Help Small Businesses Save Time and Money with Inventory Management
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The words you say are your most powerful sales tool. Are you fully utilizing this tool and generating as many leads and sales as possible? Don’t be like most salespeople and just talk about your products to trigger interest. There is a better way and we will clearly outline that in our next webinar “Small Talk Track Changes – Big Sales Improvements”. In this webinar, you will learn: – Communicating the value that you offer – Bringing prospect’s challenges into your pitch – Asking powerful questions – Talking about your products and company in the best way You will get tips that you can immediately implement and see results. And this knowledge will be able to be applied to all the different ways that you communicate with prospects – over the phone, in emails, while networking, on your website, and more.
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Help Small Businesses Save Time and Money with Inventory Management
- 1. Make Small Talk Track Changes – See Big Sales Improvements Michael Halper Founder and CEO - SalesScripter
- 2. Three Key Assumptions 1. People don’t enjoy being sold to 2. The thing you care about most is you 3. Prospects get sold to a lot
- 3. Two Changes to Make 1. Don’t sound like a salesperson 2. Focus more on them than you
- 4. Some Examples Thanks for connecting. A lot of new things are going on with my company and I would like to share them with you in the near future. We help business owners acquire financial freedom in their business through coaching, training and personal development. I welcome the opportunity to work with you.
- 5. Some Examples Hi Michael, XXX specializes in accounting and financial services at affordable rates. We have experienced CPAs, and staff to handle all your bookkeeping, financial and tax needs. We offer per hour as well as dedicated outsource staff at a lower payroll cost then any in-house staff. Take advantage of our current 30% off any service, ends July 30, Book keeping rates start at $15/hr(after discount). Free trial, if you are not satisfied after 10hours of work, then you don't pay. Call us at XXXXXXXXXX
- 6. Some Examples Hey, I would like to introduce myself as a part of XXXX - A leader in data driven marketing solutions. If you're looking to acquire new customers or launch a new product or expanding your target market, you can gain access to all relevant databases from our repository of more than 32 million datasets worldwide. Do, let me know a good time to connect over the Phone and Email to discuss further strategies for your business. We also provide Integrated Marketing Solutions like: SEO (Search Engine Optimization) Digital Marketing Email Marketing Web Development Email Appending
- 7. Some Examples I hope everything is going great and thank you for connecting with me! I wanted to reach out and ask how you are handling your payroll and HR for your company? I am sure you have everything taken care of, but if there is any opportunity for myself and XXXXXX to earn your business, I would love to talk with you about what myself and XXXXXXX has to offer a business your size. I can be reached at XXXXXXXXX or XXXXXXXXX. What is the best way to reach you? I look forward to hearing from you!
- 8. Some Examples Hi Michael , On behalf of my team at XXXXXXXX, it would be a pleasure if you would allow us to help you expand the reach of your business through multi-channel marketing such as; - Appointment Setting - Telemarketing / Voice Campaign - Email and Social Media Marketing - Database Services with some value-added services. If you would like to know more about our services, as well as pricing and how our services work, drop us a message with your number to reach you best or book an appointment online;
- 9. Benefits Why do we do this? Product Company Features Functionality What we say when talking with prospects Very inward focused – me, my product, my company • Foundation of knowledge • Focus of training • Wealth of experience • Where we have interest • What leads to us getting paid • Introductions • Cold calls • Emails • Networking • Company website • Social media • Presentations It is what we are trained to do
- 10. Interest An Alternative ApproachValue Pain Qualify Credibility Objections Prospect Focused What we say when talking with prospects • Get outside your comfort zone • Identify how you help • Focus on the problems that you solve • Introductions • Cold calls • Emails • Networking • Company website • Social media • Presentations
- 12. What is Value • Transfer of an intangible attribute from one party to another that has a positive net worth • It is not your product, it is what your product helps your clients to do or to achieve • Examples: – Making something work better – Helping to save time – Helping to make money – Proving valuable information – Making someone’s day easier
- 13. Three Levels of Value Technical Value • Processes • Systems • People Automation of manual processes Improve performance Decrease time to perform work Improve reliability Business Value • Revenue • Costs • Services Improve revenue / market share / close rate Decrease cost of goods sold / labor cost Improve delivery of services Personal Value • Income • Career • Workload Increased bonuses, commissions Recognition and promotions Decreased/increased workload
- 14. Creating a Value Statement Short and Sweet Template We help [target prospect] to [insert technical, business, or personal value]. We help businesses to improve their ability to effectively manage their inventory levels. We help CFO’s to decrease cost of goods sold and administrative time.
- 15. Creating a Value Statement Connect Technical Value with Business Value Template We help [target prospect] to [technical value] and this often leads to [business value]. We help businesses to improve their ability to effectively manage their inventory levels and this often leads to a decrease in cost of goods sold as well as administrative time.
- 16. Creating a Value Statement Connect the Product with Value Template We provide [insert product] and this helps [target prospect] to [insert technical or business value]. We provide inventory management software and this helps businesses to improve their ability to effectively manage inventory levels. We provide inventory management software and this helps CFO’s to decrease their cost of goods sold and decrease administrative time.
- 17. Messaging Workflow Your Product 1. Inventory management software Your Value 1. Decreases time spent ordering 2. Increases ordering accuracy 3. Decreases time gathering information Product Value
- 19. What is Pain • Something not working well – Causing a negative impact • Something could be working better – Results are not as good as could be • Are things great, good, ok, or could be better ? – Great or good: probably no pain – OK or could be better: likely pain
- 20. Three Levels of Pain Technical Pain • Processes • Systems • People Slow, broken, or manual processes Poor system or employee performance Lack of reliability Business Pain • Revenue • Costs • Services Low revenue / market share / close rate High cost of goods sold / labor cost Poor delivery of services Personal Pain • Income • Career • Work Environment Low bonuses, commissions, compensation No recognition, no promotions / career path High workload, poor work–life balance
- 21. Messaging Workflow The Pain You Resolve 1. Spending too much time ordering 2. Ordering errors are occurring 3. Difficult and time consuming to gather information, no visibility Your Value 1. Decreases time spent ordering 2. Increases ordering accuracy 3. Decreases time gathering information Product Value Pain
- 23. What is Qualifying • Assessing prospects in two areas: 1. How well they fit with what you have to offer 2. How likely they will be to purchase • Performed two ways – Researching the prospect – Asking good questions
- 24. 2 Step Qualifying Process Step 1 – Pre-Qualifying • To make sure it makes sense to meet and keep talking • Takes place in first contact Step 2 – Qualifying • Identify if you can consider the prospect and lead are real • Takes place in first meeting
- 25. Messaging Workflow The Questions to Ask 1. How concerned are you about the time it takes to produce orders? 2. How often are there errors with the orders that are processed? 3. Do you feel like you have access and visibility to the information that you need ? The Pain You Resolve 1. Spending too much time ordering 2. Ordering errors are occurring 3. Difficult and time consuming to gather information, no visibility Product Value Pain Qualify
- 27. Building Interest • High level product/service details • Connect pain with value • Communicate ROI • Explain differentiation • Share client story • Paint a picture of the future state • Discuss impacts of doing nothing • Share company facts
- 28. Messaging Workflow Product Value Pain Qualify Building Interest Points 1. Have helped our clients to decrease inventory cost by between 20 to 30% in first 12 months 2. Purchased paid for itself within 18 months Interest Your Value 1. Decreases time spent ordering 2. Increases ordering accuracy 3. Decreases time gathering information
- 30. Establishing Credibility • Name Dropping • Storytelling • Lack of Availability • Lack of Neediness • Picture of Consensus
- 31. Messaging Workflow Product Value Pain Qualify Name Drop 1. We provide d inventory management software to Johnson Materials. 2. This helped them to reduce time spent ordering by 50%. 3. That lead to s reduction of warehouse managers and a decrease of labor cost of 17%. Interest Credibility Your Value 1. Decreases time spent ordering 2. Increases ordering accuracy 3. Decreases time gathering information
- 33. What are Objections • I am busy right now. • Who are you with? • What is this in regards to? • I am not interested. • Just send me some information. • We already use somebody. • We are not looking to make a change right now. • We do not have budget/money to spend.
- 34. Building an Objections Map • Tool to build to use as a guide for dealing with objections • List out anticipated objections • Formulate best responses • Can include redirects and overcome responses
- 35. Messaging Workflow Product Value Pain Qualify Objections Objection Responses 1. How concerned are you about the time it takes to produce orders? 2. Spending too much time ordering 3. Decreases time spent ordering 4. Decrease inventory cost by 20 to 30% 5. We helped Johnson Materials… The Value You Offer The Pain You Resolve The Questions You Should Ask Your Building Interest Points Your Name Drop Statement Interest Credibility
- 36. SalesScripter What do you sell? ___________ How does it help? ___________ What problems do you fix? ___________ What questions should you ask? ___________
- 37. SalesScripter
- 38. SalesScripter
- 39. If You Want More Help • https://www.youtube.com/user/LaunchPadSol • Or search Sales Scripter • Over 130 videos • Sales Prospecting 101 Training Program • Webinars • Sales Tips • SalesScripter demo videos • Subscribe Step 1 – Go to our YouTube Channel
- 40. If You Want More Help • Five ebooks – Found at https://salesscripter.com/ebooks/ – Do’s and Don’ts of Cold Calling – How to Get around Cold Call Objections – How to Build a Value Proposition that Generates Leads – How to Build Sales Campaigns that Sell – How to Build Email Drip Campaigns that Convert Sales • The Cold Calling Equation – PROBLEM SOLVED – Found at http://www.amazon.com/The-Cold- Calling-Equation-Problem/dp/1468173545 Step 2 – Get One of Our Books
- 41. If You Want More Help • Free 30 day trial – Found at https://salesscripter.com/members/signup • Scripter Walk-Through – 2 hour coaching session – We answer all of the questions with you – Included with an annual subscription Step 3 – Sign up for SalesScripter Trial
- 42. If You Want More Help • One-on-one Sales Coaching • Sales Consulting – Script development – Strategy development – Sales process development • Sales Training – Custom sales training programs – Content aligned with your information in SalesScripter – Delivered virtually or in-person Step 4 – Contact us for Coaching, Consulting, or Training
- 43. Questions? David Droogleever Co-Founder and CSO Pipeline Nitro david@pipelinenitro.com www.pipelinenitro.com Michael Halper Founder and CEO SalesScripter mhalper@salesscripter.com www.salesscripter.com
Hinweis der Redaktion
- Before we go any further, let’s clearly discuss what value is specifically in the context that we are using it as it can mean different things to different people. When we talk about value, we are referring to the transfer of something from one party to another that has a positive net worth. Now, the important thing to get your hands around with this is that value is an intangible attribute. It is not something you can see or pick up, yet it is definitely there, has a positive net worth. And actually the transfer between parties can be visible when you are aware of the value that exists and you know what to look for, and that is what we will teach you hear today. Let me provide a little more color around that by sharing a few examples. First, it is important to note that value is something that is transferred everyday at a personal level between family and friends. For example, when you bring humor to a group or conversation and make someone laugh, you are providing value as you are improving the conversation from what it would be without that. Or by teaching someone something, being a good listener, providing security, or making someone’s life easier are all examples of providing value at a personal level. You are essentially giving something or contributing something to another person. Once we understand how we offer value at a personal level, we can better understand how we deliver value at a business level. Just as we can improve the lives and interactions with friends, we can do this for our clients as well by helping them to save money, helping them to make more money, by providing valuable information, or again making someone’s day easier. These are all examples of the value that we can transfer from us to our prospects and clients. One important thing to start to get your hands around is that value is not the same thing as the product that you provide. It is what your product helps your clients to do or helps them to achieve.
- The value that we deliver can typically impact our clients on three different levels. At the lowest level, we offer technical value. These are the benefits and improvements that we can deliver that make things work better and are realized in the areas of processes, systems, and people. Examples are helping a business to save time, automate certain tasks, improve performance, improve reliability, etc. As a business begins to realize value at the technical level, those benefits will trickle up and be realized at the business level and be seen as a decrease in costs, increase in revenue, or decrease in risk. For example, if manual processes are able to be automated, that will lead to a decrease in the labor that is needed and as a result, there could be a decrease labor costs and this is an example of realizing business value. When we help clients to realize business value, that can also continue to trickle up to impact the clients on a personal level and be realized in the form of recognition, compensation, decreased work load, etc. For example, if processes are automated and that decreases costs, that could lead to a promotion for the person that is responsible for that area. Or they could get an extra bonus for the year. Or maybe it means that they no longer have to work over the weekend and are able to spend more time with their family and this is realizing personal value. So when your clients consume your products and services, they are likely going to realize some sort of value and benefits in these three areas.
- As you can see, it can be easy to go down the wrong path when trying to write a good value statement. To help with that, here is a four step process that well you to build your value statement. It might not build the perfect statement for your situation, but it will at least get you going in the right direction. Step one is pretty easy and that is just to simply identify the main product or service that you are selling. Or we might want to get a little more granular and list out the actual features of the product that you sell. But for this example, we will just stay at the product level. For an example, we are currently selling inventory management software.
- The next step in the process is to identify the technical benefits that are provided by the product that you have listed out in step one. If we sell inventory management software, how does that help from a technical standpoint? If the software helps our clients to order more accurately and may be go through the ordering process quicker, than we could say that we help our clients to improve their ability to effectively manage their inventory levels. This is at the technical level because we are talking about processes and not getting into dollars just yet.
- Step three is to identify the business benefits that result from the technical benefits that are delivered. When we help to clients to improve their ability to effectively manage their inventory levels, what does that lead to? If there is less inventory sitting around, then help our customers to decreased the cost of goods sold. We also automate more and make things easier and this can help to decrease administrative time.
- Step three is to identify the business benefits that result from the technical benefits that are delivered. When we help to clients to improve their ability to effectively manage their inventory levels, what does that lead to? If there is less inventory sitting around, then help our customers to decreased the cost of goods sold. We also automate more and make things easier and this can help to decrease administrative time.
- We have a short but sweet sentence that states either the technical or business value that you offer by just saying “We help businesses to” and then insert either the technical or the business value. Continuing with the same example, “We help businesses to improve their ability to effectively manage their inventory levels.” for a short but sweet technical value statement. Or, “We help businesses to decrease cost of goods sold and administrative time.” For using the business value. When you are on a cold call, sometimes you have to be quick and to the point, and this short value statement sometimes is what fits best.
- The next template is one where we connect the technical and business value together in the same sentence. For example we could say, “We help businesses to improve their ability to effectively manage their inventory levels and this often leads to a decrease in cost of goods sold as well as administrative time.” We basically share the technical value and the describe what that can lead to in terms of business results. Or we can use that same flow but flip it around to say “We help businesses to decrease in cost of goods sold as well as administrative time and do this by improving their ability to effectively manage their inventory levels.”
- The next template is one where we connect the technical and business value together in the same sentence. For example we could say, “We help businesses to improve their ability to effectively manage their inventory levels and this often leads to a decrease in cost of goods sold as well as administrative time.” We basically share the technical value and the describe what that can lead to in terms of business results. Or we can use that same flow but flip it around to say “We help businesses to decrease in cost of goods sold as well as administrative time and do this by improving their ability to effectively manage their inventory levels.”
- One thing you may notice in the previous two templates is that there is no mention of the actual product that we sell. There can be some benefit to leaving product info out of the value statement as it can help to build curiosity and try to avoid triggering the prospect’s guardedness. But in some cases it may make sense to be a little more clear as to what you are talking about from a product standpoint, and there are many sales people out there that feel more comfortable with product info being in there, so here is a template that accomplishes that. Basically, this one connect the product with the value. We provide inventory management software and this helps businesses to improve their ability to effectively manage inventory levels. We provide inventory management software and this helps businesses to decrease their cost of goods sold and decrease administrative time..
- Let’s discuss just what pain is in the context that we use it in. Pain is something that is not working well or could be working better for a prospect and this is causing a negative impact. We will get into much more detail and go into examples and we just want to introduce the concept at this point. But at the highest level, one question that can be asked to determine if there is pain is “are things great, good, OK, or could be better?” If things are either great or good, there might not be any pain, or at least not very much. And if things are OK or could be better, there likely is some sort of pain that the prospect is experiencing.
- Now let’s dig a little deeper into what pain can look like. There are actually three levels of pain. At the lowest level, you have technical pain. This is when things are technically not working well or could be better, and can be often found at the areas of systems, processes, or people. When pain is experienced at the technical level, that will usually trickle up and cause pain at the business level. This is where a prospect begins to feel negative impacts in the areas of revenue, costs, and the delivery of services. The pain does not stop their as it can continue on work its way up to impact your prospects at a personal level. This is when the technical and business pain starts to impact the individuals in areas like workload, compensation, job security, career growth, and even spill over into their personal life as well.
- Qualifying at its most basic level is assessing the prospect in two areas. First, to qualify a prospect begins with determining how well they fit with what you have to offer. This fit refers to how well they match up from a need standpoint or if they can even use what you provide. Qualifying does not stop there as we also need to determine how likely they are to actually make the purchase. They could be a perfect fit, but that does not mean that they are well positioned to do anything. We will teach you exactly how to measure prospects in these two areas, but basically we want to figure out how strong or weak the prospect is in these two areas and the act of trying to figure that out is essentially qualifying. Qualifying can be performed in two ways. Most of your qualifying will be performed by asking good questions while talking to prospects. Although, you can also perform some qualifying by doing some research online. This training focuses on how to qualify when interacting with prospects.
- Hopefully by now you can see how important it is to screen and qualify prospects. Now let’s get into how to effectively do that. We provide you with a 2 step qualifying process. Step 1 is called soft qualifying and it is focused on primarily determining whether it makes sense to meet and keep talking. The main thing that we look at here is, at the most basic level, are there any level of open needs in the area where we have something to offer. We are trying to eliminate those No Need to Purchase prospects as if there is not even a need, let’s not waste each other time. This soft qualifying takes place in the first conversations with the prospect. For example, this level of qualifying takes place on the cold call, or could also be on an inbound call from a prospect, and we softly qualify to identify if it makes sense to continue talking or put a meeting on the calendar. Step 2 is hard qualifying and this is where you dig deeper to identify how the prospect measures up in of the four key areas. The ideal time and place for this is when you are in the first meeting with the prospect.
- There are four characteristics of a qualified prospect. Does the prospect have a true need to purchase what you sell? You may have a prospect that is very interested and excited about what you have to offer, but do they need what you have or do they want what you have? The more they need what you have, the more qualified the prospect. Does the prospect have the authority to make the purchase from a decision making power stand point? If we are a car sales person and taking someone on a test drive, but it is the spouse that is at home that would make the approval of the car purchase, we are not spending time with a qualified prospect. Does the prospect have the ability to make the purchase from a funding or money standpoint? If the prospect loves what you have but does not have any money to spend, the prospect is not completely qualified. Does the prospect have real genuine interest purchasing from you? Just because a prospect is talking with you does not mean that there is serious interest on their side. The prospect really needs medium to strong levels in all of these areas to be truly qualified. A prospect only needs to be weak in one area for their to be a concern and we will look at four different types of prospects that are good in only three of the four key areas as we look at four types of unqualified prospects.
- When a gatekeeper answers your call, he or she is instantly trying to screen you out and determine if you are a friend or a foe. A friend would be someone who is already connected with the company in someway like a current vendor or business partner and a foe would be someone who is an outsider trying to get in, like one of those cold callers that is calling to try to get in and sell something. What we want to do is try to get the gatekeeper to see us as a friend so they will less likely to screen us out and one very easy way to do that is to use a tactic of name dropping. For example, we can say something like, I spoke with Tom White in accounting and now I am trying to reach someone in HR. This presents the image that we are already engaged and not a complete outsider and this minor tweak can often be the difference in the gatekeeper letting you in. And if we have not met with Tom White in accounting, we could still name drop his name by saying something like, I am planning on meeting with Tom White in accounting and before I do that, I would like with someone in HR.” Nothing misleading there as we likely are planning on meeting with Tom at some point and by sharing his name and our plans, we give off the image as we are not a complete outsider. We can also name drop external clients that we work with to establish some level of credibility. That is not going to be as strong as sharing internal names and is probably only going to really help when talking with more senior gatekeepers like executive assistants.
- Before we go any further, let’s clearly discuss what objections are. Objections are a prospect’s best weapon when they answer your cold call. They are statements or questions that the prospect will throw at you and they are like mini stops signs that the prospect will hold up. They use to try to take a control of the call and take it in a direction of their choosing. And if they begin to feel like you are selling something when they are not looking to buy, they will want try to end the call and will use objections to get there as soon as possible. Now let’s take a look at common objections and ones that you are just about guaranteed to run up against. I am busy right now. Who are you with? What is this in regards to? I am not interested. Just send me some information. We already use somebody. We are not looking to make a change right now. We do not have any budge to spend. Those are eight objections that consistently come up. You could maybe tweak those for your situation, and add a couple that are specific to your products, you would have a complete list of objections to be prepared for. As part of this training, we will explain these one at a time and show you how to get around them.
- Now that we know what objections to expect, what are our options when the come up? Well, we have basically three primary options. We can comply with the objection, we can try to overcome the objection, or we can redirect the objection. Let’s go through each option in a little more detail.
- The third objection handling option that we have and that is to redirect the objection to new, but related area. For example, if the prospect says “I am not interested.” Redirecting the objection could be to say “I understand. Do you mind if I ask what you are doing today in this area?” In that response, we are not directly focusing on and responding to the prospect’s point that they are not interested. And we are also not completely changing the subject and ignoring the objection. What we are doing is redirecting or deflecting by asking a question that keeps the conversation going into a new, yet still related area. In this example, the prospect may answer with what they are doing and then we can follow that with additional questions and we may end up getting far away from their original comment of not being interested. And the great thing about this, not only does this stand to keep the conversation going, but it also creates a scenario where you might obtain valuable information. Think about how valuable that is when executed properly, you go from a point where the call is about to end to one where the prospect is sharing information that you can use to begin to build your business case. When thinking about how to respond to objections, there is one thing that we never want to lose sight of and that is that our primary goal for the cold call is to progress to some sort of formal discussion like a meeting, appointment, demo, or event likely on another day. And with that being the case, we don’t want to spend time defusing objections. Instead, we want to focus on keeping calls going, and by redirecting to get around objections, we can improve our ability to keep calls going and get more meetings scheduled. The tactics to use to redirect are basically redirecting by asking certain questions. These can vary depending on your situation, but if you follow along with our other training modules and use our call script methodology, then you likely have qualifying questions, a value statement, common pain points, and building interest points, and these are all good areas to redirect toward.
- Now that we have outlined some of the objections that we are likely to face and we have talked about some ways to respond, we can now build a tool called an objections map. This is basically a document that lists out your anticipated objections and then shows you the response for each that has the best chances of keeping the call going. The tool basically can then be used as a guide or a map that tells you what to do when on the phone. This tool can drastically improve your results and it is pretty easy to build, just list out your anticipated objections, then formulate the best responses. And we have spent a lot of time talking about redirecting, but your objections map could also include responses to overcome objections in case there are times to use that approach.