Being judged by a prospect sucks.
Being judged by a prospect based on nothing more than a first impression sucks more.
Being judged by a prospect based on nothing more than a first impression, and they proceed to share their opinion with you, sucks most of all.
When I first put this Windshield Wisdom together, I just thought it was a good story with a good lesson for all of us to learn. Then last week the timing was right to bring it up with one of my Cool Bankers Academy classes (we were studying the types of buyers they will come across, and one of them is the Skeptic), and every single person on the Office Hours call had a story to tell, and what they did to overcome it.
Those stories the Cool Bankers shared led me to realize this topic is more important than I first thought. We all experience unfair first impressions that aren't related to our skills and abilities, serious and joking. It's how we respond in those...
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...
This was my home for the last 2 weeks...and it was fantastic!
For some of you, roughing it in a tent may not be your thing, but let me tell you what, I met some of the nicest people, and had some surprising conversations, while walking around the campground or when hiking on trails in the backcountry.
All of this got me thinking, why do we make networking so hard? After all, I had meaningful conversations with people from all over the world by following 3 simple rules of the trail...and that's what this week's video is all about.
1. When you're networking, take the pressure off by simply being interested in the stories and experiences of the person in front of you.
2. When in doubt, ask them questions about what they're sharing. It may be cliche, but most people really do like to talk about themselves if the questions are appropriate.
3. Your experiences can add a lot to the...
When you’re on the receiving end of a referral, you might feel
tempted to take some shortcuts and go for the deal as quickly as possible.
After all, you were recommended by someone they know, like, and trust.
But shortcuts rarely work in sales for us bankers, no matter where a prospect comes from. Getting a great referral is banking nirvana, and over the years I've discovered a few wrinkles in the buying process that makes converting them even more likely...or less risky...and that's what this week's video is all about.
1. Not all referrals are considered equal. The more involved the referral source gets, especially early in the process, the stronger the recommendation is perceived by the referral themselves.
2. Whatever you do, don't forget that even though you may feel like you're further along, the referral is still starting at step one of the buying process, and will move through the...
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...
Back in my early banking days I had an epiphany that came from a completely unexpected source, a fairy tale I was reading to my then-infant son...I realized that night as I was reading the story, that I was trying to force customers into my ideas about WHEN they should engage with me...like the fairy tale says...my follow-up routines were "too hot".
The good news is, once I figured out how "just right" worked, my entire banking career trajectory changed. I had confidence in the timing and message behind my follow-up routines...and that's what this week's video is all about.
1. The 2 biggest keys to sales success in your banking career are your ability to develop a plan for your prospect and customer relationships, and do what you say you're going to do for them.
2. Getting the timing of your follow-up right means your prospects and customers are more likely to be receptive to your outreach, respond positively to your message, and move...
I had the privilege of secretly watching one of your best prospects meet with you, then debrief him afterwords and gather his insights into the sales efforts of his "banking friends"...and it wasn't pretty.
You see my customer (your prospect) valued his "banking relationships", but that was only enough to get you in the door. To win his business, you need to be great in three other areas, and it was here that everyone fell short. .
Check out what your best prospect said it will take to win his business in this week's Windshield Wisdom.
Quick question for you...
Have you ever completely misread the status of a professional relationship you've been developing?
I don't mean you tried and failed to build one - I mean you thought there was mutual trust and a desire to work together which ultimately proved to be a one sided assumption (meaning it was just you).
(You can't see it, but I'm absolutely raising my hand. Like it or not, we've ALL done it.)
This week's Windshield Wisdom is about a single unifying idea that's behind some of the most profitable relationships I've built and seen built, and how you can get there faster.
You wouldn’t think developing short introductions would get me this excited…but that’s exactly what some of my students did today. This week’s video is about a clever little trick we came up with that instantly cured an important problem we bankers face (and how you can use it to get people's attention when networking).
Matt Middendorp is a nationally acclaimed speaker and sales coach with over 20 years of experience turning connections into customers and advocates. In 2013, Matt founded Sales Math, and debuted his “Formula for...
Did you like my wisdom? Please share it with someone who is struggling to have influence in their professional and personal relationships, and would like to learn a better way. -Matt
This 34th edition of Windshield Wisdom does something I've long wanted to do, combine banking with wine tasting and sprinkle in a lesson on being liked and having influence. At risk of sound overzealous, let me just say I had a lot of fun living the stories behind this Wisdom.
Unfortunately, it's also a theme that reared its ugly head often in my banking days.
Financial services is one of those industries where the actors often fall into one of two camps, "the Liked" and "the Respected". If you want to know which of the few bankers were able to conquer both ideas, all you had to do was look at the lines outside their offices, check their inboxes, or listen to their voicemail.
They were the ones who were in demand.