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Archive for February, 2008

TOP TEN – Selling to “CXOs”

February 13, 2008 askbusinesscoach Leave a comment

1.) Know who you’re meeting with in advance (know something about their perceptions, interest, goals, competitors, mission)

2.) Listen, Listen and Listen Again –

3.) Be prepared, don’t waste their time, get to the point and DON’T ASK DUMB QUESTIONS

4.) Be prepared to be rushed, interrupted or rescheduled –know how to handle all of these situations in advance.

5.) In a meeting make sure you adjust your communication to their tone

6.) Speak with authority on the topic and know how your solution benefits his/her needs

7.) Permit them to help you solve their problems

8.) Don’t challenge their authority

9.) Understand his/her criteria for starting a business relationship

10.) Deliver what you promise

Beware Favoritism

February 10, 2008 askbusinesscoach Leave a comment

In your career did you ever feel that someone did not deserve to get a promotion, bonus, commissions or privileges?  Did you think the person received the favors due to reasons other than performance? If so, you’re not alone, millions of people go to work everyday thinking this and working under unfair conditions. Favoritism is costing corporations billions of dollars annually.

Successful leaders know that poor performance, envy, dissatisfaction, rumors, hostility, and resentment are just a few of the results of favoritism. They know that if you praise others by factors other than performance you will create inequality within the team and you will be seen as un-fair.  True leaders expect everyone to play by the same rules.  As a good leader they are careful not to focus on personalities or hero’s because they know that they will not help those who need to learn, improve and excel. 

With all of our focus on Business Process Management, Business Process Software, CRM and ERP systems we can’t software our way out of human frailty and contain the financial losses due to favoritism – so the best we can do is to hire good managers and have them mentor others.

Quick Tip: STOP TELLING THE PROSPECT WHAT YOU THINK THEY NEED

The most critical part of the selling cycle after you’ve made the appointment for your first meeting with a new prospect is for you to LISTEN, LEARN and don’t ASSUME anything. Ask probing questions relevant to the prospects BUSINESS, wait for his/her responses, attitudes and tone.

Don’t go into a meeting with a mind dump on the products/services your company offers. Know how to transition you communications to meet the pace of your audience. Plan ahead and practice, practice, practice so that your every word is conversational and flowing. You can only uncover the real needs of the prospect by probing with good interviewing and questioning skills.

Managing Sales

I have had several request for the names of books on managing sales – Here’s my TOP 10 list:

1.) Solution Selling – Michael Bosworth
2.) Chasing Quota – Walter Brown Proactive

3.) CEO Tools – Kraig Kramer
4.)You ‘re in charge – Now What? – Thomas J. Neff & James. M. Citrin

5.) For new sales managers: Fundamentals of sales management by Matthew Schwartz

6.) Ziglar on Selling, Zig Ziglar

7.) Winning Without Intimidation – Bob Burg

8.) Competitive Strategy – Michael Porter

9.) The Ultimate Sales Managers Guide – John Klymshyn

10.) Selling With Integrity: Sharon Drew Morgen

OUTSOURCING SALES?

February 2, 2008 askbusinesscoach 1 comment

A few months age, I began receiving a phone call or two a week from foreign sales people trying to sell me outsourced sales/BD services. I was stunned, not because of the calls, but because all the callers to date have not spoken American English very well. In fact, when I tried to tell them what I expect from a salesperson, they misunderstood what I was saying and would say yes to everything even when a no or some other response was required. If one intends to sell these types of services they need to fully understand the prospect and be able to sell the concept and speak the language. 

Most companies struggle with trying to figure out how they will go about outsourcing lead generation let alone direct sales. We know that many companies garner a very positive ROI from pre-qualified leads. But you have to know what questions to ask and understand the different types of services available within the “pre-qualified” to know what service the telemarketing company really provides. It gets far more complicated when you look at outsourcing sales teams. In the states, we do have some good outsourced sales services companies that use very experienced sales/BD executives who are familiar with the “C” groups and the many issues that B2B faces, but even they have to pick and choose the right partners to make sure that all parties are successful. For hiring telemarketers who will help you with an easy value proposition such as building a prospect list, mapping an organization and decision hierarchy and qualifying at the “C” or Director level for appointment setting only – you will need to:

1.) Be certain that outside lead generators are not recognized as such. They really need to act as an extension of your team.

2.) Telemarketer must know the subject matter and properly explain the value proposition. The agenda and purpose for the “meeting” must be clearly understood. Your reputation is on the line, not to mention your salespersons time and the cost of doing business.

3.) Focus on how the meeting was set-up, was it bullying, pressure, misinformation, etc. If it was any of these things your salespeople might be walking into a meeting where the CIO has no idea of the subject matter, no interest, or has a completely different idea of why the meeting was set-up.

4.) If you can, have the telemarketers reps based in your offices

5.) Make sure the BD folks from the telemarketing firm spend at least a day with you to understand what it is that you do and have them show you how they will explain it to your prospective constituency.

6.) Build a quality matrix and benchmarks

7.) Test, re-test and refine

8.) Be in constant communication with your telemarketing company and have one point person to go to.

9.) Invest a lot of time in developing your requirements and get “signed” buy-in from the provider

10.) Don’t commit to any long term relationship.

All of this needs to be done just for hiring a telemarketing organization, not a sales organization. I could go on but this is food for thought just so  companies don’t cut their throats while looking to cut costs.

If you’re a professional sales person selling products/services, your probably shaking your head right now and thinking that anyone who considers outsourcing sales is nuts. For the moment you may not need to worry about it because this is not a question that many companies are seriously asking themselves now. But you should know that there are a number of sales outsourcing organizations in India asking companies in the U.S. and elsewhere to buy into the idea, and my guess is that in a down market it could be tempting for companies looking to cut costs

Your thoughts please!

Qualities to look for when hiring a new sales person

February 1, 2008 askbusinesscoach 1 comment

Look for individuals with an outstanding track record of success .

They tend to: -be extremely confident -love to sell -in top 20% consistently -are self motivated -they are intelligent and creative -are good communicators (verbal and in writing) -love the challenge -honest and sincere -good listeners -analytical -problem solvers -positive attitude -do not need supervision -do not mind cold calling because they find it an exciting challenge. -they have proven to be persistent and overcome difficulties with ease.

Also look at my post “Hiring Talented Sales Pros” for additional help.