98% of sales people don’t have this…..
Is your sales team using a SELLING SYSTEM to acquire new customers?
I’ve been reading a white paper on the biggest banks and their trends on the airplane ride to Destin, FL. It got me thinking of how valuable information can become when shared. I’d like to share some valuable information from me that I see everyday coaching teams just like yours. It’s around new customer acquisition. Please read and share with your sales manager, and have a sit down by using this information with ALL those people on your sales team that are NOT hitting their sales team.
The purpose of ANY business is to “create a customer” (Drucker). Is it possible that your sales team doesn’t know “how” to create new customers placing a high price tag on your marketing and advertising? What if they also had a personal lead generation system to help you generate new customers? I call this system Legacy Selling, because it’s about a coordinated and calculated attack on new customer acquisition that is systematic in it’s approach and helps the sales professional develop deep and meaningful relationships that lead to increased leads and business. I estimate that 95% of sales professionals do not have such system and spend their time and activity doing all the wrong things with all the wrong people.
The system warrants that you:
- Have a good product that solves a real problem. Money only changes hands when problems are solved.
- Have a service level that is consistent with your competitors. We believe the one competitive advantage many companies can have is a world class operations team.
- Have a sales team who will practice these “high value activities” weekly. Money follows attention, energy, circulation, and activity.
- Have a sales manager who will “manage to” the system. We must inspect what we expect.
- Have a score board that tracks both activities and results and there is accountability for no results with a red line minimum.
- Have a clear filter of who you are targeting as a potential customer vs. chasing or marketing to everyone.
- Have a defined “explanation of services” that shows your clear differentials, your proof of concept, what you actually do for the consumer, and a sales person who will make the important ask for the business.
The Legacy Selling System looks like this:
- Every week we start off with 10 people on our “Help List.” These are people we can “help” with our services. They are targets. We must do two things here: Get the target’s attention and share our explanation of services to see if there is “business chemistry” and potential.
- Once interest is shown we now have people in our “Farm club.” These relationships should be nourished and nurtured until a deal is done and we go 7–15 touches to convert a sales lead to a customer by creating a healthy tension between you and the prospect to push them toward a buying decision. Our goal is to accumulate as many people in our “Farm Club” as possible but seek to close a minimum of five per week.
- Once we get a commitment from a “Farm Club” member we now have a new customer. It’s vital that we onboard the new customer correctly and get buy in and commitment from the beginning with a face to face meeting. At this point our “Net Promoter Strategy” kicks in playing on the concept that every new customer will be one of four types: passive, detractor, promoter, or advocate. We quickly move the customer through the pipeline by creating unique and proprietary value for the customer and adding a “free prize,” something the customer gets that they never expected in addition to the transaction. This can be either tangible or intangible. Depending on the number of new customer you acquire weekly you may have 4–10 new Net Promoters to engage.
- Our ultimate strategy with every new customer or referral partner is to move them to our TOP 25 Board. These are 25 deep and meaningful relationships of consistent refer-ability and promotion in the market. These people get VIP treatment, inner access, and high touch and high frequency. We believe 25 great relationships will yield 75 new referrals per year of qualified referrals. We touch three of our TOP 25 per week in a deep and meaningful manner. This strategy can yield the most money in “multiplier relationships” and “feeder systems.” All relationships are not equal and these deserve the most attention.
These are our top four strategies to drive up personal lead generation. We also utilize:
- The database- A weekly e-mail with GREAT CONTENT, calls to action, VIDEO, and PODCAST.
- The Showcase- Monthly education, edutainment, or entertainment events that bring quality people together to share, talk business, or enjoy each other’s company.
- The Connector- Finding people of influence who can connect us to the real targets. We seek two or more of these per week.
- The Climber- We identify “future potentials” who are quickly climbing in status. We embed ourselves with them early in the game so as they climb they turn to us for their needs.
- Social Media- We believe in using all social media platforms to share valuable content and become “People of Interest” who have a point of view that is consumed by others on a consistent basis. We believe that we “attract” vs. “chase or sell” on these platforms and believe in giving away large amounts of free content before we ask for people’s business. We jab with three posts of value before asking for business every fourth post.
- The Aspirational Contact- This is where the sales professional routinely targets people producing at a much higher level and spends time with that talent. This sharpens the skills of the sales professional and places them in close proximity to improvement and mind expansion.
These ten strategies, if practiced weekly, will generate coordinated activity that will YIELD new sales. If managed to and through our Monster Producer Planner which allows a sales person to mental map their week, add key people to the vision board, and plan daily a sales professional will have a SELLING SYSTEM to work weekly and the sales manager will have something to MANAGE to. Without something to manage to (the selling system) there is NOTHING to hold your sales team accountable for except random and sporadic activity. This is the standard MO of most sales people causing drastic under performance and frustration on all sides.
Without this system sales people are just using hope and a few strategies to generate leads and very few sales people have enough leads to get enough opportunity to hit their sales goals. We must always remember when it comes to selling that “Hope is not a strategy.”
Contact me at firstname.lastname@example.org if you’re tired of your team under performing and you know they need a real customer acquisition plan.