Sales Development & Training
7/23/13

Agenda
Updates
Prospecting Techniques
Networking
Time Management & Organization
Organizing Follow Ups
Selling Techniques
Objections
Open Discussion

Prospecting Techniques

Networking

Prospecting Techniques
Networking
Networking is an incredible way to get in front of a large group of clients and referral partners in one shot
Networking is not so much about selling to the people who are at the event, although you will find client opportunities there, it’s more about finding good referral partners with whom you have the potential to pass business back and forth

Prospecting Techniques
Networking
Finding Good Referral Partners
Mid-Sized Business
Commercial Bankers
Transactional Attorneys (Real Estate, Business, Buy/Sell, etc.)
Commercial Real Estate Brokers/Agents
Executive Coaches
General Consultants (marketing, management, etc)
Accountants
Commercial Insurance Brokers
Small Business
Business Lawyers
Business Bankers
Business Loan Officers
Business Coaches
Marketing Specialists (SEO, Graphic Designers, Copywriters etc)

Prospecting Techniques
Networking
Knowing the Right Client
Retail (both Main Street shops and larger organizations)
Professional Services (law firms, accounting firms, IT Services, etc)
Dentists (cosmetic, general, restorative, etc)
Manufacturing (what's left of it here in town)
Any organization with a sales force (from 5 sales reps on up)
Anyone with a new business or looking to start a business

Prospecting Techniques
Networking
Mixers
Networking mixers happen over breakfast, lunch and happy hour
When looking for networking mixers, look for active event calendars (at least one per month, preferably 2-4 per month)
Evaluate the attendees (are there a disproportionate amount of MLMs, sales people, new businesses, people who are clearly struggling to make ends meet, etc)

Prospecting Techniques
Networking
Follow Up Meetings
This is the time to have a more direct and expansive conversation with a potential referral partner
These are typically coffee meetings or drinks over happy hour

Prospecting Techniques
Networking
Follow Up Meetings
You should always leave a follow up meeting having discussed these things (preferably in this order):
What they do and what makes them special
Who their perfect clients are
Who their perfect referral sources are
What we do and what makes us special
Who our perfect clients are
Who our perfect referral sources are
Other networking opportunities you may have for each other

Prospecting Techniques
Networking
Follow Up Meetings
You should always leave a follow up meeting having discussed these things (preferably in this order):
What they do and what makes them special
Who their perfect clients are
Who their perfect referral sources are
What we do and what makes us special
Who our perfect clients are
Who our perfect referral sources are
Other networking opportunities you may have for each other

Prospecting Techniques
Networking
Organizing Your Own
This is a great way to “put yourself on the map” if you run it properly
The goal here is simply to expand your network and get to know more people
We’ve done hosted cocktail parties, organized happy hours and fundraisers with plenty of success

Prospecting Techniques
Networking
Organizing Your Own
Location selection and preparation is key
If you’re going to have it at a public place, you have to have a way to identify people who may be attending that you don’t know yet
Coordinate with the bar tender and host/hostess so that they know that people may be joining you for an event there
Be sure to arrive at least 15 minutes early so that you can greet people and handle any last minute details

Prospecting Techniques
Networking
Target Breakfast Groups
These are power partner groups we put together for active, targeted networking
Should meet monthly or semi-monthly
Shouldn’t be any more than 10 people (including you)
This group should be a carefully selected group of trusted referral partners who are actively selling into similar accounts (employee size, revenue size, location, etc)

Prospecting Techniques
Networking
Target Breakfast Groups
Meet over breakfast to discuss any target accounts
Everyone comes to the breakfast with five “target” accounts they’d like to meet with to try to sell in to
Go around the table and discuss these accounts and anyone who “the table” knows in the account to talk to
After the breakfast, everyone walks away with each others’ target account lists and looks for opportunities to refer each other into those acounts

Time Management & Organization

Follow Ups

Time Management & Organization
Follow Ups
Different types of follow ups should be handled separately
Follow ups fall into three categories
Prospecting
Sales
General

Time Management & Organization
Prospecting Follow Ups
Prospecting follow ups are any follow up activity that must be done to get an initial sales meeting with a new prospect
Prospecting follow ups come from
Cold calling (typically in the form of an email and a follow up phone call)
Canvassing (typically in the form of a phone call to schedule a meeting
Networking (typically in the form of soliciting an email introduction from a referral source who’s said “I should introduce you to…”)

Time Management & Organization
Sales Follow Ups
Sales follow ups consist of anything that needs to be done to move the sales process to the next step
Typically these follow ups come in the form of proposals, emails, information gathering, meetings, etc

Time Management & Organization
General Follow Ups
These are people you need to follow up with for no real reason, just to keep the relationship strong
Typically these are ancillary referral partners, “prospects” who have a very small percentage chance of converting to clients, etc
THESE FOLLOW UPS SHOULD ONLY BE HANDLED AFTER PROSPECTING AND SALES FOLLOW UPS ARE ALL COMPLETED

Time Management & Organization
Organizing Your Follow Ups
Follow ups in each category should be separated into three “silos”
A: Hot. These leads want to take an initial meeting; the prospect is actively looking to make a buying decision in the near future
B: Warm. These leads are interested in initial meetings but need a little more information; the prospect wants to do something but doesn’t really have a timeline
C: Cold. These leads didn’t give you any indication they were interested but said to “send me information”; the prospect may want to do something but doesn’t have a timeline or a budget

Time Management & Organization
Organizing Your Follow Ups
Handle your follow ups in the following order
Prospecting
A
B
Sales
A
B
General Follow Ups, Prospecting C & Sales C

Selling Techniques

Objections

Selling Techniques
Objections
These are objections during the sales process (completely different from handling objections during the prospecting pitch)
Objections are a requirement to a successful sales day. In fact, without them, you’re likely not engaging your prospects and customers.
Objections help you further qualify a sales opportunity and better understand the needs and current environment of your prospects

Selling Techniques
Objections
When companies and individuals have an objection to closing a deal, it’s one or some combination of eight true objections
Understanding the true objections will help you get one step closer to where you need to be – whether it’s to the next stage with your current prospect or investing your time elsewhere.

Selling Techniques
Objections
The Eight Objections
Lack of perceived value in the product or service
Lack of perceived urgency in purchasing the offering
Perception of inferiority to a competitor or in-house offering
Internal political issue between parties/ departments
Lack of funds to purchase the offering
Personal issue with the decision maker(s)
Initiative with an external party
Perception that “it’s safer to do nothing”

Open Discussion