Jeff Garrison

Laid Back Networking

The next BYOB Laid Back Networking Event organized by JCG Consulting and the gang at McLellan Marketing Group is almost here and everyone is invited.  If you're doing business in Central Iowa - you're going to want to be there.

We're talking casual conversation, some great networking, and the chance to connect with people you haven't seen in awhile.  No agenda, no speaker - just some chatter and coolers to keep your beers cold.

We hope to see you there! 

Details:
Tuesday, November 10th from 5:00 to 7:00 PM.
McLellan Marketing Group's office (1430 Locust Street, DSM)
Parking along side the building and street parking

Follow Up Failure

There are many opportunities for follow up failure.  For example ...

• Do you have business cards from people you recently met sitting in a pile waiting for you to take some action? 
• Do you have a list of people that you considered good prospects at one time but after the first couple of follow ups, you moved on? 
• Do you have customers who bought from you once, but you have not touched base with in some time?

Me too. 

But I have had prospects that for whatever reason I maintained good follow up practices.  Many of them have been converted to clients. So what have I learned?

Prospects and customers buy when they are ready to buy, not when we are ready to sell!

In fact, many prospects need to be followed up with anywhere from seven to twelve times to be converted to customers.  So, this begs the question ...

How many times do you follow up with a prospect (or a past customer) before giving up?

The average is probably between two and three times if we were honest.

Why?

We focus on making sales now!  We have to meet monthly or quarterly quotas and nurturing a sale that may or may not happen several months from now is irrelevant if we can't produce now.  Additionally, even if we wanted to maintain disciplined follow up and lead nurturing practices, there is just too much to stay on top of.

I get it.  But what if you could increase your sales by 25%, 50%, or 100% over the next twelve months?  Would you make changes?

This is what inbound marketing and sales 2.0 are all about and these things should be implemented into every business.  If you don't have the resources to hire a sales coach or consultant who has expertise in these things, start small.

For example, schedule an hour per week just to make follow-up calls or send e-mails to past prospects.  Find ways to provide information to them over time so that when they are ready to buy, they will buy from you. 

To learn more about fixing your follow up, click on the link to receive the free ebook called The Edge of Success.

Encourage others to follow up.  Share your follow up stories in the comments section below.

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Present Sales Proposals in Person

Never present something in writing that could be done in person!

The difference is results over time is enormous when comparing closing ratios of those proposals delivered in person compared to those delivered in writing.  Here are some reasons why.

In person presentations eliminate guessing. 

When it comes time to start getting specific about providing solutions to a client, at least one discussion and perhaps many have taken place about the clients needs.  However, there may still be hidden assumptions in your ideas about your prospects needs or resources.  It is best to discuss them in person rather than have the prospect recognize these issues in a written proposal and reject your ideas in written form.

In person presentations allow the best solution to be discovered. 

Once you have done your best thinking, you need a chance to discuss your ideas with your prospect.  You need to have them challenge your ideas and combine them with their best thinking.  Getting their input does not diminish your value or your ideas, it enhances them.

In person presentations leverage human factors.

Interaction creates rapport.  Rapport leads to liking.  Liking precedes trust.  Trust is required to reach an agreement and close the sale.  Paper does not do these things.

It is very important to note that trust must go both ways, thus it is as important for the business owner and/or the sales person to trust the prospect as it is for the prospect to trust them.  If closing a deal seems to easy, get prepared for problems.

Remember, paper does not close deals.  People do.

Photo on flickr by chalks.corriette

What Does a Profitable Customer Look Like?

Often we are asked to describe what a "good prospect" looks like.  Most often the answer begins "anybody who ..."

Starting with "anybody who" is a pretty good indicator that the definition of a "good prospect" is too broad.

To get a better handle on this question, ask yourself what the elements of a "good client" are compared to just a "client?" A good client ...

• Appreciates our unique expertise, experience, or other value
• Values our time
• Is fun to work with
• Does not squawk about cost
• Pays on time
• Costs less to acquire
• Is easier to retain
• Is a fan who recommends our products/services to others

Next, ask yourself if the clients you have that meet the above criteria have distinguishable characteristics from those that don't meet the above criteria.  Examples might be ...

• Large company versus small
• Privately owned versus public
• Type of product or service purchased
• Geographic location
• Industry or niche of client
• Work with real stake holder versus purchasing agent
• Profit per deal
• Deal flow (# of deals per year)

Often times this type of exercise causes company ownership and sales people to realize that certain clients, although profitable, have a hidden cost.  That cost is the opportunity cost of acquiring a good, more profitable client rather than just a client.

This exercise obviously changes the way we describe a "good client."  It also may change the way we describe our products and services as well as our marketing strategy and tactics.

What surprises have you discovered about "good clients" versus just "clients?"  How has it changed how you prospect for new business?