AsSeenIn

The Greatest Sales Person, Can’t Save The iWatch (Apple Watch)

 

The iWatch talk is getting hot. Watches as a device are being pumped up as the next big thing, but if you ask me, I’m saying no. (so is my boy Fred Wilson)

Here’s the deal.

I had a badass professor at The University of Chicago, his name was James Schrager.  Some of you might even know of him.  The guy’s a classic. One of the things he taught us was businesses fall into 4 categories (I think it was 4 :) )  One of the categories is the image category.  Image businesses are businesses that rely on image as the core reason for their successes. Clothes, are an image business. Cars, are an image business. Watches, are an image business.  You get it? Products in the “image” business rely on how they make people look, their image as the driver to sales. Watches are the quintessential image product.

Watches are all about image.  Most people wear a watch as “jewelry” first and to tell time second. Time isn’t even the first reason people wear a watch. The main reason watches were created, is now the second reason people wear them. Therefore, adding MORE utility isn’t going to sell more watches.

Do I think the iWatch and all the other wearable devices is gonna bomb? NO!  But, are they the next computing killer product? NOPE!

iWatches and Android wearables are not going to be the hit iPod’s and iPhones and iPads were. They’re just not. They’re getting into the wrong space. Watches are jewelry in spite of their utility and that’s not gonna change because we allow them to text, video, or surf the net.

iWatches will be the tool of the nerd, just like the Casio watch of the 70′s and 80′s. The geeks and nerds who place little value on image will gobble up the iWatch, the rest of us will stick to Fossil, Movado, Rolex, Tag Heuer, Bulova, Omega, and Timex.

As I’ve said before. The days of sales being able to move a shitty product are over. The product comes first. No matter how bad Apple, Samsung and all the other manufacturers want watches to be the next thing, they won’t and dumping money into sales and marketing aint’ gonna help.

Product first, selling second, it’s just the way of the world today.  Deal with it.

The 5 Roles Of Sales People Crushing Quota

I had to share this with you guys. It’s a great Infographic.

I’ve long argued that information is the key to successful sales people and that renaissance people are the best sales people, while teaching organizations are the best sales organizations. This infographic by Salesforce and Kapost on content represents exactly what I’ve been saying. It’s great.

I’m even with them on the transformation argument. Shitty sales people tend to be less informed, less savvy and more self absorbed. In many cases, information or “content” can fix that.

Our job, as sales people, should we truly accept it, is to become a;

  • Teacher
  • Problem Solver
  • Thought Leader
  • Coach
  • and a Partner

When we do, selling becomes as smooth as butter.

I love the TEACH section. It doesn’t get any better when you can provoke or push your prospects to think differently.

 

 

Content is absolutely the way to make to become a badass sales person. Get on the content path, it’s a game changer.

Props to Kapost and Salesforce.com

The Word! Episode 1: What Sales People Are Missing

We did our first episode of The Word on Thursday. It was sick. We had so much fun. Our guest was Dan Waldschmidt author of Edgy Conversations.  The topic was what sales people are missing. We broke down the key traits we think sales people need more of and why it affects sales. We talked about being great, and why too many people don’t aspire to greatness.  Dan opened up about some of the personal experiences behind his motivation to write the book and more. It was truly one of the best 42 minutes I’ve spent, not on skis, in a while.

Our goal with The Word is to bring you mad sales wisdom in a fun, hip, cool, exciting, challenging, entertaining way.  You know how we do shit around here. We’re a bit irreverent, and so is The Word!

The key things sales people are missing include;

  1. creativity
  2. grit and drive
  3. analysis and assessment skills
  4. business acumen
  5. empathy

Also, you don’t want to miss the discussion on the opening of Dan’s book where he talks about his close call with death by his own hand and how it changed his life.

The Word is tight and I’m excited about the possibilities. Our next episode will be March 12th and we’ll be talking about how to do a badass demo. Our guest will be Mark Roberge, Chief Sales Officer of Hubspot.

So check it out and let me know what you think.

Top 3 Mistakes in Selling to Inbound Leads

Today I’m droppin’ a guest post from my boy and Chief Sales Office over at Hubspot, Mark Roberge. Mark has written a new book and it drops today; The Sales Acceleration Formula. Mark has done some killer stuff over at Hubspot, growing them from 0-100M in revenue. I say that qualifies him on teaching the rest of us how to grow revenue.

But, if 0 – 100M isn’t enough, Anthony Robbins reviewed his book and said this;

A new breed of disciplined, data-driven leaders are re-shaping the field of sales. The Sales Acceleration Formula explains why.

I love this post ’cause we make too many assumptions with inbound leads. Inbound leads are new and as Mark says, too many of us are screwing up in the transitions.

This post does a great job of breakin’ it down.

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Top 3 Mistakes in Selling to Inbound Leads

Every day, more and more sales calls are being made to inbound leads rather than cold prospects.  It is a great trend.  These inbound leads are further along in their buying journey.  They close faster and at a higher rate.

Unfortunately, traditionally trained salespeople often struggle with the transition from calling a cold prospect to an inbound lead.  Here are 3 common mistakes salespeople make when calling inbound leads.

Mistake #1: Assuming a non-decision maker is a bad lead

Outbound salespeople are trained to “call high”.  Why deal with someone that does not have the authority to buy?

Unfortunately, the contact on an inbound lead is not always the C-level executive holding the purse strings.  Instead, the contact may be a front-line worker or even an intern.  Traditionally trained salespeople throw up their arms stating, “these leads suck”.

Actually, the leads do not suck.  I admit, the contact on the lead is not a buyer.  The contact has no budget authority.  However, who do you think told the contact to do the research, conduct the Google search, and download the eBook?  It was likely an executive driving the decision… and the budget.

When deciphering the quality of the lead, focus less on the contact’s role and more on the company’s fit with your product.  The fact that someone started the research process indicates a trigger at the company aligned with your product’s value proposition.  A potentially easy deal is on the line.  Don’t let it pass you by.

Mistake #2: Leading with the vanilla elevator pitch

In a cold calling environment, salespeople are throwing darts in the dark.  They have no idea whether the value proposition they are pitching will resonate with the companies they are calling.  With fingers crossed, cold callers deliver a well crafter elevator pitch and hope it resonates with the recipient on the other end of the line before they hang up.

This approach of leading with the vanilla elevator pitch is the kiss of death in an inbound environment.  Your company enticed the prospect with a thought provoking tweet, engaged them with a well written blog article, and convinced them to exchange their contact information for a valuable eBook, written about a problem they have been researching.  Then, you, the salesperson, ignore these breadcrumbs of contextual interest and simply deliver the vanilla elevator pitch?

Inbound leads have much more context associated with them than a cold prospect.  These leads have read blog articles, viewed webpages, downloaded specific eBooks, and even conducted precise Google searches to find your company.  Leverage this context when you first engage an inbound prospect.

“John, I noticed you downloaded our eBook on XYZ.  What specific questions did you have?”

Break the ice with that opener.  Lead with their interests, not the vanilla elevator pitch.

Mistake #3: ABC: Always be closing

Traditional salespeople are trained to “Always Be Closing”.  Connect.  Pitch.  Close hard.

However, today’s buyer is far more empowered than a decade ago.  All the information they need to evaluate a purchase is at their fingertips, whenever they want it.  Modern buyers are not going to put up with these archaic tactics.

Instead of ABC, salespeople need to ABH – “Always Be Helping”.  Once you break the ice with the prospect’s interests, answer their questions.  Do not withhold information. Answer as many questions as the prospect wants to ask. With every question, you are building trust.

Eventually, you can leverage the trust to evaluate whether you can help the prospect’s organization and whether you should both invest more time together.  Ask them questions like:

  • Who asked you to download the eBook?
  • What does your boss expect of you this quarter?
  • What were the CEO’s priorities at the last company meeting?

Now you are in a position to engage the decision maker with deep context that will surely impress.

Inbound leads are gold.  However, traditional sales methods may turn off the buyer… and the sale.  Align your sales tactics with the context of an inbound lead to create a more efficient process for you and the buyer.

2013 Roberge 2

 

Go check out Mark Roberge’s new book that launched this week, “The Sales Acceleration Formula: Using Data, Technology, and Inbound Selling to Go from $0 to $100M”, about his experience in building the HubSpot sales team. It’ll make you happy and all giggly inside. 

Sales Surge Summit

I did a 30 minute interview on sales people mistakes the other day as part of the Sales Surge Summit.

You can see the entire thing here.

Screen Shot 2015-02-17 at 9.34.02 PM

I tackle the importance of empathy in selling, how to prioritize and a few other fun elements of selling.

While you’re there be sure to check out the other speakers, they put together a good group of sales cats for this summit (Anthony Ianarino, Dan Waldschmidt, Matt Heinz, Ken Thoreson and more.) It will be well worth your time.

 

To Build or Kill, That Is The Question

What happens when one of your sales people loses a big deal? Do you kick the shit out of them by calling out everything they did wrong? Do you play Monday morning quarterback and point out all the mistakes that were made and how losing the deal could ruin the quarter or even the year? Do you make it readily apparent how they screwed up?

If you do, don’t.

Here’s the deal. As a sales leader, you have the power to build or kill. How you engage with your sales reps after a big loss goes a long way in their development as a sales person, their self-confidence and their role in your sales organization.

As a sales leader your job is to build up your people. It’s to empower them with the confidence and skills to be badass sales people and the loss of a big deal can be one of the best times to do this.

When a rep loses a big deal, the first the thing the sales leader needs to understand is the salesperson is absolutely bummed out. They are devastated. The sales person is acutely aware of the impact the loss has on them, their quota, their commission check, and their bank account. You piling on and letting them know how bad it is, isn’t helping. It brings no value. You’re just pounding them into the ground for no good reason. When we beat up salespeople for losing a bid deal, it’s more about us and our frustration. It’s about our ego. It’s about our bank account. It’s about our agenda and that’s not fair.

The goal isn’t to kill the rep but to but to build the rep. When a rep loses a big deal, take the time to sit down and do a loss analysis with them. Schedule, an hour of one-on-one time, to walk through what happened and what could have done differently. The key is to come prepared. Have the CRM notes in front of you. Do your homework too. It’s not all about the rep.

A good lost deal analysis that builds rather than kills looks like this;

  1. Schedule a dedicated one-on-one meeting for an hour
  2. Start by setting the tone that the rep isn’t in trouble, but that its is a coaching and growth opportunity for the both of you
  3. Kick the meeting off by asking the rep to describe the sale; why were they buying (the problem)? What was the process? What was the customers pain (the motivation)? Who was involved? What was the timeline? etc. The goal here is to set the context of the sale.
  4. Ask the rep what his or her sales strategy was and how they came up with it. What were their objectives and why that strategy?
  5. Ask the rep where they felt things went wrong.
  6. Ask what do they think they missed.
  7. Ask the rep what they would do different looking back. With hindsight what would they do different?
  8. Once you’ve spent 30 minutes or so evaluating what happened and the decisions that were made, start asking questions that help the rep see other possibilities. Ex: You said the customer said XYZ, do you think that could have been an opportunity to . . . ? When the competition lowered the price by 20%, why didn’t you . . . ?
  9. Work with their answers to broaden their perspective and give them solid takeaways for next time. Anchor them in the missteps AS WELL AS the correct steps. Don’t focus only on the mistakes, emphasize the things they did well. You want them to keep doing the things that work and stop doing the things that didn’t.

The key to leveraging a big loss for the positive is to keep it light, collaborative and supportive. It shouldn’t feel like an ass whooping or a scolding. If done correctly, sales reps should look forward to them as a way to get better. Liken it to film day in football. Player’s love film day. Yeah, their teammates give em shit when they mess up, but what’s most important to them is they get to see where they made their mistakes and what they need to do to correct them. They get to evaluate themselves and watch their play. Film day is invaluable.

Don’t kill your sales reps for losing a big deal. Use it as a way to build them up. Remember, the better they get, the better you get.

The Prospect Said Yes, Why It Doesn’t Mean Sh*t

I’m sitting in a pipeline meeting and I ask the rep if the deal is going to close. He says, “Yes!”

Great I say, how do you know?  The rep responds with; “The prospect told me. She said they’re gonna go with us.”

Do you know how many times I’ve hear a rep say the prospect said they are in and the deal never closes? Lemme give you a hint, more times than when it does close. Just ’cause a prospect says yes, it doesn’t mean the deal is gonna close.

I have a client that shared this killer saying with me.

The longest distance in sales is the distance between the lips and the pen.

How true is this? Customers and prospects say all the time they want your product or service, but it doesn’t mean they’re gonna buy.

Getting the client to say they want your product or service is only half the battle. Getting them to actually sign the dotted line and buy it, that’s the other half.

As a sales person it’s our job to understand what it’s going to take to move from yes, I want it (the lips) to, I’m buying it (the pen), here’s my signature and money.  There are a lot of steps or hurdles in getting from yes to closing the deal.

To close a deal you need a yes, AND:

  1. all the other stakeholders to agree
  2. budget approval
  3. executive approval
  4. timeline approval, (I want it, but not today)
  5. price approval
  6. T&C’s approved
  7. detractors minimized
  8. competition ousted
  9. and more

There is a long way from yes to close and if you’re not paying attention to that journey, then you’re in for a difficult trip.

How do you measure the trip?

How do you measure the trip?  Just ask!

The minute you’re client says, “Yes, we’re in. We want it.” Simply ask one little question. What do we need to do to close this deal and wrap this up? Then just sit and listen. This question is excellent at helping you measure the trip. You’ll hear everything from;

  • I just need to check on budget
  • I just need to get my bosses approval
  • I just need to run it by IT
  • I just need to run it by HR
  • Can you send the contract so I can get it to legal
  • Can you send the final pricing for approval
  • Nothing, we just need to put in through procurement
  • Nothing, but I’d like to wait until the second quarter, if that’s OK.
  • etc.

Once they’ve answered the question, probe further and ask what’s going to take to get your bosses approval? What it going to take to IT’s support? What’s it going to take to get . . ? That’s were your work is.

Notice everyone of these answers is contingent on something or someone else. You’ve got the yes, but you don’t have the contract. The deal ISN’T closed. There is more work to do. If you want to get to close, you have to be ready for the second half of the sale. To do this is to be extremely clear on what the next steps are, what the landscape looks like and exactly what the buyer is going to need in order to execute on their “yes.”

Too often salespeople think their job is to get the customer to say yes and that couldn’t be anymore inaccurate. The job of salespeople is to close the deal and closing the deal goes far beyond getting a yes.

Thinking the deal is done because the customer or prospect says “yes” is a rookie mistake.  Know better, be prepared for the second part of the sale, your numbers and your close rate depend on it.

Just ’cause the prospect said yes, it doesn’t mean shit.

 

Execution Quotes: Quota and Goals (A Sales Guy Book Club)

The biggest gap in sales is quota and quota assignment. Quota is almost  always dolled out willy nilly, with little understanding of the market or what the executionorganization is capable of doing. Usually, the organization has picked some arbitrary revenue number and pushes it down to the sales team with an edict that it must be made. We’ve all seen how this works out and what it does for moral.

I love how Larry and Ram address this in the book.

The gap between promises and results is widespread and clear. The gap nobody knows is the gap between what a company’s leaders want to achieve and the ability of their organization to achieve it.

It’s critical organizations create goals that are achievable and that everyone knows what it’s going to take to accomplish. When this doesn’t happen, goals are missed and working/selling harder doesn’t solve the problem.

In an execution company’s operating review, the leader will want to know if the goal is realistic. “Fine,” she’ll ask the manager, “but where will the increase come from? What products will generate the growth? Who will buy them, and what pitch are we going to develop for those customers? What will our competitors reaction be? What will our milestones be?” If a milestone hasn’t been reached at the end of the first quarter, it’s a yellow light: something’s not going as planned and something will need to be changed.

Imagine how much more accurate quota setting would be if leadership up and down challenged numbers in this fashion every year?

I recall one year, while sitting at the sales-kickoff, the CEO and CSO stood in front of 5 thousand sales people and told them that we were going to grow 20% this year and that it was going to be a big year. I remember being shocked and looking over at my boss and saying are they high? The economy was in the tank, it was October of 2007. We hadn’t launched a new product. We weren’t penetrating any new markets. We hadn’t had that kind of growth in more than a decade. There was no evidence at all, internal or external that suggested we’d be able to generate that kind of growth. Yet, that’s what they put on the sales team. As you can imagine, not only did we not hit the numbers. They were so drastically off in 2008, the had to cut everyones quota by as much as 50% halfway through the year in order  to give people a fighting chance. It was a catastrophe. It didn’t need to be. The writing was on the wall, if they knew how to execute.

Being realistic about your goals and how you get to them is key being able to execute and get stuff done.

Conceiving a grand idea or broad picture is usually intuitive. Shaping the broad picture into a set of executable actions is analytical, and it’s a huge intellectual, emotional and creative challenge.

Everyone can come with an idea or a goal. Know how to achieve it, now that’s impressive.

 

Execution (A Sales Guy Book Club)

One of my favorite business/sales books is Larry Bossidy and Ram Charan’s Execution. It’s the best book written on getting shit done. The greatest challenge I’ve ever seen with achieving success isn’t the lack of ideas, but rather understanding how to execute on the idea. Getting shit done is all about the “how.”

“How” are you going to get to the CEO? “How” are you going to reach quota? “How” are you going to get 6 new logos? “HOW” are you going to displace the competition? “How” are you going to renew the account? “How” are you going to . . ? The answer to these questions is the true difference between the average and the great, the successful and the failures. If you wanna be a badass, then learn to execute.

I’m reading Execution again (for the 4th or 5th time) with my team. Every time I read it, I’m reminded of how good the book is.

The value in this book to sales leaders and sales people is its ability in teaching how to deliver. Sales is a complex profession. Sales leadership is even more complex. Our success is deeply rooted in our ability to execute against difficult, shifting, emotional environments. Therefore, being damn good at executing is the key to winning and this book is good at teaching you how to execute.

Over the next few weeks, I thought I’d share our book club with the community.  I will be sharing good quotes from the book to help that deliver killer insight in how to get shit done and what it takes to execute.

I hope you enjoy it, and feel free to share your thoughts.

To kick it off, I’m thinking the quote would be a definition of execution.

Execution –

Execution is a systematic process of rigorously discussing hows an whats, question, tenaciously following through and ensuring accountability. It includes making assumptions about the business environment, assessing the organization’s capabilities, linking strategy to operations and the people who are going to implement the strategy, synchronizing those people an their various disciplines, and linking rewards to outcomes. It also includes mechanisms for changing assumptions as the environment changes and upgrading the company’s capabilities to meet the challenges of an ambitious strategy.

In it’s most fundamental sense, execution is a systematic way or exposing reality and acting on it.

If you’re goal is to be a true badass who get’s shit down and knows how to deliver, their is not better skill to hone than ability to execute.

This should be fun.

Why Most People Don’t Operate From This Mentality Is Beyond Me

Why?

Why don’t most people get this?

Life is too short. You get one shot. So, it baffles me that most people don’t operate from this mentality.

BeABadass

Are you a badass?

Why aren’t you a badass? Being a badass means attacking everything with vigor, tenacity, audacity and passion. It means not settling. It means being committed to being the best you can be and never accepting mediocrity in anything you do.

Why?

Why don’t we all aspire to be badasses?

Anyone?

And if you tell me everyone is a badass, I’m gonna throw up in my mouth. :)  Just sayin’