Revenue Engineering
Business Development
Twitter Terms: A Few Quick Explanations For New Twitter Users
May 27th
Like any social scene, there are rules to properly behaving in the social media world. For many new to Twitter, discovering these rules as well as understanding the cultural vernacular can be challenging.
The DM (Direct Message)
Direct Messaging is just what the title implies; it is a private message between users only viewable between the sender and receiver. DMs are increasingly worthless due to automated responses from users to their following. Unfortunately many DMs are lost as their intended target may get hundreds of self-promoting plug messages each day.
The RT (ReTweet)
ReTweeting is an opportunity for users to promote good content from another Twitter user to one’s own following. The RT is a prime example of how social media is GOOD for business, and allows word of mouth advertising to shoot through the roof. Now, this does not mean that users should continuously shout their promotional plugs into the either and hope that somebody RTs; rather it’s a way to support remarkable content – if your content is remarkable… inevitably it should catch on.
The @Response
With countless users engaging in “auto-responding” DMs, the @response is the new form of direct Twitter communication. One can @respond somebody by simply typing @[username] and then the message – for example tweeting: “@garyvee you rock and I loved your book!” @Responses are public, and this should be taken into consideration when communicating through them, which means your following will be able to see with whom you are interacting and how those interactions take place.
The # (Hash Tag)
Hash tags are used to promote a public conversation; if several people are discussing the same topic and users want to follow a specific topic rather than individual users, then hash tags are the way to go. To start a conversation or get involved users must simply include #[onewordsubject] – for example “#oilspill” is a common topic for May, 2010 – my thoughts on the topic will be promoted in the existing discussion stream with a tweet like this: “Ugh… I wish we could do more about the #oilspill in the Gulf right now.”
The #FF (Follow Friday)
Somewhere along the Twitter historical time-line, somebody start using Fridays as an opportunity to promote other users to their following. It is not mandatory, but seems to be reasonable etiquette. Users can effectively do this by personalizing the tweet as something like, “Hope everybody has a great #FF! Check out @garyvee, @chrisbrogan, @scottsmeester and @thesullybear they are helpful”
Image Credit
Practice Going Deep
May 24th
One half of the equation is how much content you pour into the stream, the other is how deep it goes.
Don’t Let Conversations Die
Too often I’ve allowed the depth of a Facebook or Twitter conversation thread to go only one level deep. I love it when a thread gets active and two different people in my life converse in some way. In the Facebook thread below, it turned into a conversation about whether or not there are Field Day’s in other states (comment below if your state has or hasn’t). Just one more comment can keep the thread going, and shouldn’t we foster and grow relationships we already have?
Sales Recruiters: Over-Priced and Under-Effective
May 18th
The industry standard of recruiting effective and useful sales people is, staggeringly, only 20% successful.
Thousands of American companies use recruitment agencies to fill their sales positions every year. Many of these companies utilize recruitment services based on desire to outsource a time consuming process and to (ideally) fill their sales force with better performing individuals; too often, ‘professional’ recruiters overcharge for their services and place inadequate individuals in to positions. Here are some thoughts to consider about using recruiters:
- Sales recruiters have been known to charge up to 25% of the salespersons first year’s salary. Often there is also a retainer fee.
- Recruiters usually only improve the success rate by an additional 10%.
- Recruiters are often simply resume filters looking for specific things in potential hires.
- Even when recruiters find somebody with a proven sales history in a specific market, there is no guarantee that the individual will continue to produce with the same quality due to variables in one’s life.
Ultimately, companies that use recruiters should consider some information before they finalize this experience. Buying a sales recruiter can be an expensive undertaking; consider if the potential cost corresponds with the value of your time to do it yourself. Hiring good salespeople requires an effective system that covers the entire recruitment process: position assessment, accurate and effective promotion of the position, candidate review and screening, pre-interview screening, and clear interview questions that relate to the position specifically. Hiring high quality and effective salespeople can be done. Companies can do it themselves and do it well, as long as they invest resources in to recruiting the right way. Smeester and Associates offers assistance and resources in cultivating businesses’ recruitment processes; here is some free information from “How to Hire Sales Stars”.
Note to Self: Concentrate on Value and Sales Will Take Care of Itself
May 13th
Don’t invest any time thinking and worrying whether your efforts will sell and/or pay off. Instead, concentrate on adding value and it won’t matter.
Note to Self: Concentrate on Value and Sales Will Take Care of Itself from Scott Smeester on Vimeo.
Making Better Sales Calls For Your Business
May 10th
I can’t remember my last evening at home that I didn’t get a solicitor calling; all-too-often they are absolutely terrible at selling to me.
Sales calls don’t have to be a miserable experience for both parties. By assessing some of the worst parts to most sales call scenarios, you can review your company’s approach and increase the likelihood of closing deals. Here are a few imperative things to remember for your sales force…
Read More…
Social Media Marketing 101: Make The Most of Meetup.com
May 6th
“Ugh. I don’t want to join another online community…”
Hello - My Name Is: SUCCESS
In the age of social media, there are so many options for how people can interact digitally. Sometimes it can be frustrating to determine which web-based services will be right for you and your business with so many possibilities. Without a doubt, Meetup.com is something that everybody can and should use. Meetup is exceptional in the online world because it is absolutely about face to face human interaction and providing a forum for real people to connect.
Here are a few ideas for how to utilize Meetup.com to increase sales and business:
Networking
Do a search for your city (25 mile radius) with the word ‘business.’ If you live in a reasonably populated area, you should be finding at least a few business related groups of actual people (example: 394 groups have tagged themselves with ‘business’ in the Denver, CO area). Use these groups as an opportunity to get to know other business owners, professionals, and people of similar interests in your community.
Even though commerce is becoming increasingly more digital, face to face interaction and business will never go away. Meetup.com provides a new way to connect with other businesses and that, in-and-of-itself, is an incredibly valuable tool.
Sponsoring
With 180,000 “meetups” happening every month, many need places to gather. Businesses that have meeting spaces (offices with conference rooms, restaurants, etc.) would be wise to offer manageably sized groups a place to gather. Restaurants and bars would be especially wise to offer a discount to group members during the time of their meeting. It has been said that 50% of each deal is ‘showing up,’ and this is a fine opportunity to get people to ‘show up’ at your place of business.
Meetup.com does charge to start and maintain a meetup group, but it is under $20.00 a month. Companies would be wise to pick up the bill for a group once in a while in exchange for recognition and promotion. This is a small investment with a great opportunity for some ROI.
Community Involvement
Several of the available groups focus around community service, spirituality, and other non-business topics. Any good PR person knows that active involvement with the greater community is an important part of business and recognition. Selecting one or more group that focuses on other things than business is a good move to develop personally and ‘get your name out’.
Shameless Self-promotion
If your business is B2C, then it you should be looking for groups in a related focus to your product. This may take some creativity, but it is an awesome idea. Here are a few examples:
- Carpet cleaning companies should look at pet owner groups.
- Companies that sell fabric, sewing supplies, arts and crafts stuff, etc. should be looking at craft-centric groups like quilting, painting, artisans, etc.
- Restaurants would be wise to look at ‘singles’ groups.
Reaching out to groups of people that have relatable business is the first step. Following through, offering discounts, interacting, and promoting are the completion.
Start your own group
For less than $20.00 per month you can start your own group. Meetup.com can work with your Facebook account to promote groups and events; it can also send out emails to your address book. Creating a group would be a wiser choice for people already using the service but are not finding their specific audience or niche.
Read more information about Meetup.com demographics and how to start using it.
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Sales: Attitude Is Everything
May 5th
Everybody has bad days, but when it is selling time you must put your “game face” on and commit to providing your customers and clients with the very best experience possible.
Selling in today’s market is a completely different than any other time in world history, but some things never change. Maintaining a positive and active attitude can make a world of difference in the way that you do business and how people respond to you. Professionalism, positivity, and individuality are three of things that must be present at every interaction that could result in making a sale.
Let’s put this into perspective: You are at a restaurant, and your server is less than desirable. Their greeting is lack-luster, they don’t check back with you, they don’t offer dessert, and they treat you like a burden. Are you going to tip very much? Are you going to be in any hurry to come back to the restaurant? Now, think of the same restaurant, except with a great server that performs wonderfully and appreciates you and your business. Likely, the tip will increase and you might even tell your friends about what a good experience you had there.
Restaurants and servers are a great micro-view to how greater sales fundamentally work. Providing a good experience, great customer service, and a positive attitude make a difference in the likelihood of closing big sales. The experience of the customer is often just as important as the product itself.
Common Problems with Sales Teams
Apr 29th
If you knew what was wrong, would you
be able to fix it? I’ll bet YOU can!
True of False…
- Your salespeople are capable of selling our products/services at higher margins.
- Not sure how to get my salespeople to sell at higher margins.
- Not doing a good job of competing against the industry giants.
- Not consistently hiring salespeople that can (and will) sell.
- Salespeople aren’t doing the necessary activities to succeed.
- A low percentage of hires actually become sales stars.
- I don’t really have a consistent methodology of recruiting.
- My salespeople don’t close enough business to justify their base salary.
- If my top salesperson resigned, not sure how to replace him/her.
- I don’t know how much it costs to keep non-producers on staff.
- Not sure the cost of hiring a salesperson and getting them up to speed.
- Don’t know how much ex-non-producers are devaluing my company.
- Don’t know how much it costs for each sales call.
- Don’t know each salesperson’s individual weakness.
- Not getting enough quality leads to my salespeople.
- If I had a 90% chance of hiring a star, I would do it.
- No using social networking to benefit my company.
- Our salespeople “wing” it, not following a consistent, reliable sales system.
Smeester International specializes in recruiting and hiring sales teams. For help with your sales team expansion and/or performance issues, go to their site.
Note to Self: Leverage Telemarketing Calls
Apr 28th
Scott, don’t forget that you can practice your listening and questioning skills – i.e. become a better salesperson – by actually doing something as simple as receiving those telemarketing calls and talking to the salesperson.
Note to Self: Use Telemarketing Calls to Practice Sales Skills from Scott Smeester on Vimeo.
Less Than 10 Minutes To Change The Way You Do Business!
Apr 27th
Staying informed has evolved beyond the daily newspaper. Finding and following (at least) 2 legitimate blogs can make substantial changes to the way you view and do business.
Blogs are the new news articles; it is a fact. Newspaper circulation is down, and blog reading is up. Blogs allow authors to interject opinion, philosophy, feelings, and more into their text, while promoting ideas, practices, and news. With RSS (Really Simple Syndication) feeds and programs like google/reader, it is easier now to “subscribe” to great content that is almost always free.
In 10 minutes, most readers will be able to “scan” at least four blog posts or actually read two. Following (at least) five people that regularly create remarkable content can keep you informed about trending business topics, new technologies, and more. If you haven’t yet, then you should start right now. Start a google account, utilize reader, and find some remarkable content.
Fun-facts about blog reading
50% of Americans can read 110 words per minute
The average blog reader spends 96 seconds “reading” a blog post.
53% of blogs are 100-249 words
Most readers will only read 176 words of a blog
A few great blogs that we like
Toilet Paper Entrepreneur
Michael Michalowicz has a great approach! He is fun, entertaining, and (most importantly) right on!
Seth Godin
Seth Godin’s blog was ranked the best business blog of 2009. His content is consistently remarkable and it challenges his audience to do business better.
Business Week – Small Business
Businessweek is one of the most read and identified magazines in the business world. The small business section offers regular articles about creating and cultivating your successful business.
Tech Crunch
This website can keep you posted in technology, digital trends, and what is the next big thing.
INC Magazine
INC utilizes several authors to keep a steady stream of remarkable content – expect several good pieces per day.
FADS (Fight Against Destructive Spin)
We just “stumbled” on to this a few weeks ago, and it constantly impresses with useful and helpful information.
