In last week's Windshield Wisdom we talked through before and during meeting strategies you can employ to help ensure your great prospects stay responsive, and continue to move forward through your pipeline.
Based on the feedback you guys have shared, you agree that, in this case, the best offense is a good defense. Click here to go back and start at part 1, The Great Disappearing Act of 2018.
So, what happens when, despite all your planning, great value driven advice, and mutual commitments based on their timing (not yours) doesn't work and they still disappear anyway? Listen, it's going to happen at some point, but a suddenly unresponsive prospect doesn't mean the deal is gone. When that happens, I employ one of these three tactics to bring the occasional ghost back into the light...and that's what this week's Windshield Wisdom is all about.
1. Sometimes, despite executing everything on your end perfectly, a...
It's happened to all of us.
You have a dream meeting. It's open and honest. The conversation flows naturally, and you learn things about your prospect that they openly admit they've never shared with a banker before.
In the end, both of you feel like you're better off for having met, and look forward to exploring working together more in the future.
So, you do what you normally do, a few weeks or months later you reach out to rekindle the awesome conversation you both enjoyed so much...and nothing happens.
You send emails. You make phone calls with messages referring to the previous conversation. You reach out on social media.
Nothing. Nada. It's like they've fallen off the face of the earth.
Before you do a panic "stop in" call, take a second to step back and think about why they might be spurning your advances, and what you can do differently to make sure it doesn't happen again...and that's what this week's...
"Good luck is when opportunity meets preparation, while bad luck is when lack of preparation meets reality." - Eliyahu Goldratt
I used to annoy the crap out of my team with that quote. It wasn't an accident.
Preparation is that important in determining you're level of sales success in your banking career.
My customers today get the same treatment. I ask them all the same 6 questions before we go out on joint calls.
The first three are...What do you know about the person we're meeting with? What would you like to learn? What are you hoping to accomplish with this meeting?
And the other three questions? That's what this week's video is all about.
1. Selling doesn't end simply because the prospect said yes. You need to keep reinforcing the idea they made the right choice in choosing you, and that's best done by confidently and completely communicating what comes next in...
I call it the "Ping-Pong Rule."
In ping-pong, we're facing an opponent on the other side of the table who's sole purpose is to hit the ball back to us in such a way that we can't hit it back to them. Our goal then, is to not only handle whatever they hit back at us with ease, but to return the ball in such a way that they're forced to hit easier shots back at us.
To put it in terms of our banking careers, whatever prospecting activities we undertake (or don't undertake) today, will come back at us tomorrow. It's up to us to determine how hard it's going to be to hit the ball back again...and that's what this week's Windshield Wisdom is all about.
1. Successful bankers avoid the stress of boom or bust prospecting routines that plague their less successful competitors. They understand that every day they need to be putting themselves out...
This ticks me off every time someone says it to me...which, unfortunately, is often.
"I will never be a [fill in the blank with desired career move] because I'm an introvert." -Anonymous Banker
Hearing this makes me especially angry when they get it from their back slapping, never listening, former frat boy boss who has never really been successful themselves, but somehow managed to get promoted to their level of incompetence.
You see, I am an introvert. Yet, I was still magically able to navigate an award winning banking career, and turn that success into my own business teaching sales to other bankers.
It's time to squash the "good sales people are extroverts" myth once and for all...and that's what this week's Windshield Wisdom is all about.
1. You don't have to be an extrovert to be successful at sales in the banking world. In fact, my experience has shown that the BEST selling bankers...
I'm going to age myself a little bit here, but I feel it's necessary to make a point.
Once upon a time I had to...
...Look up information in something called an encyclopedia. Now I have access to almost all information ever created in my pocket on my iPhone.
...Flip the record or rewind the cassette tape. Now I don't even carry a CD case with my anymore, and I still have access to all the music I could ever want to listen to in my pocket.
...Go see a movie in the theater if I wanted to see it at all. Now my kids can't believe we have to wait two months for a new release to appear on iTunes.
...Write papers on a typewriter...and keep whiteout handy for when I made a mistake. Now I create, edit, and create again, then distribute it to a network of people, without using a single piece of paper.
...Navigate with something called a map, as well as figure out how long it would take to get somewhere...
As a toddler, my middle child would roll off the couch, cry, climb back up, and then roll off again to see if it hurt as much the second time. Eventually he learned that if he put a pillow on the floor it wouldn't hurt every time he rolled off...just on the occasions when he missed the pillow.
Which was more often that you would think.
Cold calling is kind of like my middle child...eventually even he figured out the pain wasn't worth the reward.
Fortunately, I found an easier, far more efficient way to reach prospects earlier in the buying process...and that's what this week's video is all about.
1. Making sure the right people are attending the same networking events you are can save you an incredible amount of time and energy connecting with prospects who matter.
2. Making calls to prospects, customers, as well as Centers of Influence, and inviting them to the event so you can "buy them a drink" is a great, low...
So my wife and I have a running joke for every time we drive past this place on the highway not far from where we live.
I ask her, "Hey honey, want me to pull over so you can get your free hug?"
She hasn't said "yes" yet, and once you take a look at the picture, you will probably guess why.
Apparently the offer I'm making isn't one that sounds good to her, and I can't blame her for that. Let's be honest, would you stop?
There's an art to making the right offer...to the right prospect...at the right time, and that's what this week's Windshield Wisdom video is all about.
1. In banking we do it all the time, but if you're offer doesn't solve their problem, it isn't an offer worth making. You can do lasting damage to your personal brand in the community if you screw the offer up in the first place.
2. Knowing why they have decided to solve their problem now...
Did you like my Wisdom? Please share it with someone who is frustrated because they’re losing deals they used to get and aren't sure why. – Matt
We're all immersed in some kind of sales process each day.
We have processes for our selling activities. We have processes for CRM and reporting to our managers. We have processes for bringing loans to committee. We may even have processes for taking advantage of the marketing department's messaging to our prospects and customers.
In that spirit, my goal for today's Windshield Wisdom is to share a guide to finding your own process to evaluate your sales interactions with customers and prospects. There is sales success to be found in figuring out what worked, and probably more importantly why it...
Did you like my wisdom? Please share it with someone who would welcome a clear, simple path to success. - Matt
You have goals.
If you're a business owner, they're usually related to revenue and profitability.
If you're a banker, they're usually production based (with a hint of portfolio quality hopefully thrown in).
If you don't have clear, actionable goals then we need to talk...but I digress...
You have goals, and for some of you those goals are challenging. Maybe even to the point you aren't sure where to start.
For most of us, we're looking for a way to ensure that what we're doing is leading us in the right direction without wasting a ton of precious time and energy.
Here's my point. In 20 years of leading sales teams, both in banking and business, I've found that most of us have a MAGIC NUMBER. That one trackable metric that predicts our future success almost completely.