Strategic Alliances, by Doug Grady
February 1, 2012 by Doug · 2 Comments
Strategic Alliances, by Doug Grady
A Strategic Alliance is a formal relationship between two or more parties to pursue a set of agreed upon goals or to meet a critical business need while remaining independent organizations. (wikipedia)
When I began working closely with high achieving salespeople, entrepreneurs, and business leaders I was at times perplexed with what appeared to be a lack of hard work. While the average go-getters were knocking on doors, making phone calls and beating the streets trying to find someone to talk to (hard work indeed), these fortunate few were enjoying more time in front of quality prospects and customers. And more time playing golf, vacationing, and serving their communities. They made more money in less time and had more fun doing it. I discovered one of the reasons they were so successful. They weren't the only ones working.
Achievers go out of their way to surround themselves with quality people. People that they can support and be supported by. One of the most powerful ways to do this is through strategic alliances. Strategic alliances work for you to bring you your most valuable resources, saving you time, money, and energy. Effective strategic alliances begin with answering these three questions:
- Who has (or could have) a vested interest in your success? This might include non-competitive salespeople, other entities that service your market, retired veterans from your industry, or a business leader who is respected in your field.
- How can you bring value to this person/entity? Be clear on what you bring to the table. Will you provide leads? Introductions? Products and services? Incentives? Ask questions and listen. Value is determined by the receiver. "How can I help you?" is a powerful question if you really mean it.
- What do you want? Clarity is power. Be clear on your ideal form of support from each strategic alliance you initiate.
Consider treating the first 60-90 days of each strategic alliance as a short-term project. Go out of your way to nurture the relationship and give value without expecting anything in return. Monitor your progress and evaluate your relationship at the end of the designated time.
One of the strongest strategic alliances for High Achievers through the years has been with Business Networking International (BNI). It began in 2006 when we booked BNI's founder, Dr. Ivan Misner, to speak for us in California. It became stronger still when I met David Alexander in 2010. David is an Executive Director of BNI and is now also the CNO (Chief Networking Officer) of High Achievers. Check out my interview with David on High Achievers Radio and join us at one of our upcoming events this month.
Sales KILLERS, by Doug Grady
August 1, 2010 by Doug · Leave a Comment
Sales KILLERS, by Doug Grady
“I killed it! I killed my pretty sale!” –Tommy Boy
Why are you killing sales? Have you ever wondered about the sales you lost- what went wrong? Here are the biggest sales killers.
1. You have been DISMISSED. Many salespeople are dismissed before they even open their mouths. This dismissal is confirmed once they open their mouths. Your prospect is unconsciously asking, “Who are you and why should I care?” You need a specific, relevant answer to this question to avoid being dismissed. The Superior Salesperson separates himself from the masses through creative door openers, personal marketing, strategic relationships, and reality based communication. If you’re dismissed, your sale is dead.
2. Ineffective READs. There are 4 steps all customers go through before they buy anything from anybody. The Superior Salesperson understands these steps, where the customer is in their buying process, and how to communicate effectively through each step. They pay attention to verbal an non-verbal cues and adjust themselves to personality styles. Failure to READ your prospect kills sales.
3. Lack of flexibility. The average salesperson engages in “verbal vomit.” They “show up and throw up.” “Blah, blah, blah…” This may occasionally bore some prospects into submission but will seldom attract the bigger and better clients. Lack of flexibility is a sales killer.
Just one of these 3 sales killers is enough to significantly decrease your closing ratio. Learn how to be more aware and present in your communication. Learn how to separate yourself from your competition. Learn how to adjust your communication given the situation. Learn how to READ your prospect.
see How to READ People- part 1
How to READ your Prospect: Evaluation, by Doug Grady (part two)
May 15, 2010 by Doug · 2 Comments
How to READ your Prospect, by Doug Grady
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)
How to READ your Prospect, by Doug Grady (Part one- Realization)
How to READ your Prospect, by Doug Grady
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: Realization
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
