5 Strategies to Eliminate the 'Perceived Risk' Sales Objection

Wed, 19 Jun 2013 11:07:00 GMT

Nobody wants to make a bad decision. People don't like the unknown; they fear it. They're leery about making any change when there's the possibility of a career-derailing failure.

Your prospect's perceived risk can quickly turn into a sales objection. In order to prevent that from happening, you need to make them feel like they're in good hands.

Here are 5 strategies you can use to reduce your prospect's perceived risk in doing business with you or your company:

1. Leverage qualitative data. The more data you can have that supports your proposal, the better. Internal documentation (case studies, assessments) should be combined with external sources of validation. If at all possible, share relevant analyst's reports, studies, and articles.

2. Ensure transparency. Today's prospects want to know the truth, so don't shade it. In this social media age, where customers freely voice their opinions online, you can be assured that any issue about your offering, customer service, and financial stability can easily be uncovered.

3. Manage their expectations. Marketing strategist Kristine Maveus-Evenson says, "If both of you are clear about objectives, milestones, budget, scope of work, deliverables, and times lines, this builds trust. If you discuss this from the onset, it eliminates the FUD [fear, uncertainty, and doubt], which helps to mitigate their perception of risk."

4. Engage multiple stakeholders. Prior to any proposal or presentation, talk with all the people involved. Consultant Jeff Garrison recommends talking to them for at least fifteen minutes to getting their perspectives. This reduces the risk that your primary contact will be blindsided by turf issues or hidden agendas at the end of the decision-making process.

5. Offer references. Your willingness to openly share references with prospects makes a big difference. Certainly, you have your top clients who love you. But also consider offering your three newest customers, because they're most likely to relate to your prospects fears. Also, because they've just chosen you, they are likely to be strong advocates.

When your prospects are selecting which company they'll work with, certainty is a crucial factor. Unless they feel confident they're making a solid business decision, one that will help them achieve their business objectives, they'll stay with what they have. It's just plain easier - and certainly less scary.

If you ignore your prospects' fears, they won't go away. Instead, they'll lurk silently under the surface, wreaking havoc with their nerves, until your prospects finally decide that changing now isn't best for them - even if it is.

Get a Sales Leadership MBA in One Day

Tue, 18 Jun 2013 14:30:00 GMT

Join me at the Inside Sales Virtual Sales Summit on June 20th. I’m joining forces with some of the world’s top sales experts to put on this FREE conference.

Here is a sampling of the topics that will be covered:

Create Predictable, Scalable Sales Revenue
Best Practices of Sales Analytics
Winning the Changing Sales Game (me)
Building a Social Selling Culture
The Path to a Killer Marketing Strategy

It’s shaping up to be the biggest online event of the year for the sales industry. And you can attend all of the value-packed sessions at no cost.

Find out more and register online at http://www.insidesales.com/summit/register-speaker?a=ivs332

Whether you’d like to figure out how to generate more qualified leads, how to inspire and motivate your team, or how to use data more effectively, you’ll find answers from the top minds in sales at the Inside Sales Virtual Summit.

P.S. Yes, it’s being recorded. If you miss it, you can listen in later — when it fits your schedule.

Perceived Business Risks Quickly Become Sales Objections

Mon, 17 Jun 2013 19:08:00 GMT

I'll never forget my meeting with the VP of Sales for a hot telecom company. They'd loved my proposal, so I figured we were getting together to kick off the project.

"I'm afraid I have bad news for you," the VP said. "We think your training program is superior to the other ones we've looked at. Your pricing is fair. And your ability to tie it in with our new product launch is unsurpassed. However, we've decided to go with your competitor."

My jaw dropped. I stared at him in shock. Then he continued, "If you get hit by a Mack truck, our entire training investment is gonzo. We just can't do that."

In short, he meant that my company was too small to do business with. Working with me entailed more risk than he was willing to take.

That was the day when the concept of "risk" truly hit home for me. Our prospects deal with it all the time. But often we, as sellers, are totally blind to what a risky decision we can be.

In today's business environment, we have to be aligned not only with our prospects' business objectives, but also their risk temperament.

To your prospects, risk means the cost of making a mistake. It could be financial, social, psychological, or even emotional. Risk is about fear of change.

Chris Mercer, CEO of Mercer Appraisal, found this out early in the life of his company: "When we were smaller, we realized that there's a concept called 'safety' in the minds of most buyers. From their perspective, it's a multi-variable function of size, longevity, customer list, perceived quality, external affirmations (speeches, articles, books), and many other things. We've been working for more than twenty-five years to be the safe choice in our field."

That's what we all need to do. But it all starts with identifying what your prospects perceive as risky. Here is a list of just a few things they could fret over:

Projects not delivering results;
Losing money; missed deadlines;
Your company's financial solvency;
Cultural fit; compatibility;
Quality of your work;
If your expertise is right for them;
Accuracy of claims;
Your length of time in business;
If you're too big to care about their business; and
If you're too small to handle their account.

You may pooh-pooh some of these as no big deals, but believe me, I never thought a Mack truck would impact my ability to get business, either.

Three Ways to Make Repeat Sales

Fri, 14 Jun 2013 15:01:00 GMT

Today's post from the Chamber of Commerce features business-growth advice for small companies.

Making a sale is always a challenge. Whether a cold call or a follow up on a referral, closing a deal takes strategy and intuition to client needs. When that is rewarded with success, a sales high takes over – if only momentarily.

Once the endorphins wear off, there is still work to be done. After you’ve made that first sale, how do you turn a one-time buyer into a long-term client? Or in the case of a contract agreement, how do you ensure a renewal when the original term ends?

While every company may have its own specific follow-up policies in place, here are a 3 tried-and-true ways to keep clients coming back:

1. Follow through on promises. Make sure you deliver when you say you will. This is just good business but is often overlooked once transactions are complete. Prove that you are worthy of a long-term partnership by honoring your commitments. Of course circumstances may arise that are beyond your control, but ensure you aren’t the reason a product or service is delayed in its delivery to a new client.

2. Continue to woo them. In an interview on this blog, sales consultant Nancy Bleeke says preparation is one key to conversations that sell. Finding answers for prospective buyers BEFORE they ask will help them see the value in what you offer. That idea extends beyond the initial conversation though.

You should always have the needs of your client base at the forefront of your mind. Ask how a particular service or product is working out and listen to any concerns that arise. Don’t wait longer than a few hours to return a call or email. Show them that they are still valuable to you, even when the sale is complete.

3. Stay in touch. Don’t just wait for a phone call or make yourself a mental note to check in with a client at some point. Make a schedule for following up and stick to it. Personal emails or calls are best, but if that is unmanageable due to your number of clients, consider a monthly e-newsletter. Keep yourself and your company in the front of your clients’ minds so that they don’t hesitate to reach out the next time they need what you sell.

When it comes to sales, repeat customers are the sustaining factor in business revenue. Don’t just chase after new clients. Take the time to cultivate sales relationships and make it a key to long-term sales success.

How do you keep your clients coming back?

(Photo Source)

Katie Parsons writes for ChamberofCommerce.com where she specializes in business news affecting major markets. ChamberofCommerce.com helps small businesses with online growth. Plus, it facilitates connectivity between local firms and over 7,000 Chambers worldwide.

[Video] Do These Things Before Your Online Business Meeting

Wed, 12 Jun 2013 14:51:00 GMT

If you're not doing online business meetings yet, you will be shortly. They're great for initial meetings, in-depth discussions, demos, presentations and more. Here are some things to consider to make sure you come across as a real pro.

Let’s start with what to do before the business meeting. First, make sure that what people see on the screen looks decent. Clean up your desk, eliminate any clutter and turn up the lights. Also, think about what you’re going to wear. Seriously. Dress as if you’re actually meeting in person. But make sure to avoid bright colors or gaudy patters.

Then, make sure you do some dry runs. If this technology is new to you, practicing ahead of time will ease your angst. I’d suggest that you corner a colleague who can give you feedback on your professional image, body language and even an irritating habits you might have. Personally, I work from a laptop, so I put a couple books under it so that it’s at eye level and I can look straight into the camera.

Speaking of that, make sure you drag the other person’s video window right up under the camera. It’s critical to maintain good eye contact. And, if they’re in your lower left screen, that’s where you’ll be looking. That’s not the best way to establish a good relationship.

And finally, put as much time and effort into planning an online business meeting as you would an in-person one. Check attendees out on LinkedIn. Pull together an agenda. Write down the questions you want to ask.

Taking these steps will make a huge difference in the success of your online business meeting.

[Video] 4 Tips for a Successful Video Business Meeting

Mon, 10 Jun 2013 15:02:00 GMT

It’s often a lot easier to set up a video business meeting than an in-person one. Your prospects often prefer them because it gives them an opportunity to determine if it’s worth taking their valuable time to continue the conversation.

That’s why it’s important to make sure that it goes really well. Here are a 4 tips to ensure you have a successful video business meeting.

Eliminate distractions. The first thing you need to do is eliminate any potential distractions. That means you need to shut down email and text messaging. Put a sign on your door that says, “Do Not Interrupt”. And, make sure you don’t have anything that’ll tempt you to start multi-tasking.
Build rapport. Make sure you start the meeting with a few minutes of friendly chitchat to create a personal connection. When everyone has logged on, if you called the meeting, it’s your job to review the purpose of the meeting and double check time frames.
Lead the conversation. Then, you need to plan on leading the conversation because the best virtual meetings are highly interactive. They’re not one-way presentations. Have some questions planned to get people talking. And, make sure to draw out any silent attendees. Before you end the meeting, make sure you’ve agreed on the next step.
Record the session. You can send it to your prospect as a way of following up. You can also send it to others who couldn’t make the meeting. And, last but not least, you can review it to find ways you can personally improve.

Build a Highly Targeted Prospect List Using LinkedIn

Fri, 07 Jun 2013 18:05:00 GMT

Stuart Armstrong faced a big challenge. He needed to get his company into as many decisions as humanly possible -- and he was starting from scratch. Below you'll read how he used LinkedIn to jumpstart his prospecting initiative.

But first, a data point from Cracking the LinkedIn Sales Code, which highlights our 2013 Sales & LinkedIn Survey results.

As you can see from the graphic below, top sellers used LinkedIn 3X more than everyone else for building a highly targeted prospect list.

Clearly, top sellers use LinkedIn fundamentally different from their colleagues. (Get the full survey results here.) And, to show you just what can be done, here's Stuart Armstrong's story.

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We sell $400,000 to $2 million operating systems software primarily to North American telecommunications companies. My goal is to assure these companies consider us when their buying cycle starts. To make this happen, I leveraged LinkedIn as well as several other key resources.

Challenge: Within 45 days, starting from scratch, I built a prospect list of North American telecoms, cell phone and cable companies that have more than 200,000 subscribers (about $150MM sales) from a total cohort of 1200 companies. My objectives were twofold:

To quickly determine if there were pending deals we were unaware of. Since only CFOs could approve these deals, that’s where we focused.
To implement best Sales 2.0 business development and lead generation practices, enabling a future flow of opportunities. We wanted to identify and begin communicating with the ecosystem of decision makers, stakeholders and influencers.

I started by building a global prospect list merging data I’d gathered from Jigsaw, InfoUSA/Canada, Wikipedia, and associations. After that, I pre-sorted and deduped the information and got my prospect list down to about 250 companies.

Next, I used InsideView and my LinkedIn connections to identify the correct people to contact in these companies. I also used InsideView to track trigger events and competitive intelligence about these companies, looking for things that could create potential opportunities for our services.

Process: Based on this research, I narrowed my list down to 60 high probability prospects who met my minimum ideal customer profile. Then, I dug into LinkedIn again.

I visited the profiles of many people in each company to identify decision makers and influencers in finance. I found between 5-20 people per account.

I monitored who visited my profile and verified this traffic on our website. And, I connected with as many of these people as possible so I had access to their second level connections. Plus, I made sure they could see my groups and the link to the website.

I used LinkedIn and other services to get the contact info for the CFOs of these 60 HP prospects.

Then I wrote an email focused on our value and thought leadership. After finalizing the message, I contacted the personal assistants of each of these CFOs, letting them know I’d be sending them an email with insight into recent revenue assurance and fraud issues.

This was just the start of my campaign, which includes at least seven contacts.

Outcome: Leveraging my LinkedIn contacts to build a prospect list is already yielding results. Many high-level executives have initiated a conversation with me or referred me to the right people in their organization.

Example of a LinkedIn Strategy That Gets Big Payoffs

Tue, 04 Jun 2013 15:23:00 GMT

While selling for a growing technology company, Jill Rowley embraced "social selling" via LinkedIn, Twitter and more with a vengeance! Check out her LinkedIn strategies below to see why she is consistently a top salesperson.

Here's a little food for thought first. In our 2013 Sales/LinkedIn research, we found that top sellers share relevant content much more that their counterparts.

If you break these numbers down further, 20.3% of top sellers ALWAYS shared content versus only 6.4% of everyone else. (Get Cracking the LinkedIn Sales Code now to discover what else top sellers are doing. The research may surprise you!)

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To me, selling is all about relationships, building trust and establishing rapport. That’s why and how I use LinkedIn. And it all starts with your profile. It has to be created with your buyer in mind. Most salespeople don’t realize that.

My headline showcases that I’m a team player and major contributor. I have eleven recommendations. On my profile, I post presentations that are relevant to my buyers, such as case studies and analyst reports. I link to our company blog so that everyone can see our thought leadership content.

I see myself as an information concierge. I constantly look for good information that my prospects and customers would want to read – and share it with them via updates and Tweeting.

In my sales, I’m very targeted and strategic. LinkedIn helps me find the right people at the right companies. Using the advanced search function, I’ll enter in the company name, marketing titles, then keywords like automation, operations, and web. I use what I call a “surround strategy” – meaning I want to identify a number of folks in the organization that would be involved in our decision. I never want to be “single threaded” and just have one contact.

And, I surround my prospects on multiple channels too. I invite them to connect on LinkedIn. I follow them on Twitter. I retweet their tweets. I add them to my Google+ circle. I check them out on SlideShare. I want to know them intimately.

I’m always thinking, “How can I leverage my network too?” I’ll even check out the University of Virginia Alumni group on LinkedIn to see if I can find a person who can help me connect with a targeted decision maker. It’s been extremely effective.

When I reach out to people, I say something personal right away so I can create an immediate connection. I study people’s profiles carefully to find out what’s important to them professionally and personally. After doing that, I send them a message via LinkedIn with a connection request.

Each message is personally crafted to show I’ve done my homework. For example, I might start: “Wahoowa (our school battle cry)! Please allow me to use our UVA connection to e-meet you. I received a BS in Commerce in 1994.” Then, I’ll go on to mention:

Something about their profile/accomplishments I found interesting or relevant.
Names of mutual acquaintances or interests.
What my company does – but focus on the issues or business goals we help companies with. (It’s never, ever a product pitch.)
Several other companies we’ve worked with so they know we’re a credible resource.

Finally, I’ll close by asking if we can connect briefly to explore if our company is a good fit for their needs.

This approach has been highly effective in starting conversations. It gets me in the door, positioned as a valuable resource. But it’s not for salespeople who are looking for shortcuts and quick sales. It takes time to do the research and create personal messages. And, I want to be seen as a trusted advisor and expert in my area.

It’s a long-term strategy that's led to lots of business already, so I know it pays off big-time. I’ve been a top rep for many years now. And, in 2011, I was even named the Employee of the Year.

[Video] 3 Doable Strategies to Increase Sales Productivity

Wed, 22 May 2013 11:30:00 GMT

If you're like everyone else these days, you're overwhelmed with way too much to do and not nearly enough time to get it done. One of our biggest problems though is something we can control.

Being online much of the day isn't good for us. We bounce from task to task. We take emails when they come in. We make calls, visit websites, read articles, and do email again. And, sometimes we even get sucked into doing other things -- perhaps like even watching this video right now.

If you want to increase sales productivity and get much more done, here are a couple strategies to improve time management skills:

Block your time out. Devote an hour to just making calls -- or an hour to just get the proposal done. Don't allow any interruptions during that time.
Don't do your email first thing in the morning. You'll get totally sucked in and before you know it, the morning is gone. Instead, give yourself 2 times a day to do email. And stick to it. Your customers don't need you to be available 24x7.
And finally, spend 15 minutes at the end of the day planning what you'll start working on first thing tomorrow. That way, when you get to your office, you'll be all set to go.

What I'm suggesting is something you're totally capable of doing -- and, when you do, you'll have a lot more free time!

How to Get 58% of Your Revenue Via LinkedIn Groups

Mon, 20 May 2013 16:55:00 GMT

In today's article, Thomas von Ahn, founder of Viral Solutions, Inc. shares the LinkedIn strategies he and his partner (Christine Kelly) use to generate the majority of their business. They use LinkedIn Groups to consistently generate high quality leads from people who already view them as credible resources.

In fact, in our 2013 Sales & LinkedIn Survey, we discovered that 50.7% of top sellers belonged to 30+ groups compared to only 11.5% of their counterparts. And take a look at their group activity.

As you can see, top sellers are nearly twice as active in LinkedIn groups than everyone else. And, Thomas & his partner are masters at it. Here's their story.

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58% of our revenue comes directly from new contacts we’ve generated via LinkedIn. We don’t go chasing these people. Instead, they invite us into their decision process, wanting to learn more about how we can help their company.

We’re closing nearly two thirds of these warm prospects with an average deal size of $7500. Last year, our revenue doubled and in the upcoming year, we’re expecting huge growth too. We directly attribute this to the work we continually do on LinkedIn and the foundation we’ve laid.

Most people think LinkedIn is a prospecting mecca where miracles occur. They may practice the “push” style of marketing themselves. Or, they have a hit-and-run approach where they post articles and links that they ignore, but still hope to get hits from. It doesn’t work that way.

My business partner, Christine Kelly, and I take an entirely different approach. Here are some of our core business growth strategies on LinkedIn:

We’re “Groupies.” Having a very defined target market allows us to pinpoint LinkedIn groups that our targeted decision makers would likely belong to. I like the smaller groups with less than 5000 members. Before I join, I scout them out, looking for those filled with active discussions and minimal spam. Christine and I each belong to different groups; we “divide and conquer.” And, because we’re so unlike, we personally appeal to different people.

We’re “Go-Givers.” LinkedIn groups give us a forum to do this. We participate in numerous discussions, always focusing on how we can help our targeted prospects. We give tons of free advice. We share free ebooks and free white papers from our website. Sometimes we start our own discussions by asking probing questions, and then join in the ensuing conversation. When it’s appropriate, we even refer other experts and companies who could help our group colleagues with their challenges.

We Get Personal. LinkedIn isn’t about technology. It’s about people. While many are concerned that one-on-one relationships will suffer in our virtual world, we believe they’re enhanced. Before we even connect with people, we can learn so much about them and their company. And, because we’re so intent on building relationships with our LinkedIn connections, we even send them birthday cards.

We Shake Things Up. I’m constantly reevaluating my LinkedIn group memberships. Some groups get stale, others become spam-filled and some just get too big. Also, every 90 days, Christine and I go through our LinkedIn connections and eliminate people with whom we’ve been unable to build a relationship.

We Invest Time. Too many people are looking for overnight results. It won’t happen. We invest about 10 hours per week on LinkedIn. While that may seem like a lot, when you compare it to the time that most people spend prospecting, it’s minimal.

Also, so many people forget the definition of social. We take advantage of that and build relationships. Plus, we are who we are. We’re genuine, personal and candid on LinkedIn; people get to know us and trust us. When you combine that with the power of InfusionSoft [our marketing automation software], sales become easy. Literally easy!

Our sales funnel never ever leaks! The social automation and personal attention allows us to reach more people, address more needs and solve more problems with fewer bodies and a higher ROI.

[Video] The Ultimate Sales Pitch

Wed, 15 May 2013 11:30:00 GMT

What makes a good sales pitch? If you're selling to the corporate market, let me be frank with you. Nothing in the whole wide world makes a good sales pitch.

Corporate decision makers despise pitches. Everyone who meets with them spouts out platitudes about how wonderful their companies are, how incredible their technology is or how passionate they are about customer service. Or, they babble on and on about their unique methodology and amazing credentials.

When you have the opportunity to meet with a corporate decision maker, remember that a pitch is like the plague. They'll run from you as fast as they can.

So what do you when you're together? How about sharing a real-life example of how you've helped a similar customer address their challenges or achieve their goals? How about talking about how key industry trends are impacting their business?

Have a conversation, not a presentation. Talk about what's important to them. Come prepared with provocative questions. Bring them ideas, insights and information that make meeting with you worthwhile.

But whatever you do -- don't do a pitch.

[Video] 5 Ways to Build Your LinkedIn Personal Brand With SlideShare

Wed, 08 May 2013 11:15:00 GMT

If you haven’t used SlideShare on your LinkedIn profile yet, you’re missing a real opportunity to upgrade your online personal brand. What’s SlideShare? It’s a program that let’s you share PDF files, PowerPoint presentations and even videos with others.

This turns your flat LinkedIn profile into a multi-media bonanza of great information that can showcase your company or personal expertise and value. Your prospects are checking you out online and you want to have the best possible LinkedIn personal brand.

Here are 5 ways to build your LinkedIn profile using SlideShare:

Case studies: Does your company have some good case studies that showcase your business impact? If so, put them on your profile.
eBooks: Has your company written any white papers or ebooks? If so, use SlideShare and upload them to your LinkedIn profile.
Industry presentations: Do you have a presentation on industry trends or your new technology? Put them on your profile.
Video testimonials: Do you have a great video testimonial from a wonderful customer? If so, embed it in a SlideShare presentation and upload to your profile.
Featured articles: Was your company recently featured in a nice article? Put it on your profile.

Are you getting the picture? You want your LinkedIn profile to make you and your company shine. Now don’t go using SlideShare to do a big product pitch. That just turns people off. Instead, think about what your prospects might find helpful. That’s all that matters. Don’t overwhelm people either. Three to five strategically selected presentations is a great way to get started.

FREE eBook: LinkedIn Sales Secrets Revealed

Tue, 07 May 2013 15:44:00 GMT

Check out these actual stories of how top sellers leverage LinkedIn to get more business. You'll discover how:

Robbie won a $500,000 contract after being told he had no chance.
Thomas generates 58% of his revenue via LinkedIn groups.
Jill R. gets big payoffs from her thought leadership strategies.
and much more...

Get the eBook now --> www.jillkonrath.com/linkedin-sales-secrets

You’ll also get access to lots of good resources to help you leverage LinkedIn more effectively.

[Video] Using LinkedIn Updates to Increase Visibility and Credibility

Mon, 06 May 2013 20:04:00 GMT

How often do you use LinkedIn updates? Most people I ask say seldom or even never. And the reason they don’t is because they don’t have a clue why it matters.

Here’s the deal. Every time you issue a LinkedIn update, everyone you’re connected to can see it in on their LinkedIn home page. It’s a way to stay in front of your prospects and customers. But, you have to be smart about it and focus on what matters to them. Seriously. Don’t pitch your products, sell your services or use any form of hyperbole.

The best thing you can do is to share helpful information. If you read an interesting article, mention it and provide a link so others can read it too. In fact, you should always be on the lookout for content you can share with others. For example, you can let people know about upcoming events and webinars.

You can also leverage LinkedIn updates to pique curiosity. For example, you might write: "Check out how XYZ company cut their time to market by 14%"-- and then link to a case study on your website.

And, you can be human too! Share what you’re doing from a business context. You might say, “Excited to be starting a new project with Big Deal Systems.” Or “Heading to NYC to meet with large tech firm about upcoming product launch.”

When you use LinkedIn Updates this way, not only do you increase your visibility but you also demonstrate that you’re a credible resource who’s worth meeting.

Rachael Uses Her LinkedIn Network to Increase Prospecting Success

Wed, 01 May 2013 11:26:00 GMT

Rachael Lyman is a Membership Account Executive with the Denver Metro Chamber of Commerce. Rather than pounding the pavement to bring in new members, she's leveraging LinkedIn as her prime prospecting tool. Check out her strategies for building a highly profitable online network.

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Just Do It! When I first started, if I saw someone I wanted to be in my network (like an executive), I sent an invitation. It didn’t matter whether or not I’d actually met him or her. Most executives don’t remember anyhow. To my surprise, most accepted. Now I don't ask them to connect. They’re reaching out to me.

It’s Not Personal. To make LinkedIn work for me, I needed high-level connections within specific industry clusters. I knew that the more connections I had in common with my prospects, the more likely they’d connect. But I don’t connect with everyone. If I do, my ratio will be off. And, you’re only as strong as the weakest person in your LinkedIn network.

Post Relevant Information. LinkedIn is not Facebook. I use status updates to share good resources that are helpful to busy executives who are trying to keep up with so many things.

Groups, Groups, Groups! As my connections increased, I noticed something that annoyed me. The same 5-10 people were posting updates. This was frustrating because I was trying to keep an eye out for trigger events, relevant information, industry news or posts from CEO prospects I was hoping to close.

Thinking that my updates might be getting lost in the noise, I began posting them to my groups. Wow! It was nothing less than amazing. More likes, more comments, shares, and... yep... sales! My groups include Aerospace, Energy, Infrastructure, Bioscience, Site Selectors, Colorado Companies to Watch, my competitor's groups and my sales groups. I go where my prospects are.

That's it - seriously! Here are some ways this strategy has worked for me:

I rarely send out requests to connect anymore, yet have an average of 30-40 high-level invites each week.

Almost daily, executives comment positively on my LinkedIn activity. Recently, the CEO of a big bank (who’s my prospect) said, "The most prolific and relevant information I get from LinkedIn comes from you.”

At least once a week I get a request for information, or better put, an unsolicited lead via LinkedIn. They close pretty easily. Not too shabby.

My LinkedIn page, connections and groups have become a resource for people in my network. I encourage my clients who want to sell to big companies to think of my LinkedIn profile as a “go-to” resource for high-level connections.

I also share my success strategies with my clients and my network. It always comes back to me. Why have a powerful network if you can't use it for good?

How to Use LinkedIn to Quickly Build Rapport With Top Executives

Mon, 29 Apr 2013 11:15:00 GMT

Gene McNaughton, President of Business Breakthroughs, International, takes his LinkedIn activity seriously. He has to! When your targeted prospects are senior-level decision makers, you don't get a second chance. They make snap decisions about if you're someone who's worth talking to -- or not.

To ensure that he can quickly connect to these executives, Gene does his homework. And, that's exactly what top sellers do on LinkedIn. 86.7% of them always research prospects prior to making contact compared to only 26.7% of their colleagues. (Click here to download the 2013 Sales/LinkedIn Survey: Cracking the LinkedIn Sales Code.)

Now, check out Gene's story to find out what he's looking for on LinkedIn and how he uses his research.

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I work directly with C-level executives. Having a solid relationship with the CEO/owner is critical to moving a project forward and ultimately, the overall success of the project itself.

The basis of a relationship starts with rapport. When dealing with an executive, I have five minutes (or less) to create a positive initial impression. In that short time, I have to be impressive (via voice, presence, posture), establish something in common and give a sincere compliment (where it applies).

This is where LinkedIn is solid gold for me. I always look through these executive’s profiles, because that’s where I find the gold. Specifically I look at:

Work history: I want to see if I know anyone from their previous companies and, better yet, at their level too. Knowing someone in common is huge, especially if that person used to be his or her boss.

How big their job is: I’m seeing if I’ve had a job similar in scope, size or responsibility to theirs. If so, I can relate to the complexity, the pressure, the typical patterns and so on.

Schooling: I’m checking to see if I know anyone who went to that school at a similar time. You’ll never know, and if you don't look for this you’ll never find out. But if you do, it’s a huge rapport builder. You can mention sports teams or special events too.

Hobbies: Only mention this if you truly share something in common there. Don't BS about it because if he/she asks a detailed question and you answer like an amateur, you've ruined your credibility.

Where they grew up/lived: This may be another area that you have in common with them – like "cold winters" or "beautiful leaves in the fall." I’m originally from Iowa. When I talk with anyone from the Midwestern states, I always say "It’s nice to talk with another Midwesterner." That helps get the conversation off to the right start.

Initial impressions are everything – including the basis of why someone would like you enough to listen to you. Most salespeople forget that initial impressions are a strategy of their own. If you can perfect this, you’ll get into more meaningful conversations with your prospects.

I regularly sell consulting contracts that are well over $350,000 for a six-month engagement. And I know that building rapport is the first step to trust and respect, and getting prospects to feel like I’m similar to them in some way, shape or form.

This approach is paramount to every conversation I have. Rapport is power.

3 Key Tips for Conversations That Sell

Fri, 26 Apr 2013 11:08:00 GMT

Today's post from the Chamber of Commerce features business-growth advice for small companies.

Everyone is a salesperson in his or her own way. That’s the belief of Nancy Bleeke, owner of Sales Pro Insider, Inc. and consultant who works with companies to help maintain their most valuable asset: their employees.

For 15 years, Bleeke has worked one-on-one in training and human resources projects from the hiring process to sharpening the internal skills of “non-traditional” sales people like project managers and engineers.

“Non-traditional sales people are often the ongoing sales force of companies,” Bleeke said. “They are often the ones in the important meetings with clients and they are the ones who need to know how to have a productive conversation.”

Bleeke elaborates on this idea in her recently released book Conversations That Sell. Here is a summary of her three key points:

Make the conversation relevant. In short, she says that sales people should talk “with” and not “at” clients. Bleeke says that before every meeting, the person in the sales position should ask themselves one important question: What is in it for the other party? All of the verbiage and questions of the meeting should be phrased to answer the needs of the client.
End with a commitment. When a meeting or conversation comes to an end, the sales person should always set up a follow up. Not every interaction will result in a hard sale, but it is the responsibility of the sales person to arrange the next step. Bleeke suggests giving the client an assignment, like a site to visit or company materials to read, before a follow up meeting.
Prepare. Of all the components of successful selling, Bleeke says that she sees lack of preparation the most. Her eight-week course focuses on knowing an end goal before going into a meeting and outlining the needs of the client first. She says that people who take this advice see an increase of 5 to 25 percent in sales in the short two-month period. “Preparation means that the sales cycle is shorter, and clients get exactly what they need,” she said.

As the tagline of her book states, there is no such thing as “small talk” when it comes to sales. Bleeke encourages a collaborative approach.

“Buyers want more from sellers today,” she said. “They demand meaningful results. The focus for sellers should be how to make conversations more collaborative.”

Katie Parsons writes for the ChamberofCommerce.com where she specializes in business news affecting major markets. ChamberofCommerce.com helps small companies with online growth. Plus, it facilitates connectivity between local firms and over 7,000 Chambers worldwide.

How Robbie Used LinkedIn for Sales and Won a $500K Contract

Wed, 24 Apr 2013 11:19:00 GMT

Today's article features Robbie Johnson, Channel Manager for SPS Commerce and a principle in Social Media Performance Group. His creativity and tenacity in using LinkedIn for sales to create this big-time opportunity is something we can all learn from.

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I was at a $4 million dollar consulting company, selling IT consulting services, trying to break into Fortune 500 companies. The company I was calling into was over $100 billion in revenue. My first few calls were routed into the IT procurement/ sourcing person.

I started out by telling him my value proposition on why we’d be valuable to his organization. About 5 minutes into my pitch, he started laughing. I stopped and asked him what I was missing. He told me that their organization had just gone through a huge exercise to purge their IT vendor list for the upcoming years. He threw out the top three qualifications to get on that vendor list: global presence, over 25 areas of practice, and over $100 million in assets. When I told him we had none of them, he said he appreciated my pitch but to call back in three years when we might be a viable option.

My bosses told me not to pursue it, that I’d never get in. I decided to take a different approach—LinkedIn! I started out by finding out that this people in his company regularly attended local PMO groups. I went to the local meeting, got a list of attendees (including from the company that laughed at me) and then looked everyone up on LinkedIn to get backgrounds on them.

Over the next nine months, I went to every PMO meeting and met all the people I’d researched on LinkedIn. I’d also see who they were connected to and ask about that person’s role in the organization. After a few meetings, I’d ask for an introduction to this person and then start the process over again. My only constant through all of this was LinkedIn.

After nine months, one of my new contacts, whose title was deceiving for her role in the targeted organization, connected with me at a conference. She said that she had an upcoming project that my company looked perfect for and wanted my execs to meet with her bosses.

We set up a meeting and walked into her company to meet with three of the decision makers that previously were "impossible" to set up an appointment with. At the end of a 30-minute presentation, they said we were perfect for the project and were thrilled to be doing business with us. We told them we didn't have a master contract with them and that we were told it would be difficult to get.

They told us, no problem, we'll just tell IT procurement to work with you. Who called later that week? The guy who just nine months earlier told me I’d never get in.

Ultimately, we landed a $500K contract that we should have never gotten. Without LinkedIn, I would never have that contract or met with those contacts. Since then, I utilize LinkedIn for sales in almost 100% of my sales cycles. It’s been my not so secret weapon to working with executives at many companies who in the past, were nearly impossible to get in to see!

Note: Robbie also is the co-author of The Infinite Pipeline: How to Master Social Media for Business-to-Business Sales Success along with Mike Ellsworth and Ken Morris, JD.

This new book details many of Robbie's strategies as well as his colleagues on how to leverage LinkedIn for sales and other social media tools to get more business.

Click here to download the first chapter: bit.ly/InfPipeCh1

[Video] How to Nurture Prospects Without Being a Pest

Mon, 22 Apr 2013 11:26:00 GMT

Keeping in front of your prospects is essential for sales success. It often takes between 10-12 emails or phone calls before you actually connect. And, in most cases, they're not ready to make a change.

So how can you nurture prospects and keep in touch without being a pest? And, better yet, how can you contact prospects in a way that elevates your credibility?

The key is to be a content curator -- a person who sifts through the morass of available information to find resources that your prospects would find value in.

Of course, this means two things for you. First off, you need to be constantly on the look out for good information. Each day -- or certainly every week -- you need to take time to read & educate yourself. Sign up for industry newsletters. Watch relevant videos. Check on the business press. Browse magazines your prospects are likely to read. Get the picture?

Okay. Step two. Send your prospects an email or letter with a short note. For example, you could say, "Based on our previous conversation, I thought you'd be interested in this." or "If you're like most sales VP's I work with, this article could be of interest."

Don't forget --you can send the same tidbit of information to multiple prospects too. And do it often -- weekly for hot prospects, monthly for longer-term opportunities.

By assuming the new role of content curator, you become a trusted resource and the go-to person when it's time to make a decision.

LinkedIn ROI? Jamie Increased His Sales Pipeline by $350K in 6 Months

Fri, 19 Apr 2013 11:16:00 GMT

As a partner in Sales for Life, Jamie Shanks is constantly pushing the boundaries of what's possible with LinkedIn and other social selling tools. I'm always learning new things from him -- which is why I think you'll like today's article about the business value of using LinkedIn.

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Sales leaders are always asking what’s the ROI and cost-per-lead of LinkedIn. To answer the question simply, my personal business development ROI with LinkedIn is unmatched by other sales mediums.

That’s right – I personally (not including what our sales team accomplished) created $350,000 in new opportunities in six months, using LinkedIn Executive ($100/month account).

Cold calling, email campaigns, webinars, tradeshows, PR – none were as effective at producing this kind of ROI. I’ve chosen to isolate my LinkedIn metrics to only the last 6 months, as it’s when my business Shanks Group merged with Sales for Life. Since then, we’ve truly begun maximizing our LinkedIn efforts and documenting strategies.  

Here’s my personal LinkedIn ROI metrics:

# of Opportunities Created = 34
Total Opportunity Value = $350,000
Cost per Opportunity = $600 (LinkedIn Premium) / 34 Leads = $20
ROI per Opportunity = $350,000 / $600 = $583 : $1

Let’s focus on these last two metrics in comparison to your business development costs:

Cost per Opportunity (Lead) of $20: That means we spend a quick lunch for two people, to enter into a proposal opportunity in a deal worth thousands of dollars. This is fraction of the cost of “Smile & Dial” outsourced cold calling.

ROI per Opportunity of $583 : $1 Ratio. This is like the ProLine bet on the 2012 Cleveland Browns, Oakland Raiders and Kansas City Chiefs, all to win in a shootout. Except our potential $583 has the same odds to win as last year’s 2011 Super Bowl Champion New York Giants. This is the easiest bet in the world – I give you $1, and I have a really good chance to make $583.

ROE (Return-on-Effort) LinkedIn metrics: ROE is vital to understand with LinkedIn. Once people see our success and our client’s success on LinkedIn, the common objection is “My sales reps don’t have time to spend all day on LinkedIn.”

Please understand that I spend less than six hours a week on LinkedIn! This should be a huge wake-up call to sales leaders that long-term commitment to Social Selling is the common denominator. As a business owner, I’m being pulled in ten directions at once, many times concentrating on our client’s business development before our own. That’s why we’ve developed a system on LinkedIn (that we teach) to maximize time-to-$ ratio.

In all honesty, I spend about one hour each day on LinkedIn, minus Saturdays:

Total Time on LinkedIn: 6 hours x 24 weeks = 144 hours
Opportunities Created per Hour: 34 Ops / 144 hours = every 4 hours (1.5 a week)
Potential Revenue per Hour: $350,000 / 144 = $2,341/hour

Let’s review these last two metrics:

Opportunities Created per Hour: Looking at the math, by Wednesday after distributing great content using HootSuite, answering a few questions, reviewing my triggers in LinkedIn Signal and sending LinkedIn InMails, I have an opportunity with a software company worth $10,000+. The process was fun. It builds long-term brand value and I’m able to put myself in a proposal opportunity all during my lunch breaks.

Potential Revenue per Hour: We don’t win every opportunity, but I can tell you that at least I have a shot at $2,341 for one hour of work on LinkedIn. That’s time well spent.

All of this ROI was not generated in my first few weeks of using LinkedIn for business development. Your sales pipeline won’t be created from your first few phone calls either. This is an investment of time and effort, but an investment that builds everlasting brand power for you and your sales acumen.

Note: This article was first published on the Sales for Life website and is reprinted with permission.

[Video] How to Fight Your Biggest Sales Competitor (It's Not Who You Think)

Wed, 17 Apr 2013 11:32:00 GMT

Who's your biggest sales competitor? It's not who you think. It's the status quo. Doing nothing is the absolute easiest thing for people to do -- even if the process or products they're using now aren't doing a good job.

Over the years, I've always lost about 50% of my identified prospects to no decision. Sometimes it truly doesn't make sense to change. I can live with that. But other times it is foolhardy to stay with what they're doing -- yet they still do. Those are the times that drive me crazy.

That's why I've learned that our most important job is helping our prospects understand the business value they'll get from making a change. It all starts with a story of how we've helped others.

This needs to pique their curiosity enough so they're interested in learning more -- especially since the analysis requires time & resources. Case studies and white papers can provide proof sources. And best of all, our savvy questions can help our prospects determine if it's really worth going forward with a change initiative.

[Video] 3 Ways To Reach New Prospects Using Your LinkedIn Connections

Mon, 15 Apr 2013 11:39:00 GMT

Did you know that overall, you're 5X more likely to get a sales call returned if you have a personal connection with someone? To me, that's an amazing statistic. In a world where people are swamped at work and suffering from information overload, it's the best way to capture their attention.

So what does that mean you should be doing? In essence, implementing a connection-based strategy to reach new prospects.

Here are three ways you can do that by leveraging your LinkedIn connections:

The first thing you can do, is to check LinkedIn to determine if you know any of the same people. Look at their profile too. You might have gone to the same university or worked at the same company at some point in your career. When you reach out to them, make sure to mention the connection right away. This increases your odds of success by threefold.
An even better approach is to have your mutual connection call your prospect to make an introduction. By doing this, you're upping your chances of success by a factor of four.
And, the best approach of all? Contacting a personal connection. You're 11x more likely to get a return call. This means you need to strategically focus on developing relationships with people who are similar to your ideal customers. Go where they are -- both on and off-line -- and initiate a conversation. Make sure you keep in touch with them too. It'll be well worth your time.

To sum it up, we're in the Relationship Age, and who you know matters -- a lot.

Money on the Table: Role of Strategic Partnerships in Sales Growth

Fri, 12 Apr 2013 11:30:00 GMT

Today's post from the Chamber of Commerce features business-growth advice for small companies.

Small business owners are always looking for new sales leads on a tight budget. While money is often spent on sales campaigns to establish new clients, a powerful tool is usually overlooked: strategic partnerships.

Lori Richardson believes that companies are leaving potentially millions on the table by not taking advantage of strategic partnerships.

“Every company has something to offer another one,” Richardson, a sales strategist and owner of Score More Sales, says. “You simply cannot help everyone with everything, and neither can other companies.”

For over a decade, Richardson has helped small and medium-sized companies grow their sales. She works on the “front lines” of sales teams and develops customized plans based on each company. Along with helping to craft strong sales messaging, Richardson emphasizes the need for companies to implement partnership strategies and foster those relationships.

“Strategic partnerships are one of the best ways over time to grow revenue,” she said. “People are usually so busy reacting to the problems at hand instead of strategizing who can help grow their business.”

How to Leverage Strategic Partnerships

Many small business owners can certainly benefit from strong strategic partnerships, but how is an effective program built? Richardson writes all about it in her e-book Winning Teammates and gives a few pointers here:

Brainstorm. She suggests starting with a blank sheet of paper and a clear mind. Think about the other companies that call on the same customer base and complement your own products or services to collaborate your small business. A printing company, for example, could benefit from a strategic partnership with a graphic design firm. List as many natural referral sources as come to mind. If a specific company name is not known, simply list an industry for follow-up research later.
Respond quickly. When another company refers your business, show that you value the connection with a timely response to the prospective client. To protect the reputations of all parties involved, it is vital to acknowledge the referral and make it a priority.
Follow up. Once a relationship with referral companies has been established, consistent contact is vital. Richardson points out that companies often have a strategy in place to check in with clients, but many do nothing to cultivate strategic partnerships after the initial conversation. She suggests a scheduled, regimented process for keeping in contact with strategic partners in order to stay fresh in their minds.

Establishing strategic partnerships takes some creative thought but can bring in business exponentially larger than the effort . Small businesses should consider strategic partnerships a foundational part company growth.

(Photo Source)

Katie Parsons writes for the ChamberofCommerce.com where she specializes in business news affecting major markets. ChamberofCommerce.com helps small companies with online growth. Plus, it facilitates connectivity between local firms and over 7,000 Chambers worldwide.

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