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August 2008

All my competitors stink!

As the political landscape heats up here in the U.S., I am reminded about a classic sales mistake:  bashing the competition.

 

As I’m watching the election campaign heat up, I amazed at how many people feel the need to bash the competition in order to build themselves up.  Seriously, you can decide that a certain candidate is not the right choice - but I challenge anyone to find a candidate for president that wasn’t honestly thinking that they were not doing the right thing for the country – even if their method you oppose.  You may decide John McCain is the wrong choice, but regardless, he is a treasure to this country for his service and his drive in making this a better place.  Likewise, you can hate Obama’s need to raise taxes, but that doesn’t mean that he isn’t trying to better our country in his own way.  I’m proud to call both men my countrymen – even if I do have an opinion as to who would do a better job.

 

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Do you find it hard to leave sales mode?

Recently, my boss told me that “I needed to just talk to him straight – and didn’t need to sell him.”  My wife often asks me to stop “selling” her.

 

Is it possible that after selling for my entire career, that I don’t know how to conduct a transaction that doesn’t involve selling?  Are all of my conversations conducted using my sales skills?

 

Anyone else have this issue?

Never vomit on your potential customers

While it may seem obvious that you should never vomit on your prospects, its a very common move that sales people make.

 

No.. I’m not referring to actually spewing your chewed Shakeshack burger onto your customer – but spewing WAY too much information.  

 

The easiest thing to do in a sales call is to just talk and talk and talk.  Yet – this rarely leads to a sale.  When you are more focused on getting all of your points out, and less on what the customer wants to hear – you are essentially losing lots of opportunities to learn what the customer needs – and responding to that need.

 

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Words are words, excuses are excuses: performance is reality

I’ve been loving watching the Olympics this past week – which is new for me.  Usually, I’m fairly ho-hum on watching the Olympics, but this year I’ve really enjoyed it.  Not just the Americans, but everyone who is performing and trying their best.  In a discussion about the amazing run of golds by Michael Phelps, someone quoted a business book (they didn’t say which one) that had a quote:  “Words are words, excuses are excuses, but performance is reality”

 

This is VERY true in sales.  In the end, it doesn’t matter how many words you use, and how many excuses you may have for NOT selling, or getting that meeting, or closing that deal.  In the end, its all about your performance.

 

While this sounds harsh and cold, its the true reality.  Nobody gets paid, the lights don’t turn on, and the coffee doesn’t brew unless sales makes the deals.   We are the front line, and while it may seem heartless when a sales manager or COO or CEO says, “what have you done for me lately?”   Its the reality in running a business and its all about delivering results. 

 

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What's In It For Them?

I also answered this question recently on LinkedIn and thought it made sense to add to the blog.

What is the best way to sell enterprise software?

What do you think are the pros and cons of each of these methods:

1) Promoting Features the client will find advantageous
2) Devising Operational Solutions to solve a business problem
3) Advancing Strategic Enablers to change the way the client does business

Are there appropriate situations for using one method over the others? What alternate approaches might be helpful in facilitating software sales?

My Answer:

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How essential is a catchy company name?

I answered this question recently on LinkedIn and thought that my answer spoke directly to some of my recent posts – so I thought I would re-post it here:

The question needs to be answered in relative terms to the business that the company is in. Many companies have been successful without catchy names, and plenty of companies with catchy names have failed.

If you have the right marketing and sales team – and the right product – you can overcome anything on the naming side. While selecting the correct name certainly makes the marketing and sales teams’ jobs easier, I don’t think it is the make or break if you have the right teams taking it to market.

I founded Dynamic Mobile Data, and was told numerous times about how horrible a name it was by my customers, by my investors, by friends and family. Nonetheless, our product was sold to and used by major corporations across North America. Why? Because our product was the best, it worked, and we knew how to sell the VALUE of the company and the product.

I saw plenty a company with a catchy name come and go while I made sale after sale.

Branding is extremely important – both on the company name side and the product name side – but ultimately what will bring success and failure to a company will be the product and the ability to communicate its value to customers

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Value sales does NOT mean ingenuine sales

Wow… I have to say that I never expected to have so many people ask me about my post on not logging into the software.     My wife, in particular, lambasted me in promoting some sort of used car salesman technique as if I’m trying to pull something over on the customer.

 

I would NEVER promote selling a customer that doesn’t need your product.  I believe that you always sell the right solution to customers – always be genuine.  You first should identify if the customer needs the product.  If he/she does in your eyes, and you honestly feel that you can bring about an improvement in their life/business/etc.  then you can and should continue.

 

What I’m proposing from that point on, is a technique to get them to understand your point of view on how you can help them understand that best.  My technique is to sell to the value of the product rather that focusing on the features of your product in detail.  (and to be more clear on my never logging into the software post - what I was referring to was that salespeople that have deep understanding of their product can very easily fall back into the feature sale rather than the value sale.  If you have the luxury of using sales engineers to deal with details, then the salesperson is FORCED to sell on value because that is all they know in detail).   

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Sales calesthentics: Find a mentor

Yesterday, I got a call from my mentor.  He happened to be in the city, had a few hours between meetings, and he wanted to grab a cup of coffee.  As luck would have it, I was not too busy, and made the time to go sit down with him.  The experience was so energizing that it reminded me just how valuable having a mentor can be for a salesperson.

 

Salespeople, almost by definition, are very self-confident and egomaniacs.  You almost have to be – in order to deal with near constant rejection – and determine ways to overcome that rejection and/or move on from that rejection.  But because of that, it can be very difficult for a salesperson to step out of that mind-set, and learn and listen to those that may know more than him/her – or at least have more experience than him/her.

 

My mentor is someone that I actually hired into the company that I founded.  His role was to help me rebuild sales for our company post 9/11.  I didn’t think that we needed to hire anyone, but the VC’s were insistent that we do an executive search and find someone with serious turn-around experience to ensure that we would have success.  We instantly hit it off, and quickly we were making huge sales strides working on the accounts together.

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Sell Value: The customer becomes your sales tool

My recent post The Genius Behind Never Logging Into The Software I Was Selling, has generated a great deal of off-line discussion.  I wish much of it was captured in the blog itself – so I’ll try to capture some of it and put it in here.

Certain individuals seemed to miss the point – somehow interpreting what I was saying as promoting a sale that was ingenuine.  In fact, I’m promoting just the opposite.  I’m promoting the fact that what you need to sell is the value of your software, and if YOU understand the value ABOVE the noise of how the software does it – then you will actually be better at finding the proper solution for the customer – and identifying IF they need it at all.

If you can sell the customer on WHY the software makes sense for them, and you’ve spent the time to understand how the software does that, then you can certainly will have an internal champion.  If the customer is “closed” in terms of value – then actually completing the close becomes much easier.  They become your internal sales tool, because THEY will look for ways to overcome the objections.

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