Online Sales

Don’t Speak!


Quiet down now. Don’t speak, just for a little bit. Let the moment marinate.

Most of us in sales are running over-programmed sales calls in which every pause, every quiet second, is something to be filled and patched over like so many cracks in a leaky boat. We believe that there is just so much to say and explain that to waste even a second means perhaps missing the one point or feature that might create the magic moment. But it’s a fool’s errand: the magic moments were there all along… we just talked over them.

Those empty seconds of silence are actually filled with anticipation, consideration, curiosity. They are the wellsprings of customer collaboration and commitment to the idea. But as the seller you have to do more than just listen.  You have to program these white space moments into your sales calls.

STAQ is proudly underwriting this week’s Drift. STAQ’s Industry Benchmarking provides actionable insights into your programmatic performance compared to the broader marketplace. This week’s insight: Most desktop display impression volume is 50%-70% viewable, yet there’s no meaningful CPM increase for viewability increases between 40% and 70%. For deeper insights including mobile viewability and CPMs, Join STAQ Industry Benchmarking.

In the sales workshops I conduct for media and technology sellers, the problems to be solved are always remarkably similar: the seller has far too much information and detail to share; the buyer is far too jaded, distracted and evasive; the marketplace is confusing and filled with far too many competitors; the time together is brief and fleeting.

Too many managers – and sales trainers – give the shallow admonition to “do your homework” and “listen more than you talk.”  But that means little to the seller. What she really needs is a plan… a plan to provoke and manage those quiet moments of consideration and commitment. That’s what I try to provide, and there are just five parts to the plan.

  1. First, show the customer a slide that tells them a few things you’ve learned about their business, their situation, their needs, their competitors. Ask them what they think is most important on this slide and what else you might have missed. Then shut up and listen fully.
  2. Next, show them a slide or page that clearly (and briefly) outlines the problem you hope to solve for them. Ask them how much this issue means to them and what else is critical to talk about. Then shut up and listen fully.
  3. Before talking about your solution, show them a page that makes a handful of promises about the standards and practices your company will employ in solving the problem for them. Ask if these are important considerations and what else they value. Then shut up and listen fully.
  4. Now talk about your potential solutions. Stop the conversation at several points and invite some silence by asking “How do you feel about this? … What would you do here?” At each point, shut up and listen fully.
  5. Finally, ask the customer for a commitment: If we can deliver this will you approve $X budget for it? This may be the most important silence of all. Shut up and let your customer fill the void.

This is what programming the silence looks like. At each step in the process you are provoking a thoughtful response from the customer. The opposite of talking isn’t just listening. It’s being in the moment. And it works.

I first posted this idea in 2016. Is it still just as relevant to you and your team? A customized, collaborative sales strategy workshop is easier and more cost-effective than you might think. Visit upstreamgroup.com/workshops or reach out directly to learn more.


Shake it Off!


Snap out of it! 

Yeah… you know who I’m talking to: You there in the Slanket about to launch your Netflix queue. Like many others in the digital ad business, Q1 2019 has been a hazy sleepwalk of stalled budgets, consolidation, sheepish buying and general malaise. But it’s not just you. And it’s not fatal. And it ends now.

Today’s Drift is our collective wake-up call. Here are a few ideas and themes to get your motor going and shake off the cold of Internet Marketing Winter.

STAQ is proudly underwriting this week’s Drift.  STAQ’s Industry Benchmarks provide insights into programmatic performance compared to the broader marketplace. This week’s insight: The 300×250 dominates as mobile continues to grow. The ad unit’s share of mobile revenue increased to 59% in 2019, while its share of revenue on desktop dropped to 19%.  Join STAQ Industry Benchmarks.

Start with One Short List. Getting your business back on track seems overwhelming because of the hundred choices and tasks littering your desktop and inbox. Get all that shit out of your way by consolidating into one short list. If it’s not something that’s going to get you closer to a customer or drive a revenue opportunity forward, table it.

Default to Action. Make sure your short list includes a lot of action verbs like write and call and propose. These will be your triggers to act.  Don’t fall prey to wimpy non-actions like follow up and touch base. The feeling of getting important things done has a massive psychological impact. You move the ball and simultaneously blow your funk out of the water.

Turn Down the In-House Noise. Has anybody ever bought anything from you on Slack? I didn’t think so. Yet we allow ourselves to let an endless string of email chains, slack discussions and internal meetings eat our days. Just say no. Put an internal out of office message on that says I’m on client business right now: text or phone me with any specific, urgent items. Then go back to your list.

Aim for the Middle. The CMO isn’t going to see you and the media planners can’t help you. But there’s a whole lot of people in the middle who can. Client advertising managers and marketing staff; agency media directors and group VPs.  Reach out to them with some We were thinking about your business today notes that cite a potential business problem, missing audience segment, storytelling problem… whatever. Ask for a short phone meeting with screen sharing (it’s less threatening and easier to schedule.)

Generosity is Fuel. Right now, you might be hung up on your need to sell something. Anything! This is exactly the time to be generous. Internally, do a favor or pay someone a public compliment. With your customers, think about doing something cool for their businesses. Generosity gets you out of your own head and breaks the negative loop you’re stuck in. Don’t just make a deal, make a difference.

Ask Unreasonable Questions. Are you open to having us earn a million dollars by solving a problem for your client? What would it take for you to open up the budgeting process and consider improving your plan? What would get us immediate approval to go to contract on this? 

Expect Nothing. Blame No One. Do Something. You are the one you’ve been waiting for. There are a million mopes out there who will only ever be a little better than the worst break they’ve had. Overcoming adversity and being better than your circumstances starts with a positive choice. Make that choice now and start acting on it.

Could your sales team use a boost? We build and deliver custom sales strategy and process workshops with a deep understanding of digital advertising, motivations and the fundamentals of selling. Visit www.upstreamgroup.com/workshops or reach out directly to learn more.


The New Normal?


Understanding our business by following the recent headlines about digital publishers is like learning civics by binge-watching cable news.  Yes, there are real issues and struggles. But there is also a fair bit of handwaving, amplification and ginned-up drama.

Yes, it’s awful if your job was eliminated in your company’s recent RIF.  Yes, it sucks if the company’s recent pivot and reorg means you’re now doing a job you don’t like quite as much.  And yes, it’s lousy that your firm has gotten a big haircut in its valuation.

But no, this is not the beginning of the end.

STAQ is proudly underwriting this week’s Drift.  STAQ’s Industry Benchmarks provides insights into programmatic performance compared to the broader marketplace.  This week’s insight: video units are being sold at an average of 6x higher CPMs than display ($8.46 vs $1.26), while PMPs for video are 2.5x higher than Open Auction ($16.86 vs $6.93).  Join STAQ’s Industry Benchmarks today.

It will sound simplistic and reductive, but having spent a full quarter of a century in digital media has given me some perspective on our latest crisis of confidence.  And since perspective seems to be in short supply just now, let me share.

Hegemony is Not Forever.  We were once assured that winner in digital advertising was Netscape.  (I’ll pause while you look it up.)  Since then we’ve seen Infoseek, Yahoo, Microsoft, AOL and others come and go.  Consolidation is a fact of life – it has always been thus – but it’s also cyclical.  The biggest guys dominate everything for a while, and then the smaller, more specialized players make a comeback.

Don’t Think You Know.  Don’t compare your insides to everybody else’s outsides.  As we struggle with our own company’s glitches and limitations, we tend to romanticize the workings and success of others.  Having spent time in the backyards of close to 700 companies over the years, I can tell you that everybody has weeds and brown spots.

It’s About the Marketer, Stupid!  Put away your 2×2 competitive matrix and lose your copy of the latest analyst reports.  Obsessively pouring over The Racing Form won’t make your horse run any faster.  If you’re going to obsess, stay tightly focused on marketers and their immediate business problems.  There are audiences they can’t connect with and stories they can’t tell.  They’re confused and anxious and need your help.  Put your energy on them:  it’s their money.

People Matter.  Sure, great technology might win you some deals and make your company more valuable to investors and acquirers.  But the dirty little secret is that smart people paying attention to a quality process still matter.  A lot. Our customers are working with the lowest headcounts and brain-counts they’ve ever experienced.  Care enough and focus on the right things and you’ll earn far more than a spot on the plan… you’ll become an in-sourced department and you’ll be bulletproof.

Default to Action.   Every one of us has a finite amount of attention and energy.  Spend it worrying about your competitors or watching stock prices and industry headlines and see where it gets you.  Expect nothing…blame no one…do something.  You can’t control the outcome but you can control your own behavior and choices.  And feel great about the work you do…every day.


Face to Face, 2.0.


Sellers in our industry are tasked with explaining detailed technology, benefits and programs, and subsequently persuading the customer to act.  Each believes that — if only I could get the meeting! – he or she could make the case and make the sale.

Maybe.  Except you’re probably not going to get the meeting.  And you’re almost certainly not going to get it in time.

If you’re a qualified media sales leader or manager, reach out to us today to secure your company’s season pass to the 2019 Seller Forum Series.  Side-by-side with other industry leaders, you’ll hear from key customers, anticipate market behavior, and solve real management problems.

Consider that clients and buyers have fewer available hours on the calendar and less administrative and staff support than ever before.  They’re looking for fewer face-to-face meetings and can erect barriers to contact more easily than ever before.  And the average client is getting literally dozens of requests for an hour of your time every day.

Some sellers continue to bank on getting that hour in the office.  Others give up altogether and do nothing but transact by email.  But there’s a third option:  the well-planned phone meeting.  Scheduling a call with a tight, focused purpose puts less pressure on the client’s calendar, is more easily scheduled or rescheduled sooner than a face-to-face might be.  For reps who are trying to shorten the sales cycle this means fewer I can’t make the meeting but I’ll see you in 3 months moments.

But there’s also a powerful hidden benefit to the phone:  intimacy.

Structure and execute your phone meeting properly (more on that below) and you can use the phone call and supporting visuals the way a storyteller uses a podcast.  Here’s how.

  • Have Something Clear to Solve For. If the client won’t take a meeting just to be talked at, they’re not going to take a phone call either if that’s all you’ve got.  The incremental audience or enhanced ability to tell a crucial brand story will give your call purpose.
  • Share a Screen. Rather than a complicated video conference, choose instead to be looking at the same slides and images that your customer is.  A common point of reference can be more productive and less awkward for everyone involved.
  • Get to the Point and Keep Your Promises. If you asked for 20 minutes, then get down to business right away.  No glad handing early in the call.  Pace yourself and end on time.
  • Short and Simple. Two or three slides or diagrams is the most you should ever hope to convey in a phone conference.  Make sure they’re about the customer and the opportunity.
  • Ask for What You Want. If you can’t ask a question with a strong verb (recommend, approve, budget, etc.) then you’re not going to move the ball.  By respecting the client’s time and intelligence, you have the right to ask for clarity on where you stand.  Do it.  Listen to the answers and engage around them…that’s where the selling happens.

Don’t think of phone calls as just stepping-stones to in person meetings.  Nor are they something you’re settling for.  They’re a smart, effective tool that can speed up your sales cycle and help you compete in a time-starved world.


Closer.


The reason your sales calls aren’t turning into sales may have nothing to do with preparation, content, fit or numbers. They might just be too big. Repeat after me:

Small meetings are always better than big meetings.

It’s counterintuitive, but very true. Many of us grew up doing classroom presentations, went on to practice doing the company pitch in front of our peers at sales conferences, and probably dream of someday doing our own TED Talk. So it’s understandable that we crave the spotlight that goes with a crowd. But in reality those presentations are not moving the ball down the field. And they never will.

Small meetings are always better than big meetings.

When you get a group of 3, 4, 5 or more people together in a conference room, the politics get bigger and the opportunities get smaller. People don’t share in large rooms. They are less curious, more guarded, less honest. People don’t surface real objections in a crowd. They may listen to you, but they don’t work with you. Collaboration never gets started. Everyone is polite (well, except those jerk-offs checking email on their phones of course) but no one is truly engaged.

Small meetings are always better than big meetings.

This week’s Drift is proudly underwritten by Salesforce DMP. Salesforce DMP allows you to capture, unify, and activate your data to strengthen consumer relationships across every touchpoint. Find out more here.

In workshops with digital sellers, I preach the value of the intimate, collaborative, one-on-one or one-on-two meeting. With the right decision maker of course. You’d be better off having five small meetings on the phone with key customers than ten big lunch-and-learns. In small meeting about the right things, customers lean in, they share, they object, they tell you the truth…and they collaborate. It doesn’t just happen of course…you’ve still got to earn the opportunity and execute it well. If you go in and turn on the lawn sprinkler of PowerPoint and company bullshit, you’ll still get a bad outcome in a small meeting. But if you prepare and plan and focus on doing good things for the client’s business, your meeting will stand out like a candle in the darkness.

Small meetings are always better than big meetings.

Marketing departments, stop cranking out newer and slicker versions of “the company story.” Nobody wants to hear them. Start helping your sellers tell the customer’s story and the heroic role your company can play in it. Sales managers, stop confusing activity with progress. Counting the number of rooms filled with warm bodies is a fool’s errand. Sellers, focus on really deserving the meeting with the CMO or Product Manager or Group VP and you will get more of them.

And for God sake, keep ‘em small. Intimacy is the new power.

This post was first distributed in May 2016.  Rumor has it that there are still too many big meetings taking place.