Posts Tagged ‘sales’
Halftime – Down Means Up
Tags: Coaching, Markeing, mentoring, motivation, Recruitment, sales
Posted in Uncategorized on March 22nd, 2009
I unabashedly admit that I am a college basketball junkie. My team, the University of Louisville Cardinals, earned the top overall number one seed in the N.C.A.A. tourney and at this writing; they are headed for the Sweet 16.
Lately, my Cards have been down at half time and then just demoralize their opponent in the second half. I am curious as to what goes on in that locker room to make the light come on for the players. Does being down inspire a team or an individual to reach their maximum potential?
Jonah Berger, assistant professor of marketing and Devin Pope, an assistant professor of operations and information management at the Wharton School of the University of Pennsylvania, analyzed game outcomes based on the half time score. They researched N.C.A.A. teams across all divisions and found that teams down by 4 at halftime lose about 60 percent of games. Teams down by 8 lose about 80 percent of the time. They analyzed more than 6,000 N.C.A.A. basketball games played in the past four seasons. Surprisingly, the data show that trailing by a little can actually be a good thing.
According to Berger and Pope, on average the team with the lead should win more than half of those games. The data however shows the opposite. The team trailing by a point actually wins more often. According to the research, being slightly behind increases a team’s chance of winning by 5 percent to 7 percent.
I suspect that a good reason for the second half turnarounds is the result of great coaches, motivational techniques and good team chemistry.
If you are like most people, you are probably feeling like a team that is down at half against a very tough opponent, the economy. Therefore, it is incumbent upon all of us to become that great coach. We need to be that motivational coach to others and ourselves everyday.
When it comes to sales, recruitment or maintaining existing clients, never underestimate the power of motivation. As coaches we need to motivate our teams to do that one little extra thing that will make us better than the competition.
Often time’s leaders think that money is the motivator for those that we mentor. In fact, the desire for more money tends to score much lower. Motivation is best delivered when we understand the human need to belong to a group. The three motivators that consistently rank at the top of employee list are:
- Advancement
- Type of work
- A company that they are proud to work for
So, if your team finds itself a little ahead at half, perhaps you should remind them what is going on in the other locker room – they are planning a big second half surge. I hope you enjoy the rest of the N.C.A.A. tournament. Go Cards!
Cold Calls Create Warm Relationships
Tags: cold calling, relationships, sales, thought leader
Posted in Business Development, Communication, Customer Service, Marketing on October 6th, 2008
On those occasions when I can roust myself out of bed early enough, I enjoy a pedal through the park. A recent ride was a bit cooler than expected. I suppose that’s what started me thinking about cold calling.
It occurred to me that everyday we cold call. Whether it is a brief conversation with a stranger on the elevator, waiting for the bus, or at a conference breakout session. In each case we reach out and create a relationship.
So why is it so difficult for us to do it when charged with developing new business opportunities? Perhaps it is because we have been inundated with so many poorly executed sales calls that we feel like we’ll be viewed as just one more.
Breaking out of the pack requires an approach that is WIIFM (What’s in it for me?) focused. When you reach your prospect try keeping the following in mind.
- Before you call, have research or best practices relevant to their industry or business.
- Introduce yourself in one sentence.
- Tell them you want to schedule a 10 to 20 minute presentation regarding your research. Ask them to have their colleagues participate in the conversation. You’ll be viewed as the Thought Leader, the expert resource.
- Close the conversation by asking what date on their calendar works best for them. This approach gets you a “when” answer instead of a “no”.
- When you present, be sure you actually deliver the best practices promised in the cold call conversation. Sharing your knowledge is the first step in the relationship process and the only way you can move a prospect from cold to warm.
Erica Stritch, a business development consultant, offers these cold calling scripts in her blog. I’m passing them along to you. Thanks Erica.
Script #1
My name is John Smith and I am with Smith & Smith, we’re a (insert type of firm). We’ve been scheduling brief phone calls to introduce ourselves and share best practice information. We’d like to tell you how other (industry) companies are…
- Protecting their global shipping operations and ensuring continuous cash flow
- Achieving the best possible efficiencies by connecting all (blank) disciplines
- Using (our client’s special expertise) to create competitive differentiation and capture market share
The information will give you a framework for assessing your situation at (company name). I’m wondering if you’d like to talk with me and one of the partners here at Smith & Smith on October 23.
Script #2
My name is Jane Smith and I am with Smith & Smith – we’re a (insert type of firm). As a part of that work, we have just completed a benchmark study where (industry) firms rate over 350 major suppliers in those areas critical in deciding who they will do business with.
What we’ve been doing as a way of introducing ourselves is to share with some select suppliers survey details specific to you:
- How (company name) rates on six critical success factors
- Where your competition stands in relation to you
- What areas you can focus on that will have the greatest impact on increasing your share of wallet
That’s it. Even if you decide not to pursue this any further than this first meeting, at least you’ll have valuable intelligence as a result. What does your calendar look like next Wednesday or Thursday?
Whether it’s a chat across the fence or across the boardroom, it’s all about relationship building. Becoming a valuable partner instead of a vendor in these very competitive times will ensure that your business will prosper and endure.
I have additional research on how Thought Leadership can help meet your 2009 sales forecast. Is next Monday open on your calendar?
