Social Selling - Trigger Events for sales
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Register here We are all familiar with the “domino effect”, one domino falls, causing the others to fall in a predictable way, the thing that causes the domino to fall in the first place is the “Trigger”. In sales there are many types of triggers, some simple and visible, others more intricate and not always in plain view. Events are the simplest and most obvious form of triggers in sales, something happens, and this event sets things in motion, the dominos falling. How well prepared you are in advance will help determine how well you can leverage events when they come to your advantage. Events can include change in personnel in an account, a competing vendor; change in regulation; mergers and acquisitions; regulatory; economic and more. How well you plan, recognize and react to a given event will have direct impact on your success in winning more customers, penetrating and retaining existing clients; all with greater predictability and in shorter time frames.
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Social Selling - Trigger Events for sales
- 3. TiborShanto Principal – Renbor Sales Solutions Inc. B2B New Business Acquisition Focus on Execution Helping companies and individuals succeed and sell better by delivering results rather than just completing tasks. (800) 661-8760 Tibor.Shanto@SellBetter.ca www.SellBetter.ca www.SellBetter.ca www.twitter.com/renbor Youtube.com/Sellbetter
- 4. “The two most important requirements for major success are: first, being in the right place at the right time, and second, doing something about it.” Ray Kroc, Founding CEO, McDonalds
- 5. Today is first of two Background What are Triggers Triggers – 101 – Events Actioning Events Triggers
- 6. Trigger – Cause that leads to Effect, more specifically a reaction or response Background School
- 7. Trigger – Cause that leads to Effect, more specifically a reaction or response Background
- 8. Trigger – Cause that leads to Effect, more specifically a reaction or response Background
- 9. Joe Sugarman – Direct Marketing pioneer "Direct Marketing Man of the Year" in 1979 Discovered “Triggers” Triggers in Sales
- 10. Basic – Entry Level Triggers Trigger Events
- 11. Buying Modes Window of Dissatisfaction™ Searching Alternatives Status Quo Happy with Status Quo Not Searching For Alternatives Unhappy with Status Quo Not Searching For Alternatives Unhappy with Status Quo Searching For Alternatives
- 12. Timing and Value Value Value Window of Dissatisfaction™ Status Quo Searching Alternatives Value Perceived Values Your Value Current Supplier’s Value The Nearest Competitors Value
- 13. Timing and Selling Value Value Window of Dissatisfaction™ Searching Alternatives Higher Close Ratio Lower Close Ratio Higher Prices Lower Prices
- 14. Timing and Selling Window of Dissatisfaction™ Searching Alternatives Core Peripheral Loyal Disloyal 80% of Profit 20% of Profit 80% of Headaches 20% of Headaches Reference Referrals
- 15. So, what takes someone who is in Status Quo on Monday into the Window of Dissatisfaction™ on Tuesday? The answer is simple: They experienced an Event that Triggers their Dissatisfaction. Actual Experience no longer exceeds Expectations Happy and not looking – Unhappy but not yet looking Trigger Event
- 16. Status Quo is your competition Action Follows Action – Inaction Follows Inaction Perception is Reality Trigger Event
- 18. Bad Experiences Products, people, providers Change / Transition People, places, priorities Awareness Legal, risk avoidance, economics Trigger Events
- 22. Take steps today to be the first person a decision maker calls when they experience a Trigger Event? Leveraging Trigger Events
- 24. Reduces risk – slightly
- 25. Improves Timing
- 27. Tells us who/what to avoid
- 29. Improves Timing
- 31. Greatest opportunity for ROE
- 32. Won Deals
- 33. Tells us what to look for, move towards
- 35. Reduces time to deal – measurably
- 37. Poll Are you currently tracking: Executive movement Corporate events Market thresholds All of above Other
- 38. Example: CFO New CFO’s will make a measurable change to their existing office supply contract sometime between day 91 – 180 on the job Set Triggers
- 39. Sources
- 41. Set Triggers
- 43. Challenges Information Overload Lack of Completeness Lack of Actionability Lack of Relevance Lag time Lost Productivity
- 46. Carol Domino Effect Executive Change Opportunity #1 John ? Opportunity #3 Tim Opportunity #4 Opportunity #2
- 47. Example
- 48. Standard Referrals don’t work You need to connect with people who are: “In The Know” when a decision maker experiences People who are in a position to put you in front of someone who has or about to experience a Trigger Event Referrals 2.0
- 49. SLIDE :36
- 51. Planning Time Allocation For example (not a recommendation): 50% - Window of Dissatisfaction 35% - Status Quo 15% - Searching For Alternatives Increasing Velocity Leveraging Trigger Event
- 52. SLIDE :39 Join us April 21, at 1:00 pm Easternfor the second webinar in the series: Advanced Triggers – A Proactive Approach to Client Acquisition
- 53. Thank you! Tibor Shanto Renbor Sales Solutions Inc. Phone:+1 416 822-7781 E-mail: Tibor.Shanto@sellbetter.ca Blog: www.sellbetter.ca/blog twitter.com/renbor What’s in Your Pipeline? bit.ly/Renbor-SSU
- 54. Thank you! Questions!?! What’s in Your Pipeline? bit.ly/Renbor-SSU
- 55. | SLIDE :42 Social Selling University is not like social media courses which are typically designed for marketing departments. Social selling is a series of content that is being developed around how social media can be used to identify new opportunities and engage customers/prospects in social networks they spend the most time in. LinkedIn, Twitter, blogs and other social networks are filled with people asking for advice on products and looking to engage with friends, peers and experts to make intelligent buying decisions. This is where the opportunities are being created and sales people need to be part of those conversations. ### Social Selling University is brought to you by InsideView a Sales 2.0 leader, bringing intelligence gained from social media and traditional editorial sources to the enterprise to increase sales productivity and velocity. We were founded in 2005 by pioneers of the SaaS, CRM and Content industries to take advantage of the convergence of social media and enterprise applications.
Notes de l'éditeur
- Tibor: Let look at a specific. CFO ChangeCraig: So, this is a great example where you can leverage your knowledge and experience to get ahead of the curve. Knowing that what can you do?Tibor: You can set your Triggers in advanceCraig: There are so many different source you can tap
- Craig: Well let’s look at an example. First you can get Triggers and Trigger Event related information from many sources.Tibor: Many valid sources, CNN – CNBC, Google, Job boards – Monster, Blogs, All over
- Sham: Good Stuff, but What are you doing those 90 days?
- Tibor: That’s a great example, but one of the challenges I find revolves around time and timing. As we discussed timing is key, so you need to see the Trigger on time, and you need to be able to act in a reasonable time, even if you are prepared. So there are a number of things you need to deal with and manage not the least of which is having to figure out which are the most reliable and relevant sources.Craig: I know what you mean, sometimes it is like a fire hose of information coming at me, there is so much at times, it is like trying to find a needle in a hay stack.Tibor: It’s not easy, you have to deal with Information Overload, Lack of Completeness, Lack of Relevance, Lack of Actionability, Lag timeCraig: A big limitation is getting mostly relevant alerts and not getting mired down with a stream of irrelevant news that happens to have some keywords that match (give some examples of where keywords alone would bring the wrong stuff – e.g., trying to sell to Apple bringing up alerts for apple the fruit? Better examples?)Tibor: Not only that, but even when you get the right trigger, and let’s say you got in a usable timeframe, there is still the challenge drilling down and getting all the info and data you need to act with confidence.Craig: I know, you get something on CNBC, then you have to learn about the people involved, the comings and goings, what ever time you gained you end up spending getting further needed information.Tibor: This is why I am now using something that allows me to execute my plan and act with confidence and in a timely way.
- Craig: Expanding your view is keyTibor: Exactly, that is why I’ve opted to use a service that allows me to execute by allowing me to access a number of things all in one place, not only to set the Triggers, but to be able to access all I need before acting with confidence. To me it starts right at the beginning, when I am setting up my Triggers, Craig: Absolutely, the better they are set up at the start the better our ability to respond. So it’s not only sources but ease of creating the right Triggers.Tibor: Not only that, but that may be the thing that allows you gain and maintain momentum and velocity during the sale. There are a number of tools out there, I am currently using OneSource iSell.Craig: It does provide depth and flexibility
- Craig: Once
- Merger not to sell but to build a relationship so that they take you with them when they move