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The Lost Art of Reference SellingPeople buy from people they like and they trust. If this statement is true, what are you doing during your prospecting efforts to make sure you turn those cold calls into warm calls so you get a better response rate? I find it fascinating that sales people are all over Facebook, LinkedIn, Twitter and all the other social media tools, but have a tough time asking for a referral. We constantly hear from sales people that reference selling is a great way to prospect and overcome cold call rejection, but ask a sales person to ask their customers for a referral, and they will look at you like you are asking them to request “the biggest favor in the world” from their best and most important friend. Think like a customer. Customers, especially executives, love giving worthwhile referrals out, since, if the person who they refer you to actually buys and uses what you are selling, they probably:
Which is the only reason they would buy from you. Say you ask a good customer, Barney, for a referral. He gives you a referral, say Fred. You help Fred solve a problem, make money, or whatever. He’s happy. He calls Barney up and says thanks. OK, so Barney knows that Fred owes him one. This ‘owes me one mentality’ has been around for a long time. The Romans used to call this a chit, which is like a favor marker, good for one favor. Executives are always looking to collect chits, so you, by asking for a referral, are really helping your customer collect chits. Bottom line, ask for referrals and help turn that cold calling chore into a networking juggernaut. Good luck and use the tools. Skip |
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Tool Review – Decision Options (DO's)
What decision options does the prospect have? Think about it. Your executive level (Russian) prospect has a problem, which is why they agreed to meet with you. They are trying to weigh their options. They are going to:
They are going to come up with some Decision Options (DO's), and only one will be with your solution. No we are not talking about them adopting a potential competitive solution, since you will fight that battle on a feature/benefit playing field, which is where your marketing department wants you to fight, but your executive level prospect never does. What are some Decision Options the prospect has, and what would be the outcomes of these? That's what they are racking their brain on, and could use some help. Imagine they called you in for a consultation, and gave you an assignment to come up with three recommendations. They would pay you a commission if they buy your solution, but they will pay you five times your commission if you came up with three recommendations they could pick from. Only one of the DO's has your solution, and all three have to be really good. What non-competitive options would you recommend? What decisions would you and they make, and how would you both get to a decision point? Your prospect always wants options or choices. Working with them, you will be seen more as a partner than a pushy sales person. So don't just ask them what are their problems, get an answer, and then pitch your solution. After you hear an issue, concern, problem that you could help with, ask them: “What are some of the more feasible options you are looking at to address this problem?” Remember Decision Options is what your prospect is thinking about. Do the 2-step:
That will get them talking, and give you an opportunity to transfer ownership and create an opportunity for you. Pull options; don't push your solution.
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A Mid-Year Evaluation of the Most SuccessfulQ1 was good, but marginal. Q2 looks the same. The economy is turning and there are quite a few companies doing quite well. What separates the OK sales people from the really good ones? Right now, we see three differences that are easy to spot: If you have to email, here are three golden rules:
Working harder may not be the issue. Your customers are spending money. Are you on the right train, or are you selling to the value proposition a=of a year or so ago? Your customer is changing the way they are doing things. Have you asked them recently what are they doing different? You may be surprised at the answer.
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M3 Giveaway
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FREE M3 Sales Tools of SuccessFor those who aspire to create significant sales success, Click here for M3's popular tool-based templates. These tools will arm you with tactics to help you to energize your performance and win sales faster. |
Try It / Buy It
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Tactical Lunch 'N' LearnsM3 Learning offers a variety of educational Lunch 'N' Learn sessions for you and your team. The presentations fit easily into a lunch hour or other convenient time slot and are delivered right to your workplace by M3 certified trainers. The presentations feature tool-based tactics—not theory. After the presentation, your sales reps will be able to immediately apply what they learned at the session to move a sale forward. We offer the first presentation for FREE. Each program is from 1 to 2 hours in duration and is customized to meet your goals and objectives:
Contact us for more details. Click here or call 866.462.5763. "These are not tools… these are game-changing weapons." |
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ProActive Sales ManagementFew sales managers are true managers, often falling back on the skills that made them great at sales. This essential book is packed with specific, field-tested tactics for making the numbers in today's competitive sales environment. It's an important resource no sales manager should be without and details how to:
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You're Invited
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Join us for the 2011 Advanced Sales SchoolThe next Advanced Sales School is September 19-21, 2011 in Northern California. Make you’re A players better. Get them ready for the Q4 push so they can work on the deals that will close in Q4, not the ones that are going to slip. You can help them close the closable business in Q4... send them to the school. For 15 years now, The Advanced Sales School has been making sales people go back to the basics and realize all the skills they have forgotten to use, as well as learn some new ones. Look at the reviews form the last school we just had:
We hear this all the time, and are ready to help your sales people get better at calling high, qualifying real deals, and creating value for the sale to stand on its own. |
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M3 Social NetworkingDid you know that M3 Learning is on Facebook and Twitter? Sign up today and stay up-to-date on the latest M3 events, promotions and more! Become a Fan on Facebook and follow us on Twitter.
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