closing

Do the Math. Make the Sale.

117
Shares
Share with your friends










Submit

“I was told there’d be no math.”  ~ Ethan Hawke as Troy, “Reality Bites.”

Like it or not, there’s math.  And if you want to make the sale, you’re going to have to dust off the calculator.

When I work with teams of sellers in sales strategy workshops, I introduce them to a tactical tool called The Teaching Challenge.  Inspired by the great conceptual work of Dixon and Adamson in The Challenger Sale, it’s really just a very clear statement – preferably written and shared early in the sales call – that answers the question “So why are we here today?”  The answer should challenge the customer’s assumptions and summon up and re-frame an urgent business problem.  This then creates a meaningful path to your solution.

I’ve come to discover that the best Teaching Challenges almost always revolve around numbers.  When reps take the time to do the math – even if the math is questioned by the customer – it almost always creates the urgency and focus that wouldn’t otherwise exist.

Promotional Message:  If you could tell five thousand digital sales leaders and sellers about your product or service each week in a focused, exclusive environment, would you do it?  Digital sellers have been anticipating, reading and sharing The Drift for more than 15 years.  A provocative, POV-driven read, it’s also a great vehicle for our underwriting sponsors.  We’re taking reservations for the second half of 2017, so if you’re interested please contact Tamara Clarke to plan your campaign today.

But very few sellers do the math.  Instead, they throw out meaningless generalities like “we’ll help you reach more millennial moms” or “we can help make your media plan more efficient.”  How many more millennial moms?  In what period of time?  What’s their economic value to my brand?  How much more efficient will you help me become?  How much money will I save this quarter?  If I’m the customer, I may not necessarily expect you to have all the answers.  But I at least want to know you asked the right questions.

But isn’t impossible to find these answers?  If your standard is immutable truth, then perhaps. But that’s not where the bar should be set.  Each of us can approach our customer with a working hypothesis about the scope and cost of her unsolved problem or unrealized opportunity.

Old, traditional approach:  “Young urban men are really important to your brand, and we’ll help you reach a lot more of them.”

After doing the math:  “We’re estimating that there will be 2.5 million urban, millennial men actively searching online for a product like yours in the next 6 weeks. Every 5% of that active market you win means $3 million in sales.  You’ve got a window of opportunity to get to these customers with a proactive strategy before your competitor, brand X, does.  We have the core capabilities to help you with that strategy.  Can I tell you how?”

Many reps avoid specifics because they worry too much about the downside of being wrong.  But it’s better to be specific and wrong than it is to be accurate and meaningless. Your hypothesis need only be credible, and you need only to be able to show your work.

So take a shot.  Do the math.  Bring your customer to the whiteboard to work on the problem with you and you’re halfway home.

117
Shares
Share with your friends










Submit

Closing Cases, Solving Crimes.

51
Shares
Share with your friends










Submit

Watch any police procedural and you’ll hear the grizzled veteran detectives talk about ‘closing cases.’  To add a retro visual, you’ll even see them erase victim names or case numbers from a huge blackboard in the station house.  But as you learn, closing cases is not the same as solving crimes.

The cop who closes cases is mostly concerned about the bureaucracy of getting a case disposed of; tagging it with a plausible outcome and getting it out of active consideration.  It’s Dragnet meets The Dilbert Zone.   In contrast to these uninspired civil servants, we’ll see the real cop in the bunch…the one who isn’t satisfied until she solves the crime and brings the real culprit to justice.

This week’s Drift is proudly underwritten by Krux, the Salesforce DMP.  Krux drives more valuable content, commerce, and advertising experiences for the world’s leading marketers and media companies. Clients include Anheuser-Busch In-Bev, JetBlue, Kellogg, L’Oréal, Meredith Corporation, NewsCorp, the BBC, and Peugeot Citroen. Learn more at www.krux.com.

It’s occurred to me recently that we have a version of this contrast playing out within sales teams in our industry.  There are a lot of erstwhile sellers who are actually just closing cases.  They watch the board, they take notes, they report out what happens.  If they don’t get included on the RFP or the client decides to spend the money with another vendor, they dutifully append the case with the outcome and take it out of circulation.  They will have a half-dozen very good reasons why the sale wasn’t made, and an air-tight rationale for closing it out.

Contrast this with the seller who’s really out to solve the crime.  This seller goes into the investigation with genuine curiosity.  Win or lose, he wants to chase down every lead, interview every witness, eliminate every dead end.  If the case seems to be going cold or the witnesses disappear, he digs deeper and with greater urgency; he finds a way to pry it back open and earning a second or third look from the customer.

Sellers who solve crimes are a rare breed in our station houses.  Maybe it’s because we don’t call out and recognize their particular contributions enough.  Or perhaps we’re just not being clear about the nature of the job that needs to be done.  Is the drive and ability to solve crimes just something you’re born with?  Or can it be taught?  I aim to find out.

We need a new kind of cop in this town.

51
Shares
Share with your friends










Submit

Mind Your Verbs.

38
Shares
Share with your friends










Submit

Mind Your VerbsWe live in a world of nouns and adjectives. Our platforms are transparent, our audience segments are discrete. Most of us in the digital ad business generate enough nouns and adjectives to crush the spirit of the most ambitious high school English teacher. But when it comes to the verbs, we get really wimpy.

Rather than approaching sales situations with boldness and conviction, our verbs tiptoe in on little cat-feet.  Ask a digital seller to describe the objective of a sales call with a would-be client and you won’t hear disrupt, close or persuade. You’ll hear him talk about educating, sharing our story or evangelizing. Is he there to sell something? Perish the thought! No, better to just try to be top of mind when they need us later.

This week’s Drift is proudly underwritten by PubMatic, who provides a Marketing Automation Platform for Publishers (MAPP).  It empowers publishers with a single view into their advertiser relationships, across every screen, channel and format.  Through workflow automation, real-time analytics and yield management, PubMatic enables publishers to make smarter, faster decisions that drive revenue and streamline operations. To learn more, please click here.

You may think I’m a little obsessive at this point, but I can live with that. I know that words matter. And salespeople rarely act bigger on sales calls than the verbs they use to describe their actions.

If you’re a manager, how are you going to hold your seller accountable around soft verbs? “So you went in to educate them? How’d that go? How much more educated are they now than they were last week?” And please tell me what the desired outcome is for evangelizing. I’m assuming it must have something to do with customers falling to the floor and speaking in tongues, which seems fairly rare.

If you’re a seller, ask yourself an important question: “Why am I avoiding verbs that mean something?” Do you not talk about selling and persuading to avoid being rude or to avoid being accountable?   It’s gut check time; time for us each to own why we’re in our jobs, in front of customers, in this business?   We’re there to change the outcome. To ask hard questions. To persuade. To secure commitment. To sell.

Next time you’re talking with your manager or seller, listen to the words you’re using. Get the verbs right and you’ll be amazed how clear and compelling your sales picture becomes.

We’ve just opened registration for the next Upstream Seller Forum, June 29th (Dinner) and 30th (Forum). If you lead a media sales organization, this unique peer-to-peer events was built by and for people like you. Request your invitation today.

38
Shares
Share with your friends










Submit

Strategy, 101.

21
Shares
Share with your friends










Submit

Strategy 101Somewhere out there, early on a January morning, a seller has already been awake for hours. He’s staring at a number – his sales goal for the next several months. His company has a solid product, not a dominant one.

His managers try to motivate and support, but only being a year or two in management themselves they can tell him to ‘be more strategic’ but can’t really tell him how. Here’s how.

Triage. What are the factors that make one prospect more likely than another to become a customer? Are they cranking up spending this quarter? Do you have even one ‘truth teller’ at the agency or client who could give you the straight story? Do their preferred metrics and buying style align at all with your offerings? Have they been a customer before? If you answer yes to all or most of these questions, these are your focus accounts – your A’s. All no’s? It’s a C; drop it. Mixed results? It’s a B, so set it aside for work later.

We’ll be hosting the first Seller Forum of 2015 – featuring special video content – on Wednesday night March 11th and Thursday March 12th in New York. If you’re a CRO, EVP, SVP or VP of sales with national, North American or global responsibility, you need to be in that room. We’ll have a heavy focus on all things video this time, with plenty of other great content and discussion around industry news, financial visibility and lots more. Request your invitation today.

Decide What You Control. It’s easy to waste time lamenting what you don’t have, what a competitor might be doing, or how bad the decision making is at the agency. Instead, inventory those things you can control. They are: (1) your intent – are you really out to do a great job for the customer? (2) your POV on the customer’s business situation – not just what you know but what you think is important; (3) the agenda for your meetings – a good answer for “why are we here today?” (Hint: if it’s about ‘updating’ the customer, ‘introducing them’ to your product or ‘learning more’ about their challenges, you will lose); (4) the quality of your recommendation; stop with the big capabilities deck; nobody cares. Decide what combination of products and services will help this client at this moment in time. If you tell ‘em everything, you’re telling ‘em nothing.

Start in the Middle. In between the CMO and the media planning team, there are a lot of people who can help you: account owners at the agency… strategic planning… group VPs… functional specialists at the client. Put away your pitch for a while and start teeing up honest conversations and email exchanges with these people.

Ask Better Questions. Ask questions customers can say “no” to. Will you buy from me? Do we have your commitment? Do we really have a chance here? Hope is too often the opposite of clarity. What you want to constantly be asking is Where do we really stand? and What can we do to keep moving forward?

Stop Waiting. If things are not closing because you’re constantly waiting on something – a product feature, a call back, a change in the budgeting process – then you’re not making a difference.  You can wait till things calm down, till you get through your inbox, till the weather changes. Or you can simply act. Take chances, try one new thing each day. Ask forgiveness, not permission.

It may turn out that the one you’ve been waiting for is you.

21
Shares
Share with your friends










Submit

Say the Words.

23
Shares
Share with your friends










Submit

Say the WordsFor the sales teams I work with, the list of symptoms is remarkably consistent:  long, unstable sales cycles; buyers going radio silent after receiving proposals; small deal sizes; low close rates; too many small ‘tests’ that lead nowhere; lack of pipeline visibility ; weak forecasting.

Sound familiar?  The symptoms are so consistent because they all stem from the same disease.  Your sellers aren’t closing.  This may sound simplistic, and your senior sellers might even take exception with my diagnosis, but look a little closer and you’ll see that I’ve actually got it right.

This week’s Drift is proudly underwritten by Bionic Advertising Systems, an advertising technology company focused on delivering innovative software that streamlines and automates media workflow for marketers, their advertising agencies, and publishers.

Closing isn’t a cliché, nor is it just a general attitude or posture on a sales call.  It’s a very specific event within the discussion; a direct question that either does or doesn’t get asked.  But rather than guess about whether your sellers are closing or taking their word for it, take this simple test.

  1. When you ask your team members about their upcoming sales calls, do they often use words like education and evangelism?
  2. Do they talk about seeing how the customer feels about the program or opportunity?
  3. Is the program or package in question usually attached directly to an urgent business problem?
  4. Does it have a specific expiration date attached to it?
  5. Is there a specific dollar figure attached to your recommendation? (Instead of just a range of options and levels.)

If your answers tended toward yes, yes, no, no and no, then you’ve got a closing problem.  Your seller is choosing (consciously or otherwise) a comfortable, non-confrontational conclusion to the meeting.  They’re telling the customer to please consider it or lamely offering to touch base again soon to see what you guys want to do.  They’re saying anything and everything besides asking the question that will improve all your business metrics.  Will you buy this from us?

Here’s an exercise you can do with your team that will start to immediately improve the situation.  As your sellers prepare to go on their next sales calls, ask Exactly what are we asking this customer to do?  and What’s the specific price tag or estimate you’re going to give them?   Now sit down across from your seller and role play:  have them ask you for the order in the exact words they would use with the client.  Is this going to be an uncomfortable moment?  Absolutely.  But if they can’t say the words to you, they damn sure can’t say them to the customer.

Comfortable, inconclusive meetings are a luxury you can no longer afford.  Ask your sellers the hard questions today so they can start asking your buyers hard questions tomorrow.  And be sure to let me know how it goes.

23
Shares
Share with your friends










Submit