
  5. Giving your potential client all of the information they need regarding integration and delivery.
  6. Making sure that everyone in the organization understands the potential client’s expectations and what their role will be in the integration and delivery phase.

Focusing Activities:  These are the activities that will improve yourself and help you keep your time and energy focused on the Funnel filling and funnel accelerating activities listed above.

  1. Making sure you have a plan for what you are attending, who you are meeting with, and who you are talking to about new business for next week before you leave this week.
  2. Making sure all of relevant customer information is updated in your CRM where others can find it when they need it.
  3. Delegating non-selling activities to the proper support people so you can stay focused on the selling activities.
  4. Taking time to grow your knowledge about business success and industry innovations.
  5. Taking time to grow your skills, capabilities, and belief in yourself.
  6. Unplug once in a while to focus on your personal life.

Notice how nothing has been said about Process and Systems.  That is because I am assuming that you have defined processes and systems in place for you,  your sales people, and your support functions to focus on the right activities for the duties assigned.  Considering that every minute you spend in the non-selling activities is a potential lost opportunity or even potential lost revenue, how much more do you have to lose before you start to integrate some of the right selling activities into your daily and weekly routine?

Please feel free to contact me if you need help on where and how to integrate any of these activities to help you become a great sales person.

7 Sales Metrics and 7 Questions You Should Utilize for Sales Growth and Sales Coaching

In a recent seminar about “Building a Sales Management Function” that I was honored to facilitate, we talked about what metrics matter to an organization that wants to be forward thinking and use leading indicators instead of the traditional “Postmortem” metrics that most companies use.  Looking backwards is fine if you are alright with using your rear view mirror to drive forwards, but companies that are focused on sales growth should be using a different set of Metrics.  These seven metrics are both useful for production and for a sales management function to identify coaching opportunities for better sales performance.

These seven sales metrics are key to effective sales management for organizations focused on growth:

1.    #of  Face-to-face meetings with “new qualified targets” (not prospects or leads) regarding new opportunities
2.    # of two-way phone or email conversations with “new qualified targets” regarding new opportunities
3.    # of Face-to face meetings with existing clients regarding new opportunities
4.    # of two-way phone or email conversations with existing clients regarding new opportunities
5.    Amount of new opportunities added to their sales funnel
6.    The # of actions that moved existing opportunities through their sales funnel
7.    The amount of new business that closed from their sales funnel

These seven sales metrics will help identify how effective a sales rep is at both finding new business (volume) and moving business through the sales funnel (velocity).  These seven sales metrics will also provide your sales management function with the information and business intelligence they need to coach your sales rep for better performance once you bench-mark them.

What questions would you ask as a sales manager to coach your sales reps once you have bench-marked these sales metrics?

1.    How can we increase the average value of the new opportunities you find in new clients and existing clients?
2.    How could we decrease the length of sale from 6 months to four months?
3.    How can we increase the amount of opportunities in existing clients?
4.    What else do you need to help add volume to your sales funnel?
5.    What are the objections you are getting from clients and how are you navigating them?
6.    What do you need to do differently next week to get better results?
7.    How can I help?

You cannot manage want you do not measure and what you measure gets done, so what are you measuring and what else do you need to start measuring? A good sales management function will help their sales reps put money in their pockets so everyone is happy.   I guarantee your sales reps want to know the measuring stick and know that someone wants to help them.

Please feel free to contact me if you need help identifying what sales metrics makes sense for you to measure for growing sales and how you can start using them to improve your sales performance.

10 Reasons your sales effort is complacent

Do any of these sound familiar to you?

  1. You do not have regular sales meetings.
  2. A member of your team quit and you have no CRM to access account information.
  3. You spend less than 60% of your time with customers.
  4. 20% of your selling efforts accounts for 80% of your sales.
  5. You recently lost sales because you did nothing.
  6. Your sales cycle is longer than last year.
  7. Your customers are buying less.
  8. Less than 25% of your sales come from new customers.
  9. You have seen less than 4 customers and prospects in the last week.
  10. You do not subscribe to any sales blogs or read any books on new ways of doing things.

If more than 3 of these reflect your organization’s selling function, you may want to consider making some changes to your selling processes, changes to your structure, changes to your compensation plan, and investing in some training.

Why can’t I close sales faster?

With sales cycles getting longer, understanding the problems you are faced with will help you change the way you sell for faster sales.

1.  Your sales process is not aligned with your prospect’s buying process.   Most companies design their sales process on how they sell to the market without regard to how the market buys from them.  If you start to think as a buyer, you would be able to identify potential obstacles earlier in the sale and develop solutions around them.

2.  You do not follow your process.  When you do not follow all of the steps when building a model or replacing your brake pads?  What if pilots and surgeons ignored their processes and checklists?  Experts say that it takes 10,000 hours to master your profession, so until then you should probably follow the steps.

3.  You have not created a sense of urgency by discussing “risk” with the buyer.  The best question you can ask if you feel an objection to your solution: “What is the cost of not doing this?”  If you can you’re your prospect that the rewards outweigh the risks, you will help them say “yes” faster.

What steps should you take to correct these problems?

1.  Define how your customer buys.  If you ask “What would you like to see from me to help you make your decision”, you will save a lot of time trying to figure out what they want.

2.  Have a goal for each and every sales call.   When you understand all of the stages a prospect goes through in their buying process, you can identify milestones that need to be met for the prospect to reach the next stage.  What needs to happen in your next call or meeting to make that happen to keep the sale moving?

3.  Talk about rewards with your prospects. Companies are always concerned with committing funds to something that is not necessarily tangible.  Help your prospect understand the opportunity costs of not saying “yes”.

By aligning the way you sell to the way your prospects buy, following a repeatable process, and helping the prospect see the rewards of saying yes, you will close sales faster.

How leading indicators can help keep your eyes on the prize

During my spare time while traveling for a project with a major Midwest manufacturer, I decided to summarize a take away I had from reading “The Four Disciplines of Execution”.1 The book is very relevant for any of us who have started major initiatives in our organizations only to watch them be stifled by competing priorities or as I call it, “the tyranny of the urgent”. These are daily need-to-do activities and organizational fire fighting that makes us wonder what we actually accomplished and did all day.

After an organization determines a relevant business goal they want to achieve and target date for completion, they traditionally measure their progress through what the book calls “Lagging Indicators”.  These lagging Indicators are reflective of the goals that we traditionally set quarterly or annually such as:

  • Increase sales from $500K to $625K by 2015.
  • Increase the number of dealers from 10 to 15 by 2013.
  • Reduce cost of sales by 10% by Q3.
  • Increase average selling price per transaction by 5% by March
  • Increase our market share by 10% by 2014.

Sound familiar?  If achieved, any of these are all good indicators of success, but when does and organization traditionally look at the results? Most of them only look at their progress a few days before the target completion date.  This can produce only one of two possible results: a sense of jubilation and desire to celebrate, or a instantaneous increase in your pucker factor that now has you worrying about your year, your career, and the future of your organization.  Using these lagging indicators to measure success at the end of a target date is about as useful as looking in your vehicles rear view mirror to navigate in a forward direction.

What if you could measure your progress along the entire way toward your target date?
What if you were able to change your game plan at half time instead of the two-minute warning?  What if everyone in the company knew could measure results on a weekly basis?
What do you have to start measuring to be able to do that?

The book introduces the development and use of “Leading Indicators”.  Leading indicators measure the achievement of specific activities and activity levels that are necessary for you to achieve your goal.  These can be as simple as:

  • Meet with 10 new qualified targets per week.
  • Present to 4 qualified prospects per week.
  • Up sell 10 clients per week.
  • Mail 100 new information packets to targets per month..
  • Complete 3 field assessments per month.
  • Participate in 2 trade shows per quarter

All of these leading indicators can be reverse engineered from looking at your past successes and determining what activities helped you get there.  For example, if your goal (lag indicator) is to sell $100K of materials in 10 months to new clients, your average client is worth $10K, 50% of the prospects let you send them a quote, and you closing ratio is 10%, then you will have to talk to 200 prospects and propose to 100 of them to reach your goals.  Breaking down these activities into leading indicators determines that you need to talk to 20 new prospects and propose to 10 of them every month or even talk to five prospects a week and propose to 2.5 of them on average. Your goal of $100K in new revenue in 10 months does not seem all that hard to achieve know what you have to do each week in the midst of the tyranny of the urgent.

The last words of advice from the book are to develop and maintain a public score card that helps everyone in the organization understand how they are meeting their leading indicators and progressing towards their goals on a weekly/monthly basis.  Read here to understand the benefits of keeping score properly to drive accountability in your organization or contact SalesTechnik  should you like help developing relevant leading indicators to help you achieve your goals.

1. The Four Disciplines of Execution: McChesney, Covey, and Huling, Free Press 2012
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Everyone Has a Part in Creating Opportunities for Their Organization

It has become quite apparent lately that employees in non-traditional selling roles are being asked to help create more opportunities for their organizations.  Attorneys, specialized consultants, sales support personnel, engineers, bankers, and traditional account managers, executive directors, and even board members are all attending meetings and being given new “selling” tasks…usually with a reply like “If I wanted to be in sales, I would have applied for it!”

Downsizing, budgets cuts, shrinking margins, shrinking markets, and changes in client buying behavior, and increased costs are finally leading organizations to realize that they have to pick up the phone, they have to go knock on doors, and they have to go out and build relationships in the community…..and guess what, there is no budget to hire someone specifically for “sales”.

Sales is not a dirty word

The stereotypical image of a used-car salesman is that he is a pushy, arrogant, egotistical deal maker, and a bad dresser, to boot. Good sales experts are just the opposite of this clumsy, thoughtless, ugly stereotype. Think of a time when you left a selling interaction and thought to yourself, “That was a really good salesperson.” The positive attributes are universal:

•           They listened

•           Asked good questions

•           Cared about me

•           Gave me options to think about

•           Was interested and genuine

Are these not the traits that we would all like to have and be known for?

Selling is not winning a deal at any cost, it’s being realistic

Selling is about doing what is best for the customer. It is always about creating measurable business results for the client. If you can’t help your clients with their business, you shouldn’t be doing business with them. Be willing to walk away from situations that aren’t right, and when you may not be the right fit for the client be willing to offer a referral to someone who has the expertise you don’t.

Sales success is about building and leveraging your relationships

You know lots of people from many different areas of your life. Consider your community groups, hobbies, volunteer organizations, sports, service providers, family, neighbors, and friends. The list goes on and on. Companies are asking you to leverage these relationships by finding out who these people know, what their network is, and who they might know that would be interested in what your company does.

You’re not asking your contacts to do business with you. You want to know whom they know and how and when they can refer you to opportunities in the market place.  People are actually very delighted to help when they are asked.

Do not look at it as “selling”, look at it as creating opportunities

Several clients tell me they don’t “sell”, and we can’t use the word “sales” in our discussions. I agree! Look at it as creating opportunities for the organization that were not there before and you are accomplishing that by simply talking to people you know about what you do.  Good salespeople are authentic and genuine and when you are sincere, care about your clients, and ask your contacts who they know, you are helping your organization grow.

Are you willing to help your organization grow?