Suspect? Prospect? Account? Defining your sales progress.

"You are never a loser until you quit trying."
Mike Ditka

 

It is often asked:  when does one stop calling after they’ve tried calling so many times without success or at least a returned call?  My thoughts are simple:  if you are calling, calling and calling and you aren't getting a response, it should tell you that you haven't done your research aka homework.  People will only buy if there is a need.  If you haven't uncovered a specific need that your product or service can address, then you will call until you're told to get lost ... or you give up .... or your manager asks you why same has been on your prospect list for so long.  Initially, all leads, cold calls, etc. are "Suspects".  Before you turn them into a "Prospect"  you should be able to answer why they are a prospect?  What tipped you off to make you confident that they would buy from you?  If you cannot answer that, they are still a "Suspect".  If you haven't had a scheduled appointment with a decision maker to uncover a need, they are still a "Suspect".  If you marketing department or web gave it to you as a lead that has not been followed up on, even if there were specific inquiries, they are still a "Suspect".

 

If you have had a chance to sit down with a decision maker and ask them qualifying questions you have a "Prospect".  In other words you have qualified them as a prospect:

• They have said they're going to buy your product or service     
• They have budget allocated
• They have a time line established for purchase or engaging service
• They have developed a criteria on how they are going to award the business
• There are business, industry or government factors that are advancing their decision:

1.      There is a deadline

2.      There is a project

3.      There are business advantages for them to make the decision

4.      There may be a penalty if they don’t act on a) by b)

5.      Your organization can help meet, avoid, eliminate 1 to 4.

6.      You understand 1 to 5.

 

If you are not talking to the "Decision Maker" (the person who can sign the cheque or agreement) then you are still in "Suspect" mode.  This is because this person has been assigned to gather information, gather quotes, price shop, etc.  It would be only move beyond "Suspect" to "Prospect" if you can validate that they can make recommendations that will be acted upon. 

 

Once the "Prospect" has been identified, then you should determine what will make them buy from you to become an "Account".  In order for this to happen you can answer:

• What they like about your product, company, solution, service
• Who might also be part of the decision making process (i.e. committee, board of directors, executive, manager)?
• You understand their needs and you have provided a proposal, bid, letter outlining what it is they are asking for and what you are addressing
• You have asked how, who, what are the decision making criteria

·   They can afford your solution, service, product or you have carved out a way that they can afford it by looking at financial landscape.

·   They can sign on the dotted line today

• You have scheduled and performed a demonstration, trial, beta test, and/or review of their needs in person with them confirming that you have understood what they are looking for
• You understand whether they understand what they are buying or simply doing research in case it comes up in the future (which relegates them back to the "Suspect" pile)
• They have a budget, enough money, to spend on what you are proposing?
• They are budgeting for the future and you have diarized to follow up in a specific time frame to move them from "Suspect" to "Prospect"
• They agree that you are being considered because you  

1.      Understand the problem(s) they will encounter if they do not move forward

2.      Understand how this solution, service, product will help them by itemizing

         their specific  "Benefits":

ü  solve administrative headaches

ü  streamline process

ü  fix problems

ü  increase employee morale

ü  make them more competitive

ü  increase reputation or brand

 

If they agree to sign, purchase, agree to your proposal, you have ONLY then established an "Account" ….. BUT only after you have taken into consideration your organizations policies and ability to serve/delivery/meet the demand to deliver:

a)      Deposit

b)      Credit Application

c)      Agreement Terms

d)      Service Level Agreements

e)      Operational readiness

f)       Resources assembled

g)      Product Availability

h)     Warranties

i)       Approved price concessions

j)       The executive sponsor from the "Account" who will help you implement

k)      Authored an Implementation Plan (if applicable) with all the people who have to be involved assigned tasks, responsibilities, time lines

 

Before you start to get up and run out to scream to the world that you've "got it" there is one important thing that you must do:

1.   Schedule a follow up to ensure they are happy with what was promised, delivered, agreed to.  Based on that you may have to:

Ø  Review the promises made together with “Account”

Ø  Fix any issues that have been identified

Ø  Understand how the short comings impacted their business (time to market, competitiveness, serving their customers, lost revenue, lost new business, etc.)

Ø  Address those issues with your operations, resources

Ø  Collaborate with operations BEFORE you offer any discounts, refunds,

Ø  Follow up that those issues have been fixed to their satisfaction

Ø  Ask for a testimonial for your website, quotes for your other proposals, references

Ø  Ask for a referral only then

 

When you attend the scheduled follow up review, you may want to have two follow ups:  1) with the person who agreed to the purchase; then 2) the people who have been impacted by this new product, service, solution.

If you are truly really lucky, you will turn this "Account" into a "Partner" ... but I'll leave that for another day.  You have some homework to do right now. 

 

"Happy customers are repeat customers ... and repeat customers refer you to their friends, colleagues, business associates and relatives"

Jeannette Marshall

@optioneerJM

#QUOTE

 

 

 

Comments?  Feel free to provide your feedback ... did this help you?  Do you agree with this post?  Do you have additional tips or tricks that help you better qualify to ensure success? 

 

Of course, sharing also helps if others can learn and is greatly appreciated!

 

 

 

 

ARE you building your Field of Dreams?

“Success is a lousy teacher. It seduces smart people into thinking they can't lose.”
                                                                                                                          ~Bill Gates

Just because you build it does not mean: they will come.  Contrary to the belief communicated by the popular movie starring Kevin Costner:  Field of Dreams.  If you missed it by chance, the premise was a fellow believed that if he built a baseball field, then a professional baseball team with legendary baseball figures would soon appear.

Many of us know or have seen enthusiastic entrepreneurs sparkle with enthusiasm fueled by a dream of owning their own business, and watch as they set out to make the dream happen.  But then what happens?  They’ve got the space ready, a fist full of business cards, and sweat pouring because they’re ready to do business.  Yet nobody seems to be pounding on their door.

As economies experience down turns and employees are sent packing with early retirement packages or lay off settlements, they set out to realize their dream:  to start, own and operate their own business.  Unfortunately, it isn’t until the revenue doesn’t pour in, do they start to scramble and ask themselves questions.  Let me try to help.  Your dream will sputter out and money drained without a little bit of advice.  So here goes, here are some things you may think when you start out before reality sets in:

1)  Just because you build your business – whether from home, garage, whatever – does not mean that customers will come.

2)  Without a Business Plan, you may just be looking at building a business the same way you have your home:  Needs, budget, gadgets and perhaps a financial advisor.  But a real business needs a vision and a plan.  (I recognize that I may be sound like a broken down record if you’ve followed my Blog before!)

3)  Before you get all hyped and forking out the dough, remember that just because you love your idea, product, or service doesn’t mean that others will. 

4)  Don’t get caught up in the trap that others will be your savior.  It is your idea and there are many experts out there who will chomp at your door to help you spend your money giving you advice.

 

5)  Advice from parents, siblings, relatives and friends are just that:  advice.  Their opinions are going to be skewed because they are your cheerleaders, they want you to do well, and even perhaps have a piece of the action.

6)  You are so married to your idea and vision that you are a control freak and nobody else knows better than you.  If that were the case, you wouldn’t have any competitors and you just may have a cash cow waiting to happen.  But seriously, how realistic is that?

7)  You have decided who is going to want to buy from you.  That again would be wonderful if we could just all have a crystal ball that would magically tell us everything we think we already know.

8)  You jump ahead from a simple plan and place of business, like your home or garage, and get down to leasing space, making purchases, without a budget or review of your financial resources, forgetting the longer plan on where you will create a revenue stream from because the costs don’t disappear.  Sadly, if anything they can compound.

9)  Long live the entrepreneur!  You are on your way to freedom:  you think you can set your hours around your personal life and it won’t matter to anyone else but you.

10)              You can take or leave customers:  some are difficult, some expect too much, some are way too demanding, some seem needy, while others don’t respect that personal time you’ve set aside.

11)              You let others tell you what you should do:  Instead of what you love, what you are passionate about.

 

Don’t laugh!  OK, only those that can relate to any of these points (or maybe all of them) and have learned the hard way that they are NOT a recipe for success.

 

“We can't help everyone, but everyone can help someone.”
~ Ronald Reagan

  

Nice Guys don’t always finish last!

A conversation with sales star, Jay Dannenmann

“It is not true that nice guys finish last. Nice guys are winners before the game even starts.”

~Addison Mort Walker

I remember the first time I met Jay Dannenmann at a Presidents’ Club Awards trip we were both on about 15 years ago.   After seeing his name always at the top of the Sales Scoreboard amongst over 5000 sales reps month after month, I know what my preconception of what he would have been like beforehand:  Arrogant, boastful, snazzy dresser, big talker.  I would imagine there are lots of folks who would agree with me ..... Boy, was I wrong!  Instead was a personable, friendly, humble, soft spoken, polished guy who was comfortably dressed and exuded competence.   He humbly suggested that his success in leading edge print sales was because he started out as a graphic designer and could/would contribute his ideas and would even create campaigns if that was what his customers needed help with. 
 


Fast forward, 15 years later, we reconnected on Linked In.  Not before long, we took up a a few telephone conversations that lasted hours …. Exchanging career stories with lots of chuckles, recalling a few of the stellar folk we had met over the few years we attended several rewards trips and even compared training experiences.  One of our mutual favorites was Jim Lee, our sales trainer, who the girls swooned over and the guys admired as he had been a Green Beret.  Conversations with Jay are easy because he is such a likeable guy, nothing fancy, just straight forward and honest.  It gives one insight on how comfortable and trustworthy his clients find him to be.


The stories Jay liked to tell 15 years ago and now were similar … what technology and solutions were effective in helping him help his clients.   What was unusual was he often referred to them always as “friends” of his and backtracked to clarify that they were also “clients”.    He was happy to tell about some of the great people whom he knows, that from the sounds of it, are just as down to earth as he is.   

I often think of Jay when I use examples of top performers: they're the ones doing the work and getting it done, not boasting about their achievements.  Therefore, I asked Jay if he would be willing to be interviewed for my Blog to help leaders and sales professionals, or even those considering sales as a career …. Lucky for us, he said yes!

Early riser or late bloomer?

Early riser.

Do you forecast sales?  If so, how?
Not really.

Do you do up a Business Plan?  When, how often?

My business plan is simple. I focus on client & prospects connections daily.

 Do you review your forecast or Business Plan?  How often?

Not really because I follow a plan that I've had for years.  My focus is on making personal connections daily and I try to be disciplined with time management.

When the pressure is on, you’re sales are below forecast, what do you do to get going?

I look at how I can work smarter and make better use of my time management.

What is the best sales advice you’ve ever received?  Where and by whom?

In San Diego my business associate Charles Martin said “Dannenmann, there are twenty-four hours in a day” and that I have the opportunity to use every one of them.

Do you have a mentor?

Yes, Charles Martin.

Do you mentor up and coming sales rookies?

Absolutely yes. First I believe by helping rookies within the same organization I represent it helps protect the brand I sell, because salespeople are the face and voice to any company. Also by mentoring or just collaborating with others, I sometimes refresh myself by discussing the basics I may take for granted, but I can also pick up some fresh ideas that a rookie may have that this old guy never thought of.

What would you say to someone considering sales as a profession?

Sales is all about challenging ones self, recognizing one’s weaknesses, building upon our strengths, and continually learning and setting new goals that evolve from that.

 

Also, sales is a lot like acting.  You change your character or script depending upon the story line (or your customer’s needs).

 

What would you say to people’s fear of cold calling in sales?

Thinking back to when I was younger and single you would see a pretty lady.  You’re opening line is what would make or break you.  Sales and cold calling is like that.  Your opening line is what will put people at ease and more willing to hear more about what you have to say.

What is the most consistent quality you bring to your customers?

Creativity.

What do you think your customers like most about you?

Reliability & honesty.

Do you have a favorite customer, or type of customer?

I am reluctant to name a particular favorite, but I love the Footwear & Apparel manufactures pool within Oregon. It has been an honor to work with what I believe to be some of the most creative and talented people in the world on many publicly visible campaigns.

Do you call high (C-Level) or wide (multiple end users)?

I always try to start at the top with high-level executives but as referrals and relationships evolve, my relationships go wide and deep across a large cross-section of people.  I wouldn’t exclude anyone who wants to talk to me.

What was your most favorite sales win?

Designing and implementing a Print On-Demand transit times map program for 450 Con-way Freight service center locations throughout America, Canada and Mexico that ran for nearly 11 years’ worth millions of dollars. Along with the financial success, I also made within those eleven years numerous life-long friendships.

What is the most challenging part of sales to you?

Rejection.

How do you source your new customers?  (i.e. prospect)

I try and expand within existing customers, warm call from referrals, daily morning research of local and national Biz Journals and LinkedIn.

What do you love most about sales?

Freedom, people interaction, competitiveness  

What do you hate most about sales?

Rejection

When you were a kid, did you say you wanted to be a sales professional when you grew up?  If not, what were you going to do?

Definitely no. I wanted to be a racecar driver.  In some ways, I am a racecar driver.  In sales, it is the sales pro who is out there, taking the risk, being the face to the public but he/she can only be as good as the team behind them. 

Do you have life goals associated with sales goals?

As I enter the final stages of my professional sales career, my wife who is also a business professional and I plan to travel around the United States in our motor home and enjoy this beautiful country for a period of time. After that I’d like to still sell but in a less stressful environment such as a golf course to maintain the interaction between people and myself which I love to do.

Are you a Hunter or Farmer?
Farmer: I’m in it for the long haul with relationship versus the quick kill.

What is the coolest thing you’ve ever done as it relates to sales?

I was brought in to be part of a NIKE Golf marketing team to develop and print the TIGER WOODS PGA sponsor endorsement worth 40 million dollars.

 

 What are you most proudest of?

1) Taking up golf with my wife.  I am proud of her because of her success in her career and the quality of person she is. 

2) My son who joined the business with me and in sales now.  I admire how successful he has become and how good he is at it.  I’m especially pleased that he decided to join my company and follow in my footsteps.

3) My progress in golf.  When I started in sales, I would  avoid golfing events, golfing with customers, or award trips because I didn’t feel strong enough.  Now, it offers me an enjoyable way to spend time with my clients in a relaxed atmosphere that extends relationship building in a social atmosphere where they are more apt to share insights because their guards are down.

Jay is part owner and chief sales professional for POD4PRINT and can be reached on Linked In.  POD4PRINT is a state-of-the-art facility with leading devices by top manufacturers that enable them to design, create, print, archive, index, fulfill, and/or distribute for leading marketers such as NIKE.   Reach out to Jay on Linked In and he’ll help you with showing what the leading edge marketers are doing these days.  Take it from me, you’ll like him and before long, he’ll be calling you “friend”.

 

 “Sales is all about challenging oneself, recognizing one’s weaknesses, building upon our strengths, and continually learning and setting new goals that evolve from that.”

~ Jay Dannenmann

*Note: 
“Nice guys finish last” is attributed to baseball manager, Leo Durocher, 1939, specific to the context of baseball.