Sales Babble

Stop Guessing How to Sell and Use Market Research with Corey Hammer #208

Many companies fail to understand the drivers that motivate customers to buy. Through luck and pluck these companies have found a level of success. Yet they know they're leaving money on the table. Now if there was only a way to know for certain our prospects are thinking. In this episode guest Corey Hammer shows how companies can stop guessing how to sell and instead use market research to know for FACT, the drivers for selling success.

Corey Hammer has 15+ years as an insights professional across multiple industries. This includes CPG, education, hospitality, pharmaceuticals, and consumer services. He holds a PhD in Experimental Psychology and is a longtime Boy Scout and Scouter (Be Prepared).

Market Research Process

Companies looking to roll out a new product or service should thoroughly investigate the new market. According to Corey, there is a methodical market research process. This process will provide insight into the drivers for converting prospects into consumers, customers and long time clients.

1. Look at the data you currently collect: sales, overheads, marketing campaigns, conversions, and repurchase. It's costs nothing to investigate and analyze data already in-house. Analyze and parse the data. For example"
   • Look at marketing ads with different, copy and channels. Next look at conversion rates. However too often people fail look across channels Youtube, Twitter, Facebook, LinkedIn, Instagram, Pinterest etc….
   • Also focus on internal sales data. Know what's selling in what channels
2. Next look at your customers. Accept that 80% of your business comes from 20% of your customers. Use a customer experience measurement tool to know how they think. Ask quick questions on recent purchasing and owning experience of you products and services. Make it a transactional survey of a recent purchase, especially B2C. A relational survey makes more sense in the B2B space.
3. Value Engineering is the process of optimizing the value of a product of service to a customer by lowering costs or improving the functionality. Market research creates the opportunity to successfully complete a Value Engineering activity. Segment audience and align products and services.

What Do Startups Do?

If you're new to a market place you can't rely on existing customers for market research. Instead, Corey recommends you go the library. Many local libraries have the following databases you can use for free:

• AtoZ Database sales lead research guide
• D and B Hoovers business research database

Next, look outside of the library at the App store to investigate competition.

• Market Watch online business and stock market news
• Seeking Alpha online stock market news

How to Find Corey Hammer

You can find Corey online at the following websites:

Website: www.talismaninsights.com

Blog: wow.talismaninsights.com

Personal LinkedIn: www.linkedin.com/in/coreyahammerphd

Company LinkedIn: www.linkedin.com/company/talisman-insights/

Market Research and Value Propositions

Here are past episodes that talk about the power of understanding your ideal client through market research. Listen today!

• Why Do I Need a Brand with Kim Speed
• Flawless Follow Up with Steve Rosenbaum #162
• Give to Get Marketing with Ray Wood #159
• How to Use Lead Magnets To Generate More Sales with Yoon Cannon
• Authority Selling with Mike Saunders #133
• Why Qualifying Prospects is Like Selling To Zebras with Jeff Koser #171
• How Value Propositions Bring Value to Your Business #167
• Wizard of Oz Sales Process with Steve Kloyda #137
• How to Sell Big Clients and Win Tremendous Deals with Melinda Chen #114
• How to Create Value During a Sale with George Iacullo #91
• The Myth of Know Like Trust #74
• How To Build Your Value Proposition with Lisa Dennis #48
• Discovering Your Ideal Client Avatar #40
• SB013 | Winning Customers by Building Profits, an interview with Bob Rickert
• Looking for Leads with Social Media, an interview with Brian Basilico #34
• The Non-Sellers Blueprint, Email Marketing Tips with Neil Kristianson #11
• SB 009 | Creating a Powerful Brand, An Interview with Arfan Qureshi
• Image Message Story. An Interview with Heidi Thorne

The post Stop Guessing How to Sell and Use Market Research with Corey Hammer appeared first on Sales Babble Sales Podcast | Sales Training | Sales Consulting |Sales Coaching.

Stop Guessing How to Sell and Use Market Research with Corey Hammer #208

Many companies fail to understand the drivers that motivate customers to buy. Through luck and pluck these companies have found a level of success. Yet they know they’re leaving money on the table. Now if there was only a way to know for certain our prospects are thinking. In this episode guest Corey Hammer sho

The Key to Authentic Selling with Jeff Davis #207

In this episode we meet long time Sales Babble listener Jeff Davis and author of the new book The Power of Authentic Leadership. Jeff and I discuss the importance of sellers embracing a leadership role, and apply their personal value system to build trust in prospective clients. Jeff gives the key to authentic selling with a 3 step process for authentic leadership.

Sales Credibility

Every day sales professionals put themselves and their products and services into the world. Success is dependent on effectively connecting with prospects. To do that you must have absolute buy-in to what you're selling. People sabotage themselves by not fulling committing to the product/service. Customers can read that and not trust.

Three Step Authentic Selling Process

The key to authentic selling is knowing yourself, your product and aligning the two when selling:

1. Know your personal VALUES – it's not what you know, it's what you apply
2. Make sure your VALUES are applied to what your SELLING (solving a need, providing a genuine solution).
3. Make sure the two values align. This builds trust.

Example: Let's say you have a personal value of "integrity". When you're qualifying clients and identifying needs, leverage that value. With integrity, you will naturally focus on benefits (that add value to the prospect) vs features that tend to cater to the sellers ego. Place the customer first and tip the odds to your favor.

Common Values of Leaders

Leaders commonly exhibit the following characteristics:

• Integrity
• No hidden agenda (higher than making money)
  • Serving Others
  • Having the best interest of others
• Have a personal vision for them in the world, apply their values within that vision
• Take Initiative ( fully take responsible)
• Serve and protect their employees ( fire bad clients who abuse their company/staff)

The key to authentic selling is to take the leadership role and serve your customers.

Take Action Plan

Get out and meet prospects and clients face to face. Don't over rely on marketing, email, social media and phone calls.

How to Find Jeff Davis

Website: http://jeffdspeaks.com/

• Twitter: https://twitter.com/JeffDavis027
• Facebook: https://www.facebook.com/authorjeffdavis/
• LinkedIn: https://www.linkedin.com/in/speakerjeffdavis/
• Instagram: https://www.instagram.com/jld016/

Jeff has kindly offered Sales Babble listeners a free PDF copy of my bestselling book, The Power of Authentic Leadership. Send an email to his Executive Assistant Meg [email protected]

Selling Mindset

Here are past mindset episodes with terrific advice you can apply today!

• The Purpose of Sales with May McCarthy #203
• Time To Sell Mindset with Chris Spurvey #202
• Three Step Process to Narrow Your Sales Focus #201
• Why Commissioned-Based Sales Plans Fail to Work with Justin Clark
• How To Learn The Secret Lingo of Your Customer with Jeffrey Shaw #192
• Phiology: Secret Code of Leadership David Eisley #189
• Sales Success Triangle of Attitude Behavior Technique with Glenn Mattson #187
• How to Pitch Shark Tank with Michelle Weinstein #184
• How to be a Sales Sherpa with the Hyperconnected David Fisher
• The Art of the Help with Larry Levine #182

The post The Key to Authentic Selling with Jeff Davis #207 appeared first on Sales Babble Sales Podcast | Sales Training | Sales Consulting |Sales Coaching.

The Key to Authentic Selling with Jeff Davis #207

In this episode we meet long time Sales Babble listener Jeff Davis and author of the new book The Power of Authentic Leadership.  Jeff and I discuss the importance of sellers embracing a leadership role, and apply their personal value system  to

How to Generate Referrals Without Asking with Stacey Brown Randall #206

Leveraging business referrals is a powerful way to grow your business. Unfortunately the process is poorly understood and followed. The majority of the people are uncomfortable asking clients to do something that would help their business. They've been told to just get over their shyness and ask for a referral or reference. Since there are few alternatives, most people just skip it all together. In this episode Stacey Brown Randall preaches against outright asking for a referral. She shows an alternative process on how to generate referrals without asking.

Build a Referral Network Stay Top of Mind

If you have a business reflect on your loyal and happy clients. Place them in your referral network. If you're working for a startup, it will require old school networking. Work with people you know from you past. Ask them to keep you top of mind. Adhere to a process (see below) and overtime, referrals will happen.

Five Step Referral Process

In the interview Stacey walked us through the five step process on how to generate referrals without asking. This will will be covered in her new book:

1. Know whose referring you and your referral sources. Build a list (24-36 sources)
   • Warm lead, introduction, word of mouth buzz, referrals ( 4 different types of prospects)
2. Have a follow up / thank you process once you receive a referral
3. Outreach with touch points to your referral network. Go deeper when interacting with them. Use language that will cause them to think of you and generate referrals. Beyond keeping in touch. Know something about them e.g. Fathers day, something personal. Maybe a host a network lunch, bring two people in your network together. This is the Secret Sauce. Build out a year long plan.
4. Automate the year long plan with process by building a calendar, on a cycle. Work on it each week.
5. Track the plan and tweak as you learn what's working and what's not.

Take Action Plan

Focus on step 1 and build your list of referral sources (who should and have sent business to you). In your CRM, make sure to include with your list of clients, who referred them. This way you have a means of thanking and honoring your network.

How To Find Stacey Brown Randall

Stacey's new book is Generating Business Referrals Without Asking It's coming out Fall of 2018 Preorders will start in March. The book delves deep in the 5 steps and provides supplemental material.

Website – www.growthbyreferrals.com/salesbabble

Click on the link to get the four reasons you don't get referrals and next how to generate referrals without asking.

Join Stacey's free Facebook group – Referrals Without Asking and learn more: https://www.facebook.com/groups/referralswithoutasking/

You can find Stacey in Social media

• Twitter – @staceybrandall
• Facebook – www.facebook.com/StaceyBrownRandall
• LinkedIn – www.linkedin.com/in/StaceyBRandall

Business Development and Lead Generation Strategies

Here are past episodes to continue this week's conversation. Enjoy!

• Repeatable Success for Sales Development Reps with Brendan Barrett #188
• Startup Story Where Software Goes to Seed with Charlie Wiltgen #179
• Myths on Social Selling with Mark Hunter #142
• Understanding the Value of Testimonials #126
• 6 Simple Steps for Generating New Leads With Chris Helmers
• What Startups Need to Know about Business Development with Tim Allen #119
• How to Find Sales Leads with Twitter with Madalyn Sklar #199

• How To Generate Leads without Sales and Marketing with John Tripolsky #191
• 6 Ways To Generate Leads With Fatima Zaidi #180
• 7 LinkedIn Strategies for Generating Qualified Leads with Janis Pettit #176
• How To Schedule Sales Appointments with Automated Emails with Neil Kristianson #157
• Take Command of the New LinkedIn User Interface with Brynne Tillman #151
• Referrals – The Master Key To Winning Sales with John Spence #127
• Looking for Leads with Social Media, an interview with Brian Basilico #34
• SB029- How To Generate Leads on LinkedIn, an Interview with Patrick McFadden.
• Crossing the Chasm an Interview with author Geoffrey Moore

The post How to Generate Referrals Without Asking with Stacey Brown Randall #206 appeared first on Sales Babble Sales Podcast | Sales Training | Sales Consulting |Sales Coaching.

How to Generate Referrals Without Asking with Stacey Brown Randall #206

Leveraging business referrals is a powerful way to grow your business. Unfortunately the process is poorly understood and followed. The majority of the people are uncomfortable asking clients to do something that would help their business. They’ve been told to just get over their shyness and ask for a re

All Sales Start With a Why with Michael Manzur #205

Michael Manzur is founder and CEO of Flood Me Social LLC, a social media marketing agency. He helps companies find qualified leads and convert them into prospects. Michael is an unofficial LinkedIn Influencer and Host of LinkedIn Local Aventura in south Florida. Today we discuss common mistakes sellers make in social media and the process to turn leads into conversations.

Ineffective Social Media

Too often companies have no idea why or what they're doing on social media. All they know, is that they're supposed to do it.

• The word Why is the driving force for selling according to Michael
• Too often businesses fail to base objectives around their Why
• Social media is merely a tool, doesn't supplant effective communication
• People can see a marketing campaign a mile away
• Without a clear Why, campaigns fall flat

Your Why comes from your Value Proposition. First define that.

Effective Social Media

Now that you have your Why, do the following:

1. Set a business objective
2. Craft social media goals around that objective

Example: I want to increase my B2B sales in 30 days

Goals: Create a content calendar, with sales, promotions, content to refine social media marketing funnel.

Michael believes that the how informs, but the why transforms.

Social Media for Startups

Fully complete your LinkedIn profile, know what you can get for free. Much is available.

1. Add a prospect on LinkedIn
2. Like and comment on their LinkedIn activity
3. Send a note about things you have in common to build rapport
4. Take conversation offline
5. Speak offline and share the value proposition over the phone

Use Linkedin to meet people and then move the conversation offline. Next, as you grow clients, word of mouth marketing creates growth.

Note: May McCarthy (The Purpose of Sales) spoke to the same topic back in Episode 203

Where to Find Michael Manzur

Linkedin: https://www.linkedin.com/in/MichaelAManzur/

Instagram: https://www.instagram.com/MichaelAManzur

Gift for Listeners:

Interact daily on Linkedin!

https://www.linkedin.com/in/MichaelAManzur/

Social Selling

We've talked often on the topic of social selling. Here are past episodes that dive deep. Listen today!

• The Art of the Help with Larry Levine #182
• 7 LinkedIn Strategies for Generating Qualified Leads with Janis Pettit #176
• How To Generate Leads with Relationship Selling with Michael Ross
• Take Command of the New LinkedIn User Interface with Brynne Tillman #151
• Myths on Social Selling with Mark Hunter #142
• Power Prospect with LinkedIn Groups with Liam Austin #135
• How To Be An Awesome Sales Professional with Thomas Ellis #102
• How To Generate Sales Leads Using LinkedIn, Facebook and Twitter
• 7 Habits of Highly Successful LinkedIn Users with Dennis Brown

The post All Sales Start With a Why with Michael Manzur #205 appeared first on Sales Babble Sales Podcast | Sales Training | Sales Consulting |Sales Coaching.

All Sales Start With a Why with Michael Manzur #205

Michael Manzur is founder and CEO of Flood Me Social LLC, a social media marketing agency. He helps companies find qualified leads and convert them into prospects. Michael is an unofficial LinkedIn Influencer and Host of LinkedIn Local Aventura in south Florida. Today we discuss common mistakes sellers make in social media and the process to turn l

What's Not Working In Sales Today with Brandon Bruce #204

Brandon Bruce grew up in a tiny California town of 800 people where he only had one classmate at a school with outhouses as their bathroom. He went from these humble beginnings to now Cofounding and growing Cirrus Insight to $12 million in revenue and #41 on the Inc. 500 list (after a six-year rollercoaster of sales success and setbacks). Today Brandon and I discuss what's not working in sales today.

Times Have Changed for Sales

Cold emailing and cold calling still work, but not as well as in the past. The internet is changing consumers behavior. They are spending more time alone shopping and comparing before calling the sales line. It used to be that growing a big email lists was the path to success. But it doesn't work as well as it did in the past. People can smell a pitch a mile away. A small list of targeted prospects is better.

Sales Solutions That May Work

Be eminently reachable – post your calendar online and let people find a spot that works for them.

Use email prudently asking for advice and help if you're a startup:

• Hi I'm a founder like you,
• I've created a new application, it does THIS,
• I'd really appreciate it if you would download, and give it a try
• then give us some feedback on it and tells us what we did right and not right
• We're very open for feedback.

In this example you're not selling but asking for advice. Kill them with flattery, by not selling, but getting them engaged. Be vulnerable and admit you may not have the answer, but you're open for feedback. This is authentic. Pushy sales is what's not working in sales today.

How to Find Brandon Bruce

Brandon on LinkedIn https://www.linkedin.com/in/brandonbruce/

Website https://www.cirrusinsight.com/

Twitter @cirrusinsight

Babble me to enter the drswing for Brandon's swag!

Business Development

Listen to past episodes to find ways to grow business quickly.

• Repeatable Success for Sales Development Reps with Brendan Barrett #188
• Startup Story Where Software Goes to Seed with Charlie Wiltgen #179
• Myths on Social Selling with Mark Hunter #142
• Understanding the Value of Testimonials #126
• 6 Simple Steps for Generating New Leads With Chris Helmers
• What Startups Need to Know about Business Development with Tim Allen #119

The post What's Not Working In Sales Today with Brandon Bruce #204 appeared first on Sales Babble Sales Podcast | Sales Training | Sales Consulting |Sales Coaching.