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...
I love it when I get emails like this from my banking friends...
"I have been in contact with the practice manager at the dental clinic – cool opportunity. I can guarantee you other community banks, Hell – big banks, are not doing this. This is a stepping stone for us – I know I can build out a platform to get in front of other practices, other companies and help with these topics. They want to compensate me – I will have them direct that to a non-profit so we help the community in the process as well. This is the part of the job I love!"
There's a great story behind this message, and an even better best practice that hardly any of your competitors are taking advantage of. I wish I had done this back in my banking days...and that's what this week's Windshield Wisdom is all about.
1. You have expertise, experiences, and stories that your best prospects would love to hear.
2. The trick is, some of...
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...
One of the first goals my first boss in banking set for me was to make 50 cold calls a day. His logic being, I didn't have an established portfolio, and the best way to find new customers is to reach out to your targeted leads, make cold calls, and schedule appointments to meet.
His favorite saying was, "Sales is a numbers game!"
What a load of crap. Give a banker 10 good leads they can work with, and they will close more deals than a banker with 100 cold call "prospects."
Fortunately for me (and in my opinion, to the benefit of the banking world. If anything because I was seriously considering quitting, which means that this whole Sales Math experiment would probably never have happened. Hopefully that thought makes you as sad as it does me.), he was forced out of the industry shortly thereafter, and my next boss allowed me to take an entirely different, and far more productive, approach...and that's what this week's video...
In case you're wondering how ideas like this happen...
I was in the middle of a mini vacation to our cabin in Northern Wisconsin last week, partaking in my favorite "Up-North" pastime of Musky Fishing with my 13 year old son, when I got a call from a customer who was in the middle of a vicious prospecting/follow-up loop that she couldn't seem to get out of.
As it turns out, my boat was the perfect place to create a piece of wisdom that allowed her to find a prospecting solution we all can use...and that's what this week's video is about.
1. It's not just enough to put yourself out there and network. The biggest fish are found at specific locations...the "spot-on-the-spot".
2. You will find customers by working through the same sales process every time, but the number of big fish you catch goes up when that process is aligned with what gets their attention on that specific day.
3. It's not enough to...
It's probably not the first thing you're thinking about when getting ready for your next meeting. It's certainly not the "sexiest" skill to learn.
I don't blame you if more of your prep time is spent planning better questions, or mapping possible outcomes.
So, what happens when your preparation includes matching the location for your meeting with the goals you're trying to accomplish when you're there?
It makes your job a whole lot easier...and that's what this week's video is all about.
1. Most of us look to 4 main options when scheduling a meeting...your office, their office, coffee, or lunch.
2. Which each of those are completely legitimate and viable options, it's important to know the pro's and con's of each.
3. By understanding which option to use for different people, at different points in the relationship, we're better able to match the venue with our goals for that specific, scheduled time...
A lot of banking professionals I see put the cart before the horse when they're out looking for good prospects, but you know there are other triggers that have to come first...and that's what this week's Windshield Wisdom is all about.
1. All too often, when we're prospecting what we're really doing is looking for deals we can add to our pipeline.
2. Problem is, because we're coming into the prospect's buying cycle later, those deals are often a lot less likely to close. We're setting ourselves up to be at a competitive disadvantage...where rate, term, or factors beyond your expertise and value, are the most likely differentiating factors.
3. Successful bankers don't play that game if they have a choice. Instead, they look for prospects earlier in the buying cycle and create engagement which attracts customers to their personal brand.
Matt Middendorp is a nationally acclaimed speaker and sales coach with...
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...
I received a testimonial from Levi, a recent Cool Bankers Academy graduate, and while this paragraph is only one small part of it...the section below made me stop in my tracks.
"I’m not going to say that the course is comfortable, because it’s not. Mr. Middendorp likes to put his subjects on the spot and make them squirm. But as another classmate stated, it’s through the completion of these uncomfortable scenarios that we grow and succeed. It was amazing how many times I could track success and failures directly to the subject matter we had discussed only a week or two before."
I had two immediate thoughts spring to mind...
First, that may be one of the best compliments I've ever received, even if Levi didn't mean it to be.
Second, why is making my students uncomfortable during the Cool Bankers Academy Office Hours sessions an important step in preparing them for success in the real world?
Early in my banking days, nothing used to stress me out more than the ups and downs I went through with my pipeline.
I'm sure you know exactly what I mean. I would put in a lot of time finding deals, and fill up my pipeline through networking, contacting Centers of Influence, reaching out to current customers, etc...
Then, once it was as full as I could handle, I would work REALLY hard to push the deals through the process so they would get closed on time...completely failing to continue "putting myself out there."
Until one day, I would look up, and my pipeline would be woefully thin again, so I repeated the entire cycle...repeatedly...repeatedly repeating...the same thing over and over...
It was infuriatingly maddening...and completely my fault.
Finally, after a lot of new grey hair, I said, "Enough!", and set out to find a system that would remove the stress, anxiety, and superhuman effort that was required to ride the pipeline roller...