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Shocking Trends About Cash Discounting
Shocking trends that bode well for the future of cash discounting. 3 hurdles successfully crossed have been a shock! What...
A super-simple concept for quick success. Grab this ultra-simple concept and double your prospecting success in 30 days! Don’t trip over the simplicity. Let me help you see the logic… This episode may well have the potential of being one of the most profitable ones I’ve ever shared! The simple concept I’m presenting can have […]
A super-simple concept for quick success.
Grab this ultra-simple concept and double your prospecting success in 30 days! Don’t trip over the simplicity. Let me help you see the logic…
This episode may well have the potential of being one of the most profitable ones I’ve ever shared! The simple concept I’m presenting can have a huge impact on individuals and sales teams. Very few sales people and almost no managers understand this concept.
Let me help you see the logic in this ultra-simple concept. My practical and detailed explanation will show you the actions you need to take to double your prospecting success in 30 days.
The following simple formula is universally accepted by all sales professionals:
CONTACTS x CLOSING PERCENTAGE = SALES
Thus, if the number of contacts is doubled while keeping the closing percentage the same, the number of sales will double.
Also, if the closing percentage is doubled while keeping the number of contacts the same, the number of sales will double.
In spite of this simple math, there are misconceptions which prevent the successful solving of the equation. The misconceptions concern what happens when the formula is changed.
First Misconception: “If I dramatically increase the number of contacts, I will decrease my closing percentage.”
Therefore, some think increasing the number of contacts will give the same number of sales but just add more work to get those sales. Although managers SAY they don’t think that way, they are often unwilling to sacrifice the quality of contacts to get more.
Second Misconception: “If I dramatically increase my closing percentage, that means I’m taking more time with people and, thus, getting fewer contacts.”
Both of those ARE misconceptions! The concept of doubling prospecting success in 30 days is extremely simple. However, implementing and/or allowing a sales team to implement the concept is a challenge. There is some fear of the unknown.
Are you ready to hear this ultra-simple concept?
LOWER YOUR EXPECTATIONS TO THE POINT WHERE YOU’RE WILLING TO TAKE TWICE THE ACTION.
Consider this example: A new rep is hired to sell Clover. The rep will walk into five or ten businesses, intending to make sales. We know the new rep will get shot down every time.
Soon this newbie thinks, “This is tough; how am I going to sell Clover? I better take a break to listen to a motivational tape before trying the next business.”
Soon this newbie thinks, “This is tough; how am I going to sell Clover? I better take a break to listen to a motivational tape before trying the next business.”
That new rep quickly loses the desire and motivation to take action, because the expectations are too high.
Some of you may say, “I’m going into the field today and collecting five statements.” Or some may say, “I’m going to close deals today, one-call close!” Those goals ARE possible. As sales experience improves, the bar could be raised later.
But I’ve found one truth over and over again: Raising the number of QUALIFIED contacts (meaning the number of small business owners with whom you have good conversations), won’t change your closing rate. This is true whether the agent’s goal is to make a sale, complete a survey, or simply collect an email address. But for good sales professionals, talking to MANY business owners means they win.
The new agent in our example needs to lower the bar of expectation, increasing the motivation to take action.
Perhaps the team leader could say, “I’ve formatted a beautiful HTML email with a demo video embedded in it which describes the Clover system. Your goal for today is to get as many email addresses as possible and send that free email.”
That new agent will generate three or four times more action to reach such a simple goal. The opening pitch would be simple to create. Even eight hours of work wouldn’t be difficult with that assignment.
I know some of my readers are wondering how beneficial that kind of contact will be. I DO understand that logic. However, remember these two keys when deciding your logic.
#1 KEY. Lowering the bar gets the conversation going.
That puts the sales rep in a better place to work toward the initial goal of sales. Getting an email address gives positive momentum to the rep. That’s very good!
The sales person may then decide to proceed even further in the conversation by saying, “I’m going to send that email in about ten minutes. I know you’ll have questions when you read the information. Could we set a time for me to give a demo after you’ve read the email?”
By lowering the bar, the rep will quickly have a full pipeline. Talking to many more business owners will cause the numbers game to play out.
#2 KEY. The numbers game.
New sales people think they close sales because they are the best sales person ever! However, those of us who are veterans to the industry understand that finding people at the right time is the reason for closing sales.
In talking to more merchants, sales reps will find those prospects who are looking for a change or a better solution. The more prospects to whom you talk, the more opportunities you’ll have to find merchants ready to buy.
There you have the super-simple concept which will double your prospecting success in 30 days!
Lower those expectations; make yourself or your team willing to take action; then move forward. Watch your prospecting pipeline go through the roof.
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