Do You Know Your Sales Process Cold?

Jake Sanders - How many prospects do you have right now that you have had your initial discovery call with but haven’t closed? My guess is 98%! Well, it’s not really a guess because according to FollowUpSuccess, only 2% of sales are made on the first contact.

So 2% of the time, a prospect is going to lay a deal right on your lap. Fantastic. Congrats. Btw...that is NOT sales my friend. That’s order taking.

Ok, well then how do you close the other 98%?

Following up is a great start, but the previous article also points out that 80% of all sales are made between the fifth and twelfth contact, meaning the first, second or even third follow-up just isn’t enough.

If you don’t know your sales process like the back of your hand, then today is the day to learn! Stop whatever you are doing right now, get out a piece of paper, and write down your company’s successful sales process. Keep in mind that your company may have multiple sales processes based on the different products/services it sells.

Once you have it written down in front of you, take a look at your pipeline and figure out where each deal is in the process and exactly what your next step needs to be. Call and follow-up to make sure the prospect received additional info, examples, proposals or proposal reviews. Finally, ask for the close and collect the money. There you have it.

Now that you know the true next step, you can handle it with confidence and get each deal moving in a positive direction. The key here is knowing exactly why you are following up and having that plan ready before you pick up the phone or draft the email. It sounds really simple and obvious, but the reality is that almost 75% of all salespeople will never make more than two attempts to follow-up with a prospect.

This means that simply knowing your sales process and executing the right steps at the right time already puts you ahead of the average joe salesman. That little bit of extra effort is what will propel you to close more deals!

Jake Sanders is the Vice President of Sales at Richter10.2 Media Group. For more information about Richter10.2, check out our introduction video here.

We Don't Want Your Money

Wil Seabrook: As a small business owner, part of my responsibility is monitoring our bottom line and always focusing on expansion. But I’ve found that things get really serious when I focus all my attention on money. Money is not why I get out of bed and come to work every morning. I get out of bed because I love working with our creative team to produce products and services that actually help our clients.
 
When we wrap up one of our videos or deliver a new sales relationship for a client, it’s like Christmas morning seeing the fantastic response. The client is excited and reinvigorated on the reasons they get out of bed. Our job, simply put, is to help our clients explain to their audience exactly what they bring to the table and why it has value.

When it comes to our own bottom line, I’ve found that the more I focus on simply making sales or bringing more income in the door, the less fun the whole process becomes. What is fun is helping every client expand their business. That’s what we do all day every day, and there’s always a fresh creative challenge, as well as something new to learn about the amazing and creative ways that people solve problems I never even knew existed!

I’ve become more of a renaissance man in the last few years as I’ve learned about hundreds of business models in dozens of industries. I can actually predict trends in tech and business, not because I have my ear to the ground of the latest industry reports or Wall Street predictions, but because I’m actually talking to the hard working people who are out there every day making our economy grow under the most challenging conditions we’ve faced in a generation.

That’s why I get out of bed in the morning and why I love my job and our creative team as much as I do. We don’t focus on making money from our clients. We focus on giving them the best possible return on their investment with us. We’re in this for the long haul, and we’re here to help. There’s no better game out there than the one we’re playing.

When a client says things like “This is literally the best money I’ve ever spent on our PR and marketing,” then I know we’re doing our job and loving it in the process.

Here's a few recent video examples to give you an idea of our work:

Wil Seabrook is the COO and Co-founder of Richter10.2 Media Group. For more information about Richter10.2, check out our introduction video here.

 

Are You Recruiting Your Prospects to Close?

Jake Sanders- If you follow the world of college athletics (specifically NCAA Division 1 Basketball, give me a break I'm from Kentucky!), there was an interesting article published on ESPN today.

The article pertains to a rule change allowing coaches to contact recruits via phone calls, text messages, Facebook, Twitter messages, etc. There will be many schools, families and recruits that will embrace this opportunity to use today’s more contemporary (and preferred) communication methods to connect with recruiters and college programs.

After all, coaches are trying to do the exact same thing you are as a salesperson: CLOSE the deal. After reading the article, I asked myself, “Do I know how my prospects and clients prefer to be communicated with? Could this be the reason I am having a hard time reaching certain prospects?” Ask yourself the same question.

Your prospects are always giving you signs and signals on how to find and communicate effectively with them. They’re practically giving you an electronic roadmap. If a prospect puts their cell-phone and LinkedIn profile on their email signature, they are telling you it is okay to connect with them using these methods.

Listen to them and take advantage of this opportunity. Don’t ignore these tips from them and continue to pound their desk phone line and leave the same follow up message. Call their cell or send them an invitation to connect on LinkedIn (once they have accepted, don’t forget to send them a direct message asking for what it is you need!). You may find that a prospect who seems impossible to catch at their office is quick to respond to a call on their cell or a text.

Now with all this being said, remember to be professional and not a stalker. If a prospect doesn’t give you their cell-phone, don’t try to get it from someone else at their office. Odds are it won’t sit well with them. Be smart and use today’s available technology to communicate more effectively with your target.

It will help you close more deals.

Jake Sanders is the Vice President of Sales at Richter10.2 Media Group. For more information about Richter10.2, check out our introduction video here. You can find more content from Jake on his website, Sales Snacks, here. 

Effort to Effortless

Robert Cornish: I'm sure it's real to you that sometimes things take a little more effort than planned for. If you were to push a car that was out of gas, it would take some effort to get the thing rolling, but once you gained some momentum, it would practically roll itself.
 
In any situation in business, you can handle or overcome obstacles with sheer effort. In other words, if you were trying to make one sale, had three prospects and all three cycles were not closing - you could go get 30 prospects and take a huge amount of effort to work all 30 and some would close - agreed?

And so it goes with your prospecting activities, sales and revenue. While you can read business book after book on the topic, the funny thing is, some problems are so simple that we overlook them. Just sheer effort can change your entire company.

You've seen the person on the basketball court who just works harder. Just hustles more and takes more effort than the others. That person seems to eventually get all the balls and score the points.

Well, this applies to business as well. If you're not completely satisfied with your current growth rate, sales results or revenue numbers - I'd suggest taking a lot more effort. Perhaps you're not doing enough now?

If you were pummeling your sales team with new reaches (sales leads) each week one after the next so much so that they needed to get an assistant to help organize them - or if you created an assault of new videos for every product, service and value proposition for your company and then posted them on every square inch of the web as well as emailed every prospect about it - you would impact your numbers positively.

At first, this would seem like a lot of effort because it's well above what you're doing now, but after doing it consistently, you would start to see new business calling and emailing you almost effortlessly.

So think in terms of effort. Push yourself to take far too much effort and the result will be in line with what you're looking for.

With all that said, our team can help carry the burden for some of the effort. In fact, we love it! So bring it on. Let us help drive your sales with our strategic relations program and videos. We'll make effort look good.

Robert Cornish is the CEO and Cofounder of Richter10.2 Media Group. For more information about Richter10.2, or if you want use our agency's services, check out our introduction video here.

 

U.S. Economy Slowing Down-How to Keep Your Business Moving Forward

Reuter's came out with a study today with some bad news for the U.S. economy. U.S. companies are finding it more difficult to grow their revenue now than at just about any time since the financial crisis.

For some, this is just baffling. We've been told by our government that the private sector is doing just fine. Since 2012 started, many companies have been nothing but optimistic about the recovery and starting off the year with impressive numbers. What we've seen, however, is a sharp downturn to start off the summer, with growth almost half of what it was last year. 

This slowdown is discouraging, but should serve as a warning more than anything else. Just like pain is our body telling us to stop what we are doing, this news is a similar wake-up call for businesses trying to grow like it's 2002. 

The problem typically comes down to sales. Getting people to buy your product or use your business is always a challenge. It seems like we are trying harder and harder to make profitable connections but are coming up shorter and shorter as the quarters go by. Well, what works? What can companies do to change what they're doing and finally see some manageable growth that isn't just a fluke?

I submit a new strategy for businesses to try out. PRIME Strategy. Conceptualized by the Richter10.2 Media Group founders, Robert Cornish and Wil Seabrook, PRIME is built to create the relationships that businesses are trying to make with their customers and vested interests but aren't able to do on their own.

It's not exactly public relations, marketing or advertising. Instead, it's strategic relations: identifying exactly what audience you want and crafting a message designed specifically for that audience, making the deal an inevitable close. 

How do I know this works? We use it for our company, Richter10.2 Media Group. We use PRIME to find clients for our video company, R102 Video. We're seeing constant growth with no sign of slowdown, even during these trying times. 

5 weeks ago, I had no idea what Richter10.2 Media Group was about. After, a month of being introduced to their mission, purpose, and history of growth, I have an irresistible urge to share their methods that are working for more and more businesses every day. 

Jon Negroni is the Director of Public Relations at Richter10.2 Media Group. For more information regarding Richter10.2 and PRIME, check out our introduction video here.

Speed

Have you ever truly looked over the value of speed as it relates to your companies growth, strategies, sales, delivery and expansion? I personally rate this as one of the highest valued items in our agency and in any company.

Speed. How fast you can take an idea into execution to make that idea a reality. Speed is your friend and time is your enemy. Speed of delivery. How fast can you deliver your product or service with the highest level of quality. Speed of sales. How fast can you find your audience, prospect, sell and close them to create hoards of new business.

Speed is something you should measure, if you don't already. People talk frequently about competition, what the other companies are doing etc. If you master speed, the truth is, there isn't any real competition out there. Most companies are slow. Most people are slow. Competition is a highly overrated concept. Focus on speed and the "competition" becomes something that you view from a distance scratching your head wondering how and why they don't get it.

Even looking at today's economy, if people and companies operated faster, new companies started fasted, decisions were made faster, speed became a central and crucial element of the marketplace, we wouldn't have a problem. The economy would recover swiftly and new fresh funds would be produced and circulated quickly.

Sometimes simple answers are the hardest to figure out but are ultimately the best solution.

Make a point this week and next to execute tasks faster. Speed up your cycles. Look at how you can take the time out of the equation on situations and your production will increase. Look at all the applications of speed and figure out how to put them into action.

- Speed of sales
- Speed of promotional ideas to get them into action
- Speed of quality delivery
- Speed of internal communications
- Speed of external communications
- Speed of news to the market
- Speed of promotional updates or changes such as websites etc
- Speed of hiring, training and executing actions
- Speed of meetings and phone calls

While this may sound a little overboard - it's not, I assure you. There are slownesses all throughout your personal actions day to day as well as throughout your company and I promise, it's costing you the game. Take speed seriously. Get disciplined about it and your "competition" will become a silly concept. Companies are slow, people are slow ..... take advantage of it.

- Robert Cornish
CEO, Richter10.2 Media Group

Get Organized

Just a brief comment on the importance of being organized and having clear systems and administration for your company.

I personally feel that a huge amount of profit is lost in this area. A lot of companies are strong in sales or delivery or customer service but not many are truly strong in administration. In other words, your process, operations, systems etc. Really think it through and make a checklist of the areas that need to be addressed.

Here is a starting point:

- Flow charts for all key areas and functions like sales, delivery, finance posted on the wall so they are viewable for training and drilling

- Progress boards to monitor and track key actions so you can manage and push progress week to week

- Clearly defined positions and actions for each person in written format so your people can study them and become competent for their position

- A form of measurement for all key company indicators that can be tracked weekly to compare from week to week and to set targets for improvement

- Checklists or procedures for handling specific actions like collecting income, closing sales, delivering to new clients in order to have exact sequences that are followed every time without fail

These are just a few basic fundamental points to look into. The basic message here is that time and time again I see companies losing opportunities and income simply by lack of planning, lack of systems and lack of organization which results in chaos and confusion in the company making people look busy when in actual fact it's unproductive business.

Make all systems and functions clearly defined and ensure you have procedures that are organized and orderly in all areas and your production level will go through the roof. It's not time you lack, it's a lack of administration that organizes processes to create more time for you. Inefficiencies are expensive.

Our agency tends to get about a months work done in a week simply because we are organized and can execute and have systems for everything. Don't run around and say your busy and have no time... get organized, be ruthless about your systems and create time in order to focus on doing more to expand your company. Dissect your processes and jam in orderly operations and you'll see what I mean.

- Robert Cornish
CEO, Richter10.2 Media Group