By Ron LaVine
Accelerated Cold Call Training, Inc.
01. Talk too much.
02. Listen too little.
03. Ask the wrong types of questions at the wrong time.
04. Use close-ended questions instead of open-ended and vice versa.
05. Forget to ask permission to speak.
06. Talk over other people’s answers.
07. Call on the wrong people who have no authority to buy or influence the decision.
08. Speak to fast due to fear or because they feel uncomfortable.
09. Focus on their products rather than solutions.
10. Speak in a monotone or without enthusiasm or conviction.
11. Use a lot of wishy-washy words in a row like, could you possibly please, denoting a lack of confidence.
12. Don’t identify themselves, their company or what they do properly.
13. Leave their phone number only once and speak too fast.
14. Forget to spell and grammar check their writing.
15. Speak too slow sounding monotonous and boring.
16. Forget to ask for contact details (Name, Title, Email, Ext. reports to, boss’s boss and assistant.
17. Forget to set up a time and date specific action step.
18. Forget to be polite to everyone including assistants.
Seek first to understand and then be understood.
–
Make it a great day and a successful week!
Ron S. LaVine, MBA, President
Accelerated Cold Call Training, Inc.
Removing Fear from Cold Calling – Live Cold Call Training
638 Lindero Canyon Drive, Suite 283
Oak Park, CA 91377
818-991-6487 Phone
818-519-3852 Mobile
818-991-5938 Fax
http://www.coldcalltraining.com
Read over 141 recommendations here:
http://www.linkedin.com/in/ronlavine
Sunday, August 21, 2011
Tuesday, August 9, 2011
How to Get Cold Calling Intelligence
By Ron LaVine, MBA and President
Accelerated Cold Call Training, Inc.
Just collecting information is not enough. It is important to consider the impact or implications of that data. With each piece of information, ask yourself "What does this mean? What would happen if this action took place?" For example, you heard that Organization A is going to expand. You sell computer monitors.
Consider what the expansion would entail. Perhaps they would be hiring more staff – which would probably need monitors. Your next step would be to discover when and where the expansion would take place. Then how many people they plan to hire and who is responsible for evaluating and acquiring the monitors.
Alternatively, consider the organization who is acquiring another organization. Where will the funding come from? What systems will need to be integrated for the newly formed entity? Which positions will be eliminated? How will your "champion" or the person, who wants your solution to win any competitive battle, be affected?
Think about the importance of each piece of information you have uncovered. Then think about how you can use that information in service of your prospect. Listen carefully to what people share with you. Here are some questions you can ask yourself to determine what possibilities there are for you to make a sale or even multiple sales.
Who is responsible for making the final decision? Will it be a committee or an individual?
Has budget been set aside for your type of solution or does the prospect have access to budget?
Who, if anyone, will evaluate the proposed solution?
Who will implement the solution chosen?
Who will be the end user(s) of the solution?
How does this information benefit the person who told it to me?
Has the information been verified by a second source?
How can this data enable me to sell more of my solutions?
Why does the prospect operate this way?
What is the prospect’s future strategic direction?
What would happen if the prospect went in a specific direction? What might happen?
What are the implications of this decision?
What is going on in their industry?
What are their competitors doing?
What are the top, decision-making drivers? (For example, Client Loyalty, Market Share, Profitability, Risk, Regulations, Expenses, etc.)
What challenges, problems or pains would this decision create for the prospect?
What business opportunities would these problems create for you?
If applicable, what is their framework for avoiding a tactical focus?
Where and how should they start to connect your solution to corporate strategies and objectives?
How do they balance people, processes and technology?
What is the role of management?
What are their buying processes?
What are their top priorities?
What are the different timeframes? Timing for decisions, testing and evaluation, implementation and roll out, and feedback need to be established.
What types of time and date specific action or next steps do you think you should propose? What has worked successfully in the past?
What type(s) of training, if any, will be necessary to implement and encourage the use of the solution?
What types of documentation are needed and by whom?
How will you measure the results? Return on Investment, Net Payback Period, Total Cost of Ownership or another method.
These are but a sample of questions you should be able to answer while starting and driving a sale to its conclusion. Analyzing the information you collect from different sources will allow you to turn raw data into actionable business sales intelligence.
This intelligence you collect over the phone during a cold call can be used to understand who buys, how they buy, what they are interested in buying and why they buy. The answers to these questions plus answers to the questions above should speed up the process of converting prospects into clients.
--
Make it a great day and a successful week!
Ron S. LaVine, MBA, President
Accelerated Cold Call Training, Inc.
Removing Fear from Cold Calling - Live Cold Call Training
638 Lindero Canyon Drive, Suite 283
Oak Park, CA 91377
818-991-6487 Phone
818-519-3852 Mobile
818-991-5938 Fax
http://www.coldcalltraining.com
Read over 139 recommendations here:
http://www.linkedin.com/in/ronlavine
Accelerated Cold Call Training, Inc.
Just collecting information is not enough. It is important to consider the impact or implications of that data. With each piece of information, ask yourself "What does this mean? What would happen if this action took place?" For example, you heard that Organization A is going to expand. You sell computer monitors.
Consider what the expansion would entail. Perhaps they would be hiring more staff – which would probably need monitors. Your next step would be to discover when and where the expansion would take place. Then how many people they plan to hire and who is responsible for evaluating and acquiring the monitors.
Alternatively, consider the organization who is acquiring another organization. Where will the funding come from? What systems will need to be integrated for the newly formed entity? Which positions will be eliminated? How will your "champion" or the person, who wants your solution to win any competitive battle, be affected?
Think about the importance of each piece of information you have uncovered. Then think about how you can use that information in service of your prospect. Listen carefully to what people share with you. Here are some questions you can ask yourself to determine what possibilities there are for you to make a sale or even multiple sales.
Who is responsible for making the final decision? Will it be a committee or an individual?
Has budget been set aside for your type of solution or does the prospect have access to budget?
Who, if anyone, will evaluate the proposed solution?
Who will implement the solution chosen?
Who will be the end user(s) of the solution?
How does this information benefit the person who told it to me?
Has the information been verified by a second source?
How can this data enable me to sell more of my solutions?
Why does the prospect operate this way?
What is the prospect’s future strategic direction?
What would happen if the prospect went in a specific direction? What might happen?
What are the implications of this decision?
What is going on in their industry?
What are their competitors doing?
What are the top, decision-making drivers? (For example, Client Loyalty, Market Share, Profitability, Risk, Regulations, Expenses, etc.)
What challenges, problems or pains would this decision create for the prospect?
What business opportunities would these problems create for you?
If applicable, what is their framework for avoiding a tactical focus?
Where and how should they start to connect your solution to corporate strategies and objectives?
How do they balance people, processes and technology?
What is the role of management?
What are their buying processes?
What are their top priorities?
What are the different timeframes? Timing for decisions, testing and evaluation, implementation and roll out, and feedback need to be established.
What types of time and date specific action or next steps do you think you should propose? What has worked successfully in the past?
What type(s) of training, if any, will be necessary to implement and encourage the use of the solution?
What types of documentation are needed and by whom?
How will you measure the results? Return on Investment, Net Payback Period, Total Cost of Ownership or another method.
These are but a sample of questions you should be able to answer while starting and driving a sale to its conclusion. Analyzing the information you collect from different sources will allow you to turn raw data into actionable business sales intelligence.
This intelligence you collect over the phone during a cold call can be used to understand who buys, how they buy, what they are interested in buying and why they buy. The answers to these questions plus answers to the questions above should speed up the process of converting prospects into clients.
--
Make it a great day and a successful week!
Ron S. LaVine, MBA, President
Accelerated Cold Call Training, Inc.
Removing Fear from Cold Calling - Live Cold Call Training
638 Lindero Canyon Drive, Suite 283
Oak Park, CA 91377
818-991-6487 Phone
818-519-3852 Mobile
818-991-5938 Fax
http://www.coldcalltraining.com
Read over 139 recommendations here:
http://www.linkedin.com/in/ronlavine
Sunday, July 24, 2011
ARE YOU WATCHING OUT FOR THE SOLUTION TRAP?
By Ron LaVine, MBA
President of Accelerated Cold Call Training, Inc.
It is a common trap. A solution trap that many sales reps fall victim too. Let's look at how the trap works by examining two situations.
In the first scenario, Typical Sales Rep has done some homework on the Internet by stopping by the prospect's web page, visiting LinkedIn, Jigsaw, etc. and reading about the prospect’s solution and industry.
Maybe the sales rep has gone so far as to read the prospect’s Management Analysis and Review in the annual report and study the career section to find out who is being hired and for what types of project.
By the way, these are key activities you should do before cold calling on a large organization.
Based on these observations, Typical Sales Rep begins to put together a selling plan based on what they think is best for the prospect.
Next, Typical Sales Rep walks in or calls in and makes a quick introduction. Typical Sales Rep hopes they are presenting to the right person who has the authority to buy.
Typical Sales Rep may ask a few questions but soon feels the need to present the features and benefits of their complete solution.
Usually this is a strategic overview of how other companies have used their solution rather than a specific situational view of how this prospect can use the solution to meet their specific and unique requirements.
Never mind that the sales rep has not done enough questioning to understand what is needed, the sales rep feels it is vitally important for them to rely the importance of what they have to offer.
“If our solution has worked for other companies then it will definitely work for you.”
Typical Sales Rep has just triggered the solution trap.
Once caught in the solution trap it becomes difficult to move in any other direction but forward.
Now that the Typical Sales Rep has started to present, it becomes a challenge to go backwards and ask questions about what the prospect would like to see or hear presented about their specific situation.
The Typical Sales Rep can only hope their presentation has hit a hot button and even so, the sales rep may still not have created or crafted a compelling reason to buy.
Now let's look at our second rep only let's entitle them as an Info Sales Rep.
One of the advantages of staying in what I call “information mode” is that it makes people less defensive and more willing to provide information.
People don’t like to be sold, they like to buy. Prospects don’t want to be talked to by a sales rep; they would rather speak with a salesperson who understands their specific needs.
Let’s get back to the Info Sales Rep.
They too also have visited the prospect’s web site to gain an understanding of how the prospect does business and look for clues of what types of situations are affecting the way the prospect conducts their business.
The Info Sales Rep then tailors a list of specific situational questions designed to uncover the prospect’s current and future needs, challenges, problems and pains.
Then the Info Sales Rep, once in front of the person they know has the authority to buy invests their time asking questions and listening closely to the meanings in the answer.
What the prospect says is then feedback to them to insure a clear understanding between the Info Sales Rep and the prospect.
Like the sales rep, the temptation to present a solution builds.
However, the Info Sales Rep has trained themselves to be more disciplined and ask even more questions to help the prospect agree to isolate what the challenges are and what is of importance to them, the prospect, in a solution.
The Info Sales Rep wants to know what the prospect values most in a solution BEFORE presenting their solution so they consciously avoid presenting solutions before knowing the facts.
By having asked specific situational questions and having gained agreement on what is of importance to the prospect, the Info Sales Rep now has it much easier when it comes time for the presentation of a situation specific solution.
When excellent information collecting skills are combined with a good, highly focused, "what's best for the customer presentation", then the close of a sale a.k.a. the opening of a new partnership becomes a natural conclusion.
The Info Sales Rep has mastered the art of helping the prospect to buy using direct questions based on the prospect's answer.
After all, which makes more sense? Delivering a presentation, which focuses upon the prospect’s unique situation or trying to sell to the prospect on a “one size fits all” solution?
The Lessons
Take your Typical Sales Rep hat off and put your Info Sales Rep hat on as you seek to gain understanding of how an organization does business before trying to sell anything.
You may even save your precious selling time by learning there is not even a need to sell because the prospect is not qualified for your solution.
Train yourself to resist talking about your solution too soon by being interested rather than interesting.
This informational, question based approach, will help keep the prospect’s defenses down and will encourage them to really open up about what is bothering them or what they would like to do better and why.
Avoid implying what you have to offer is more important than what the prospect needs.
There is a time to learn and a time to sell.
They are separate and when used in the proper order you will find your presentations more effective. Closing will happen more often and much easier than before.
Finally, you’ll enjoy greater selling success than ever before.
REPRINT PERMISSION
Ron LaVine, MBA is president and founder of Accelerated Cold Call Training, Inc., a cold call training firm located in Oak Park, CA. If you would like information on How to Make Successful Cold Calls – LIVE Call Training please call Ron at 818-519-3852 or visit www.coldcalltraining.com. © 2011 by Accelerated Cold Call Training, Inc.
President of Accelerated Cold Call Training, Inc.
It is a common trap. A solution trap that many sales reps fall victim too. Let's look at how the trap works by examining two situations.
In the first scenario, Typical Sales Rep has done some homework on the Internet by stopping by the prospect's web page, visiting LinkedIn, Jigsaw, etc. and reading about the prospect’s solution and industry.
Maybe the sales rep has gone so far as to read the prospect’s Management Analysis and Review in the annual report and study the career section to find out who is being hired and for what types of project.
By the way, these are key activities you should do before cold calling on a large organization.
Based on these observations, Typical Sales Rep begins to put together a selling plan based on what they think is best for the prospect.
Next, Typical Sales Rep walks in or calls in and makes a quick introduction. Typical Sales Rep hopes they are presenting to the right person who has the authority to buy.
Typical Sales Rep may ask a few questions but soon feels the need to present the features and benefits of their complete solution.
Usually this is a strategic overview of how other companies have used their solution rather than a specific situational view of how this prospect can use the solution to meet their specific and unique requirements.
Never mind that the sales rep has not done enough questioning to understand what is needed, the sales rep feels it is vitally important for them to rely the importance of what they have to offer.
“If our solution has worked for other companies then it will definitely work for you.”
Typical Sales Rep has just triggered the solution trap.
Once caught in the solution trap it becomes difficult to move in any other direction but forward.
Now that the Typical Sales Rep has started to present, it becomes a challenge to go backwards and ask questions about what the prospect would like to see or hear presented about their specific situation.
The Typical Sales Rep can only hope their presentation has hit a hot button and even so, the sales rep may still not have created or crafted a compelling reason to buy.
Now let's look at our second rep only let's entitle them as an Info Sales Rep.
One of the advantages of staying in what I call “information mode” is that it makes people less defensive and more willing to provide information.
People don’t like to be sold, they like to buy. Prospects don’t want to be talked to by a sales rep; they would rather speak with a salesperson who understands their specific needs.
Let’s get back to the Info Sales Rep.
They too also have visited the prospect’s web site to gain an understanding of how the prospect does business and look for clues of what types of situations are affecting the way the prospect conducts their business.
The Info Sales Rep then tailors a list of specific situational questions designed to uncover the prospect’s current and future needs, challenges, problems and pains.
Then the Info Sales Rep, once in front of the person they know has the authority to buy invests their time asking questions and listening closely to the meanings in the answer.
What the prospect says is then feedback to them to insure a clear understanding between the Info Sales Rep and the prospect.
Like the sales rep, the temptation to present a solution builds.
However, the Info Sales Rep has trained themselves to be more disciplined and ask even more questions to help the prospect agree to isolate what the challenges are and what is of importance to them, the prospect, in a solution.
The Info Sales Rep wants to know what the prospect values most in a solution BEFORE presenting their solution so they consciously avoid presenting solutions before knowing the facts.
By having asked specific situational questions and having gained agreement on what is of importance to the prospect, the Info Sales Rep now has it much easier when it comes time for the presentation of a situation specific solution.
When excellent information collecting skills are combined with a good, highly focused, "what's best for the customer presentation", then the close of a sale a.k.a. the opening of a new partnership becomes a natural conclusion.
The Info Sales Rep has mastered the art of helping the prospect to buy using direct questions based on the prospect's answer.
After all, which makes more sense? Delivering a presentation, which focuses upon the prospect’s unique situation or trying to sell to the prospect on a “one size fits all” solution?
The Lessons
Take your Typical Sales Rep hat off and put your Info Sales Rep hat on as you seek to gain understanding of how an organization does business before trying to sell anything.
You may even save your precious selling time by learning there is not even a need to sell because the prospect is not qualified for your solution.
Train yourself to resist talking about your solution too soon by being interested rather than interesting.
This informational, question based approach, will help keep the prospect’s defenses down and will encourage them to really open up about what is bothering them or what they would like to do better and why.
Avoid implying what you have to offer is more important than what the prospect needs.
There is a time to learn and a time to sell.
They are separate and when used in the proper order you will find your presentations more effective. Closing will happen more often and much easier than before.
Finally, you’ll enjoy greater selling success than ever before.
REPRINT PERMISSION
Ron LaVine, MBA is president and founder of Accelerated Cold Call Training, Inc., a cold call training firm located in Oak Park, CA. If you would like information on How to Make Successful Cold Calls – LIVE Call Training please call Ron at 818-519-3852 or visit www.coldcalltraining.com. © 2011 by Accelerated Cold Call Training, Inc.
Saturday, July 9, 2011
Objections and Misunderstandings
Objections and Misunderstandings
By Sam Parker of Just Sell
"One of the best ways to persuade others is with your ears-- by listening to them." -- Dean Rusk, US Secretary of State (1909-1994), served under presidents Kennedy & Johnson
We've all been taught how to handle our most common objections or misunderstandings from prospects and customers but in some cases these "objection handlers" have a defensive or an offensive tone, especially when we're in the middle of a presentation (formal or informal). Nothing can send a presentation in the wrong direction more than a misunderstanding (small or large).
Over the coming weeks (or this weekend if you can), invest some time outside the money hours in examining your planned responses to your top three objections. If you don't have anything to examine, here is another idea.
Remove anything that could potentially be misinterpreted as defensive, manipulative or borderline sarcastic or in other words, leave slick and "cute" lines to your competition.
Show appreciation for the objections in a way that validates the prospect's concerns. Work through your responses with someone outside your sales & marketing department.
Get genuine feedback, make appropriate changes and practice the delivery of your responses until you have them as tight as your opening prospecting statements.
Selling is about helping your prospects and customers solve a problem, not about winning a court case.
Think non-abrasive. Think appreciation. Think validation. Then just sell.
It's all about sales™
Justsell.com-- your sales & marketing portal™
http://www.justsell.com
(c) 1998-2002 www.justsell.com MaxPitch Media, Inc. All rights reserved. Samparker @ justsell.com.
By Sam Parker of Just Sell
"One of the best ways to persuade others is with your ears-- by listening to them." -- Dean Rusk, US Secretary of State (1909-1994), served under presidents Kennedy & Johnson
We've all been taught how to handle our most common objections or misunderstandings from prospects and customers but in some cases these "objection handlers" have a defensive or an offensive tone, especially when we're in the middle of a presentation (formal or informal). Nothing can send a presentation in the wrong direction more than a misunderstanding (small or large).
Over the coming weeks (or this weekend if you can), invest some time outside the money hours in examining your planned responses to your top three objections. If you don't have anything to examine, here is another idea.
Remove anything that could potentially be misinterpreted as defensive, manipulative or borderline sarcastic or in other words, leave slick and "cute" lines to your competition.
Show appreciation for the objections in a way that validates the prospect's concerns. Work through your responses with someone outside your sales & marketing department.
Get genuine feedback, make appropriate changes and practice the delivery of your responses until you have them as tight as your opening prospecting statements.
Selling is about helping your prospects and customers solve a problem, not about winning a court case.
Think non-abrasive. Think appreciation. Think validation. Then just sell.
It's all about sales™
Justsell.com-- your sales & marketing portal™
http://www.justsell.com
(c) 1998-2002 www.justsell.com MaxPitch Media, Inc. All rights reserved. Samparker @ justsell.com.
Sunday, June 26, 2011
A.C.R.O.N.Y.M.S in Selling
By Ron LaVine, MBA, President
Accelerated Cold Call Training, Inc.
A lot of acronyms are used in my cold call training business because it makes it easier for people to learn, remember and use key ideas. I joked once about coming up with an acronym for acronym. Maybe something like Always Call Right Officer, Now, Yet Nicely.
I use bunches of Acronyms, from Sales M.A.P. (Mutually Agreed Process) for setting up time and date specific action steps. Another example is W.H.I.I.F.M.-A.M.C. (What's In It For Me - And My Company) or what the prospect really cares about. Or C.V.M. (Call Value Maximization) which means to get the most information out of every call by being polite yet persistent. I have developed a new one called T.E.S.T.S. to help students remember the kinds of questions that will uncover needs, challenges, problems or pains.
Here's one you may want to keep in front of you.
T. is for Tell me more.
What are your biggest problems in the area of...?
What are the specifics?
How do you currently handle...?
How do you go about...?
What are you using to get ____ types of data?
What are you doing in the area of...?
What happens when ____ occurs?
Who beside yourself is affected?
E. is for Experience over time.
How long has this been a problem?
What actions have been taken to try to fix the problem?
What do you think about the results?
Have you given up?
S. is for a Sample of what it is costing them.
Give me a rough idea of how much this is costing you?
What impact is this having?
How does this affect you personally?
What happens if the problem is not fixed?
T. is for Taken action yet?
What actions have you taken to fix the problem?
How do you measure the effectiveness of these actions?
What have you done to try and fix it?
S. is for a Sample of their feelings?
How does it make you feel?
How do other people you work with feel about the problem?
These reminders make sure you don't forget to ask the types of direct specific questions to uncover the information that will help you help your prospects and customers pass their T.E.S.T.S.
REPRINT PERMISSION
Ron LaVine, MBA is president and founder of Accelerated Cold Call Training, Inc., a cold call training firm located in Oak Park, CA. If you need to develop new business and would like information on How to Make Successful Cold Calls – LIVE Call Training, call Ron at 818-519-3852 or visit www.coldcalltraining.com. © 2011 by Accelerated Cold Call Training, Inc.
Accelerated Cold Call Training, Inc.
A lot of acronyms are used in my cold call training business because it makes it easier for people to learn, remember and use key ideas. I joked once about coming up with an acronym for acronym. Maybe something like Always Call Right Officer, Now, Yet Nicely.
I use bunches of Acronyms, from Sales M.A.P. (Mutually Agreed Process) for setting up time and date specific action steps. Another example is W.H.I.I.F.M.-A.M.C. (What's In It For Me - And My Company) or what the prospect really cares about. Or C.V.M. (Call Value Maximization) which means to get the most information out of every call by being polite yet persistent. I have developed a new one called T.E.S.T.S. to help students remember the kinds of questions that will uncover needs, challenges, problems or pains.
Here's one you may want to keep in front of you.
T. is for Tell me more.
What are your biggest problems in the area of...?
What are the specifics?
How do you currently handle...?
How do you go about...?
What are you using to get ____ types of data?
What are you doing in the area of...?
What happens when ____ occurs?
Who beside yourself is affected?
E. is for Experience over time.
How long has this been a problem?
What actions have been taken to try to fix the problem?
What do you think about the results?
Have you given up?
S. is for a Sample of what it is costing them.
Give me a rough idea of how much this is costing you?
What impact is this having?
How does this affect you personally?
What happens if the problem is not fixed?
T. is for Taken action yet?
What actions have you taken to fix the problem?
How do you measure the effectiveness of these actions?
What have you done to try and fix it?
S. is for a Sample of their feelings?
How does it make you feel?
How do other people you work with feel about the problem?
These reminders make sure you don't forget to ask the types of direct specific questions to uncover the information that will help you help your prospects and customers pass their T.E.S.T.S.
REPRINT PERMISSION
Ron LaVine, MBA is president and founder of Accelerated Cold Call Training, Inc., a cold call training firm located in Oak Park, CA. If you need to develop new business and would like information on How to Make Successful Cold Calls – LIVE Call Training, call Ron at 818-519-3852 or visit www.coldcalltraining.com. © 2011 by Accelerated Cold Call Training, Inc.
Sunday, June 19, 2011
Free Resources to Turn Data Into Dollars
By Ron LaVine, MBA
President of Accelerated Cold Call Training, Inc.
Finding new business can be a snap, if you know where to look and what to do with the information you find. Using the telephone along with publicly available information, you can turn data into dollar
Understanding the importance of the "fact finding step" in the sales cycle, is key to making more sales. We need information resources to enable us to determine who is responsible for decision making, where an account is now, where they want to be and how they plan to get there.
It is easy to mishandle this part of the sales cycle in an eagerness to sell. Finding data about a shift in the way an account does business is not enough. Understanding the potential effects of the change is key to finding revenue producing events.
Show Me the Money
Look for accounts in your territory who:
* Acquire, merge or joint venture with another company,
* Have been acquired by another company,
* Add additional equipment or hardware or facilities,
* Announce a change in staffing requirements or business, practices due to expansion, restructuring or relocation,
* Receive contract awards,
* Mention cost cutting initiatives,
* Outsource certain services to concentrate on core businesses,
* Are embarking on new projects,
* Issue an IPO to raise operating capital for buying more assets,
* Spin off a division into a new company with new ownership,
* Maybe affected by pending legislation or regulations.
Turning Data into Dollars
Once a change occurs, ask yourself these questions. "How can my products fulfill a need or challenge as a result of the change?" "What additional services can my company provide to lessen the impact of the shift?" When the change effects a company who is your customer, ask yourself "How can I expand the use of or prevent the replacement of my services?"
For instance, you read an account plans to expand their operations. When companies expand or restructure, typically the management re-evaluates human resources and capital assets to decide what stays, what goes and what's needed. When preparing your sales strategy, keep in mind the big picture. An enterprise wide sale is far more valuable than an individual business unit sale.
Different Ways to Create More Sales
1. Assembling a plan showing how the effects of the change relate to the benefits your products and services provide can position you for a sale.
2. Taking note of changes or trends that may affect both you and your account's industries will make you sound intelligent and increase the odds of a sale.
3. Looking for stories about accounts using your competitor's products and applying that application to your offerings is another way to make more sale
4. Keeping your account records up to date allows you to invest your time locating who is responsible for and capable of making a buying decision.
5. Finding and calling up users of your competitor's products is a way to replace or augment existing products. Be sure to explain up front, you are looking for ways to improve your product
* What do you like about their products or services?
* Is there anything you dislike or have found unsatisfactory?
* If you had a wish list, what features would you like to see their product have?
Assuming your service provides missing features and benefits your competitors do not offer, you have yourself a potential sale.
6. Calling your customers pro-actively and assuring them of continuous service provides an opening to
* Find out more about an account's future strategic direction.
* Expand and cement contact relationships,
* Uncover potential evaluations, projects or initiatives,
* Locate the main or new users of your products,
* Gauge customer satisfaction and nip potential problems in the bud before they become unmanageable,
* Offer consulting services, education or documentation,
* Inquire about other business units that may need your products,
* Provide greater customer service, making difficult for competitors to replace your product
Understanding the effects of change can present an opportunity to persuade management to invest in new products, services or technologies.
Free Sources of Business Sales Intelligence
An account's sales literature
Employee telephone interviews
Competitor user telephone interviews
Online and hard copy business and finance publications
State and federal government agencies such as the Office of Management and Budget or the General Services Administration (GSA).
Using the Freedom of Information Act to obtain your competitor's GSA schedules
Classified advertisements
Visit the SEC website
Other suppliers who service your account
LinkedIn, Jigsaw, etc.
Finding information is easy. Systematically connecting the shift effects to the benefits your products provide, is the challenge. Correlating specific benefits to specific contact wins will place you in a position to watch your sales climb. However, you must act upon the change, before your competitors do. Change is constant and change creates sales opportunities.
REPRINT PERMISSION
Ron LaVine, MBA is president and founder of Accelerated Cold Call Training, Inc., a cold call training firm located in Oak Park, CA. If you would like information on How to Make Successful Cold Calls – LIVE Call Training please call Ron at 818-519-3852 or visit www.ast-incorp.com. © 2011 by Accelerated Sales Training, Inc.
President of Accelerated Cold Call Training, Inc.
Finding new business can be a snap, if you know where to look and what to do with the information you find. Using the telephone along with publicly available information, you can turn data into dollar
Understanding the importance of the "fact finding step" in the sales cycle, is key to making more sales. We need information resources to enable us to determine who is responsible for decision making, where an account is now, where they want to be and how they plan to get there.
It is easy to mishandle this part of the sales cycle in an eagerness to sell. Finding data about a shift in the way an account does business is not enough. Understanding the potential effects of the change is key to finding revenue producing events.
Show Me the Money
Look for accounts in your territory who:
* Acquire, merge or joint venture with another company,
* Have been acquired by another company,
* Add additional equipment or hardware or facilities,
* Announce a change in staffing requirements or business, practices due to expansion, restructuring or relocation,
* Receive contract awards,
* Mention cost cutting initiatives,
* Outsource certain services to concentrate on core businesses,
* Are embarking on new projects,
* Issue an IPO to raise operating capital for buying more assets,
* Spin off a division into a new company with new ownership,
* Maybe affected by pending legislation or regulations.
Turning Data into Dollars
Once a change occurs, ask yourself these questions. "How can my products fulfill a need or challenge as a result of the change?" "What additional services can my company provide to lessen the impact of the shift?" When the change effects a company who is your customer, ask yourself "How can I expand the use of or prevent the replacement of my services?"
For instance, you read an account plans to expand their operations. When companies expand or restructure, typically the management re-evaluates human resources and capital assets to decide what stays, what goes and what's needed. When preparing your sales strategy, keep in mind the big picture. An enterprise wide sale is far more valuable than an individual business unit sale.
Different Ways to Create More Sales
1. Assembling a plan showing how the effects of the change relate to the benefits your products and services provide can position you for a sale.
2. Taking note of changes or trends that may affect both you and your account's industries will make you sound intelligent and increase the odds of a sale.
3. Looking for stories about accounts using your competitor's products and applying that application to your offerings is another way to make more sale
4. Keeping your account records up to date allows you to invest your time locating who is responsible for and capable of making a buying decision.
5. Finding and calling up users of your competitor's products is a way to replace or augment existing products. Be sure to explain up front, you are looking for ways to improve your product
* What do you like about their products or services?
* Is there anything you dislike or have found unsatisfactory?
* If you had a wish list, what features would you like to see their product have?
Assuming your service provides missing features and benefits your competitors do not offer, you have yourself a potential sale.
6. Calling your customers pro-actively and assuring them of continuous service provides an opening to
* Find out more about an account's future strategic direction.
* Expand and cement contact relationships,
* Uncover potential evaluations, projects or initiatives,
* Locate the main or new users of your products,
* Gauge customer satisfaction and nip potential problems in the bud before they become unmanageable,
* Offer consulting services, education or documentation,
* Inquire about other business units that may need your products,
* Provide greater customer service, making difficult for competitors to replace your product
Understanding the effects of change can present an opportunity to persuade management to invest in new products, services or technologies.
Free Sources of Business Sales Intelligence
An account's sales literature
Employee telephone interviews
Competitor user telephone interviews
Online and hard copy business and finance publications
State and federal government agencies such as the Office of Management and Budget or the General Services Administration (GSA).
Using the Freedom of Information Act to obtain your competitor's GSA schedules
Classified advertisements
Visit the SEC website
Other suppliers who service your account
LinkedIn, Jigsaw, etc.
Finding information is easy. Systematically connecting the shift effects to the benefits your products provide, is the challenge. Correlating specific benefits to specific contact wins will place you in a position to watch your sales climb. However, you must act upon the change, before your competitors do. Change is constant and change creates sales opportunities.
REPRINT PERMISSION
Ron LaVine, MBA is president and founder of Accelerated Cold Call Training, Inc., a cold call training firm located in Oak Park, CA. If you would like information on How to Make Successful Cold Calls – LIVE Call Training please call Ron at 818-519-3852 or visit www.ast-incorp.com. © 2011 by Accelerated Sales Training, Inc.
Sunday, June 12, 2011
What Makes a Qualified Prospect, Qualified? Part 4 of 4
By Ron LaVine, MBA
President of Accelerated Sales Training, Inc.
www.ast-incorp.com
16. Resources
Does the Prospect have the time and staff necessary to conduct an evaluation?
Does the Prospect have the time and staff necessary to prepare a cost justification?
Does the Prospect have a budget available or access to discretionary funds?
Does the Prospect have the right physical environment for your solution?
What are the bare minimum requirements for your product or service to work?
17. Next Steps
After summarizing your conversation, follow up with a next step question such as:
"What's next?" or "What's the next step?"
"Where do we go from here?"
"If we had a solution that would help you do a better job than your current solution what is the process you go through to look at new solutions?"
"What do we need to do to move forward on this?"
What actions need to be taken by you and the prospect to get them to evaluate your solution?
Have you set up a SALES M.A.P. (Mutually Agreed upon Process™)?
What day and time do these actions need to be completed by?
What is the time-line or what are the milestones for moving the sale to its completion?
Next steps need to be time and date specific. "I'll call you back next month" is not the same as "We'll speak next Tuesday at 3 p.m. Eastern Time to discuss the merits of the proposal after you have had the opportunity to review it with your peers, correct?"
Examples of Next Steps
Do you have permission to send literature, an email or a fax while also setting a specific date and time to call to be sure the information is received and to answer questions or discuss the materials?
Is the Prospect willing to accept your proposal or do they want a demonstration or presentation?
Is a call required to answer or clarify any complex issues?
Are you in the habit of following a phone call with a fax or an email?
Do you follow a fax with a phone call or an email?
What about following an email with a phone call or a fax?
Conclusion
If you or your sales force has not defined the characteristics of a most profitable prospect, it is time to do so. Consistency of definitions and the use of a well-defined cold calling system result in prospects well qualified and ready to buy what you are selling.
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. If you would like information on How to Make Successful Cold Calls – Live Call Training please call Ron at 818-519-3852 or visit www.ast-incorp.com. © 2011 by Accelerated Sales Training, Inc.
President of Accelerated Sales Training, Inc.
www.ast-incorp.com
16. Resources
Does the Prospect have the time and staff necessary to conduct an evaluation?
Does the Prospect have the time and staff necessary to prepare a cost justification?
Does the Prospect have a budget available or access to discretionary funds?
Does the Prospect have the right physical environment for your solution?
What are the bare minimum requirements for your product or service to work?
17. Next Steps
After summarizing your conversation, follow up with a next step question such as:
"What's next?" or "What's the next step?"
"Where do we go from here?"
"If we had a solution that would help you do a better job than your current solution what is the process you go through to look at new solutions?"
"What do we need to do to move forward on this?"
What actions need to be taken by you and the prospect to get them to evaluate your solution?
Have you set up a SALES M.A.P. (Mutually Agreed upon Process™)?
What day and time do these actions need to be completed by?
What is the time-line or what are the milestones for moving the sale to its completion?
Next steps need to be time and date specific. "I'll call you back next month" is not the same as "We'll speak next Tuesday at 3 p.m. Eastern Time to discuss the merits of the proposal after you have had the opportunity to review it with your peers, correct?"
Examples of Next Steps
Do you have permission to send literature, an email or a fax while also setting a specific date and time to call to be sure the information is received and to answer questions or discuss the materials?
Is the Prospect willing to accept your proposal or do they want a demonstration or presentation?
Is a call required to answer or clarify any complex issues?
Are you in the habit of following a phone call with a fax or an email?
Do you follow a fax with a phone call or an email?
What about following an email with a phone call or a fax?
Conclusion
If you or your sales force has not defined the characteristics of a most profitable prospect, it is time to do so. Consistency of definitions and the use of a well-defined cold calling system result in prospects well qualified and ready to buy what you are selling.
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. If you would like information on How to Make Successful Cold Calls – Live Call Training please call Ron at 818-519-3852 or visit www.ast-incorp.com. © 2011 by Accelerated Sales Training, Inc.
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