What does it take to be successful in sales?

Some say the most important thing is Enthusiasm.

en·thu·si·asm n.

1. Great excitement for or interest in a subject or cause.
2. A source or cause of great excitement or interest.
3. Archaic

• Ecstasy arising from supposed possession by a god.
• Religious fanaticism.

While you need to have a passion for what you do and what you sell, it takes more than enthusiasm to be successful.

Selling is not just “telling.” Successful selling takes more than just spewing facts about products and services. It is relationship development, prospecting, making the approach, interviewing, presenting, answering objections, asking for the order, and keeping promises. Selling requires enthusiasm, product knowledge (yours and your competitors), and confidence.

con·fi·dence n.

1. Trust or faith in a person or thing.
2. A feeling of assurance, especially of self-assurance.
3. A trusting relationship: I took them into my confidence.
4. The state or quality of being certain: I have every confidence in your ability to succeed.

Expertise breeds confidence. Confidence results from knowing you are prepared, and that you can deliver and keep promises. Confidence forms the basis for enthusiasm. Enthusiasm is a choice. But still you don’t want to run around screaming about your product. Unbridled enthusiasm results in a lack of focus. It takes more to truly succeed in sales.

pro·fes·sion·al·ism n.

1. Professional status, methods, character, or standards.
2. The use of professional performers, as in athletics or in the arts.

Professionalism takes all of the factors listed above to a higher level. It helps you form a cogent story, run your business like a business, build and work a plan in an organized, focused manner.

So what is the most important factor?

There is no one most important key to success in sales; they are all important! Your success is a product of how well you execute on the activities and behaviors listed above, and the attitude that you bring to these tasks.  Successful salespeople are confident in their abilities, enthusiastic about their solutions, and professional in their execution.

Good selling!

Marketing is serious business, and you should always be serious about serious business. Yeah, right…

Logan Crawford portrays a comical news anchor in a series of TV commercials for AT&T’s the Backflip, from Motorola. Crawford is seen “reporting the news that’s important to you…” with impeccable sources such as Facebook and Twitter. The key feature of the Motorola Backflip is advertised as “Facebook, Twitter, text and more, streaming on a single screen.”

The commercial spoofs the common absurdity of social media posts with lines like, “This just in via text message and wall post: “The search is on for cute boots.” Another line reads, “This just in on Twitter and Facebook: A local bachelor has just enrolled in Karate.”

Here’s the paradox; so many social media posts are trivial dribble – and AT&T is using that fact to SELL. We buy from companies that get us to laugh at ourselves. The question is simple; do you take yourself a little too seriously in your marketing and sales presentations. The work of an advisor is serious business, but too often advisors treat every recommendation as if they are a doctor telling a patient they have terminal cancer. As a professional it is perfectly acceptable lighten up, use a little humor, and let your clients see you are real, even when you are making important recommendations. Don’t try to be a comedian, just relax and be yourself.

Good selling!

CLICK HERE TO SEE THE AT&T COMMERCIAL

One of the factors that differentiate things that we succeed at, and things that we fail at, is focus. In the workplace, if you manage or even work with others, you know how critical an ability it is for a team to focus.
Focus is critical for client meetings as well. Ever come out of a client meeting and say, I forgot to…!” Consider using a Client Meeting Agenda. Nothing formal is required, but a little additional planning prior to your meeting makes certain you don’t forget anything. Take a look at the following question headings and items that you might include on such an agenda:

• Items to cover today
• Areas of Need
• Additional Products/Services To Recommend
• Introductions Requested
• To-Do Items As A Result Of This Meeting

Using a short form – even if you write in the details – makes certain nothing is left to chance and nothing is forgotten.

Good selling!

Many firms have a “packaged” proposal system. While proposals are all over the map in terms of structure, most contain huge amounts of information, with numerous charts and graphs, volumes of copy, and endless disclosures. Whether you present financial plans or individual product presentations, proposals generally contain enough information for a doctoral dissertation. It’s all about disclosure and dictated by the compliance department.

Some clients want the bottom line. Other clients look for detail. And after all, isn’t the presentation about the client? How do you build a presentation and presentation strategy that always provides you with the tools you need to deliver whatever information your client needs to make an intelligent buying decision?

Consider making a summary of recommendations for your presentations. Take the detailed analysis and spreadsheets, and put them in an appendix.

If your client channels Jack Webb and wants the facts – just the facts, or if the client is an actuary with graduate degrees in statistical analysis and engineering, you will be prepared to provide the information needed to fulfill your obligations to communicate in a manner best suited to your client and provide appropriate and complete information. Provide the summary, and give the clients as much detail as they need. Your closing ratio will go up because you are adapting your communication techniques to your clients needs.

Good selling!

As a professional speaker, marketing consultant, business coach, and high level-sales trainer, I meet with a wide variety of salespeople and consultative advisors. This week one of my engagements was to the mutual clients of a retirement plan distributor and a third-party retirement plan administrator, or TPA. One of the points that was discussed of the flaw of SBS© or “Selling By Spreadsheet©.

Too many so-called advisors feel they are providing value by selling cheapest as best.  Advising is really telling a client what is the best solution to their problem. Sometimes price comes into play, but if you are selling a service, usually the main selling point is the quality of service, not price. When you sell price your biggest risk is someone else can do it even cheaper, and if you look hard you can always find it cheaper!

A recent commercial by Office Depot says it well. The commercial depicts a barber shop best by a cheaper competitor, and how they address the challenge. When faced with a shop across the street offering $6 haircuts, they counter with a sign that says, “We Fix $6 Haircuts.”

So what’s your story? Build a defining statement that truly demonstrates your value as an advisor, and quit positioning yourself as the cheapest alternative. Position yourself as the best alternative.

Good selling!

To see the Office Depot Commercial, click HERE.

Restaurant business is down due to the economy; people do not go out as often. In the November 2, 2009 issue of Nation’s Restaurant News, trainer and professional speaker Jim Sullivan wrote, “Not that we’re out of the woods by any measure. Grocery prices are falling and restaurant prices rising. Technomic recently reported that in the past three years 21,425 units have closed in the United States, and 84 percent of those were full-service operations. That reflects the worst three-year contraction in foodservice history.”

What does this possibly mean to financial advisors? Coupled with consumer’s expressed desire for education and guidance as to where to go from here, consider a tried-but true marketing concept: dinner seminars.Advisors report seminars are more popular than any time since the 80’s, and clients are attending seminars in record numbers. Restaurants need the business. Contact restaurants to negotiate more favorable pricing for dinner seminars. By making a commitment for multiple events, and you might get a significan price reduction. Also ask for complementary gift certificates. Often you get these at a greatly reduced costs, because restaurant operators know when you have a gift certificate, you bring guests!

Americans love to eat out. They want and need economic news and education. Use the current situation to your advantage as you demonstrate to people in your community you continue to provide information and education that help them make intelligent decisions about money, and do so in a cost-effective manner.

“If you feed them, they will come.” Good selling!

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This business growth idea solves a problem for financial advisors and financial wholesalers; what is the best use of your time as you mutually decide if you are going to develop a long-term advisor/product partner relationship.  Consider the following.

For the advisor:

After meeting with or hearing a wholesaler, ask yourself this question: “Is this a company, a person, and a product that may provide benefit to my clients and help me grow my business?”  If the answer is yes, for the next wholesaler appointment schedule two or three joint calls with prospects who fit an ideal prospective client profile.  The wholesaler will show you how to sell the product and you get to be a buyer’s advocate for your clients.

For the wholesaler:

After an initial call, or with advisors you have seen on several occasions without sales success, help the advisor decide if you are a fit for his/her business.  If so, do not make additional calls without joint sales calls on the advisor’s clients and prospects.  Schedule these appointments for thirty to forty minutes. Remember, telling isn’t selling. Show your advisors how to properly position your product.

Good selling!

In the course of serving their prospects and clients, financial advisors recommend many products and services.  You might consider several different solutions for a particular need.  Too many advisors offer a client several options in the name of helping them make an informed decision.  At times these advisors provide a spreadsheet of products along with the accompanying product details and minutia.  The advisor wants to “educate” the prospect.  In most cases these product and service comparisons result from the fact that the advisor poorly profiled the prospect.  If you ask enough questions and work hard to build trust, you will know what the prospect needs, and prospects sense conviction. The prospect doesn’t want education – they want solutions.

Of course there are times when you need to compare and contrast different solutions to help the prospect make a decision.   It makes sense to have a secondary recommendation in the bag, but don’t lays multiple options out in front of the prospect.  This practice confuses people and confused minds never say yes.  Do your job. Be strong in your opinions.  Know what the prospect needs, and sell it with conviction.

Good selling!