Act Now and Save

Act Now and Save

A proven sales tactic over the years has been the “act now” close. It requires some kind of incentive to get your prospect to say yes and give you the order. The reason for “act now” can be positive or negative. Either way it works if done right.

A positive reason to encourage your prospect to act now could be a price concession or other throw in.

When I sold medical billing computer systems to doctors, I used this tactic often and it worked for me most of the time. Of course, I had already qualified them to be a customer and had gone through a discovery, presentation and proposal cycle. If I did not get the order on the spot, I was ready to deal with the prospect later. I had some flexibility in each sale so I could offer an incentive and still make a profitable deal.

Here are a couple of positive examples:

“If you act now I am authorized to include an extended service contract with your purchase. It represents a $500 value. The offer will expire at the end of the month. Act now. “

“If you act now, I can put your order in front of the others and get your system up and operational by the end of the year. If you don’t act now I can’t do it, if not, I can’t”

“I have five certificates for a free Windows 8 upgrade.  If you act now, I can give one of them to you.”

And, a few negative examples:

“If you act now you can avoid the 15% price increase schedule to take place after the end of the year.”

“Your current system is in dire shape. If you don’t act now you might lose valuable programs and data at any time. Please act now.”

“Your software will not be supported after the first of the year. To avoid potential problems and act now.”

I will leave it up to you to create some great “act-now” rationale for clients and prospects in your industry.

Give it a try

Again, assuming the prospect has the need, budget and decision making power, I recommend that you pull out “act now” and give them a call. You can do it and by doing so, finish the sales year strong.

No Water - No Beer

No water – no beer? That is about as spot on a statement as I have ever heard. I went to a national water convention a few years ago. “No Water – No Beer” was the theme of the convention. There is some profound truth here. I would like to use it as a metaphor for business and sales careers.

A Metaphor for Business Development

Water represents your product or services. Beer represents your reward for delivering your products or services. Without water there will be no beer. Without products or services that represent real value to someone there will be no reward.

Making the Bell Ring

I work with a lot of sales and business people. They are either my clients or mentees. I spend my time helping them understand and solve business development issues. Absolutely everyone I deal with is driven to make more sales and more money for their effort.  All of them believe that they have products or services that are of great value to someone. When true, my job in helping them develop their business is relatively easy. Do certain things and avoid others and you will succeed.

The Elephant in the Room

Unfortunately, it is not always that easy. When push comes to shove the reality of a lack of value and demand for their offering is the elephant in the room. They either lack an understanding of their market potential or run on their infatuation for their product or service that is often supported by their friends and loved ones who don’t tell them the truth.

Reality

I know entrepreneurs who invest their savings, max out their credit cards, mortgage their houses, and borrow money from family, friends and fools chasing a dream that, in the end, was folly. I was on a panel of sales experts at a regional business incubator. After the event, a woman told me about her new venture with an online meeting tool organization. It is a multi-level marketing sales deal. She had stated her company, invested in the franchise and asked me my opinion of her potential. I had to tell her that there are two popular websites that provide the same or similar services for free. She had entered into a business where she is competing with free competition. She didn't know. She had no idea. I was sorry to be the bearer of bad news, but you would have thought that she would have done some elementary research before spending her precious time and money.

Research…Then Research Some More

The first two questions that I ask a new client or mentee are “Who buys from you?” and “Why do they buy?” Why will people give you money? Why? Where are they? And, what do you say to them to make the sale? You just have to know that there is water to make your beer or you are wasting your time.

I Can’t Do It

I have a reputation, with many, as a skilled sales professional. I have been to the mountain a few times over my long career. I take selling dead on seriously. My reality is that, short of selling snake oil, I can’t succeed with a product or service that has no real value or demand in the market.

Take Great Care

So, my message today is to invest whatever time and resources necessary to validate the value of your products and/or services in the marketplace. Don’t buy happy talk from your family and friends. They love you and mean well. Salesperson, entrepreneur or established businessperson…you owe it to yourself to make sure you have a sufficient supply of water to make the beer. Cheers!

Your Personal Brand

Your brand, or reputation, is important. Doing a good job of branding yourself is a proven way to differentiate you from the pack. The idea is to demonstrate to customers, prospective customers and influencers that you are better than your competition. Getting the message out that you are a good person to deal with should become part of your personal business plan. You do have a plan…don’t you?

My last three posts have dealt with your education, investing in yourself and selling yourself. Building a brand is an extension of those three messages, and could be the hardest thing you do.

The best way to go about building your reputation-brand, as a professional that knows what he or she are doing, is to create content on your subject. That’s right, you know a lot about your specialty. You know more than most of your competitors and can prove it. The best way to get that message across is to…well…get the message across.

In the world of building and maintaining my personal brand, creating and delivering subject matter content was and is at the core of my personal promotion branding activities.

My business is consulting. People give me money for my advice and services. I show my clients how to grow their businesses by increasing sales. My consulting has caused a local company to grow from $1 million dollars in sales per year to $1 million dollars of sales per month in eighteen months. Not bad. And, it has made me a very busy guy. My docket is full and my cash flow is terrific.

Going from a business idea a few years ago to becoming as billable as I care to be was assisted greatly by the subject matter content that I created, published and distributed. I know my stuff, but I found it difficult to approach strangers and tell them “You should really hire me. I’m good. No kidding.” That is clumsy and uncomfortable, and not very professional. Your message is much more powerful and meaningful if it comes from a third party, or…if you tell your story in a neutral setting.

One way to establish your brand and build your business is to speak to groups. Booking a speaking engagement is easier than you think. Just get the word out within your network and the opportunities will come. You must be good and deliver a valuable and relevant message. That given, your next client could very well be sitting in the audience. Whenever I speak, I offer a free hour of my time to anyone in the audience to discuss their individual challenges. Some of them take me up on it and some of them hire me. It’s that simple. Talk about an easy sales process.

I also rely on three technology platforms to support my brand. The first is my website. The web is essentially an online brochure. I update it now and then with events and accomplishment. It also has a library of recommendations from the happy campers I have helped in the past. The web is a low cost and high performance tool that anyone can manage for themselves.

The next tool that I use is an e-mail marketing service. I create a monthly newsletter that is distributed to my customers, prospective customers, influencers and associates. I feature upcoming events, review recent events, feature a technology, a company in my network and offer myself as a speaker for the readers group or association. Every time I publish the newsletter I get a positive response or two. How hard is it to create and publish a newsletter? Not hard, nor is it expensive.

The third leg of my triad of technology tools is my blog. A blog is a place to post your thoughts on your subject to share with your audience. A blog is not an advertisement or a commercial. Your blog is a platform, to deliver relevant content to your audience that will benefit them and make them come back for more. The beauty of the blog is that the Internet really likes content. As you blog, you create a bunch of content on your subject. After so many blogs, you have enough material to publish a white paper if you have a theme and stick with it (like I have been doing with my last few posts). Over time, you should have enough material for a book. A published author is special and a proven subject matter expert.

The good news is that you don’t need to spend a lot of time on these supporting technologies. I routinely write during non-selling hours. Saturday or Sunday mornings are my prime writing times. If you are uncomfortable writing, get a MP3 player and dictate your material. There is software that can convert your dictation to text. There are also people who can transcribe your dictation for a modest fee.

So there you have it. Establish your expertise and separate yourself from the pack with content. You are an expert and you know it. It’s time to show it.

Selling Yourself

People Buy From People. 

Customers deal with whom they have the most confidence. If you do a good job of selling yourself they will be most comfortable when considering dealing with you. When putting your information together, it can be about you personally, about your company or a mix of both. Some salespeople have little to talk about. Others have too much. Everyone has something and it’s important to organize your credentials and use them to your advantage.

Some sales experts think that if you do a good job of assembling your credentials and presenting them early in a selling situation you can put that behind you and get on with selling your products or services. I believe that expertly presenting credentials in your interview is a powerful tactic. I do it routinely.

My caution is that if you give them too much or if your pitch comes off as cocky or as bragging it will backfire. When you put your credentials together make the presentation short, powerful and as humble and sincere as you can. Practice it on friends, colleagues, or family. Get their honest feedback and fix problems. After working through the nuts and bolts you will be ready.

Education

Your education is a great start for building a case that you are a good person to do business with. If you have a degree in a field related to your business focus, you will establish an advantage. Certifications are also really good when building your profile.

Achievements

Speak about your business accomplishments. If you have solved some major problems for customers, performed at a high level or have done anything else of note, let people know. Results are what customers are paying you for. If you have had successes they can be used as leverage for getting your prospective customer to accept your proposal.

Awards

Achievements are great. Awards are better. Getting the word out about your accomplishments is very good. When someone else, a third party, recognizes you for your accomplishments it is much better and carries a lot more weight than when coming from you.  I have received national and local awards over the years (Technology Pacesetter, Top Partner, Marketing and Sales Executives of Detroit Platinum Award finalist and more). I have used the power of these awards to separate myself from my competitors. The natural question to my prospect is “Why deal with them when you can deal with someone the industry or third parties honor…me?”

References

Reference letters are a terrific sales tool. They are not as powerful as awards, but very close. You don’t usually get these letters of reference unless you solicit them. When you do get them, make sure you have the source’s permission to use them. Also, check in with your happy campers once in a while and make sure they are still happy.

Community Service

There are times when your community service doesn’t matter to a customer. There are other times when your community service can be a difference between making a sale and losing the deal. You don’t have to go overboard, but a track record as a volunteer says a lot to a buyer about your character.

There you have it. Your credentials matter. Selling yourself as a trusted advisor, a good person to deal with is an important part of the sales process and should not be overlooked.

Invest in Yourself

Following up on last month's topic...

I find it funny that salespeople who need to upgrade their skills and product knowledge are generally indifferent to learning. Opportunity after opportunity to invest in themselves, enhance their careers and improve their income, are passed on by. And they wonder why they keep losing business to their competition and don't make their numbers. Duh!

When all things are equal, people buy from product knowledge experts before giving their money to novices. In fact, some customers will pay more for the security they get from working with experts. They have comfort that their investment and the outcome of their transaction are secure because their vendor salesperson "gets it".

Learning is an ongoing challenge. Things change. And those that don't stay current get left behind and either don't know why or have a bunch of excuses for their failures.

Whatever you studied in technical school or college may or may not be useful in your career. The truth is that it really doesn't matter where you are in the spectrum of subject matter or sales skills expertise. What matters is that you seek out materials and programs that can elevate your status and give you an edge over your competitors.

Remember, most people are indifferent to ongoing education. They don’t have or don't make the time, don't appreciate the value of learning, don't have a clue or just don't care. By making an effort to learn you will eclipse your competition quickly. The funny thing is that they probably won't even know it.

Knowledge is power. What I neglected to do last month is give you some ideas and sources for sales and industry information.

Ok, here's a start. Attend my sales training seminars.  I have been selling for over 40 years and have a lot of good material. A few gems from my class will put money in your pocket.

There are other sales and marketing experts. Attend their seminars; buy their books read their blogs. I do. I may be an expert, but things change and I need to stay on the edge. I have my own personal continuous education program.

The Internet offers a plethora of information on selling and on the topic(s) of your business. 

You can subscribe to industry and sales magazines. They arrive every month and tell you what's new in selling and in your industry. Tips, tools and tactics delivered to your door.

Go to the library. You can learn everything you need to know and more by reading books. The library has more relevant books than you have time to read.

Attend industry events. National, regional, state and local trade associations feature training. Many times the classes provide you with certifications that you can use to your advantage in a sales situation.

Take advantage of vendor sponsored training. They are highly interested in ramping up your level of knowledge in their products or services. Most host seminars, webinars, videos and other cool training opportunities.

Make friends with the top people in your space. You know the ones. They are highly successful, make the most sales and money and wipe up their unsuspecting competition. Get to know these people real well. Stick close. Observe. Ask a lot of questions. Figure it out. This is one strategy where you can really get an education and step up your game.

Don't hang out with negative people with a list of excuses. It won't help you. Run with the winners.

Finally, do it. Don't talk about investing time in yourself. Do not put it off. Start now. I know you are busy. You might say that you are too busy to devote time to continuous education.  Wrong answer.

Schedule some time every week for self-improvement. It will pay off immediately and will continue to reward you in the future.

Know more, sell more!

Product Knowledge

Some years ago, I decided that the secret of a successful sales career is based on a foundation of three fundamentals, activity, sales skills and product knowledge. As a sales trainer, coach and mentor, I firmly believe that all three elements are essential. Ignore any one of these three parts of your career puzzle and you won’t reach your potential.

I teach sales skills. I refer to my material as Sales Mechanics. You can learn how to sell. I can help. There are ways to approach selling. In very simple terms, there is a right way and a wrong way to behave as a sales professional. There are things that you should do and things you should not do to build a successful sales career (or business).

In the current edition of CRM Magazine, Marshall Lager points out that most professionals are referred to as practitioners. Why? They are practitioners because they are always practicing their professions. Like doctors, attorneys and accountants, sales professionals are on a journey that never ends. The business world is constantly moving. You have change with the times or get left behind.

I help people sharpen their sales skills. However, I do not have any control over their product knowledge or their level of sales activities. Product knowledge and sales activity are out of my control. These essentials are out of my control. I can only encourage everyone to become an expert at what they represent and to work hard and smart.

This brings me to Percy Whiting. Percy Whiting wrote a classic sales book, The 5 Great Rules of Selling. I got my copy in 1970. It was a textbook for the Dale Carnegie sales training class. I launched my sales career in 1970 after attending the Dale Carnegie program.

I picked the book up last week and decided to read it again. It has been over 40 years since I last opened it up. After reading the table of contents, I really looked forward to getting back into it. The material is timeless. I was amused when Percy noted that he got his first sales job in 1918. What really got my attention was that he led off the book talking about the importance of product knowledge. His take on the value of product knowledge consumed the better part of the first nineteen pages.

I strongly believe that people prefer to buy from subject matter experts.

My marquee client is enjoying the best consecutive sales years in the forty year history of the company with no end in sight. Why? Their sales are soaring because they employ, arguably, the leading product expert in the industry. They have a sales team of nine, but when there is something big on the line, the expert is on the sales call and in the room.

I can’t teach product knowledge, but I am a big fan of my clients becoming subject matter experts. There are a lot of ways to gain product and industry knowledge. Continuous education in your field provides you with a huge differential advantage over your competition. Become that “go to” product person. Become the expert with the answers and insight.

Oh yeah, don’t forget sales skills and sales activities along the way. And, you can still buy a copy of The 5 Great Rules of Selling. I highly recommend it.

Happy Talk

Everyone wants and needs encouragement. Positive support from our family, friends and peers helps us along our way as we journey through life. Kind words help us keep a good attitude when things don’t go our way.

Staying Positive

I try to be positive. I appreciate people who are positive, especially when I am the recipient of their good words and deeds. I always try to stand behind my friends, colleagues and clients. Being there for people is just a natural and good thing to do.

Reality Check

In my day-to-day world I meet and mentor a lot of businesses. My clients are mostly individuals who have launched a business and have taken their dream to some plateau along their way to success.

Unfortunately, some of the business concepts that are presented to me are not good. As I listen to some of the business plans of these really nice people I am really concerned that they are not going to make a go of it. How can this be?

Didn’t anyone tell them that they have fundamental problems with their dream business?

Some of the elephants in the room are apparent. Others are not.

Product viability, the market, competition, technology and funding are some of, but not nearly all, of the road blocks these brave souls face while getting up and running.

Blind Faith

When an Entrepreneur tells me that he will really get rolling “When I get funded”, I want to just stop them and tell them that they are not getting funded. Statistically, based on the reality of the business capital market, they not get funded. If they don’t have a plan “B”, they will be back in the job market just as soon as they run out of their family and friends money.

Tough Love

More often than not, I tell them what I think. My opinion is not often received well. It hurts to tell and hear the truth. Some call it tough love.

I Need Truth

This brings me to the manuscript of my latest book How to Employ Salespeople. I’ve been writing this book for years. The first manuscript was printed in 2009. I don’t even know when I started it. It was years ago. A year or so ago, I decided to get it ready to publish.

After I read it over and over again, making countless changes, I thought it might be ready to go. Before I sent it off to the publisher, I distributed copies of the manuscript to my best friends and associates. I asked them ahead of time to give me an honest assessment of the material. My editor will take care of grammar, spelling and punctuation problems; I really needed to know if the message was powerful and worthy of continuing the publishing process. Tell me true.

Getting negative feedback was like pulling teeth. Nobody wanted to go negative on me.  Fortunately, a few of them pointed out some things that I needed fix to and I did correct them.

Practice Tough Love

You are not helping anyone if you tell them anything other than the truth about their business plan, their book or anything meaningful. As a good and trusted friend and advisor they need truth, not happy talk.