how to fill your sales pipeline & keep it full presented by: october 2013 2013 copyright ©...

2013 Copyright © IMPAX Corporation

How to Fill Your Sales Pipeline & Keep It Full

Presented by:

October 2013


Growth Imperative

• Growth = survival• No growth = declining• Retention isn’t enough


Sales Pipeline

• Critical to growth• Far reaching impact• Often insufficient• Continuing challenge


Sales Pipeline

• How consistently are you in front of enough new prospects each month?

• Prospecting “Crap Detector”


Imagine…

• 20 to 60 additional meetings with prospects/year per producer

• 15 to 20 meetings with prospects/month per new producer

• What could this mean to you?• What if this was true every year?


Session Highlights – How to:1. Get more prospect meetings in one day than your sales

team did last quarter

2. Avoid 7 common prospecting mistakes

3. Prioritize prospects to make selling easier & improve results

4. Handle 3 of the most common prospecting objections

5. Set your self apart/sound different than your competitors

6. Deal with voicemail & call screeners

7. Promote & sustain a more proactive sales culture

8. Build confidence & competence fast


How to Fill Your Sales Pipeline & Keep It Full

Presented by:

October 2013


What are the greatest barriers to an effective prospecting/cold calling effort to business or commercial prospects…

• For producers?• For agencies?


Barriers for Producers

• Voicemail• Call screeners• Too many similar calls from competitors• Sounding different• Low conversion ratio (too few appointments)• Fear of rejection• Lonely• Many other things to do

• Voicemail• Call screeners• Too many similar calls from competitors• Sounding different• Low conversion ratio (too few appointments)• Fear of rejection• Lonely• Many other things to do


Barriers for Agencies

• Getting producers to make it a priority• Creating accountability• Tracking & measuring• Providing effective tools & methods• Coaching• Making it engaging vs. painful


Perennial Barriers

• Predictable• Resolvable• Avoidable • Self-induced


Self-Induced Barriers

Product focus The usual suspects“Me too” messagingInsufficient preparationToo few callsSelf-directed & solitaryBlind spots


Critical Success Factors

• Differentiating process• Unconventional calling strategy• Preparation & practice• Events vs. intents• Measurement & self-improvement


Differentiating Process

AskBeforeTelling

Understandthe Customer’s

Business

Be Systematic

Present inThem-Us-Fit-Action

Flow

Match Solutions to Customer

Needs


Unconventional Calling Strategy

• Research up• Request a different kind of meeting• Expand contacts• Focus on results• Rethink qualification



Research UpTraditional• Top down

Differentiating Approach

• Research up• Sell down



Research UpTraditional• Top down

Differentiating Approach

• Research up• Sell down

How many chances do you get to make a good first impression?



Request a Different Kind of MeetingTraditional • Sales appointment• Time to talk about your agency• Chance to quote your insurance• Easy to say “no”



Request a Different Kind of Meeting

Differentiating Approach• Opportunity to learn about them– Ask vs. tell– Learn vs. sell– Advance your understanding of their business &

priorities• Confirm• Expand• Broaden• Deepen• Update



Request a Different Kind of Meeting

Differentiating Approach• Appeals to ego• Lowers perceived effort• Reduces pressure & risk• Expands potential contacts



Expand ContactsTraditional• Controller• HR• CFO• Owner



Expand ContactsTraditional• Many evaluators & gatekeepers• Difficult to reach• Get all the calls• Highly resistant• Likely to commoditize you• Often recommended the incumbent



Expand ContactsDifferentiating Approach• Warmer connections (regardless of role)– Know something about the company– Know other people in the company

• More of them• Easier to reach • Overlooked by competitors• More likely coachesWho are the “users” most impacted by your solutions & services?



Focus on ResultsTraditional• Emphasizes insurance/what you sell• Sounds like everyone else• Elicits knee jerk reaction• Risks being seen as low priority



Focus on ResultsDifferentiating Approach• Results-focused– All organizations want them– Everyone has a stake in them– Sidesteps immediate objection– Harder to pigeon-hole– True!!!

• What results does your agency help customers achieve?



Rethink QualificationTraditional• Focus on– Incumbent relationship– Problems with current program– Willingness to make a change

• Drawbacks– Self-focus– Problem-solver mentality– Limiting– Often misleading– Transactional



Rethink Qualification

Differentiating Approach• Quality of Coaching• Quality of Information• Strength of Gatekeepers POWER

FACTORS


Preparation & Practice

• Data before information– Data = publicly available facts & figures– Information = insider perspective

• Research key industries– Create a 1-page snapshot• Profile• Objectives• Strategies• Issues

• Visit company website



• Identify a few key data points– What they do– Specifics to ask about or comment on

• List & prioritize potential contacts– People you already know– Others listed in the data

• Always have a fallback person/role to ask for



• Write out your plan – How you will:– Handle screeners & voicemail?– Ask for the meeting?– Deal with objections & questions?

• Resist the urge to “wing it”• What are the benefits of knowing what

you’re going to say?



Handling Screeners & VoicemailCall Screeners• Be minimal• Keep it brief• Say no more than you must• Avoid volunteering extra information



Handling Screeners & VoicemailVoicemail• Listen to the entire message the first time• “0” out to get to a live person• Ask for a fall back position• Try this message:– This is (name) with (firm name)– I have a few questions I’m hoping you can help me

with.– Please call me back at (number).



Asking for the Meeting

• Purpose– Identify yourself and your association with their

company• Benefit– Create a statement of what’s in it for them

• Request– Make a specific request



Dealing with Objections• I’m not the right person• What are you selling?• Happy with my current agent/broker



Dealing with Objections• Explore – Determine what’s behind the objection– Ask an open question

• Assure – Use “feel, felt, found”– I understand how you feel.– Others have felt the same way.– They found that…

• Direct– Restate the action you want them to take– Schedule the meeting



• I wish I could say it like that.• Practice, practice, practice



• I wish I could say it like that.• Say it 500 times and you will– Record yourself & play back– Listen for • Clarity• Energy level• Rate of speech• Confident tone


Events vs. Intents

• Wisdom of Tyson• Critical Mass Practice• Power of Teaming• Sustainability


Events vs. Intents

• Block the day• Leverage the team• Share successes• Create accountability• Scoreboard results• Repeat regularly


Events vs. Intents

Prospecting Day Structure

• Full day• Sales meetings• Tracking• Success alerts• Coaching• Awards for top performers


Events vs. Intents

Actual ResultsDate Producers Reached Meetings Conversion

3/5 12 98 63 64%

5/22 11 104 63 61%

7/25 14 146 72 49%

• More meetings in 1 day vs. prior quarter • 10% of new business goal from 3 days• $1 million in revenue attributable to 4 days• Largest account of 20+ yr. career


Events vs. Intents

Actual Results

# Producers # Meetings Avg. # Mtgs13 339 2617 420 2512 287 249 222 25

18 530 29

Five-Day Cold Calling Boot Camps


Measurement & Self Improvement

• Correct inaccurate perceptions• Better understand what you’re dealing with


Measurement & Self ImprovementCalling Activity & Results

• # Reached• # Research Meetings– Scheduled– Conducted

• # New names (contacts)• # Bad calls


Measurement & Self ImprovementPeer Coaching & Call Recording

• Listen to others• Have others listen to you• Record yourself


Fill Your Sales Pipeline & Keep It Full

• You can improve your future• Most of what’s necessary is in your control


Fill Your Sales Pipeline & Keep It Full

• Differentiating process• Unconventional calling strategy• Preparation & practice• Events vs. intents• Measurement & self-improvement• Decide & get started


Questions & Further Information

Trade Show

Ira KasdanIMPAX [email protected] Office 941-748-8160Cell 612-310-4438

mailto:[email protected]

how to fill your sales pipeline & keep it full presented by: october 2013 2013 copyright ©...

Documents

copyright impax corporationhow

new prospects

businesscommercial prospects

sales team

greatest barriers

prospecting crap detector

sales pipelinehow

common prospecting mistakes