Posts Tagged ‘sales’

Stellar Sales Tips from Jill Konrath – Bestselling Author of Snap Selling

Thursday, February 17th, 2011

Are You Losing Them at Hello?jerrymaguire_2

Guest Post by Jill Konrath

In the movie Jerry Maguire, when Tom Cruise is in the midst of his proposal to Dorothy, she stops him with, “You had me at hello.”  Every seller dreams of hearing those exact same words when they approach corporate decision makers.

Unfortunately, the opposite usually occurs. Instead of capturing their prospect’s attention, most sellers create resistance with their opening remarks and blow the opportunity.

Why do bad things like that happen to good people?

In short, weak value propositions.

If you’re running into trouble cracking into corporate accounts, most likely the root cause is your failure to clearly articulate the business outcomes that customers realize from using your products, services or solutions.

A couple weeks ago, I did a new exercise while training a group of sellers. In small groups, they rated common value propositions that sellers could use when prospecting for new customers.

Using a 1-10 (tops) scale, they evaluated value propositions such as these on their effectiveness in initiating change from the status quo:

__ We offer one-stop shopping for all your (fill in the blank) needs.

__ We’re the industry leader in (fill in the blank) and have been recognized for our exceptional (fill in the blank).

__ We specialize in ( fill in the blank) and work with well-known clients such as Microsoft, Best Buy and Kraft.

After serious discussion amongst the sellers, these value propositions received scores between 4-6. Their rationale? They were nice benefit statements about the company, but not quite as punchy as they could have been.

Since my book, Selling to Big Companies, was required reading prior to the session, I assumed these sellers would ace this exercise. Not so! In fact, they were way off.

The truth is that all the above value propositions really deserve a score of one. Not four. Not six. Just a measly score of one.

“C’mon, Jill,” you might be saying. “How can that be? They’re not horrible statements. They’re nice.”

Yes, they are nice. I’ll give you that. But they’re grossly ineffective and that’s why they rated so poorly.

Capturing the Decision Maker’s Attention

While those commonly used value propositions listed above might be important at some point in the decision process, they’re totally and utterly worthless when prospecting.

When it comes to capturing a decision maker’s attention, here’s what you need to think about:

  • Strong value propositions pique curiosity and entice. When prospects hear them, they want to learn more.
  • Strong value propositions create a stark contrast from the status quo. When prospects hear them, they’re willing to consider making a change.

Consider this: If you were on the other end of the phone and a seller called with this message, what would your impression be?

“Eric. Jill Konrath calling from Selling to Big Companies. We offer one-stop shopping for all your sales training needs – everything from lead generation to closing. We use state-of-the-art methodologies to ensure our training sticks.”

Does it entice you? Not one iota. Does it get you to consider switching sales training vendors? Not likely. Does it make you want to invest lots of money that’s currently allocated elsewhere? Not on your life.

Statements about your company and what it does are NOT value propositions. Period. They are not value propositions.

If you want to get decision makers “at hello”, you need to clearly articulate the results the customers can expect from using your product, service or solution. That’s results, spelled R-E-S-U-L-T-S.

For example, a few months ago I trained the national accounts team of a well-known media company. All sellers identified one large corporate client with whom they wanted to set up a meeting.

As a result of the workshop, 87% of the sales force landed an appointment with their targeted account.

Those outcomes are unheard of in my business. Virtually every Vice President of Sales will want to learn more.

That’s the power of a strong value proposition. Even decision makers who weren’t considering a change will think it’s worth their time to find out about the sellers offering.

If you really want to “get them at hello,” then make sure you:

Talk results.

Decision makers don’t care about your products or services. They only care about the results they’ll see. Stress that and you’ll catch their attention. Omit those results and you’ve lost them.

Get real.

Refer to actual client successes and include measures or statistics. Success stories from other companies in their industry are especially compelling. By giving specific examples, you really pique their curiosity.

Test your message.

After you’ve planned what to say, ask, “If I were the decision maker, would this message entice me? Would it make me want to spend an hour of my valuable time with this person?”

If your answer isn’t a resounding yes, rework and revise your message till it is enticing. Don’t leave it to chance. Don’t hope that it will work. Your job is to make it so compelling that your decision makers “get it at hello.”


Konrath-yellow-blouse1-212x300Jill Konrath’s fresh sales strategies, provocative insights & practical advice help sellers win business with crazy-busy prospects.  She’s an internationally-recognized author and popular speaker at annual sales meetings, kick-off events and professional conferences. Learn more about Jill Konrath and her company here.

This post originally published at Selling to Big Companies blog at http://sellingtobigcompanies.blogs.com/selling/2008/06/are-you-losing.html. Reprinted with Permission.

http://sellingtobigcompanies.blogs.com/selling/2008/06/are-you-losing.html

Five Mistakes to Avoid In Hiring Your First Sales Rep

Thursday, February 17th, 2011

You are the CEO of a hot new company.  You have an exciting product concept that will provide significant positive ROI for your business prospects.  Your engineering team has done a great job executing, transforming the concept to a robust product in record time.

You have been out selling your game changing product to your network of contacts, and have convinced several to install AND pay for your product. It is time to hire dedicated sales people. Beware – it is easy to believe that this it is simple to hire a sales team. It isn’t and these mistakes can cost you precious time and money.

The five mistakes are summarized here:

  • Hiring a strategy-minded VP of Sales instead of a strategic Sales Person
  • Hiring a number of sales reps prior to establishing a proven sales process
  • Paying sales reps on commission only
  • Hiring seasoned pros from big industry players
  • Attempting to leverage the reseller market

Five Mistakes To Avoid – Explained

  1. Once you are at the point of building out a sales organization, the type of experience described above may be valuable, at this point go find a strategic sales person, not a sales manager.
  2. Hiring a number of sales reps prior to establishing a proven sales process with one or two reps will guarantee you an increase in expenses, but not an increase in revenue.
  3. You need a strategic sales resource, a team player, by putting that person on commission you will get a tactical resource, focused on their own needs.  That may be appropriate later, but not now.
  4. Your old colleagues who are great sales people, used to making lots of money on high volume sales performance. Without an established product, they will likely be completely lost in this unstructured environment, whining about prospects that cannot make a decision, a product that is incomplete, and a sales support infrastructure that is not fully baked.
  5. You know there are resellers who would love to represent your product to their extensive customer base.  The challenge at early stage in your market development activity, you need to be fully in charge of explaining your new product to the marketplace, and responding to issues.  This is the ideal to listen and respond to customer feedback. There will be a time for a reseller strategy, but it is not now.

Your customers and prospects will look to you for answers. They will be expecting that your sales team will know how to help them. You have to make sure you have the right sales person for the right phase of your startup’s growth and allow you to gain revenue traction.

Note:  I would love to hear your experiences in managing your startup and how you’ve built your sales teams. I may be able to use your company and ideas in a future post.

4 Reasons NOT to listen to the siren song of the Channel too early

Tuesday, September 8th, 2009

Over the last 10 years at Altus, and for many before that, we have seen, or sometimes (unfortunately) been a part of, many misguided efforts to prematurely develop an alternate or indirect sales channel. Entrepreneurs often mistake a channel partner for an armed and ready sales force. Or they are simply in a rush to become a global company before testing and validating the product and sales process in their own backyard.  And in these tough economic times in particular, the compulsion to grow a channel and the factors the effect their success are even more prominent.  Here are the top 4 reasons why I’ve seen premature efforts at developing channels fail.

1.  The Product is not Proven

We worked with one client with a cleaver advertising technology. Early in the initial launch cycle, an opportunity popped up with what could have been a large and strategic partner in taking our product to market.  With very little field results and nothing more than blind faith in the development, we jumped on the opportunity and quickly secured a large and joint customer.

Unfortunately, the product failed to deliver as promised which resulted in a black eye with the end customer and more importantly with the goose that was to lay the golden eggs. The simple truth was that the product wasn’t ready; it hadn’t been rigorously tested either in house or with smaller beta clients.

2.  Lack of Demand

To this day we still get sucked into the trap of beefing up forecasts too high based on the belief that the new market leading channel partner is going to add our widget to their line-up.  More often than not, unless you are the ones feeding the demand (or there are performance guarantees), the partner will likely come up short of your expectations.  The relationship gets strained right out of the gate and the certain success is a big question mark.

The safer assumption is that channels are good for fulfillment, not for demand. Don’t expect your partner to market your product and drive demand.  If it happens, great…just don’t sign them up, check the box as mission complete and move on to the next market or territory.  They may sell it, but they likely aren’t dependent on its success—at least not the way you are. The ideal scenario is you spur the demand and then you channel (pun intended) that demand to your partner, even if you could satisfy it on your own. This way you get your partner started down the right road, give them some experience selling your product, and pave the way for a mutually beneficial relationship. Do not get lured into the trap of selling partnerships instead of customers.

3.  Lack of Sales Tools

We had one client in the Telco space where the CEO was a master at the pitch and demo and was a high-odds closer.  Following a few big wins, they believed it was time to bring on a channel.  However, again the expectations were not met, in this case because the partners did not have the CEO’s talent and experience.  Even more than the company’s own sales team, channel partners are hugely dependent on easy and effective sales tools to close deals.  Unfortunately, most of the time a misalignment occurs in which the company expects the partner to have the tools and skill required and the partner on the other hand expects them to be supplied.  Often more problematic is when the partner does not even ask and the result is an ill-equipped channel team that simply does not deliver.  Have you armed your partner with the tools—an ROI calculator, case studies, PowerPoint’s, demos, white papers, brochures, one-sheets, etc? Have you given them a proven process with proven tools? “Just get people on the phone and talk to them” may have worked for you, but that is not a scalable recipe for channel success.

4.  Lack of Sales Support

Last but not least—do you have dedicated resources to support the channel? One Altus client, a media entertainment company, successfully recruited a number of data partners that were logical and complementary to their offering.  But beyond the initial sales training there were no resources dedicated to supporting them. The results were again a shortfall of expected and planned revenues largely because the follow-up to questions and overall availability of sales and technical support was too slow.  To be effective and meet those forecasts you should have the same level  (if not greater) of customer-experienced support all fully available and prioritized to be responsive and proactive. Ideally there is a period of mentoring and team selling that both helps see how the process is done effectively and builds a strong rapport between the teams created.

So perhaps the adage, ‘Be careful what you wish for’ is a good one to keep in mind as you think about channel expansion. I’ve seen companies desperately wish for a channel partner and then get it, only to find that they weren’t ready. They didn’t have a ready product, or the necessary demand, or the tools and processes and people needed to support their partner. The result is often worse than a failed customer because of the broader reach.  What looked like a boon can sometimes be a bane.