042 | What To Do When Your Client Says I Don't Know
Have you ever been talking to a potential client and asking questions, only to have them say they didn’t know the answer? What was your response - did you think they were telling the truth or just trying to get out of answering the question all together?
On today’s episode of Grow My Revenue I'll be talking about the three possible reasons you may hear "I don't know" and what to do in this exact scenario. I'll also be giving you the ideal formula to use case studies to create third party validation, why no doesn't mean no for all time, and much more on this show!
Listen to this episode and discover:
How can you tell quickly which opportunities are the right ones for you?
What to say if you’ve discovered you’re talking to the wrong person in an organization.
How can you peak and retain a potential client's interest?
What are the common pitfalls most companies make with case studies?
How do you use case studies to their greatest impact?
And so much more…
Episode Overview
Imagine this setting: you're talking to your client and are using the same side selling approach. As you continue to talk you get to the issue and impact components when the potential client says they have no idea of the impact this issue is having on their organization.
What do you think is really happening here? Do they actually not know the answer or is there something else at play? The truth is there are three reasons they’ve told you they don’t know.
The first is they really do not know the answer. They may not have thought about the impact of this issue before so they don’t have that information and they genuinely don’t know.
The second reason is they do not trust you with the answer. It’s possible you haven’t built up enough of a rapport with them and they don’t trust you with this information. They think if you know how impactful this issue is in their organization you will raise your rates because you know they need you. As a result they become guarded and don’t want to give you the information.
The third reason is they don’t want to look ignorant to you. They think they know the answer but aren’t totally sure so they’d rather say they don’t know then give you wrong information and have to correct themselves later.
On today’s episode I’ll explain how you can find out which of these reasons applies to your potential client, and how you can respond based on the reason behind their answer. I’ll also explain how to tactfully find out if you’re talking to the wrong person with the organization, and what to do if that's the case. Also on this show I give the effective way and not so effective way to use case studies to create third party validation.
Discover more at http://www.growmyrevenue.com/business-cast/
041 Colin Eagen | Doubling Your Business in Three Years
If a company doubled in size in three years and was on the Inc. 5000 list would you be interested in hearing the key factors that created their success? Of course you would and Colin Eagen of E Group is here to share those key factors.
On today’s episode Colin joins us to discuss what E Group has done to build that success into their business model, as well as what’s different today versus 33 years ago when he started in sales. We’ll dive into why it’s important to focus on your client’s end results, and why appreciation is a vital part of every business from employee to client to vendor.
Listen in for real-life case studies that showcase Colin's company's growth, and hear the lessons you can learn to do the same in your organization.
Listen to this episode and discover:
What is MIDE and why Is it important?
What is their blueprint process?
Why the sale is the starting line, not the finish line.
The importance of appreciation in employee and client relationships
The one piece of advice he has to achieve his same level of success.
And so much more!
Episode Overview
When Colin started his career in sales the world was a different place. Communication was much slower: there was no Internet, email or even fax machines. As a result clients’ expectations were much different. Today people want real-time answers and it’s far more difficult to connect unless you have an appointment with someone.
To add to that today’s client knows your business before you even talk to them, they've done online research. If they are willing to talk to you then they already know what you do; and they simply are trying to find out if or how you can help them and how you can make your solutions fit their business needs.
But one thing has remained the same throughout: relationships. Then and today it’s important to build trust and build relationships. Those two components are critical to having any success.
And those are two things his business has focused on to grow to their current state. Today his business generates $25 million in sales with a team of less than 30 people and they’ve made the Inc 5000 list several times in the last few years.
To build that trust and those relationships with their clients they show them they are focused on results from the very beginning. And they do so by asking and finding the answers to questions about issue, impact, importance and results. Discover more at http://www.GrowMyRevenue.com/business-cast/
040 | Rohit Bhargava | How To Identify Trends And Predict The Future
Imagine you had the ability to forecast trends, predict the future and spot things others overlook. Now imagine what you would with your business.
A man who can help you make that imagined picture a reality is here for this episode. He is none other than Rohit Bhargava, the Wall Street Journal best-selling author of Non-Obvious: How to Think Differently, Curate Trends and Predict The Future. He's also the founder and CEO of the Influential Marketing Group (IMG), a consultancy formed to help brands and marketing leaders.
Today on Grow My Revenue Rohit talks about the biggest mistakes we make when trying to spot trends, the biggest trends he sees right now and 5 habits you can adopt to help you curate and identify trends others overlook.
Listen to this episode and discover:
How does Rohit define a trend?
What is Venmo and why is it important?
What is strategic downgrading and why should you care?
Are trends industry-specific or across the board?
What is the dessert spoon lesson?
And so much more…
Episode Overview
The first question Rohit answers is about what trends he's seeing today. To start that discussion he defines what he sees as a trend and then shares several trends he's tracking right now including strategic downgrading and virtual reality.
Strategic downgrading is when we prefer the simple tools over tools that have been infused with technology. A great example is vinyl records or 8-bit video games. There's a trend towards people wanting to go back to the simple way to experience music: listening to albums on vinyl. Rohit says this happens because we want to enjoy the experience as it was without all the technology. That is strategic downgrading.
The other trend he's been watching is virtual reality. That's the hot ticket everyone is talking about right now. But he spots trends by looking at the non-obvious side of it (hence the book title), and in this case the trend he is watching is virtual empathy.
Virtual empathy is a non-obvious side of virtual reality. Virtual reality allows us to put ourselves in the shoes of others in a way we would never otherwise experience, like being a Syrian refugee. Empathy and compassion come from having an understanding of that person's existence, even if that understanding stems from a virtual reality experience.
If you're curious about how he found these two trends and so many others, he shares 5 habits you can adopt to make that happen on this episode. Discover more at http://www.ianaltman.com/business-cast/
039 Barry Glassman | Creating Company Culture
Have you wondered what makes a company a great place to work? Is it something you should be striving for within your own organization? Our guest for today, Barry Glassman is a renowned expert on company culture. His company, Glassman Wealth, has been voted as the best place to work in Washington DC by multiple local publications.
On this episode of Grow My Revenue Barry joins us to talk about what makes his company's culture a great place for employees and for their clients, why having a purposeful culture is so important and how to show people what your company is about rather than showing them.
Listen to this episode and discover:
- What questions should you ask to find out what your clients really think of you?
- Why Barry prefers steady growth over quantum leaps.
- How his passions for cooking and photography translate to business success.
- What does he wish more perspective clients would ask?
- The story of the Starbucks gift cards, and what you can learn.
And so much more…
Episode Overview
While Barry is an exceptional financial advisor most of our conversation on today's episode was about the culture he and his team have created at Glassman Wealth. In the Washington, D.C. area the Glassman company is known as the best place to work in the area.
Creating that culture began a few years ago, Barry and his team wanted to create a purposeful culture. They wanted to be very clear about why they are doing what they are doing, and who is on board with what they do in terms of employees. They also wanted to delineate what experience they wanted the company to have internally, and after all of that, then and only then would they look at what they are doing for their clients.
Because of all of this shows up both internally and externally they asked external questions to find out what clients valued about them, and how those clients perceived about Glassman Wealth. Specifically a question they asked was: How would you describe us to your friends? The answers to this question, which you can also use, showed them what was valuable about the firm and how their clients saw them.
Barry has also found another key to being a great place to work: show people, don't tell them what you're about. The Glassman Wealth firm prefers to listen to the questions clients ask, and answer them. They then share the information from those answers with other clients, This is vastly different than a lot of people in the financial services industry who simply want to show people how smart they are, rather than show they care about their clients.
The firm is smart and innovative, but they take approach of showing and not telling you that is who they are. On their web site, for instance, they share videos explaining how they think about investments. Those videos educate their clients, prospective clients and the world on how things work. The videos show that Glassman Wealth open, honest, transparent and also that they are smart and innovative!
This is also what Barry calls "interrupting the pattern". Wealth management firms all say the same thing; everyone is about telling you they stand for trust, objectivity and that relationships are important to them. They all are saying the same thing, which leaves potential clients searching to find out what is different about each prospective firm. So Glassman Wealth interrupts the pattern of what those potential clients are expecting to see, and they set themselves apart from everyone else.
Also on today's episode Barry shares his one piece of advice on how to make your company a great place to work and how to build a recipe for success within your business model. There's so much to learn from him on this show so listen in and then take action to implement his suggestions.
Discover more at http://www.ianaltman.com/business-cast/
038 Growing Your Revenue Through Conferences and Trade Shows | Ian Altman
In person events like trade shows, conferences and conventions can be some of the best ways to make an impact on your target audience, expand your network and grow your revenue. But only if you're approaching the event with the proper preparation, advanced planning and setting the right goals for your attendance.
On this special solo show I'll explain what the biggest mistakes are that I see most presenters and exhibitors making at live events, how you can avoid them, how to attract the right people and how to know who they are. I'll also explain what you need to do in advance of the event, and why these steps are critical.
There's a lot of information in this one so get ready to take some notes, and then implement those notes during your next trade show, conference or convention.
Listen to this episode and discover:
- How to use predictive tools for greater results at trade shows.
- Are most people interested in your latest technology or feature?
- What is I3 and how can you use it?
- What is my catch and release program and why should you use it?
- How to engage someone who approaches your booth.
Episode Overview
By the time you get to an event your company has typically invested a small fortune just to have you there. From hotels to airfare to marketing materials and the booth itself, presenting your organization at live events can be costly. And because many people aren't properly prepared an event doesn't pay off as much as it could.
Too many organizations are content with the typical marketing department's direction: get as many business cards as possible. The goal is to simply get there, talk to as many people as possible, gather as much information from as many of those people as possible and then follow up post-event.
But this is an ineffective approach, and one of the biggest mistakes I see people making when attending events. Rather than blindly gathering as many business cards as possible, take the time to prepare in advance. Know who is going to be there, and be willing to invest the capital to find out. Once you know who is attending you can send a note to potential attendees who might be a fit for you.
Simply let them know you solve several different problems (typically three) and explain from their website and their company history it looks like they may have a need for one of your solutions. Offer to set up a time to meet with them at the event to explore this further. If you peak their interest set up an appointment.
Now that you have the appointment continue to make it about them. When you meet with them be sure you are curious about them, and what makes them tick. Don't focus on how you're going to sell to them! We're all pre-wired to not want to be sold to, so avoid doing it. Instead ask questions, get curious about them and engage them in a dialogue.
Also on today's episode I explain a surefire way to respect attendees' time while still discovering if they are a match for what you do, what I mean by the catch and release program, and some of the things you should NOT be doing while attending a live event! There's all of that and more on this edition of the show.
Discover more at http://www.ianaltman.com/business-cast/
037 Sean Farrell | Tripling Your Bottom Line with Integrity-Based Sales
Does it seem counterintuitive to you that by leaving money on the proverbial sales table you could actually increase your bottom line? While it may seem that way at first glance, today's guest shares how that is what has been happening in his business.
On this episode of Grow My Revenue I'm joined by Sean Farrell of Quality Data Systems (QDS), and he explains how they've used integrity-based sales to exponentially grow their company. For a few years now QDS has focused more on their clients and the solutions those clients need, that has tripled QDS' bottom line. Listen in for real-life examples and how using an integrity-based approach to selling has created so much growth for QDS, and can for you too.
Listen to this episode and discover:
- Why doing the right thing now can lead to bigger deals in the future.
- What is integrative sales really about?
- How focusing on results generates better outcomes for them and their clients.
- Will more questions equal a longer sales cycle?
- How QDS tripled their bottom line without pursuing triple the amount of opportunities.
- And so much more…
Episode Overview
Sean Farrell has been the CEO of Quality Data Systems for a few years now even though he never intended to go into the family business. QDS was a company his dad started in 1983, but it was his dad's work and not of interest to Sean. Sean had other ideas: he played collegiate baseball at the University North Carolina and was later drafted by the Oakland Athletics.
When he tore up his shoulder diving for a ball in the outfield Sean went through several surgeries, none ever fixing it properly. Between the injury and the incredibly low pay of the minor leagues he opted to make some cash by going into sales.
Soon he found his competitive nature taking over and discovered his love of sales. Landing a deal was just as sweet to him as hitting a home run! Thirteen years later he is still at QDS and loving the work he does there.
When Sean's dad started the company and still today QDS sells and services money-handling equipment for banks, credit unions, and retail. Anyone who handles cash, coin or check can be served by a product or offering QDS has available. Over the years that has evolved from desktop products to integrative systems and solutions, that integration at Sean's behest.
On this episode of Grow My Revenue, Sean and I take a snapshot look at what QDS was doing prior to the implementation of integrity-based sales, and what they've been doing since implementing this new way of doing business. Plus Sean gives a real-life example of integrity based sales and how he served his clients' needs with a much smaller monetary investment (even when he knew the client had a sizable budget for the solution).
Sean explains that by focusing on how QDS solved similar problems for previous clients the company presents itself in a way that opens doors with potential new clients. QDS' approach now is simply they are there to solve the problems clients have and deliver the results the clients need. Price is rarely a key driver in those conversations today because it's all about the value and results QDS provides, and as a result it's actually helped QDS become more profitable.
Another surprising share on this episode is Sean's real-life example of providing a very inexpensive solution to a client with a large budget - and how that won QDS a role as a trusted advisor to the client and led to more sales in the future.
This is an episode you don't want to miss, especially if you've been considering implementing an integrity-based sales approach for your team. There's all of that and so much more on today's episode of Grow My Revenue!
Discover more at http://www.ianaltman.com/business-cast/
036 Sharí Alexander | Growing Your Influence
One of the fundamental tenets of sales I emphasize on this show is selling with integrity. So why would I suggest you learn what con artists already know? Because it's the exact same technique everyone uses to grow their influence, whether they are a con artist, a trial attorney, a CIA operative or anyone else.
On this episode of Grow My Revenue influence coach and author Shari Alexander joins us to look at the fascinating topic of influence. She's explored the what influence actually is, why influence isn't inherently good or bad, and how to use the 3 step process she's uncovered used by the most influential people in the world.
Listen to this episode and discover:
- Why do so many people shy away from building their influence?
- What is the hourglass theory of conversation?
- The role curiosity plays in establishing rapport and connection.
- Elicitation vs interrogation: what is the difference? Shari gives an example.
- Is there such a thing as too many questions?
Episode Overview
When Shari began studying influence and communication she was fascinated to find that no matter who was wielding the influence, con artist or CIA operative or trial attorney, they were using the same patterns and strategy. She was even more astounded to realize how little leaders knew about this strategy, especially as compared to con artists.
The strategy she observed is a three step process she calls observe, connect and influence. Most of us, especially sales people, want to jump to the third step (influence) and learn all about it. You've probably heard someone say "I want to grow my influence". And while that's a healthy approach it falls short of the first two steps, and often leads to increased risk on the part of the influencer and the influencee.
On today's episode Shari explains what each of these steps are and why they are necessary to the step after it, what we can learn from the long con game played by con artists, as well as the pivotal part curiosity plays in creating rapport, connection and, ultimately, influence.
Observation.
The first step in influence is observation. You're looking for certain things in the person you are wanting to influence, you observe certain ways you can connect with them and certain things you can talk about so you can move on to the next step: rapport.
Rapport.
The second step, rapport, is simply about building likability with the person you are influencing. You are finding ways for them to like you, and for you to like them. This is how and when you build trust: both of which are critical pieces that need to be present before you move into step three, influence.
Influence.
The final step is influence. This step is where you actually make the ask. If you've done the other two steps effectively you often don't need to know much about this step, but having a few techniques here will help.
The reality is all of us want to be seen, heard and appreciated, but very few of us are giving it. So when a con artist provides this to a mark it becomes addictive to the mark, and they'll give anything to get another "hit".
There's so much valuable and insightful information shared on today's episode of Grow My Revenue! Be sure to listen in to hear it all.
035 | Keeping Up With Your Competition
Some of the latest developments in business tech you might not have heard of are competitive intelligence and predictive campaigning. Competitive intelligence keeps tabs on what the industry is saying about your company, what your competition is doing as well as your prospective and existing customers.
Predictive campaigns are the latest evolution in marketing: they provide key information about customers based on thousands of data points, and show you why certain customers work with you and uncover others like them already in your database!
On this episode of Grow My Revenue I have two key leaders in this area join me to talk about both of these topics and how they are shaping the future of sales and marketing.
Listen to this episode and discover:
- What is crowdsourcing, according to Jim?
- How do you know if you are paying enough attention to your competitors?
- What you should be looking for in competitive intellingence, and probably aren't.
- 97% of all so-called leads never result in a sale: true or false?
- What does predictive analytics actually do?
- And so much more…
Episode Overview
On this episode Jim shares how Owler helps people spend less time gathering information on their competition and their own company's place in the market, and how Owler has turned competitive intelligence into a democracy for everyone. In the past only large companies could afford competitive analysis but with the advent of Owler and similar companies everyone can receive competitive intelligence data.
Also on this episode is John Bara, a 25-year veteran of Silicon Valley who works with some of the fastest growth companies there. He is the President and Chief Founder of Mintigo. Today he explains what predictive campaigns are, and how they are at the forefront of the latest in the evolution of marketing.
Predictive campaigns are the latest way for marketers to gather customer and prospect data. They are based on predictive analytics, predictive fit and intent data. Predictive analytics creates a broader profile of a person, Mintigo calls this the customer DNA.
An example of this is let's say you're a tech company and you're selling software. What you know about your customers is fairly light: you know their name, title, email and and what they've bought from you, how much they paid and how long ago they bought. That's not a lot of data and it doesn't go very deep into the person.
Predictive analytics would gather thousands of data points about that person and add to their profile, to help give you get a pattern of who they really are. Some examples would be: the job title of who they are hiring, what types of tech are they using, what certifications do they have (legal, regulatory, tech). You'd also find out how much they are spending on Google ads and other PPC ads, and what are their geographic trends. You have a broader, richer look at your customer.
Predictive fit helps you understand those thousands of data points to find out why you are doing well with certain types of customers, and who else in your database fits that mold. It also helps you understand how to have a sales conversation with that prospect.
John goes on to explain what intent data is, how it's useful as well as hi best piece of advice for marketers on this episode of Grow My Revenue. On this episode both John and Jim provide valuable revelations about the latest technology in sales and marketing, and how it can help you grow your revenue.
Discover more at http://www.growmyrevenue.com/podcast/competition/
034 Working With Gatekeepers and Other Sales Strategies | Ian Altman
If you've ever tried to reach an executive but been stymied by their gatekeeper today's episode will strike a chord with you! One of the most common challenges sales people have is reaching their potential client when that potential client has a gatekeeper. Is there a way to work with that gatekeeper or do you have to resort to tricks like dropping by without an appointment?
On this special solo show I'll answer those questions. I'll explore how you can work with the gatekeeper to create a valued relationship, and how to make sure you're getting the right people involved in the decision-making process. It's all here on this edition of Grow My Revenue.
Listen to this episode and discover:
Why you need to know your potential clients' elevator rants.
What is the same-side quadrant and how do you use it?
What is the difference between impact and importance?
What is BANT and why doesn't it apply today?
What is the hidden question executives ask themselves?
And so much more…
Episode Overview
Whether you've been in sales for a few months or a few decades you have most likely come across a gatekeeper: the assistant or secretary to a potential client you are trying to meet. Maybe you've tried the less-than-honest approach of pretending to be that potential client's friend or you've dropped by unannounced. And if you did you discovered neither tactic is effective.
Today I share what does work when you approaching gatekeepers as well as how to earn the attention of senior executives - two topics that go hand in hand. And finally I'll also give you specific questions to ask to ensure you have all the necessary people involved in the sales process.
When you first attempt to get around a gatekeeper ask yourself why you are trying to go around this person? Why aren't you enrolling them to be your ally? This person is someone to build a valuable relationship with for two reasons: first they control the calendar of your potential client and second they are in that role because they want to help people. So if you truly are genuine in asking for their assistance they will give it to you. But if you try to steamroll past them to get to their boss, you'll be kicked to the curb (as you should be).
The gatekeeper is someone who has been hired because they are sharp, they are responsible, they are knowledgeable and have authority. Treat them as such, they are not a means to your end. Listen to this episode to hear a real-life example of how I created a lasting friendship with a gatekeeper named Mary, and take note of how you can use my approach for the gatekeepers you encounter.
If you are working with your gatekeeper you're going to need to know how to gain the attention of their boss, the senior executive you want to speak to. The best way to do this is to think of what is important to that executive? You can do this by answering the three most common questions executives ask themselves: What problem does this solve? Why do I need it? And what is the likely outcome or result if I move forward with this?
Speak to those questions and share what problem you solve, why it's important to the client and the possible end result. By approaching the gatekeeper with that information you've made it known you value the client's time and you genuinely care about your client's needs. Clearly this will take some advanced research on your part but that is your job as a sales person: know your client and their needs.
Finally we wrap up this episode by talking about BANT and why it no longer works, and the hidden question executives ask themselves. Both of which you'll want to hear about so listen in to this edition of Grow My Revenue.
Discover more at http://www.growmyrevenue.com/business-cast/
033 Yanik Silver | Evolving Your Enterprise - Doing Good Is Good for Business
If I told you having a business that does good in the community can actually grow your bottom line would you believe me? It's the truth and the man here to back that up is ultra-successful digital marketer and repeat best-selling Yanik Silver.
On this episode of Grow My Revenue Yanik shares what he means by the term evolved enterprise, why he wrote a book on that subject and why it is the business model of the future. This is an eye-opening, thought-provoking episode you won't want to miss, it'll change how you look at your business going forward.
Listen to this episode and discover:
- What does corporate social responsibility mean?
- What motivated Yanik to write the Evolved Enterprise book?
- Is there a link between boostrapping a business and your creativity? Yanik explains.
- Do companies with culture outperform the S&P 500?
- Why we are hardwired to support businesses with real purpose.
- And so much more…
Episode Overview
If you've never heard of Yanik Silver you've missed out on an incredible businessman's journey. He got started online in 2000, the early days of the Internet and he quickly found remarkable success. Eight years into that journey he had earned in the millions and had published several books, all the while helping thousands of people.
But one day he asked himself a simple question: "Am I really happy?" The brutally true answer was no, he was not. He felt there could be more; he could be giving more meaningful work to the world. So he spent time journaling and sorting through what to do next.
From there Maverick 1000 was born. He created a company that combined fun things he liked to do as a kid, with ways to grow businesses and also serve his community by contributing to charities. He invited his friends and business partners to participate, that was part of the fun. They went off on an adventure, spent time talking business growth strategies and then made sure to give to a charity through their participation fee.
Over time he changed up the business model a bit and tweaked things to become what is the present day Maverick 1000.
His book, Evolved Enterprise, also came from that experience. He believes the premise of the book, aligning the soul of your business with more impact, more meaning and more happiness will invariably produce more profits, is the business model of the future.
On today's episode we discuss why businesses should embrace this concept now or they'll be left in the dust within 4-7 years. He also highlights some of the biggest mistakes businesses make when trying to do good in their business and their community, and plus the first steps to take to turn your business into an evolved enterprise.
A few of the mistakes Yanik sees businesses making when trying to do good internally and within their community is the language they use. Look at the most common description used today: corporate social responsibility. Does that sound like fun? Does it sound like something people get to do, or is it something they have to do? It sounds like an obligation, something they have to do. And that isn't going to inspire hearts and minds to embrace the experience!
Yanik gives some great examples of companies already doing this as well as a company that didn't do this well: Kentucky Fried Chicken and its pink buckets for breast cancer. He shares why this didn't work for KFC and how to avoid falling into the same trap with your business.
He also gives three steps to start with when becoming an evolved enterprise plus the greatest lesson he has to evolve your enterprise, and how this business model ties into the millennial community so strongly. There's all of that and so much more in this episode of Grow My Revenue with Yanik Silver. Tune in, it's well worth your time and attention.
Discover more at http://www.growmyrevenue.com/business-cast/