Brandon L. Clay's Blog, page 23

Closing In On The Answer!

Did you take a look at your last few direct mail or lead generation results?  C'mon...the truth won't hurt...I promise it will help!   If you did, it is time to take a look at how you are performing.  Easy stuff first - Close rates!  Closing rates are like I.Q's, your age or your weight...it seems to change each time you say it.      For example, I was on the phone with an agent just today and they told me they close 60%.    "Outstanding!  What can you do to increase that batting average?" I asked.   "Tell me how to stop these dreaded "no shows"...they are killing me!" he responded.    "No shows?"    "Yea...you know, when you drive all the way out to the house and nobody's home!" they answered with a voice of frustration.    "Are you paying for those no show leads?" I inquired.    "Most times...yes, but I close 60% of the people I see.  That's good...right?"     Here we have a classic case of overstating results and understating the dilemma.  This agent was getting 10 leads from 1,000 mail pieces...right on average of 1%.  We can live with that.  But he was only getting in to see 5 people - a 50% no show rate!  We have to dig deeper into why.    Is it his appointment calling approach?  Is he trying to sell the product over the phone rather than sell the appointment?  Is the free offer drawing the wrong type of prospect and skewing his results?  Is it something else?  While there are many reasons for his no-show rate to be high, the real problem is that he didn't include them in his close rates, he had no idea of the cost of each lead, or his cost to close.  Do you see that monitoring results can help you become more effective... productive... profitable?  He is right about one thing...closing 60% or 3 sales each week makes him very effective once he actually gets in front of a prospective client...  He just has to find a way to get in front of more opportunities based on the money is spending... yes, his money.  But once he starts to review the performance of direct mail, the appointment conversion rate and his selling rate he will be...   Closing in on the answer!!!   Until tomorrow, I wish you Money, Power, Success!

It's Only Money!

Do you have kids?
If not, for a few moments pretend you do! They are going to Wal-Mart to buy school supplies and you give them $100 (cash) to buy a list of items you think will cost about $60. They come home later, you ask for the change and they give you $6.32 back...  "WHAT HAPPENED!", you asked angrily. "Well, a few of the items weren't available so I had to buy higher priced ones," they begin with a straight face.   "Plus, I saw some adorable charms to go on my bracelet and just had to have them." Fuming...you compose yourself and say ever so calmly,   "How Dare You Waste My Money Like That...You  Wouldn't Have Done That If It Was Your Money!!!"  "Oh dad, it's only money...", kiss on cheek and with that she skips off to her room.  "Yes...but it is My Money!"   Are you watching the money you spend on your business the same way?   I hope so.   If you are one of the rare sales people that actually does direct mail or pays for any form of marketing, you should be watching your money with the same level of attention as the scenario I just gave. If you use the "science" of direct mail (The Law of Large Numbers) and don't monitor the results, you could be overpaying!!!   For example,   If you drop 1,000 pieces of mail each week and pay $400 for it and only look at the sales you get each week you are only getting part of the story.   How is the direct mail performing?      Scenario #1 Scenario #2 Scenario #3 # of Mail Pieces 1000 1000 1000 Cost $400 $400 $400 Response Rate 1% .6% 1.5% # of Opportunities 10 6 16  Cost perqualified lead 400/10 = $40 per lead $400/6 =   $66.67 per lead$400/15 = $26.67 per lead   Are you tracking response rates and cost per qualified lead?  What would you do if you got the results from scenario #1? I would say I played to the "science" of marketing odds and keep doing it! What about scenario #2? I would "Evolve" my marketing approach...my list, income ranges, zip codes, the piece I am using...SOMETHING!  I have to average the industry standard or I am paying too much! Scenario #3? Jump for joy!!! How will you know what to do (managing) if you are not watching like a hawk (monitoring)? Realize that while it's only money... IT'S YOUR MONEY! Until tomorrow, I wish you Money, Power, Success!

Give First...Get Later!

Can you tell from the last few days I am in a nostalgic mood?I know it is from the flood of testimonies I have gotten where something I said helped someone "make it through".That is the reason I do this!I just spoke to someone who is brand new to sales and trying to make a go of it. He asked, " How do you make it when there is so much on the line and the money is not guaranteed. I'm scared but don't want to give up. Have you ever felt like that?" Have I? I recall one of my positions selling residential alarm systems. It was commission only, we were broke and had our first child on the way (sounds like Matt from Sales Crumbs from the Master's Table, huh? Or you?) They paid me $200 a month (you heard me!) in gas allowance and it had become "do or die". Entering the 5th week, I had not sold one system. I was still "upbeat" but privately I cried in the car - I would have to sit for hours so not to waste gas.I was determined to succeed and held on to honesty and integrity in my presentations - though it appeared the successful people at the company did not. Through persistence, at the end of that 5th week, I sold my first system! The next week, I sold 4 and the next week...8! I began earning $800-$1,000 a week.Wow!How? Give first...Get later. Give. We had weekly meetings where the sales people and telemarketers would review the week together and applaud the "winners". After one meeting, I was talking to one of the ladies who was an independent contractor setting appointments from home. She was struggling and in 45 minutes she told me "blow by blow" how bad it was.I listened...really listened.I emphasized...really emphasized - because I could...and I did.In a flash of revelation, I asked her about taxes. She had not filed in 3 years and claimed "exempt" on W-9's so as not to have any money withheld - she needed every dime. I filed the three years for her and she got $6,000 in Earned Income Credit for her children. You didn't know I was so smart...did you? GET. She began to "preferentially" set up my appointments knowing that I would treat the clients well and close the sale. The other telemarketers began to favor me as well. For the next 6 months, I was the top sales rep with ease! The company eventually went out of business, but I had more confidence in my abilities and developed skills that serve me even to this day.Most importantly, I realize that God "winks" at me through a series of random events where He is waiting on me to GIVE FIRST... Get Later. Until tomorrow, I wish you Money, Power, Success

How Ya Doin...Really?

How are you doing?  "Fine" or "ok" is the typical response.  Even from a long faced child or angry spouse!  If you are in sales and I ask that question, you might tell me that you got a sale yesterday from a referral from a sale last week.  Congratulations! Great job!  Ok...How ya doin...really? (best New York accent!)  Most sales people can't tell you how they are really doing.  What do I mean?    Beyond the final tally of sales for the week can you answer the following questions?  How many opportunities did you have?  What was your closing rate?  If you are buying leads from a lead source what is your cost of acquisition and cost to close?  Is your book of business centrally located in a spreadsheet or CRM tool?  Have your reconciled your 2013 book of business for tax season?  Do you even know your book of business?  Ok...enough...  Some of you can answer ALL of these questions (great!) and some of you can't answer ANY (yikes!)!  That is ok...for now.  Truth is, it will be hard to manage what you don't monitor.    I know sales people all across the world (ok, US, Canada and the Caribbean and one person in Australia/Singapore!) that are engaged in daily activity and can't tell you the effectiveness of that effort.  Money is being spent on leads, advertising and marketing and the results are "unknown".  Your hard earned money and effort should be measured so you can reap greater rewards from profitable and effective areas and shut down things that aren't working.  How do you get started?  Review your results at the end of each day and week.  Most sales people don't do daily/weekly planning or any real review. They simply judge their week/month by the final tally - sales.   You have to monitor and measure the various components of your activity, so you can begin to modify approaches as necessary.   The best way to increase sales is to "Evolve" that which challenges (isn't working well), and "Expand" that which works....do more of it.  You won't know which areas arent working or what is working if you don't "Inspect what you Expect" (you had to know that cliché was coming!).  It doesn't have to be sophisticated to start with...tic marks and tally's are ok...for now! One last time... How ya doin? Until tomorrow, I wish you Money, Power, Success!

Somebody Oughta Testify!

Happy Monday!Make it to church yesterday? Did anyone give a testimonial? They used to give them when I was a child. The microphone would be set up off to the side of the pulpit and at the appointed time...It was 'open mic" at the church.While I didn't understand it, everyone would clap,cheer and shout "Amen". (Do they allow talking in your church? - Ok, not important!)Fast forward...Each day, I do one of these daily Sales Crumbs...it is a labor of love, but these things don't type themselves (ok, some days they do!)...but each day at least one person shouts out an "Amen".Each Friday, I do a video I call Full Fashion Finish Strong Friday. Cheesy? Perhaps, but each week someone calls or emails me to tell me they "needed it".Share your successes with others! Someone around you needs your testimony. Their tank of enthusiasm is empty and their reserve tank of persistence is almost drained...you can become their "filling station"! Get to know the people around you. While sales is an "individual sport", we all need human interaction. The sales profession is also a fraternity - where we can empathize with each other - our trials, tribulations and triumphs.That is the essence of Connection - to be there when someone (yes, even strangers) needs us and, in return, we can expect someone to be there for us in our time of need. I asked you yesterday if you could remember your first sale and if you would share it with someone who needs it. Today somebody does! Share a little "Sales Crumb" of your life with them today and help them make it through... Somebody oughta testify!... Today, it oughta be YOU! Until tomorrow, I wish you Money, Power, Success!

I Remember My First Time...Do You?

No...not that first time! (This is a family blog!)Can you remember your first sale? Maybe you are still waiting for it! It is an exciting event and most professionals can recall with great fondness how they "broke the seal" on their sales career. If you are still in hot pursuit or you are a seasoned veteran, I want to take a few minutes to guide/remind you of what it takes to be a professional.Take great care when preparing and presenting your solutions, products and services. Think of how much energy and resource has gone into getting you to this "moment of truth" - you want to make the most compelling case possible. Until you are consciously competent, have someone review your proposal or presentation before you present to a client. Remember yesterday's reminder to seek coaching or mentoring?When you are presenting your solution , engage the client's voice in the proceedings. If they have acquired knowledge about your product that they want to express or even concerns...let them. You shouldn't lose control; you are simply "sharing the stage". The most experienced sales professionals understand that many clients will "sell themselves the product" through inclusion into the sales presentation! Do a thorough job of explaining the product. The key benefits uncovered during the Relating process that will be the focus since they address the core needs. That is the steak. Revealing the additional features that might not have been vital can be the "sizzle". No one wants to have a prospectus or manual read to them, verbatim, but in explaining more than is required you insure that the product you sell is the product they expect and the product they get .For the seasoned professional, it is important to stay rooted in how you became successful through the struggle to your current success.. The best way to stay humble?Always remember your first time...and Be willing to share with it the "newbie" who is anxiously awaiting their turn...their first time! Do you remember your first time?  I do!Until tomorrow, I wish you Money, Power, Success!

Spock's Brain...Or Mine?

What do you get when you read a book?  Watch a YouTube video on how to hang sheetrock? (ok, I will admit my wife is the real household engineer!) When you get that great recipe from a Food Channel chef? You get their brain...  As many of you know, I am a big fan of Star Trek  - as the "Get Your Captain KIrk On" video I just released should attest.  While I am not a bona-fide Federation Trekkie, I am a vintage episode aficionado. In a episode titled "Spock's Brain", inhabitants of a alien planet hijacked Spock's brain to run the computer that controlled their civilization. 
What part of your business, sales development or your life could be instantly "transformed" by borrowing the brain of a subject matter expert...or dare I say coach? Do you need better lead and business development techniques?Do you need more in-depth product knowledge?Do you need more effective closing ability?  Borrow someone else's brain!
That is what I did when I consulted with someone who knew more about books and marketing them than I did. I have always been a proponent of self-development and paying for knowledge, wisdom and tactics that could make me more effective. You should do it too...
There are several benefits from seeking out help from someone who 'knows the ropes";It speed up progress by eliminating trial and error.It allows you to set up predictable markers of progress as you follow the course of action outlined and their expected results.It gives you a higher degree of "faith" in your actions and results because you are under the watchful eye of someone who as "been there...done that"My recent success with my first official Amazon Kindle Direct Publishing effort has doubly sold me on the notion of hiring the brain of an expert for the achievement of a broader author's platform. Now I am ready to turn my attention back to the weakest link in my life...golf!  What benefit could I derive by having a PGA coaching professional watching over my 3 foot putts? What area of your business and life could benefit from coaching?  I encourage you to seek out that help, accelerate your progress and help you reach the next level. Is it financial advice you need, a personal fitness trainer, or a sales guru? (hint!) What you need will determine who you need ...
For what you want to achieve whose do you prefer...
Spock's Brain...or Mine?   Until tomorrow, I wish you Money, Power, Success!

It's An Amazon Jungle Out There!

I recently had a book, You. Change. Now! ranked #2 in Self-Help/Motivation in Free Kindle books It was Ranked as high as #74 in Non-Fiction and  Ranked #340 out of 68,000 total books in Free Kindle library!  Impressed?   You ought to be...4 weeks ago I had no clue how to even upload my book to Amazon.   What did I do?I borrowed someone else's brain... Why?...becauseIt's An Amazon Jungle Out There!

Ever get to the point in your life, you have had enough of your own excuses?  Ever decide that those last 10 pounds have got to come off?  That you will make six figures in an industry that is exploding with opportunity...like sales?  Well, I had such a moment a couple of months ago.  The past couple of years, I had distributed 1,000's books and programs, had spoken live at dozens of events and people all said "You should be on a national stage." Modesty aside, I am one of the best story-telling inspirational & instructional self-development personalities I have ever seen.  I have watched them all and thought "I can do that at that level".   Being able to do it and gaining access to the "big break" are two totally different things.    This year, I wanted to get single-mindedly focused on my goals.  I had great content in books, a dynamic personality (ok, it is time for modesty now...sorry!) and resources to begin building a platform.  What did I do?  I hired a 'book whisperer".  A mentor for authors looking to build a platform.  The first thing he asked:  "What are you doing to separate yourself from the herd of talking head and thousands and even millions of people who want to do the same thing?"  I began," I have trained over 35,000...  "Blah, Blah, Blah", he interjected.  "Why are you different and why should I let you do this for me rather than the countless others I could choose from."  Silence.  That has happened only twice in my life...the first time I was 14 years old tying my shoe when the love of my life said "hello" in the hallway.  For all my sales & marketing experience, bravado, and confidence, I really didn't know what was going to set me apart.  At least not something I could quickly put into words.  I could sell rings around this guy "on my turf", but books was a new arena.  Unchartered territory...does anybody feel me?  As the silence became deafening, and it was obvious he wasn't going to speak first (he should have been in sales!), I said,   "My books are fantastic and they will speak for me."   He took a moment to reflect on what I had just said and in what seemed like minutes said,   "You are right...but it's an Amazon Jungle Out There."   What did I do next? The same thing I will ask you to do...   I borrowed his brain!   Until tomorrow, I wish you Money, Power, Success!

You Referring To Me?

In a world where people can turn down a "friend request" on Facebook, how willing is your client to put you in front of their "real friends" if you have not merited the platform? Once they are confident in you as a sales professional, and the product has performed, you are in a powerful position to ask for the next sale, or leverage their social networks to cultivate more opportunity. Is it worth all of the effort?Of course it is! What is the close rate of referrals?Infinity and beyond...yes, it's that good!Secret #5 - Ask For Referrals!The most powerful introduction a client can make is to another potential client. There is an automatic transference of credibility and rapport. As a result you become elevated from a sales professional to trusted advisor - then you are a true part of their lives.I know that classic, traditional sales training dictates that you ask for them immediately once the sale is consummated. Certainly, under the right conditions clients would be in such a state of euphoria that they will provide them. Some will be too nervous to provide them so quick without "proof in the pudding".I personally prefer to obtain them once I have demonstrated a high level of professional excellence and the client is happy with the product. Believe me, if you satisfy the client and reinforce the sale through service, they will open doors to their family, friends, colleagues and co-workers in a way that business meets you at your desk every day. Then you transition from a producer to a cultivator.Thank them, personally, for every opportunity they send you. Even if that referral doesn't become a client, showing appreciation and gratitude are vital. Gratitude and appreciation sets you up for additional opportunities.Does this exchange sound familiar?"Mr. Jones, thank you for referring Ms. Smith. I have already reached out to her and will be meeting with her on Friday. I truly appreciate you helping me fulfill my mission of (fill in your mission).""No problem Brandon, by the way, there are a couple more people I want to refer to you...do you mind calling them too?'It will get to the point that as a cultivator, you won't even have to ask...they will happily provide them and you will have business meeting you at your desk... every day.You referring to me?I hope so...remember...  "As you serve...you deserve" That is my goal for you...Until tomorrow, I wish you Money, Power, Success!

Sell. Reinforce. Repeat!

The key to cultivation is understanding that the client "in your hand" beats the two that are "in the bush". Current clients give you the opportunity for repeat (add on) business. Sadly, most people do not keep in contact with their clients - largely defeating the purpose of calling them clients!Secret #4 - Getting Repeat Business from Current Clients!If you sell cars, the chances of calling your clients a week later and getting them to buy another one today is not good...or wise. You can ask for referrals (more on that tomorrow!)What if you sell jewelry and a groom just bought an expensive engagement ring for his bride to be. Wouldn't it make sense to get the wedding date? Call him before his first anniversary and show him the matching earrings?If you sell a family of products, is it possible that something else you offer could be of value to them right now...or in the future...tomorrow's sale?I have worked in insurance for many years and while the companies I worked for typically sold one product, the agents that represented us were able to sell a complete portfolio of complementary products. But most were "one trick ponies" selling one product and leaving another sales person to come in and finish what they started! If you needed several products to meet your expanding needs and desires, which would you prefer...One Trusted Advisor who could help/direct you with all of them...or a parade of sales people coming in and out of your life...all selling one thing?You are not piling on or selling needless things to people just for commission - you are consulting and advising on things they are buying anyway...why not from you as the Trusted Advisor?It only makes sense for everyone...right?The 20% are doing it...that is why they are the 20%!!!Don't believe me?...ask them!If you remain in contact with your clients, along with the referrals (again, tomorrow!) you will receive, you will get the call that their needs have changed. Or in your annual reviews of their situation, you determine there is a better solution for the changing times. While some people will be set for a lifetime with your solutions, others will have life changing events...births, deaths, marriages, etc. Who do you want them to think of at these critical stages in their lives?You want to position yourself in the minds of your clients as their "go to" resource. They may not need you for years, but when they do, you should be there. True sales success lies in providing solutions and servicing that solution for a lifetime. It is a commitment...Sell. Reinforce. Repeat!Until tomorrow, I wish you Money, Power, Success!