Mark Jewell's Blog: Selling Energy, page 208

Weekly Recap, August 5, 2018

Here are our favorite sales tips from this week's Selling Energy blogs...

Meeting a New Prospect?

When you’re in a new sales situation, making a good first impression is crucial. Even if you’re an expert in your product or service and you understand how to sell to your customer, a sale can be ruined by a bad first impression. Here are some things to keep in mind when meeting a new prospect:

Arrive on time (and ideally early).
Dress appropriately for the situation. Over-dressing is safer than under-dressing; however, consider the environment and dress in an appropriate manner.
Smile! This puts the other person at ease in the situation. It is possible to smile too much, so make sure it’s genuine and don’t overdo it.
Be confident. Give a firm handshake, make eye contact, and stand tall.
Be human… and interesting. People feel more comfortable when they meet another person who demonstrates truly human characteristics.
Talk more about the other person than yourself.
Use the other person’s name. This makes them feel acknowledged and important. If you learn other names in your first meeting with a person (such as the names of their family members, pets, etc.), use these names in future interactions. This shows that you remember the people and things that are important to that person.
Be positive in everything you do and say. Negativity does not add to your appeal as a person.
Demonstrate your sense of humor. This helps relax the other person. Be sure to avoid lame jokes and don’t try too hard to be funny – this can actually detract from your appeal. Just let your innate humor come to the surface.
Find a connection. Remember, people have better long-term memory if they draw a connection between what is being said and their immediate life. Find a connection with the other person (e.g., mutual interests, friends, experiences). This can lead to further conversation that will increase your appeal as a person.
Before you leave the first meeting, write three things on the back of the person’s business card: where you met, something you discussed so that you can have a smooth transition in your follow-up communication, and what the next action step should be.

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The Problem with Brochures

There’s no glory in sending out brochures.  In fact, things change so often in this industry that dedicating time to designing, printing and distributing them can be counterproductive.  As soon as you get them into your prospect’s hands it’s only a matter of time before your information is out of date and ultimately forgettable.

What’s more important is presence.  If you’re going to allocate money and staff time toward establishing this, you should put your efforts into putting it all online.

The reasons are obvious.  The web is ubiquitous and accessible.  People can access it on their smartphones, tablets or PCs.  You can call it up in real time for a prospect, whether that person is physically with you or simply on the phone.  All that needs to be said is, “Hey, let’s go to our website.”  This is the same as putting a brochure in somebody’s hands, only better, since many people can be invited to share in the visual display regardless of where they are in space.

Another important advantage that online pages have over brochures is the ability  to adapt and improve your site as your company grows or changes.  Even if you’re a small business, an investment in a web presence goes a long way.  Get yourself a better designer and a clean, easy-to-navigate site.  Get some testimonials on display and a clear statement describing your offerings.

Why print a brochure that may or may not get read when you can deliver something instantaneous, impactful, and perhaps even interactive?

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Don’t Network, Be a Superconnector

When it comes to networking you often hear the same thing: “It’s a jungle out there.”  For many sales professionals that’s the case, and if you’ve ever been to a networking event it might seem like a lot of work with no guarantee of satisfaction!

It doesn’t necessarily have to be this way.  I have been asked for networking tips on several occasions, and I always maintain that you should start with yourself.  Ask yourself these questions:

Do you remember why each of your networking interactions were important?
Did you often feel distracted, focusing more on who to talk to next?
How do you know which interaction had the most potential?

If these questions hit close to home, Scott Gerber and Ryan Paugh’s Superconnector is essential reading.  But here’s the thing- they don’t want you to network.  They want you to connect with who you’re talking to.  Whether you’re an introvert or an extrovert, there are methods to improve how you’re speaking to others, asking them questions and exercising your generosity.  By combining old school methods with cutting edge social media tactics, you’ll find yourself using more than business cards and LinkedIn connections to get the ball rolling.

Here is the summary from Amazon:

“Abandon the networking-for-networking’s-sake mentality in favor of a more powerful and effective approach to creating and enhancing connections.

“STOP NETWORKING.  Seriously, stop doing it.  Now.  It is time to ditch the old networking-for-networking’s-sake mentality in favor of a more powerful and effective approach to creating and enhancing connections.  In Superconnector, Scott Gerber and Ryan Paugh reveal a new category of professionals born out of the social media era: highly valuable community-builders who make things happen through their keen understanding and utilization of social capital.  Superconnectors understand the power of relationship-building, problem-solve by connecting the dots at high levels, and purposefully cause different worlds and communities to interact with the intention of creating mutual value.

“How can you become a Superconnector?  Gerber and Paugh share instructive anecdotes from a who’s who roster of high achievers, revealing how to systematically manage a professional community and maximize its value.  Of utmost importance is practicing Habitual Generosity, acting on the knowledge that your greatest returns come when you least expect them, and that by putting others’ needs first the good karma will flow back to you tenfold.  Gerber and Paugh also explore winning strategies such as The Art of Selectivity, a well-honed ability to define which relationships matter most for you and decide how you will maintain them over time.  Full of helpful advice on how to communicate with anyone about anything, Google-proof your reputation, and much more, Superconnector is a must-read for those seeking personal and business success.”

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Weekly Recap, May 20, 2018

Monday: Read  Never Lose a Customer Again , by Joey Coleman, on how to turn a one-time purchaser into a lifelong customer.


Tuesday: Read some tips to keep in mind when writing a proposal.


Wednesday: Explore how to overcome the common objection, “We don’t have the money.”


Thursday: Read on if you want to increase your closing rate.


Friday: Explore how to address “The Killjoy” during a meeting.


Saturday: Check out this article for “11 Habits of Remarkably Likable Bosses.”

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Habits of Well-Liked Bosses

If you manage a team of employees, your trust and engagement have major impacts on the success of your company. A team that misguided by leadership or simply disengaged can waste hundreds or even thousands of man-hours. Moreover, if employees do not feel appreciated, they may not be great advocates for the company.

So what can you do to ensure that you’re helping your employees and guiding your team in the best way possible? According to an article published on the Inc.com blog, there are 7 simple habits that will get you there. If you’re in a leadership position and want to go from a “good” to a “great” boss, I highly recommend reading this article.

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The Killjoy

At some point, all of us have dealt with (or will deal with) a character I call “The Killjoy.”  This person may be found on a board, budgeting committee or similar group of people assembled for negotiations.  Some people call them the “Doubting Thomas;” however, I call this persona “The Killjoy” because they likely don’t believe in energy efficiency or have had a bad experience with it in the past.

Examples are plentiful.  If you say you’re going to spend ____ amount of money, you’ll hear them say, “Oh boy, here’s another one of these boondoggles.”  If you say you’re thinking of spending $_____ per foot of lighting or $____ per controls.  They’ll say something like, “I’m not a big fan of controls, but I’ll leave the $_____ for lighting.”

It’s imperative that The Killjoy feels as if they’re in charge.  One way to make them feel at ease is offering a variety of choices to compare.  Present them like a Lazy Susan on the table or a buffet.  Tell them, “These are the kind of things you could do in your building, none of which have been done so far.  Your ENERGY STAR® score is suffering.  These are your potential solutions.”

You can also use studies to back you up.  Most of the time solid facts are more difficult for The Killjoy to argue with.  For example, you could say, “There are no less than six studies in the last decade that have proven that if you have an ENERGY STAR label affixed to a US commercial office building, you’re likely to see higher rent per square foot, higher occupancy, and a higher sales price per square foot.”  Of course, back up your claims.  Make sure you have materials on hand for their perusal in case they ask.  It’s a sign of preparation and a testimonial of your transparency.

Ultimately, your best bet is to make the benefits real for The Killjoy.  In my experience, money talks and environmental concerns walk with The Killjoy, but it might be something else.  Like any of the other players, it’s important to know their motivations and what their pain points are.  Patience and preparation are key here.  The most cynical person in the group is often the most sensitive, so proceed with caution.  Effectively addressing The Killjoy takes effort; however, that effort is well worth it if it allows you to avoid The Killjoy’s veto.

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Increasing Your Closing Rate

If you have a lousy closing rate, what are you doing wrong?  It’s usually a combination of talking to the wrong people and saying the wrong thing in your proposals.  Perhaps you’re not addressing objections or really asking for the sale.

Scott Channell has a great philosophy.  He says that when it comes to success in sales, 60% of it is who you call, 30% is what you say, and 10% is everything else.  The first question I’d ask myself is “Am I sure that the people I’m pursuing are the most likely to buy my energy solution in the near future?”

Why would the near future matter?  Well, a sale is dependent on four things: a prospect’s desire, need, ability, and authority to pursue the offering being presented.  At some point, everybody has a need for lighting, air conditioning, motors and drives or whatever you’re selling.  If you talk to every single person in the phone book you would wind up getting some business; however, your average sales cycle would be ridiculously long.  Why?  Because most of the people you’re talking with do not have an immediate need or desire.

Here’s the second question: “Who are you talking to, exactly?  Where did your leads come from?”  Even if you’re talking to strangers they should be related to people you’ve already sold to, especially those who have been happy with your services.  All you need to do is ask and the response might surprise you.  You might hear something like, “You know, it’s funny… I was just talking to John at the golf course on Saturday and he was complaining about how he has to overhaul his entire air conditioning system next season.  I bet if you called him, you’d be the kind of contractor he’s looking for.”

Here’s the third question: “If you have a lousy closing ratio, could it be related to the way you write your proposals?”  Perhaps you haven’t identified the perfect value proposition or soft-circled your prospect’s approval.  You need to be pretty sure that people are going to say yes before taking the time to craft a compelling one-page proposal.  It’s best if they’ve already agreed to take you on, so you can write the proposal and have your internal champion submit it to their capital budgeting department for final approval and funding.  If your internal champion lacks the confidence to lobby for your project’s approval, you need to assess their needs more carefully and rewrite your proposal so that it’s a clear solution.

Another obstacle in your way is objections.  Not everybody is willing to be your internal champion. There might be a killjoy on staff whose approval is necessary before you secure the sale.  What do you do about that?  Well, for one thing you’re going to have to answer a lot of questions, so prepare yourself.  Come up with an Objections Archive or use one your organization has already compiled.  You’ll find that there are probably less than 20 objections that everyone gets 80% of the time.

The last thing I’d recommend is doing some role-playing.  If your closing ratio is suffering, it might be due to a lack of confidence or insufficient practice.  My observation of thousands of salespeople lead me to believe that less than 10% of those salespeople can really think on their feet and be eloquent when they address objections.  And that’s why rehearsals are so important.  It takes time; however, if you’re determined to become a sales rock star, it’s definitely worth it.

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We Don’t Have the Money

Most prospects are spending money on an overly large utility bill when they could be making principal and interest payments on new equipment that would save the difference and more.  Nevertheless, you’ll hear the same objection, “We don’t have the money.”

Here’s how I’d outline it for them.  Replacing their current inefficient equipment would not only save them money, but also ensure they wouldn’t have maintenance or reliability issues with what they’re currently using.  It would increase the comfort and convenience of their environment and likely deliver other benefits as well.

Another analogy I use is: “Let’s say we could eliminate a $500 slice of your monthly utility bill by implementing an energy efficiency upgrade.  Repurposing that same $500 a month to principal and interest payments, you could borrow 100% of the cost of this upgrade today and have it fully paid for in ‘x’ months.

“If you decide to ignore these compelling economics and continue wasting $500 per month in an unnecessarily large utility bill, it would be the equivalent of going to a car dealership and taking home the monthly car payment book without actually taking possession of the car.”

This situation is no different than what all too many building owners are doing these days: paying the equivalent of a car payment – in this case, the wasted portion of the monthly utility bill – without getting the benefit of new equipment.

Once you frame it that way, it’s hard for the prospect to forget how absurd it would be to stick with the status quo. Most people know what a payment book looks like and know how ridiculous they would feel if they were making payments on a car they never actually drove home.  When they’re back in their office the next day, their wheels will start turning: “I have these old light fixtures.  Some of the lenses are broken.  They’re inefficient.  They’re wasting my money.  I’ve got an air-conditioning system I can’t control because I never invested in HVAC maintenance.  I’ve got glare problems with the south and west-facing sides of my building,” and so on.

From there the solution will seem pretty straightforward.  They could repurpose currently wasted dollars to pay the debt service on brand-new equipment, all while paying no more than what they’re currently paying their utility.

That is a very powerful closing tactic.  Once you get people to understand their losses and potential gains, it becomes an emotional decision.  You’ll see prospects reevaluating their situation and saying, “I’ve never thought of it that way.”  It’s some of the most astute reframing you can use for an efficiency decision.

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Proposal Writing Tips

The way in which you frame your product or service in a proposal can mean the difference between a “yes” and a “no.” Here are eight tips to keep in mind when writing a proposal:

Focus on results rather than methods or processes.
Be generous with innovative ideas.
Make it about the client, not about your company.
Make it easy to read and evaluate.
Accuracy is essential in both content and form.
Re-read it the next day before sending it out.
Don’t make your proposal dull; add flavor and drama.
Think through any objections and address them preemptively.

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