| Digg it UP |
Hubs | Hubbers | Topics | Request |
| #1 in Business | Subscribe Email Print |
|
You are here: Home > Business > Sales Management > How to Double your Sales Appointments in Half the Time; Part 1 |
|
Digg it UP - How to Double your Sales Appointments in Half the Time; Part 1
Personality Testing; Myth and Realities d question; and one worth going into.It is commonly believed myth that personality testing instruments can measure your personality and predict your future behaviors. The pre-employment testing mechanism has been following this creed without any solid evidence. The testing industry claims all out validity. The educational institutions and employer organizations use them for screening purposes. Their transparency and equity has even convinced the courts of law.But it is still an unresolved riddle; what do they test?Do they test personality? What is personality then? What is its nature? How does it come into existence? Is it outcome of evolution? Does matter has capability to generate a personality? Why animals don’t have a personality? Does it remain the same during whole of your life? And many more questions.It is like peeling off an onion. Every strip leads It’s quite simple. The Achilles Heel of most sales organizations is not creating enough new opportunities on a routine basis. And that leads to 3 bad things; not meeting revenue objectives, not ramping a new-hire to Quota in a Pre-determined amount of time and unnecessary sales employee turnover due to low appointment activity. All have ‘Hard Dollar’ consequences. The first one you leave on the table, and the next two go down the drain, never to be recovered. Here is a hypothetical question. Let's say you're starting up a sales division for the new Widget Company. The objective for the direct sales force is to promote your widgets to small and medium-size businesses. You have a limited budget for marketing, so you have to rely on the fundamentals of "good ole" Sales 101 for your first year's revenue results. You must commit to becoming proficient at operational effectiveness, or basic "Blocking and Tackling." One of y Customer Service and Creative Conversations Sales organizations live by growth. And Sales Growth is measured by sales revenue. If you want to know how to increase sales revenue…there are only three ways to do it:Small business people rely on customer feedback to gage their customer service and they figure out what works and does not work as they help these customers. Sometimes customers will be upset and not say anything and perhaps you do not know why. You feel something is not quite right and you cannot pin point it. But you can engage them in meaningful conversation, which can help you get them to talk about it.How can you learn more about Customer Service thru Creative Conversations? Well simple really consider if you will a customer that makes a face when you say something or do something. One thing you can say is; You know I think you are great customer and the other day I felt really bad when a customer came in and well it bothered me all day.Next ask them for advice and say; the customer did this and describe a similar situation 1. Increase the number of new sales 2. Increase the amount per sale 3. Increase the frequency of sales per account If you look at the first step in increasing our revenue, you see it involves finding new sales. How do we do that? We set more appointments. In other words, you must start your sales process more often over a week, month and year. Now you can do that one of two ways. You can call on more people or you can convert more initial conversations to appointments. The second is the only way to do it without killing yourself. And that is the focus of this workshop. Before we get into that I want to go over a very simple (but very important) mathematical fact with you. Here it is. When you double your new appointments set, you double your revenue. (Regardless of your Closing ratio) Now that sounds so simple. And it is. And right now you're probably asking yourself something like…Ok, Jeff, if it's that simple, why doesn't everybody just do it then? Or, "Hey! I only have so many hours in the day…if I double my appointments, I would have to double all of my work." Not so fast. Obviously, I wouldn't have much of a career in this business if all I had to say to you was…"If you work twice as hard or put in twice the number of hours, you'll make twice as much money." No. What I'm talking about is a proven way for you to actually work less by wasting a lot less time, but STILL having twice the number of appointments to show for it. Less time…more Results. What I'm referring to is ‘Skill-set’ improvement. That's right. Because it's our skills (or lack thereof) that keeps us grinding it out day in day out. It's the lack of effective skills that keeps you ineffectively busy, less productive and earning far below your potential. Bottom line; Most of the sales people are just not good enough at setting appointments. And there's no reason for it. Because, it's just not that hard to do if you just learn a few PROVEN techniques. Look. The main reason we're not so good at "appointment setting" is because we don't identify and isolate the action of communicating to achieve a face-to-face appointment for initiating a sales process. (Or what I prefer to call the prospect education process). That means you have to isolate it and treat it as a separate (but essential) part of your recipe for success. You have to dissect it like a surgeon. You have to analyze every component of it. You have to assign Powerful Routines to each possible scenario. Then you have to systematically train to a process so you operationally outperform your peers and your competitors. In essence, you must be willing to raise your right hand and "swear" to become a "Master of Prospecting." You must make this commitment and follow through before you go on to commit to anything else. You need to observe this act of communication as your first (and most important) core competency. Face it. Without mastering the basics, you'll always be lost. And you'll never become very effective or efficient. If you were comparing selling to golf, setting appointments would be like hitting it off the tee. And if you can't consistently hit it "straight and long" off the tee, you can't play. And you certainly can't win! Here is a foreign term to most sales people. What is a "Conversation-to-Appointment Ratio?" You know, I've been acquainted with a lot of sales organizations over the years, and not one of them has ever identified as an essential competency, promoted as, trained to, and measured this critical performance indicator called a "Conversation-to-Appointment Ratio." Well, just because no one does, doesn't make it right, does it? So why is it important, you ask? Good question; and one worth going into. It’s quite simple. The Achilles Heel of most sales organizations is not creating enough new opportunities on a routine basis. And that leads to 3 bad things; not meeting revenue objectives, not ramping a new-hire to Quota in a Pre-determined amount of time and unnecessary sales employee turnover due to low appointment activity. All have ‘Hard Dollar’ consequences. The first one you leave on the table, and the next two go down the drain, never to be recovered. Here is a hypothetical question. Let's say you're starting up a sales division for the new Widget Company. The objective for the direct sales force is to promote your widgets to small and medium-size businesses. You have a limited budget for marketing, so you have to rely on the fundamentals of "good ole" Sales 101 for your first year's revenue results. You must commit to becoming proficient at operational effectiveness, or basic "Blocking and Tackling." One of yo 2007 Direct Mail Marketing Strategies for Entrepreneurs your Closing ratio)Often small businesses are squeezed for cash flow and yet we know we must advertise if we want to expand and get new customers. As our businesses grow we know that most of our customers will continue to come from word-of-mouth advertising, where happy and satisfied customers tell their friends to shop with us and buy our products or services.Of course, first we must get the customers to make them happy so that they will go and tell a friend. This is why we must advertise, but how do you advertise on a limited budget when you are concerned about cash flow, making payroll, keeping up your inventory and paying the rent?In these series of articles I will make the case for direct-mail marketing and I will discuss what I have learned in growing our companies. As a franchisor; we started as a small company operating in a few cities a Now that sounds so simple. And it is. And right now you're probably asking yourself something like…Ok, Jeff, if it's that simple, why doesn't everybody just do it then? Or, "Hey! I only have so many hours in the day…if I double my appointments, I would have to double all of my work." Not so fast. Obviously, I wouldn't have much of a career in this business if all I had to say to you was…"If you work twice as hard or put in twice the number of hours, you'll make twice as much money." No. What I'm talking about is a proven way for you to actually work less by wasting a lot less time, but STILL having twice the number of appointments to show for it. Less time…more Results. What I'm referring to is ‘Skill-set’ improvement. That's right. Because it's our skills (or lack thereof) that keeps us grinding it out day in day out. It's the lack of effective skills that keeps you ineffectively busy, less productive and earning far below your potential. Bottom line; Most of the sales people are just not good enough at setting appointments. And there's no reason for it. Because, it's just not that hard to do if you just learn a few PROVEN techniques. Look. The main reason we're not so good at "appointment setting" is because we don't identify and isolate the action of communicating to achieve a face-to-face appointment for initiating a sales process. (Or what I prefer to call the prospect education process). That means you have to isolate it and treat it as a separate (but essential) part of your recipe for success. You have to dissect it like a surgeon. You have to analyze every component of it. You have to assign Powerful Routines to each possible scenario. Then you have to systematically train to a process so you operationally outperform your peers and your competitors. In essence, you must be willing to raise your right hand and "swear" to become a "Master of Prospecting." You must make this commitment and follow through before you go on to commit to anything else. You need to observe this act of communication as your first (and most important) core competency. Face it. Without mastering the basics, you'll always be lost. And you'll never become very effective or efficient. If you were comparing selling to golf, setting appointments would be like hitting it off the tee. And if you can't consistently hit it "straight and long" off the tee, you can't play. And you certainly can't win! Here is a foreign term to most sales people. What is a "Conversation-to-Appointment Ratio?" You know, I've been acquainted with a lot of sales organizations over the years, and not one of them has ever identified as an essential competency, promoted as, trained to, and measured this critical performance indicator called a "Conversation-to-Appointment Ratio." Well, just because no one does, doesn't make it right, does it? So why is it important, you ask? Good question; and one worth going into. It’s quite simple. The Achilles Heel of most sales organizations is not creating enough new opportunities on a routine basis. And that leads to 3 bad things; not meeting revenue objectives, not ramping a new-hire to Quota in a Pre-determined amount of time and unnecessary sales employee turnover due to low appointment activity. All have ‘Hard Dollar’ consequences. The first one you leave on the table, and the next two go down the drain, never to be recovered. Here is a hypothetical question. Let's say you're starting up a sales division for the new Widget Company. The objective for the direct sales force is to promote your widgets to small and medium-size businesses. You have a limited budget for marketing, so you have to rely on the fundamentals of "good ole" Sales 101 for your first year's revenue results. You must commit to becoming proficient at operational effectiveness, or basic "Blocking and Tackling." One of y Trade-Marking Your Logo Design l.Trade-marking your company name and logo can pay dividends down the road. A logo design trademark can prevent competitors from infringing on your brand name and identity. It can also protect your own company from accusations of logo design infringement. This article addresses some of the key trade-marking issues of logo design, as it’s a topic that many businesses will come across.Trade-marking a logo design can be a complicated process. Because of the many other companies the registrar will have to compare your logo against, the process will often be time-consuming. There is always a certain amount of subjectivity involved in making the comparisons, and it often depends on the type of industry you’re in. Software companies for example often trade-mark their logo as they depend on it for their packaging and branding etc. Construction co Bottom line; Most of the sales people are just not good enough at setting appointments. And there's no reason for it. Because, it's just not that hard to do if you just learn a few PROVEN techniques. Look. The main reason we're not so good at "appointment setting" is because we don't identify and isolate the action of communicating to achieve a face-to-face appointment for initiating a sales process. (Or what I prefer to call the prospect education process). That means you have to isolate it and treat it as a separate (but essential) part of your recipe for success. You have to dissect it like a surgeon. You have to analyze every component of it. You have to assign Powerful Routines to each possible scenario. Then you have to systematically train to a process so you operationally outperform your peers and your competitors. In essence, you must be willing to raise your right hand and "swear" to become a "Master of Prospecting." You must make this commitment and follow through before you go on to commit to anything else. You need to observe this act of communication as your first (and most important) core competency. Face it. Without mastering the basics, you'll always be lost. And you'll never become very effective or efficient. If you were comparing selling to golf, setting appointments would be like hitting it off the tee. And if you can't consistently hit it "straight and long" off the tee, you can't play. And you certainly can't win! Here is a foreign term to most sales people. What is a "Conversation-to-Appointment Ratio?" You know, I've been acquainted with a lot of sales organizations over the years, and not one of them has ever identified as an essential competency, promoted as, trained to, and measured this critical performance indicator called a "Conversation-to-Appointment Ratio." Well, just because no one does, doesn't make it right, does it? So why is it important, you ask? Good question; and one worth going into. It’s quite simple. The Achilles Heel of most sales organizations is not creating enough new opportunities on a routine basis. And that leads to 3 bad things; not meeting revenue objectives, not ramping a new-hire to Quota in a Pre-determined amount of time and unnecessary sales employee turnover due to low appointment activity. All have ‘Hard Dollar’ consequences. The first one you leave on the table, and the next two go down the drain, never to be recovered. Here is a hypothetical question. Let's say you're starting up a sales division for the new Widget Company. The objective for the direct sales force is to promote your widgets to small and medium-size businesses. You have a limited budget for marketing, so you have to rely on the fundamentals of "good ole" Sales 101 for your first year's revenue results. You must commit to becoming proficient at operational effectiveness, or basic "Blocking and Tackling." One of y Brand Presentation - Go Out of Your Way to Have Fun ent and follow through before you go on to commit to anything else.Have you ever noticed the brightest colors, and the funniest scenes are the most memorable?A little old granny with her red hat and red vinyl purse looking at a teensy weensy piece of meat on a big round bun saying, “Where’s the beef?” comes to mind when I think of funny commercials. Everybody for years walked around commenting “Where’s the beef?” It became the instant putdown on every date, the end all of party conversation, and the choice location to have a burger.Splash yellow paint across the screen, zap it with a green jagged line, and add a pair of bright red lips talking from the depths of creation and you’ll get some attention. If the lips happen to have a quirk and say something funny, you’ll have people repeating your catchy brand slogan for months, or maybe years afterward.When the world learned to sing in perfe You need to observe this act of communication as your first (and most important) core competency. Face it. Without mastering the basics, you'll always be lost. And you'll never become very effective or efficient. If you were comparing selling to golf, setting appointments would be like hitting it off the tee. And if you can't consistently hit it "straight and long" off the tee, you can't play. And you certainly can't win! Here is a foreign term to most sales people. What is a "Conversation-to-Appointment Ratio?" You know, I've been acquainted with a lot of sales organizations over the years, and not one of them has ever identified as an essential competency, promoted as, trained to, and measured this critical performance indicator called a "Conversation-to-Appointment Ratio." Well, just because no one does, doesn't make it right, does it? So why is it important, you ask? Good question; and one worth going into. It’s quite simple. The Achilles Heel of most sales organizations is not creating enough new opportunities on a routine basis. And that leads to 3 bad things; not meeting revenue objectives, not ramping a new-hire to Quota in a Pre-determined amount of time and unnecessary sales employee turnover due to low appointment activity. All have ‘Hard Dollar’ consequences. The first one you leave on the table, and the next two go down the drain, never to be recovered. Here is a hypothetical question. Let's say you're starting up a sales division for the new Widget Company. The objective for the direct sales force is to promote your widgets to small and medium-size businesses. You have a limited budget for marketing, so you have to rely on the fundamentals of "good ole" Sales 101 for your first year's revenue results. You must commit to becoming proficient at operational effectiveness, or basic "Blocking and Tackling." One of y GoogSpy: Business Counter Intelligence for Everyone d question; and one worth going into.So, you want to know what your competitors are up to these days, or maybe you want to research a keyword campaign that will rank you at the top of the heap for whatever product or service you're selling? Meet GoogSpy, a special search engine that not only shows you what Google AdWords your competitors are buying, but it will display all of the search terms that rank them in the top 10, PLUS it even displays their top 25 competitors.What search engine does it base all of its intelligence on? Well, with a name like GOOGspy, there can only be one. GoogSpy.com is powered by a product called "WebScraper+" which is the brainchild of Arizona-based Velocityscape. According to Michael J. Roberts, Velocityscape's President, GoogSpy extracts 500,000 search results per day from Google and loads them into the GoogSpy.com database which it then makes It’s quite simple. The Achilles Heel of most sales organizations is not creating enough new opportunities on a routine basis. And that leads to 3 bad things; not meeting revenue objectives, not ramping a new-hire to Quota in a Pre-determined amount of time and unnecessary sales employee turnover due to low appointment activity. All have ‘Hard Dollar’ consequences. The first one you leave on the table, and the next two go down the drain, never to be recovered. Here is a hypothetical question. Let's say you're starting up a sales division for the new Widget Company. The objective for the direct sales force is to promote your widgets to small and medium-size businesses. You have a limited budget for marketing, so you have to rely on the fundamentals of "good ole" Sales 101 for your first year's revenue results. You must commit to becoming proficient at operational effectiveness, or basic "Blocking and Tackling." One of your first objectives is to retain a qualified sales team of 100 reps in ten cities. You decide to go to a headhunter to speed things a long. Mike contacts you representing the ABC Recruiting Company, and offers to provide you with qualified candidates. He gives you two choices: - A pool of candidates with 90% Closing ratios (The expensive package) - A pool of candidates with a 65% Conversation-to-appointment ratio (The less expensive package) The offer is one or the other, not a mix of both. Which would you choose? If you picked the first group, you're in for a risky ride. Because no matter how good a closer you hire - you can't close someone that you're not in front of. Remember, you have no monies budgeted for creating customers through traditional marketing efforts. If this doesn't seem realistic or attractive, you may want to consider the second group. In the second group, getting in front of the appropriate target prospect is a skill set that comes along with the package. Now based on your metrics - all you have to understand is how many appointments are needed each week to get to your monthly revenue goals. Then you just chunk that number into smaller daily goals. Now you have some accurate, dependable forecasting on your hands. Data you can depend on. And as long as you educate your people on just how you arrived at your first activity number, (it does change), they will be able to believe in it and accomplish it. Let's summarize for a moment. You may have the best service in the world. You may have the best widget in its category, hands down. It may have the best price and the best guarantee in the world. But if you can't physically get in front of your targeted business prospects, you just don't have the "Right to Win" in this highly competitive marketplace called business to business sales.
HTTP = HTML link (for blogs, profiles,phorums):
Related Articles:Advertising Do Not Tell Me; Show Me Media Relations: Should You Pay For News Coverage, Part II
|