by Ron LaVine
Recently I was researching a prospect before I planned to call them. I had been given a referral however before calling them; I want to do my homework first. First, I realized that at least five or more of my current clients were direct or indirect competitors. This meant this prospect fit perfectly in my target market and therefore was worth the time spent doing an in depth analysis of their operations.
When conducting my pre-call planning, I always start out in the career section. This tells often me what types skills sets are required of people they are looking for and the type of sales training in use. In this case, they were looking for salespeople with cold calling and prospecting skills.
A good start so far. This description also told me what type of sales training they were currently using. Knowing this information, I planned an augmentation strategy rather than a replacement one. Often it is easier to augment a current solution than to try to replace it initially.
Next I went and read the annual report. Since they are publicly traded, I used the link http://finance.yahoo.com/ combined with their ticker symbol in the Yahoo Finance section which led to a detailed financial overview of the company, their industry and their competitors.
I learned when was the end of their fiscal year which would help me by knowing when they would start planning and budgeting for next year. In this case it was June 30 so beginning my process in March turned out to be good timing.
I read exactly what their strategy was for gaining new business. I learned that in addition to going after their existing customer base, they had set aggressive goals for penetrating Global 3000 enterprises. The report also told me that the quarterly revenue growth was in the low single digits differential in sales from last year to this year was in the single digits and the quarterly earnings were negative.
This meant there was plenty of room for improvement and that their current sales training might not be working as effectively as planned. I also looked at the amount they were spending on Selling, General and Administrative which is where typically the sales training budget comes from. I noticed that it was increasing which meant they were adding salespeople or at least spending more money in the area of sales.
Finally I looked at their competition and noticed that two out of the five major direct competitors were already clients of mine. This fact would make it much easier for me to establish credibility and interest since I was fairly sure they were interested in how their competition was being trained.
Next I went over to Edgar http://www.sec.gov/edgar.shtml to read their annual report or 10K. After studying the annual report's Management's Discussion and Analysis of Financial Conditions and Results of Operations which laid out:
* Business Overview,
* Industry Background,
* Business Imperatives,
* Strategy (plus the key elements of the strategy),
* Product Descriptions,
* Sales and Marketing (including the number of quota carrying salespeople),
* Description of the Competition
Since I teach live cold calling sales training which involves getting your foot in the door into new organizations, the strategy of increased focus and penetration of key markets was of particular interest to me.
After reading the Annual Report, I went over to their web site and began to read the About the Company section. Not only was a clear and concise two sentence description of what the company did, I also learned that their core differentiators or values were innovation and customer focus.
Although I target VP of Sales, it was in the Executive Management section of their site that I learned that the Chief Marketing Officer was actually responsible for direct response and telemarketing around the world. I also learned that this person worked for one of my clients.
This meant I could leverage one of my client relationships as a means to build credibility with the person who was responsible for sales training or who would know who the person was I needed to speak with.
Leaving no stone unturned, I also read the Senior VP of Worldwide Field Operations (which in this case also stood for VP of Sales). He was responsible for field marketing, direct sales, channel management, strategic alliances and consulting services. This meant he too, maybe a prospect for sales training. I also noticed he worked for a client of mine so I planned to leverage that relationship in the same way as with the CMO.
A search on "@companyname.com" led me to some people who were producing the Users Conference for the company. A quick phone call to one of them led to permission to send her an email which she would forward to the person who was in charge of field marketing and also in charge of sales training. She spelled out the person's name, provided the title, ext and email. When this was all done, I sent off my first email which was followed by a call to be sure it was received.
The whole point of this pre-call planning is to show how important it is to know your prospects BEFORE you begin your approach. I'd say this whole process took no more than 10 to 15 minutes and if this deals closes which I believe it will (although the sales cycle maybe a long one) that time invested may mean thousands and thousands of dollars in revenue.
Your assignment is to choose 10 key target accounts and conduct this type of research before you make your initial call. I think you'll find this approach will help you not only sound intelligent when speaking with your prospects; it will also help you sell more in less time than before.
REPRINT PERMISSION
Ron LaVine, MBA is president and founder of Accelerated Sales Training, Inc., a sales training firm located in Oak Park, CA. You can get a special report “41 sales Tips You Can Use Right Now” AND the free bimonthly Sales Tips for Selling Success eZine all by signing up at http://www.telesales-sales-training.com. If you would like information on Live Cold Calling Sales Training please call Ron at 818-991-6487 PST. ©2011 by Accelerated Sales Training, Inc.
Showing posts with label telesales. Show all posts
Showing posts with label telesales. Show all posts
Monday, January 24, 2011
Sunday, November 14, 2010
ANSWER BASED QUESTIONING
By Ron S. La Vine
President of Accelerated Sales Training Training, Inc.
Have you ever begun to think to yourself while you are on the phone speaking with a prospect, “What am I going to say next?”
Try this approach. Base your next question upon their answer. First, listening to what someone is saying (especially a prospect) is the polite thing to do. Secondly, this strategy will enable you to keep your mind focused upon what the other person is saying rather than trying to think ahead as to what you are going to say next.
The idea is to have a conversation like you would when you are speaking with a friend. In fact, friendship and rapport are what you are trying to achieve.
Example:
Prospect: “We love our database management system.”
Sales Rep: “What do you like about it?” (Said with genuine interest)
Prospect: “It has quick access time to our data.”
Sales Rep: “I’d like to see if I can help you. How does the access time to your data compare to the accuracy of the data being requested and received?”
In the example, “We love our database management system” provides the basis for the next question “What do you like about it?” “It has quick access time to our data” provides the basis for the next question “How does the access time to your data compare to the accuracy of the data being requested and received?”
Have you ever given a friend advice on a specific product or service that they plan to buy? What happened? Did you try to force your friend to buy it? Probably not. Why?
People do not want to be forced into what to buy and spewing forth a bunch of features hoping something you say will stick is not selling. In other words, people do not like to be sold they like to buy. Our job is to listen and find out what people want and value so we can help them buy the way they want to buy.
I will never forget an experience in class once when I was trying to coach someone who would not read my notes or listen to the prospect. The person on the other end said, “This how we buy. You send me three packets of information and I will meet with my two managers to determine when and if we should meet.
What did the rep proceed to do? “Why don’t I drop by and deliver it to you personally?” This rep was determined to get what he wanted which was a face-to-face appointment. Mr. Prospect replied, “Maybe you didn’t hear me. Send over three packages of information for review first and then we can set up a meeting.”
Again, the rep repeated, “I’ll be in the area on Monday, why don’t I drop by and give you the packets?” By this time, you can picture the steam coming out of the prospect’s ears over the phone. He said, “Either you send me the three packages of information for my managers and I to review or we don’t do business”.
At this point, it began to sink in. This is how Mr. Prospect buys. After we hung up, I asked him why you kept asking to stop by. His response was I wanted to meet him and hand the information to him personally. Apparently, he was not listening to what was being said. Instead, he was concentrating on his agenda, which was to get an appointment at any cost. Well it may have cost him the sale.
Do you remember when you had a great buying experience? I will bet you dollars to donuts that you raved about it to your friends. You probably talked about what you really enjoyed most when using that product or service or what you liked about the person who helped you buy it and then recommend your friends go see this person when they needed the products she offered.
Think for a moment or two on how you go about buying things. How do you want people to treat you? What qualities do you like in a salesperson and which qualities aggravate you?
What is the experience you think of, when you enjoyed buying a specific product or service? Remember that people do not like to be sold, they like to buy. Again, our job is to listen and find out what people want and value so we can help them buy the way they want to buy which may not necessarily be the way we want to sell. A great salesperson’s job is to deliver great sales experiences by asking questions, listening and creating a two-way conversation, not a one-way monologue.
REPRINT PERMISSION
Ron LaVine, MBA is president and founder of Accelerated Sales Training, Inc., a live cold call training firm located in Oak Park, CA. You can get a special report “41 sales Tips You Can Use Right Now” AND the free bimonthly Sales Tips for Selling Success eZine all by signing up at http://www.ast-incorp.com. If you would like information on Live Cold Calling Sales Training please call Ron at 818-991-6487.
© 2010 by Accelerated Sales Training, Inc.
President of Accelerated Sales Training Training, Inc.
Have you ever begun to think to yourself while you are on the phone speaking with a prospect, “What am I going to say next?”
Try this approach. Base your next question upon their answer. First, listening to what someone is saying (especially a prospect) is the polite thing to do. Secondly, this strategy will enable you to keep your mind focused upon what the other person is saying rather than trying to think ahead as to what you are going to say next.
The idea is to have a conversation like you would when you are speaking with a friend. In fact, friendship and rapport are what you are trying to achieve.
Example:
Prospect: “We love our database management system.”
Sales Rep: “What do you like about it?” (Said with genuine interest)
Prospect: “It has quick access time to our data.”
Sales Rep: “I’d like to see if I can help you. How does the access time to your data compare to the accuracy of the data being requested and received?”
In the example, “We love our database management system” provides the basis for the next question “What do you like about it?” “It has quick access time to our data” provides the basis for the next question “How does the access time to your data compare to the accuracy of the data being requested and received?”
Have you ever given a friend advice on a specific product or service that they plan to buy? What happened? Did you try to force your friend to buy it? Probably not. Why?
People do not want to be forced into what to buy and spewing forth a bunch of features hoping something you say will stick is not selling. In other words, people do not like to be sold they like to buy. Our job is to listen and find out what people want and value so we can help them buy the way they want to buy.
I will never forget an experience in class once when I was trying to coach someone who would not read my notes or listen to the prospect. The person on the other end said, “This how we buy. You send me three packets of information and I will meet with my two managers to determine when and if we should meet.
What did the rep proceed to do? “Why don’t I drop by and deliver it to you personally?” This rep was determined to get what he wanted which was a face-to-face appointment. Mr. Prospect replied, “Maybe you didn’t hear me. Send over three packages of information for review first and then we can set up a meeting.”
Again, the rep repeated, “I’ll be in the area on Monday, why don’t I drop by and give you the packets?” By this time, you can picture the steam coming out of the prospect’s ears over the phone. He said, “Either you send me the three packages of information for my managers and I to review or we don’t do business”.
At this point, it began to sink in. This is how Mr. Prospect buys. After we hung up, I asked him why you kept asking to stop by. His response was I wanted to meet him and hand the information to him personally. Apparently, he was not listening to what was being said. Instead, he was concentrating on his agenda, which was to get an appointment at any cost. Well it may have cost him the sale.
Do you remember when you had a great buying experience? I will bet you dollars to donuts that you raved about it to your friends. You probably talked about what you really enjoyed most when using that product or service or what you liked about the person who helped you buy it and then recommend your friends go see this person when they needed the products she offered.
Think for a moment or two on how you go about buying things. How do you want people to treat you? What qualities do you like in a salesperson and which qualities aggravate you?
What is the experience you think of, when you enjoyed buying a specific product or service? Remember that people do not like to be sold, they like to buy. Again, our job is to listen and find out what people want and value so we can help them buy the way they want to buy which may not necessarily be the way we want to sell. A great salesperson’s job is to deliver great sales experiences by asking questions, listening and creating a two-way conversation, not a one-way monologue.
REPRINT PERMISSION
Ron LaVine, MBA is president and founder of Accelerated Sales Training, Inc., a live cold call training firm located in Oak Park, CA. You can get a special report “41 sales Tips You Can Use Right Now” AND the free bimonthly Sales Tips for Selling Success eZine all by signing up at http://www.ast-incorp.com. If you would like information on Live Cold Calling Sales Training please call Ron at 818-991-6487.
© 2010 by Accelerated Sales Training, Inc.
Thursday, August 19, 2010
Why is the telephone like a violin?
Imagine an orchestra playing before you. Now think what would happen if one of the violin players suddenly ignored the what the composer had written on the sheet music started playing another tune right during the middle of another piece. Or what if the violin player kept their instrument aloft and accidentally played a note or two?
What would happen? At the very least, the harmony would end. Why? The person was not paying attention or was intent on making themselves heard.
Now imagine being on the telephone having a conversation with a prospect when all of a sudden instead of listening to what is being said to you, you decide you must start talking about all the features and benefits you feel the prospect must know about your technology. Instead of continuing to listen and discuss what is important to the prospect, you interrupt thinking if only they knew how great your technology is they would buy immediately.
Let's go back to our orchestra scenario. What happens when a violinist decides to play another piece or accidentally plays a note during the middle of a piece? Similar to the disharmony they would cause, you would probably end up with something equally bad. This maybe the loss of a sale and possibly damaging any future relationship.
The telephone is similar to a violin. It is an instrument. It takes practice to learn how to derive the most benefits from using it. When you learn how to play the violin, unless you are a prodigy born with innate talent, you need to practice following what the composer has written (or in the case of a conversation, listening to what the prospect is saying without interrupting).
This can and is a real challenge for many of us. Why? We like to hear ourselves speak. We like to share all of what we know.
While on the telephone, one of the ways you can prevent this is to place a finger over your mouth reminding yourself that your job at this point is to listen and not speak. This serves four purposes.
One, it is very difficult to talk when your finger is covering your mouth.
Two, it will remind you to listen (and concentrate) more and while speaking less.
Three, you will begin to become conscious of your need to speak.
Four, you will be able to learn how to control your urge to speak.
This is a simple yet useful technique to force yourself to get in the habit of listening.
Using the telephone to make sales requires discipline. Since you cannot see the other person and therefore cannot rely upon visual signs, you must rely solely upon what you hear. Decide to listen. STOP! Stop talking on purpose.
Encourage the person to answer each question in detail by remaining silent. Remember that silence often gives the person on the other end of the line time to think about an answer to your question. If you interrupt them, you may never know what important piece of information they were going to tell you.
Allow them time to think, you will get more information that way, rather than trying to fill in the gaps of silence. Show you are listening by using statements such as "I see" or "I hear you" "Okay" "I understand what you mean" or "Right." If you overlook this step, misunderstandings can come back to haunt you later.
Have you ever watched an orchestra when a group of instruments are not playing or are not getting ready to play? What do they do? Typically they put their instruments down or away from their mouths. Why do you think they do this? Could it be so they don't accidentally play a note and ruin the piece that is being played?
Control your urge to speak and you will make more sales. Remember, the secret to listening is to be interested, not interesting.
--
Make it a great day and a successful week!
Ron S. La Vine, MBA, President
Accelerated Sales Training, Inc.'s -
Live Cold Call New Business Development Sales Training™
Helping you Break into Large Accounts™
638 Lindero Canyon Road, Suite 283
Oak Park, CA 91377
818-991-6487 Office PST
818-519-3852 Mobile
818-991-5938 Fax
mailto:rslavine@ast-incorp.com
http://www.ast-incorp.com
Complimentary Sales Tips -
http://www.ast-incorp.com.com/free.htm
Join me at LinkedIn -
http://www.linkedin.com/in/ronlavine
What would happen? At the very least, the harmony would end. Why? The person was not paying attention or was intent on making themselves heard.
Now imagine being on the telephone having a conversation with a prospect when all of a sudden instead of listening to what is being said to you, you decide you must start talking about all the features and benefits you feel the prospect must know about your technology. Instead of continuing to listen and discuss what is important to the prospect, you interrupt thinking if only they knew how great your technology is they would buy immediately.
Let's go back to our orchestra scenario. What happens when a violinist decides to play another piece or accidentally plays a note during the middle of a piece? Similar to the disharmony they would cause, you would probably end up with something equally bad. This maybe the loss of a sale and possibly damaging any future relationship.
The telephone is similar to a violin. It is an instrument. It takes practice to learn how to derive the most benefits from using it. When you learn how to play the violin, unless you are a prodigy born with innate talent, you need to practice following what the composer has written (or in the case of a conversation, listening to what the prospect is saying without interrupting).
This can and is a real challenge for many of us. Why? We like to hear ourselves speak. We like to share all of what we know.
While on the telephone, one of the ways you can prevent this is to place a finger over your mouth reminding yourself that your job at this point is to listen and not speak. This serves four purposes.
One, it is very difficult to talk when your finger is covering your mouth.
Two, it will remind you to listen (and concentrate) more and while speaking less.
Three, you will begin to become conscious of your need to speak.
Four, you will be able to learn how to control your urge to speak.
This is a simple yet useful technique to force yourself to get in the habit of listening.
Using the telephone to make sales requires discipline. Since you cannot see the other person and therefore cannot rely upon visual signs, you must rely solely upon what you hear. Decide to listen. STOP! Stop talking on purpose.
Encourage the person to answer each question in detail by remaining silent. Remember that silence often gives the person on the other end of the line time to think about an answer to your question. If you interrupt them, you may never know what important piece of information they were going to tell you.
Allow them time to think, you will get more information that way, rather than trying to fill in the gaps of silence. Show you are listening by using statements such as "I see" or "I hear you" "Okay" "I understand what you mean" or "Right." If you overlook this step, misunderstandings can come back to haunt you later.
Have you ever watched an orchestra when a group of instruments are not playing or are not getting ready to play? What do they do? Typically they put their instruments down or away from their mouths. Why do you think they do this? Could it be so they don't accidentally play a note and ruin the piece that is being played?
Control your urge to speak and you will make more sales. Remember, the secret to listening is to be interested, not interesting.
--
Make it a great day and a successful week!
Ron S. La Vine, MBA, President
Accelerated Sales Training, Inc.'s -
Live Cold Call New Business Development Sales Training™
Helping you Break into Large Accounts™
638 Lindero Canyon Road, Suite 283
Oak Park, CA 91377
818-991-6487 Office PST
818-519-3852 Mobile
818-991-5938 Fax
mailto:rslavine@ast-incorp.com
http://www.ast-incorp.com
Complimentary Sales Tips -
http://www.ast-incorp.com.com/free.htm
Join me at LinkedIn -
http://www.linkedin.com/in/ronlavine
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