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INSIDE THIS MONTH'S ISSUE OF M3 TOOLBOX
Skip Miller

Dark, Ghost, Echo, and Maybes

Why do sales organizations have names for why deals disappear off the forecast? The deal went dark; it went ghost. All I get back from my phone calls and emails are an echo. I have too many maybes in the funnel. Read more »

Tool Review – I Get It - STT

I bought a car for my daughter the other day. Sometimes when I make a purchase, I think about why I bought. If I can relate this to a ProActive sales tool... hey, all the better.
Read more »

Pipeline Tip of the Month

You probably will stop prospecting over the next few months. Logical. You have a good pipeline going into the 4th quarter, and all you need is what you have in the pipe to close, and you have the year made. Read more »

Advanced Sales School

The next Advanced Sales School is October 24-26th, 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.
Read more »

Dark, Ghost, Echo, and Maybes

Why do sales organizations have names for why deals disappear off the forecast? The deal went dark; it went ghost. All I get back from my phone calls and emails are an echo. I have too many maybes in the funnel.

How does this happen?

When I talked to them the other day, they:

  • Really understood the value proposition
  • Said they loved us
  • Even set the appointment up for this Friday, but they no-showed

What did I do wrong?

We hear this a lot, and when we dissect the situation, we uncover:

  1. The sales person was selling Solution Box A. They thought they were the whole answer. They had no concept of Solution Box B, the quantified amount Solution Box B is, and how they fit into the puzzle.
  2. The customer had a good idea of the value proposition from the sales person, but they had no idea how to get started, so they delayed, froze, or just put off a decision.
  3. CSP – Customers solve problems. The sales person could not identify the causal problem that the prospect was trying to solve. Oh, they could list the effects, the list of needs, but the cause? What is causing the prospect to do something different? To change?
  4. Quantification is lacking:
    1. What is the revenue of the company?
    2. What is the value of the Solution Box B?
    3. What is the GAP?
    4. How will success of Solution Box B be measured in the short and long term?

You have the opportunity to change the deals from nothing to something. It's up to you. Focus on what the customer is doing, or focus on your price. Both can get you a deal, but only one gets to a mutual decision.

 

Good Selling,

Skip

Tool Review – I Get It - STT


I bought a car for my daughter the other day. Sometimes when I make a purchase, I think about why I bought. If I can relate this to a ProActive sales tool... hey, all the better.

So I ended up getting a used Toyota. Why did I purchase it?

  • It was in my price range; a few dollars more, but within the range.
  • It had all the features I wanted.
  • It was in good mechanical shape. A dealer checked it out.
  • I needed it now. The other option was to have my daughter drive my car, but after my son put a major dent in a few years ago, that was not going to happen.
  • I had spent enough time looking and was ready to make a decision.

If you look at it, all the elements of the ValueStar were there: time, risk, ROI, brand, and leverage. Cause and Effect were taken care of as well. So, what pushed me over the edge? Tell you what it not was:

"Mr. Miller, this car will last your daughter at least 5+ years."

That was true of every car, so why did the dealer use this? Probably because it sounded good. What a waste of good sales effort.

This questioning however was unique:

"So Mr. Miller, when did you plan on giving it to her? Where will your first drive be? Will you put a big red bow on it when you give it to her?"

Man, I had to think about this, and the more I thought about it, the more Transfer of Ownership I had.

"I'll get the bow on the way home at the Party Store. I'm sure they have one, and it's on the way. Our first drive, heck, we were all planning to go out to dinner tonight, so she can drive us in her new truck. Since today is Friday, this is a great day to give it to her, since I don't want to waste another weekend looking at cars."

So what happened? New tool – STT – Short-Term Transfer. I already validated the long-term buy in for the car, but it didn't motivate me to get started. I didn't have a clear idea what I was going to do first, second or third. What were the baby steps I was going to take once I had made this decision?

For me, knowing those baby steps I was going to take in the short term....that day...made me make a decision on the spot.

What are your prospects doing in the short term after their decision? The first 30-60 days after the prospect makes a decision? Usually, they have no idea how they are going to get started. Oh, you have told them what you are going to do to be successful, but they have no clue what to do first. Have a meeting?

STT – Short-Term Transfer – what is the prospect committing to do first, second, and even third if possible, in the first 5/30/60 days, to make sure they get this investment off to a good start? If they can't tell you, give them some hints, best practices, suggestions. It has to be their idea. They have to put some sweat equity into the process. If not, there is no transfer of ownership, no urgency, no deal.

STT – use the tools.

 

Pipeline Tip of the Month


You probably will stop prospecting over the next few months. Logical. You have a good pipeline going into the 4th quarter, and all you need is what you have in the pipe to close, and you have the year made.

If you think like a customer, they are making their 2012 plans right now, and would welcome a call. What? You are too busy trying to close what you have in your forecast? Really?

Great sales people always find a way to prospect. One email or call a day to power (Russians) will do it. Prospect when your prospects want to see you. Right now, lower level people are closing things out and are really busy. But the more senior level... they are focusing on 2012 and need help figuring it out.

Prospect at the senior level now, or ask yourself in 1st Q 2012 why you can't get any meetings with power. It's because they had to submit their plans, and you weren't included.

Go have those meetings. They are waiting.

Have a great September.

M3 Learning Team

 

 

 

 

 

Try It / Buy It

Tactical Lunch 'N' Learns


M3 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:

 

  • Breakfast Sessions - from 7:30 a.m. to 9:00 a.m.
  • Lunch Sessions - from 11:30 a.m. to 1:00 p.m.
  • Afternoon Sessions - from 3:30 p.m. to 5:00 p.m.

Contact us for more details. Click here or call 866.462.5763.

"These are not tools… these are game-changing weapons."
- Mike Heylmun Vice President Sales

ProActive Sales Management


Few 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:

  • Shorten your sales cycle by weeks or months
  • Motivate a sales team
  • Get their sales team to prospect and qualify
  • Create a proactive sales culture
  • Effectively coach and counsel up and down the sales organization
  • Reduce reports to one sheet of paper and 10 minutes a week
  • Forecast with up to 90% accuracy
  • Take A players to A+ levels

Click here for customer reviews

 

 

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