Sales and Sales Management Blog

October 13, 2009

Resist the Hype While Taking Advantage of Social Media in Your Selling

Filed under: sales,Sales 2.0,selling — Paul McCord @ 10:06 am
Tags: , , ,

Have you received this SPAM email yet that I received over the weekend?

“Do you sell? Do you still waste time and money meeting with prospects face to face?  Are you still cold calling, using snail mail, or off-line advertising looking for business?

If so, you’re already out of business and are just too dumb to recognize it.

Today’s smart salespeople recognize and understand the power of Sales 2.0.  They understand that 20th century selling is dead and if they’re still trying to sell that way, they’re dead too.  They understand that social media is not only the wave of the future; it’s the wave of today.

If you think you can outsmart the market, you can’t.  If you think that because you’ve been successful using outdated prospecting and sales methods in the past you can continue to be successful in today’s market using those same methods, you’re wrong.

Don’t let some ‘guru’ sell you some outdated idea of how to sell that no longer works.

We are one of the premier companies helping independent sellers like you capture the power of the internet.  Formed by a core of three young, visionary, brilliant entrepreneurs, we are not bound by the blinders of what’s worked in the past but are instead in tune with the future.  We’re not trapped by history.”

The email goes on in the same vein, selling the idea that the world has changed and what has worked for sellers in the past will no longer work today—and this company will, of course, help sellers learn how to forget all they’ve been taught and learn the “new” way of selling, the way that’s easier, more productive, that eliminates having to deal with prospects and customers face to face, that uses the tools of social media to prospect, sell, and service.

If you get this or a similar email, delete it immediately.  It’s a deceit.  I don’t mean it’s deceitful in the sense the people connected with the company don’t believe what they’re saying.  They very well may believe every word they write.  But what they believe is wrong.  They misunderstand what’s going on in the marketplace.

I’m sure you are at least somewhat familiar with the idea of social media.  Certainly if you’re reading this article on a blog or off a website, you’re internet active.

The authors of the above email are correct in the sense that social media is here to stay and its influence will continue to grow.  Where they have gone wrong is in believing that social media is capable of changing the nature of our world.  That is, that social media can change human nature.  It can’t.

Certainly if you are selling a commodity, you may find a larger and larger share of your market purchasing off the internet without any interaction with a human being—or just minimal interaction via email or instant messaging.  However, if you are selling anything other than a commodity, the majority of your market is still going to want to deal with real humans.  Yes, a small percentage of your market may be happy making a major purchase without involving a human, but most will not.  It’s human nature to want to deal with a human, to be able to ask questions and get immediate, personal answers, to negotiate face to face or at least earpiece to mouthpiece.

Consequently, those “20th century” prospecting and sales skills will be just as valid in 2030 as they were in 1990.  Our technology may change, our nature won’t. 

As buyers, we may take advantage of researching our potential purchase on the internet prior to connecting with a human, but that human connection will remain vital for the majority of us.  We may use social media to help find potential suppliers, but it can’t flesh out the relationship we need with the supplier.

As sellers we may use social media to let prospects know who we are and what our capabilities are, but we must still interact to understand their individual needs, wants, issues, and problems.  We can begin to connect but we can’t analyze or develop a solution based on the shallowness of a virtual relationship. We can use social media to gain attention but it can’t go to the depths we must go to develop the trust and loyalty we must have to sustain a business long-term.   

There have been those who have predicted in the past that technology would fundamentally change the way we sell.  They’ve been wrong time after time.  When the telephone came on the scene there were some who predicted that salespeople would never again have to spend time and money meeting their prospects and clients face to face.  They were wrong.

For some, the fax machine was the key to freeing sellers from having to meet face to face with prospects and clients.  Now they could transact their business over the phone and when it came time to get the contract signed, all they’d have to do was fax it to the client, have them sign it, and then fax it back.  Didn’t happen.

For others it was email and then instant messaging that would be the magic technology to change sales.  We could now carry on a complete conversation while in the middle of doing other things.  We could even send documents, pictures, even audio and video.  Not only could we do everything via technology that we do face to face, we wouldn’t have our ego on the line as in a face to face meeting, so negotiations would go quicker and more smoothly.  Wrong.

For the majority of us who sell in a defined geographic area, meeting face to face will still be the crux of our business.  For those of us who sell on a broader field, the phone may be our primary communication tool, but building a deep relationship will still be the crux of our sales activity. 

There are a gazillion social media experts haunting the social media sites looking to pick up new clients.  One of the things I’ve noticed about a great many of them is their age—young, very young.  There is certainly nothing wrong with being young and one might expect younger people to be more attuned to the new technology than someone older. 

But there is a serious problem with youth (this is not to dismiss the advantages of youth—I’d like to have a bit more youth than I have)–a lack of experience, or as the email above proudly puts it, “not trapped by history.”

The young are not trapped by history as some of us longer in the tooth may be.  But at the same time youth lacks a grounding that experience gives.  Although I did not live through the expectations that the telephone would free salespeople from having to meet with prospects and clients face to face (I’m not THAT old), I have lived through the introduction of the fax, email, instant messaging, blogs, Twitter, Facebook, and the other social media.  I’ve lived through several “revolutions” in sales that never materialized. 

In January of 2007 I had written a post encouraging sellers to learn more effective prospecting strategies as preparation for a quickly coming recession.  Of course, at that time the economy was doing well.  I received emails from a couple of young MBA’s claiming that I didn’t understand the “new economy” where there was no longer a fear of recession or a slowing of the economy.  These young MBA’s suffered from the same problem our young authors of the above email suffer from–a lack of historical perspective.  They believed they were experiencing something new, something revolutionary.  They weren’t, of course. 

There are some great social media coaches out there—some of them young.  Most social media experts recognize the limits of social media and actively work to help you meld your online and offline business activities. 

By all means, take advantage of the opportunities offered by social media, just don’t buy into the hype advanced by a few misguided souls who believe technology will change how humans act.  Our technology may be changing but human nature isn’t.  Technology may help you sell but it isn’t fundamentally changing how you sell.

June 24, 2009

Boost Your Sales series: “Integrate Social Media with Your Prospecting Approach,” by Ardath Albee

Integrate Social Media with Your Prospecting Approach
by Ardath Albee

Salespeople need to be expert listeners, delving into their client’s problems, needs and challenges to ensure their conversations are designed to deliver more “what’s in it for me” than ever before. This type of exchange used to be done almost exclusively face-to-face. But today’s reality shows buyers taking control of their purchasing process and putting off traditional sales activities until they’re ready. The upshot is that by the time they’re sales ready, it’s likely they know more about your company’s products and solutions than your sales reps.

So, what’s a salesperson to do?

Use social media to get your prospects talking…directly to you.

That said, you must realize that social media is not an instant-gratification endeavor. Listening is just as critical to creating engaging online dialogues as it is in face-to-face conversations. And, given the fact that there are no facial expressions, vocal tones or physical body language, listening is even more critical to creating the outcomes you want via online social interactions.

Location, Location, Location…
The first step in listening is to determine where your prospects spend their time online. It could be LinkedIn groups, Twitter or blogs (their own, or someone else’s). They could also spend their time in industry forums, topical communities or leaving comments on articles and blog posts published by industry portals. By spending some time where they hang out, you’ll discover the best ways to open a dialogue.

The Key to Listening
Many companies track and follow what’s being said about their company with Google Alerts. Then they respond by trying to control the conversation, defend themselves to naysayers and pat themselves on the back when they hear kudos. We’ve all known people like this. We call them self-centered and try to avoid them. The value of whatever they contribute to the conversation is diminished because we know that what underlies their effort is based solely on self-interested gains. They’re surface listeners.

Connecting with people in a way that builds engagement beyond momentary attention is critical when employing social media for prospecting. People want you to help them solve their problems. Heck, they can buy something similar to your solution from numerous sources. So, give them a differentiating reason to buy from you by listening to what they’re saying and responding appropriately. Get beneath the surface words to the meaty meanings.

By listening beneath the surface, you’ll gain a lot of useful insights like:

  • Perspectives about problems and objectives your prospects are dealing with.
  • Terminology used conversationally by different market and industry segments.
  • Communication efforts they don’t like.
  • Clues that indicate the real root of a problem so you can help solve them.
  • What your customers really value, which sometimes is the little stuff you may think is unimportant, but can be used to jumpstart an interactive dialogue.

As you listen, think about how you can be helpful. Don’t give in to knee-jerk reactions. Wait until you understand the context before you respond. And, when you do, make sure your response shows you’ve given their input care and consideration. Listening requires a clear intent to understand. Listening does not mean mining online exchanges to find places to post a comment that’s out of context because you can’t be bothered to integrate yourself into the conversation.

CRM + Marketing Automation
Salespeople who use CRM systems integrated with marketing automation have a leg up on those who aren’t so privileged. You’ve got access (or should) to a wealth of information that can jumpstart your listening. Plus, you know just which prospects have the most potential, and what they’ve expressed interest in.

Given your prospects’ interests, be on the lookout for useful content you can provide to enrich your online interactions. Make sure it’s objective and focused on your prospects’ priorities whether it comes from internal or external sources. Given what you know about your prospects, consider requesting articles and white papers with a specific topic be developed by your marketing team. Or, ask them to provide a resources list with links to collateral you can use.

If you’re stumped for external resources, a huge number of analysts have blogs and Twitter accounts. There are independent industry experts writing articles and blogging about issues relevant to your market. Providing a mix of content in addition to conversational exchanges will help to establish you as a trusted resource. And, that’s just where you want to be. That way, when your prospects need help, they’ll think of you first.

Define Your Social Media Purpose
Salespeople should use social media in conjunction with other methods to create an integrated prospecting approach. Social media can be a great way to keep up appearances. This means that your purpose for social media may be best executed by using it to keep yourself in front of specific prospects by participating where they can see you, and have the choice to engage.

If you’ve left several voicemails and followed up with email, but received no response, perhaps you have the opportunity to catch their attention and gain a dialogue via a social media interaction. The big thing to remember is not to give the impression of a stalker. As long as you stay focused on being sincerely helpful as a resource for valued insight and information, you stand a good chance of creating a relationship.

Exchanging comments on a blog or via an industry discussion group or Twitter can be seen as much less of a commitment for a prospect who has yet to decide they’re ready for a sales conversation. Proving you’ve got expertise and answers they need can also serve to provide a reason to connect with you, even if they’ve ignored your other efforts to contact them previously.

Always Be Thoughtful
Social media can become an impactful tool for improving your sales process, if used appropriately and with purpose. Just remember to listen first, respond in context and always with the intention of being a helpful resource. Don’t try to sell. By engaging people in topics related to solving their problems, the dialogue will grow beyond the limitations of open, online exchanges to a request for an offline, personal conversation. If you’re paying attention, you’ll know when the time is right. And so will your prospects.

Ardath Albee, B2B Marketing Strategist of her firm, Marketing Interactions, Inc, helps companies with complex sales increase and quantify marketing effectiveness by developing e-marketing strategies driven by compelling content. She taps over 20 years of business management and marketing experience to help clients, including Covad Communications, LANDesk and Silicon Graphics [SGI], create customer-focused nurturing programs to engage and progress prospects to sales readiness. Her book, E-Marketing Strategies for the Complex Sale will be out this fall from McGraw-Hill. Ardath also authors the industry-leading Marketing Interactions blog.

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Like What You See Here?

If you like what you see on the Sales and Sales Management Blog, I encourage you to either:

Save it to your RSS Reader

or

Subscribe to my POWER SELLING newsletter where twice each month you’ll get a full length article designed to help you increase your and/or your sales team’s sales.  Just shoot me an email at pmccord@mccordandassociates.com with “subscribe” in the subject line and your name and email address in the body and I’ll get you subcribed, and since I hate SPAM as much as you do, I’ll never sell, lease, rent or give your information to anyone—EVER.

June 23, 2009

Boost Your Sales series: “How to Find the Right Social Media Strategy for Your Business,” by Cindy King

How To Find The Right Social Media Strategy For Your Business
by Cindy King

“How can social media improve my business?” 
“What will Twitter, Facebook and LinkedIn bring to my bottom line?”
“What is the ROI of social media?”
And…
“Are businesses really making sales through social media?”

These are questions I heard often this week while attending the Social Media Success Summit 2009 . They are heavy questions.  And there is a problem: the real answers people want depend on their business and their markets. Social media is about connecting with people.  This means connecting you in your business with your clients.  This is why I believe that businesses need to jump in and participate to find the answer to these questions themselves. 

In this article, I hope to help you get a little closer to these answers by telling you my own story as a small business owner using social media to reach international clients.

Why It Takes Time To Find The Answer

Less than a year ago, I did not even realize that a blog was social media. My blog was 6 months old and it was time to look for ways to improve my online presence.  I blog for business and had no time to waste.  Luckily I met Chris Garrett  who gently got me to look more closely at the other social media platforms, even though they seemed unsuitable for a small business struggling with time commitments.

So I reluctantly tried Twitter, while I blogged daily on two blogs, had a dormant Facebook profile, a LinkedIn account and a small group of social media friends to coax me on.  It took me 3 months simply to understand what social media was about.  Don’t panic, it does not take everyone this long.  But I had a few prejudgments against social media to get rid of and was not quite as web savvy as I am today.  I also found that I needed to understand several of the social media tools individually before I could see what was happening in the big social media picture.

Once I understood the social media environment the fun started.  I began to play with it, to see what value social media had for my business.  It took another 6 months to understand how the people in my market use social media and how I could use social media as a prospecting tool.

That is my social media story in a nutshell. 

For many businesses it is not that simple.  Management wants answers to those big questions before jumping in. 

What Is The Buzz About?

First you need to understand why social media is important.

Although social media started out as personal communication platforms, these platforms are in the process of becoming useful tools businesses to reach clients.  For example:

  • Facebook is used successfully by many businesses in the B2C world as a sales platform.  Other businesses are using the Facebook Pages as a hub within a strategic social media presence. 
  • LinkedIn is not just a place to virtually exchange business cards.  For example, there are polls and applications to share slide presentations.
  • Twitter is now widely accepted as one of the easiest and fastest ways for businesses to poll their audiences and get immediate feedback.  Tweets are now indexed by Google, which improves overall search results.

Although each of these social media platforms will continue to evolve, it is this form of communication that is important.  Social media communication will continue to expand in today’s customer-centric world of inbound marketing. 

Social media is a place to connect with your clients.  You need to find out what part this plays in your sales cycle.

How Can Social Media Help Your Business?

Before you can answer this question there are three important things you need to establish:

Right attitude – You need to understand how social media communication works.  You can only pick up the right attitude through participating. People have different communication skills, so this can take more or less time to get right.

Context – Many businesses wonder if their clients are on social media.  The answer is often yes.  Your clients are like everyone and probably spend time online. The real question is one of context. 

  • What are our clients doing on social media?
  • Where are they?
  • Why are they there?
  • How are they using social media?

You need to understand the context your clients are in when they use each social media platform.  Only then will you be able to find the right approach to connect with them on social media. 

Clear Business Objectives – Social media platforms have a wide range of bells and whistles… and things that can seem absurd in a professional environment.  If you want business results out of social media you must stay business focused and learn to navigate in this environment.

Although a direct sales approach does not work on social media, you can use social media tactics within a well planned soft sales approach based on a strong value proposition and engaging with people.

Clear business objectives also help you to handle some of the challenging aspects most people struggle with on social media:

  • Get over any personal issues you have with networking.  People who are good networkers in traditional environments usually adapt well to social media networking.   Social media highlights personal preferences and styles in networking.  Clear business objectives helps you keep to business networking.
  • Avoid wasting time on the gadgets.  There are many social media tools to “help” you get the most out of social media.  It is very easy to add on extras that do not add any value to your business strategies and get you out of focus. Clear business objectives help you to come up with a social media system that works for you. 
  • Stay focused on targeting the people you want to meet. 

Why My Tweet Plan Boosted By Business?

My first Tweet Plan revolutionized by business.  It opened doors to people I would never have dreamed of meeting.  Yes, I have had a few clients come to me through Twitter.  But this is not where I have had the highest return on my time investment. 

What I appreciate most out of Twitter is the ease in making high quality contacts.  Instead of using social media to get individual clients I deliberately looked for people who could bring me many clients.  I wanted high quality sources of referrals to help me develop my new business. 

What I found was that I can make contacts very easily on social media, but not sell directly.  To make these contacts work for my business, I need to take them outside of the social media environment.  Social media is simply a part of the initial cycle to find clients.

This is why I started the New Year by deciding to connect directly with one new Twitter contact each day.  By phone, or by email.  This means that my sales success rate depends on my traditional sales and business skills. 

And this leads me to the most important thing to remember about using social media to develop your business:  Take the conversation outside of social media.

Conclusion

Social media does not provide miracle solutions for businesses.  You still need good common business sense.  It does have one distinct advantage though: it puts everyone on the same playing field.  Small businesses can have the same business success as the big ones.

Today I have learned how social media works for my business. 

  • It is not just one social media platform that brings in the results.  People are different and multifaceted.  They bounce between Twitter, my blog, my website, Facebook, LinkedIn, FriendFeed.  They check out what I have to say in several places before contacting me directly. 
  • It is not just the inbound effect of people contacting me either.  I also go looking for interesting people and reach out to make direct content.  This is how I meet 2 or 3 good contacts each week.
  • It is not just me sitting alone behind my computer.  Several networks of friends for different social bookmarking activities and networking help me learn more and keep up to date. 
  • It is not just about my business and what I offer.  It is also keeping a tab on what is happening in my industry online.  This increases my business intelligence and gives me interesting information to pass along through social media platforms.

My social media strategy does not work for everyone.  Different business models need to adapt their social media strategies to fit their needs.

Cindy King is a Cross-Cultural Marketer & International Sales Strategist  based in France.  She uses her dual background in sales & marketing to help businesses improve their international sales conversion and develop country-specific international sales guides.  Connect with her on Twitter @CindyKing

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Like What You See Here?

If you like what you see on the Sales and Sales Management Blog, I encourage you to either:

Save it to your RSS Reader

or

Subscribe to my POWER SELLING newsletter where twice each month you’ll get a full length article designed to help you increase your and/or your sales team’s sales.  Just shoot me an email at pmccord@mccordandassociates.com with “subscribe” in the subject line and your name and email address in the body and I’ll get you subcribed, and since I hate SPAM as much as you do, I’ll never sell, lease, rent or give your information to anyone—EVER.

June 22, 2009

Boost Your Sales series: “Would You Hire an Administrative Assistant Who Can’t Use Word?” by Nigel Edelshain

Filed under: business,sales,Sales 2.0,selling,technology — Paul McCord @ 6:59 am
Tags: , , ,

Would You Hire an Administrative Assistant Who Can’t Use Word?
by Nigel Edelshain

Would you hire an administrative assistant who can NOT use Word – or a computer?

No chance, right? You’d think that was crazy most likely. But cast you mind back a decade, or two, and that was not a stretch. Remember when people sent inter-office memos typed on paper with a typewriter? A what? A typewriter.

Guess what? I believe sales people who cannot use social media and Web 2.0 tools in ten years from now will be of the same value as administrative assistants who can’t use Word today. Am I bonkers? Place your bets. Mine is placed.

If you’re reading this and you are a sales person, sales manager or CEO and you’re not informed about Sales 2.0 and how social media can be used in the sales process, get informed. If you don’t, I see your competition eating your lunch – and after your lunch your pipeline.

Sales 2.0 tools will be critical tools for sales people. Why? Because these tools make the inherently inefficient sales process that most companies use more efficient. They are game changers. Way beyond the impact of CRM.

How Broken is Cold Calling?

Let me talk to you about prospecting. Most companies fill their pipeline largely on cold calling and often on the worst kind of cold calling, which I call “smile and dial”. “Smile and dial” is all about volume.  Reps don’t prepare they just dial. Problem is we are all getting more and more screened – harder to reach.

It takes at least 10 dials to even speak to a prospect (I’ve heard of 20 plus dials in certain markets).  Then in the best case 1 in 10 people who connect to our “smile and dialers” will take a meeting (or whatever the next step is in our sales process). 

So here we are “smiling and dialing” 100, 200, 300 or 400 times to get one appointment.  Ouch! My dialing finger is hurting.

So this is state-of-the-art for sales is it?

What kind of production line is state-of-the-art where 399 widgets are defective and only 1 gets through? TQM anyone?

Eight Times More Effective

Good news. Great news actually. As social media and other smart Web 2.0 tools are being rolled out it turns out these tools can help address this lousy prospecting situation. Used correctly these tools can change the odds of getting that meeting and advancing the sales process by an order of magnitude (roughly EIGHT times on average in our testing so far – actually that’s conservative but if I say more you’ll certainly NOT believe me).

How come? That’s unbelievable isn’t it? Well on closer inspection not really.

What’s happened is our ability to get through to buyers has been degrading for several years, certainly post-Google. Buyers started placing less-and-less value on meeting with sales people who would just bring them product updates when they could get all that information online by typing just a few keywords into Google.

It took until about 3 years ago for tools to appear that were really designed to help sales people sell (and for us consultants to figure out how to use some of the social media already out there to help sales people sell). Given that sales people were at such a disadvantage by that time, it’s not that surprising that finally arming them with useful tools is making a big difference.

Ask Paul about Referral Selling

Consider just one key factor. The “big daddy” of all factors that dictates whether you will get into a buyer’s office: relationship. We humans have not changed there. We want to meet with people we know, like and trust. That’s what relationships do for us. And we’re OK if there’s a referral involved. If you tell me “Joe” is OK, then I’ll probably meet with “Joe”.

Guess what? There’s a fellow called Paul McCord who’s an expert on this is. It’s called referral selling.

Yes it is referral selling but it’s time to figure out how to do referral selling at Internet speed. The social networks out there allow you to do this kind of referral selling much (much) faster than you can by meeting with people. The tools expose the “social graph”. They show you who knows who. They set up relationship selling and allow you to start it from your desk.

Ask Paul about referral selling. Referral selling has always been an order of magnitude more effective than cold calling.  But now there are tools to help you do that much faster and more efficiently. Using these tools is called Sales 2.0.

What’s that on the Horizon?

The tide is changing and that wave coming in is called Sales 2.0. It may look small to you way out there on your horizon but its traveling fast now. You may want to get out there and meet it before it breaks on your shore. It could just be a Tsunami in the way we sell.

Nigel Edelshain is CEO of Sales 2.0 LLC. Companies that work with Sales 2.0 improve their sales results 2-3 times. They achieve these results by combining the use of Web 2.0 tools and social media with well-though-out sales processes.  Nigel has sold millions of dollars of IT solutions to major Fortune 500 firms. He was head of sales for the financial services vertical for Starpoint Solutions. While at Starpoint, he sold e-business projects to senior business and technology executives in Wall Street. Prior to Starpoint Nigel worked for Platinum Technology (now CA) selling IT professional services. Nigel graduated from Wharton’s MBA program in 1993 and has an undergraduate degree in Microelectronics from Edinburgh University.

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Like What You See Here?

If you like what you see on the Sales and Sales Management Blog, I encourage you to either:

Save it to your RSS Reader

or

Subscribe to my POWER SELLING newsletter where twice each month you’ll get a full length article designed to help you increase your and/or your sales team’s sales.  Just shoot me an email at pmccord@mccordandassociates.com with “subscribe” in the subject line and your name and email address in the body and I’ll get you subcribed, and since I hate SPAM as much as you do, I’ll never sell, lease, rent or give your information to anyone—EVER.

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