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How to Use Any Negotiation Location to Your Advantage

When it comes to negotiating, everyone wants a leg up on the competition. How can we get the best deal for ourselves? There is an abundance of books on achieving an advantage through every conceivable angle in bargaining. One that gets a fair amount of scrutiny is location.

While most experts agree that location can affect the proceedings, not everyone agrees on just how location affects things and what sort of location is best. It seems that different sites offer different advantages and disadvantages. The one you choose may depend on your own skill set.

 

Negotiating at Their Place

While your first instinct might be to avoid playing an away game, there are several reasons why it can be to your advantage. If you feel comfortable with the idea, taking a trip to the other party’s home base can provide you with a few subjective as well as objective advantages.

• Confidence. A willingness to visit the other side’s turf can be a keen demonstration of confidence. Confidence is always a good thing to demonstrate during negotiations and can elicit concessions that otherwise would not have been forthcoming.

• Opportunity. Going to the other side’s place is a chance to demonstrate respect for them. A good negotiation is usually more of a partnership than a battle, and visiting them can set the right tone to achieve that partnership. It also tells the other side that you don’t fear them either.

• Comfort Zone. By allowing the other party to remain in his or her comfort zone, you might make them more amenable to a partnership-based negotiation rather than a more hostile encounter. You may increase the chance of cooperation rather than competition.

• Intelligence gathering. By visiting their site, you afford yourself the opportunity to learn more about them. You might discover what drives them, or where they are weak. Knowledge like that can be an advantage in a critical moment.

• Information. When you go to their place, you deprive them of the excuse that they don’t have certain information on hand. Their files are right there, ready for perusal. It also gives you that same excuse you have just taken away from them.

 

Negotiating on Home Turf

If negotiating on the road can be advantageous, then for the same reasons negotiating at home can give the other party those same advantages. Nevertheless, there are ways to make a home field negotiation work for you.

• Impress. When they come to your home turf, you can put on a display of your strengths. You can show your prowess and influence the way they see you. If they come to the bargaining table properly impressed, you may have an easier time getting concessions from them.

• The Ego Wall. In your office, you can build your own personal Hall of Fame. You can fill it with awards and newspaper clippings and anything else that portrays you in the light you want to convey.

 

Neutral Location Negotiations

A neutral site is often seen as a fair way for both parties to meet in the middle. No one will have the benefit or detriment of a meeting in their own territory. However, even in neutral space, the playing field may not be entirely level.

The site chosen is still likely to be in the orbit of one of the two parties. It can still be a way for one party to be ostentatious about how they do things, or miserly if that is the tactic they have chosen. They can choose a noisy site where communication is difficult, or a place where business negotiations are prohibited. Every choice sends a message of some sort.

 

A Few More Tips for That Extra Advantage

If you can choose the site of the negotiation, you may be able to manipulate things to your advantage. There are a few psychological tricks which studies indicate can be helpful for you at the bargaining table.

• A hot drink. Studies indicate that the temperature of an object we hold in our hand affects the way we perceive the world and other people in it. According to research, when we hold a warm object in our hands, we tend to have “warmer” thoughts about other people. Likewise, a cold object makes us more negative about those around us. If your negotiating partner views you more warmly, you may be able to get better concessions from him or her. The next time you negotiate, you may want to offer the other party a warm beverage.

• A soft surface. Psychologists believe that in our childhood we develop associations with the hardness and softness of objects, and with their smoothness and roughness. Smooth and soft objects are associated with comfort and security, while rough and hard objects the opposite. If you want the other party to drop his or her guard and relax during the negotiations, you might consider providing them with a chair with a soft cushion. Make sure the negotiating table is smooth to the touch. You can combine this with a warm drink for extra effect.

• Seating arrangements. The seating arrangements can have a subtle yet significant effect on how the negotiations turn out. According to some experts, you should arrange the seats based on your strategy. If you plan on establishing a warm rapport with the other party and have a friendly negotiation, it might be better to put the seats closer together. On the other hand, if you want to establish a logical, formal negotiation, it might be better to separate the chairs more. More distance allows for more dispassion and can avoid emotional reactions to objective information.

• The environment. Contrary to what some suppose, an active background with ambient noise and the activity of other people can promote good negotiations. Background activity keeps us alert and aware of the surroundings, which aids in the negotiation process. If your negotiations seem to have reached a stalemate, changing the location might be an emotional cue that gets things going again. If you choose a vibrant background, this can aid your cause even more.

 

Sometimes, even a small advantage can make a big difference. Negotiators are always on the lookout for that small aspect that makes them more competitive as negotiators. Choosing the right location can give you that edge, but be sure you know yourself and your opposing party. Each location comes with drawbacks along with advantages.

Ten Traits of an Ideal Annual Sales Event Speaker

The annual sales event is important for your sales team – maybe even the most important part of the year. It’s an opportunity to accomplish several different things, from boosting morale to developing your team as professionals and even making an operational forecast for the coming year. It’s a social event, as well as an educational opportunity.

The keynote speaker at your annual sales event will be the foundation for a successful event for your organization. The ideal speaker can accomplish everything you set out to do and leave you feeling fulfilled and your sales team eager for success in the coming year. Given this, it is important to put time and consideration into choosing the right speaker. First, consider what is important to accomplish at the event, given your professional goals as well as your sales team’s expectations.

 

  • Focus on the team. There are specific points you will want to cover with your team. For instance, you may want to talk about quotas for the coming year, or forecasts for the industry in general and your team specifically. You may want to give them information on sales growth. It is also a good idea to solicit input from your team. What topics do they want to cover? What information do they feel they need to know or learn better?

 

  • This is an excellent chance to provide ongoing education to your sales team. Are there areas where they might need improvement? Perhaps you just want to give them a good review of policies and practices. Everyone needs refreshers from time to time, and the annual sales event is the perfect time to do it while adding an element of fun and camaraderie to the event.

 

  • Sales is about motivation and drive. Your sales team needs to look forward to their work and be excited about their prospects. A good charge of inspiration at the annual sales event can mean a lot for the coming year. This is a good opportunity to think big, to talk about broad topics like leadership or perseverance. Often, a person outside your organization is the ideal candidate to do this.

 

  • Recognize excellence. Nothing generates excitement like the pride a salesperson takes from getting their due recognition. Your team has worked hard over the course of the year, and now is the time to make sure they know you value their contributions. You can hand out awards, for instance, for achievements. Try to include everyone in some way, and don’t leave the planning for this until the last moment.

 

With these goals in mind, you can begin your search for the ideal keynote speaker for your annual sales event. There are certain traits that indicate the right person, the one who can develop your professionals and motivate them. The one who can uplift them with deserved recognition and prepare them for the coming year. These are ten key traits to look for when choosing the keynote speaker for an annual sales conference.

 

1. They have a strong social media presence. Modern conference speakers engage with a following on social media. The number of followers can be faked, but true audience engagement cannot. Look for a speaker who knows the importance of social media engagement.

 

2. They don’t work for free. They say you get what you pay for, and this usually proves to be true. A gifted speaker is in demand and unless it is for a cause, does not usually choose to donate his or her time for free. A lot of work goes into making a good keynote speech for any type of conference, and a good speaker is going to charge a fee for that.

 

3. They are active on Slideshare. Professional quality slides are a given with an ideal speaker. When a speaker has put in the effort to make slides of quality, they will cultivate a following on Slideshare. Look for engagement there as a sign of a worthwhile speaker.

 

4. They know audio and video. A good speaker will ask you questions about your setup. They will want to know the projector display ratio and whether there is WI-FI available. They will ask about mobile apps for the event. A good speaker is knowledgeable and their questions will demonstrate this to you.

 

5. Their slides are professional quality. The slides are a key component of the speech, and will aid in maintaining audience engagement. If a speaker has poor slides, the audience will lose trust.

 

6. They solicit the audience’s opinion. Every event should poll the audience while it is going on. A good speaker will be familiar with the practice and use it him or herself.

 

7. They know your audience. A good speaker will get to know your audience before the event. This way, he or she can address specific points important to your team and even participate in the recognition portion of the event. The more the speaker tailors the speech to the audience, the more engaged the audience will be.

 

8. They get audience members to interact with each other. When a speaker has electrified the audience, they will engage with each other, not just sit there and passively listen to the speaker.

 

9. They engage with the mobile app of the event. Every event should have a mobile app, and a sign of a good speaker is that he or she engages with that app to make the most of the event.

 

10. Their content is meaningful. A modern speaker knows how to use social media like Twitter, Instagram, and YouTube videos to make their content relevant and accessible before, during and after the show.

 

The right keynote speaker at your annual sales conference can give your sales team a sense of satisfaction in what they have accomplished, give them some professional development and leave them eager for the coming year’s challenges. The event should be a reward and an inspiration. Knowing what to look for in potential keynote speaker candidates is vitally important to choosing the right speaker for your event. Keep these qualities in mind when the time comes to find the right speaker for your annual sales event.

How a Keynote Speech Transforms an Event

The keynote speaker sets the tone of a meeting or event. He or she will usually kick things off with a speech that is longer than most or all other speeches or addresses delivered during the event, such as a weekend conference. The keynote speech will be a broad speech, covering many topics. The other speakers will then dig deeper into one aspect of the keynote speech. Whatever the theme of the conference, the keynote summarizes the ideas that follow and generates excitement for the event.

For people who do not attend the event but still have some interest in the topic, the keynote speech is what they will most likely listen to later. For this reason, the keynote speech can serve as an advertisement for the entire conference. It is quite common, therefore, to get a popular personality or a person of prominence or notoriety to deliver the keynote address.

A keynote speaker is often confused with other kinds of speakers, such as a motivational speaker. However, while a keynote speaker can motivate people, the terms are not synonymous. A keynote speaker is the one who delivers the big picture speech to the audience, who develops the overall theme of an event and creates expectations for what is to come. In whatever manner he or she chooses to do that, whether by motivation, humor, edification or other method, the speech that kicks off the event with the broadest coverage of what is to come is the identifiable keynote speech.

 

What Kind of Keynote Speaker Is the Right Choice?

Some occasions call for a specific kind of keynote speaker due to the type of event, while other occasions lend themselves to a less-specific style of speaker. It all comes down to subject matter, audience and what the goals of the organization are. An event organizer needs to consider what the specific goal of the event is for the organization. There are several possibilities.

  • It could be a scientific symposium or a political event about an important issue. If the main goal of the event is to educate the audience, the speaker will have to have a familiarity with the topic. If the audience is going to consist of experts in the field, the keynote speaker must have impeccable credentials. If it will be a general audience, the keynote speaker will need to be adept at communicating material to a lay audience.

 

  • Motivation is often the goal for sales conferences, or other industry-specific events open to people working in the field. In this case, the keynote speaker will need a flare for oratory. However, it will also be important to set an example. At a sales conference, a motivational keynote speaker should have achieved something notable in the field, or in some way done remarkable things through dedication and effort.

 

  • An inspirational speaker is like a motivational one, and often the same person can deliver both kinds of keynote address. An inspirational speaker often focuses on overcoming the odds. This type of keynote speaker, for instance, might have excelled as an editor despite being dyslexic, or lost his or her legs in combat and has learned to live a fulfilling live despite their setback. An inspirational speaker focuses on a feeling and a lesson, while a motivational speaker focuses on action.

 

  • Promote change. If the goal of an event is to achieve change in behavior or attitude, a keynote speaker who can motivate as well as educate might be the best solution. The purely motivational speaker is often speaking to people who already share a common goal and are just looking for some emotional energy to get them going. An educational speaker is usually addressing an audience that came eager to learn. An organization that seeks change may have to overcome biases and predispositions in the audience, and so a more complex approach is warranted.

 

  • Increase Awareness. If there is an important issue that an organization deals with, the first step on the path to promoting change could be raising the awareness of the general public. An educational speaker may tell an audience of professionals about a new cancer therapy, but a keynote speaker who seeks to increase awareness will speak more about the prevalence and consequences of cancer to a more general audience. If the goal is to increase awareness, expertise in a subject matter may be less important than the high profile of the keynote speaker.

 

  • Promote development. This sort of keynote speech is usually for professionals of a common industry. There should be an element of education as well as motivation. The keynote speaker must have experience in the industry, a recognized leader with many stories to tell and a wealth of wisdom gained from experience. In dynamic, evolving industries the keynote speech may highlight the latest advances and developments in the industry.

 

  • Sometimes the goal is simply to entertain. Rather than giving an overview of a theme or delivering the essence of a conference, the keynote speech is more about setting the right mood. The event may not have a single topic and thus there is no core theme to sketch during the speech. The event organizers simply want to make sure the audience enjoys themselves. The keynote speaker should have a gift for connecting with an audience. A proficiency in humor is also important for such a speaker.

 

There are many ways to deliver a keynote speech. One should consider the audience and the subject matter when determining the tone and approach of the speech. Smaller conferences might have more specialists in a field and therefore the keynote speech can reflect this with more in-depth coverage. For a large audience or a lay audience, humor may work better.

The keynote address could be the most important part of a rally, meeting or conference. It is important to choose the right person who knows the subject matter but can also bring a higher profile to the proceedings.

The keynote speaker needs to understand the size and composition of the audience to fashion the appropriate speech for the occasion, and he or she must also understand the tone the organizers of the conference wish to imbue to the occasion. The success of a conference often hinges on the effectiveness of the keynote speaker; getting the keynote address right is a large part of the battle.

What Is BATNA?

Sometimes, the worst scenario occurs: a negotiation breaks down and an agreement may fall apart between the parties involved. When all else fails, having a prepared BATNA is essential in keeping the negotiation from shutting down and a last resort at resolving conflict. If a salesperson is careful enough, they can still have control of the deal.

Definition of BATNA

You might be wondering, what is BATNA? BATNA is the acronym for Best Alternative to a Negotiated Agreement. According to the Business Dictionary, BATNA is defined as “a term used by negotiators to describe options available to their side if negotiations fail.” The entry continues and points out that, “negotiators who have a strong, well-defined BATNA have an advantage because they have a clear benchmark to which they can compare any negotiated settlement.”

 

Importance of BATNA in Negotiation

Before you even schedule a business meeting or agree to see your negotiating partner, you should have a BATNA in mind. Preparing a BATNA ahead of the meeting yields numerous rewards for you, such as:

  • Giving you an alternative when the negotiations fall through
  • Giving you negotiation power over your negotiation partner
  • Considering the lowest point that you are willing to offer

In contrast, by having a weak BATNA or no BATNA at all, your partner can take advantage of your flaws, it will reduce your bargaining options, and will leave you in agreement for something lower in value than what you expected.

 

Know Your Partner’s BATNA

As you develop your BATNA, it is just as important to learn as much of your partner’s BATNA as possible. For one, it will leave you less vulnerable in case your partner is just as savvy as you. Also, you need to figure out your partner’s business needs and position in order to meet them. If you can understand what your partner wants, you will come up with a deal that will benefit both parties involved.

In general, to create the ideal BATNA, assess your business needs and make of a list of everything you would do to meet a solution with the negotiating partner. Then, pick the lowest option that is only better than not working with the partner at all. The most balanced approach is to meet the Zone of Possible Agreement (ZOPA), which is the compromise range that lies between the highest amount a buyer will pay and the lowest a seller will go for before both parties walk away.

 

Approaching BATNA

Once you have your BATNA set, proceed with the negotiations. If you and your partner come to an agreement immediately, then the bargaining went well and there is no need to reach that next stage. If the conflict escalates to the point of ending the negotiation, then offer your BATNA. However, when you set up the BATNA, make the impression that you are ready to get up and leave if the other party doesn’t consider it. This action communicates to your partner that they are acting like an opponent, and that you are better off not doing any business with them. In addition, you can avoid the other party taking advantage of you and forcing you to settle for less, or no deal.

At the same time, ensure that both of you ultimately reach a mutually beneficial result. Every time you agree to a concession, ask one for yourself as well. Ultimately, negotiations are about maintaining a power balance between the involved parties when reaching an agreement. If you remain both insistent in your bargaining and fair when reaching out to the other negotiator, it will boost your reputation as a negotiator and potentially bring further business to you.

 

Examples of BATNA

Though BATNA is a last resort when it comes to negotiation, it manifests in plenty of scenarios where any amount of negotiation is present. The following are examples of how BATNA operates in different negotiation scenarios:

  • Customer needs. A customer needs a product that has no alternative, and his BATNA is to live with it, while the salesperson can offer the product for a discount, but nothing lower than that.
  • Customer preference. A salesperson can tell a customer prefers their products to the competition. The customer’s BATNA is choosing the competition, while the salesperson will hope to complete the deal with a discount.
  • Sales target. A customer notices that a salesperson has not hit a sales target. The salesperson’s BATNA is missing their sales quota. The customer is willing to persuade the salesperson for some discounts, so the salesperson can close the deal and meet the target.
  • The employer knows that the economy is in danger and jobs are hard to find. The employer has the negotiating power, since the candidates have no other options besides unemployment.
  • In the reverse of the employment scenario, an employee is talented and in high demand, while the employer needs the employee’s talent for their business and has much to lose if the negotiation fails. Therefore, the candidate can demand more, and the employer’s best interest is to accommodate.
  • A customer in the process of buying a product declares a specific brand superior to the others. His or her BATNA is to end up buying an inferior brand instead, which motivates them to buy. However, the customer may use bluffing to hide their interest and deal with the salesperson.
  • A product is in short supply because the industry cannot keep up with the high demand. The customers have the BATNA of not buying a product at all or to cut back, while the manufacturer is able to offer the highest price available.

 

Improve Your Negotiation Skills

Despite the importance of having a best alternative to your negotiating agreement ready for every negotiation, it is always best to avoid that situation in the first place. Shapiro Negotiations’ training course can prepare you to become a better negotiator. The course is available in different methods, from classroom and virtual training, to keynotes and consulting, and will bring you benefits such as developing better business partnerships and increasing confidence and results in negotiations. Contact us for more information and improve your negotiation skills today.

What Is Sales Prospecting? A Prospecting Definition and Some Tips

You’ll find the process of sales prospecting at every successful business. Prospecting involves an excavation, or a hunt for qualified leads, as well as efforts to convert them into customers. Learning the prospecting definition is only the first step toward creating opportunities for sales. The next is acquiring prospecting skills that will turn your leads into loyal, lifelong customers. Achieve more fruitful sales prospecting with these tips.

 

Prospecting Definition

Prospecting traditionally referred to the search for minerals, such as gold. As a business term, the idea remains the same: to strike “gold” in a warm sales lead. The Oxford English dictionary gives the prospecting definition of, “the possibility or likelihood of a future event occurring, or a person regarded as a potential customer.” The Business Dictionary defines a prospect as a, “potential customer qualified on the basis of his/her buying authority, financial capacity, and willingness to buy.”

In essence, sales prospecting is the act of sales reps reaching out to leads in the hope of creating sales opportunities. Prospecting can refer to marketing tactics, cold calls, email campaigns, and other ways to nurture leads. Prospecting in particular refers to reps contacting leads who have gone cold, or who have lost connection with the brand. It also encompasses researching leads and categorizing them based on their likelihood to convert.

Prospecting is a very important sales process, as it is typically the first step in the sales funnel. It involves identifying potential customers, developing a database of prospects, and then communicating with leads with the goal of converting them into customers. It can be a difficult process if a salesperson does not know what to expect or how to do it effectively.

 

What Does Sales Prospecting Look Like?

Sales prospecting secures leads and moves them through the sales funnel, until they convert into customers. A lead will become a prospect if something qualifies him or her as a potential customer. This could mean that the lead fulfills the persona of the target buyer, or that the lead has already expressed interest in the brand (clicked on the website, came to a landing page, etc.). Once the lead becomes a prospect, the real work begins. Here are the basic steps for high-converting sales prospecting:

 

1. Salespeople should know their prospects. They should conduct as much research as possible into the prospect and his or her buying habits. The goal should be to determine the quality of the lead. Come up with a set of criteria to assess the probability of the person buying. Most companies use customer relationship management (CRM) software to keep track of leads and prospects.

2. Once the salesperson has done his or her homework, it’s time to connect with the lead. Making a connect could come from a phone call, an email blast, or a personal connection. The goal of the first connect is generally to schedule a follow-up sales meeting.

3. At this stage, the rep should evaluate the prospect’s unique needs and aim to fulfill them. The salesperson should identify needs and potential objections, and prepare arguments for the service or product. The salesperson’s job is to continue moving the prospect through the sales funnel.

4. Follow-up. The follow-up connection should be the deal-closer. It is the meeting in which the salesperson puts the prospect’s fears to rest, fulfills a need, answers questions, and sets the lead up for conversion. The salesperson should make it as easy as possible for the lead to turn into a revenue-generating customer.

5. The final step in successful sales prospecting is closing the sale. A salesperson can turn to many different techniques to close a sale and convert a prospect into a customer. Closing is one of the most difficult steps in sales prospecting. It is also one of the most important skills a salesperson can master.

 

Sales prospecting generally refers to the first few steps of researching and acquiring qualified leads, as well as the initial connection. However, it can encompass every step of the sales funnel or buyer journey, until the prospect becomes a loyal customer. Like everything in business, practice makes perfect. There are proven techniques and best practices that can increase the success rate of sales prospecting in all industries. Becoming a Master Prospector takes time, training, and commitment.

 

Tips for Striking Gold While Sales Prospecting

Sales prospecting isn’t optional. It is necessary if a company wishes to grow its bottom line. Digging for new customers doesn’t have to mean reinventing the wheel. Sales reps can look at pioneers before them for proven ways to master prospecting. The following are a few tips and tricks from seasoned sales professionals:

 

  • Put in the time. Too many salespeople rush prospecting, failing to conduct proper research to discover the qualification of the lead. Setting aside time for prospecting each week can keep the pipeline full.
  • Know your personas. It may seem obvious, but knowing the buyer personas is critical for successful prospecting. Salespeople should know their ideal buyers in and out, and be able to spot them immediately.
  • Prioritize prospects. A sales rep should dedicate the majority of his or her time to the most qualified leads. Qualifying factors should group leads into categories based on their likelihood to convert. Software is available to do this automatically.
  • Personalize connections. Connecting with a prospect is much more likely to lead to a follow-up appointment if the initial message is personal. Reference a specific issue the prospect has, or mention another relevant tidbit about the person. Connect with the prospect on a personal, human level, aiming to help instead of to sell.
  • Use technology. Social media, CRM software, marketing automation, Google Alerts…there are plenty of technological solutions available to make sales prospecting easier and more effective. Use the technology at your disposal to become an efficient converting machine.

 

Being a skilled prospector is one of the most important techniques a salesperson can master. Find a mentor to teach your team the best tools and habits for success. Join the Corporate Sales Training course at SNI to discover a proven, systematic approach to maximize the effectiveness of salespeople. You and your sales reps will learn how to optimize sales prospecting, find and evaluate qualified leads, and close more sales. Sign up today.

7 Things That Must Go in a Cold Call Script

Cold calling is not dead. In fact, 78% of consumers in a 2018 poll took an appointment or attended an event they learned about through a cold call. When done right, cold calling can be more effective than other types of marketing efforts.

To achieve success with this sales tactic, however, your reps must be prepared with a flawless cold call script. The strength and effectiveness of a cold call script template can determine whether the seller will clinch a sale or annoy the consumer. Insert the following seven things in your company’s cold call script for maximum persuasive power.

 

1. A Strong Introduction

The way a salesperson opens a cold call to a prospect is key. A cold call script must start with an excellent opener. Opening with a boring statement, a mumbled greeting, or too many questions can immediately turn a prospect off and stop the conversation in its tracks. The salesperson should come off confident, friendly, and positive to warm up the cold call. He or she shouldn’t rush the introduction. Instead, the seller should take his/her time saying, “Hello, I’m [Name] from [Company].” A simple but clear introduction can start the conversation on the right foot.

Make sure your company’s script template starts with a concise but positive introduction, followed by something light and conversational, ideally with personal details about the prospect’s life. A simple, “How are you?” can multiply the odds of success by 3.4. Do not start immediately with a bunch of questions. This can make the call feel like an interrogation, and put the prospect on the defensive. Instead, your salespeople should take their time and avoid sounding pushy. They only have a few seconds to form a first impression, so they should start with a concise pitch.

 

2. Personalized Connections

Although cold calling is about selling a product over the phone, the best way to seal the deal is by starting a conversation. Make the call more about a connection than about prospecting. Studies show that the longer a salesperson can keep a prospect on the phone, the higher the odds are of a sale. Striking up a conversation with the recipient can increase call duration and create a back-and-forth dialogue that can help the seller succeed. Instead of making the cold call feel like an interrogation or a preloaded list of questions, sellers should insert personalized details into the cold call script, such as:

  • Where the prospect went to college
  • The prospect’s home sports team
  • What the prospect does for a living
  • A fun fact about the seller
  • How the seller has helped similar prospects or companies

Get this information from your company’s research prior to making the calls. Your team should have identified the best prospects for the product, and spent time researching any available information about each person. This should give your reps plenty of talking points that sound personal, friendly, and conversational. Your sellers should open the prospect up to the idea of chatting, rather than making the call about sales alone.

 

3. Good Questions

The questions a salesperson asks during the call can make all the difference. For this marketing practice to work, the seller must know exactly what questions to ask, and when to ask them. One study on cold calling analyzed 519,000 calls to draw connections between the script template and the effectiveness of the call. The study found that the ideal number of questions to ask during a discovery call is 11 to 14. Asking more or less than this range drops the effectiveness of the call equally. The best questions during a cold call are leading:

  • What’s it like living next to/in [insert city or landmark]?
  • What are your top [insert industry] priorities right now?
  • What would make you more likely to switch companies?
  • What concerns do you have about switching?
  • How can we best serve you?

These questions encourage conversation, rather than allowing the prospect to simply answer yes or no. Furthermore, good salespeople spread questions evenly throughout the conversation. This maintains a more positive pace throughout the conversation, rather than several questions frontloaded at the start of the call. Your sales reps should think about the call like a tennis match, with a lot of back and forth. The right questions can lead to a more naturally flowing conversation.

 

4. Collaborative Words

Prospects prefer to talk about themselves rather than hear about the salesperson. The same study of 519,000 cold calls found that using collaborative words, rather than “I,” increased success rates by 35%. Similarly, the number of “our” vs. “my” in the analyzed calls was 55% higher in successful calls than unsuccessful ones. According to another analysis of over 500,000 sales calls, top sellers were 10 times more likely to use collaborative language than low-performing ones.

Collaborative language is more inclusive. This gives the prospect the impression that the seller is part of something bigger, rather than on his or her own. The impression of a company supporting the seller’s promises can foster greater trust in the salesperson. Collaborative language also serves to include the prospect in the conversation, rather than isolating the seller and creating separation.

 

5. Solutions for Common Objections

Every good cold call script must include go-to answers or solutions for common prospect objections. Around 35% of salespeople say overcoming price objections is the biggest challenge they face. Preparing for objections and having proven handling techniques ready could save an otherwise doomed cold call. A few tips include:

  • Pausing for at least a few seconds after an objection.
  • Continuing to talk at the same slow, back-and-forth pace as before.
  • Clarifying the prospect’s concerns with questions.
  • Confirming that you’re both on the same page.
  • Connecting with a fellow salesperson or manager for a team sales strategy.

In answering an objection, a salesperson should use the most effective language possible. This means using the strongest words to get a point across. Words like “imagine,” “successful,” “fair,” and other decisive language can help restore confidence in the seller and bring the conversation back to a light and positive place. Giving your salespeople a cold call script with best practices for answering common objections already built in can help them increase the duration of calls.

 

6. A Strong Closer

Making sales is all about the closer. Successful prospecting is all about planting seeds and getting follow-ups. The best cold call script templates stress the importance of the salesperson’s closing statements. A seller should always have more reasons for a person to buy than the number of objections. Closers should be persistent, and can be more straightforward than the rest of the conversation. It is the rep’s chance to ask the buyer one more time, or to circle back to the sale after receiving a no.

Closers are also the most appropriate place to insert discussions about price. Since price is one of the most common prospect objections, introducing price at the end of the conversation can reduce the odds of the buyer rejecting the offer. Your salespeople should give the price of the product or service as close to the end of the conversation as possible to avoid objections. At this point, the prospect is already more likely to buy. Tie the prospect’s financial goals to the closing statements. Position the product or service as the solution. The goal of the closer should be to either close the deal or get a follow-up.

 

7. Conviction from Beginning to End

Although not necessarily something in the cold call script, it is important for salespeople to use conviction during cold calls. Nothing convinces like conviction. Words that inspire confidence can help close sales. The most successful cold callers use affirmative, confident terms throughout the call, such as “absolutely,” “definitely,” and “certainly.” These words show a prospect the seller knows what he or she is talking about, and is willing to guarantee the truth behind his/her words. Conviction from start to finish during a cold call conversation can make the prospect trust the seller, and be more willing to give them his/her business.

Good sellers often practice cold calling by recording themselves speaking out loud. That way, they can hear whether their voices come off with enough strength, confidence, and conviction. A good script template is important, but delivery is where the magic happens. Sales reps must deliver scripts with confidence for them to be effective. Believing in the product or service and being extremely knowledgeable about it can help a salesperson achieve a strong tone of conviction.

 

Improve Cold Call Scripts, Increase Your Bottom Line

Cold calling does not have to be uncomfortable or pushy. It can be warm, friendly, inviting, and effective with the right script. Cold calling may be one of the most difficult marketing techniques to perfect, but the results can be worth the effort. Your team’s success depends on the tools you give them for closing sales. Excellent sales training can help a team of cold callers achieve better results from their efforts.

Shapiro Negotiations knows how to get real, measurable results from cold calling. Our corporate sales training program teaches top-converting tools, habits, and processes for optimal sales success. One of the modules in this program focuses specifically on how to overcome potential customer objections with confidence. Learn new tips and tricks for cold calling, build trust more quickly with prospects, and increase your bottom line.

 

New Sales Tips and Trends for 2019

As a salesperson, you always want to improve your sales techniques, volume, and practices. There’s always room for improvement in the fast-paced sales world. Our experts at Shapiro Negotiation designed our Corporate Sales Training Program to equip you with cutting-edge tools, habits, and techniques to increase your sales efficiency. Using our six-step approach to sales techniques, you’ll be able to close deals and sniff out prospects in an effective manner.

Here are a few tips that you can utilize to improve your sales efficiency today.

 

Keep Track of Prospects

Prospecting is a mindset and a practice that should be applied everywhere you go. Always think about where your next sale is or who your next lead will be when going about your daily sales operations. In addition, keep track of your best prospecting practices for reference.

Keeping a running document of prospecting tips can help you perform at peak efficiency. Record your best opening lines from emails, cold calling scripts, and LinkedIn practices that have won clients over. Refer to this document and keep adding to it to create a comprehensive prospect guide.

 

Know How to Qualify a Lead

Lead qualification is an important skill that all salespeople should master. This process helps you determine how to approach a potential client with your sales pitch. Knowing what their needs are can help you connect a potential lead with your company’s goods and services.

Always analyze the following key factors to determine if you should pursue a lead:

  • Budget: Can the lead afford your product?
  • Need: Does the lead have a need for your product and how can your product satisfy that need?
  • Interest: Has the lead expressed interest in a similar product before?
  • Role: Does the contact person for that lead have the authority to purchase your product? If not, can you reach the person with that authority?
  • Timing: Does the lead need your product within a certain timeframe? Can you and your company satisfy that time frame?

 

Prepare Questions

You want your leads to feel connected to you and your company. This will encourage them to purchase your product. To establish credibility with your potential client, make sure to adequately research and prepare materials before meeting with them.

A great way to establish a relationship with your client is to ask them engaging questions. What is their current experience without your product like? How can you help solve their problems? What do they wish they could have to make their job easier? All of these questions create a connection between you and your client. In addition, good preparation signals to the client that you care about their experience with your company.

 

Provide Options and a Safety Net

Presenting your potential client with one product option can put a lot of pressure on the client. They might become hesitant and refrain from committing to a purchase. To alleviate this risk, make sure to present your client with at least three product options so they feel in control of the sales situation.

In addition, you should also provide a safety net in case they don’t enjoy your product. This could be a free trial, a money back guarantee, or a product pilot. These techniques will ease your client into a sense of security when it’s time to close the deal.

 

Focus on Trustworthiness

A client will not commit to a purchase if they don’t trust you. It is up to you as the salesperson to build a trustworthy rapport with the client by integrating credibility, integrity, and reliability into your sales calls.

Before your meeting, research beforehand and make sure you prepare questions and sales points. This signals to the client that you are credible and knowledgeable. Always keep your client’s best interest in mind when negotiating a deal. In addition, always deliver what you say you’re going to deliver. In fact, you should over-deliver whenever possible. These actions combined will allow a client to feel at ease and develop a sense of trust.

 

Interested in gaining in-depth knowledge and interactive practice with these sales techniques? Shapiro Negotiation’s Corporate Sales Training Program uses this curriculum to provide sales professionals with the habits, tools, and practices they need for optimal sales success. Our workshops offer an integrated and systematic approach and expert design to the corporate sales world.

Contact Shapiro Negotiations to schedule a training session for your team today.

Why Am I Not Hitting My Sales Goals? Here Are 10 Possible Ways to Hit My Goals

If you are a leader of a corporate sales team, you are constantly searching for ways to boost sales volume and flow. Effectively marketing products and services to potential clients is more difficult than it seems – a fact that you and your team know well. The key to effective sales goal attainment lies in strong leadership, close communication, and personal motivation.

How do you implement measures to encourage these factors among your sales team and achieve your target sales? There are certain behaviors and initiatives that you can begin practicing around the office. By encouraging team building, knowledge, and positivity, your team will have the tools and confidence they need to enter difficult sales situations.

 

1. Set Clear Goals

Your sales reps need to know the exact set of goals they need to attain in order to reach peak sales performance. They need to know the number of leads they must obtain, the prospects they need to contact, and the total revenue the company wants to bring in. Often, corporate operations unintentionally shroud these goals from salespeople on the ground.

Keeping the details of your sales goals a mystery isn’t useful for your sales team. Communicate your goals clearly and regularly to your team. Send out an email with the goal for that week to everyone on the team. Write each week’s goal on a whiteboard and display it in the office. Encourage your team to ask questions about the sales goals if they need clarification. This practice encourages open communication between higher ups and the people who drive sales volume.

 

2. Take Advantage of Technology

In today’s modern world, we’re constantly connected to vast amounts of data at our fingertips. Why don’t we take advantage of this technology to drive our sales volume? When your salespeople are out in the field, they may need to contact another sales rep or look up information on a product.

Developing an app that lists product specifications can help your salespeople have instant access to product knowledge, boosting your company’s credibility among your consumer base. Consider using a Customer Relationship Management (CRM) platform to further connect your salespeople to their potential clients.

 

3. Encourage Mentorship

When new salespeople join your team, they are at a disadvantage when compared to your more senior sales reps. A seniority divide can alienate your younger sales reps and decrease their confidence in the field, which can hurt your sales goal attainment. Instead of encouraging competition between your older and younger salespeople, encourage mentorship between the two groups.

You can formally pair a new salesperson with a more senior level employee to help orient them to your company. The older employee can discuss their experience in the position and offer coaching for the new rep’s first sales call or field day. When every team member is on the same level of achievement, the whole company will succeed.

 

4. Fail as a Team

It’s easy to place blame on an individual salesperson for the loss of a contract or important lead. However, public shaming can alienate that rep, further weakening your company’s potential for sales goal attainment. Avoid singling out any weak links and encourage your team to examine the failure as a team effort.

If a salesperson believes that he or she is to blame for a sales goal failure, this could lead them to focus only on their individual performance. This leads to less focus on strengthening the team as a whole. You want to develop a team mindset. Always examine failures as a team effort – and make sure to celebrate your successes as a team as well.

 

5. Celebrate Accomplishments

While you should focus on team interactions to encourage sales team growth, you shouldn’t shy away from rewarding individuals who deserve it. Don’t be afraid to congratulate a colleague for landing a major deal or for increasing the team’s sales volume by 5%. Not only will this leave that salesperson with pride, they will be excited to continue contributing to the team effort. In addition, your other salespeople will want to work at peak performance so that they can receive recognition as well.

However, always treat the success of an individual as a success for the team as well. This helps you practice individual praise with team building.

 

6. Listen to Feedback

The best leaders understand that they can always improve. Feedback is a crucial part of figuring out if your leadership and team management style is effective for your salespeople. If you’re doing something that isn’t helpful, you’ll want to catch it before it affects your sales goals.

To combat this, consider administering a monthly or quarterly survey to collect employee feedback. Ask questions about the workplace environment, about specific practices and trainings, and what you could do to improve the quality of their job experience. You should keep this survey anonymous for optimal honesty. Review survey responses carefully and incorporate changes into your daily leadership practice.

 

7. Avoid Internal Competition

Similar to pitting older and younger salespeople against each other, you should always avoid internal competition among your team. It has been a common practice to split a sales team into factions and encourage each faction to beat the others in sales volume. This is not an effective way to encourage long-term sales goal attainment.

Always emphasize teamwork and collaboration within your sales team. Friendly internal competition can take place against other departments, but save any inter-team conflict for the company picnic.

 

8. Utilize Your Company’s Mission

Your sales team wants to feel like they’re part of attaining a larger goal or ultimate mission through their work. Working with a purpose will make reaching target sales feel like even more of an accomplishment. In addition, your sales team will become more motivated to reach sales goals.

To encourage this, share your company’s mission statement with your sales team. Have a discussion on what the mission means for your team. Identify what actions you can take to turn the mission into reality. Try to incorporate aspects of the mission statement into your sales goals, meetings, and training sessions. This will create the sense of working towards a larger goal and motivate your reps.

 

9. Track Sales Performance

You should implement a system that tracks your team’s sales performance throughout the overall sales cycle and allows you to target areas of improvement. While this may seem like an obvious action, you should always monitor your team’s actual sales performance. Many team leaders neglect regular performance analysis in the hustle and bustle of the corporate world. Set aside time every day to review your team’s performance and identify improvement actions for specific members. Remember not to single out or publicly share failures of individual sales representatives.

 

10. Provide Creative Incentives

Don’t be afraid to inject some fun into the workplace. Many effective team leaders encourage their sales reps to attain their sales goals by implementing an interesting team incentive. These incentives can be as simple as buying donuts and coffee for the office on Friday to hosting an outing to a sports game. These rewards will encourage your sales team to work even harder towards their sales goals.

If you want to get a bit more unusual, some team leaders even pledge to shave their heads, wear a fun costume, or allow their employees to throw pies in their face when they achieve a sales goal. Remember to keep these incentives appropriate for the workplace, but don’t be afraid to think outside the box. Stay professional and have fun!

 

Do you want to help your team meet their sales goals using an expertly designed training program? Contact Shapiro Negotiations to inquire about our corporate sales training sessions today.

We offer integrated and systematic approaches to sales that will help boost your team’s confidence, lead procurement, and sales volume. Shapiro Negotiations will provide your company with the habits, tools, and processes necessary for greater sales success.

 

 

Forbes Coaches Council Welcomes SNI’s Managing Partner

We are proud to announce SNI’s Managing Partner, Andres Lares, is now a member of the Forbes Coaches Council. Andres brings a cutting-edge approach to SNI by investing in new initiatives such as interactive online training and virtual reality-based negotiation simulations. His approach exemplifies SNI pursuit to innovate and couples very well with our philosophy around customized and interactive learning being the best way to instill significant lasting behavior change in adult learners.

Andres is responsible for the day to day operations of SNI and serves as a negotiation trainer and coach around the world with an emphasis on professional sports teams and startups.

Additionally, Andres teaches a course on Negotiation at Johns Hopkins University and recently finished a being a Bowe Fellow, a yearlong global business leadership program within the World Trade Center Institute in Baltimore.

To read his full Forbes Coaches Council profile, click here.

Congrats, Andres!

The Importance of Product Knowledge in Sales and Negotiation

 

Product knowledge is a crucial skill that all effective salespeople need to master. In order to successfully market a product or service, a salesperson must deliver the specifications of that product or service with intelligence and confidence. In order to bring salespeople up to speed with the latest company offerings, management and team leaders engage in product knowledge training sessions.

How can team leaders administer these training sessions effectively, boost retail credibility, and maintain high employee engagement? There are a few types of educational techniques that training administrators can incorporate into their product knowledge sessions. Using interactive activities, humanizing the customer, and collecting feedback are all effective tools to use in this type of training.

 

Hands-On Activities

A person can’t become skilled at something without learning and practicing it several times beforehand. Product knowledge training sessions should incorporate interactive, hands-on activities to encourage this practice. In addition, these activities help break up the monotony of lectures and PowerPoint slides. Incorporating roleplaying activities, simulations, games, and other techniques can provide opportunities for salespeople to test their product knowledge.

For example, a training leader can develop a speed game where a product’s picture is shown on a screen and employees compete to identify the product and list its specifications. Leaders can also pair salespeople together in roleplaying scenarios, in which one person is selling a product to the other. During role play, the salesperson can discuss the specifications of that product. This helps ingrain product knowledge into the brain during the learning process.

 

Define Customer Needs

Customers are more inclined to purchase a product they believe they need. Salespeople should connect the specifications of different products to the customer needs they could satisfy. Connecting each product to a need or set of needs can help with the memorization process. In addition, including these topics in your training will allow for smoother sales presentations during real world situations.

 

Consult With Marketing

Marketing professionals know the specifications of products better than most people in an office. This is because the entire field of marketing involves being able to highlight a product’s benefits and connecting those benefits to customers’ needs. It’s likely that the marketing department of the company has product knowledge materials that they can share with the sales team. These experts can help sales team leaders administer effective product knowledge training using these materials. Check with marketing before creating training materials to save time and generate ideas.

 

Provide Refresher Training

Even the most seasoned sales professionals will forget details about a product. Sometimes, these details could provide opportunities for effective sales pitches. In order to revive this information, as well as introduce new products, team leaders should hold refresher training at least once per year. This will help bring all salespeople to the same page in terms of selling current product.

 

Listen to Feedback

Every training session can improve for optimal education. After each training session they administer, sales team leaders should distribute an anonymous survey for participants to fill out. This survey can be online, on paper, or through another data collection system. With the results of these surveys, team leaders can identify areas of the session that worked and others that need improvement. This presents an opportunity to make the next training session even better.

 

To learn more about corporate sales training for your company’s team, visit Shapiro Negotiations today. We offer integrated and systematic sales training options to optimize your sales power, approach, and customer engagement to their highest potential.

Contact us today to schedule a training session for your company or team.