The Power of Developing Sales Intelligence
Sales professionals exponentially increase their likelihood for success by using a “rifle” rather than a “shotgun” approach to sales. They avoid traditional “show up, throw up” sales scripts and “feature barf” opening statements. Instead, they utilize sales intelligence specific to a particular problem, title, department, business, industry, or market. They don’t waste prospecting opportunities with inadequate, boring, generic, or irrelevant data. Hope is not a strategy. By conducting pre-call research, sales people convert traditional cold call obstacles into legitimate sales opportunities.
Exploring the wealth of online information begins on your prospect’s web site—your first online destination. The “About Us” section is often where you’ll be able to find names, bios, and contact information for key people, as well as useful details on the company.
Finding Email Addresses
A frequent question PHI receives in our Power Prospecting trainings is, “How do I find email addresses for my prospective prospects?” Or, “How can I effectively follow-up on my cold call without a follow-up email?” Good questions. And it’s usually not as difficult as people think. The key to finding an email address is using the Asterisk (in the search world, the asterisk is known as a wildcard). Replace missing words (names) with an asterisk and Google will fill in the blank(s). Use the Google asterisk to locate email addresses by entering an asterisk in front of the @ symbol, followed by the company’s website extension. For example, if you want to find email addresses for some of the people at the business Follett Software®, you would enter *@follett.com. Google will do the rest.
To be even more effective (and to narrow your search), use Google to find both an email address and the title of the person you are targeting. Simply put your search between quote marks for better results. For example, if you get a lot of results using just an asterisk when you’re searching on larger companies, you can add search terms to the query. For example, you can add job titles (e.g., “vice president, “vice president of sales,” “director of sales,” etc. (be sure to use the quotation marks). This is a quick and easy way to identify email addresses that will potentially match the exact title of the people you are targeting.
Finding Client Documents (PowerPoint’s, Excel files, PDF’s, Word documents, etc.)
Locating prospective client documents can be extremely useful for conducting pre-call planning and identifying topics of discussion for initial conversations—especially in high-value, high-dollar sales. For example, if you were conducting research to identify Follett Software® documents (PDF’s, Excel files, PowerPoint’s or Word documents) you would use the following searches: “Follett Software” filetype:pdf or “Follett Software” filetype:xls, or “Follett Software” filetype:xlsx, or “Follett Software” filetype:ppt, or “Follett Software”filetype:pptx, or “Follett Software” filetype:docx. Excel spreadsheets might contain client lists and budgets. A PowerPoint document might be a sales proposal or a copy of a presentation given at an industry conference. The point is that there might be incredibly useful information “floating” in cyberspace that can be used to provide insight, information, intelligence, and value to open an initial sales call.
Finding Client News
One of my favorite Google tools is the sort option “News.” Prior to a prospecting call or client meeting, conduct a Google search on the company’s name (use quotation marks around multiple word names). Click on the “News” link, and read recent press releases and articles about the company. Find out what’s going on in their world BEFORE you pick up the phone, send an email, or walk into a meeting. By sorting your search results by “News” you can quickly find information that you can use in your opening statements, conversations, or meetings. I personally use Google News before almost every call or meeting.
Finding Client and Competitive Information
If you haven’t already, visit www.google.com/alerts. It’s a fabulous tool. Quick and easy! Simply enter your search query and select how often you’d like Google to email you news results. Use the minus sign and remove jobs from your search results (e.g., “widget corporation”-jobs) because you most likely don’t want an email every time Google finds a company job posting. Then again, maybe you do!
Think of a current client, potential client, or competitor and:
• Visit www.google.com/alerts.
• Enter a company name, person’s name, or any other search query you might find useful.
Imagine what you could do as a salesperson if you received up-to-date news and information about your clients, prospects, and/or competitors. That is Sales Intelligence!
Finding Client Timelines
Google “Timeline” is an excellent search tools used by savvy sales people researching larger clients. Click the “timeline” link and you’ll see a graphical representation of a timeline showing the date ranges where information has been published that is related to your client or search. Prior to a call, email, or meeting, conduct a “Timeline” search, and within a few clicks you’ll have a detailed understanding of how things have evolved within a company or industry.
Free Company Information
When searching for general client information, use the following websites to conduct pre-call planning:
www.manta.com offers free basic D&B information on virtually every U.S. public and private company.
www.insideview.com can be used to make a list of additional resources and sales intelligence. Insideview.com offers comprehensive company information on public and privately held firms.
www.thomasnet.com is a specific registry for the manufacturing industry.
www.kompass.com is a company research engine (similar to www.solusource.com) specific to international companies.
Finding Personal Information
Imagine a search engine that scours the web but only looks for pages that contain information about people. Go to www.zoominfo.com or http://partners.zoominfo.com. Zoominfo.com is a great tool to gain personal information about a prospective client that can be used in a business conversation. ZoomInfo has a “People Search” tab on the home page. Visit the ZoomInfo biography page and you can learn more about the individual. In addition to personal information, you might find business email contacts and other useful information from the ZoomInfo’s database.
Note: If the name is a common name (e.g., Pat Smith), add additional information such as a company name, geographical location, and/or keywords or phrases.
LinkedIn
Using LinkedIn is a simple and easy way to gather general information about potential clients. By reading the profile of the person you want to meet, you can gain an incredible amount of information. View LinkedIn as a modern-day version of a physical Rolodex on steroids. A member’s profile typically includes work history, links to business and personal websites, hobbies, endorsements, and non-profit organizations where the person volunteers or donates. If someone is in your first level network you can also see his or her contacts, so you can potentially reference mutual relationships or business colleagues. LinkedIn is a good source for company information and employee contacts as well. Enter the name of a company into the search engine, on the results page, read the company overview, using the tabs, see who in the company is in your network, who at the company may have gone to the same colleague as you, and any recent new hires. You can also click the “Check Out insightful Statistics” link.
Facebook
Facebook is an easy way to find detailed information on companies and, depending on their public or private settings, people. Facebook will deliver result options if the company has a Facebook page. From a Sales Intelligence perspective, if you’re meeting with an executive and are able to see his or her Facebook profile, the information you can gain might include hobbies, movies and books they like, family information, political and
/or religious affiliations, and more.
Note: When you’re meeting with a potential buyer, it’s probably wise to NOT tell him or her that you were checking out his or her Facebook profile.
Mypeoplemaps.com
Mypeoplemaps.com is a useful sales tool. At the home page set up your free account, which gives you access to a limited number of searches per month. For unlimited access you can purchase a subscription and upload your contacts. A personal referral is one of the best ways to make a connection with a prospect. Now you can see whom you know that knows someone where you would like an introduction. At www.mypeoplemaps.com you can choose either a company or person search.
Credible vs. Creepy Use of Sales Intelligence
To ensure your prospects or existing clients don’t think that you’re a stalker, it’s critical that you use information you find about them carefully. As a professional sales person you don’t want to begin a first-time sales call by starting your greeting with, “Hey, congratulations on your sixth-grade daughter scoring the winning goal at her recent soccer game.” Besides creeping out your prospect, you might also end up with a call from the police. Use some tact. Find information about the people, their educational background, work history, awards they’ve won, charitable work they’re involved with, things that you know they care about and can mention during your conversation. That’s how you can impress a potential buyer and show them you’ve done your homework without making them feel awkward, or uncomfortable, or worse.
Implementing Pre-Call Sales Intelligence
If you haven’t done your homework, you run a risk of introducing topics that are uninteresting, boring, non apropos, or irrelevant to your buyer. Armed with sales intelligence, on the other hand, you can cite an industry issue, a recent company event, a known problem, or even a quote from a CEO that might interest your prospect and encourage a conversation.
Examples of including sales intelligence in a script include:
Hi James. This is Darren Dibb and I’m calling from ACME Marketing. I was reading InfoWorld where your CEO mentioned________. I’d like to speak with you briefly to show you how we’ve helped smaller companies like you create global vertical niches when faced with larger competitors. In fact, we have a similar client and they’ve seen a 24% increase in profits since we’ve launched our campaign. If I’ve caught you at a good time, I would like to ask a few questions to see if this would be of interest to you.
Hi________. This is________with________. I read the recent article in________and it was quoted as saying________. I found that comment really interesting because my firm________. I’d like to set up a discussion with you and take a few minutes to share how we help companies with similar issues.
Implementing Sales Intelligence in a Voice Mail
When sales intelligence is used in a voice mail, the likelihood of a returned call grows exponentially. Lets face it: most calls end in a voice mail. So taking every opportunity to make a strong voice mail impression is incredibly important. If you haven’t done your homework, there’s a good chance you’ll leave a voice mail message completely irrelevant to your prospects interests. With the “Fourth R,” (Research), you can cite an industry issue, a recent company event, a quote from a CEO, or something that will interest your prospect and encourage a return call.
After acquiring pre-call sales intelligence, an example voice mail might include:
Hi________. This is________. I’m calling from________. I invite you to call me back at________or email me at________. I read a recent article in________where________was quoted as saying________. I found that comment really interesting because my firm specializes in . I’d like to set up a brief meeting to discuss________and share with you how we help companies with similar issues. My phone number again is________. My email address is________. I look forward to hearing from you.
In Summary
One of the primary dividends of acquiring sales intelligence is confidence. Identifying relevant, insightful, and meaningful information about a potential buyer builds seller confidence. And confidence is the key to making a superb first impression. Armed with sales intelligence, sellers exude confidence in their voice, attitude, and demeanor. They feel, sound and act more successful and this positive energy is magnetic to buyers. And the really good news is that with just a few “tips and tricks” of online research, it can take less than ten minutes to develop the necessary sales intelligence to convert a cold call into a warm call.
II
part two
Power Prospecting
8.Opening the Prospecting Call
9.Working With Gatekeepers
10.Establishing a Powerful Telepresence
11. Creating an Initial Benefit Statement
12. Objection Management
13. Phone, Fax, Voice Mail and Email
Chapter 8
Opening the Prospecting Call
In 51 B.C., the king of Egypt, Ptolemy XII, died, leaving behind four potential heirs to the throne. By tradition, the eldest son, Ptolemy XIII, who was only 10 years old at the time, married his elder sister, Cleopatra, who was 18, and the two of them ruled Egypt as husband and wife. Since none of the Ptolemy heirs was satisfied with the situation, each vied for more power and a struggle emerged between Cleopatra and Ptolemy XIII as each tried to take command. In 48 B.C., Ptolemy XIII gained the support of the Egyptian government and forced Cleopatra to flee the country, leaving himself as sole ruler of Egypt. While in exile, Cleopatra schemed to restore Egypt to its glory days knowing that her brother was too weak to accomplish such a task.
Within months of Cleopatra’s banishment, Roman dictator Julius Caesar, sensing the political vulnerability of Egypt, sought to make Egypt a Roman colony. News of Caesar’s arrival in her country emboldened Cleopatra as she saw an opportunity to bypass the Egyptian bureaucracy and regain her lost power. Traveling hundreds of miles in disguise, and, as legend has it, reentering Egypt smuggled inside of a rolled up carpet, the young queen was gracefully revealed at Caesar’s feet as the carpet was unfurled for the powerful dictator. Cleopatra immediately poured her feminine charm on Caesar, seducing him in order to support her cause.
Outraged that Cleopatra had outmaneuvered them, Ptolemy and his siblings summoned a great army and attacked Caesar in Alexandria. Although Caesar was caught off guard and narrowly escaped, he eventually repelled the attack. In the chaos of retreat, Ptolemy drowned while crossing the Nile.
Cleopatra married her 11 year-old brother, Ptolemy XIV, to reinforce her position as the uncontested queen of Egypt even though she was the lover of Caesar, to whom she bore a son named Caesarion. Mysteriously, Ptolemy XIV died four years after his marriage to his older sister.
When Caesar died in 44 B.C., Cleopatra’s power was once again vulnerable, and she knew that her only hope of survival was to maintain her alliance with Rome. Exercising the same charm and stratagem she used on Caesar, she seduced Roman general, Marc Antony. Antony fell deeply in love with Cleopatra (the couple had three children) and used his political and military power to protect her until 31 B.C. when he was defeated by the first emperor of Rome, Caesar Augustus.
A woman of great intelligence, Cleopatra ruled Egypt for almost twenty years, making the most of her physical charms to strengthen her control of Egypt. Her most significant political calculation, however, was bypassing the bureaucrats of the Egyptian government and going straight for the pinnacle of power to achieve her objectives. Rather than collaborating with the existing Egyptian government, she sought the support of the most powerful men in the world at the time: Julius Caesar and Marc Antony.
Choosing Your Point of Contact
Like Cleopatra’s decision to bypass the Egyptian bureaucracy and instead immediately go for the apex of Roman power, determining where to open a business-to-business sales call is not a trivial matter.
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sp; Questions about sales calls abound: where is the best place to open a sales call in a traditional business organization; are there rules about where to initially open a sales call? Are there dangers associated with initiating contact too low in a business hierarchy?
Choosing a point of contact needs to be a well thought-out decision. Beginning a call too low in a business hierarchy, for example, can waste time and link sellers to non-decision-makers. Beginning too high, on the other hand, can slam a sale shut if a seller is unprepared or speaks to an executive without a clear understanding of the company’s needs and problems.
Note: The general guideline is to start the initial sales call high on small, owner-run businesses and low on larger accounts that involve more than one decision maker.
In complex, committee-based sales, sellers need to take the time to learn who the players are, what the prevailing view of the competition is, and how the proposed offering can solve specific customer problems.
I had a listener call my business radio show and state that while attempting to get his foot in the door of a major financial firm, he decided to go right for the jugular and call the president. To his surprise, when he phoned the company, the receptionist answered and immediately put him on the phone with the CEO. My listener gave his usual opening statement and made a few remarks, but it wasn’t enough. The CEO showed no interest in his product and hung up. That caller is probably still kicking himself for wasting such a fantastic opportunity. Unfortunately, his mistakes are clear. Without sufficient pre-call planning, he chose to initiate contact at the pinnacle of power without first establishing a strong foundation that demonstrated a clear need for his product. He couldn’t be specific. He couldn’t drop names and situations that would have piqued the interest of the CEO.
Power Prospecting Page 8
