Episode 215 We have to Learn before we can earn.

Create Sales meetings in minutes. Lisa Thal is an Author, Speaker, and Business Coach. She has over 36 years of marketing, sales, and leadership experience. She wrote the book "Three Word Meetings."  Lisa coaches leaders on creating sales and business meetings with fun and interesting 3-word topics to create a conversation and inspire your sales team.

 

Episode 215: We must learn before we can earn!

 

I have a few questions for you. How is your business? Could it be better? Could you benefit from having more clients? Do you have a strategy to replace your top clients if they go away? 

 

It doesn't matter how long you have been in business; there will be a time that you will lose a client to no fault of your own. So, to protect your income, you need to have a consistent game plan for attracting new clients. Most of us wait until we lose an account and then try to hurry up and make new calls, only to discover they may be working with another vendor or don't need our product or service.   

 

Whether you are in sales or management, my goal is that you have a strategy so you stay in control of your business and income.  

 

This exact situation happened to one of the sellers I am coaching. A significant account had to pause its marketing campaign due to a United Auto Workers strike. A problem either had control over. We would talk in our coaching sessions about what would happen if this account stopped spending with you. It would impact her income significantly, for one. 

 

What can we learn from this?

 

One thing is that we need to continue to find ways to create new customers. One of the fastest ways is to look for introductions from current clients and business connections from friends and family. 

 

Another way is to call on companies that we can help. Calling on new opportunities can be incredibly effective if you do it right. It allows you to go directly to businesses instead of waiting for them to come to you.  

 

As a business owner or salesperson, cutting to the chase and getting customers on the phone can save you time. While there are many benefits to building out marketing funnels and inbound leads through email, calling someone directly bypasses those steps.

 

What are the best ways to prepare for the call?

 

Every business has two types of demand. Short and Long Term, and they both have a purpose. Short-term are the existing opportunities these companies have, representing about 5-15% of the market—someone who is ready to buy today and has a need.

 

85-95% of people fit into the Long term bucket, future demand. People are not in the market today but will be in 6 months to a few years. Building brand recognition is meaningful, and making them more familiar with your company is critical so that they think of you when they are ready to buy.

 

For example, Like a Good Neighbor, State Farm is there. They understand this precisely because they know they need existing and future demands to keep growing their company.

 

Guess what, so do we. We need to understand that we have existing customers who need us today and that we also need to create future clients for us to keep growing.

  The goal is to learn before we earn.

We must approach each call as a learning experience. The goal of the first call is to have a conversation with a decision-maker to see if we are fit and if our prospect needs short or long term help. There is an opportunity to learn from each call. The main goal is to understand what other challenges they may be facing so that we can provide solutions. 

 

It starts with preparation. There are three tips to making sure you make the most of those calls.

 

Step One: Focus on the Right accounts.

We must understand who our ideal prospect is so we don't waste time reaching out to those we can't help. Review your account list to see if there is a pattern of success in specific industries. What is the average spend with these accounts? Many of us have the best intention to help clients only to discover they need more resources for you to help them.

 

By targeting this way, you're more likely to reach people interested in what you are selling. You'll save time and get better-quality prospects on the phone.

 

Step Two: Be resourceful.

Why are we calling on them? What have you read or researched about this prospect that warrants you reaching out to them?  

What do you know about them or their industry? We must leverage all our resources to see if we are a fit. What value can we provide to them that other vendors can't? 

It all starts with a conversation.

 

Step three: Schedule time to make the calls.

You can only help new clients if you create a conversation to see if you can help them. We also understand that sometimes it's a timing issue. Therefore, we must have the mindset that our calling has a purpose. To do this consistently, we have to schedule time on our calendars. It will improve your probability of conversing with a new potential client.

 

 

Remember, only some people are fit; be resourceful and have a purpose for the call!

 

 

Thanks for joining me this week. Could you do me a favor? If someone can benefit from this episode, share it.

 

 

Create engaging sales meetings in minutes! 

My easy-to-use process can quickly create impactful meetings tailored to your team's needs. 

 

Learn more at www.Threewordmeetings.com.