Vital Signs Day 18 to The 28 Days to Better Selling
Revenues are not a measurement, neither are deals closed, they are results. They are a result of core habits and behaviors driven into practice over time with discipline. With any sales goal, you first have to start with an annual dollar figure that is broken down quarterly, monthly and even the daily. Achieving that goal of course is dependent upon the activities we put into our plan.
Anthony McAleer top producing financial advisor for London Life says it this way: “If you’re not getting the results you want, you’re probably not doing the core activities.” Jim Janz, multi-million-dollar direct sales magnate calls these activities “vital signs.”
Vital Signs
When paramedics arrive on the scene of an accident they will check the vital signs of those injured. Just because someone is standing upright and talking does not mean they’re healthy. Some vital signs to look for are:
• Balance
• Checking if the pupils in the eyes respond to light
• Blood Pressure
• Heart Rate
• Breathing Rate
• Brain function and nervous system response
• Sensitivity to palpation
• And many other factors
If any of these signs are out of sync, there is a chance that the injured is presently in danger, or could experience difficulties later on.
Your business, because you are a business of one, is responsible for bringing in revenues and turning a profit, has vital signs. Just because you’re making phone calls and networking doesn’t mean you have a healthy business. Revenues alone don’t mean your business is healthy.
Depending on your business some of your sales vital signs could be the number of:
• Calls per day
• In person meetings with clients
• Proposals written
• Networking events attended
• RFPs completed
• Hours per week organizing or planning
• E-mails sent
• Blog entries written
• Presentations made
• Prospects added to your list
• Revenues
• Number of repeat orders from key accounts
You could also produce and monthly, quarterly or even annual vital signs record sheet. This process will give you a clear picture of how close you are to achieving your goals based upon your activity. Over time you will also begin to notice a correlation between specific activities and revenues. These activities could be called “Core Vital Signs.”
In direct sales for instance, Jim Janz could predict the monthly gross revenues of a group of people based upon the number of people who attended training meetings and how many new people were added to the group over the previous 90 days. You may find that there is a direct correlation between the number of proposals you write and the number of new clients you close. The number of cold calls could be irrelevant for instance.
One important fact to note is that once you determine what your core vital signs are, you should book those first in your calendar and make sure that your entire plan is focused on you executing those activities.
In sales often when we are no longer getting the results we want we are no longer doing the key activities that make us successful. Knowing your vital signs and executing them daily is key to your long term success.
Your Assignment Today is:
1) List all of your core activities that you daily and weekly
2) Determine which ones are your vital activities that lead to your desired outcomes
3) Map out and begin to measure these activities daily
Sell the Price Difference Not the Total Cost Day 17 of The 28 Days To Better Selling
We will often get objections that our product or service costs more money in comparison to a competitor.
There are two main questions you need answered before proceeding:
Question 1: “Mr. Client, when you say the price is too high, how high is it? And compared to what do you feel it is too high?
When the client answers this question, you know what amount you are dealing with. The important thing here is to separate that amount from the total amount. By the client telling you the amount, you know what they are happy to pay, so you do not sell them on that amount, they are already sold on it. Focus on the difference.
Example:
Client: “I am sorry, but the purchase price of that house is too much.”
Salesperson: “When you say too much, how much too much?”
Client: “About $20,000 too much.”
Salesperson: “So what you are saying is that $280 000 is okay with you, but it is the additional $20,000 that is holding you back?”
Client: “Yes.”
Salesperson: “Well, let’s take a look at what you get for that extra $20,000 or $250 per month in payments. For an extra $250 per month:
- You are just across the street from the elementary school, and you said you wanted to be close to the school.
- The area you were looking in is 10 miles further away from your office. You save yourself 20 miles of travel per day, and in gasoline and wear and tear on your car it translates into $5.00 per day, which is over $100 per month. That is almost half of the $250 per month.
- The house has a view and you really feel a view gives you a sense of freedom.
- You have a two car garage that is very secure.
- Your wife is in love with it.
- You reduce your worry about your children walking to school.
- You save time not having to drive or walk the kids to school.
- You are closer to the office and save time again.
- You end up with a view you want.
Salesperson: “For a $150 a month on your mortgage I feel this one is the best option we have looked at today.” (You would not use the entire list but probable focus in on the top ones you would feel the client would relate too)
Note: The salesperson does not say “for an extra $20,000 or for $300,000” which is the total price. The focus is on the difference and the lowest amount and then broken down to a monthly cost
Your Assignment today is:
#1) Look at which services or products you have where you have price objections
#2) Assess how much more they may be perceived to cost in comparison to similar products or services.
#3) Brainstorm all of the additional value financially and otherwise someone would get from paying the extra amount.
#4) Memorize your value added list.
Preemptive Objection Handling Day 16 to the 28 Days to Better Selling
Podcast: Play in new window | Download
Preempting objections is an important strategy that most successful sales people apply. Often we will have several obejctions that come up about our product, service or company on a regular basis. There are also things that lose deals that prospects will not tell us they are worried about.
Your assignment today is to listen to the podcast and then:
1) Brainstorm a list of all of the objections that you get on a regular basis.
2) List unspoken objections that people will not mention to you but you know are there.
3) Develop a way to preemptively handle each objection up-front and turn it into a selling point
Day 15 to the 28 Days of Better Selling
Podcast: Play in new window | Download
Today’s assignment is focused on turning data gathered into compelling sales language. People buy results, emotions, and feelings not solutions or or things. After you have gathered a ton of information in a client meeting the question is “What do I do with this information?”
Today’s podcast is about prioritzing client issues, focusing on your key competitive advantages and communicating in the terms of benefits and results to the client.
Keeping Commitments Day 14 of The 28 Days to Better Selling
Today’s exercise is simple and brief but it can have a big impact on our success as salespeople and entrepreneurs. Watch the video clip from a seminar I did a couple years back and then answer the following questions:
1) Have you lost business in the past due to you or your company missing client commitments?
2) What are the most common areas in your sales and service process where commitments could be broken?
3) What could you do to improve your ability to keep commitments and exceed your client and prospect expectations?
Twitter for Sales Part 2 Day 13 of the 28 Days to Better Selling
This is day 13 of the 28 Days to Better Selling. Today’s video on Twitter for sales people is about how to get more followers and connect with prospects. It also covers strategies on building community and credibility. This is twitter video is 13 minutes in length which is a bit longer than the rest of the lessons but I felt that the topic needed to be covered thoroughly. Tweet you later!
Twitter for Sales People Part 1 – Day 12 of the 28 Days to Better Selling
Today is day 12 of the 28 Days to Better Selling. Following the theme of prospecting and client development tools the next two days are about Twitter for Sales People (and any other business person for that matter.) how you start using is Twitter is key.
You’re joining a community and introducing yourself effectively can help you build brand and make great connections. If you’re already on Twitter this may be a bit redundant for you. For those of you who are not using the tool, or are not getting the results you want, invest the next 9 minutes and watch the video.
28 Days to Better Selling Archive can be found here
Needs Analysis in Sales Part 2 – Day 11 of the 28 Days to Better Selling
Podcast: Play in new window | Download
Yesterday we focused on how to construct a client needs analysis questionnaire. Today’s lesson is focused on how to conduct a needs analysis effectively.
The core take-aways for this lesson are:
- Never sell during the needs analysis.
- Don’t finish the prospect’s sentences, allow them to explore solutions and challenges in their own context.
- Get permission to sell at the end of the needs analysis to maintain rapport and trust.
- Always get a commitment for the next step in the sales process.
28 Days to Better Selling Archive can be found here
Needs Analysis in Sales Day 10 of the 28 Days to Better Selling
Podcast: Play in new window | Download
A few of us are in different time zones, others have expressed that they are a bit behind on the assignments so technically this is day 10.5 as far as timing goes but don’t worry, we’ll catch up by the weekend with some extra but easy to implement tweaks to our sales process.
Today is about building an effective needs analysis structure, tomorrow I will talk about how to conduct a needs analysis from a rapport perspective. The topic today focuses on why we need a structured needs analysis process and how to structure it effectivelty.
Your assignment today is:
1) Brainstorm all of the possible closed, open, leading and request type questions you could ask
2) Organize them from least to most confidential
3) Pick the top 5 to 7 questions you could ask a client during an initial meeting or qualifying call
If you want some feedback on your questioning format you can always e-mail me at shane@closingbigger.net.
To catch-up on previous lessons visit the archive for 28 Days to Better Selling.
Listening in Sales Day 9 of the 28 days to Better Selling
Today’s focus is on listening. A big part of being good at all the steps in the sales process has to do with listening and being totally present. I have put together (in PDF format) a brief self-assessment on listening for you to complete. A big part of being a successful communicator is self-awareness. Take time during and after this assessment to really look at yourself and acknowledge your strengths and weaknesses as a listener.
Your ability to be totally present during the sales process and to connect empathetically with the client can seperate you from your competition. Clients often drop clues as to what they value and what they need if we listen closely enough.
Your assignment today is to be totally present and listen intently to everyone you interact with.
Download the listening self-assessment here
Don’t Be a Boring Sales Person Day 8 to The 28 Days to Better Selling
Podcast: Play in new window | Download
Face it, as sales people we can be really boring. We’re predictable, and in most cases we sound just like the next guy. Being boring is a guaranteed way to commoditize our product or service and drag our sales cycle out much longer than it has to be.
Listen to today’s podcast and then do the following:
1) Make a list of all the mediums you could be using for follow-up
2) Ask the question: How could I make each application of each medium value added, unique, or innovative
3) Set a goal to follow-up your A category clients using all of the mediums in a creative, enagaging way that will differentiate you, your product, and your company.
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