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Attributes of Revenue Rock Stars is a topic I am frequently asked to speak or write about.   When discussing the attributes of top revenue producers, it’s also important to understand the most common disablers of sales people who otherwise look good on paper. One of these disabling factors is Need for Approval.

Need for Approval is a natural need in every non-pathological human.  Overall it’s not a bad thing. The importance of approval was taught to us by our mothers who required good manners, teachers who rewarded us when we did things their way, popularity contests in high school, and adults who said things like “You can catch more flies with honey than vinegar.” (I never quite got why catching flies would be a good thing—however, the West Texas girl in me can appreciate a folksy analogy when necessary!)  We all learned early that things generally go better when others like and approve of us and what we are doing.

Most sales people are used to being liked.  It’s one of the reasons we are in sales.  We get along well with others, are socially adept, build relationships easily and are generally charismatic. We thrive on positive recognition.  Therefore, it’s understandable that there can be a natural over-extension of these qualities. The sales people who are the most accommodating and patient are usually most susceptible to this over-extension.  Fondly, I call these sales people Approval Junkies!

Approval Junkies falter because the need to be liked or approved of by their prospects prevents them from holding prospects accountable or from asking tough questions.  Closing assertively and prospecting for new business also present real challenges for Approval Junkies.  They worry that cold calling a stranger might make the stranger irritated or result in being rejected. These types of sales professionals choose nice activities over productive activities by spending much of their time “servicing” existing customers or calling on their favorite, perpetual prospects instead of hunting aggressively for new business.  The only “flies” that are caught with this type of honey are appointments that do not result in new revenue!

Pay attention to this statistic: 47% of sales people suffer from the Need for Approval. This is half your sales team or could be you if you own your own business! What to do:

AcSELLerate Sales Tip: If you need love and approval, get a dog– a warm, fuzzy, wiggly-tailed fan!  The sales arena is the wrong place to get your Need for Approval met.

AcSELLerate Sales Tip: If you still have Need for Approval, get approval from your sales manager, your business owner, yourself and your checkbook by over-achieving your goals.

AcSELLerate Sales Tip: If sales people report to you, don’t be stingy with well-deserved praise and recognition.  Orchestrate events and contests that recognize your people.

AcSELLerate Sales Tip: If you have a high Need for Approval, learn a Compensating Strategy so that you can achieve the high-level revenue production you are capable of!  Top Sales Professionals have learned to manage their Need for Approval, and you can too.

If you would like to learn more about Attributes of Revenue Rock Stars, be sure to check out the September edition of Texas CEO Magazine.

Many companies, sales teams and individuals come to me because they’re very frustrated with one issue.  They’re sick and tired of having to “buy” the business by dropping their prices. It seems that there is no industry that’s immune to competitors who will engage in a race to the bottom on pricing. Thanks, Competitors, nothing’s more fun than playing “Who Can Be the Cheapest”!  The demoralization continues after the sales person has presented the solution/proposal, and the prospect renegotiates on pricing several times in a row.  At some point, rewriting proposals, shrinking margins and covert, pleading calls to sales management for permission to lower the price beg the question “What are we doing wrong?”  In 3 words—NO UNIQUE VALUE.  The sales professional failed to create unique value during the sale.

When a prospect cannot differentiate your product or service offering from your competitor’s, he has one go-to strategy: PRICE. That’s because price is quantitative and is the one thing that the prospect can use to easily differentiate you from your competitor.  It’s quite easy to figure out that $4000 is less than $6500.  Therefore if you’re being asked to drop your price to win a deal, you can be positive you failed to create unique value during the sale and did not differentiate yourself, your product, service or company from the competition. Unique Value doesn’t come in bigger or better features and benefits. Unique Value is created when the salesperson positions himself as an expert and a unique resource to the prospect or the prospect’s company. This is what Partner-Advisor Selling is all about. If a prospect wants you to be cheaper, you have not positioned yourself as a partner-advisor during the sales call.  Not to mention that being cheap is not good for the sales person’s checkbook or psyche.

Here are some common prospect statements guaranteed to make a sales person feel cheap and reduce the sales process to to a garage-sale-haggling-session:

“I don’t have time to meet with you.  Can you just send me a quote?”

“Your competition is cheaper.  Why do you cost more?”

“Before you try and sell me something, just tell me how much it costs.”

“Put some numbers together and email me.”

Without a strategy, each of these is extremely effective at making a sales person irrelevant, defensive about justifying his price and vulnerable to price pressure.  I’ve heard the feeling described this way: “I’m fed up with being asked to lower my price. I couldn’t get any cheaper if I were wearing a leopard-print miniskirt and standing on a corner somewhere!”  Now I don’t have anything against leopard print.  It can be an interesting fashion statement; however it’s the wrong way to sell!

AcSELLerate Sales Tip: Leave the leopard print at home.  Quit using transactional selling techniques and learn to sell as a Partner-Advisor.

AcSELLerate Sales Tip: If you start discussing price too early in the sales conversation, you lose value.

AcSELLerate Sales Tip: “What we obtain too cheap, we esteem lightly.”–Thomas Paine

Take a look at the picture, and what phrase comes to mind? Unfortunately, this is how a lot of sales people feel right before they pick up the phone to start making cold calls. I think we’ve all had this feeling, however this “insert your favorite phrase here” moment is quickly replaced by the thrill of victory when a discovery call goes well.

Say what you will, discovery calls are one of the most time-efficient ways to prospect for new opportunities. (Yes, I realize I now have sales managers who love me and sales people who hate me!) I’m not sure why we all get so worked up about the thought of making discovery calls into new opportunities, but it seems to be universal. You’ve heard the statistics: 99% of sales professionals hate cold calling and the other 1% are lying. That aside, some of my best opportunities and relationships have come through effective discovery calls.

When I talk with sales people and ask if their prospecting plan includes discovery calls, most sheepishly admit that they do them rarely, if at all.   When I ask why, there are only 4 answers:

A I don’t know how to do them well
B I feel like a creep and expect to be rejected
C They don’t work in my industry (which is usually an excuse that combines A and B)
D All of the above

The majority of the time, B is the answer that trumps all the others. No wonder the thoughts and feelings that register when looking at the picture of the convertible following too closely behind the Porta-Potty-hauling-truck can be the sales person’s reaction to the days blocked out for dials. The negative self talk goes something like, “Oh___! I’m on a collision course with disaster and when it’s over I’ll be stinky, slimy and disgusting.”  This mind-set alone will guarantee unsuccessful prospecting calls.

Let’s put things in perspective.  In case you haven’t noticed, I use the term discovery calls instead of cold calls, because that’s really what they are. A sales professional is simply calling into a company to discover whether or not there is a need for what they do. The goal of a discovery call is simple: To have an Authentic Business Conversation. An authentic business conversation will never diminish a professional’s integrity, although trying too hard  to close for business on an initial call could.  Not to mention it puts far too much pressure on the sales person and the prospect. Closing for an appointment with an unqualified prospect doesn’t make much sense either.

AcSELLerate Sales Tip: Rethink the purpose.  The purpose of your discovery call is to qualify an opportunity and determine if there’s a reason to go further with the prospect.

AcSELLerate Sales Tip: Learn to execute.  Effective discovery calls are conversational, not scripty.

AcSELLerate Sales Tip: Change your beliefs.  As a sales professional, you have a wealth of professional expertise that is valuable to your prospects.  It’s your obligation to let them know you exist.

I often open a training session with a very simple question: “What is every person in this room selling?”  The typical answers I receive are “ourselves” “trust” or “solutions”.  All are good answers, but not the answer I’m looking for.

CHANGE is what every hunter-salesperson is selling. The change can be from an existing provider, a change of product, process or procedure, a change of personnel or technology, and the list goes on.  The next question I ask is, “Is change easy or hard?”  “HARD” is the unanimous, resounding chorus from each group, and they are right.  Change by its very nature is difficult, and all of us find some levels of discomfort and risk associated with making changes.—No wonder prospects (especially guardians of the status quo) don’t get excited when a sales person suggests a “change”.

The discomfort, risks and problems associated with making a change are often quite substantial. If the discomfort, risks and problems associated with your prospect’s existing situation are less than the discomfort, risks and problems associated with making the change to your product or service, guess what? NO SALE.– And make no mistake, a change in the corporate or personal checkbook (spending money) always causes discomfort. This is why prospects negotiate pricing, want to get several bids and don’t pull the trigger on buying decisions.

What’s a sales person to do? Become skilled at helping your prospects discover how much the existing situation or problem is costing their companies or themselves. Understanding the dollar cost of a problem allows the money discussion to be positioned as a return on investment. Occasionally the cost of a problem is easy to discover. Most of the time, however, prospects are stumped by the question because there isn’t always an obvious connection between the problem and hard dollars. The cost of the problem can be disguised in several forms: money, time, energy, emotion and opportunities lost. When the prospect discovers that the cost of enduring the existing situation outweighs the cost of making the change to your product or service, money objections disappear.  This principle is what I call the CHANGE EQUATION:
Cost of existing situation < Cost of changing = NO SALE
Cost of the existing situation > Cost of changing = SOLD

AcSELLerate Sales Tip: Learn the skills to make the change equation work for you!

This blog is inspired by a great blog written by Ragen Chastain, http://budurl.com/peng.  It tells the story of a little boy who went to the zoo with his 1st grade class and managed to entice a penguin into his backpack, zip it up, conceal the wiggling backpack on the bus and bring it home. I’m sure, as this enterprising  little boy’s mother packed his lunch and sent him off to school, it never occurred to her to say, ” And honey, when you go to the zoo today, don’t put a penguin in your backpack.”  The story reminds me of my experiences as a mom and all of the things I should have said, but never dreamed I would need to say.  Here are some examples:

• “Don’t put the fire truck in the toilet.”
• “Don’t sit in the toilet.”
• “When you need to go to the bathroom, don’t use the empty sippee cup in your closet.” (My kids clearly had some potty issues.)
• “Don’t eat the mushroom you picked out of the backyard.” (This resulted in my only experience with syrup of ipecac.–Why would a kid eat a backyard mushroom, when he gags over the ones on his dinner plate?)
• “Don’t shoot your brother with an arrow.”
• “Don’t eat a worm.”
• “Never use your sister as a paint ball target.  It doesn’t matter if she’s wearing a helmet”.
• “Don’t run outside in the snow when you’re naked.”
• “That is supposed to be on the INSIDE of your fly. Put it up, it’s time for dinner.”
• “Are you sure going to the grocery store dressed like Peter Pan is a good idea?”
• “Don’t tell the docent at the museum that the teepee smells like your underwear.  Don’t tell anybody that anything smells like your underwear.”
• “It’s bad form to complain that we are out of cream cheese while you’re wearing your SAVE DARFUR shirt.”

All of these statements come from my real life.  This trip down memory lane got me thinking about all of the things in SALES that you should say, but never think you need to say.  Here are my top five:

• “Is $360,000 a lot of money to your company?”

OK, I know this sounds ridiculous.  However, without asking the question, the sales person is making an assumption.  A problem that costs a company $30,000 each month may be a lot of money (depending on their profits) or it may be a drop in the bucket.  If it’s a drop in the bucket, the company may or may not be willing to pay money to solve the problem.  Don’t make the assumption that an amount which seems like a lot to you is a lot to the company you are meeting with.

AcSELLerate Sales Tip: Assumption is the enemy of the sales person.

• “When you say you want to move forward, what does that mean?”

Again, we could be playing in Assumption Land.  It’s the absolute opposite of that fun kid’s game, Candy Land—mainly because the salesperson usually loses.  Optimistic sales people (as most of us are) take the statement “I’m pretty sure we will move forward” as a sure sign that the deal is closed.  If I had a nickel for every story about a “verbal commitment” that didn’t turn into money…..

AcSELLerate Sales Tip: Verbal Commitments should be tested with more questions.

• “I don’t want to stalk you.”

If you are thinking I’ve just gone too far, stay with me.  This phrase is magic when trying to get the prospect to agree that no one (including them) wants to get stuck on the Follow-Up-Merry-Go-Round.  Everyone has been on this ride.  It’s lots of fun: Sales person leaves a message, prospect avoids the call, sales person leaves a message, prospect avoids the call, sales person leaves a message, prospect gives a lame excuse and promises to get back with the salesperson soon, salesperson leaves a message… Anybody dizzy yet?

AcSELLerate Sales Tip: Quit following up!  Get clear agreements for decisions or next steps after every meeting.  If you are already on the ride and can’t get off, try this: I don’t want to stalk you with phone calls and emails, but I am trying to follow-up professionally.  What do you suggest I do?

• “It’s fine to tell me NO.”

If the prospect isn’t going to work with you, when would you like to know? ‘Nuff said.

AcSELLerate Sales Tip: YES is better than NO, but NO is better than MAYBE.

• “Before we meet, you need to look at your checkbook.”

One of the largest mistakes I see is allowing the prospect to think that you will have a sales meeting without discussing money.  The second largest mistake is not preparing the prospect for that conversation.

AcSELLerate Sales Tip: If you can’t talk money, you won’t make money.

The ART of business relationships is Authenticity, Relevance and Trust.™
Although most sales programs focus on building trust effectively (and they should), seldom is Relevance discussed or recognized. Here’s the question: If your prospect/customer trusts you, but you don’t regularly demonstrate your relevance, are you truly a Partner-Advisor to your client?

Relevance is critical. Today, buyers are too busy to take a meeting or have another conversation that doesn’t add value to their day. Value is delivered by addressing an issue that is at the top of their priority list or by asking questions that help your prospects/customers evaluate their business in a new strategic or tactical manner. Irrelevant sales people rely on the “buddy” approach, but are not truly engaging with their prospects/customers as a Partner-Advisor. Often, I encounter sales people who believe it is their company’s responsibility to create programs or pay to make them relevant. I couldn’t disagree more! Although it is ideal when a company does invest in its people, in the end it is the sales professional’s responsibility to make himself relevant. This self-responsibility is what separates the sales person from the sales professional (and often the unemployed from the employed)!

RATE YOUR RELEVANCE:
• Do I know my prospect’s industry?
• Am I an expert in my field?
• Am I better than my competition at anticipating and solving problems my prospect/customer encounters?
• Do I attend workshops/seminars that make me more valuable to my prospect/customer?
• Do I commit time quarterly to reading relevant business books/materials?
• Do I master a new business skill quarterly?
• Do I have a mentor or mentor others?
• Do I write articles, blogs or white papers that address priority topics for my prospect/customer?
• Do I actively bring new relationships/best practices/tools to help my customer/prospect?
• Is my good work recognized?

If you scored well on the first 9 questions, the last question may be the most important. If you feel a twinge of self-promotional conscience telling you that recognition isn’t important, you have business opportunities running through your fingers! If you believe word-of-mouth is enough, you will lose business to less-capable competitors. Resolve today to put a plan in place to let prospects know you exist!
Are YOU relevant?

That is the question I am asked by business owners who are planning their sales and marketing campaigns. The first question I would ask is, “How do you plan to use it?” Here are the answers I receive:
• “As part of a direct mail campaign.”
• “In the sales call to help explain our capabilities.”
• “As a leave-behind item to remind prospects of our capabilities.”

Let’s take a look at each option:

If it will be used in a direct mail campaign, how much is the investment and what percentage of your prospects will actually read or keep your brochure? My experience is that only 8% of the population reads these items and even less keep them. That assumes, of course, that the brochure lands on the desk of your intended prospect. Direct mail response rates are between 1% and 3%, so is the investment worth it? If the campaign is followed up with a structured Prospect Pursuit Plan which includes phone calls, emails, invitations, give-aways, etcetera, it could be a good first step. If it provides the courage for a salesperson to make a follow-up call (AKA: Linus’s Blanket for Sales) that’s not a bad objective either. However, pinning revenue goals and expending a significant amount of a marketing budget on a beautiful one-time-touch brochure will not give most companies the results they are hoping for.

The second option, which is to use the brochure as part of the sales call has problems associated with it.
• If it is used in the beginning of the sales call, it automatically puts the sales person into the “presentation mode”. It disengages your customer almost immediately and focuses on “the pitch”. You might as well wear your “I’m a SALES Machine” t-shirt into the appointment. The prospect figures out quickly that you aren’t there to really understand his problem and trust is broken.
• If the brochure is brought out in the middle of the call, it shifts the sales person into talking about features, benefits, solutions and pricing too soon. Most importantly, it does not position you as a partner/advisor to your prospect because relevant questions and high-level problem solving are not the focus of the meeting. (By the way, if you use a corporate flipchart/binder to sell, you have the same problems.—Not to mention that you are now selling with the same level of sophistication as college kids who sell steak knives to their parent’s friends!)

The third option, is to use the brochure as a leave-behind.
• This has some value if your company employs physical walk-ins as part of its prospecting plan. If it is VERY well-produced it can add to the credibility of your company. However, it will never make the sale for you or be a factor in the decision to buy from you. If it’s poorly produced, don’t bother.
• If it’s used at the end of a sales appointment, to remind the prospect of your capabilities, you probably executed a poor call, and the brochure will hit the round file! If the prospect is qualified, an excellent sales professional should walk out of the meeting with a signed contract or a clear next step and another appointment. Unfortunately, many calls end with the BROCHURE BRUSH-OFF. The BROCHURE BRUSH-OFF goes like this:
SP: “Here’s some information on our product/service. It explains some more details about us. Do you have any questions?
P: “Not right now. I’ll get back with you when we are ready to make a change.”
SP: “Is it ok if I check back with you in a week?”
P: “Sure, thanks for coming in.”

Congratulations! The BROCHURE BRUSH-OFF was executed perfectly by the Prospect.–And the Salesperson let it happen!Who’s in control or your sales process?

YOU HAVE TO YELL “TRICK OR TREAT”!
I don’t know about you, but if a kid shows up at my house and just stands there, they don’t get any candy. Every kid who comes to my house has to say “Trick or Treat” before they get their chance at the goodies!

AcSELLerate Sales Tip: If you don’t ask, you don’t get. Sales people who are timid or slow about closing, don’t walk away with the goodies!

A GOOD COSTUME GETS EXTRA CANDY.
Who do you reward with extra candy? The kid who worked hard on his costume, donned a wig and even put on make-up or the kid who showed up wearing a black trash bag carrying an empty pillow case?

AcSELLerate Sales Tip: Sales people who go to the extra effort of preparing for the sales call (researching the company and/or the industry, setting an agenda and preparing some relevant questions) are always rewarded over their competitors who decide to “wing it”. Don’t show up for your sales call with an empty pillow case!

DON’T GO TO DARK HOUSES WITHOUT DECORATIONS.
Ok, this one is easy. Every kid knows that the houses with the lights off and no decorations are Halloween Scrooges. No candy there, move on. Chances are 100% better at the cool houses with jack-o-lanterns, lights, and freaky music. Things get even better if the owner answers the door in a costume!

AcSELLerate Sales Tip: Why is it so easy for kids to quickly identify their “Ideal Client” and yet so hard for sales professionals to figure it out? How often do we find ourselves knocking on the door of someone who will never be qualified to be our client? If you haven’t spent the time or the money to identify your “Target Market”, no wonder you aren’t getting very much candy! Quit knocking on the wrong doors and move on! Call on some prospects who will show up in their costume (their “I need what you sell” costume) and start enjoying the sweet life.

YOU HAVE TO RUN FAST TO GET THE GOOD CANDY!
Every kid past the toddler stage has figured this one out. Word spreads quickly about the houses with the good candy. You’ve got to get there early if you want the best stuff.

AcSELLerate Sales Tip: If you snooze you lose. Selling requires that you are well-connected in your industry and can quickly identify an excellent prospect. There is more competition than ever before, and those who aren’t up for a serious pursuit of the prospect should just stay home.

IF YOU CAN GROW A BEARD, YOU SHOULDN’T TRICK OR TREAT.

We’ve all seen this guy—eighteen, obnoxious and completely out of touch with the realities of his situation. He may try to fake you out with a cute cowboy costume, but we all know he isn’t the real deal.

AcSELLerate Sales Tip: If you haven’t updated your sales approach or tactics in the last 10 years, you may be dating yourself. Worse, you are probably losing business. The time-worn techniques of bonding by asking personal questions and presenting features and benefits are out of touch with today’s businesses. Businesses today value high-level problem solving and The New ABCS of Selling: Authentic Business Conversations ™.