by Art Waskey | Nov 3, 2020 | Art of Sales Weekly, Featured
The seasoned salesperson knows where he/she is going and how to get there. It’s typical, however, to those new to the profession to feel insecure. In fact, it’s a good sign. Quoting Socrates, “The beginning of wisdom is recognizing the depth of your ignorance.” As a rookie, the young salesperson does not have a great deal of prior experience on which to develop his approach to a sale. Acknowledging this lack of insight is step one in overcoming the obstacle of inexperience.
Preparation and practice
Let’s look at what makes a great professional. An effective public speaker, for example, achieves success by beginning with a well-developed script. He will continually edit and revise his words to sharpen the message. Then, he will spend countless hours rehearsing his speech until he can say it in his sleep. By the time he is behind the podium he has complete confidence in his prepared remarks and no fear of misspeaking. The same pattern of intense preparation and practice is also true of the professional golfer who is able to make the winning putt, or the NBA star sinking his final shot. These professionals have overcome inexperience by developing the kind of confidence that comes from a practiced approach to their game. Their winning strategy is second nature to them and can be mentally played back at the right time and in the right place, like a tape recording.
4 Elements to a Winning Strategy
What does a sales professional need to develop and practice to overcome the obstacle of inexperience? Here are 4 elements that I consider essential to a winning sales strategy.
- Identify the decision maker(s) carefully and early in the sales cycle
- Determine which results will constitute a win for each decision-maker
- Know and use your personal strengths to create a win
- Find people with prior knowledge of the account and enlist their help in obtaining pertinent information
My advice to the new sales rep is to develop a winning strategy and embed it in your psyche. In that way — like the public speaker, the golfer, or basketball player — when the pressure is on you are able to instantly play the right tape.
Get tips and tricks like the above in The Art of Sales books. Or subscribe to the FREE monthly articles here.
by Art Waskey | Oct 13, 2020 | Art of Sales Weekly, Featured
Many of the sales managers and reps I advise have commented that working from home during this pandemic has made them more efficient. This has come as a pleasant surprise to companies that previously had only on-site employees. Many companies are now moving to make a higher percent of their work force home-based.
David McGuire of the Forbes Finance Council reported in a July 31, 2020 article, Big Changes Are Coming To Commercial Real Estate Industry In The Wake of The Pandemic, that “Retail space is expected to see a major loss in demand in the coming years, with some expecting negative demand for up to 13 quarters. A large percentage of workers are currently working from home, and many employers expect a great part of their workforce will continue to do so.”
Improved Productivity
What is contributing to the belief that working from home is more efficient than reporting to an office? Stephen Covey in his classic, The 7 Habits of Highly Effective People, offers some insight. In his Time Management Matrix, Covey suggests that we should focus on two quadrants for improved productivity. They are: Important and Urgent and Important not Urgent.
Of lesser significance to efficiency are the quadrants he labels: Not Important but Urgent, which includes interruptions, some calls, emails, reports, and meetings, pressing matters, and popular activities; and Not Important not urgent matters, like trivia, busy work, some emails and phone calls, time wasters, and pleasant activities.
Concentrated Work
In an office environment there are more opportunities to be distracted by unimportant work details. The longer we are away from the desk, the more time it takes to get back into what Cal Porter describes in his book Deep Work, as the un-distracted deep thought which is necessary for concentrated work. At the office, trips to the coffee pot, water cooler, or bathroom, where we encounter colleagues along the way, can quickly turn a 15-minute break into one that stretches into a half-hour. If we remain disciplined about avoiding the kitchen sink and laundry, there are far fewer distractions at the home office and more time for deep thought.
More Efficient Work Days
Technology has changed the rules and forms of business socialization and has been a game changer for the stay at home employee. Virtual meetings have become the norm, cutting way down on time spent traveling. The hours that would otherwise been eaten up by a long commute also add productive time to the at-home worker’s day. Increased time for deep thought and fewer distractions in the home office translate into greater productivity and more efficient work days. Welcome home!
Get tips and tricks like the above in The Art of Sales books. Or subscribe to the FREE monthly articles here.
by Art Waskey | Jul 13, 2020 | Art of Sales Weekly, Featured
We all know the value of a good contract, one that holds a customer to a solid, long-term business commitment. Getting a contract signed is therefore an important part of sales rep’s job.
Five Tips that Work!
- For a new customer, agree to hold prices firm for a year if he or she will sign a five-year contract.
- For an existing customer whose contract is about to be renewed, offer this option: an increase in price each year with no contract, or, a firm price each year with a five-year contract.
- For a long-time and valued customer, offer a price rollback for signing a multi-year contract.
- Highly sophisticated accounts often prefer to operate with contracts. You might suggest to the decision-maker you are working with that top management would be impressed by his forethought in getting contracts implemented.iH
- In accounts where you have excellent relationships in place, you might suggest that a contract would protect both companies if either experienced an internal change.
Best Practices to Remember (when negotiating)
- On a sales call, when confronted with a client who is locked into a deal with another company, always ask when their contract is due for renewal. Return two months before that date to remind the customer that the contract is due and ask if you can submit pricing. This demonstrates your determination to service that customer and tends to impress most decision-makers.
- Always ask to see competitive contracts. Customers often will let you review their contracts and give them your advice. Be aware, most contracts have an “evergreen clause,” meaning cancellation notification must be given by a set time prior to the anniversary or the contract automatically renews for another term.
- I also find it is good practice to give your customer an opportunity to renegotiate if they feel an existing contract with your company is one-sided. Remember, “You can get to the top by getting to the bottom of things.” Find out what the issues are and address them. A contract review generally yields greater customer satisfaction and sets you up for more opportunities going forward.
- Finally, always start the day by thinking about getting a contract signed. That way you will not return at day’s end empty handed!
Get tips and tricks like the above in The Art of Sales books. Or subscribe to the FREE monthly articles here.
