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Eric Graf, CEO of Flockgen, explains how mid-market businesses can trade relationships with one another to expand service offerings and lower customer acquisition.
As sales reps, we need to make appointments and we need to make sales but often times, we don’t know how to find the best people. Typically, we develop a prospect list and a sales pitch and bring on a marketing team.
It becomes the core business.
Eric cites this as a common problem that negatively affects business with regard to customer acquisition.
At Flockgen, clients are able to increase their bottom line because the cost of customer acquisition is spread among the partners.
Expanding beyond the coreMid-market companies can expand the conversation with their customers beyond just the core aspects. When they do, they will realize that the prospect of monetizing exists in multiple areas which are often overlooked.
At Flockgen, the cost of customer acquisition is spread across multiple services far beyond what mid-market companies might do in the core.
As an example: There are already a number of partners with great businesses that sell telecom products. Some have had the same product for the past ten years, but their sales reps can’t talk to the customers beyond the core even if they wanted to.
They don’t have anything else to present to those customers. [00:53]
Flockgen offers an alternative solution.
They can drive revenue with those relationships around completely different products and services. Ones that have nothing to do with telecom.
They leverage those relationships to introduce new products and services in a way that doesn’t require a lot of cost because they already have hundreds of partners that offer many different things. [02:46]
Such a partnership allows you to do more in one place instead of finding a partner with many companies on your own.
By focusing on the ways mid-market companies work together to become stronger and build revenue, everybody wins.
Creating a well-oiled referral processReferrals are a natural part of sales. They drive revenue and create business.
Flockgen partners with people they know and trust.
Using the telecom example again, suppose you have a salesperson selling phone systems all day long. As a partner with Flockgen, the salesperson could also talk with customers about sustainability, controlling costs, or operations. He has a credible way to have that conversation because Eric and his team have provided him with content and talking points.
He doesn't have to be an expert in the field. Instead, he just has to be able to access the interest in the client. [04:16]
The Flockgen DifferenceThe Flockgen concept developed organically. Eric spent the last ten years working in the energy industry where he saw a lot of disruption. There were many new companies with new services and new products, and declining costs all around.
Previously, Eric was in the telecom world, which he views as a more mature industry in terms of sales and marketing. Everyone knows each other and works with a collaborative spirit despite competition. Actual channels exist that allow people to team up and co-market.
Eric hoped to build similar channels in the energy industry by borrowing the ideas that worked for telecom.
Educating their partners is a key. How does referral marketing work? What are the pros and cons? [05:32]
Rightsizing the program and menu for each of their individual partners is what sets Eric and his team apart. No two businesses are the same, even if they do the same thing. What works for one might not work for the other, or for their sales team.
Matching capabilitiesFlockgen matches capabilities in an intelligent way with their partner sales team so that everyone feels comfortable and credible when having conversations. It allows them to drive relationships further. [06:31]
Establishing bilateral relationships with their partners is crucial to the success of every party. Each can refer business to the other by promoting services up and down their respective networks.
One partner could be driving revenue one day and receiving referrals the next day from others in the network who are doing the same thing.
Getting started is easy. It is just a matter of understanding what you do, what a new customer base would mean to you, and what services you offer.
Flockgen makes sure everyone in your organization is on the same page.
[Tweet "You can’t grow a company alone. Sharing a pool of clients is essential. It saves money and time to partner and share opportunities. #ClientAcquisition"]
If you are a large company, then you already have the business development teams and the corporate development teams in place to establish relationships. But it can be difficult to keep those relationships fresh. [09:29]
Eric’s approach is for everyone to meet in the middle to allow collaboration and to set clear terms with one another.
He believes that despite doing well at the start, many businesses that focus on partnering and collaborating will fail because they are not structured correctly. One partner gets the shorter end of the stick, perhaps. [11:37]
Flockgen focuses on healthy partnerships. They maintain the relationships so that you can concentrate on talking to clients and building value.
Transparency = TrustProviding transparency is critical to the success of the partnerships they create. When both parties understand the terms, it protects the credibility of the relationship. What happens when I refer to you? What happens when you refer to me?
It becomes a matter of trust. It drives behavior. [13:39]
When everyone brings the right attitude, a real willingness to focus on the customer, and is respectful of the initial relationship with the client, value is added to all of the relationships. [15:03]
Flockgen partners only with those who stand by their work. Those they can trust to do good work and who do not hesitate when asked for customer references.
It’s not who you know, it is who you know that you can trust.
The partners utilizing the networks at Flockgen are driving their revenues and driving their commissions. It works because everyone is focused on creating the best customer experience.
There are lots of folks who represent or promote similar services but they don’t backstop and track and monitor, or intervene when necessary, as relationships mature and transactions come together the way Flockgen does. [17:45]
Flockgen levels the playing field.
Mid-market businesses in the US generate 26% of the revenue in the US despite comprising only 1% of the commercial active firms. A large portion of the market is generally overlooked and underserved.
Eric encourages everyone to take those businesses seriously when thinking about who you are selling to and how you are positioning your services and products. [18:26]
Think about how to reach those customers.
"Lower Customer Acquisition Costs" episode resourcesThe front door is always open at Flockgen. Visit them at www.flockgen.com
This episode is brought to you in part by mailtag.io, a Chrome browser extension for Gmail that allows you to track and schedule your emails. It's super easy, it's helpful, and I recommend that you try it out.
You'll receive real-time alerts anyone opens an email or clicks a link.
This episode is brought to you in part by prospect.io, a powerful sales automation platform that allows you to build highly personalized, cold email campaigns. To learn more, go to prospect.io/tse. It will help you with your outbound to expand your outreach. It allows you to set it and forget it. Your prospecting will never ever be the same.
Previously known as TSE Hustler's League, our TSE Certified Sales Program offers modules that you can engage on your own schedule as well as opportunities to engage with other sellers in other industries.
I hope you enjoyed the show today as much as I did. If so, please consider leaving us a rating on Apple Podcast, Google Podcast, Stitcher, or wherever you consume this content and share it with someone else who might benefit from our message. It helps others find our message and improves our visibility.
If you haven't already done so, subscribe to the podcast so you won't miss a single episode, and share with your friends!
Audio provided by Free SFX and Bensound.
Mentioned in this episode:
HubSpot and bluëmago | STUDIOS
HubSpot and bluëmago | STUDIOS
Josh Cunningham, founder and CEO of rokrbox, fast-tracked his entrepreneurial career by helping to solve a recurring problem for real estate clients and learning an important lesson along the way: Don’t trick them.
Josh first stumbled upon the ISA, or Inside Sales Agent, role in real estate while attending seminars with Vyral Marketing founder and CEO Frank Klesitz. Vyral Marketing works with top agents to create content and to get referrals and repeat business.
THE ENTREPRENEURIAL SPIRITMany top professional teams buy real estates leads online, but their agents don’t always do a good job of following up on them.
Like any good entrepreneur, when Josh heard a lot of people complaining about a common frustration, he decided to solve the problem. [00:39]
He started rokrbox.
A rocker box is a gold mining tool used in the 19th century to separate the sand and gravel from the gold. Likewise, rokrbox takes your real estate leads and separates the tire-kickers and time wasters from the motivated buyers and sellers. [01:26]
TAPPING INTO THE STUDENT MARKETRokrbox is strategically located directly across from the Texas A&M University campus in College Station, Texas. Many sharp and enthusiastic young professionals go there looking to grow their skills.
Josh provides them with the opportunity to develop real-world sales skills, CRM skills, and pipeline management skills. All of his student-employees typically graduate with multiple job offers from some type of sales professional career. [02:21]
Since starting in 2013, rokrbox has worked over a million internet leads, hired over 250 ISAs, and trained them to move forward in their careers.
Looking back, Josh believes that scalability was his biggest sales-related struggle. He knew he could do the job but wasn’t sure if he could train others to do it. When he first started hiring college students, he realized a lot of the same struggles that most people run into when building any sales team.
SET CLEAR EXPECTATIONSHis first mistake was in not clearly setting expectations for the new hires. The job posting on the Texas A&M website was too vague.
It wasn’t clear that a new hire could expect to make a ton of phone calls a day, could expect to be rejected all day, etc.
It was just too ambiguous.
As a result, a new hire might go through the entire interview process and personality assessment only to quit almost immediately after starting the job.
One young man, in particular, spent over 15 minutes learning the types of calls to make, the technology/scripts/dialogue used and the likelihood of repeated rejection.
He excused himself to use the restroom and never came back. [04:28]
Josh blames himself. He had failed to set expectations and to make clear to potential hires what they were getting into. He felt as if he had tricked people into taking the job which is not how to start a sales organization on the right foot.
OBSERVATIONAs a result, rokrbox implemented observation into the business. Now, they invite promising applicants back to pair up with a senior rep as part of the interview process. They spend a full hour learning what to expect on a shift – from the technology to the daily team huddle, to the reports and the metrics.
They are encouraged to ask questions. It is their chance to interview the business.
At the conclusion of their observation session, applicants are asked to send an email to explain how they would fit into the rokrbox culture.
It has been amazing to see the persuasive essays they receive. [05:43]
ESSAYSJosh enjoys hearing people explain why they want to be a part of the organization more than having them sneak away on a bathroom break, never to return.
He highly recommends showing potential hires exactly what they can expect. Show them what it is like to be on the phone or knocking on doors. Be totally straightforward from the very beginning.
The people who realize the opportunity in what you offer are the people you want to hire. #NewHireCLICK TO TWEET
Josh believes that when building a culture worthy of your organization, it is likely that you will strongly attract the right people and strongly repel the wrong ones. And certainly, not everyone who attends an observation responds. The work and the pace intimidate some people. [07:30]
But he wouldn’t change a thing.
Rockrbox invests a lot of one-on-one training in every new employee before they are ready to do the job. Twenty hours on the new hire combined with 20 hours of the trainer’s time: Forty hours is a huge investment if someone might either bomb or quit.
TRANSPARENCYIt is definitely better to be transparent and upfront.
Anything less is simply a waste of everyone’s time.
Have a collection of people that are all driven and motivated, in a cohesive unit, and headed in the same direction. A team that supports and enjoys each other becomes a better team because of it. It’s the most harmonious thing you can do with any business.
Know the culture you want to create and then protect it. Invite others to observe whether or not it is right for them. [09:16]
Once you become a leader of others, give them your expectations and the tools to succeed.
Clearly communicate all of it – the good, the bad and the ugly. [11:22]
“DON’T TRICK THEM” EPISODE RESOURCESTo learn more about how rokrbox converts the online leads of top sales professionals in the real estate industry, visit www.rokrbox.com or contact Josh directly at [email protected].
This episode is brought to you in part by prospect.io, a powerful sales automation platform that allows you to build highly personalized, cold email campaigns. To learn more, go to prospect.io/tse. It will help you with your outbound to expand your outreach. It allows you to set it and forget it. Your prospecting will never ever be the same.
Previously known as TSE Hustler’s League, our TSE Certified Sales Program offers modules that you can engage on your own schedule as well as opportunities to engage with other sellers in other industries.
This episode is brought to you in part by mailtag.io, a Chrome browser extension for Gmail that allows you to track and schedule your emails. It’s super easy, it’s helpful, and I recommend that you try it out.
You’ll receive real-time alerts anyone opens an email or clicks a link.
I hope you enjoyed the show today as much as I did. If so, please consider leaving us a rating on Apple Podcast, Google Podcast, Stitcher, or wherever you consume this content and share it with someone else who might benefit from our message. It helps others find our message and improves our visibility.
If you haven’t already done so, subscribe to the podcast so you won’t miss a single episode, and share with your friends!
Audio provided by Free SFX and Bensound.
Mentioned in this episode:
HubSpot and bluëmago | STUDIOS
HubSpot and bluëmago | STUDIOS
Tracking your performance and setting measurable goals will help you perform better as a sales rep. We can optimize our performance if we calculate our daily output to help us fine-tune our work.
Sales professionals are competitive creatures by nature, whether we're competing against others or against ourselves.
When performance is measured, performance improves. When performance is measured and reported, the rate of performance accelerates.
PotentialI participated in a leadership retreat in college and the speaker asked me to participate in a demonstration by jumping as far as I could. She then measured the distance and asked me to jump again to see if I could beat my original effort.
Turns out I did, because I had a measurable goal.
If I hadn't measured my first attempt, I wouldn't have known whether my second attempt was better. As a sales professional, you'll benefit if you measure your activity on a daily basis. [03:42]
OptimizationYou're probably already planning some of your work: prospecting, phone calls, LinkedIn contacts, and those efforts are all great. But in order to optimize, now you must measure those efforts.
If you're making phone calls, what are you measuring?
Start writing down and measuring your key indicators. [04:14]
If you're measuring LinkedIn activity, what are you measuring?
Develop key indicators or key performance metrics that you can measure on a daily basis.
TrendsWhen you measure those numbers, you'll begin to notice trends.
You might notice that you set more appointments on Wednesday and Thursday than on Monday and Friday. You may discover that you successfully connect with more people on LinkedIn on Tuesdays. [04:51]
This effort may sound like a lot of work, and some of you may think you can't possibly find the time. Realize that top performers in every industry are measuring and optimizing their efforts. That's how they improve.
CoachingThat's also where coaching comes into play.
Now imagine you're measuring these numbers and your performances while you're being coached. You're going to quickly discover that you're improving quickly.
The problem is that we often get comfortable with our performance level. We settle for an acceptable amount of production and we accept it as our best.
You may recognize this mindset as, "This is how I've prospected for years, so I'm going to stick with this format." [05:57]
Challenge that thinking. Perhaps you'll work with a manager or a sales leader or even the CEO. Accountability will make you even more effective.
StrategyWhen I'm collaborating or sharing with someone else, I may discover different strategies that are working for other sellers.
The danger is in thinking that you can't learn from others or believing that you already have all the answers. You won't increase or improve or progress.
When I started writing down day-to-day performance, I wasn't competing against my team. I was competing against my previous performance.
I started closing more deals because I listened to my podcast guests and got beyond my weaknesses. Then, I read books and got better insights. Really, though, I improved simply because I was conscious of my efforts. [08:36]
This year was our best ever, and we haven't even fully optimized our tracking and measuring.
Tracking your performance makes a huge difference.
PlanningSend me an email if you'd like to see what I'm doing and how I'm scheduling my day.
I use a planner and a Gmail calendar. I list tasks and color code them to differentiate different activities. If you're wondering, I use green for money-generating activities.
I use a different color for admin tasks so I can visually see how my day looks.
At the end of the day I ask myself four questions:
I'm no genius, but it's working for me, and I want to challenge you to do it as well.
"Tracking Your Performance" episode resourcesThis episode is brought to you in part by prospect.io, a powerful sales automation platform that allows you to build highly personalized, cold email campaigns. To learn more, go to prospect.io/tse. It will help you with your outbound to expand your outreach. It allows you to set it and forget it. Your prospecting will never ever be the same.
Previously known as TSE Hustler's League, our TSE Certified Sales Program offers modules that you can engage on your own schedule as well as opportunities to engage with other sellers in other industries.
This episode is brought to you in part by mailtag.io, a Chrome browser extension for Gmail that allows you to track and schedule your emails. It's super easy, it's helpful, and I recommend that you try it out.
You'll receive real-time alerts anyone opens an email or clicks a link.
I hope you enjoyed the show today as much as I did. If so, please consider leaving us a rating on Apple Podcast, Google Podcast, Stitcher, or wherever you consume this content and share it with someone else who might benefit from our message. It helps others find our message and improves our visibility.
If you haven't already done so, subscribe to the podcast so you won't miss a single episode, and share with your friends!
Audio provided by Free SFX and Bensound.
Mentioned in this episode:
HubSpot and bluëmago | STUDIOS
HubSpot and bluëmago | STUDIOS
In this episode of The Sales Evangelist, we talk about how to take advantage of the power of chat when growing your business.
Many organizations have struggled to capitalize on the power of chat, but Amir and Tom share the struggles they’ve had using chat and how we can overcome them.
Tom Jenkins and Amir Reiter help companies scale their workforce without having to get offices, pay insurance and taxes, or worry about hiring and training.
Instead, they offer technology and strategy.
At CloudTask, they provide sales development reps, they manage account executives convenient and they manage the customer success/account reps responsible for renewals and upselling to existing customers.
They comprise one office. If someone wants to hire five sales reps, five account executives or five support reps, they will all be in office and managed so that the customer gets what they want – representation and results.
By specializing in sales, customer success and customer support, CloudTask is the best of the breed. [00:51]
THE POWER OF CHATOne of the biggest issues is a lack of clearly defined ownership. If you look at our partners at Drift.com for instance, their ability to work as a bot or as a human can confuse whether chat is owned by marketing or by sales.
Marketing is typically used to drive traffic to forms, to blogs and to sign-ups. As such, marketing tends to prefer automation.
Sales, however, relies on people first, so deciding who owns chat is often a hurdle.
Failure to assign ownership then creates a failure to act or a failure to implement correctly. [02:19]
We manage a lot of cloud chat programs and have noticed that many people view chat as just another tool for the reps to use in addition to calling, emailing, LinkedIn, etc.
Rather, with a high volume of web traffic, chat is a key tool in the generation of qualified leads.
In fact, because chat allows you to respond quickly with the right answers and in the right way, it can be your number one lead generation tool. [03:17]
QUALIFY LEADSPeople today want answers now. They expect to be able to go onto a website and to be able to chat. It has worked well in the B2C world but is really moving quickly into the B2B world as well.
We are finding that an MQL (marketing qualified lead) or SQL (sales qualified lead) that chats with a member of the sales team is 2-3 times more likely to close versus one that goes through the process of filling out a form. It makes sense. A form is stationary and available to anybody.
With chat, you are able to quickly let people qualify themselves with a friendly discussion.
For example, suppose someone wants to hire a sales rep. Within a few moments, we can discuss salaries and budgets and determine right away if it is something to pursue, or not. [04:54]
CHAT CONVERSATIONChat does not replace cold calling or emailing but it does allow the person who visits your website to have a conversation with you and determine for themselves if they want to move forward.
The desire to engage is up to the visitor. As the sales rep, you increase the level of engagement with your replies. Consider “I’m here to help sales leaders every day, how can I help you?” instead of “How are you?”
People want to work with companies that can fix their problems. Target the message to visitors as much as you can in order to increase engagement with them.
You will receive visitors who want to know more about the topic rather than starting from scratch.
You don’t want to write too much in a chat forum, of course. Start by keeping the conversation focused on the problems you are trying to solve for your prospects. [06:48]
The initial engagement is absolutely key but response time is just as essential. Buyers are conducting research and they want answers.
Failure to respond within one minute, despite having the best response in the world, exponentially decreases the likelihood of obtaining a qualified lead. #saleschatCLICK TO TWEET
It is imperative to be super sharp and to answer quickly. [08:10]
PIQUE CURIOSITYWhen you give visitors the information they want to the questions they ask, they begin to ask the more sales-related questions themselves.
Knowing how to give people the right amount of information so as to pique their curiosity without being overly aggressive is a skill.
For example, the best way to answer many of the questions about a technology product is with a demo. An aggressive tactic might be “this is the best product and it will solve all your problems.”
“We want you to get your eyes on this to see what you think about it” is a better approach, however. It allows the buyer to have ownership in the decision.
Chat also identifies return visitors so that you don’t have to start all over from the beginning each time. [09:42]
SALES OR MARKETINGWhen Sales and Marketing are aligned as a team with the common goal of getting customers, ownership is less important.
When Sales and Marketing are not aligned, better results occur when chat ownership is with the sales team. Sales speaks to people and that brings results.
It is really important that everyone involved be 100% clear on which team does what so that each can grow and build expertise. [11:27]
Decide first if you will make your own chatbot or use a company like Drift or Intercom.
Many such companies have partner systems that can help with deployment. They are also set up to support the user and the sales cycle. It can be a big jumpstart toward a successful launch. [13:30]
COMMON MISTAKESToo much automation. We’ve seen companies who don’t get the results they want right away so they just scrap the whole thing versus A/B testing people.
Everyone wants leads. It is the goal of every company but people make the chatbots and automation too much about themselves.
They try to get contact details and meetings rather than making the initial interactions about web visits. They aim to fulfill their own needs rather than the needs of potential customers. [14:25]
Chat gives buyers the ability to raise their hand, to tell you who they are and where they are in the sales cycle. It gives them the ability to get what they want now instead of going through the standard sales process. [15:28]
SUCCESSESWe have an interesting case now with a client who had used chatbot before but didn’t get the results they had hoped for. They weren’t particularly sold on the idea but were willing to give it another try.
We were able to successfully implement a program on Drift consisting of a training program, as well as the addition of five sales development reps.
As a result, they realized $3.5 million in opportunity and $1 million in closed within eight months.
They appreciated our complete focus and specialization. We also provided them with quality assurance teams that checked in on the chats, and we worked really well together. [16:17]
We represent your company and do what needs to be done, just like employees.
The main difference is that instead of getting one new employee, our client gets a whole team. We are remote to you, but not remote. It is like having multiple offices or a satellite office.
We check on everything. [18:28]
Don’t blind yourself with the idea that you can’t use chat for enterprises.
Even if your sales process has you on flights to Hong Kong, or spending nine months working a deal, it can still start with a chat.
Don’t consider chat as a replacement but rather as an extra channel that gives people the ability to communicate with you faster.
It can be such a cool tool to add to your cause, to your social network, and to your social ads.
When used correctly, chat will deliver results. [19:59]
“POWER OF CHAT” EPISODE RESOURCESVisit Tom and Amir at Cloudtask.com or through their partners at Drift.com. Allison manages their chat and is always more than happy to help everyone. Experiencing their services first-hand is the best first step.
This episode is brought to you in part by mailtag.io, a Chrome browser extension for Gmail that allows you to track and schedule your emails. It’s super easy, it’s helpful, and I recommend that you try it out.
You’ll receive real-time alerts anyone opens an email or clicks a link.
This episode is also brought to you in part by prospect.io, a powerful sales automation platform that allows you to build highly personalized, cold email campaigns. To learn more, go to prospect.io/tse. It will help you with your outbound to expand your outreach. It allows you to set it and forget it. Your prospecting will never ever be the same.
Previously known as TSE Hustler’s League, our TSE Certified Sales Program offers modules that you can engage on your own schedule as well as opportunities to engage with other sellers in other industries.
I hope you enjoyed the show today as much as I did. If so, please consider leaving us a rating on Apple Podcast, Google Podcast, Stitcher, or wherever you consume this content and share it with someone else who might benefit from our message. It helps others find our message and improves our visibility.
If you haven’t already done so, subscribe to the podcast so you won’t miss a single episode, and share with your friends!
Audio provided by Free SFX and Bensound.
Creative content provided by [email protected].
Mentioned in this episode:
HubSpot and bluëmago | STUDIOS
HubSpot and bluëmago | STUDIOS
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