Your Best Sale Ever! part 1

Happy Friday!   We will get back to reviewing closes in a few days... promise!   I want you to take a few minutes to think about your best sale ever.   Are you still waiting for your first sale? It's coming!   Let me tell you about one of my best sales ever .  I was about 26 years old selling insurance/annuities and had gotten a lead for an older couple and the son was going to be there.   The lead said "difficult" by the son's name...sometimes too much information is not good but I had an overabundance of enthusiasm and never pre-judged what a lead looked like...   I simply went thinking I could help them...aaahhh...to be young and naïve once again!   I pulled up to the driveway of a very nice house and the husband and wife were in a garden of beautiful roses.    "My mom would have a fit over these roses.  Lady Banks...right?" I began.   "A man that knows his roses...are you into gardening?" the husband asked. . "Only when my mother makes me.  You guys work too hard for me!" I answered laughing.   "A good son!" added his wife. "Speaking of sons, ours will be here in a few minutes. He insists on being involved as we contemplate making some changes to our financial picture. We have been retired for 4 years and lost quite a bit of money in all of the financial calamity."   "Yes, he insists on being here. Not sure if he is trying to protect us, or preserve our money to make sure we leave more to him," said the husband with a huff.   Can you say tension?   Just then, their son pulls up in a hurry and blurts out, "I hope you guys have not started without me, and for God's sake haven't signed anything!"   "We were waiting on you and just talking about their beautiful roses. My name is Brandon Clay," I said extending my hand that was left un-shaken.   "Roses, huh? Step one, build rapport, step two...fleece two elderly people, right? I've been in sales and I know how this works. Your business card says you are a insurance and annuities specialist - what does that mean exactly?"   Can you say antagonist?   I resisted the urge to meet his cynicism with defense or offense. Instead I did what I knew to do...I used my authentic voice;   "My primary role will be helping your parents provide for their current lifestyle needs, protect their hard-earned wealth from additional risk, and preserve it to be passed on to future generations. I understand your suspicions about the current state of affairs.   There were decades when people like your parents did all the right things, following what appeared to be sound advice...and then the game changed dramatically. That is regretful, but saying sorry to someone that has lost wealth is a small consolation.   What needs to happen now?   I believe a thorough review of your parent's resources, their risk tolerances and needs/goals should be blended into a comprehensive plan that can be implemented and, more importantly, understood by all involved."   Awkward silence.    Actually, not awkward for me.    I had already disconnected from the outcome of the sale and figured the worst thing that could happen is that I walked out with some rose clippings to give Natalie...   To be continued on Monday.   Some of my more devout followers will know that this true story is told in the 3rd installment of The Sales Crumbs Trilogy...Feasting on Sales Crumbs (shameless plug, but it is full of autobiographical stuff of my sales and life journey!)   While you know there will be a happy ending to this story (and yours!), it is how we get there that matters.    The best things in life are the things we work for and earn through adversity...using our gifts and skill.    Make no mistake, we will all take an "easy sale", but only the more difficult ones can qualify as... Your Best Sale Ever!    Until Monday, I wish you Money, Power, Success!

It's Closing Time! part 1

You have made your way to the table.   You have described every feature your product offers.   Then comes the moment of truth...will they buy?   The awkward silence.   You look at your prospect hoping they simply say,"   "I'll take it!"   Sometimes they do...other times...   There is an expression in sales that says, "Always Be Closing".  On the surface that phrase and the verb "to close" could seem manipulative and disrespectful toward clients. A battle over what they want to do and what you want them to do...a tug of war.   Yes, the negative perception of sales is due largely to the tactics of people whose motives are less than sincere and their products less than advertised.   But when you are there to serve and the product meets the majority needs of your prospect, then closing is a necessary interplay...no different then wooing and pursuing someone you are attracted to...just not as scary!   It is the power of words.   Sincerity of words is even more compelling, which is why some of the closes we will review will not sound or feel "right" to you.  The goal is not to script you (hard to be sincere when you are memorizing!), but to give you ideas on what to say when the moment of truth arrives. Let's start with some of the more common closes;   Assumptive Close - The type of close "assumes" that the client will buy without them explicitly saying it.  Some sales people begin filling out the paperwork saying, "Go get your checkbook, I will complete the contract and everything will be done in a few minutes."   This type of close allows you to take the first step of action toward completing the sale.  In the above example, the client will go get the checkbook or state an objection.  If they get the checkbook...proceed.  If you get an objection, you have more work to do.  Either path gives you a next step opportunity.   Think It Over Close - Somewhat opposite of the Assumptive Close, this one actually "backs off" to give the prospects time to mull over their decision.  There is a point in sales interaction when you know they are serious but on the fence.  You could decide to exercise all of your closing muscles, or you can relinquish control and give them a reprieve  This type of close can establish you as a "consultant/advisor" more than an aggressive sales person.  It can also set the stage for a longer relationship due to your low pressure approach.   "We have covered quite a bit, and you have asked some great questions.  You strike me as a very thoughtful person and a good nights sleep over my proposal might be all you need to have the confidence to buy.  What if I call you tomorrow at 6pm?"   Yes, sometimes your act of kindness is just giving the prospect a way out of the sale - would they have bought anyway...or worse, had remorse?  You shouldn't use this until all major objections have been satisfied.  Some sales people hate the "be backs" as they believe they don't turn into sales.  Meticulous set-up and follow-up can actually help you close more sales by being willing to give them time to think.    What Can You Afford Close - Most products have pricing flexibility based on added features and "bells and whistles".  People are biased to have an "I want it all" mentality or "I just want the basics".  Whether it is a car with standard features, or an insurance policy with a variety of riders, there comes a point when you have to sell the customer what they can afford.   "Mr.. Jones, affordability is always a concern and I want to provide you the highest value at a price that is comfortable...that would be important, right?  What amount per month is most comfortable for you and would still allow you to meet your desire to protect your family?   You still want to connect value to whatever amount they can afford.  You don't want to "cheapen" the purchase because they aren't buying the superior product.  Depending on your product, as their life changes, you should be able to go back and upgrade or add more.   In my profession of insurance, the overselling of premiums is the #1 reason for lapses...if they cant afford it...they wont pay for it!   We will continue to review closing techniques over the next several days.  The key will be to review them and see if any of them jive with your product and your personality.  A student of sales will write out their closes and practice with a colleague for feedback...yes, we all hate role playing!   But it works!   In order to build a career in sales you will have to have an arsenal of closes and know when... It's Closing Time!   Until tomorrow, I wish you Money, Power, Success!

Close for Business!

What is the singles fastest way to increase sales and your revenue?   Get more leads and see more clients?   Sure, that works, but that isn't the answer I was looking for....you would just be burning through people and facing burnout!   A more detailed question: What is the single most efficient way to increase your sales and revenue?   Increase your close rate.   Let's take a look at some math (hey, it's been a while!);     Direct Mail Pieces  Response Rate  # Of Prospects  Close Rate  Revenue from Sales ($500 per sale)   2,000  1%  20  30%  $3,000      Lets double the response rate (it could happen!) and see the results;   Direct Mail Pieces  Response Rate  # Of Prospects  Close Rate  Revenue from Sales ($500 per sale)   2,000  2%  40  30%  $6,000     Not bad results.  Can you count on a 2% response rate all the time?  Not likely.  Plus, you are seeing twice the number of people.  Again, not bad, but not efficient.   What if we went back to the original scenario and increased our close rate to 60%?  Don't worry yet about how you will get there.  I know many great closers who use 60% as a baseline...you can become a great closer.   Direct Mail Pieces  Response Rate  # Of Prospects  Close Rate  Revenue from Sales ($500 per sale)  2,000  1%  20  60%  $6,000   Seeing half the people, you make the same revenue.   Ok Brandon, you have dazzled me with the math.  The real question is...   "How do I become a better closer?"   I did a Yahoo search for "closing techniques" and over 500,000 entries came up...I am sure I was in there somewhere!  I pulled up several websites and videos and listened to a few dozen people rant and rave about their surefire closing techniques.    A couple of my favorites;   The Tear Up the Contract Close;   "Mr. Prospect, I have obviously wasted my time and yours.  This contract isn't worth the paper it's written on...rrrrriiippp! (he tears it in half!).  What do I have to do to start a new contract and make this work?' The I Will Get Fired If I Don't Close This Sale Close; "Mr. Prospect, if you are on the fence about this transaction, I need you to do me a favor.  If I don't meet my quota this week, I will likely lose my job.  Can you help me by making the decision to buy tonight?" My personal favorite...The I Must Be The Worse Salesperson In The World Close; "Mr. Prospect, each morning I go into the office and everyone is closing more than me.  Testimonials and referrals come in daily, but not for me.  It's obvious clients love the product, but I can't seem to close a sale...I must be the worse salesperson in the world.  What could I do better to convince you to buy?" The movie Glengarry Glen Ross comes to mind when I found these over the top examples.  Thankfully, they were "deep" into the search pages...never to reach light of day again!  Here is where I will give them credit...they are being true to their personality and they are asking for the sale!  Make no mistake, I would sound comical saying any of those things as they are antithetical to who I am as a person.  That is the key...doing what is authentic...and asking for the sale.  Authenticity, without closing, might make your prospect a "friend" but they will buy from a closer!   So what kind of closing techniques and approaches are best for you?  I have an expression that I teach sales people of all industries...   "The key to your selling voice is your buying ear" Brandon L. Clay   Over the next few days (or until I run out of techniques from the 500,000 entries!), we will review nothing but closes.  Evaluate them based on how they strike your "buying ear".  Some will be absurd to you (but perfect for others!) and some will resonate and can be adapted to your personality and selling style.   One thing is for sure, that in order to be successful you have to...   Close for Business!   Until tomorrow, I wish you Money, Power, Success!

Sales Is Like Riding A Bike!

When my oldest son Chaz was a child, he couldn't ride a bike.  Not his fault...we lived in an apartment at the time and room and safety was an issue.    We moved into a house and the promise of buying him a bike was fulfilled.  Problem was, he didn't want to ride it without the training wheels...until one day some neighborhood kids laughed at him.   "Dad, I want to take the training wheels off," he said holding back the tears.   I had encouraged him to do it weeks earlier, but knew the time would come when he wanted it bad enough.   We took off the wheels and he got on the bike.  The things that made it stable were gone and for the first time, he couldn't place both his feet on the pedals unless he moved forward...built momentum.   Even with me holding the back of the bike to steady it, he would panic when it was time to put the second foot on the pedal.  The bike would shake and he would "abort".   "What scares you?" I asked already knowing the answer.   "I am afraid to fall," he responded...now in tears.   "If I put the training wheels back on, would you be afraid of falling then?"   "No," he replied.   "But you have fallen even with the training wheels on, right?  That means that falling is still possible no matter what.  I will leave it up to you...training wheels or not?"   "No training wheels," he said with a little more resolve.   We had a long driveway that was mostly straight and had a slight elevation.  I started him in the middle and held on for several attempts as he pedaled and learned balance and steering.    About the 10th time, I took him a little higher up the driveway.  I took him about half-way with me holding on.  As you have already guessed...   I let go.   I still continued to talk to him to let him know I was there, but he was doing this all on his own.  He was still telling me to "hold him" not knowing I had let go.  He looked over his shoulder, saw I wasn't there, panicked...   and fell.   After he self-assessed for broken bones and realized he was ok...I started to laugh.    So did he.   For my newbies that have first time jitters I have 3 things to help you take off the training wheels;   1. Know your fears - what really scares you?  If it is rejection...get over it (sounds easy but must be done for this profession).  Rejection is going to happen.    If it is a fear of failure then review your goals and visualize your success until courage comes - it has to be internal.  The two will give you insight into who you are and what you are capable of.    Determine to be persistence in spite of rejection or temporary failure.  One lost opportunity does not make a winner "quit"...they keep going.  Resolve to be persistent until experience brings you competence and a succession of events will bring confidence.   2. Know your product.  Memorize the features.  Convert those features into benefits that your clients need.  Know what your product will do...and wont do.  If possible, experience the product at work in your life and build a belief in it.  Timidity (fear) is sometimes manufactured because you don't really believe in the product.    3. Know you limitations and stay on the straight path.  Most sales people don't start with finesse and skill.  They start out as order takers.  The closes they get are from people that need what they want and they are proficient enough to deliver the product.  That may help you close 15% of your opportunities.    How do you get to a 40% closing rate? The experience of objections, rejections, falling and failing will teach you the "little" things along the way that help you evolve...get better.  No one closes 100% and you will not either, but you must take the training wheels off and start pedaling.   For over the past decade, I have had the great fortune to be able to train brand new agents.  They are ambitious and enthusiastic and ready to take on the lifestyle that is sales.  I usually get the question,   "Do you ever get nervous?"   What me?  International author, speaker and trainer.  Builder of billion dollar companies...    Ok...yes, I still get nervous, but then I remember Chaz on that bike...less than 6 months later, he was building ramps and jumping over boxes. Converted fear had turned into skill.  That skill brings confidence in trying new and daring things.  New opportunities open new possibilities of growth and development...facing a new set of fears and challenges with a faith in your abilities.   Having seen 1,000 of sales people make the same progression, I am qualified to say that...   Sales Is Like Riding a Bike!   Until tomorrow, I wish you Money, Power, Success!

Hey Preppy!

Happy Monday!   1982..my senior year and the first day of school.   The whole summer I worked at Ponderosa Steakhouse and made my own money.  Put my clothes on layaway (does anyone still do that?) and had just gotten them out on Sunday.  I laid all the outfits on the bed.   What shall I wear?   Tough choices as I had an assortment of high fashion items.  My best friend, Steve Crews, and I had decided that our senior year, we were going to be trendsetters.  We bought suits and ties, Members Only, Polo and Izod outfits...coordinated to the tee!   After much deliberation, I decided to wear two Izod polos (yes, I said two!) with the inside collar flipped up and the other one down.  A pair of white pants and penny loafer with no socks.  Ok, Carlton from Fresh Prince comes to mind, but I did if first!    It was all laid out, pressed and prepared on the chair next to my bed (does anyone still do that?) so that the next morning all the guesswork had been taken out of my getting dressed.  Come morning, I put on my outfit, juiced up the California Curl (not the Jerry Curl mind you!) and spritzed on my Jovan Musk Oil.   I got on the bus (yea...no car...hey, I spent my money on clothes!) and someone shouted,   "Hey Preppy!"   The whole bus erupted and the chant was on.  I think episodes like that are where I got my tough rejection resistant skin.  I sat down next to a girl who said, "You smell nice...and I love the look...pay no attention to them".   That was the sale I was actually trying to make!   The point?   Relating to a sales call, there are 3 things you can do to cut yourself from the clutter of the 100's, maybe even 1,000's of of sales people who do what you do.  Certainly, if you can do these three things, you will be the sales person of choice for more clients, even if they have seen others sales people.   They are simple, but the vast majority of sales people do not do them;   1. Prepare 2. Be meticulous with detail 3. Dare to be different and memorable   1. Preparation - When you do prepare for your 1pm sales call?  I hope you don't say when you are in the driveway!  Early morning, or better yet, a night before review, will give you a higher level of confidence that you have the right product and approach for your client.  If your appointment is pre-set and you have limited information, work from what you do know to make sure you have what you need to present broadly...and then narrow the options.   Preparation makes you appear more professional, even if you are still a "newbie".  Nothing turns a client off faster than a sales person who seems discombobulated. It makes them feel like they weren't important enough for you to spend time getting ready for them.   2. Be meticulous with detail.  The first place to impress the client is simply to be on time.  Be dressed appropriately and be in control.  Using and remembering names is critical.  If kids are present, including them in elements of the discussion, that will reflect positively on you.  As you conduct your demonstration and ask questions, take notes.  Restate what you have heard and let them know you are focused on their needs.   If follow-up activity is necessary, create timetables of deliverables or dates and times you will call back with the additional information - then do it!  Just in the last month, I have had 3 service people neglect the promises they made to follow-up.  It has become so acceptable to provide slack service, that if you simply do what you say, you will set yourself apart from the majority.    3. Dare to be different and memorable.  I am not asking you to be the "Sham Wow" guy or be over the top, but you do have to do something that cuts you out from the clutter.  It could be a business card with your photo as a magnet for the refrigerator.  It could be a monthly newsletter that includes inspirational articles.  You could engage a CRM (Client Relationship Management) tool that provides you with high touch reminders.  Simply staying in contact will make you different!   Work on your brand and begin to incorporate things that are authentically you, but unique...you are one of a kind so leverage it!   Back to my trendsetting senior year.  The first week of school was filled with jeers and jokes from the guys...but ladies at my locker!    Funny thing...the next week, everyone was wearing two polos and ties to school.  Jovan Musk Oil was in short supply at JCPenney and the Jerry curl craze was on!  Within a month, we had accomplished our goal and it was actually kind of cool when people shouted...   Hey Preppy!   Until Monday, I wish you Money, Power, Success!