Tag Archive for better sales

The Formula for Gaining Trust in Sales and Negotiations

Whether you’re selling or negotiating or persuading or just trying to make friends, trust is ultimately the foundation of a solid relationship.

I learned the following powerful formula from my sales coach and friend, Steve Parry:

(C + R + I) ÷ PSI = Trust

Where:
C = credibility
R = reliability
I = intimacy
PSI =  perceived self interest

So how do you put numbers to this equation?  You don’t.  The take away lesson is that the PSI, or your perceived self interest (key word “perceived”), is what you need to watch because of the effect it has on trust.  The lower your perceived self interest (PSI), the higher the trust goes up. The higher your PSI, the lower the trust.  As you focus on helping the other person and forget about what you’re going to get, the higher your counterpart’s trust will be.

Do you have any stories where somebody didn’t trust you because you showed too much of your self interest?  Tell me about it!

4 Easy Steps to Create a Success Trap

A Proven Method That Will Help You Accomplish a Big Goal… Automatically

I have a tendency to get in the way of my own success.  However, I implemented a system that removed me – i.e. my head trash – from the process.  Now I use a system that is an autopilot. Now I coast to the end.

goal accomplishmentI’ve always hated the saying “if you don’t plan to succeed, you automatically plan to fail.”  That was so much pressure.  As if I can just sit down with a pen and some paper and plan myself to more time, money and better health!?! Well, I actually stepped out of my comfort zone and on faith implemented a method that was recommended to me by many successful people through the years and I’m happy to report that…. IT WORKS.  It’s a process that doesn’t make me have to be self disciplined (other than just initially committing to do it).  Also, it’s not limited to just one goal.  I now use this process for all the goals of my life.

1.  Determine the High Impact Situations You Need More Of

Every accomplished goal had a series of situations that happened before the end result was realized.  Most likely you know exactly what these high impact situations you need more of are.  Some examples are:

  • face to face meetings with decision makers
  • interviews
  • telephone conversations
  • referrals
  • introductions
  • high impact situations for people you manage

High impact situations involve the help of somebody else and which you can’t directly control and is usually the step right before, or very close to, the realization of the goal.  Concentrate on only a few.

2.  List the Repetitive Activities that Lead to High Impact Situations

For the job seeker, sending out resumes and filling out online job applications will lead to more interviews.  For the salesperson, activities like outbound calling and networking with centers of influence will be good things to do that will lead to more face to face meetings with decision makers, right?  Perhaps the CEO of a company who’s tasked with turning around poor sales should be consistently interviewing sales consultants, or masterminding with other CEO’s.  Whatever the high impact situations you need more of, ask yourself “what activities should I be doing consistently that will ultimately help accomplish more of those situations?”

List as many activities that would lead to high impact situations that you can think of and then pick no more than five activities that YOU can do – i.e. what you can control.  For instance, while it would be beneficial for the job seeker to have more interviews, the job seeker can’t control how many interviews he/she will get invited to.  However, the job seeker can send letters, spend 15 minutes improving the resume, or applying for jobs. Some examples might include:

  • outbound phone calls (dials)
  • networking events
  • tweets, facebook posts, linkedin introductions
  • blog posts
  • correspondence sent
  • job application

Perhaps you don’t know what the BEST activities are. That’s okay.  Don’t get hung up.  Through this process the most rewarding activities for you will surface to the top from our process of tracking results (explained below). Just get down a few.

3.  Create a Weighted Point System

If everyday I do the repetitive activities that leads to the important high-impact situations, will I not be making significant progress to accomplish my goal?  In the past, my problem was not knowing how many activities to do, and I would often not get much done, of any significance anyway.  At the very least, my lack of a system was extremely inefficient, not to mention disheartened at knowing I was not accomplishing anything.  I never knew how much work was enough. Today, my sales and marketing activities goal is to get 25 points per day and I weight and assign all of my activities according to the type of results I get.  For instance, while cold calls are proven and would be able to generate sales leads for me, I would have to make a lot more of them to equal the value of a meeting with somebody face to face.  So, now I get 5 points for meeting with somebody, and only 1 point for a dial (the act of trying to reach somebody on the phone), and 2 points for a (meaningful) phone conversation.  And when I attend a networking event – an activity I frequently found myself not doing frequently enough – I now get 4 points; a strongly weighted activity.

Look over your list of repetitive activities that leads to the important high-impact situations and assign points to those activities that would add up to 25 points.  However, make sure you’re properly balancing the scoring system so that you’re not done for the day after one phone call, and likewise, you can be done early if you’ve honestly put in a respectable amount of work.  Here is my list of my activities and their points:

  • 1 pt – review vision board
  • 1 pt – dial/tweet/fb post/email
  • 3 pts – conversation (phone, twitter, fb)
  • 5 pts – face to face meeting
  • 3 pts – call/meeting scheduled
  • 4 pts – networking event
  • 4 pts – marketing asset created (blog post/sales proposal)
  • 2 pts – give freely/help somebody

Want to earn some extra points and help balance out your life a little bit?  Put down “exercise/healthy eating” as one of your activities and give yourself some nominal points for either working out or staying on a healthy diet for that day.  Being healthy leads to the best you and you should be rewarded for it!  In my 25 per day point system I give myself 2 points.

4.  If You Track It, You’ll Do It!

So you’ve determined what activities you need to do consistently that leads to important high-impact situations.  You’ve also created a way that will help you know how much you should be doing on a daily basis to continually move your toward accomplishing your goal.  Now we have to actually get to work, which was something I’ve tended to fight. Wouldn’t it would be great if we could drink some sort of an elixir everyday that somehow made us wake up at 2 in the afternoon with all of our activities completed?  Well, I haven’t found one yet, and would be concerned for my health even if there was.  However, my tracking sheet is what I use now and is just as effective.

The tracking sheet is a one page document I print every Monday morning and put right in front of my on my desk (important).  For every activity I do I track.  When I have 25 points accumulated for the day, I’m done. The track-it sheet is merely a spreadsheet with your activities listed vertically on the left, and the day of the week across to the top.  Make it so that you can print it out on one page.

I recommend you add to the tracking mechanism “success metrics”.  Examples of my success metrics are:

  • nibble (somebody who raises their hand for my offering)
  • new opportunity
  • no/killed opportunity (yes, getting a “no” is good)
  • future call
  • referral/introduction
  • money event

The most important part is that you have your tracking mechanism in front of you at all times because you will find that you will naturally do your work without having to think about it.  So every Monday morning you should print out your “Track-It Sheet” and put it right in front of you.  Now your activities get done without having to beat yourself up!

Download My Track-It Sheet

 

If you’ve had troubles getting to a major goal because you know you aren’t focused on the activities you need to do to get you there, I recommend trying this “Success Trap”.  Let me know how it works.  How have you changed it to work better?  I’d love to hear from you!

Topics I Cover with All CEO’s

For all CEO’s, there are a number of things I try to understand about you and your business.

I have a sheet on my wall with a list of short words and phrases that reminds me not to forget going over things like: your vision, your goals, what keeps you up at night, etc. I go through my list, talking about a few of them in this video.

Social Media Marketing 101: Setting Social Media Goals (part 2: Creating Goals)

After critically assessing specific questions regarding social media goals, it is time to take action and actually create them.

learning how to use social mediaCreating tangible and realistic marketing goals can sometimes be difficult for businesses due to the nature of marketing, however this is an important step along the process of promoting your professional brand and (ultimately) closing sales.  Here are a few examples of appropriate and manageable goals that can and should be a part of your social media marketing goals:

Increased Sales

  • For business owners this is the number 1 goal for most endeavors.  Higher sales results in more money, and despite the best intentions money is important and provides more opportunities to do more business.  Digital marketing is valuable to businesses because it is so easy to monitor demographics relating to your business.  Using social media is a great and (often) low cost way to market which should result in higher sales.  Through social media marketing companies can promote products, services, discounts, deals, and more.

Increased Traffic

  • Digital commerce flourishes based on traffic.  Social media provides a strong outlet to drive traffic of relative and pertinent potential customers.  Quality content, great products, positive experiences, and more all play into the numbers game of converting online traffic into sales.  Increasing traffic to your company website should be a goal because better traffic simply results in higher conversions.

Increased Awareness

  • Brand recognition is one of the most important pieces in business, and it always has been.  With brand recognition comes customer loyalty, and in the on-line world that we live in being recognized as a credible and rational source is a powerful tool.  Brand recognition and digital identity are developed through creating strong and credible content; when people begin to recognize you and your company as top sources of information or quality product producers, sales increase.

Higher Search Rankings

  • With an ever-increasing amount of websites offering products and services that may be similar to what your business produces, it’s often a mystery of how people will actually be able to find your company website.  Social media is currently the most effective way to affect the variables in search engine algorithms.  Using social media expands your “digital real estate” which broadens the net to catch potential customers.

Monitoring “The Conversation”

  • Social media allows different interactive tools and applications to keep an eye out for what people are saying.  Companies can watch what customers are saying about products and services; companies can monitor relative conversations about relative topics to their brand and products.  Setting this as a goal allows for tracking the interactions that you have regarding conversations that are happening in real time about content that your company and expertise may assist.

Getting started in the world of social media can seem intimidating, but articulating the desired outcomes of your marketing strategy will assist in determining which social media vehicles are right for your business.

Smeester & Associates offers several solutions for social media marketing, including creating a social media marketing strategy.  Contact us for more information.

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Making Better Sales Calls For Your Business

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…

Sales: Attitude Is Everything

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.

Servers are some of the best and worst salespeopleLet’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

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

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.

Social Media Marketing 101: Blogging In Theory And Practice [5 reasons why you need to start blogging]

For social media users, blogging is the most important tool for creating relationships with your clients and customers.

Spread the good news of your business with blogging

Spread the good news of your business with blogging

1) Share who you are

With information readily available about you and your company, people naturally want to do their business with companies that have a face – the human element is returning to business. Blogging allows you a forum to share who you are with your audience. The most recognizable bloggers and social media experts all agree that blogging is about authenticity and promoting remarkable content.
For so long being professional has superseded being yourself in the business world, and now (with social media) individuals and businesses are being encouraged to let their authentic personality shine through. There is still the need to monitor the message being sent, but presenting your thoughts, beliefs, and values is an absolute must.

2) Give people a reason to come back
Keep up with your blog! Maintaining regularly generated new content gives readers an opportunity to come back. When readers come back, the relationship begins to develop; that relationship can turn into business. Posting (at least) three times per week encourages readers to “stay tuned” if they find your content to be accurate, credible, and helpful.
With tools like google reader, people can “subscribe” to your RSS (Really Simple Syndication) feed and get updates when new content is posted. This also means that you should definitely make a link on your web page to your RSS feed so that users can follow your great content.

3) Expand your digital real estate
Each blog post that you create adds another page to your digital network, and thus expands the potential sales net. The more opportunities people have actually find you, the more likely you are to naturally be found. As you create diverse content that illustrates your business, more traffic can find its way to your website.

Most blogging websites also offer SEO (Search Engine Optimization) packages. When maximizing your blogs SEO, make sure to put in appropriate keywords to your website, business, and blog topic. Organic traffic through search engines is some of the BEST traffic that sites can get.

4) Maximize your credibility
Maintaining credibility can be as difficult or as easy as you want it to be. Credibility will come through showing your audience your expertise. If you know that you are one of the best resources of information available for people – let that knowledge shine on your blog. Create a schedule of topics that you want to write about based on your existing expertise and skill set.

5) Share your passion
The primary value of blogging is in the opportunity for you, the writer, to get excited. If you are discussing relevant topics to your business, shouldn’t you naturally get excited about your passions? Letting your passion shine through will push your credibility through the roof, because people get behind and support passion and excitement.

Blogging is a critical piece of the social media marketing puzzle. Now is the time to start if you haven’t already, and to recharge your blog if you have been working on it for a while.

Social media marketing leads to sales, and sales research and development is part of what Smeester & Associates does. Contact us for more information about how to recharge your business and increase revenue.

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Prospecting Not Necessary for New Sales Hires

No more do you need to recruit salespeople who will bring “a book of business,” or “hunt,” or even “smile and dial.”

Telemarketers don't need to cold call

Due to the proliferation of social media marketing, prospecting is not as necessary.

You may have heard the phrase “cold calling is dead,” and it absolutely is (I know there is a salesperson/business owner/consultant out there rejoicing!).  Why call somebody you don’t know* if you could have a bottomless supply of people to talk to who have (technically) filled out the dream form on your website – i.e. full name, all areas of interest, decision maker, what they admit they need help with, etc.  We’re talking about leads who are asking for demonstrations and have given all the key indicators for a close.  This happens everyday for all types of companies and businesses because, leveraged correctly, Internet technologies available on the market help build a river from many small streams of people you have attracted.  Running this kind of marketing and sales system is a fraction of the cost you could pay a salesperson to “hunt”.

How to Hire Sales Stars Every Time – Free Video B1Assuming you hire salespeople correctly, if you provide the quality leads available you can scale down your sales team so it consists of nothing but closers (“coffee is for closers!”). These “closers” are people who are good at walking people through to a decision. Somebody patient. A nurturing salesperson. A listener.

Finding the right one is the only thing you have to do now.

* Yes, I did a TON of cold calling in my day
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