Strategic Sales & Marketing Solutions

Salespeople often refer to the number of “touches”…instances of contact, whether via phone, email, regular mail or in person…that it takes to close a sale. While this might be an interesting number (and could potentially shed light on trends in specific targeted businesses), it lacks consistency and context. There are too many variables: the mood of the prospect on a certain day, whether your first contact was a true “cold call” or a connection through a mutual colleague, an unexpected ebb or flow in their finances, or the attempts of your competitors to under-bid your already quoted price.

How many “touches” does it take to close the sale? The answer is deceptively simple. It takes as many as it takes. Your primary responsibility as a professional salesperson is to never abandon your relationship with a prospect until you have complete assurance that you have no other options.

Even if you do determine that nurturing the relationship with one or more of your prospects is not the best use of your time and that no sales are visible on the immediate horizon, you can still drop a helpful article of interest in an envelope (with a brief, handwritten note and your business card) one or two times a year. You can leave a short, enthusiastic voice message about an upcoming event that they might enjoy, especially if it is directly related to their business. Doing so reminds your prospect that you are still alive, still interested in doing business with them, and still qualified to save them money, solve a problem, or both. Do not attempt to pressure the prospect into a sale during these moments of contact. Present yourself as a man or woman of service, someone with a genuine interest who is available to help them meet a need. They know what you’re selling and they know why you’re contacting them. Now is the time for you to focus on long-distance running, not a sprint to the finish line.

The challenge in effectively managing prospect “touches” lies in the salesperson’s ability to function fully in the moment, to listen, and to receive every verbal and nonverbal “clue” provided by the prospect.

As an example, when the prospect asks “How much will this cost,” the salesperson might reasonably acknowledge this as a strong potential signal that the “benefits” phase of the sales cycle has been successfully concluded. It stands to reason that while human beings are curious by nature, a prospect will have no interest in the cost of a product or service unless they also have a need, desire, or both. If the price question is raised before the salesperson has been given the opportunity to offer their presentation, the prospect is attempting to qualify or disqualify them solely on the basis of price. The prospect is primarily interested in finding the fastest way to show the salesperson to the door. There are very few prospects that will engage with a salesperson at any length unless that salesperson has captured their interest.

The intuitive powers of the salesperson come into play when the price question, coupled with tone of voice, body language, and any number of nonverbal cues, add up to a prospect who is ready to buy. This requires a salesperson willing to reject the smoke and mirrors of a “magic formula” in order to go the distance and invest the proper amount of time…no more, no less…in nurturing quality relationships.

During a recent sales cycle with a prospective new client, the number of “touches” I experienced between initial contact and a signed contract was two. This was not a trend. This was an isolated incident, specific to the players involved and the services being offered.

In other situations, I have maintained contact with prospects over a number of months. I have had prospects ask me to “Call back in a month,” which in reality meant “I’m willing to bet that if I call you back in a month, you will either forget or give up, and I won’t have to tell you yes or no.” I’ve had other prospects make the same request, and when I called them back in a month, the sales process moved forward. On some occasions, the follow-up call resulted a closed sale. Making the call is what made that possible.

A good friend who runs marathon races and seldom finishes first, second or third was once asked how he felt about crossing the finish line after many of the participants had already left. His reply was “I beat all of the people who stayed home.” The same is true for professional salespeople. Your persistence will pour out the gold that might have gone to the other salespeople who gave up too soon and too easily.

You can never really know in advance if the “sure things” will go belly-up or the “long shots” will come through for you. You also cannot pin all of your hopes on a few “wobblers” in your pipeline. At some point, you need to purge those who are not interested or not qualified in favor of those who are. But the only way you can achieve that elusive “Top 2%” of sales success is to use your intuition, be persistent, and view your sales education…no matter how lengthy or credentialed or impressive it might be…as nothing more than a launching pad that allows you to go into each new selling situation with a clear mind, a fresh perspective, a desire to win, and the confidence that comes with knowing that by consistently and earnestly practicing all of the disciplines above, you are already a winner.

“Let a man then know his worth, and keep things under his feet. Let him not peep or steal, or skulk up and down with the air of a charity-boy, a bastard, or an interloper, in the world which exists for him. But the man in the street, finding no worth in himself which corresponds to the force which built a tower or sculptured a marble god, feels poor when he looks on these. To him a palace, a statue, or a costly book have an alien and forbidding air, much like a gay equipage, and seem to say like that, ‘Who are you, Sir?’ Yet they all are his, suitors for his notice, petitioners to his faculties that they will come out and take possession. The picture waits for my verdict: it is not to command me, but I am to settle its claims to praise. That popular fable of the sot who was picked up dead drunk in the street, carried to the duke’s house, washed and dressed and laid in the duke’s bed, and, on his waking, treated with all obsequious ceremony like the duke, and assured that he had been insane, owes its popularity to the fact, that it symbolizes so well the state of man, who is in the world a sort of sot, but now and then wakes up, exercises his reason, and finds himself a true prince.”

From Ralph Waldo Emerson’s essay Self-Reliance. Now go sell something to someone.

Here are six recession response strategies to help you profit in the current economic climate.

Response #1: Ensure every lead opportunity is being handled and accounted for properly. Many business don’t realize they get good leads, everyday, that “slip through the cracks” – and who can blame em’ ya don’t know what ya don’t know. If you can identify and “plug up the holes” in your customer acquisition funnel – your lead generation and sales process will become more efficient. An efficient lead gen process will free up cash and give you flexibility to put more resources into advertising and sales initiatives. Tips for making customer acquisition more efficient. 1.) Track response from all forms of advertising and marketing – drop the ads that don’t produce response and spend more on those that do produce a direct response. 2.) Hone your sales process at the initial point of contact when people call your office, walk into your business or complete a lead form online. Pay closer attention to those factors that result in sales. Most of your competitors will not take the time to measure response, script their sales process and identify which forms of marketing are most effective. Most will simply reduce spending money on customer acquisition initiatives (advertising, sales and conversion strategies). In the past you may have been able to get away with sloppy or half-hearted marketing and sales, but tight times expose weaknesses.

Response #2: Employ the “Glutton at a rainy picnic principle.” Imagine you’re at a picnic BBQ and it starts to rain. All of your friends and family run for their cars, but you stick around. Now you can eat to your heart’s content without competition. If you stick it out through the rain and let the storm pass you get first pick of all the vittles you like. The same is true when recession proofing. Most businesses knee jerk reaction is to “hold everything.” Tighten the belt – run for the hills. But before you do that, find your “rainy picnic” opportunities. Start using a media outlet or ad source that your competitors have bailed on because of they think it’s too expensive. Find the opportunities that come with change and make bold moves to capitalize on the new circumstantial change.

Response #3: Leverage adjacent marketing and sales strategies. Because everybody is “feeling the heat” or worried about the changing economy develop relationships with other companies to pool resources and refer internally. Devise a strategy to offer your customers more service, special offers or other incentives to do business with you because of your relationship with fellow business owners. For example: If you sell auto parts, develop a relationship with a service station for discounts on gas (of course only available through your store). Develop a relationship with an oil change station, etc. Workout a mutually beneficial referral system that gives each business a better shot at a customer. I guess you could call this a Co-Op Win-Win.

Response #4: Don’t sing the Recession Blues around any staff what-so-ever. If people feel like they have a reason to fail some of them just might – don’t give em the opportunity. It starts at the top…all that stuff. Don’t ignore reality, be willing to speak candidly about the changing circumstances that impact your business, but don’t emotionally “throw in the towel.” With the exception of a handful of businesses…the market still exists for what you sell. Somebody somewhere is buying what you’re selling. The question is are you positioned well enough to be the one to sell it to em’ and are you capitalizing on every opportunity? (see tip # 1)

Response #5: Riches in Niches. Specialization allows you to charge premium prices vs more generic competitors. And it affords you a stronger position in the minds of your customers. For example Whole Foods specializes in organic groceries. They can charge more, as they build a loyal customer base who continues to buy from their store time and time again. Think of Whole Foods vs Food Lion or Giant or Harris Teeter or whichever basic grocer is in your area…Whole Foods competes with those stores, but they don’t have the same level of competitive threat the other more generic grocers have with one another because they have a niche. Essentially you can elevate your business out of the competitive mire by developing a niche position in the market – great for recession proofing.

Response #6: Get more from what ya got – focus on your existing client base. According to the late Peter Drucker (these are old ratios, but relevant) your business has a 1:14 chance of doing business with someone with whom you have never done business, you have 1:4 chance of doing business with someone with whom you have had a relationship but have stopped and you have a 1:2 chance of doing business with an existing customer. So, what does this mean? A great recession proofing strategy is to communicate more with your existing customers – focus marketing and sales resources inward. Build a loyal herd of followers and use your client base to drive referrals.

© 2008-2009 Ryan Pitz, President, New Call Solutions

This article has been reprinted with the author’s kind permission:

Ryan Pitz
President, New Call Solutions
Website: www.newcallsolutions.com
(866) 231-2055 toll-free
Email: info@newcallsolutions.com

Rocky, Rocky, Rocky

Does the present state of the economy have you feeling like Rocky Balboa after his first match with Apollo Creed? Do you get an empty feeling in your stomach every time you fill up your car’s gas tank? Do you wish that you could close your eyes and wake up when it’s all over?

Don’t Join The Club

Many sales people feel that way in these turbulent times. The question is, “What are you going to do about it?” Wringing your hands and mumbling to yourself will not change anything. The government will not change anything. The economy will not change anything. There is a sales group out there who belong to the “Chicken Little Club.” Don’t join the club. (click or copy and paste this link to see my article on Chicken Little: http://www.bonura.com/articles.html)

You, You, You

The only thing that can change anything is you. That’s right, YOU! When times are bad, it is time for YOU to be good, not just good, but great. Are you stuck on ready, set? In a race, the starter says, ready, set, go. Most people get stuck on ready, set. They don’t GO.

Just Do It

Nike had an answer for all of those stuck on ready, set. In my opinion, it was their best commercial ever . . . “Just Do It!” Stop sitting around feeling sorry for yourself, and stop waiting for someone else to get the ball rolling. Rock and Roll your own ball. Just keep in mind that when times are tough, the tough get going, and the competition falls by the wayside, losing to those who are out there making things happen.

Pick It Up

Take a look at your client list today, and pick up the phone and start calling. Use the “magic pointer” system: Put your finger on the page and pick a number, any number. Give them a call. When you hang up the phone, pick it up again and dial again, and again, and again. Before you know it, you will be in the calling mode, instead of the crying mode. Leave the tears to the competition.

Your Worst Enemy

The only thing that hinders your success is You. Step aside and move yourself to the next level. The cartoon character Pogo said, “We have met the enemy, and he is us.” You can change your results by changing your actions. Actions do speak louder than words. Stop feeding yourself negative thoughts, and you will open the door to success, in spite of a poor economy.

Fill It Up

Rather than concern yourself with the cost of gasoline, simply earn more money so that you can afford the gas, and not worry about the cost. The key to making more money is making more sales calls. I have experienced many so-called slow periods, and at the same time, I have had some of my best years in those economically poor years. Why do you suppose? Because the playing field is narrowed, and there are fewer proactive sales people in the competition.

Ready Or Not

Are you ready, or not? It is up to You. There is only one vital alternative, and that is to take action. I can still see Rocky, after his tenth knock-down, taunting Apollo to continue fighting. Get off the mat now. Pick up the phone now. Make some sales calls now! What are you waiting for? Take the fight to the economy; don’t let the economy take the fight to you.

© 2008-2009 Joe Bonura & Associates, Inc.

This article has been reprinted with the author’s kind permission:

Joe Bonura
Joe Bonura & Associates, Inc.
Website: www.bonura.com
407 Landis Lakes Court
Louisville, KY 40245
(800) 444-3340 toll free
(502) 244-0087 phone
E-mail: sales@bonura.com