Modern Prospecting 1.5

PHOTO: Antique, cast iron dragon piggy banks. If this is what you've been hankering for, I doubt that there is a better selection than can be found at Clines Country Antiques in Mt. Pleasant, NC.  And is it me, or are they all looking at the camera? 


THE HAPPINESS ADVANTAGE


Recently I had the pleasure of hearing Shawn Achor speak.  Shawn is a Harvard grad, scientist, author and consultant.  He stayed at Harvard long after graduation to study why Harvard freshmen were so unhappy.  He has since traveled the world and studied all kinds of people and groups as to why they are happy or not.

Per his research and study, happiness is not the result of success, it is the cause.

The Happiness Advantage is his book documenting his efforts and findings.  It is an easy and attitude-adjusting read that causes these thoughts about sales and sales management:

[1] Happy people make better decisions, faster.
    [...and so, if we are selling, trying to get a buyer to decide, should we make the buyer feel good
     about themsaleves or bad?]

[2] Key to human happiness is being considered "significant".
    [...as a manager of people (presumably human) should we encourage or criticize. 
    Should we welcome input and feedback from subordinates or belittle it.]

On this same topic he quotes a 3:1 ratio:  3 positive compliments to offset a negative.  Groups and teams that exceed this 3:1 ratio are far more productive than teams that are below it.  (Also tsted and proven to be so in the US military.)

[3] Exercise makes us happy.
    [ ...just 15 minutes per day can and will make a difference]

[4] Social interaction is the remedy for sadness, not isolation.
    [...a network of freinds and allies and being able to be with them is powerful.  Keep an eye on
    your remote reps who have little access to their corporate colleagues.]

[5] Meditation makes us happy.
    [ ...just 2 minutes per day of conscious disengagement refreshes the brain.  When the cubicle
    is closing in . . . . turn off the computer and focus on nothing except your gentle breathing.]

[6] Happiness is a choice.  We can choose to make ourselves happy whenever we want.  We just have to want.

[7] Happiness Spreads.
    [...he had the audience pair up and look at each other. 1 was asked to remain unmoved and
     blank faced, while the other one smiled.  We reversed roles.  The result - 10% were able to 
     not smile back.]

[8] Happiness is an advantage.
    [...enjoy the book.  The Happiness Advantage.]


It's not that our prospects will be happier as a result of buying and using our product.  It's that they will be more likely to buy and use our product if they are happy when making the decision.

How can we make our prospects happy during the prospecting effort?

 Charlotte, NC

Modern Prospecting 1.4

photo: The David, a Michelangelo masterpiece that was completed in 1504 is currently housed in the Academia Gallery in Florence Italy.  This 17 foot tall sculpture is awesome and can only be appreciated in person. It exceeds description and photography.  Next time you're in Florence . . .    

ONE PROSPECT, not many

(quit the numbers game, seek the power of one)

What if you had only one prospect to work each month?  There are no others to fall back on, to confuse, or dilute your efforts.  What would you do differently?

 

And before you read too far, allow me to disclaim:  Not all sales warrant this one-prospect approach but, not all sales warrant the “numbers game”. 

The “numbers game” is the predominant approach to new business development.  Are these two examples familiar?

At a well-attended networking event you, and everyone else, are eager to meet and chat.  How do you feel when you are conversing with a new connection and while you’re talking that person is looking over your shoulder and around the room --- looking for another number?

Our sales manager tells us to make more calls.  If we are not setting enough appointments, the universal solution is … make more calls.  Pick up the phone and keep dialing.  

In both examples, we are devaluing the people we are trying to meet.  We are simply hunting for that client who is in absolute need of our solution … now.

How often does that happen to you?  How many people buy from you the first time you meet them?

If yours is a valuable solution, it happens rarely if ever.  And today’s buyers, given access to Google, can quickly and easily shop for whatever we have to offer.  And they should do so!  The person responsible (the elusive decision-maker) for making a valuable, important or expensive purchase decision wants NOT to make a mistake.

Some purchase decisions are lightweights and some are not.  If yours is a significant or heavyweight decision, let’s consider a different approach than the numbers game.

Here are some elements to the one prospect approach.

[1] We are assigned but a few prospects.  There are no others to fall back on, or to confuse our focus, or to dilute our efforts.  We have only these few.

[2] We are not “going for the no”.  We are seeking to build a relationship.  The goal is to become a “trusted advisor”.

[3] We know that the buyer is NOT going to buy from us at our first meeting.  We are not going to ask for any business until our prospect has articulated a very real and specific objective that they are very excited about.

[4] We are going to respect each prospect that we are assigned and we are going to design a 10 or 50 step process with which we will accomplish various milestones.  We are going to have a real prospect nurturing plan full of value.  We are NOT making calls to “touch base”.

[5] We know that many people we meet will not buy from us now and may never.  We know this and accept this.  We do not become angry or defensive about such.  Instead we are pleased with the relationship we are building as a “trusted advisor”.

For years we have treated prospects like numbers and with disdain.  We have caused prospects to dislike us and avoid us.   

We perpetuate this horridly unsuccessful numbers game approach.  It’s as much a hazing ritual as anything else … because there is no value in it.  Our closing percentages are pitifully low.  We cause the people we meet to speak badly of us, and it causes sales people to burn-out and hate their jobs.

When we sellers figure out to whom we can truly bring real value, and respect the prospect, and take the time to build a relationship, perhaps we can enjoy our work again.  And perhaps our reputation will precede us as a trusted advisor, rather than an “all mouth and no ears”, fast-talking, anxious to ge get this "no", pitch-meister. 

Many more of the people we meet will not be customers of ours, but this does not mean they need not think well of us.  If we treat every person we meet with respect and grace, we can cause goodwill.  If we select our prospects carefully and take the time to discover how we can deliver real value to that one prospect . . . the world will be a better place for sales people AND for prospects, too.

 



Charlotte, NC

 

Modern Prospecting 1.3



photo: Mount Rushmore is near Keystone, South Dakota in the Black Hills. Historian Doane Robinson is credited with conceiving the idea to promote tourism to the area.  I wonder how and why these fellows were selected?  And why in this order?  And why George is the only one with a chest and shoulder?

 

 

 

Who do you think is a successful person? 

And why?

Our personal answers to this question are insightful and reveal something about who we are and our own value systems.  The answers are not so very easy.  If you’ve never thought about this before, don’t be surprised at how long it might be before a hero arrives.

In my search, I wrestled with these questions:

[1] Does success also mean … Hero?   Role model?
[2] Why?  What is it about them that cause me to call them “successful”?
[3] Does it mean I like them?
[4] How well do I really know them?
[5] Would I trust them with my child … for an hour, a day or a week?
[6] Is it a holistic or specific thing?
[7] Is it based on what they achieved for themselves? for family? for others?
[8] In all of history, in all of time, through my filters, who was successful?

 A score card ...

Have I ever met them?
Have I read (a little or a lot) about them?  How well do I really know them?
Have I ever conversed with them?
Have they ever done anything to help me?
Would I trust them with my property?
What is the primary reason why I think them successful?  Be it 2 or 20, of the reasons listed, what is the first reason as to why?

Here are my heroes; my Mount Rushmore

	Abraham Lincoln	Robert E. Lee	Jack Nicklaus	Jimmy Buffett
Have I ever met them?	No	No	No	No
Have I read about them?	Yes	Yes	Yes	Yes
How well do I know them?	I honestly do not know these people very well.  But, based on what I do know, they are on my Mount Rushmore.  I reserve the right to replace them.
Have I ever conversed with them?	No	No	No	No
Have they ever done anything to help me?	Yes	Yes	Yes	Yes
Would I trust them with my property?	Yes	Yes	Yes	Yes
What is the primary reason why I think them successful?	Overall demeanor and character   Open-mindedness, expertise with words and his moral compass.	Overall demeanor and character   Loyalty, respect and creativity	Overall demeanor and character   Focus and determination	Overall demeanor and character   Sense of humor and a way with words

“Overall demeanor and character”, I decided was a foundation to “success” and it precedes, permeates and exceeds the successful career.  It includes family, grace, humility, community and Intelligence and to the best of my knowledge and awareness, I think my heroes are well grounded. 

Are these my values?  Is this my definition of success?

Yes.  I admire these attributes.  These men are my heroes and role models and I consider them to be successful.  I continue to read about them, learn from them and be inspired by them. 

And so, who are your heroes?  Who would you put on your personal Mount Rushmore?  And why? 
Ask your spouse, your children, your boss, your co-workers and others with whom you associate, 
Ask your next job applicant? 
And as a job applicant, perhaps it is an answer to the “Tell me about yourself …” question?

Here's to your success, your heroes and your values.

Modern Prospecting 1.2

 

 

 

photo:  Steamed hardshell crabs, dirty style, from the Chesapeake Bay, as served at my favorite Maryland eastern shore crab house, The Wellwood Inn.  With ice cold beer, this is my most favorite food. 

 

 

ONE SIZE NEVER FITS THEM ALL 

 

 

No matter what it is we do or sell, it is the buyer who decides why they buy it and how they will use it.

 

As the inventor, designer or whatever role we might have as the seller, our product knowledge may be enormous and our opinions well validated but the purchase decision is not ours.  Only the buyer knows why they decided to make this purchase, today.

 

If we were to ask our most recent customers why, we would be surprised as to what the real reasons are.  Each has their own system of values and they have their own situation of current need and want.  We may think we are silver-tongued angels of mercy, but the truth has more to do with timing than tongue-wagging.

 

In a slightly more general sense, we serve different niche markets.  Each one is different from the next. Some are different simply because of geography, some due to gender, some due to climate or season .... but variables there are and they all affect the buyer's mood and decision-making process.

 

The grave mistake is to presume to know why a buyer buys. 

 

Eric Ries wrote a book about an idea that he and his partners adored.  They built it, went to market and sold none.  He recounts this story and the many lessons learned from it in his book The Lean Start-Up.  Their business was saved when they did make one sale and then visited that customer and learned why that buyer bought; what they valued and what they did not.  Armed with real market data, they tweaked the product and sold another one.  And visited and questioned this buyer, too.

 

After 10 customer visits, the product was re-designed and re-tooled.  And many sales were made thereafter.

 

We may not visit each one of our customers, but, we can recognize that every niche market we aim at, is different.  And if we think about each one, and acknowledge that each is different than the other, we can develop the right messaging and the right value propositions for each niche.

 

Consider the audience first.  What do they want?  The smaller we can define our niches, the more specific we can see them and the more appropriately we can communicate with them and the more effective (and attractive) will we be. 

 

Each market at which we aim requires its own messaging, prospecting and sales strategy. One size never fits them all.

 

 

 

 

 

 



Modern Prospecting 1.1

photo: Poe's Tavern, Sullivans Island, S.C. is a near perfect beach bar serving truly outstanding burgers. My favorite first stop in Charleston. 

33% MORE MEETINGS FROM YOUR EMAIL PROSPECTING EFFORTS

 
 

When reaching out to new prospects, you are a stranger breaking into their world.  They know you not at all and will give you merely seconds to make a dent. 

I have found these 10 guidelines have improved my contact percentages. 

[1] Think small.  Select your targets well. Sales may be “made”, but good prospects are found.

Regarding the “From Box”

[2] Have the email sent by someone the prospect knows...
People are more likely to open emails from people they know. Have you any “allies” who might email on your behalf?  This is NOT a “referral” it is an introduction.

[3] OR, from you, using your LinkedIn name...
In a glance, people want to know “who”.  A real person’s name has more validity.  And if they wanted to “check you out”, Linkedin is a perfect tool for such.  (In the body, include a link to your linkedin profile.)

Regarding the “Subject line”

[4] Cite a common connection...
Example: "Jane Smith suggested we connect."

• Have permission to use this person's name, or it can backfire. The prospect might send an "Is this real?" email to Jane, and if she does not affirm, your credibility with the prospect (and with Jane) is gone forever.

[5] OR, cite a current customer's experience...
Example: "How we saved Starbucks 20% of inventory costs."

• Have permission to use the current customer's name, or you risk irritating (and losing) the existing customer.

[6] OR, cite the prospect's competitor...
Example: (if prospecting Starbucks) "How Caribou saved 20% in inventory costs."

• Have your facts straight and know that the factoid is interesting enough to pique the prospect's interest.

[7] OR, cite a potential benefit...
Example: "3 ways to save 20% in inventory costs."

Regarding the “body”

[8] A fulfilling first sentence...
Example: "Jim, I hear you've got inventory control problems..."
DO NOT: "Dear Mr. Smith, my company, Acme, is a leading vendor of..."

[9] Be brief and super-specific...

People allow strangers 5 to 8 seconds.  Select specific and concrete words.  Don’t worry about flow and transition.  Be less than 250 specific and meaningful words. 

• Avoid generic business blabber like, “ … top quality”, “ … a fraction of the cost”, “ … lower costs”, or “ … increased revenue”.
• Be specific, “ … 20% reduction in inventory costs”, “ … a 10 to 1 ROI”

[10] Include “quality” personal links...
Prospecting is a one to one event.  I am trying to begin a relationship with you.  My company reputation might help, but it is just you meeting me.  Include personal links:

• Your linkedin profile link
• Your linkedin business page link
• An article or whitepaper link you wrote or completely endorse.

A “quality” link is a link to more info about YOU, OR to more info that relates EXACTLY to this particular email. 

Your web site is probably NOT a best link.  Most likely it contains too much.  Though it is no doubt of great quality, it is also of greater quantity that is not easy to navigate --- especially if the prospect is smart-phoning.

Prospecting has nothing to do with selling.  Happy hunting.

  

All the best

Steve Gatter, Charlotte, NC

 

 

 

 

Modern Prospecting 1.0

 

photo: Wilmington, NC --- this is the entrance to a local Pub.  On my bookcase is a sign from my father's desk that reads "no sniveling".  I like how this place has enhanced the sentiment.

 

 

2 years ago I started the Street Smart Sales Forum.  It's a forum and think tank for very small busness owners and sales people and MLMers and people in transition.  We meet weekly to discuss how to do business in this unique, internet dominated marketplace.  It's my intention to share some of the ideas that have and continue to come from these forums.  

 

Opening remarks:

 

[1] There is no time.  Therefore, short is better than long, simply because, no one has time to read long.

 

[2] Words matter.  Before a customer can be bowled over by a product or service, they have to first be inspired or inclined to try it.  The words we use are critical.  And, but, then, ... once we find these inspiring words, we ought to repeat them, often, rather than continuing the search for more and better ones.

 

[3] LinkedIn is the greatest innovation in sales since the telephone.  Much more to come on this topic, including an e-book on how to use this tool to set appointments.   

 

[4] There is no such thing as a "market".  There are only "niche markets".  And the better we can define our niche markets, the more efficiently we can serve such market.  Converesly, if we aim at too broad of a niche market, we will repeatedly miss.  Smaller truly is more beautiful.

 

End 

post scripts

 

[] The first segment of this blog's journey will be to discuss three key prospecting topics; LinkedIn, Messaging and Niches. 

 

[] If you're in Charlotte, would you like to be invited to Street Smart Sales Forum?  We have no web site right now; more information is available on my Linkedin profile.

 

[] Would you like to know how to set appointments on Linkedin at a 50% to 80% success rate?

 

 

all the best . . .

Steve Gatter, Charlotte, NC