Bill Rice Internet Marketing > social selling

5 Sources of New Business

November 1, 2011 by

As sales folks we’re always looking for leads, right? Over the years the most productive trick for me is to have a lot of sources of prospects always churning around in my daily prospecting routine.

Business woman reading

Here are some of my regular money-makers…

Keep Up on the News

Whether it’s Google News online or the good old-fashioned newspaper, keep in the know.

At least once a week I will spot a person, an organization, or a trend that has an interesting business angle for me. These opportunities are going to look a little different for every sales person, but here are some real examples readers have shared with me:

  • A local region was targeted by the Department of Energy for funding smart grid technology. One of our readers sold a technology solution that was a key component to the kind of project.
  • A mortgage broker spotted a new builder purchasing existing lots in a incomplete neighborhood development. She got an exclusive referral relationship.
  • Numerous stories of how recent legislative changes have opened and closed short-term opportunities for mortgage and insurance brokers.

In addition to direct leads, being knowledgeable of what’s going on the world, and even in sports, can give you the edge in a new sales conversation.

Do you have any stories of sales leads you got from tracking the news? I’d love to hear it in a comment below.

Follow Your Competitors

It sounds like follow-the-leader, which is rarely a good strategy. However, I use this strategy more like a quarterback reading the defense. I want to know where the gaps are so I can throw to the open field. And if everything is covered I like to know where the weakest coverage or my strongest advantage is so I can drive it to my strongest option.

You’re going to have competition. It’s really silly to ignore them. I’ve found over the years, whether they are better or worse than you, they’re still going to feed you leads. Be ready to gather them up.

Networking

Online or offline, you need to be meeting and connecting with people constantly.

My online networking strategy is to go broad, test, and then narrow to the most productive. On a monthly basis I’m usually testing one or more social networking channels. I love observing and measuring the sociology of it all and seeing how I can move human behavior. It’s fascinating and highly profitable. In a highly attention saturated market it’s tough to move people in the right direction. I want my market to see the real stuff that can help them or their business–that’s my goal.

[Secret tip: Once I have determined the most effective strategy in these online networks I teach it and have others manage most of the day-to-day engagement. This allows me to scale these less efficient networking venues.]

My offline strategy is similar. The challenge is that it takes your physical presence and that can be highly inefficient. Therefore, my testing is far more critical. I want to find the best events, meetings, and organizations that are target-rich. Then I concentrate on those venues.

[Secret tip: I also leverage others in my offline strategy. Again, as I figure out the venue or it becomes less productive, I will have others manage and maintain our organization’s presence. That way we are still participating, adding value, and gaining value; but it doesn’t always require my personal presence.]

Don’t Forget Local

In the age of the Internet and everyone being connected, local is rich with business opportunity. I’m not talking about Google Local or some other hot topic in online local. I’m talking walking through the door and shaking a hand in your local community.

Sure everyone goes straight to Google when they need a product or service, but what if you had walked through the door a couple of months ago. Right! They would instead say, “Who was that guy or gal that was in here a few weeks ago–I’m gonna find that card and call them.” Or even better, when that person is asked for “Their guy (or gal) for such and such.” They’ll proudly dig out your card and get you a referral because everyone wants to show they’re connected.

Speaking & Writing

This is my bread and butter if you’re willing to put in the effort. It is a long-term strategy, but it is also a long-term money-maker. I get calls and emails daily for folks that have read my stuff or heard me speak. Ironically, most of it is older stuff (I think this might be the Google effect of older stuff ranking higher). However, that’s the magic. Stuff I wrote years ago or a talk I gave months ago is still bringing me a steady flow of conversations and leads.

In addition, it is a rich repository of sales collateral and references for my current sales. Invariably a new prospect will want me to send them something. My archive of blog posts and presentations makes that about a 5 minute exercise.

Talk to me people! What are your favorite sources of new business? Leave a comment and share.

Filed Under: Lead Generation Tagged With: local, networking, new business, social selling


5 Tips to Better Sales Emails

October 27, 2011 by

Email is still the most effective marketing technique. It’s easy to automate and highly efficient at bringing in qualified new leads. Whether you are managing a large marketing list or trying to open the door on a new major accounts, these are a few tips proven to increase your email sales results.

Sales email

1. Subject Line That Look Human

It all starts here. Even the best of emails will go unopened 60-80% of the time. That’s why repetition and frequency is important, but that’s another topic. However, to get that 20-40% open rate you have to make it look like something worth opening.

Here’s my mental checklist:

  • Does it look like a subject line a friend or family member might write
  • Make it short and avoid Title Case (marketer red flag)
  • Make it interesting, maybe even a little mysterious

2. Short and Casual Copy

Make your email short. No one reads email, they glance at it. If they open yours and it looks like a college term paper, even in the best of scenarios, they will file it for later. Most likely they will delete it.

Keep everything casual. Again complex and formal gets filed for later. Simple and breezy copy gets them to glance at your offer.

3. Add a Little Value

The body of your email should flow naturally from your subject line. In other words it should fulfill the promise of the subject line. If you promised secrets, a list, or 5 tips–make sure they are there. This gives the customer the feel of real value–something to try now.

You noticed I mentioned secrets, lists, and tips. This is what people open emails for. Even if you are selling something make sure you are giving them a secret, a list, or some tips to validate the value and credibility of your offer.

4. Create a Sense of Urgency

Open up Google or Yahoo! News. Grab something from the headlines. Something that is already probably top of mind. Weave it into your offer. Make it be the reason they need to drop everything to act on your email.

My experience has shown me that buzz topics get the best response, but you can also try special offers and discounts. However, I think most customers are numb to those techniques.

5. Make Action Clear and Easy

MOST IMPORTANT ALERT! Sorry for all the caps, but I see this mistake all the time and it kills email performance.

Give your email reader only one thing to do. Request only one action in your email. And make it crazy obvious and easy.

If you want them to come to your website make a big button and say. “Get X at My Website.”

Don’t say, “Buy my book, or click on that ad in the corner, or follow me on Twitter, or call me, or email me a good time to talk, or, or, or, or.” Your email reader will do nothing. Guaranteed!

What are your secrets to selling with email? Do you have any tricks that work like magic? Tell us in the comments.

Filed Under: Email Marketing Tagged With: 5 tips, email marketing, social selling


Be Like George Washington

October 26, 2011 by

George Washington was a famous listener.

In fact, even though he was unanimously elected president of the Constitutional Convention he rarely engaged in the debates. However, his influence is largely attributed for convincing all thirteen states to ratify the new Constitution.

George washington sales

Let the Client Sell You

My experience confirms this as a killer sales strategy. People love to talk. If you can restrain your urge to do the same your prospects and clients will invariably tell you exactly they need to hear to be convinced to make a decision.

Remember to listen closely so you don’t miss the gift.

Then when you do speak…simply give them the pitch they asked for it.

Stop Trolling for Hints

Those who don’t follow this advice often use a tactic I like to call baiting or trolling. This technique typically plays as badly to the client as it sounds. You’ve heard this sales people that are continually throwing out ideas and alternatives hoping the client twitches just right.

They think this is giving them a clue into their buying mindset. Typically, they are looking for a graceful way to get you off the phone or our of their office.

If You Talk Too Much

If you can’t hold your tongue you might end up being an example of Abraham Lincoln’s sage words.

“Better to remain silent and be thought a fool than to speak and remove all doubt.”

What are your thoughts on listening for more for sales? Do you have a specific story or example where listening more got the sale?

Filed Under: Quick Sales Tips Tagged With: george washington, listening, social selling


Clients Love Creativity

October 18, 2011 by

Nothing is worse than paying a bill for average stuff. I hate paying my taxes, my utility bills, and most of all my cable bill.

Why? Because it’s boring stuff. Bills I just have to pay and I don’t really feel like I’m getting a lot for my money.

Creativity

In contrast, there are a few bills I love to pay. My designer, my writers, my book purchases on Amazon.com. Why? Just the opposite of the above–I feel like I got something creative and valuable.

That’s what clients want. That’s what will get you more sales, more referrals, and more prompt invoice payments. So start a creativity plan for your business…

Inspire Your Creativity

It all starts with getting off your process-minded treadmill and strolling about in the park occasionally.

I’m all for hard-nose sales discipline. The trick is getting just as disciplined about sparking a creative process too. Here are a few (disciplined) things I do to capture creative inspiration.

  • Stretch my brain with books and blogs
  • Always, Always, Always force a positive attitude
  • Observe and collect. I always have a small notebook nearby
  • Study creativity. When you see it, dissect it
  • Find mentors and inspirations (i.e., Steve Jobs)

Simply taking note of ads, emails, blogs, designs, and businesses that seem to be full of creativity will seed your own creativity. That’s the first step. Now you have to move this inspiration towards the client. Make it your value proposition.

Deliver Your Creativity

Once you’re taking note of all the creativity around you, the next step is to make it part of your core business. I implement this with three major strategies:

  1. Curate ideas for my clients. This is as simple as capturing ideas in a note or a link. Then methodically passing relevant ones to the appropriate clients. Avoid being proprietary. It’s okay to share things that might be a bit competitive. My experience is that clients don’t want a lot of vendor relationships. Instead they want one smart and trustworthy one that can execute. Let them know, “This is a great idea. Would you want to consider riffing off this for a similar campaign or offering?”
  2. Tune them into what’s working for others. Without violating any confidentially or proprietary agreements, tune you clients into other successes you’re having. Provide them with insight into trends and tactics that are working for other clients. As a consultant, they’re paying for this insight.
  3. Provide unsolicited proposals. Don’t be a lazy contractor. Win your business everyday. Study your client’s business and pepper them with proposals for additional work. This works in two ways: First, it helps clients see opportunities they may not see when they’re heads down in the day-to-day. Second, it advises your client of your full range of capabilities–heading off any RFPs going to competitors.

Important Note: These examples are focused on consultants and freelancers. However, for all my auto sales, mortgage broker, and insurance agent friends in the audience you should use the same process. Alert them to leading edge trends (i.e., new models, rates, programs in the market) Advise them of models, financing options, and policies that are currently the most popular Routinely make them offers they can’t refuse. This goes for past clients especially

Turn Creativity Into Revenue

It all come down to this–Show Me the Money!

As you’re inspiring your creative process and delivering it to prospects and clients, do it with dollar signs. Make sure you’re clear about the revenue possibilities with these ideas.

Never pitch a creative idea because it is fun, silly, or interesting.

The Old Spice viral YouTube series was not pitched as being fun and frivolous. It was pitched with the objective of making your grandfather’s aftershave cool to a whole new generation for the express purpose of raking in millions of dollars from that generation–oh, and it’s kinda funny too.

Do you deliver creativity? How do you make creativity a part of your value proposition to customers?

Filed Under: Quick Sales Tips Tagged With: Consulting, creativity, social selling


12 Open-ended Questions That Close Deals

October 14, 2011 by

My dad loves this classic advice and quotes it often:

“We have two ears on one mouth so that we can listen twice as much as we speak.”

~Epictetus (Greek philosopher)

Sales folks always struggle with listening more than we talk. But, it’s not really our fault. When was the last time that you had a sales prospect that started out in a chatty mood?

Listen dont talk

There is a way though. It just takes right open-ended questions, in the right order and you can get your foot in the door and your prospect talking there way into a sale.

In my experience, the key to getting a new prospect to open up is as simple as asking them about themselves. Long live narcissism! We’ve all got a touch of it…use it.

Questions that Qualify Prospects

I hate to say this (it sounds so shallow), but the worst sales conversation to find yourself in is one with a talker that is definitely not a qualified prospect. Admit it. We’ve all been trapped here.

That’s why I always try to start with an open-ended question that gives me some immediate qualifying signals. Here are a few I like to use.

  1. In an ideal world what would this [insert product or project] do for you?
  2. What parts of getting [insert product or project] concern/worry you the most?
  3. We’re all trying to get fast results. When do you think you will be ready to get [insert product or project]?
  4. What are your initial thoughts on [insert product or project]?

Questions that Establish Rapport, Trust, and Credibility

After you’re pretty sure this is a live one, it’s time to put on the charm…or more importantly let them love the attention you’re giving them.

  1. What put you in the position to lead this important initiative?
  2. How do we really make this a shining success on your resume?
  3. How will this project be measured and prioritized versus others?
  4. What frustrates you the most about the current state?

Questions that Gather Information

Okay, you have a qualified prospect and they know your listening and care; it’s time to get the information you need to close the deal.

  1. What prompted you to put this at the top of your priority list?
  2. What are the top three must haves to make this a success?
  3. What’s the internal process to make your project a high-profile focus?
  4. What have been the biggest stumbling blocks to new initiatives in the past?

You have the questions to open up a great conversation. Now silence your urge to lead, prompt, or otherwise interrupt your prospects from giving you the keys and permission to close the deal.

One more great quote we in sales need to remember:

“The single biggest problem in communication is the illusion that it has taken place.”

~George Bernard Shaw

What are some of the open-ended questions you use? Join the discussion in the comments.

Filed Under: Quick Sales Tips Tagged With: open-ended, questions, sales scripts, social selling


Every Sales Person Needs a Website

July 13, 2011 by

Mortgage website computer

Every sales person needs a website. It really is just that simple.

If you’re a mortgage sales person I can solve this missing part of your sales funnel in 48 hours…

My team a Kaleidico just launched two new game-changing products:

1. Mortgage Web in a Box Websites, a full-featured mortgage lead system for only $47/month. If you want fresh articles and blog posts automatically posted every week you can get the Pro version for only $97/month.

2. Mortgage Web in Box Articles, if you already have a mortgage website or blog you can put it on auto-pilot. This service provides you with expertly written mortgage articles every month.

Why is this so important to your mortgage business (or really any sales person)?

Let’s do a little thought exercise…

Think about the last 5 major purchases you made. Where did you go first? Right, the Web.

Face it, we are hopelessly jacked into the Web. (Heck, I’m on vacation in beautiful Italy and I’m still sadly plugged in 24/7.) What’s more, people that are using the Web to research, compare, and select the companies and people they want to work with online tend to be the kind of people you want calling you–affluent, educated, and ready to buy.

Are you willing to miss these kinds of sales opportunities?

Okay, then stop fooling around and get the mortgage website or mortgage articles you need to get more Internet mortgage leads.

 

 

Filed Under: Lead Generation Tagged With: sales people, social selling, website


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