Inside BS Show

Everyone loves a great sales contest, but do contests work? In this show, I give you some awesome sales contest prize ideas. I talk about the benefits of having competitions. And I tell you just how to motivate your team to do well.

Why should you run a sales contest? There are a few instances in which a competition can quickly drive up your team’s productivity:

- When you want to boost revenue within a defined time period.

- When you’re entering a new market.

- When you want to promote a specific product or service.

Make sure that when you plan a sales contest, you’re clear on what you hope to accomplish.

Watch the video:

https://www.youtube.com/watch?v=5QMO9peVwL0

What behaviors do you want to inspire in your salespeople? You want your team:

- To be autonomous in making targeted sales.

- To focus on specific objectives.

- To track and measure their own progress against that of others.

Now, you may be thinking, “How do I come up with sales contest prize ideas?” Well, put yourself in a salesperson’s shoes. What sorts of prizes will energize your sales team to compete and try to outperform one another? What will they want to win so badly that their sales numbers skyrocket? What’s important to them, and what feeds their egos?

Here are prizes that motivate:

- Compensation prizes (we all know money is motivational).

- Recognition prizes that elicit the admiration of the entire team.

- Inclusion prizes, such as invitations to be part of trips, events, or elite groups.

- Status prizes, such as promotions or special parking spaces.

Sales contests are an important tool in the sales manager's took box.

Here is the podcast:

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Sales managers, entrepreneurs, and business leaders: Stop! Don’t set your performance goals just yet. Watch this video first, to avoid missing something important.

These are three often overlooked, critical goals for every salesperson:

1. Create and nurture new customer relationships.

 2. Get more revenue from existing customers.

 3. Increase dollars per transaction.

Track and measure your team’s success in each of these areas. How much revenue comes from new relationships? How much more did your existing clients spend this year compared with last year? What’s your average transaction amount?

In my video, I dive deeper into these three performance goals. I explain how to find new customers, how to sell more to existing clients, and how to get more money per transaction.

Watch the video here:

 https://www.youtube.com/watch?v=enRT7Pec4Kw

How do you attract new customers?

 - Allocate 10% of your time to pursuing big whales and huge deals.

 - Spend 20% of your time receiving referrals.

 - Use 20% of your time on passive attraction methods by repurposing content.

 - Devote 50% of your time to primary attraction activities, depending on what works. For example, if you’re a great speaker, spend half your time doing speaking engagements.

How do you get more revenue from existing clients?

 - Pitch new products.

 - Sell upgraded services.

 - Increase buying frequency.

 - Promote automatic orders and subscriptions.

How do you increase dollars per transaction?

 - Raise your rates.

 - Offer good, better, and best options.

 - Bundle products and accessories together.

 - Offer multiple opportunities to upgrade.

 - Become more valuable by creating a community of clients who do business with one another.

Here is the podcast:

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Your current clients are the key to growing your revenue. In this show, I talk about recognizing the importance of customer lifetime value – how your customers help you grow over the long term.

There are three ways to bring in revenue and grow client lifetime value: find new customers, increase purchasing frequency, and increase money spent per transaction.

This is where the importance of customer value comes in. Your client relationships are valuable because you can leverage them to build revenue in all three ways.

How do your current clients help you find new customers?

- They refer you to others.

- They tell you what they read and watch, so you can create similar content.

- They lead you to their organizations, where you can get involved by sponsoring or speaking at events.

Watch the video for more:

https://www.youtube.com/watch?v=WYuxEX9dVSY

Acknowledge the importance of customer lifetime value. Build strong relationships with your clients – educate them, solve their problems, and connect with them frequently. In return, your existing clients will help you find new clients.

Another way to grow revenue is through repeat sales:

- Communicate more often, in various ways.

- Deliver new information.

- Solve new, industry-wide problems.

- Notice upcoming industry trends and prepare for them.

- Develop a recurring offer.

- Set up auto orders based on industry best practices.

The importance of customer value is also clear when it comes to high-dollar transactions:

- Always offer options with different prices.

- Get testimonials from high-spending, satisfied customers.

- Provide a competitor analysis to show how your offer is superior.

- Demonstrate a high return on investment.

- Ask your clients to invest more in you.

Are you starting to understand the importance of customer value for growing your business? If you are interested in growing client lifetime value and for more information on leveraging your current client relationships, give me a call: 888.444.5150

Here is the podcast:

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Business-to-business lead generation tools help you make more money. That's a fact. In this show I introduce you to four specific B2B lead generation strategies I use each day. I teach these B2B lead generation techniques to my clients and they thrive when they implement them properly.

My B2B lead generation process includes the following B2B marketing tools:

1. Speaking for lead generation
2. Publishing for prospecting
3. Networking as a B2B relationship development tool
4. YouTube and LinkedIn lead generation

I provide you with an overview of all of these in this show.

Watch on YouTube and Listen on the Podcast

YouTube Link: https://youtu.be/OaDse6XFrJ0

Here is a link to the Do This Sell More Podcast and a player for this episode:

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There are a few rules for consultative sales and I outline them here. This is the first episode of our new daily format. Watch the Do This Sell More Show on my YouTube Channel The Dave Lorenzo Daily.

https://www.youtube.com/watch?v=jvIA20qP4N4

In consultative selling, discovery sales questions are fundamental because they allow you to start building a bond with the prospective client right away. Here are the top sales questions that you should be seeking answers to:

The first thing you should ask about is the client’s desired outcome. What are they hoping to achieve? Be as specific as possible. If you don’t ask, your client might simply describe the symptoms of their problem rather than the problem itself. Just as a doctor diagnoses what a patient’s disease is, you must figure out what the problem is for your client.

The second of my top sales questions is, “why is the outcome so important?” What are the consequences of not meeting the client’s goal or outcome? Is this a long-time problem? These discovery sales questions will help you identify the personal nature of the client’s problem.

The third thing you should ask about is why they need to solve their problem now. What factor is driving the process for them? Whatever the motivating factor is, use it to your advantage.

The fourth thing is to find out is who else is involved. Often, big issues involve more than one person. Who else is affected? Make sure that whoever is involved becomes a solution to the problem rather than a barrier.

The fifth thing is to get a plan for moving forward. Starting is often 90% of solving a problem. When closing the sales meeting, tell your contact at least three actionable steps they can take right away.

These are what I consider the top sales questions when it comes to consultative selling. Use these five discovery sales questions to instill confidence in your client and build trust.

Is a Recession Coming in 2020? Dave Lorenzo Interviews Leading Economist Jason Schenker Friends, clients and subscribers have been asking me about a recession in 2020 in the United States. I can try and guess about the answer but I'd rather ask the experts. That's the purpose of this interview. In this interview you will discover a lot about economics. We discuss: The current state of the economy The difference between a corporate driven economy and a consumer drive

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How To Sell Professional Services to Businesses. An interview with entrepreneur and intellectual property attorney Bradley J. Gross. During this sales training video Dave Lorenzo and Brad Gross discuss how to sell professional services. During the past ten years, Brad has employed professional speaking and nice marketing to grow his personal brad and develop a massive book of business. In this interview you will discover the four keys to selling services. They are: Personal

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How to Fire a Problem Sales Representative and Other Legal Issues. Dave Lorenzo interviews Russell Berger the Practice Director for Labor and Employment at Offit Kurman, Attorneys at Law.

In this episode Dave and Russ discuss:

• How to fire a problem employee in sales
• The big mistake most sales managers make when they discipline as sales team member
• Sales Representatives: When to sign a non-compete agreement and when not to sign one
• Sales Managers: How to make sure your non-compete agreement is enforceable
• How to avoid sexual harassment in the workplace

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How to Build a winning Culture in Sales. Dave Lorenzo interviews Jeff Grimshaw is a Partner with MG Strategy about how to build a winning culture in sales. Jeff is an author and expert in business culture.

In this episode Dave and Jeff discuss:

How you have to align the hearts, minds and hands in your business

How to make sure sales managers are rewarding and recognizing people appropriately

Why informal communication in a company is often more powerful than the structure

How to use LinkedIn for Sales. Join us for this episode of The Do This Sell More show. Dave’s guest is Karen Yankovich, LinkedIn Expert, Digital Strategist and Owner of Uplevel Media.

In this episode, Dave and Karen discuss:

• How to optimize your LinkedIn profile.
• What types of photos to use on LinkedIn (vs. Facebook and Instagram).
• The Importance of Keywords on LinkedIn.
• How to grow your network THE RIGHT WAY.

Key Takeaways and actionable tips:

• LinkedIn is a community You must interact with people.
• Posting content is great but commenting and sharing should be the bulk of your activity.
• You must extend the relationships into the "real world" to be successful.
• Research is key if you use LinkedIn for referrals.