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SAVVY
SELLING - SEPTEMBER
9, 2005
By Michelle Nichols
Why Connections
Trump Contacts
Cold calling is one of the hardest
and least-fruitful tasks facing
any seller. You're better off
cultivating and leveraging a
real network
The 2000 movie Boiler Room has
a scene where Chris, a sales
manager in a brokerage firm,
explains the business to Seth,
a trainee. "Sales is a
contact sport," Chris tells
him -- the more contacts Seth
makes, the more money he'll
earn. He claims that top producers
make 700 contacts a day. Seven
hundred!
I'm so glad selling has evolved
since those Neanderthal times
-- or so I thought until last
week. Just before I spoke to
an audience of small-business
owners, I met two young men
who sold telecom services to
small businesses. They bragged
that their sales training was
fantastic.
I inquired if they attended
Chamber of Commerce functions
to meet business owners who
could buy from them, or went
to high-tech meetings to rub
elbows with techies who could
refer them. They looked at me
like I was nuts. Oh no, they
corrected me, they were told
their path to riches was to
knock on 60 doors a day and
talk to "DMs" -- decision
makers. Their naivete was painful.
NOT COMMUNICATING. At that
same event, I met an accountant-turned-headhunter
who works for a large, prestigious
firm. He had only been on the
job a short time but already
was having second thoughts.
He works in a bullpen with 60
other salespeople, and their
job is to call and speak with
25 managers a day who might
use their services.
His company's standard sales
pitch is, "Hello, this
is John Smith with the Recruiting
Division of XYZ firm and I've
got a candidate who has 15 years
of experience and..." blah,
blah, blah. They taught him
to close with, "Does that
sound like a fit?"
So far, after a few weeks of
making 125 calls per day to
get those 25 managers on the
line, his results are terrible.
He hasn't received one single
nibble. He has heard "We're
not looking right now,"
"That's not our type,"
and "What did you say?"
But not one "Sounds great
-- can she start on Monday?"
What's the problem? To borrow
from political strategist James
Carville, it's the connection,
stupid. Or rather, the lack
of connection.
EASIER WAY. A common mistake
is shared by the fictional Hollywood
sales manager, the telecom salesmen,
and the headhunter. They equated
"contacts" with "connections."
While it's true that the more
contacts you make, the more
opportunities for connection
you have, it's the number of
successful connections you make
that will determine your future
earning power.
The advent of do-not-call lists
and a overall increased distrust
of strangers have made telemarketing
a low-return style of selling.
Rather than going for a quantity
of contacts, focus on your number
of quality connections. You'll
find it's so much easier to
close a deal with someone you're
connected to, instead of just
a "contact."
In contrast, trying to close
someone who you aren't connected
to is hard work. Unless you
get lucky, you'll walk away
discouraged because you "lost"
another sale -- when you weren't
in a position to win it in the
first place.
BIRTHDAY GIFT. Reader Steve
Bistritz of SellXL.com in Atlanta
showed me a study he led in
1999 that illustrates my point.
Steve is an expert on selling
to CEOs, and his study showed
that 80 of the 100 senior executives
he polled said they would only
occasionally or never approve
an initial meeting with a salesperson
who contacted them through a
direct phone call. Bear in mind,
that's just for CEOs, but the
message is the same -- you'll
sell more if you call on folks
with whom you're connected.
Looking for a powerful way
to make more sales connections?
Here's a jewel shared with me
by a very successful financial
products saleswoman I met years
ago, whom I'll call Cathy. She's
bright and experienced, and
her clients are primarily wealthy
"mature" women, but
this concept could be used with
almost any valuable client.
Before an important client's
birthday, Cathy invites her
to a celebration lunch with
her lady friends at a very nice
restaurant. The client provides
the guest list. Usually, her
friends are also well-off, because
birds of a feather really do
flock together. That's why selling
to those who are connected to
our clients is so powerful!
SEVERAL WINS. During the lunch,
her client's friends inevitably
ask Cathy about her business,
but she wisely demurs and steers
the conversation back to her
birthday client. By the end
of the meal, Cathy finally relents
and tells them a bit about her
business and makes her business
cards available to anyone who
asks for one.
Talk about leveraging connections.
Cathy wins from several directions
using this strategy. She probably
wins several new clients, who
likely get their own birthday
parties the following year.
She often receives more business
from her original client as
a thank you for the lovely party.
And Cathy also gets to know
her client even better, so she
can target new products or services
that fit her newly discovered
needs.
When your appointment calendar
looks emptier than you would
like, remember, "It's the
connection, stupid," and
make a list of those people
you're closely connected to.
They could be customers, but
they might also be friends,
neighbors, or relatives. Then
think about how they could introduce
you to prospective customers
and start connecting. Don't
be surprised when your tennis
partner's golf buddy becomes
your next big client.
The icing on the cake is it's
more enjoyable to do business
with people we're connected
to. This is true for you and
your new customers too, meaning
everybody wins. So stop cold
calling, get out there and connect.
Happy selling!
Michelle Nichols is a professional
sales speaker and consultant
based in Reno, NV. She welcomes
your questions and comments.
You can visit her web site at
www.savvyselling.com
or contact her at michelle.nichols@savvyselling.com.
Her direct line is (775) 303-8201
and her
toll-free number is (877) 352-9684.
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