Eleven Ways to React When You Lose the Sale

November 29th, 2016

Eleven Ways to React When You Lose the SaleEveryone loses a sale now and again. It’s the nature of selling. Heck, in my career I’ve lost more sales than I can count.

But the way you react to losing a sale impacts how well you do on your next sales opportunity. And all your future opportunities.

With that in mind, here are eleven different ways you might react to losing a sale:

1. Bitch about it to anyone who will listen

2. Quit work early and go get drunk

3. Blame everyone and everything else

4. Get terribly depressed

5. Bemoan how stupid the buyer is

6. Curse your deity of choice

7. Give up

8. Complain to your boss that you can’t compete because your product/service isn’t good enough and/or it’s too expensive

9. Accept it and move on

10. Congratulate the buyer, wish them success, and let them know you’d still love to serve them in the future

11. Analyze your actions to determine if there’s anything you could do differently or better next time

Each of these is an understandable reaction. But only three are useful to you. And only two of those will help you close more sales in the future. I’ll let you figure out which those are. You’re pretty smart.

How to Prospect Profitably

November 22nd, 2016

High-Profit ProspectingIf you want more sales, odds are you need more prospects. But there’s more to prospecting than just raw numbers. And that trips up a lot of salespeople.

“Prospecting is not a complex process,” asserts Mark Hunter in the first chapter of his new book, High-Profit Prospecting. “It’s simply finding people who can and will buy from you.” Like so many things in life though, simple does not mean easy. And in this well-written book, Hunter elaborates on the prospecting challenges that today’s salespeople face.

The decline of the telephone and the emergence of email and other communication tools did not cause the evolution of prospecting. Rather, what caused it to change is a shift in knowledge. When I was prospecting twenty-five years ago, I had all the knowledge about my product—if the customer wanted to know anything, they needed me. Today the customer has the knowledge, and….the ability to choose from any number of options and companies. The customer now has the ability to ignore you, the salesperson. If and when they’re ready to buy, they often can make the purchase online without ever contacting a salesperson. The evolution of prospecting is not due to the number of communication methods available, but rather to the shift in who has the knowledge.

Hunter argues—and I agree—that in order to succeed in this new reality, salespeople need to combine some of the tried-and-true methods of the past with new digital tactics in an effort to deliver value and build confidence from the first contact on.

To that end, Hunter shares a wide variety of tactics you can use to improve every aspect of your prospecting, from planning to execution, including:

• 7 Things Motivated People Do to Stay Motivated
• 9 Places to Look for Prospects
• How to Tailor Your Prospecting Plan to Your Market
• 6 Ways to Separate Prospects from Suspects
• 10 Ways to Get a Phone Number
• How to Get Past the Gate-Keeper
• 10 Best Practices for Prospecting With the Telephone
• 11 Rules for Leaving a Great Voice-Mail
• How to Prospect with Social Media

Hunter also includes sample phone scripts, e-mail templates, and more, so you don’t have to struggle to figure out what to say. Simply adapt his words to your product or service!

Another element of this book that I love is its emphasis on profitability. (As you might expect of a book entitled High-Profit Prospecting.) Hunter makes an excellent point:

The type of leads you get will determine the price you get. If you’re not getting the price you want…the problem might be your prospecting process and specifically whom you’re targeting in that process.

Prospecting is not about going after whoever will talk with you or whoever you get routed to. Prospecting is about focusing your efforts toward the person(s) with the greatest potential to deliver not just a sale, but also a sale at maximum price.

With this in mind, Hunter discusses the differences between the “tactical buyer” and the “strategic buyer.” And the ideas he lays out all focus on reaching and working with the people who will value everything you bring to the table, rather than price-buyers.

High-Profit Prospecting is a book that lives up to its name. It’s easy to read, practical, and comprehensive. It will help you acquire not just more prospects, but more quality prospects. Which means not just more sales, but more profitable sales.

Six Things to Stop Doing to Boost Your Sales

November 9th, 2016

Six Things to Stop Doing to Boost Your SalesA lot of sales advice focuses on things you should be doing. But equally important to know are the things you shouldn’t be doing. Like what, you ask?

Listen to my appearance on Breakthrough Radio with Michele Price. In this segment, I share six specific things you’re doing that are sabotaging your sales efforts. Cut these things out and you’ll achieve better results almost immediately!

To learn more about Michele Price and listen to her interview other business experts on Breakthrough Radio (which I strongly recommend), check out TheBreakthroughRadio.com.