Power Up - Marketing and Selling for Greater Success

Trust - that little word that means so much

The word "trust" is talked about by every sales person.  They know it is one of those intangible components needed to make a sale - and get the referrals, etc.  In some training programs I conduct the topic is often discussed in depth.  Essentially the discussion comes down to not that trust is important but how does one gain trust.

The basic way is to keep promises, fulfill your commitments, and honor your word.  This is easier said for some than done.

Recently a friend of mine shared an experience that summarizes the trust dynamic.  He found an investment adviser that he trusted and after a few meetings he moved some of his investments to that adviser.  After a few months, and not hearing from the adviser, he called the office and asked for the adviser.  My friend was told the adviser was no longer working there.  He then asked about the adviser's partner - that person was unavailable at the moment.  The manager got on the line and asked my friend if there was anything he could help with.  They set up an appointment to meet and on the appointed day the manager reviewed the portfolio with my friend and explained that his adviserleaving was just one of those career things.  Also, the advisor's partner was no longer with the firm. 

My friend noticed that his account was not set up the way the firm had been instructed and that there was a mis-allocation of funds.  The manager tried to gloss over it and when pushed on the point stated that it must have been an error by the previous adviser - taking no responsibility for overseeing the appropriate authorization process.

Trust was lost and my friend was also upset that no one communicated with him that his adviser left the firm and who his replacement was.  The end result was movement of a six-figure portfolio to another firm - one that could be trusted and proved it with past experience.

I would suggest to sales people that trust is not just part of the sales process but the account maintenance process.  It is hard to get referrals when the business moves elsewhere.

Customize your elevator speech

We all know we should have "elevator speeches."  I have been to some workshops where the presenter spent a large amount of time with individuals to help them craft their 'unique' speech.  The person left the session thinking that their new elevator speech was going to open all the doors to success.  They found out otherwise very quickly.

The thing that we must remember about elevator speeches is that they are a way to open a conversation with another person.  Given that we then need to realize  that not everyone will be as informed about your business as you are and we need to 'dumb down' the terminology and use words that are commonly understood.

We also need to realize that we will come into contact with a variety of people and that it is most appropriate to have more than a single elevator speech.  Recently while I was in So. Carolina on business a sales executive told me his approach.  He assess the individual he is talking with and then explains to them in terms they can understand what he does.  For the more technically minded he will use the buzzwords of the industry.  For a common Joe, like me, he will use less technically complex language.  I told him he was exactly right in his approach.  By connecting at the right level with your audience, no matter if it is on an elevator or in a huge seminar, you are showing respect for the other person and you dramatically improve the comprehension of your message.

So, the next time you need to explain what you do in 10 - 15 seconds, make sure you use a customized "elevator speech" so your message not only leads to a further conversation but is more memorable.

Stupidity hurts selling success !

Your initial reaction to the title of this post is probably - "of course stupidity is going to hurt sales."  Well, that is a logical reaction but I see professional sales people do stupid things every day.  It is not only the new sales people that  need training but the old line pros that step all over their potential success.

The latest case in point is a dinner meeting I attended last night.  It was being held by a financial advisor to explain his approach to managing assets, etc.  This is not a new concept in selling and, in fact, it is a very popular one with the retiring baby boomer generation.

My wife and I show up on time and, along with about 20 other people, were told that all the arrangements were being finalized and to just have a seat at the bar for a moment or two.  Seemed odd that they were not ready on time but I was willing to wait a little.   And, in a few minutes we were escorted into the dining room and seated.  We were greeted at the doorway, a good point for any sales person, and our drink orders taken.  The advisor then made the announcement that his PowerPoint projector and computer were not operating properly and he would not be giving his presentation this evening.  But, he was glad to see the nice turnout and that we all should enjoy the promised meal and relax.

Some people felt that was great - a free meal - just what they came for.  I was disappointed since I wanted to hear the advisor's perspective on various investment issues.  I did not care about pretty graphs but content from the advisor.  As he began to walk away my wife asked him if he could share some thoughts without visuals.  He said, "well, a picture is worth a thousand words and I need the equipment to tell the story."  He was not willing to provide us any information on himself, his firm, their approach to investment management, nor any points of differentiation from his competitors which, in this town, are on every corner.

This "I need my canned presentation" guy is not a pro.  He is a presenter with a backroom that obviously makes the decisions and he can't even talk extemporaneously about his business.  How sad.

The fact that he will invite us all back again next month for another free meal and a presentation when his equipment is working is meaningless.  He has shown he does not know how to talk about his business and explain basic reasons for doing business with his firm.   When we become so dependent on the electronic tools that we are incapable of selling our services, we have reached the point of incompetence.

I hope you do not sabatage your selling efforts by acting stupid like this advisor did.

Now go out there and sell.