Nicholas Bate

Sales Down-Turn Buster 101

Whenever your FY ends, it’s getting tougher. Here are 101 things to do to ensure you close to target by year-end.

1. Ban negative talk. Don’t blame circumstances: work with what you have.
2. Meet every day as a team 0830-0845. What are the challenges? Sort them or forget them.
3. Mon, Tues, Thurs. Spend 0845-0900 with your team individually in rotation. Coach them. Knowledge. Skills. Attitude.
4. Knowledge. Do they know their USPs?
5. Skills. Can they close?
6. Attitude. Is their heart in this? If not: encourage a new career soon.
7. Friday 0845-0915 as a team. Celebrate successes.
8. Analyse every win. What got us the win?
9. Analyse every loss. What caused the loss?
10. Review time management principles.
11. Is everyone working to a call list?
12. Do all meetings have an objective?
13. Teach everyone to be assertive.
14. Ring every lost sale over the last 2 years and ask for new business.
15. Ring every won sale over the last three years and ask for more business.
16. Ask every customer: who else you should I be talking to?
17. Keep on top of every bit of current business. Be sure there is reason they want to buy.
18. Be brilliant.
19. Question well.
20. Be polite.
21. Be persistent
22. Remember their names.
23. Be on time.
24. Park in the right place.
25. Eat breakfast at home: don’t lose selling time at work.
26. When you get home: switch off. Relax.
27. Every 45 minutes: get up stretch and drink some water. Then get back on the phone. It wasn’t meant to be easy. At the interview you said you wanted a challenge. This is it.
28. Write clearly on the white-board what every extra % of discount does to the bottom line.
29. Never use the phrase: we need business. Say we need profitable business
30. Catch people doing things right.
31. Just when you want to go home: make one more call.
32. Read a sales book on the tube into work.
33. Listen to a selling podcast on the way to the meeting.
34. What is holding you back in selling? Identify it and sort it.
35. Every Wednesday 0900-0915: know the competition. Teach the competion SWOT.
36. Stand up for tough calls. So stand up all the time.
37. Remember your negotiation course?
38. Never give unless you get.
39. Give small.
40. Give slowly.
41. Remember your presentation skills course?
42. We present to get the business: no other reason.
43. Close.
44. Close.
45. Close.
46. And if they say no or maybe or later.
47. Handle it.
48. And handle it again.
49. If you can’t eventually close that business you shouldn’t have been doing that closing meeting.
50. QUALIFY: do they have MONEY? Are you talking to a DM?
51. Close.
52. Walk tall.
53. Look smart.
54. Look as if you are keen to do businees.
55. Have pad and pen.
56. Don’t let the lap-top come between you and being human.
57. Ask for the business
58. Ask for the business again.
59. Never use template slides.
60. Show that your slides have been lovingly created for them.
61. Show that your company is special and that your product is special and that you are amazing.
62. Never be late.
63. Close.
64. Keep closing.
65. Don’t tell: ask.
66. Ask open.
67. Ask closed.
68. Look for ways of creating urgency especially for action prior to year-end.
69. Before you plan to leave work write a priorities list for tomorrow.
70. A downturn really is an opportunity to show what you are made of.
71. Stop blaming the economy. Sell harder.
72. Be a rainmaker.
73. Get out at lunch-time and take a good walk.
74. Get back in and ring that elusive decision-maker again.
75. And again.
76. And again.
77. Brilliant: you got her.
78. Handle the objection.
79. And the next one.
80. And the next one.
81. Close. Brilliant you got it.
82. Get yourself a small latte. No-you don’t need a croissant; it’ll slow you down.
83. And get back on the phone.
84. 45 minutes left: 9 great calls.
85. Your close rate is getting better all the time.
86. Practise make perfect.
87. Success breeds success.
88. Love the job.
89. Plan the work.
90. Work the plan.
91. Be passionate about your business.
92. Be passionate about their business.
93. Farm current business.
94. Hunt new business.
95. Ask question to reveal what they need and your strengths.
96. If you are weak, influence to change their priorities.
97. Present to show your unique solution.
98. Talk value.
99. Talk solution.
100. Talk results.
101. And there is one word we never used. Did you notice that? Now: get back on the phone.

What sells?

1. Not just features, but benefits, too. They tell me why the feature is good for me.
2. Not just 'solutions' but results too. That helps me measure my investment long-term.
3. Not just logic, but emotion too. That's because I am human. And I worry.
4. Not just the price but value. That's because the guy about to deliver the next pitch has got a lower price.
5. Not just flash offices but trust too. That's because I'm cynical of where my money is going.
6. Not just the first PowerPoint slide with your mission statement but your questions of me. That's because I want to know if you really care about me and my business.
7. Not just your nice car but some investment figures. That's because I want to know is R&D happening.

That's what sells.

Why you will get the business

1. You really understood the brief and asked extra questions to get absolute clarity of how to win the business.

2. Your response is well-structured, easy to read, easy to understand, easy to navigate with all questions answered. There is a good executive summary and appropriate references at the end of the document. The proposal makes it absolutely clear why your proposal is unique.

3. The proposal looks good as an attachment and great on paper if printed out.

4. The paper proposal (with sufficient copies for each decision maker so they don´t see a poorly copied version) were sent secure delivery.

5. You will phone to check it got into the hands of your key decision maker.

6. They know exactly how to place the order with you.

Why you may not get the business

1. Your response to the proposal was sent a little late. And just by ordinary post.
2. The layout was unclear and some questions were not really answered.
3. It's hard to see why you are more expensive.
4. It takes longer than 5 seconds to find the number to ring you on with queries.
5. It seems like a standard response. That's because it is.

The good news is that all of those issues can be sorted next time. Kaizen: constant , never-ending improvement.

4 x 4 selling

When you set off on a 4 x 4 expedition, you get prepared. There's no going back for a spare part, the first-aid kit or the compass. Selling's the same: it's tough-especially at the moment. Before you walk out the door:
business cards-check
price list-check
note-book-check
pen-check
spares-check
directions to client-check AND

brilliant argumentation-check

You'd want to be lead by a decent explorer wouldn't you? Someone who could immediately put his/her hands on the fresh water supplies. Who knew how to put up the tents? Similarly, your client wants to buy from a professional. Demonstrate it at every step. Then you will get the business. Oh and notice you turned down the offer of doing the expedition in a Morris Minor, lovely though they are, cheaper though it is. IT CAN"T DO THE JOB. That's what you've got to convince them: the cheaper options CAN'T DO THE JOB.

(You may want to check out 4 x4 Productivity and 4 x 4 Presenting and 4 x 4 Life)

Selling in a Recession 9

Given that a down-turn sometimes means fewer transactions, how to make more money per transaction:
1. Put your prices up. Yes you can and surely you are not selling on price alone?
2. Give less discount, less often. Yes you can.
3. Sell more in each transaction.
4. Pay sales people on margin NOT revenue. Of course they won't like it; but the best salespeople will.
5. Start calculating your margin exactly and knowing what affects it.
6. Sell value NOT price.
7. Start today.

Selling in a Recession 7

Because money anxiety is higher-especially that of spending money-in a recession, you really need to create a sense of urgency which overcomes a desire on the prospect's part to delay. That means not only the benefits which accrue with the purchase, but the risks inherent in not purchasing such as loss of opportunity, loss of market share, exposure, failure to maximise opportunity. When you are selling get good at pointing out the cost of NOT proceeding, too.

Selling in a Down-Turn 6

Ensure your account management is brilliant. It costs a lot of money to win a sale. If the account is well looked after it should be easier to win business and winning more business means the cost of sale goes down, margin goes up and your overall profitability increases. Chase business: yes. Be a hunter. But once you have got it, look after it. Be a farmer.

Blast from the Past 1

First posted April 2007

Setting your fees

Now that you have got your start-up launched, it's worth giving lots of attention to setting fees. Just imagine the impact of an extra 10% per hour over a month...

1. Price by value not cost. Keep increasing your value and hence increase your fees.
2. As you pull away from the crowd and get better and better your fees can be disproportionately greater.
3. Don't discount. There is no discount for volume if you are a consultant.
4. Keep an eye on your competitor's pricing: not to copy them but to know what your customers will be comparing you with.
5. Be clear on payment terms, T&C and extras/expenses.

Selling in a Down-Turn 5

Be fast, be responsive. Don't cut corners on the proposal nor hassle the client but be there for them. Agree the next action and close. Not only does this get you the business before the competition grab it, it sorts out the time-wasters.