Choose Your Words Wisely

Choose Your Words Wisely

Choose your words wisely

Think back to when you were growing up and your mother told you to choose your words wisely.

It would be assumed that sentiment went in one ear and out the other. As you got older, however, more than likely you paid attention and heeded the advice in certain aspects of your life; with your friends, teachers, boyfriends/girlfriends, family members, etc.

Packing a punch

Words, do in fact, have a powerful punch. Take a moment to think back and remember an incident when someone used certain words that had, good or bad, an impact. Now, think how that scenario could have turned out if they chose different words. How would you have responded? Would the outcome change? If so, would it change for better or worse?

Moving into your professional world, think how words impact your day to day, your transactions, your sales, your goals and your future. Particularly in the world of sales, one wrong word can stop your deal dead in its tracks. In a recent article, Forbes rates the following as the WORST words to use in sales:

1. We – Who is “we”?

2. Think – Your clients pay you to KNOW, not to think

3. If – It’s not if, it is when…

4. Um – it is just filler

5. Probably – translates to you do not know

6. Small – size doesn’t matter as long as you can do the work

7. Only – can devalue…

Words matter

Clearly words play a role in every area of your life. While choosing the correct words to land your next deal, you don’t want to overthink and second guess yourself. Speak with confidence. Speak with authority. You and your words WILL land that deal.

TOTAL ADDRESSABLE MARKET (FINAL STEP)

TOTAL ADDRESSABLE MARKET (FINAL STEP)

Total Addressable Market (Final Step)

Now that you have your internal TAM of testing customers and your external TAM for new client acquisition, it is time to execute a very detailed plan. Going after existing AND new clients offers an exciting and new energy to the process. 
By now, you have rated and prioritized your clients. How well do you truly understand them? Your top 50 clients typically make up 80% of your business. More than likely, however, you aren’t capitalizing on your top 50 TAM. As a result, are you only selling one or two of your services to them? Could you sell them a few more services? Could you offer them more solutions? Could you reach multiple locations within a company?

Natural Matchups:

You want to get with the internal and external and see if there’s any natural matchups. 
  • Are there any people that are in the same hometown that you could invite to a similar event? 
  • Are there trade shows events were both would be? 
  • Where are people going to meet together? 
  • Where are they hanging out together? 

Let them sell for YOU!

When you know how to connect your clients and prospects, it’s a great way to have them sell your business for you. Once this plan is in place, you need to make sure your salespeople are all very confident and comfortable in selling your MVP.

 

Work and adjust:

Work the plan and adjust as needed. But with both internal and external TAM, along with an ideal client profile, you’ll have great success.  
TOTAL ADDRESSABLE MARKET (PART 2)

TOTAL ADDRESSABLE MARKET (PART 2)

Total Addressable Market (Part 2)

Your annual planning is complete. The next move… You need to grow your external customers, obtain new clients to reach your goals.

The Key:

The key to doing this is a solid prospect list. Break down your list so you totally understand your Total Addressable Market. You need to create the list of prospects that closely match your ideal client.

 

Applications:

Applications such as Seamless.ai, Facebook, or LinkedIn Sales Navigator are excellent tools to use to assist you in fine tuning your prospect list. Once your list consists of 100 to 200 prospects, it will be extremely beneficial to really understand their size and the TAM if those prospects were landed. From there, start ranking them based on size, ease of work, inside contacts, etc. The key is finding prospects that are EASY to contact the correct person and PROFITABLE, when you land them.

 

Target:

Now that you have your target 100 to 200 prospects, we recommend our 321 Plan of Communication. We’re going to put together efficient voicemail/email campaign based on your MVP’s to maximize results. It’s an effective method for getting people to call you back.

 

Next:

The next step is to listen to Part 3 of my series to make sure that you understand what we need to do next. Once this is done, it is time to execute!

TOTAL ADDRESSABLE MARKET

TOTAL ADDRESSABLE MARKET

Total Addressable Market 

After completing your annual planning session, in order to reach or surpass your sales goals, we recommend understanding your Internal TAM – Total Addressable Market. You have existing clients. Now… it is time to gain more market share from them.
By now, you have rated and prioritized your clients. How well do you truly understand them? Your top 50 clients typically make up 80% of your business. More than likely, however, you aren’t capitalizing on your top 50 TAM. Are you only selling one or two of your services to them? Could you sell them a few more services? Could you offer them more solutions? Could you reach multiple locations within a company?

White Board Exercise:

Of your top 50 clients, what is the opportunity that you have within your current clients?
  • If you are selling $10,000 into a client – but you know they purchases other services or products that you could sell you need to determine the TAM you can realistic capture this year.
  • Assuming you feel they spend $50,000 of services/products that your company can provide then you have $40,000 of available Internal TAM.  
  • Set a goal for this year set at $25,000

Now… your goal is to double this client – HUGE difference!

Do this exercise again for ALL 50 clients. Once you do this for all of your top clients, then rank them. 
Based on the Total Addressable Market, there is a significant difference between the $50,000 and the $10,000. This will give you a list of who to target first. Then, you create a plan on who, when and how often to get in front of or call on these people. 
Start by putting together the plan for your internal Total Addressable Market. It’s a great way to start how you’re going to reach your sales goals.
321LISTEN

321LISTEN

321LISTEN

 Take a few minutes out of each day and listen to your clients, prospects and competition. You’ll be surprised at how much you can learn.

321Close is the MYB2BCOACH process that brings a suspect all the way up to a client. Part of that process is 321Listen. It will take approximately 3-4 hours to set it up properly, but once that’s done, the time spent on 321Listen is very minimal. Keep reading to see how you can get started today!

First, make a list of all your prospects, clients, vendors and competitors. This includes both people and companies. Once you’ve collected all their names, start looking for them on social media. You’ll want to start following and connecting with them on Twitter, Facebook and LinkedIn. You can also set-up push notifications for Twitter to be notified when a prospect or customer posts a new update – click here for instructions. Visit their websites and subscribe to their blog. Finally, set-up Google Alerts – click here for instructions. You’ll want to set it up to receive key alerts from your prospects and customers.

Once set-up is complete, it’s easy sailing. Take a little time out of each day – when you’re grabbing a bite to eat or having a cup of coffee – and check your newsfeed on social media and your Google alerts. While scrolling through you feeds, take note of any interesting, important or urgent headlines. If the headlines trigger any thoughts in your head such as, “Wow! They could really use our service,” or “I should drop them an email and say, Congratulations!” then you’ll want to make sure you reach out to them. Not only will they appreciate you staying interested in their business and reaching out to them, but you will also be at the front of their mind next time they need something.

Even though it takes a few hours to set-up 321Listen, a few minutes a day is all you need to have magic happen in your sales. Make sure you take advantage of 321Listen – a simple tool to make you a knowledgeable salesperson in your industry!

DON’T STOP CALLING. DON’T GIVE UP.

DON’T STOP CALLING. DON’T GIVE UP.

DON’T STOP CALLING. DON’T GIVE UP.

Prospecting and following-up can be hard. It’s discouraging to make call after call only to reach someone’s voice messaging system. But, did you know that the probability of talking to someone the first, second or even the third time you call is very low?

We have 3 statistics you need to remember when you’re prospecting and feel like you want to give up!

1. It takes an average of 8 cold call attempts to reach a prospect.

Sales Coach insight: You need to follow a process to reach your prospect. At MYB2BCOACH, we follow our 321Close Process that includes multiple different touchpoints including phone calls, emails, website and social media (including LinkedIn). If you give up on a prospect after too few attempts, you are passing up a potential sale.

2. 80% of sales require 5 follow-up calls after the meeting. 44% of sales reps give up after 1 follow-up.

Sales Coach Insight: Lazy salespeople don’t have the initiative to keep following up, and unorganized reps will lose track of their progress and eventually give up. Don’t be these types of salespeople! Follow a process and keep track of it. It takes several follow-up calls to get your message across and explain the benefits, so make sure you’re organized and document your progress. Remember, you can’t help solve their problems all in one phone call. 

3. 92% of all customer interactions happen over the phone.

Sales Coach Insight: The most successful way to get in front of customers and conduct business is over the phone. This is important to remember during your prospecting attempts and follow-up process. Sending someone an email is easy but it’s more likely to get lost in their inbox and being left unread. It’s better to make the calls and then send a follow-up email to recap what was discussed.

Just remember to be persistent, stay determined and never give up!

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