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Tip 107 If You Are Single, You Are In Sales
We’re all in sales. Do you want a raise or a promotion? You’re in sales. Do you have a new idea at work? You’re in sales. Are you single? You are DEFINITELY in sales. Even though I was a CMO at Deloitte and then Starwood (where I also led sales for awhile), in fact I was really terrible at applying this "sales" wisdom in bars when I was single. But the rules are the same, whether you’re selling a house, the services of your start-up, or yourself...
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Posted by Keith Ferrazzi on February 12, 2008 | Permalink
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If you're not single, you're still in sales. Because if you don't keep selling your partner on your value, you're going to end up single again.
Posted by: Sallie Goetsch | Feb 12, 2008 2:42:39 PM
You can attract far more prospects to look at your offer by providing an education than you'll ever get by simply offering your products or services. For example: Let's say you sell telephone systems, like Company X. Before discovering this concept, Company X would call hundreds of companies per day and ask if they were interested in talking about a new telephone system (product offer). They had four salespeople making hundreds of calls per day. They would get about 3 appointments per week.
First of all, every company that has a phone system that is five years old or older can probably benefit from a new phone system in some way. More than 15 major providers of phone systems just ten years ago are now OUT of the phone system business. Yet the companies that have these systems, as long as they are working and they can still get used parts, might not think they need a phone system.
So here's a company making hundreds of phone calls per day asking: "Would you like to talk about maybe getting a new phone system?" Anthing wrong with this process? No-- but, that's if you don't want to increase your profits and sales in 12 months flat.
Here are the three steps Company X used to its double sales, once they discovered the consumer education sales concept:
Step 1. The first thing they did was target bigger companies. The bigger the company, the bigger the phone system.
Step 2. The salespeople called the 2000 largest companies in their market with two simple questions: "Hi, we're doing our annual telephone system survey. I just need to know two things: What is the model of your phone system and how old is it?"
In two days, the salespeople had a list of 508 companies with old phone systems.
Step 3. The sales representatives called on these larger companies with one offer: "We have a new educational program entitled: The nine ways you're wasting money on your voice and data spending." They then continued with: "We've been in the telephone business for ten years now and we've found that every company wastes money on their voice and data spending in at least nine areas. So we put together this educational program as a way to teach companies how to stop wasting money and start saving their valuable dollars. We do this as a public relations effort. If you ever need any help at all with your voice, data or telephone system needs, we want you to know about us. So this is simply us putting our best foot forward."
This approach increased their appointment setting ten fold, from three appointments per week to 30 appointments per week. This company did $3 million the year before using this approach and put $9 million in their pipeline for the coming year in just six months of using this strategy.
What kind of a free education could YOU offer that would make your prospects want to meet with you? Or respond to your ad? Or take an interest in your direct mail approach?
Important point: Sales is about building rapport, not breaking it. When you SELL, you're breaking rapport. No one wants to be "sold." When you EDUCATE, you are building rapport. In fact, studies show that your credibility increases significantly when you begin all meetings with data that is of value to the prospect- start all your meetings by teaching your prospect something, or by giving them data that proves that you've completed your homework.
A newspaper company had fallen 40% in gross revenues and lost all of their profits. They used to call up clients and say: "Hi, we'd love to come and talk to you about advertising in our newspaper." They were quickly shut down and shut out.
They started providing a "community educational service to help local businesses succeed, which resulted in a significant increase not just in getting in through the door see prospects, but also in sales. This client went up $100 million in sales in a single year.
If your local newspaper called you up and offered to teach you the seven things that make all businesses succeed, you'd probably find that pretty hard to turn down. They'd still have to talk you into the meeting, but it would be an easier sell than talking you into an unwanted meeting to try and pitch advertising opportunities.
Naturally, there's more to this and the subtleties are where you succeed, but if you embrace the concept of "educational-based-marketing" you will out-market your competitors at every turn. Think about this; what makes this strategy so powerful is that it attracts buyers before they are even thinking about buying. Educational- based marketing casts a wider net, attracts more buyers at every turn and closes a higher percent of prospects if and only if the "education" you provide is of true value. This is the least expensive, most effective marketing concept you will ever use.
Chet Holmes is the CEO of Chet Holmes International, a training company that specializes in helping companies experience fast growth concepts. To learn more about the consumer education marketing strategy, including a 16 page detailed report on the concept, go to http://www.howtodoublesales.com.
Chet Holmes is the CEO of Chet Holmes International, a training company that specializes in helping companies experience fast growth concepts. To learn more about the consumer education marketing strategy, including a 16 page detailed report on the concept, go to http://www.howtodoublesales.com.. Article on sales, sales strategy, educational-based-marketing, marketing, solo entrepreneur, marketing strategy by Chet Holmes
Posted by: sue | Feb 13, 2008 4:00:39 AM
Wow Keith, the "If your married your in..." analogies could go on forever! :-)
Some people who aren't happy with their marriage are probably moaning about this. But, those people need to wake up.
Seriously though, if you're married you need to be maintaining and growing trust and morale. If it's not sales it is still a noble and important task for the family CEO!
Posted by: Aaron King | Feb 14, 2008 6:37:29 AM
If you are already married, you're also in marketing and need to think about loyalty program and customer satisfaction:)
Posted by: Natalia Goloskokova | Feb 14, 2008 7:16:37 AM
Couldn't agree more! We're living a perpetual sales life... and each of us are selling ourselves, our brands. Me/You Inc.
Posted by: Jose | Feb 14, 2008 7:23:28 AM
Excellent tip! It is well thought of and explained. I never consciously thought about those in relationships still being in sales but it makes so much sense!
Keith, your "Never Eat Alone," is one of my favorite books for good reason.
Thanks
kb
Posted by: kb bishi | Feb 14, 2008 7:28:13 AM
Keith;
Perfect timing and Perfect sharing.
I concur with you that every interaction is a presentation or a sale - selling of an idea, product or service. I prefer to use the term engagement and commitment. The distinction being engagement is when the other person is touched, moved and inspired by your idea. Commitment is when they actually buy.
I liked Sue's comment above on how educating your potential customers is the best way to get the foot inside the door. In addition to that I would say two factors need to be always kept in focus:
a. Value that you are providing
b. Creating a sense of urgency
Segmentation is another important aspect of identifying your target market, before even getting into the differentiation.
Positioning = Segmentation + Differentiation
For individual Sales, I recommend the investment banking approach:
1. Identify the working needs of the client. Discover the big picture
2. Identify the key decision makers and the decision making process
3. Create a value proposition with a win/win solution
4. Pitch it in terms of quantitative (% market share, profits, revenues) and qualitative aspects (employee morale, customer satisfaction, relationships)
Best,
Kaushal Aras
--
Kaushal Aras
Website: www.kaushalaras.com
Linkedin:http://www.linkedin.com/in/kaushalaras
Blog:http://kaushalarasblogs.blogspot.com
Posted by: Kaushal Aras | Feb 14, 2008 11:59:37 AM
Keith -- Your thoughts are a true Valentine gift! You have taught us that life is about sales, whether it is dealing with clients, children, lovers, even ourselves. My blog today is from one of my columns, your advice goes up next.
A Valentine Fairy Godmother: Providence Journal (and my blog)
by Rita Watson
If I could be the Valentine’s Day Fairy Godmother I would wave my magic wand and turn Feb. 14 into Children’s Day. I am incurable romantic. As a teenager my aunt taught us to think “Love.” She had us wear silk nightgowns, a strand of pearls, and a splash of Joy perfume to bed each night because, we were told, “You never know whom you will meet in your dreams.” continued on www.decisionmakingtips.com
www.ritawatson.com
Posted by: RitaWatson.com | Feb 14, 2008 12:03:33 PM
Great stuff! A resource that I find very valuable in any area of influence and persuasion is the book "Influence" by Dr. Robert Cialdini. It's a timeless classic; I always find something new each time I read it.
Mike Cooch
www.biggersmall.com
www.everonit.com
Posted by: Mike Cooch | Feb 14, 2008 12:29:45 PM
I am a firm believer in always being the best representative of yourself. When you think people aren't watching they ARE! I always think that I am about to run into my million dollar client, and thus I act accordingly with everyone I meet. I consider being nice to everyone from my waitress to my bagboy as practice in my networking and sales!! Good luck everyone.
Dorota
Posted by: Dorota | Feb 18, 2008 6:50:23 AM
I agree!! Only recently someone was chatting with me and said that he wasn't good enough for me. Our first conversation was more like a psychologists' session than a getting to know each other session. No sale there!
People have to sell themselves everywhere from careers, to relationships, and even when THEY are the customers.
As an aside, I absolutely loved your book. The tips are great and they're helping me to connect with people. I've also recommended it to a ton of my friends because I think that networking is essential to success and I certainly want them to be on the path to success with me.
Posted by: Cindy | Feb 18, 2008 12:31:32 PM
Great tips Keith!
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Posted by: herefast123 | Oct 31, 2008 12:27:26 AM
Thanks for this. I posted it to The Ranch. Re: Sallie, hopefully your spouse won't be that fickle because your values shouldn't change during marriage.
Posted by: David | Dec 8, 2008 2:31:45 PM
Divorce is expensive! And who needs extra expenses these days?! Learning how to patch up a relationship is so important.
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