Sales Development & Training 7/23/13

Agenda Updates Prospecting Techniques – Networking Time Management & Organization – Organizing Follow Ups Selling Techniques – Objections Open Discussion

Prospecting Techniques

Networking

Prospecting Techniques Networking – Networking is an incredible way to get in front of a large group of clients and referral partners in one shot – Networking is not so much about selling to the people who are at the event, although you will find client opportunities there, it’s more about finding good referral partners with whom you have the potential to pass business back and forth

Prospecting Techniques Networking – Finding Good Referral Partners Mid-Sized Business – Commercial Bankers – Transactional Attorneys (Real Estate, Business, Buy/Sell, etc.) – Commercial Real Estate Brokers/Agents – Executive Coaches – General Consultants (marketing, management, etc) – Accountants – Commercial Insurance Brokers Small Business – Business Lawyers – Business Bankers – Business Loan Officers – Business Coaches – Marketing Specialists (SEO, Graphic Designers, Copywriters etc)

Prospecting Techniques Networking – Knowing the Right Client Retail (both Main Street shops and larger organizations) Professional Services (law firms, accounting firms, IT Services, etc) Dentists (cosmetic, general, restorative, etc) Manufacturing (what's left of it here in town) Any organization with a sales force (from 5 sales reps on up) Anyone with a new business or looking to start a business

Prospecting Techniques Networking – Mixers Networking mixers happen over breakfast, lunch and happy hour When looking for networking mixers, look for active event calendars (at least one per month, preferably 2-4 per month) Evaluate the attendees (are there a disproportionate amount of MLMs, sales people, new businesses, people who are clearly struggling to make ends meet, etc)

Prospecting Techniques Networking – Follow Up Meetings This is the time to have a more direct and expansive conversation with a potential referral partner These are typically coffee meetings or drinks over happy hour

Prospecting Techniques Networking – Follow Up Meetings You should always leave a follow up meeting having discussed these things (preferably in this order): – What they do and what makes them special – Who their perfect clients are – Who their perfect referral sources are – What we do and what makes us special – Who our perfect clients are – Who our perfect referral sources are – Other networking opportunities you may have for each other

Prospecting Techniques Networking – Follow Up Meetings You should always leave a follow up meeting having discussed these things (preferably in this order): – What they do and what makes them special – Who their perfect clients are – Who their perfect referral sources are – What we do and what makes us special – Who our perfect clients are – Who our perfect referral sources are – Other networking opportunities you may have for each other

Prospecting Techniques Networking – Organizing Your Own This is a great way to “put yourself on the map” if you run it properly The goal here is simply to expand your network and get to know more people We’ve done hosted cocktail parties, organized happy hours and fundraisers with plenty of success

Prospecting Techniques Networking – Organizing Your Own Location selection and preparation is key – If you’re going to have it at a public place, you have to have a way to identify people who may be attending that you don’t know yet – Coordinate with the bar tender and host/hostess so that they know that people may be joining you for an event there – Be sure to arrive at least 15 minutes early so that you can greet people and handle any last minute details

Prospecting Techniques Networking – Target Breakfast Groups These are power partner groups we put together for active, targeted networking Should meet monthly or semi-monthly Shouldn’t be any more than 10 people (including you) This group should be a carefully selected group of trusted referral partners who are actively selling into similar accounts (employee size, revenue size, location, etc)

Prospecting Techniques Networking – Target Breakfast Groups Meet over breakfast to discuss any target accounts – Everyone comes to the breakfast with five “target” accounts they’d like to meet with to try to sell in to – Go around the table and discuss these accounts and anyone who “the table” knows in the account to talk to – After the breakfast, everyone walks away with each others’ target account lists and looks for opportunities to refer each other into those acounts

Time Management & Organization

Follow Ups

Time Management & Organization Follow Ups – Different types of follow ups should be handled separately – Follow ups fall into three categories Prospecting Sales General

Time Management & Organization Prospecting Follow Ups – Prospecting follow ups are any follow up activity that must be done to get an initial sales meeting with a new prospect – Prospecting follow ups come from Cold calling (typically in the form of an and a follow up phone call) Canvassing (typically in the form of a phone call to schedule a meeting Networking (typically in the form of soliciting an introduction from a referral source who’s said “I should introduce you to…”)

Time Management & Organization Sales Follow Ups – Sales follow ups consist of anything that needs to be done to move the sales process to the next step – Typically these follow ups come in the form of proposals, s, information gathering, meetings, etc

Time Management & Organization General Follow Ups – These are people you need to follow up with for no real reason, just to keep the relationship strong – Typically these are ancillary referral partners, “prospects” who have a very small percentage chance of converting to clients, etc – THESE FOLLOW UPS SHOULD ONLY BE HANDLED AFTER PROSPECTING AND SALES FOLLOW UPS ARE ALL COMPLETED

Time Management & Organization Organizing Your Follow Ups – Follow ups in each category should be separated into three “silos” A: Hot. These leads want to take an initial meeting; the prospect is actively looking to make a buying decision in the near future B: Warm. These leads are interested in initial meetings but need a little more information; the prospect wants to do something but doesn’t really have a timeline C: Cold. These leads didn’t give you any indication they were interested but said to “send me information”; the prospect may want to do something but doesn’t have a timeline or a budget

Time Management & Organization Organizing Your Follow Ups – Handle your follow ups in the following order Prospecting – A – B Sales – A – B General Follow Ups, Prospecting C & Sales C

Selling Techniques

Objections

Selling Techniques Objections – These are objections during the sales process (completely different from handling objections during the prospecting pitch) – Objections are a requirement to a successful sales day. In fact, without them, you’re likely not engaging your prospects and customers. – Objections help you further qualify a sales opportunity and better understand the needs and current environment of your prospects

Selling Techniques Objections – When companies and individuals have an objection to closing a deal, it’s one or some combination of eight true objections – Understanding the true objections will help you get one step closer to where you need to be – whether it’s to the next stage with your current prospect or investing your time elsewhere.

Selling Techniques Objections – The Eight Objections Lack of perceived value in the product or service Lack of perceived urgency in purchasing the offering Perception of inferiority to a competitor or in-house offering Internal political issue between parties/ departments Lack of funds to purchase the offering Personal issue with the decision maker(s) Initiative with an external party Perception that “it’s safer to do nothing”

Open Discussion