How to get out of a Sales Slump- the 4 “R”s

“You’re ridin’ high in April, shot down in May.” –Frank Sinatra

If you are reading this you are likely in one now currently or are remembering a time when you were. The dreaded sales slump. It happens- even to the best of us. Sales can be a hero to zero business. The highs can be heavenly while the lows are at best bearable. When you find yourself in one, consider the 4 “R”s.

• Remind- Take a big breath. Remind yourself that you have been successful in the past. If you have been in sales for awhile, think back to a time when you were on a roll, in the zone, selling at your best. What was different about your attitude, energy, and activity? What were you feeling, focusing on, and driven toward? Strive to regain that energy and mindset.

“This too shall pass.” –Persian proverb

• Refocus- Set specific, measurable, achievable goals for the next 30 days. There are 2 types of goals to set: activity and outcome. You need both to increase the velocity of getting out of a slump. Activity goals address # of calls, presentations, networking meetings, referrals, etc you are committing to. Outcome goals address # of sales, $ amount and other relevant “bottom line” sales results. Yes, I know this is sales 101, but let me guess- you haven’t done it in awhile. Just do it.

“When you find yourself in a hole…, stop digging.” –Will Rogers

• Re-energize- get back in the gym, go for a run, listen to some of your favorite music. Get up earlier and focus on your goals. Turn off the TV- read and listen to inspirational, educational, or motivational material. Get around inspiring people. Buy yourself something pretty.

• Re-commit- This is more important than the first 3 combined (the first 3 tend to make this one easier). Decide what you are committed to and get to it.

“Until one is committed, there is hesitancy, the chance to draw back, always ineffectiveness… the moment one definitely commits oneself, then providence moves too. All sorts of things occur to help one that would never otherwise have occurred. Boldness has genius, power and magic in it. Begin it now.” -Goethe

Pick yourself up, get back in the race, you’ll be “back on top in June.”

Happy Selling,
Doug Grady

DG sings “I will Commit” to the tune of “I will Survive”.

How to READ People: The 4 steps all prospects go through before they say “Yes”- part 2

E- Evaluation. Once your prospect is within realization (see part 1), evaluation begins. Human beings are evaluation machines. Evaluations are simply questions your prospects are asking which much be answered to their satisfaction before they buy. Your prospect consciously or unconsciously asks questions in four general areas:

• Why you?
• Why your company?
• Why your product/service?
• Why now?

Failure to satisfactorily answer just one of these areas can kill your sale.  

The answers to these questions fall into two basic categories: the desire to gain pleasure and the desire to avoid pain.

Specific “pleasure” points may include:

• Return on investment
• Improved employee morale
• Pride
• Ego
• Security
• Approval from others
• Feelings of Success
• Intelligence
• Convenience
• Personal growth
• Keeping up with peers

“Pain” relief may fall into these categories:

• Increased profits
• Decreased costs
• Increased sales
• Efficiency
• Less stress
• Increased productivity
• Peace of mind
• Job security

Strategy 1: Ask “pleasure” and “pain” questions. In order to influence the valuation if others, you know how they evaluate. Earth-shattering, I know. Yet so many salespeople simply “show up and throw up”. They talk about every feature, advantage and benefit known to mankind regarding their product in hopes that one will miraculously connect with their prospect in such a way that they are uncontrollably compelled to say “I’ll take it!”

Examples of “pleasure” questions:

                What’s most important to you in _______?

                Why is that so important?

                What do you like most about your current situation?

                Why do you like that so much?

                Why did you decide to go with XYZ company?

Examples of “pain” questions:

                What’s not working?

                If you could change anything about your current situation, what would it be?

                What concerns do you have in this area?

                On a scale of 1 to 10, how are things going in this area? What’s missing to make it a 10? 

Strategy 2: Presentational Positioning. Your presentation should be relevant and specific to your prospect and their current situation. If you have asked effective questions, listened, and received accurate answers you are ready to give a tailored presentation. In your presentation, position your product or service as a way for them to move toward what they want and away from what they don’t want.

Recommended HAN faculty: McKain, Weldon, Grady, Sjodin, Hutson (in members area)

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Michael & Doug

How to READ People: The 4 steps all prospects go through before they say “Yes” – Part 1

Have you ever wondered why some people buy and some don’t? Why you can ‘nail’ a presentation and still lose the sale? Why some prospect with obvious needs won’t even talk to you? Why some people give a fast “yes” but you end up with a slow “no”?

It’s not about you.

So much of traditional sales training has focused on what you, the salesperson do. If they say this, you respond with that; this is what you say and how you say it; you have to go through the steps of the sale, you have to close early and often, blah blah blah. This is all about you. There is really only one entity that determines if and when a sale is made, it’s your prospect. In this 4 part blog we’ll explore the 4 steps all prospects go through before they buy anything from anybody.

Part One

Step 1: R- Realization. Have you ever talked with a potential customer- someone you know would be better off with your products or services than without- the only problem is… they don’t know it! Until your prospect accepts the possibility they might do business with someone in your industry within a reasonable period of time (it might even be you) the most powerful of presentations will fall on deaf ears. Realization occurs when your potential client first understands that they are in fact a potential buyer of your products or services. Your job is to find them in realization, creatively get them there, or be around when they get there.

• Strategy 1: Find prospects in realization. This is what traditional prospecting is designed to do. You keep beatin’ the streets, smilin’ and dialin’ until you find someone who is at this point of realization and is willing to talk to you. While it is true sales is a numbers game, it’s not just quantity, but quality of activity that counts. If someone is not yet at the point of realization, you have 2 choices:  move on or:
• Strategy 2: Creative door-openers. One of the questions your prospects are unconsciously asking themselves is, “Why should I talk to you right now?” You must find ways to creatively answer this question. Look for excuses to call back your best prospects. Do your homework- research your best prospects and ask yourself, “If I were this person, what would get my attention?” Find people, places and things to creatively open the door for you.
  • People: Who do you know that can provide an introduction for you to your best prospects?
  • Places: There are people who will have coffee with you and not lunch, and vice-versa. There are people who will accept a golfing invitation who will never have you in their office. Think creatively as to what type of invitation your prospect might accept.
  • Things: I once secured an appointment with an elusive prospect after finding out he was from New Orleans. I sent a bottle of Tabasco sauce with a note saying “Some of the best things come from Louisiana- I’d like to meet you.”

If you are unsuccessful at creatively opening the door you have 2 choices: move on or:

• Strategy 3: Be around when your prospect realizes. When someone in your market has a need, do they think of you first, second, or not at all? Many of the best salespeople I know are also the best personal marketers I know. They stay on the “mind of the market” by developing and nurturing an identity in their market. When realization occurs, they are thought of, sought out, and given a shot at the business. Your personal marketing efforts should include several of the following personal marketing strategies:
  • Newsletters
  • Personal brochure
  • Direct mail
  • Networking meetings
  • Business associations
  • Referral groups
  • Speaking engagements
  • Writing articles
  • Social media
  • Blogging
  • Strategic alliances
  • Advertising
  • Charity work

Until realization occurs in the mind of your prospect, nothing will happen. Once they get there, they begin to move into step 2, E, the focus of next week’s blog.

Recommended HAN faculty: Weldon, Grady, Gundrum, Levinson, Misner, Reaves

Sales Instinct

From time to time I have found myself watching ESPN’s coverage of the World Series of Poker. It provides an interesting look into human nature. Statistically, roughly 12 million Americans play poker, but only 5% are consistently profitable. Some of these 5% make hundreds of thousands of dollars every year and all they do is play poker. The winner of the 2006 World Series of Poker Main Event… $12 million dollars in approximately six and a half days. Now, those of you who understand the game of poker, you know where that money comes from. That’s right, it comes from the losers!

You have to wonder- what are the winners doing that the losers aren’t doing? That’s a great question for your business isn’t it? What does the top 5% of your industry do that the other 95% does not do? If you do what the top 5% does, you too will be successful. The best poker players have what is referred to as “poker instinct”. Poker instinct is the ability to read people and situations; to pick up on verbal and non-verbal hints and clues; to understand basic personality styles, to anticipate tendencies. Based on this read they make better decisions, in other words they alter their communication, and in the long run, if their read is accurate, they make more money. Doyle Brunson, considered to the “Godfather of Poker,” once said, “Being able to read people, understand people, is as important as the mathematical knowledge necessary to weigh pot odds and figure out betting strategy. Poker is a game of people, not cards, and you have to be able to understand and know people.” Reread that last sentence and replace the word “poker” with “sales”, “communication” or “leadership”. Replace “cards” with “services”, “products”, “prices”, “numbers”, or “features.”

In sales, in communication, and in leadership we have instincts. They are very similar to those poker instincts. They are your ability to read people and situations, to understand human behavior, to pick up on verbal and non-verbal hints and clues. Based on an effective read you can make better decisions, in other words you can alter your communication. You can become more appropriate, relevant, and specific to the situation and the person you are working with. If your read is on, your communication will be on and in the long run you will make sales you previously would have missed. Let’s start with a basic premise- it’s not about you. There is only one entity which ultimately determines whether or not a sale is made or a commitment is reached and it is not you. It is your potential customer. The speed and manner in which different customers go through these steps varies based on many factors: personality, external influences, culture, even mood of the day. Based on an accurate read you will make better decisions, you will alter your communication and ultimately achieve more sales, more results in a shorter period of time. Here are a few simple strategies to improve your read:

• Do your homework- the simple task of “googling” your prospect before you approach can give you invaluable insight into who they are and what they are all about.
• Become a student of human behavior- study basic personality types and how they communicate.
• Become more flexible in your communication. Try mimicking the voices you hear on the radio and the actors you see on TV and in the movies.
• Ask better questions and become a great listener. Most of us can dramatically improve our listening ability. Be interested not interesting.
• After every presentation ask yourself 2 questions: “What did I do right?” and “What could I have done differently?”
• Get coaching. Find someone you trust and share with this person a challenging communication situation for feedback. Better yet, record a live presentation with a live prospect and watch it with your coach. This can be as enlightening as it is uncomfortable.

Develop your sales instincts, improve your reads, make more sales…

Recommended High Achievers Network programs: Niurka, Brinkman, Grady, Reaves, Hutson, Weldon, Gundrum