#1    On average … it takes 8.4 tries to reach a live prospect on the phone.
Unfortunately many sellers approach prospecting with the expectation that the prospect will return their first call or will be waiting at their desk for a follow up call. When this doesn’t happen the average seller gets frustrated and gives up calling after 2 or 3 tries. But who wants to be average?
Jill’s insight: Prospecting is a warm process. Not a cold event. Just because it’s a good day for you to make a sale doesn’t mean it’s the right time for the prospect to buy. Lower the “8.4” by making sure that, before you pick up the phone, you have a valid reason to call from the customer’s point of view. Do your homework and take the time to create a clearly articulated message of high value to this prospect now. And, knowing that prospecting is a process, plan a relevant “access campaign” – a multi-method approach that delivers relevant high value information over time to this contact – so that you increase their sense of urgency and you position you to be top of mind when the time is right.

# 2    A scant 4% of prospects appreciate persistent calling, while more than 70% say it is irritating.
How can this be? We’ve had it drummed into us that persistence pays. And now that we understand that prospecting is a process, surely we need to be persistent!
Jill’s insight: Before you ditch persistence as a positive sales attribute let’s be clear … persistence is good. Provided you deliver messages of high and current value to the prospect. I know I’m beginning to sound like a broken record but I believe that the root cause of this painful statistic is the flood of uninspired, ill-prepared follow up calls informing prospects, “I’m just calling to check in” or “I sent you an e-mail and haven’t heard back” or “I haven’t heard from you in a while and want to remind you all about me.” Hearing this 8.4 times would certainly put me in the 70% who feel irritated!

#3    92% of sales organizations raised quotas last year and it’s a trend that’s not going away.
Now that’s a scary stat – especially when the economic trend is one of unpredictability. What happens when we’re under immense pressure to bring in more sales? We chase any lead, we accept every meeting, and we go after the low hanging fruit believing we’ll close more deals faster.

But wait! Here’s scary stat # 4 … Studies show that the “no decision” rate today is 24%. Which means, on average, 24% of the opportunities you pursue result in “no deal.” Nobody wins – not you, not the competition, not even the client. The opportunity falls into the black hole and simply goes away.
Jill’s insight: With quotas rising annually you can’t afford to waste your precious, and limited, time on deals that will end up in the black hole. So strengthen your qualification and discovery skills. Prepare insightful questions ahead of time – not just about the opportunity, but also about the purchasing process, criteria, motives, and stakeholders. Be crystal clear as to how this opportunity contributes to your prospect organization’s strategic objectives … and how it ranks in terms of current priorities to key stakeholders. If you can’t obtain, or are being denied, this information … proceed with caution or move on.

#5 When it comes to analyzing why we lose a bid only 23% of sellers involve the customer. Even more frightening is that only 16% of sellers involve the customer when analyzing why they win a new sale.
Jill’s insight: A larger percentage of sales teams conduct a “self-analysis” as to why they believe they won or lost a recent bid. But think about it. The only person who knows the exact reason(s) for the outcome in any sales situation is your customer. And things are not always what they seem. While price is the most common reason provided to sellers who lose bids, it’s rarely an accurate picture.
Be willing, and able, to masterfully interview customers who choose to go with your competitor. Seek out all of the reasons for their decision and specifically what you might do better in the future to assure your success. And, when you win, thank the customer, get their perspective on what specifically clinched the deal for them and, most importantly, leverage these reasons in future prospecting messages and bids.

#6    99% of customers feel that it is important that vendors come to a first meeting well prepared and that they already understand the customer’s business and industry.

Jill’s insight: To add to this research finding … when salesSHIFT asked a select group of buyers about their #1 pet peeve relating to sales people the response was, “I wish that sales reps would take the time to understand me and my business.”
Who can blame them? Knowing your customer is a prerequisite for any productive sales conversation. With the vast number of resources available to us to obtain people, company and industry information we should be embarrassed to pick up the phone, or go to a first meeting, without a good understanding of who we are talking to, their company’s interests, and the state of their industry.
At the very least check out their website, news releases, president’s message. Look up people and companies on LinkedIn, InsideView, Google and other available data sources. Use this information to create relevant prospecting messages that center on the customer, and to come to a first meeting prepared to share your understanding and to ask insightful questions.

#7    Almost 75% of sellers believe that their sales approach differentiates them from their competitors. Yet only 3% of their customers say they do this extremely effectively.

What this says to me is that an awful lot of sales pros are out there thinking their sales approach is working its magic. And it’s not!
Jill’s insight: This represents a massive opportunity for those of you who recognize that the world we sell into has changed dramatically and, as a result, we need to regularly take stock of our sales approach and how aligned it is – or isn’t – with how our market buys. The smartest sales organizations realize we live in a time when product and service benefits no longer provide adequate differentiation. And that one’s sales approach – how we act and interact with our prospects and long term customers – is one of our most powerful sources of differentiation. Why? Because as this statistic shows … so few sellers do this well.

Good selling!

Statistics were extracted from the following studies: “Sales Performance Optimization Study” conducted by CSO Insights, USA and “What Really Matters in B2B selling”, an international study conducted by Infoteam, Switzerland.

How have you handled third party requests? What worked for you, and what didn’t? I’d love to hear from you – leave me a comment!

Smart Selling is a series of video tips where Jill Harrington, President of SalesSHIFT, answers your BIG HAIRY sales questions in less than four minutes. To be notified of new videos in this series, click here. If you have a question you’d like Jill to answer, let us know!

Have you ever had to say ‘no’ to a customer? What worked for you, and what didn’t? I’d love to hear from you – leave me a comment!

Smart Selling is a series of video tips where Jill Harrington, President of SalesSHIFT, answers your BIG HAIRY sales questions in less than four minutes. To be notified of new videos in this series, click here. If you have a question you’d like Jill to answer, let us know!

Have you ever successfully worked with a purchasing specialist? What worked for you, and what didn’t? I’d love to hear from you – leave me a comment!

Smart Selling is a series of video tips where Jill Harrington, President of SalesSHIFT, answers your BIG HAIRY sales questions in less than four minutes. To be notified of new videos in this series, click here. If you have a question you’d like Jill to answer, let us know!

How have you successfully handled the challenge of “no need”? What’s working and not working for you today? I’d love to hear from you – leave me a comment!

Smart Selling is a series of video tips where Jill Harrington, President of SalesSHIFT, answers your BIG HAIRY sales questions in less than four minutes. To be notified of new videos in this series, click here. If you have a question you’d like Jill to answer, let us know!

Buyers are human beings. And human beings are individual, imperfect and unpredictable. Which means all of the science – your strategy, process and logical thinking – can be seriously derailed if you fail to prepare for the human factor – the art.

So I’d like to end 2011 by sharing five “human enigmas” that cause even the most talented sales pros to stumble – and provide a little of the art to prevent this happening to you.

No two people share the same perspective I bet you’ve all encountered these buyers… the customer who doesn’t appreciate the true value of your product. The purchasing specialist who believes you can buy business services the same way you purchase paperclips. Or the prospect who thinks she’s saving money by doing everything in-house when you know she’d save a heck of a lot more if she’d outsource to the expert.

And what do you do? Try to educate her of course! Bring this misguided soul over to your way of thinking. Convince her to see the error of her way. Only this doesn’t work. The only way to have another human being share your viewpoint is by positioning it in context of hers. Which means sales pros must be curious. Willingly open your mind to “understand” conflicting perspectives – even when you disagree.

Human beings say one thing – and do the other.Do you see red when a customer talks endlessly about the importance of quality, and then buys from the lowest-cost provider? There is often a huge divide between what customers say they want, and how they make their final buying decision. The result? Sellers are blindsided.

Customers don’t always know what they want. Which means you can’t take everything at face value. Ask deep clarifying questions. Listen to the implications of your customer’s answers. Talk to multiple decision influencers who may hold differing opinions. Notice what isn’t being said, and be prepared to ask tough questions. If your customer struggles to articulate a compelling reason as to why they‘d willingly pay more for your service, then they don’t have one. And guess what? It’s not going to happen.

Human beings, under pressure, seek the easy route. How many times have you been told you’ve lost the bid because “your price is higher than the competition.” It’s the easiest and kindest way for a buyer to say, “You missed the mark.” And it’s probably the most comfortable reason to share with the boss. But it’s rarely the full, or accurate, story. So give your ego a vacation and take time to find out if price is the core issue. And always ask, “What else?” Because there will be more. I speak from experience when I say the “what else” can hurt. But the greatest learning of my sales career came from never accepting the easy route and always pushing for the hard facts.

Human beings crave commonality.I’m British and I live in Canada. And when I meet a fellow Brit for the first time … within minutes “we’ve known each other since birth.” People build stronger faster relationships when they have something in common. So rather than waiting, or hoping, to discover your commonality, get proactive. In your pre-call research use all of the technologies and resources at your finger tips to seek out opportunities to demonstrate it. What do you and this specific buyer have in common? It may be personal – you went to the same university. It may be business – both of you work for companies with aggressive growth targets. It may relate to values – you’re both passionate about the success of others. Then plan how you will integrate this into your first conversation.

The people who most need you are least likely to buy from you. I recently shared this statement with a marketing guru. His response? This should be engraved on a gold plaque and hung in every sales office.
I discovered this human enigma the hard way. I opened my business thinking the fastest route to riches was to fix the broken sales teams in the world. I soon realized that these sales teams were failing for one simple reason. They don’t invest in continuous improvement. So I took a screeching U-turn on my strategy and started talking to successful sales teams. As soon as I stopped talking to the sales leaders who needed me most, and started connecting with visionary sales leaders who invested heavily in their people, my business took off.

So my simple message to all of you … Stop thinking like a sales person and start thinking like a human being. Never underestimate the human factor in the sales process. Proactively prepare for it. Because one thing’s certain. While the sales process is consistent and predictable, human beings are not. And no amount of technological advance will change that.

Good selling!

How have you successfully got in front of brand new prospects? What’s working and not working for you today? I’d love to hear from you – leave me a comment!

Smart Selling is a series of video tips where Jill Harrington, President of SalesSHIFT, answers your BIG HAIRY sales questions in less than four minutes. To be notified of new videos in this series, click here. If you have a question you’d like Jill to answer, let us know!

As for the ones who are “hitting the ball out of the park” early in their career, here’s what they have in common…

1. Their quest for knowledge. They understand that “how you sell” has far more impact on sales success that “what you sell.” They continuously invest in their own professional development and view training as an opportunity, not an annoyance keeping them from their customers. They proactively seek mentorship, and reflect on what works and what doesn’t in terms of their own sales approach.

2. Their intent. They are not just focused on closing the sale. Their intent is to contribute to their customer’s success. As a result of this mindset they proactively look for the customers who will benefit from their services. And they do their homework so they can speak intelligently about why this specific customer would benefit from having a sales conversation. The sale – and usually a bigger one – is the output.

3. Their curiosity. They are genuinely curious about the customer and his / her business which means they “know” who they are talking to, and they prepare questions that are valuable to both the customer and the sales pro. They take time to understand what’s important from the customer’s perspective and they listen – to the customer’s words and to the implication of these words. So when they respond, their recommendations are ruthlessly relevant.

If you are relatively new to sales, or are a sales leader with a young team, I’d love to get your thoughts – write a comment below …

Many look at time management as the panacea. Yet, according to renowned neuropsychologist, Dr. Paul Pearsall*, “time management is a waste of time.” You see… it’s not about time, it’s about attention. Pearsall refers to attention as the new business currency and states, “until we learn to manage our attention, all the self-helpism, time management programs in the world will be useless.” And I agree with him.

A myriad distractions vie for our attention on a daily basis. So much so, that we forget we have choice over where we focus that attention. In fact by getting ruthless with our choices we will get more done, and free up time.

Here are seven insights to help you redirect your attention so you get more done in less time.

1. Having goals is not enough.

Everyone knows that goals are integral to getting things done. But did you know that setting goals without identifying the associated critical success factors to achieving these goals leads to time wasted?

Many of you have clear goals. But it’s the overwhelming list of activities you then create to attain these goals that threatens to derail you.

Set your goal. Then identify the few (three or four) things that absolutely must get done if you wish to reach this objective – the handful of activities that are critical to your success. Then ruthlessly devote your attention to executing these few critical success factors and notice how much more efficiently you reach your goals.

2. It’s not about time, it’s about priorities.

You have an ever-growing “To Do” list. Items get added faster than they get crossed off and it’s paralyzing you. Anyone relate? Stop making lists unless you have a prioritization process that enables you to efficiently work through this list.

Designate each item an A, B or C priority based on how critical each activity is to achieving your end goals. Importance trumps urgency. Schedule time for the A priorities immediately (and always allow at least 50% more time than you anticipate). Assign the Bs to another day, and either delegate your Cs to others or move them to your “stop doing” list. For example, an A for me today is working on my business strategy for 2012, a B is a proposal that is due next week, and a C is returning a call to the sales person who has left the same message five times. While the proposal is more urgent than the business strategy, the strategy will help me decide whether this is a proposal I should be writing. You can guess what I’ve done with the C.

3. Stop reacting and start proacting.

Sales people jump at opportunity. Every opportunity. It’s part of our DNA.

But if you seek more time – and bigger results for a smaller investment of your time – then focus your attention on the leads that are both winnable and desirable for your company.

Have a clear target customer profile, against which you filter and prioritize both incoming leads and outgoing calls. When you devote your attention to a lead that is neither winnable not desirable you are taking time away from a lead that could be your next best client.

4. Schedule your attention.

Schedule quantity and quality of time to focus your attention on the important elements of your job, like call planning, new business development… And when I say “schedule” I mean protect a chunk of time in your calendar as you would a meeting with Mr. Big, your most important customer. Shut your door if you have one, book a boardroom so you have privacy, forewarn your colleagues that between 8.30AM and 10.30AM you will not be responding to e-mails, calls or drop bys.

Uninterrupted time allows you to get more done, because you maintain your attention. I’ve heard that once distracted, it can take up to 40 minutes to fully refocus on the original task. And that’s a wicked waste of time.

5. Check into “Blackberry Rehab.”

The biggest attention sucker in today’s business world is your Blackberry or iPhone. If you believe that checking your e-mail frequently makes you more efficient – think again. The most efficient people look at their e-mail a handful of times each day, manage their customers’ expectations in this regard, and avoid wasting time responding to e-mails that 20 minutes later no longer require their attention.

Now I hear some of you wailing, “But my customers expect me to respond immediately!” Then my question to you is, “Who set the expectation?” Unless you work in a time sensitive (and I mean minute to minute) business like the currency exchange or energy markets – kick the habit.

6. Leverage your peak performance time.

There is a certain time of the day, and certain circumstances, under which we focus and perform at our best. For me it’s early morning. My best ideas come to me in the shower – my husband has suggested I stop showering for a while as I now have more ideas than I can ever hope to execute.

The morning is when I attack my scariest projects. Mid afternoon is when my attention wanes. So that’s when I schedule B priorities or re-energize by interacting with others. If you don’t know when, and how, you are your most productive, start observing your work habits. Don’t fall into the trap of choosing easy over efficient, or comfortable over important, just because it’s the wrong time of day for you.

7. Remember … It’s never about time – it’s always about priorities.

Did I say this already? Well, I’m saying it again because so many salespeople are frustrated with how long it takes to get time with prospects. Or they consider it rude when a prospect won’t return their calls or a customer continuously postpones a meeting.

Remember … attention, time and money flow to priorities. Reality is you’ve failed to get their attention because you, your message, or the agenda of your meeting is not a priority to this individual right now. Getting time with today’s busy buyer takes work. Many sellers don’t devote enough attention to clarifying what’s important to a specific prospect before picking up the phone or sending that e-mail. The end result … time wasted.

Let’s face it. You have no control over time. It moves forward no matter how hard you try to slow it down. We do have control over what we deem a priority. So stop worrying about managing time, and get ruthless on where you focus your attention.

* Paul Pearsall PhD 1942 – 2007

Over the years I have witnessed some frightening selling practices. And I’ve seen them used by sales pros with different levels of experience. It’s not because they’re bad sales reps. For many it’s habit. Some have been taught these “tactics” by well meaning sales dinosaurs. And others simply don’t know better.

I’ve named each of these behaviors. And created, in no particular order, my top ten “Harrington’s Horrors.” If you happen to recognize yourself in the list below then it’s time to create your personal “Stop Doing” list, and to retire each of the horrors that threaten to derail your sales success.

Your Stop Doing List (Harrington’s Horrors)

1. The Stalker

You follow up with your prospects frequently and regularly. Buyers are busy so you’re persistent. But there’s a fine line between persistence and stalking – and you’ve raced past that line. What’s the difference? The intent and content of your messages. The persistent seller has a valid reason for calling, and delivers a message that focuses on what is important to this customer now. The stalker is out to close the deal with a generic “feature and benefit” message that focuses on the seller.

2. The Parrot

As sales leaders put pressure on reps to call higher up the corporate ladder I’ve witnessed the emergence of flocks of parrots – reps mindlessly repeating “big strategic” questions they’re required to pose to executive buyers.

Just one problem… they don’t understand why they’re asking the questions and they don’t know what to do with the answers. The net result is lost credibility and bruised confidence. NEVER call at the executive level if you don’t have a valid reason to be there, or if you don’t have the business acumen to carry an executive-level conversation.

3. The “Sales Cliché”

If you’ve ever been in one of my workshops you know how I feel about this horror. I cringe every time I hear one of these pearls fall from a seller’s mouth. “What keeps you up at night?” “What are your pain points?” Or some other sales training cliché you adopted circa 1990 and forgot to retire from your repertoire. I understand the intent … but PLEASE change the language. What keeps me up at night? My husband’s snoring!

4. The Price Dropper

Everyone has a personal “car purchase” story. It usually involves some reference to the inevitable “this is my best price” game, coupled with the “let me speak with my manager” tactic. Does it feel good? No! It kills any joy in what should be a fun purchase. And it has destroyed the credibility of an entire industry. Yet many sellers are quick to drop prices unnecessarily. Know your value in context of each customer’s priorities so that you can hold you’re pricing in face of lower cost competition. And, if dropping your price makes sense in this instance, re-create the offer to reflect the lower rate, so you don’t reduce your credibility.

5. The Verbal Brochure

You’ve got your standard presentation, a 20-slide PowerPoint deck detailing the history of your company since Adam met Eve, and you drag it out to every new customer meeting. Well, guess what? I don’t care. I’ve been to your website. You sent me your e-brochure. I can read. So if you’re meeting with me, use my precious time to share something of value that’s relevant to me and my business now. Pique my interest so that I want to schedule a second meeting or take a next step with you.

6. The Idiot Creator

“Are you interested in saving time and reducing risk?” Or “If I show you how we’ll save your company $500,000, are you ready to move forward with us today?” The customer would be an idiot to say “no.” Right? WRONG! The only person that looks like an idiot is the seller. Retire these types of cheesy manipulative questions from your sales portfolio now.

7. The Easy Rider

Too many sellers are looking for “easy.”

Some of you mistake easy for efficient. Here’s a news flash for any of you who skimp on preparation for customer meetings because “I’m an intuitive sales person and I know what to say.” And for those of you who give up on a good prospect because “they don’t return my calls after three attempts.” Selling isn’t easy. With the array of competition fighting for the customer’s time and money, you must earn the right to quality time with busy buyers. And that takes effort and discipline.

8. The Lost Lamb

“I’m not sure if you’re the person I should speak to…” or “I’m not sure what you do…” Yes… there are sales reps who still say this! And the buyer’s response? “Do your homework and call me when you do know!” With all the resources available to sellers today, if you’re not prepared to invest time into figuring out what my company does, or who you should talk to, what does that say about the effort you’ll put into supporting my business?

9. The Conversation Killer

Your opening line is killing you. “Hi it’s John Smith from ACME Technologies, have you heard of us?” Or “Hi it’s John Smith from ACME Technologies, I’ll be in your area next week – are you available to meet?” Or “Hi it’s John Smith from ACME Technologies, we sell technology hardware, do you have any current needs?” Never open with a question that solicits a big resounding “no” and leaves you with nowhere to go. Share what you know about this customer that has prompted you to call. And ask a big customer-centric question that opens a dialogue.

10. The Finger Pointer

“Customers only care about price.” “They don’t see the value in our services.” “People are rude – they never return my calls.” “She didn’t take the time to read my full proposal.” I hear these statements from irritated sales pros every week. Prospects aren’t rude – they’re busy. Buyers don’t return calls if you don’t give them a valid reason to. Customers don’t see the value in you, or your proposal, because you failed to connect to their critical priorities.

Stop pointing the finger at the customer. If you want to lay blame at someone’s door – always start closer to home.

Good selling!