Jeff Garrison

Speaking of Elevator Speeches

Perhaps the most beneficial thing about putting together a great "elevator" statement is that if done well, it will force you to really discover your relevance to your target audience.

During a Sales Habitudes workshop yesterday on personal business branding, a financial adviser shared his thoughts on the subject.  He stated that because there are many "financial advisers" around, when he is networking and states that he is a financial adviser ...

"It is like farting on an elevator."

No one wants to engage in conversation or even make eye contact.  They just want off the elevator.

In this case, we talked about two elements of a brand that has F.O.R.M., focus and relevancy. 

As it turns out, this financial adviser has a background in a small, family owned business.  He prefers to work with small business owners because he has a unique understanding regarding their needs

He also knows from his experience that small business owners by nature like a lot of control over their assets and,that non-liquidity is the same as being broke when growth opportunities come along or when business is slow.

Now, he works with small business owners (focus) to invest and grow their wealth while maintaining control and liquidity (relevance).

Of course, most people on an elevator won't care, but his target audience will be curious.  If you are a small business owner and want to know who this focused and relevant financial adviser is, contact me.

Where do you need to focus?  How can you be more relevant?

Photo on flickr by Susan NYC

Follow Up to Familiarity to Trust to Sales

Six months ago I got a call from a rookie insurance agent who had gotten my name off of Linked In.  After introducing himself and finding out that I have had a business relationship with my financial adviser for over a decade, he could not wait to get off the phone.  I was the one trying to ask questions which he tried to brush off probably so that he could go on to the next name on his list.

I have not received any follow up calls or emails from this person since that one phone call and now, I could not tell you his name.

Over the weekend the door bell rang.  At the door was a new investment representative from a well known company out knocking on doors.  We spoke for a few minutes, but I am happy with my investment adviser right now  None the less, I asked her for her business card (because she might be interested in Sales Habitudes training at some point).

She did not have a business card, so she left me with a brochure that does not have her name on it.  I gave her my business card and asked her to email me her contact information.  I told her that if she joined the West Des Moines Chamber, she would see me there.

Two business days have passed and she has not sent me her contact information.

Here is the problem with both of these scenarios.  At the time that these two "sales professionals" contacted me, I was not ready to buy.  Neither are most prospects when we call on them the first time.  However, an opportunity has been wasted.

Both should have a follow up plan to regularly "touch" me in order to create familiarity with who they are and their personal business brand.  Over time they should seek to inform me of their expertise and relevancy such that I will come to trust in them

At some point, once I know who they are and have some trust in them, I may be ready to talk to them seriously about doing business.  Additionally, opportunities to make introductions and to help their business may come along.

Think about this.  In large sales (those exceeding $30,000), about half of the sales made are made between twelve and twenty-four months after initial contact.  Every sales person that is not committed to nurturing their prospects for at least a year is losing a ton of money.

Do you know who is making the money?  The sales person that calls your prospect twelve months after you did for the first time and right after you quit trying.

Do you have a plan for following up with those people you meet but who are not ready to buy?

Since writing this post, I received a follow-up card from the person that came to my door.  No card or contact information was included, but she followed up.  We'll see what happens next.

Laid Back Networking V (Update)

The fifth quarterly BYOB Laid Back Networking Event organized by Sales Habitudes LLC and the gang at McLellan Marketing Group has been rescheduled (due to nasty weather) for February 24th.  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:
Wednesday, February 24th from 5:00 to 7:00 PM.
McLellan Marketing Group's office (1430 Locust Street, DSM)
Parking along side the building and street parking

Laid Back Networking V

The fifth quarterly BYOB Laid Back Networking Event organized by Sales Habitudes LLC and the gang at McLellan Marketing Group is next week 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, February 9th from 5:00 to 7:00 PM.
McLellan Marketing Group's office (1430 Locust Street, DSM)
Parking along side the building and street parking

Know, Like, & Trust (Part 1)

Zane Safrit and I have corresponded about the simple truth of Know, Like, & Trust and decided to each take a whack at it with our keyboards.  Part 1 will address getting to Know and Like someone and Zane will write about Trust in Part 2.

Generally, we all desire to be known and liked.  As business people wanting to influence the market, we need to appreciate the rule that people prefer to say yes to individuals they know and like.

Becoming known is fairly easy these days with the number of networking opportunities and the number of social tools such as LinkedIn, Twitter, facebook, YouTube, and podcasts.   So, how do we go from being known to being liked? 

Let's look at what research tells us about liking and how we ethically employ this information to establish better relationships.

Physical attractiveness seems to create a halo effect that causes us to attribute other positive traits to people such as talent, kindness, and intelligence.  Fortunately since most of us are average, there are many other factors.  This is good to know so that we don't allow ourselves to be unduly influenced by someone because of their extraordinary good looks.

We like people who are Similar to us.  This could be in the area of opinions, personality traits, dress, background or lifestyle.  So open up a little bit.  Don't compartmentalize your "business self" and your "non-business self."  Let people get to know you. 

A lot of people resist this idea, especially online.  Who has not heard someone say, "I don't get Twitter (or facebook).  I don't want to know what someone had for breakfast."  Neither do I.  But if they are eating at my favorite restaurant, I would find that interesting.  Your online profiles and the conversations you participate in are perhaps the best way to show who you are and to develop relationships based upon similarities.  Furthermore, when you run into people "in real life," there is more to talk about.

Praise and Compliments, when not crudely transparent, enhance liking.  Learn to see people in such a way that you are able discover their unique quality and virtue.  Then look for ways to tactfully acknowledge it.

One of the most powerful ways to compliment someone's intelligence or perspective is to listen to them speak and to ask questions to clarify and enhance understanding.  Another is to introduce them to others in your network and share their successes.  Online you can comment on their blogs, tweets, and facebook page.

Familiarity through repeated contact enhances liking.  Simply put, get engaged and stay in front of people.  Go where your prospects and customers are.  If they are networking at the local Chamber of Commerce meetings, show up and talk with them.  If they Tweet, you Tweet.  Send a regular newsletter and include your picture.

Mutual and successful cooperation enhances liking.  Volunteering with the Chamber of Commerce, being a member of a Rotary Club, or being on a non-profit board are all places where you can find opportunities for mutual and successful cooperation.  From a sales or customer services approach, we should frame the issues in a way to promote the mutual cooperation to solve a client's need.

Finally, Association with positive things enhances liking.  This could be an event such as a Halloween party a friend of mine has every year for his friends, neighbors, and clients or the Central Iowa Bloggers meet up the first Friday of every month or something simple like lunch.  Breaking bread together has an unexpectedly powerful effect on liking.

As you can see, one can employ a strategy and tactics to enhance liking in their target market and it can be done with integrity and by being your real self.

For an in-depth treatment of these ideas, pick up Robert Cialdini's book Influence: Science and Practice.

Finally, share with us your thoughts and ideas regarding liking.

Photo on flickr by Liverpool Chamber of Commerce

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

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?

Social Media Experts and Sales

Check out Mike Sansone's video post.

Sales: How Long Have You Been in Business?

If you have not been around long, how do you answer the question, "How long have you been in business?" or "How long have you been in sales with ...?"

How have you handled this question in the past?  What advice do you have?

Another Laid Back Networking Event

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:
Thursday, August 27th from 5:00 to 7:00 PM.
McLellan Marketing Group's office (1430 Locust Street, DSM)
Parking along side the building and street parking