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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

Sales Knowledge

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.

 

What Are the 5 Negotiation Styles?

People have different communication styles. Individuals bring sets of experiences, skills, and tools that affect the way they interact with others, both at home and in the workplace. Individual communication styles also translate into how they negotiate. From these patterns of communication, five distinct negotiation styles have emerged: competing, collaborating, compromising, accommodating, and avoiding.

Negotiators often fall into one or more of these five styles whether they are trying to reach an agreement or resolve a conflict with multiple parties. Master negotiators know how to use their primary negotiation style to their advantage and when it’s beneficial to introduce the others. Read on to learn about the common characteristics of the five negotiation styles, their strengths, and their weaknesses.

 

Negotiation Style: Compete

A competitive negotiation style follows the model of “I win, you lose.” Competitive negotiators tend to do whatever it takes to reach their desired agreement – even when it comes at the expense of another person or entity. They are results-oriented and focused on achieving short-term goals quickly. Their desire for success motivates them, though the process of negotiation can blind them to potentially harmful impacts.

Competitive negotiators use all tools possible to boost their negotiation success, including:

  • Their position within a company structure
  • Their personality and humor
  • Aggression
  • Their economic prowess
  • Their company’s strength and size
  • Their brand’s visibility and influence

A competitive negotiation style is beneficial when you need to reach a short-term agreement quickly. If the terms of an agreement are critical and must be complied with, a competitive negotiator will be your secret weapon. If the second negotiator is also competitive, having another competitive negotiator on your team will be able to counter-balance their aggression.

Competitive negotiators work best in a highly competitive industry or for once-off sales, such as selling a home or a car. However, for negotiations with another highly competitive body, it is best to blend negotiation styles to avoid gridlock between two competitive negotiators.

These types of negotiators may focus more on winning than reaching a mutually beneficial agreement with the other party. Business relationships might break, and a company’s reputation may tarnish if a negotiation style is too competitive and crosses the line into bullying.

If you are a competitive negotiator, make sure to blend your style with a bit of accommodation or collaboration. Invite a partner to balance out your natural competitive streak. Business is as much about building strong relationships as it is about closing deals!

 

Negotiation Style: Collaborate

In contrast, a collaborative negotiation style follows the “I win, you win” model. Collaborative negotiators focus on making sure all parties have their needs met in an agreement. They value strengthening, establishing, and building relationships without compromising their company’s best interests.

Collaborative negotiators often evolve into this negotiation style from another. As time goes on and a negotiator gains confidence in reaching agreements, they become more comfortable advocating for their needs. They also become skilled in finding a mutually beneficial balance between their needs and the other party’s.

Individuals with a collaborative negotiation style are willing to invest time in finding innovative solutions and building business partnerships with other organizations. Other negotiation styles are often too impatient to invest this time, but collaborative negotiators are confident that they will benefit in the end.

A collaborative negotiation style is effective in most business negotiations. Collaborating with competitive negotiators is something to be wary of, however; since this negotiation style focuses on winning the most for their company, they might not be interested in developing a collaborative relationship. As a result, the more collaborative company can lose out – so be careful and always keep track of the agreement’s value.

 

Negotiation Style: Compromise

Many students of negotiation styles confuse the collaborative style with the compromising one. Unlike the “win-win” collaborative style, the compromising negotiation style follows a “I win/lose some, you win/lose some” model. When reaching the terms of the agreement, compromisers often relinquish some terms in favor of gaining others.

For example, if two governments are trying to reach a trade agreement, a compromiser might give the other government greater access to their country’s dairy market to gain protections for digital media trade. Simply put, a compromising negotiation style is a form of bargaining. Compromisers split the agreement’s value between the two parties versus finding a solution so that everyone benefits from an agreement’s full value. A competitive negotiator can easily take advantage of a compromising negotiator.

A compromising negotiation style is most useful in situations where the opposite party is trustworthy, and the agreement is under a tight deadline. However, compromising will cause your company to lose out on collaborative partnerships and innovative solutions.

 

Negotiation Style: Avoid

An avoiding negotiation style follows a “I lose, you lose” model. People who identify with the avoiding negotiation style highly dislike conflict and tend to talk in vague terms about the issue at hand rather than the issue itself. If an agreement is reached and an avoiding negotiator dislikes the outcome, they may try to take revenge on the opposite party before the party even knows that they were unhappy with the agreement.

Since avoiders dislike conflict and struggle with direct communication, they come off as passive-aggressive. This can cause rifts in interpersonal business relationships. Avoidance is a typical reaction when a negotiator is pitted against someone who is highly competitive. Avoiding negotiation styles work best in situations where the negotiation concerns a matter that is trivial to both parties. In conflict resolution, avoiding negotiators work best in situations where the investment of time to resolve the issue outweighs the outcome of the discussion.

 

Negotiation Style: Accommodate

An accommodating negotiating style follows the “I lose, you win” model – which does not seem to be in a negotiator’s best interest. Accommodating negotiators are the direct opposite of competitive negotiators. They focus on preserving relationships and building a friendly rapport by sacrificing some of their company’s interests in favor of the opposite party’s interests.

Accommodators tend to try to win people over by giving in to their requests. They tend to share more information than they should. They are often well-liked by their colleagues because of their kindness – but kindness doesn’t work in every negotiation situation. Accommodating negotiation styles work best in situations where your company has caused harm to another and needs to repair a significant relationship. These negotiators are skilled at peacemaking between different bodies.

However, don’t send a pure accommodator alone to a negotiation with a competitive body. They can easily be taken advantage of. An accommodating style can easily turn into a collaborative style with proper training and teamwork.

 

Which negotiation style describes your negotiation practices the best? Do you tend to compete, collaborate, compromise, accommodate, or avoid? Or do you practice a mixture of negotiation styles, expertly bringing in competition or accommodation to fit the environment? To learn more about how to use your negotiation style to your advantage, visit Shapiro Negotiations today to schedule a negotiation training session.

What Is Organizational Selling?

Multiple forms of sales take place every day in the corporate world. From B2B to B2C, a wide range of structures exists to diversify the market and provide the best goods to consumers. One of the most complex forms of sales is known as organizational selling. With organization selling comes a set of standards and guidelines to which salespeople must adhere to establish trust and credibility with their clients.

 

 

The Definition of Organizational Selling

Organizational selling is defined as a business selling to another business. This seems simple enough, but organizational selling follows a different set of rules than selling a product to a single person. Just like their customers, organizations and businesses require certain products to keep their operations running smoothly. From shipping and packing supplies to raw materials like wood and steel, these organizations need to purchase goods from an outside source if they don’t produce them.

Driven by customer demand to produce goods, organizations purchase products in greater quantities than private consumers. As a result, organizational selling often deals with bulk purchases and their order costs tend to be much higher than what an individual would purchase. In addition, organizations must adhere to certain guidelines regarding the products they use. A certain type or quality of wood, a certain grade of steel, even packing boxes must adhere to organizational policies and consumer protection laws.

Sometimes, governmental standards under the Occupational Safety and Health Administration (OSHA) are also applicable. For example, if your company manufactures no-slip shoes and steel-toed boots, another organization that wants to supply its employees with these shoes would likely ask if your product is OSHA-approved.

When organizations look to purchase goods, they are looking for products that would provide the greatest value for their businesses and meet certain quality and safety guidelines. This makes their purchasing habits unique from individual consumers.

 

Why Is Organizational Selling Important?

Knowing how organizations and businesses purchase goods is the key to marketing those goods effectively. The purchasing habits of these businesses can easily translate to common sales practices such as pitching and cold calling. Organizations depend on certain products to survive. For example, if you own a lumber mill or a mining company, the raw materials you produce are necessities for certain companies to operate. Take advantage of this fact by identifying those companies and pitching your product to them.

Identifying how your products can benefit organizations can lead to the development of a list of potential clients to contact. In addition, the bulk purchases of these organizations will provide major revenue that often exceeds what a private customer can provide. Facilitating an organization’s buying experience by allowing bulk purchases will keep them coming back for future business.

Since organizations adhere to standards regarding certain materials and products, researching the guidelines that surround your product will lead to additional development and marketing opportunities. Does your steel need to be a certain grade to be marketable? Does your latest line of shoes need OSHA certification? Bringing your product up to standard will allow you to market those qualifications to potential customers, making them likely to buy.

The use of missionary salespeople can help you identify and sign potential organizational clients. Missionary salespeople enter a region that your company does not currently serve and market your products to potential clientele, including major organizations that rely upon the goods that you produce.

Salespeople can use the concept of value selling to market your products to major organizations. Value selling focuses on how a product can solve a customer’s problems. With organizations, the problem is simple: They need safe, high-quality products to manufacture their own products and to keep their companies running smoothly. Your company manufactures the safe, high-quality product they need – and you can sell it to them.

 

The marketing formula is simple. Organizational selling is ripe with potential sales success – all it takes is a little bit of research and making the right connections. To learn more about effectively marketing your product to organizations, contact Shapiro Negotiations today about our corporate sales training program.

What Is Reservation Price in Negotiation?

The art of negotiation requires that people know the definitions of some confusing terms. Reservation price, BATNA, surplus, demand, ZOPA – these words can easily overwhelm a new negotiator.

However, once you know the simple definitions of these not-so-simple words, you will be able to use them with ease and authority and apply their concepts to negotiate successfully.

 

Reservation Price Definition and Examples

Reservation price is the least favorable price at which a negotiation will be accepted. This price is always a numeric amount. Simply put, the reservation price is the lowest amount that a seller will accept for an agreement and the maximum amount a buyer will pay. This is also known as the “walk away” point.

For example, imagine that you are selling the house you purchased 15 years ago at $500,000. Your house is worth $1.5 million, but with the current state of the housing market and the demand for purchasing a house, you would be okay with selling your home for $1 million.

You meet with a prospective buyer, and they tell you that the highest they are willing to pay would be $1 million. This would be your reservation price. From this point, you can decide whether to sell your home to this buyer or wait for a higher offer.

Many people confuse reservation price with BATNA. BATNA stands for “best alternative to a negotiated agreement” and, unlike reservation price, it expresses a scenario rather than a number. BATNA answers the following question: “What will you do if you are unable to reach a negotiated agreement with your partner?” While the reservation price is dependent upon reaching a negotiation, the BATNA is a back-up plan in case negotiation fails.

Using the previous example, imagine that you are still selling your home worth $1.5 million. Your reservation price is $1 million, as it will be the lowest price you would accept from a buyer. However, a close relative is moving to your city from out of state and is looking for a place to live. She offers you $900,000 for your home, a little more than half of its current worth but nearly twice what you paid for it.

If you are unable to reach a negotiated agreement with an outside buyer, your BATNA would be selling your home to your relative. Your reservation price will remain the same and while you would not be able to sell your home at the desired price, you will still make money off the negotiation.

Often, reservation price and BATNA do not yield such a wide profit margin. Imagine you are selling a guitar online. You purchased the guitar five years ago for $500, and it is still in good condition. You decide to list the guitar for $350 and decide that your reservation price is $200.

A buyer contacts you after six months of waiting for a response. He offers you $150 for your guitar, which is lower than you’ll go. You negotiate for $200, but he refuses. You decide to wait for another offer to come along but inform the buyer that if no one gets back to you, he can have the guitar for $150. This buyer would be your BATNA.

 

Why Is Reservation Price Important?

Simply put, reservation price is important because it allows a negotiator to define their baseline. For consumers and sellers alike, reservation prices help us make rational, informed decisions during negotiations, ensuring that no shady deals or lowballing takes place. Reservation prices protect everyone during negotiations and enable appropriate discourse.

 

To learn more about the art of negotiation, contact Shapiro Negotiations to schedule an expert training session today.

 

Tips for Cold Calling Scripts

Solicitation Many people say cold calling is a dead practice. With the rise of social media, email, and internet marketing, it’s easy to dismiss good old-fashioned phone calls as unnecessary. The stress of collecting phone numbers, making multiple calls to unexpecting strangers, and facing anger and hang-ups just isn’t worth the low sales yield.

However, many sales employees are simply not communicating effectively with their customers because of poorly written sales scripts that lack organization and a personal human element. Making simple changes, such as studying the anatomy of a cold calling script and taking on a conversational tone will help strengthen your cold calling script and turn your sales pitches from boring and basic to engaging and persuasive!

 

Know the Anatomy of an Effective Cold Calling Script

The basic anatomy of a cold calling script is:

1. State your name and your company, as well as some variation of “I hope your day is going well!”

2. Connecting statement. This is where researching the prospect comes in handy. Use the information you’ve learned about their company or interests and connect it to your own experiences.

3. Reason for calling. Tell them why you’re calling, but not explicitly. Explain that you notice that they are lacking a service or product that your company can provide for them. Be specific and connect with the prospect.

4. Qualifying statement. Tell them why your company can provide the best service or product and make their operations easier. Tell them what your service or product does and ask them if they already use a similar one.

5. Personalized ask. It’s all up to you from here. If they already use a similar service or product, tell them why yours is better. If they don’t, explain the benefits of your service or product. This will lead into your ask – and hopefully lead to a sale!

Many times, a sales call fails because of poor organization and preparation. Adhering to this basic structure will allow you to communicate the purpose of the call and begin your sales pitch to the customer quickly and effectively.

The amount of time a cold calling script should take a salesperson to read through should be 30 seconds or less. The entire sales call should take only a few minutes to complete. With a cold call, you are likely interrupting the prospect’s daily routine and you want to be mindful of their time. With a concise script, you will be able to communicate your message quickly, confidently, and clearly – qualities your prospect will appreciate.

How can such a short sales pitch be compelling enough to lure in new customers? The answer lies in the amount of prior research a salesperson does and his or her ability to hold a conversation.

 

Identify the Audience and Research, Research, Research

Once you’ve identified your prospective customer, take a few minutes to research them. Visit their LinkedIn profile and company website. Visit their associated social media profiles. Make notes of areas where your service or product can benefit them.

This information will help you craft a compelling qualifying statement and reason for calling. This research will set you apart from other sales calls in the customer’s mind, adding a personal human touch to your pitch that will compel them to learn more.

 

Have a Simple Opening

State your name and your company but try not to linger too long on your introduction. If someone detects that you are a cold caller, they may hang up immediately. A simple “Hi [prospect name], this is [your name] from [your company]” will convey a friendliness and a familiarity that will keep the prospect on the phone longer.

Try not to ask the prospect how their day or week is going. Both the caller and the prospect know that “How are you today?” is simply filler and doesn’t convey genuine interest. It is more professional to use a statement such as “I hope your day is going well” or “I hope you’ve had a good morning.”

 

 

Be a Human, Not a Robot

The purpose of a cold calling script is for referral, not to read word-for-word. Having a well-organized script will allow you to communicate in a credible, authoritative way, but if it’s obvious to the customer that you’re reading from a script, you lose that credibility.

Always adopt a conversational tone when using a cold calling script. Read the script like an actor, not a robot. You want to connect with your prospective customer – talk with them, not at them!

 

A Cold Calling Script Example

You can tweak the following cold calling script example to fit your sales pitch. It applies the basic script anatomy, takes on a conversational tone, applies simple research, and has a simple opening.

Jessica, a sales representative for Rooster Distribution, is trying to find new customers for her company’s line of phone accessories, including chargers, headphones, and charging blocks. She identified her city’s local aquarium as a prospect, since it is a tourist hotspot and many travelers may need to purchase emergency phone accessories. The following is the script Jessica plans on using to call Rob, the manager of the aquarium’s gift shop:

 

Hi Rob, this is Jessica from Rooster Distribution. I hope you’re having a good morning!

I’m a big fan of the Bishop Aquarium – I saw that you’re opening a dolphin exhibit next month! I can’t wait to check it out.

The last time I visited the aquarium, my phone was dying, and I noticed that your gift shop doesn’t have any chargers in stock. I know that a ton of tourists come around as well, and I imagine that they might need these products too… you know how hectic traveling can be and how important your phone can be!

Losing a charger or needing one in a pinch is super common and something I deal with all the time. Rooster Distribution supplies local businesses around Bishop with phone products like chargers, headphones, and charging blocks every day. Has your gift shop considered stocking products like these?

[continue from here and transition into ask].

 

Of course, even with the best cold calling script in the world, you will receive hang-ups and rejection. This is simply a part of the sales world. It’s important to keep pushing forward to success – and with a well-organized, conversational script, your chances of success will increase.

To learn more about cold calling scripts and other effective ways to boost your sales call success, schedule a corporate sales training session with Shapiro Negotiations today.

 

3 Keys to Effective Negotiation Skills Training

Negotiation is a critical business skill for all sectors of an organization, from sales representatives to high-level leadership. However, for an optimal learning experience, a negotiation course or program requires more than PowerPoint lectures and worksheets.

For a negotiations skills training course to be as effective as possible, students must obtain hands-on experience, learn tools that they can take with them and use later, and learn how to apply these tools to multiple scenarios. Using innovative learning strategies to administer a negotiation course can turn a class of untrained negotiators into masters of the art.

 

Negotiation Skills Training Programs Must Be Interactive

Using hands-on activities and roleplay scenarios are effective learning tools for multiple subjects, and they are especially effective for negotiation skills training.

When designing the training program, make sure to insert interactive activities to break up the monotonous instruction. Allowing participants to get their hands dirty will allow them to develop their own influencing styles and negotiation skills in a safe environment. This will also help participants practice the tools they are learning in the course, making them more likely to retain those tools for future use.

To administer a simple but effective scenario exercise, follow these three steps:

1. Make sure to make the scenario realistic. Participants want it to be in “their world” and will take it more seriously if that is the case.

2. Don’t overcomplicate the scenario with too many details. While participants want it to be real, too much information can be overwhelming and can have unintended consequences. Keep in mind that the more information the scenario has the more “outs” and “justifications” the participant’s have if it doesn’t go their way.

3. Have clear objectives in mind when creating scenarios. What specific negotiation aspects do you want it to test? Participants ability to ask questions? Conviction with which they deliver a first offer? Preparation process? Figure out what you want to address with the scenario and then build it.

 

Negotiation Skills Training Programs Must Supply Useful Tools

If students can use what they learn during the course in future situations, that is the sign of a successful training program. For this to occur, negotiation skills training programs can supply participants with tangible tools, such as training manuals or worksheets for future referral. Design the training program so that participants can easily answer the following question: “What will you do differently in your job as a result of this training?”

The goal of a negotiation skills training course is to ensure participants’ success in conflict. The program should be practical, and solutions should not be hard to find. Designing training materials that explicitly state the best practices for negotiations will be simple guides for participants to refer to in future situations.

 

Negotiation Skills Training Programs Must Be Customizable to Multiple Situations

Negotiation skills training programs must be relevant to the participants’ organizations or companies. Without this relevance, the facilitator will lose credibility. In addition, the participants will have to make their own connections to the material while learning new skills, which decreases their ability to retain information.

Implementing scenario exercises that are relevant to the participants’ industry is a correct approach to negotiation course design. If multiple industries are involved, design multiple scenarios. Using multiple examples throughout instruction will also allow connections to develop between practice and theory.

Negotiation skills training programs are tricky to administer effectively but following these easy steps will turn a program from mediocre to excellent. To learn more about negotiation skills training and to schedule an expert session for your organization, visit Shapiro Negotiations today.

Why Sales Analysis Is Important

Sales Analysis When creating a brand, understanding your consumers’ needs is imperative for a successful campaign. Prior to distributing goods to the public, however, businesses need to spend some time researching how their product or service can answer their consumers’ needs. A sales analysis positions a business to become a prominent force within the market because it helps them know if their marketing tactics are effective.

 

What Is a Sales Analysis?

Sales and marketing analytics are essential to unlocking commercially relevant insights, increasing revenue and profitability, and improving brand perception. A sales analysis report identifies the actual sales of a company over time. The report shows if sales are increasing or declining. With an analysis, actual sales may be compared to projected sales.

There are several benefits to conducting a sales analysis:

 

Opportunity to Expand Your Reach

A sales analysis is an opportunity to offer something unique, a niche, to the consumer who is not currently being met by other companies. Consumer surveys can also be conducted to learn about new goods or services that could have high demand in the marketplace. Understanding the demand is essential to remaining competitive. Also, unmet needs of the consumer are evaluated to see how products and services can be improved to increase customer satisfaction and profit.

An industry analysis allows business to estimate how much profit can be generated. Some questions to consider are:

  • Size of the market
  • How much the consumer spends
  • How frequently the consumer spends

 

Repeat Sales

New versus repeat sales of customer groups can be determined with a sales analysis. Managers can use this information to discover if they’re retaining business. Demand forecasting, a predictive analytic, can be used to estimate the quantity of products or services a consumer will purchase.

 

New Consumers and Branding

Gathering information about non-customers is an opportunity to gain their loyalty as well. A sales analysis will be able to identify what non-customers think of your product. The report can define the effectiveness of an advertisement, new products, and targeting. Your brand is important – it’s how your client base identifies you. Social media, sales conventions, and review sites are sources that are used to gather data regarding your brand, and you want consumers across these platforms to easily spot you. By identifying who is not buying from you, and why, your market can potentially be expanded to include new consumers.

 

Business Beware

While there’s no such thing as too much information, not understanding how to sue that information can be an issue. To avoid this:

  • Assess the financial cost: simply, how much money will your decision cost (or earn) the company
  • Assess the culture cost: a solution to a tough decision should have minimal impacts on your overall culture
  • Access the productivity cost: consider the impact of future productivity within the company

Sales analysis is one tool in your marketing kit; use it wisely and watch your client base grow.