Shorten Sales Cycles … By Capitalizing on Trigger Events By Craig Elias

Jed (a hypothetical salesperson) keeps getting what sound like positive buying signals with his prospecting calls. Somehow, though, he’s not getting very far.

"People tell me to call back in two months, four months, six months, when they will be looking at this problem” he says, perplexed. “When I call back, I get people telling me how glad they are that I called ... but my close ratio is low, and my sales cycles are way too long. What's going on?"

In response, I would give Jed the following advice.

“Jed, when you cold call someone in an attempt to sell them something, you're interrupting that person's day. The dominant instinct is always going to be for that person to find any reason to get off the phone and get back to what they were doing before you interrupted them.

"Your goal has to be to maintain your poise and get past that first fifteen to thirty seconds of the initial call ... which is always going to be a little bumpy.

“But -- the reason you're riding out those first fifteen to thirty seconds is not so you can try to turn the person into a short term prospect on the spot!

"Actually, you're trying to discover if this person has experienced a Trigger Event. If there has been such an event you want to find out what it was and when it happened. The Trigger Event could have taken place quite a while ago, it could have happened only recently, or it could still be on the horizon.

“These Trigger Events typically fall into one of three categories:

1. Bad Experience: The buyer has a bad experience with a product/service, with people, or with a provider. For instance, there may have been a product/service change that creates dissatisfaction.

2. Change / Transition: The buyer has a change or transition in people, places, or priorities. For instance, there may have been a change in the buyer at an account.

3. Awareness: The buyer becomes aware of the need to change for legal, risk-avoidance, or economic reasons. For instance: The person may have a new understanding that buying from someone like you is less risky than continuing to buy the existing solution.

“During the first minute of your call, use the opportunity to understand which of the following three buying modes the buyer is in:

"Status Quo: The buyer is completely happy with what he or she currently has. There has not been a Trigger Event in the recent past, but there may be one on the horizon. You may think this person is a waste of time and may want to move on to the next person on your list. Actually, if this person has money, authority, and influence, this is a great long-term opportunity. A strategy for this type of call is to start the relationship building process. I would also suggest that you check back in on a monthly basis to see if a Trigger Event has recently happened.

"Searching For Alternatives: This person is unhappy with what he or she has, has spoken to several suppliers, and probably already has a favorite. A Trigger Event took place a while ago, and they've already taken action on it. You may think that this is a short-term opportunity ... because the buyer is actively talking to a number of potential suppliers. This is in fact probably a medium term opportunity … because it is highly likely this buyer already has a first choice!

Selling to buyers under these conditions typically results in a lower close ratio and a longer sales cycle – exactly the problem that you are experiencing. A strategy for this type of call is to position yourself as the buyer’s number-two choice -- so you get called first if the buyer's current favorite falters. You should check back every other week to see where you stand.

"Window of Dissatisfaction: A Trigger Event has recently taken place and this buyer knows that what they are currently using is no longer sufficient, but has not done anything about it yet. Because they tell you to call back in two months, four months, or six months you make a note to do that and move on to the next person on your list. Wrong answer! This is actually a short term opportunity, because the buyer is not talking to your competition -- yet.

When you call back a few months later, even if you call a few weeks early thinking it will give you and edge, it’s very likely they will already be talking to your competition. The strategy for this type of call is to identify the business opportunity and pursue it immediately -- with as much happening on this initial call as possible and future contact taking place in the very near future. You must find a way to push a little bit and learn more about the Trigger Event, then try to set a near-term course of action.

“As it stands, Jed, you are focusing on those people who are already talking to your competition … and missing the biggest opportunities: those buyers in the Window of Dissatisfaction, who recently experienced a Trigger Event and have not started talking to your competition. That’s why your numbers are as bad as they are; that’s also why your sales cycles are so long.

“Jed, you need to do a better job of ‘staying on your feet’ for the first thirty seconds or so of the call -- long enough to ask a couple of questions that will help you learn whether the person has:

• Not experienced a Trigger Event in a long time
• Experienced a Trigger Event a while ago and already doing something about it
• Recently experienced a Trigger Event and has done nothing about it --– yet

“Once you learn if, and when, a buyer has experienced a Trigger Event you can apply the appropriate strategy. When you do that, and focus FIRST on those people in the Window of Dissatisfaction, who recently experienced a Trigger Event and have done nothing about it yet, you will have a much higher close ratio ... and you’ll have much shorter sales cycles!”
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The creator of Trigger Event Selling, Craig Elias has received coverage on NBC news, in The New York Times, The National Post, Sales and Marketing magazine and won a $1,000,000 prize in a billion dollar idea competition. For almost 20 years Craig used Trigger Event strategies to be a top sales performer at EVERY company he worked for. You can contact Craig by phone (+1.403.874.2998), Skype (Craig.Elias) or web.

Read more sales tips from Craig Elias ...
- Sell More: How to Get Motivated Buyers To Call You First

* what did you think of the advice you just read -- did anything stand out as particularly helpful or insightful? Anything you'd like to add or share that would be helpful to other sales professionals like yourself?

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The Business Productivity Close By Tom Hopins

Upgrades, changes, and new services create interest for nearly any business client. If the new product or service is seen as a ‘plus' by the staff, they'll be enthused and energized because of it.

Since keeping people motivated is one of the primary challenges of management, this close can hit on a decision-maker's hot button that has little to do with the actual product or service itself. It has worked many times to “knock 'em off the fence” when hesitating about a decision.

Phraseology: “Mr. James, what I'm offering is not just a product/service. It's a boost in employee morale. Haven't you noticed that anything new increases job interest and excitement? Excitement increases morale, which in turn increases productivity. Let me ask you, Mr. Johnson, what is an increase in productivity worth to you?”

These five sentences take the decision-maker's focus off the product/service and put it on the results. Try them the next time your decision-maker is hesitant about making a decision you know is truly good for their company!
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What Do Your Exit Polls Say? Six Steps to Sell More Now! By Tim Wackel

The last several months have been very interesting if you’re a political enthusiast. I’ve watched candidates travel across the country, shaking hands, kissing babies and spending millions of dollars trying to win their party’s nomination.

There is an abundance of talking heads analyzing every move that the candidates make. Most of it has become information overload to me, but I’m very intrigued with the concept of the exit polls. These quick and painless interviews are used to collect data and find out why people voted as they did.

So how can you use exit polls to help sell more?

Unfortunately there are many sales people who believe the selling process ends as soon as the ink on the contract is dry. Nothing could be further from the truth.

Why work countless hours to win the business and then disengage once the order is received? This is your opportunity to shine!

Follow up is a key to sales success, and implementing your own exit poll should be just one tactic in your overall methodology.

Not sure how to leverage an exit poll? Here are the six steps you need to start today. I’m not going to share some theory that I’ve created. I’m sharing the same methodology that I use myself. I can’t guarantee that it will work for you, but I can guarantee that it works!

#1. Do it now! - Don’t wait to get your customer’s feedback. You want to hear from them while the selling experience is still fresh in their minds. Ask for their opinions sooner, not later.

#2. Set the stage. - It’s important to demonstrate value in your exit poll. Treat this as an important process, you’ll get better feedback from the customer.

Send an invitation asking the customer to participate in a short interview specifically designed to help you learn how to serve (not SELL!) them better. Tell them their feedback is important and that honest communication is a valuable part of any successful relationship.

#3. Use a third party. - Let the customer know that someone else from your organization will conduct this brief interview. Please don’t conduct the interview yourself. When you get involved in exit polls, one of two things happen: you either won’t get the truth or you won’t hear the truth.

Don’t have the in-house resources to conduct these interviews? Then contract with someone to do them for you. I’ve had great success using a virtual assistant and you can find plenty of them via the internet. Find someone you like, trust and believe you can develop a relationship with. Sure it costs a few bucks and you may even have to pay out of your own pocket. Trust me, you will be glad you did.

#4. Be prepared! - If you want this process to work, you need to diligently prepare the questions that you want explored. Script these carefully and be sure that the interviewer is comfortable in asking for clarifications, examples and explanations.

I like to ask whether or not I met my client’s expectations. What, if anything, made me different from other sales trainers they’ve used? How else could I help drive results forward? What changes do they expect to see and how will those impact the bottom line? And the most important question that most sales people don’t ask; why did you buy from me?

You’re probably only going to get one shot at getting this data—make it a good one!

#5. Leverage the learning. - Treat the exit poll as your opportunity to get ahead of the competition. I’m amazed at how often clients tell us that they’ve never experienced this type of follow up after a sale. This alone sets you apart from the rest of the pack!

Very few sales people take the initiative to discover the real reasons why customers buy from them. Everyone has theories, and most of these revolve around how great they are as a sales rep. But is that the whole truth?

Once you begin to understand the real reasons why they buy, you can fine tune your entire approach. And that is when the magic begins to happen!

If your poll discovers an extremely satisfied customer, have your interviewer circle back in a few days. Revisit the highlights of the exit poll conversation and ask permission to use their words or invite them to become a referral account.

If your poll discovers a dissatisfied customer, you’ve created the perfect opportunity to swoop in and fix it!

#6. Always say “thank you.” - A hand written thank you note after completing the exit poll is personal, powerful and professional. Those are three words everyone would like to have on their resumes and a great way to leave the door open for future opportunities.

To sell more every year, you need to get better every year. I hope these ideas will help take you to the next level.

Speaking of Sales is about finding, winning and keeping customers for life.

Until then,

Tim
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Tim Wackel is one of today's most popular business speakers who has mastered the ability to make information entertaining, memorable and easy to understand. He combines more than 20 years of successful sales leadership with specific client research to deliver high-impact programs that go beyond today's best practices. Tim's keynotes and workshops are insightful, engaging and focused on providing real world success strategies that audiences can (and will!) implement right away. Tim Wackel, President and Founder of The Wackel Group, 214.369.7722, www.timwackel.com, tim@thewackelgroup.com

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Are You Hosting A Summer Sales "Pity Party"? By Kim Duke

Anyone who knows me... understands I am not a huge fan of whiners.

In fact - I try to get away from them as fast as I can get my stilettos moving ( and believe me - I can sprint !)

And yet - at this time of year and right up until September -I will hear these sad little comments from all sorts of business people:

• Summer is always slow for business
• We/I always struggle for sales during the summer months
• I can't invest in my business/market myself/get a website etc as I don't have cash flow right now

And then you know what they'll do?

Because sales are slow/cash flow is tight - they whine all summer long as they doddle the days away.

Then when September hits they start complaining about how slow the Fall is. Oh and puh-lease - don't forget about Christmas and how slowwwwwwwww that season is for "non-retailers".

Those excuses are as bad as the people who eat Double Bacon Cheeseburgers and then order a Diet Coke.

Give this Sales Diva a break! Quit Hosting The Pity Party and Increase Your Sales Instead!

In selling - you don't get any points or MONEY for good intentions - only results.

And if you want results - then you have to start being pro-active, persistent and progressive. (how can you tell I lovvvvvvvvvve alliteration?!)

Here Are Some Scary Secrets About Selling:

• You Must Sell a Minimum of 90-days ahead. Why? Because if you wait until the month you need the revenue - your competitor has already been there and snapped up the budget. (The old adage "The early bird catches the worm" still holds true!) Plus - when you are desperate you start chewing your nails. Never a pretty sight.

• Customers Are Always Buying or Planning To Buy. Hate to break it to you but just because you want to go golf/sun tan/camping- doesn't mean the entire world comes to a grinding halt. Customers are always buying. Let me repeat this phrase - customers are always buying! They just aren't buying your product or services because you have dropped out of their radar.

• Summer Is A Fabulous Advantage For Fantastic Salespeople. Yes - I count myself in this club ( my customers tell me so!) As I know the rest of the world has dropped the ball - I stay in front of customers and potential customers on purpose. I stand out because the competition/noise is small or non-existent. So there.

If your summer sales are slow I can guarantee you were focused on something else 3 months ago. And you dropped the ball. Well - now you need to get a move on and start planning for August and September or you will be re-living your current cash crunch all over again. (and we all know how much FUN that is)

You can do it. Start contacting your existing client base. Take some potential clients for lunch/coffee/greasy breakfast. Improve your skills. Get that e-zine launched. Get your sales and marketing efforts in high gear!

Definitely enjoy your summer and have fun but remember one thing. You have to make time for your business consistently or your sales will dry up like the Sahara Desert. And when you're broke and grouchy - you just aren't much fun to be around!
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Kim Duke, The Sales Diva, provides savvy, sassy sales training for women small biz owners and entrepreneurs. Kim works with clients internationally, showing them The Sales Diva secrets to success! Sign up for her saucy and smart e-zine and receive her free Bonus Report The 5 Biggest Sales Mistakes Women Make at SalesDivas.com.

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