Monday, June 02, 2008
Confessions of a Serial Salesperson
When the Judge was presented with the business development evidence, Taylor Success confessed and was clearly identified as the responsible individual for sales growth. Taylor Success was easily tracked down when we followed the trail of consistent sales contacts. It was clear that Taylor Success was following a sales action plan and responsible for the highest serial sales in history.
The Pattern of Serial Selling
When we asked satisfied clients about their experience with Taylor Success, the alleged sales person, they identified the solution selling path of success as the primary reason for doing business. Many of the clients were actively pursued even when they weren’t ready to purchase. This evidence substantiated the long term sales plan Taylor Success executed over months of contacts with potential clients.
Top of Mind Sales Strategy
The best practices of this serial seller maintained top of mind awareness in the psyche of potential clients. This sales drip system was balanced and consistent making it easy for potential clients to remember Taylor Success. When the time came for clients to purchase, they felt compelled to purchase from this serial salesperson.
Based on the fictitious scenario presented here, would you be convicted in a court of sales as a serial salesperson? A serial salesperson has these key traits. • Follows a consistent, documented sales plan. • Has a written sales process to capture sales. • Uses a sales follow-up system that keeps track of client opportunities. • Evidence of sales activity is documented and traceable.
Steve Martinez is the leading authority on automating and systematizing the selling process for the Printing Industry. His company, Selling Magic, LLC teaches business how to simplify, balance and automate the complex selling process. http://www.sellingmagic.com
Article Source: http://EzineArticles.com/?expert=Steve_Martinez
The Pattern of Serial Selling
When we asked satisfied clients about their experience with Taylor Success, the alleged sales person, they identified the solution selling path of success as the primary reason for doing business. Many of the clients were actively pursued even when they weren’t ready to purchase. This evidence substantiated the long term sales plan Taylor Success executed over months of contacts with potential clients.
Top of Mind Sales Strategy
The best practices of this serial seller maintained top of mind awareness in the psyche of potential clients. This sales drip system was balanced and consistent making it easy for potential clients to remember Taylor Success. When the time came for clients to purchase, they felt compelled to purchase from this serial salesperson.
Based on the fictitious scenario presented here, would you be convicted in a court of sales as a serial salesperson? A serial salesperson has these key traits. • Follows a consistent, documented sales plan. • Has a written sales process to capture sales. • Uses a sales follow-up system that keeps track of client opportunities. • Evidence of sales activity is documented and traceable.
Steve Martinez is the leading authority on automating and systematizing the selling process for the Printing Industry. His company, Selling Magic, LLC teaches business how to simplify, balance and automate the complex selling process. http://www.sellingmagic.com
Article Source: http://EzineArticles.com/?expert=Steve_Martinez
Friday, May 30, 2008
Telephone Sales Made Simple
Most sales managers and seasoned sales executives know that telephone sales and cold calling are among the best strategies for improving the sales in a company's sales department. But, not all salespeople enjoy doing telephone sales and many are not very good at. Is there a way to make telephone sales simple? Well, there are professional telephone sales strategists and consultants who can make it seem simple, but in the end it is not as easy as it looks and takes a significant commitment to the process.
How do you find a really good telephone sales consultant or marketing guru that is worth their weight in gold? Well, the best way to find the perfect telephone sales strategist and consultant is to find a seasoned executive who specializes in customer service and telephone sales. With the proper customer service background such telephone sales executives and consultants are exactly what you are looking for.
They can make telephone sales seem simple. How do they do this? Well, first they come in and do a survey of how your current employees and your sales staff are doing with regard to telephone sales. Then, they make suggestions on what you can do to improve things and use simple training techniques to help the employees kick their bad telephone habits and develop new improved skills. That is how it works, but you may be surprised how difficult it is to do without these seasoned professionals on your team. Please consider this in 2006.
"Lance Winslow" - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/. Lance is a guest writer for Our Spokane Magazine in Spokane, Washington
Article Source: http://EzineArticles.com/?expert=Lance_Winslow
How do you find a really good telephone sales consultant or marketing guru that is worth their weight in gold? Well, the best way to find the perfect telephone sales strategist and consultant is to find a seasoned executive who specializes in customer service and telephone sales. With the proper customer service background such telephone sales executives and consultants are exactly what you are looking for.
They can make telephone sales seem simple. How do they do this? Well, first they come in and do a survey of how your current employees and your sales staff are doing with regard to telephone sales. Then, they make suggestions on what you can do to improve things and use simple training techniques to help the employees kick their bad telephone habits and develop new improved skills. That is how it works, but you may be surprised how difficult it is to do without these seasoned professionals on your team. Please consider this in 2006.
"Lance Winslow" - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/. Lance is a guest writer for Our Spokane Magazine in Spokane, Washington
Article Source: http://EzineArticles.com/?expert=Lance_Winslow
Thursday, May 29, 2008
Pipeline Management - Your Path To Achieving The Sales Edge!
Those sales teams who achieve the sales edge, do so with a clear understanding of their pipeline's health. Pipeline management allows a sales person and/or management to more accurately forecast their sales, better manage their time, and ultimately close more sales. We all want it...the full pipeline that is-a sales funnel with more opportunities at the top, converting to qualified leads, and feeding the closed sales at the bottom. With it we are sales stars.
And without it we are constantly riding the amusement park favorite-the ROLLERCOASTER. While the rollercoaster can be thrilling it can also be exhausting and is definitely ineffective as a long-term sales management strategy. We can only ride that rollercoaster so long before the "thrill" wears off. And, that's where pipeline MANAGEMENT fits in.
But, what is Pipeline Management really?
Pipeline Management is a process by which you continually evaluate your active opportunities (from prospects to booked customer) for their balance of QUANTITY and QUALITY.
QUANTITY: We're used to looking at our pipeline for quantity since this is usually where our sales forecasts come from. Unfortunately, we often do not look at the right things when evaluating quantity. We either value the quantity at face value (where all opportunities are valued at their full estimate regardless of where they are in the sales process and what our history is for closing deals we come across) or they are valued and factored against a "gut instinct" of probability (I'm 95% sure this will close). The problem with this method, however, is that some sales people are overly optimistic (mostly just wanting to BELIEVE they are in better shape than they really are) or are incorrectly tagging where the opportunity really is in the sales process. The first steps to accurately managing the quantity of your pipeline are 1) define your sales process contact types and milestones, 2) determine your conversion ratios for Prospect to Customer; Lead to Customer; and Proposal to Customer. These percentages will become the Pipeline Weighting factors by which you calculate your pipeline's WEIGHTED FORECAST. If you don't know your ratios, start with your close ratio. How many of the proposals/bids you provided last quarter booked as orders? Then work back from there. A starting place would be to go with a weighting ratio of 10% at PROSPECT stage; 30% at LEAD stage; and 50% at PROPOSE stage. Then, monitor your actual conversion ratios each month and tweak them as necessary.
QUALITY: Having the right volume in your pipeline is a key factor to success and understanding where you are weak, and will help you determine where exactly to spend your time. Measuring quality, though, is equally important. Too often when I help companies with pipeline management practices I find that the biggest problem in sales forecasting and time management is that the pipeline is cluttered with junk and sales people are wasting time with "follow-up" on prospects that are not playing ball. So, to ensure your pipeline is meeting your quality needs, evaluate every opportunity weekly against the criteria you set for each step in the sales process. If you find a contact is not moving to the next step in the process as it should, then trace back and reassess that you haven't missed something (contact not actually decision maker, other decision making criteria you were unaware of, etc.)
Sales people generally hate reporting. It's a waste of time in their mind and they'd rather be doing what they do best-selling. And, truly they aren't crazy about the accountability and visibility pipeline management reporting can give their management. So while pipeline reporting and review is ESSENTIAL, it is equally important to help sales teams understand how valuable this tool can be for forecasting their own income (assuming they make a commission) and saving their sanity by creating a tool to better focus where they spend their time.
Go-To-Market Strategies is a resource center for sales and marketing professionals and business leaders. Our tools, templates, and services help companies achieve big aspirations with limited budgets. More articles and resources available at http://www.gtms-inc.com
Article Source: http://EzineArticles.com/?expert=Shannon_Kavanaugh
And without it we are constantly riding the amusement park favorite-the ROLLERCOASTER. While the rollercoaster can be thrilling it can also be exhausting and is definitely ineffective as a long-term sales management strategy. We can only ride that rollercoaster so long before the "thrill" wears off. And, that's where pipeline MANAGEMENT fits in.
But, what is Pipeline Management really?
Pipeline Management is a process by which you continually evaluate your active opportunities (from prospects to booked customer) for their balance of QUANTITY and QUALITY.
QUANTITY: We're used to looking at our pipeline for quantity since this is usually where our sales forecasts come from. Unfortunately, we often do not look at the right things when evaluating quantity. We either value the quantity at face value (where all opportunities are valued at their full estimate regardless of where they are in the sales process and what our history is for closing deals we come across) or they are valued and factored against a "gut instinct" of probability (I'm 95% sure this will close). The problem with this method, however, is that some sales people are overly optimistic (mostly just wanting to BELIEVE they are in better shape than they really are) or are incorrectly tagging where the opportunity really is in the sales process. The first steps to accurately managing the quantity of your pipeline are 1) define your sales process contact types and milestones, 2) determine your conversion ratios for Prospect to Customer; Lead to Customer; and Proposal to Customer. These percentages will become the Pipeline Weighting factors by which you calculate your pipeline's WEIGHTED FORECAST. If you don't know your ratios, start with your close ratio. How many of the proposals/bids you provided last quarter booked as orders? Then work back from there. A starting place would be to go with a weighting ratio of 10% at PROSPECT stage; 30% at LEAD stage; and 50% at PROPOSE stage. Then, monitor your actual conversion ratios each month and tweak them as necessary.
QUALITY: Having the right volume in your pipeline is a key factor to success and understanding where you are weak, and will help you determine where exactly to spend your time. Measuring quality, though, is equally important. Too often when I help companies with pipeline management practices I find that the biggest problem in sales forecasting and time management is that the pipeline is cluttered with junk and sales people are wasting time with "follow-up" on prospects that are not playing ball. So, to ensure your pipeline is meeting your quality needs, evaluate every opportunity weekly against the criteria you set for each step in the sales process. If you find a contact is not moving to the next step in the process as it should, then trace back and reassess that you haven't missed something (contact not actually decision maker, other decision making criteria you were unaware of, etc.)
Sales people generally hate reporting. It's a waste of time in their mind and they'd rather be doing what they do best-selling. And, truly they aren't crazy about the accountability and visibility pipeline management reporting can give their management. So while pipeline reporting and review is ESSENTIAL, it is equally important to help sales teams understand how valuable this tool can be for forecasting their own income (assuming they make a commission) and saving their sanity by creating a tool to better focus where they spend their time.
Go-To-Market Strategies is a resource center for sales and marketing professionals and business leaders. Our tools, templates, and services help companies achieve big aspirations with limited budgets. More articles and resources available at http://www.gtms-inc.com
Article Source: http://EzineArticles.com/?expert=Shannon_Kavanaugh
Wednesday, May 28, 2008
Increasing Company Sales thru Selling
Do you want to increase company sales? Have you tried every marketing trick in the book and you still need more sales? Have you considered cutting your costs instead of increasing sales? Is there a growing gap in where you want your sales to be and where they actually are today?
Have you considered increasing your company sales thru selling more, as in hiring more sales people, developing a sales department and really going after the market? Well, you can increase your sales thru selling and it is indeed one of the fastest ways.
As you were building up your department or small business you did sales, made sales calls and closed some accounts. Would you like to have a team of sales people out there doing that same thing right now and increase sales in your company?
You can increase you company sales thru selling and in fact it is the easiest way, even if your marketing, advertising is not enough to satisfy your proposed goals. Many company managers and small business people cringe when thinking of setting up a sales force or set of teams out there selling.
Yet, “nothing happens until someone sells something” they say and if this quote is true then perhaps it is time you re-considered selling as a way to advance company sales. Think on this in 2006.
"Lance Winslow" - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/. Lance is a guest writer for Our Spokane Magazine in Spokane, Washington
Article Source: http://EzineArticles.com/?expert=Lance_Winslow
Have you considered increasing your company sales thru selling more, as in hiring more sales people, developing a sales department and really going after the market? Well, you can increase your sales thru selling and it is indeed one of the fastest ways.
As you were building up your department or small business you did sales, made sales calls and closed some accounts. Would you like to have a team of sales people out there doing that same thing right now and increase sales in your company?
You can increase you company sales thru selling and in fact it is the easiest way, even if your marketing, advertising is not enough to satisfy your proposed goals. Many company managers and small business people cringe when thinking of setting up a sales force or set of teams out there selling.
Yet, “nothing happens until someone sells something” they say and if this quote is true then perhaps it is time you re-considered selling as a way to advance company sales. Think on this in 2006.
"Lance Winslow" - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/. Lance is a guest writer for Our Spokane Magazine in Spokane, Washington
Article Source: http://EzineArticles.com/?expert=Lance_Winslow
Tuesday, May 27, 2008
Mortgage Loan Officer Training Manual - A Loan Office Essential
If you run a mortgage loan office, you'll know that it isn't always the easiest of tasks, but the rewards can be great.
From time to time, you have to hire new mortgage loan officers to replace staff that have left, or if you're expanding your business.
As you're reading this, you've realized that you need to have properly trained mortgage loan officers on your hands.
You've probably also realized It's not viable to get other members of your office to do the training as there's no guarantee that all aspects will get covered. It may even be a case of your current loan officers deliberately not training your new employee correctly in order to have a competitive advantage within the office.
So one of your key problems is training each loan officer to the same standards.
There are a couple of approaches you could take.
1) Hire a fully qualified mortgage loan officer as a full time member of your staff to handle all aspects of training. You could then be sure that every new loan officer meets the same standards in terms of loan officer training.
2) Put each new employee on a recognized mortgage loan officer training program that can be followed through step by step.
Following one of these two courses will benefit you, and will also benefit your mortgage loan officers. However, the first option may not be a viable option if your business doesn't warrant it. It can be expensive to hire a full time employee just for training purposes.
But whichever way you choose, before you begin hiring new loan officers, you will at some point have recognized the need to have a basic mortgage loan officer training manual. This will help each employee to know the fundamental information and requirements expected from them.
If you go for the second option, then a loan officer training course may either provide a standardized loan officer training manual that you can amend to your business needs, or there will be enough information provided that you will be able to quickly compile your own.
The standardized mortgage loan officer training manual provided with a mortgage loan officer training course may include sections like the following:
Credit Report Knowledge
Determining The Client's Credit Worthiness
Seamless Transactions
Income and Debt Guidelines
Flood and Hazard Insurance
And so on...
These are just some of the sections you must include in your standardized mortgage loan officer training manual. And if you decide to buy one off the shelf and modify it, or if you want it put together by your own full time trainer, it's important to both you and all of your mortgage loan officers that it's done correctly.
If you're a loan officer, a loan office manager, or working as a full time trainer, and you want more information on loan officer training, or to get help building your own training manual, then it's well worth your time taking a look here:-
http://www.loanofficertrainingprofessor.com
Article Source: http://EzineArticles.com/?expert=Tim_Rhodes
From time to time, you have to hire new mortgage loan officers to replace staff that have left, or if you're expanding your business.
As you're reading this, you've realized that you need to have properly trained mortgage loan officers on your hands.
You've probably also realized It's not viable to get other members of your office to do the training as there's no guarantee that all aspects will get covered. It may even be a case of your current loan officers deliberately not training your new employee correctly in order to have a competitive advantage within the office.
So one of your key problems is training each loan officer to the same standards.
There are a couple of approaches you could take.
1) Hire a fully qualified mortgage loan officer as a full time member of your staff to handle all aspects of training. You could then be sure that every new loan officer meets the same standards in terms of loan officer training.
2) Put each new employee on a recognized mortgage loan officer training program that can be followed through step by step.
Following one of these two courses will benefit you, and will also benefit your mortgage loan officers. However, the first option may not be a viable option if your business doesn't warrant it. It can be expensive to hire a full time employee just for training purposes.
But whichever way you choose, before you begin hiring new loan officers, you will at some point have recognized the need to have a basic mortgage loan officer training manual. This will help each employee to know the fundamental information and requirements expected from them.
If you go for the second option, then a loan officer training course may either provide a standardized loan officer training manual that you can amend to your business needs, or there will be enough information provided that you will be able to quickly compile your own.
The standardized mortgage loan officer training manual provided with a mortgage loan officer training course may include sections like the following:
Credit Report Knowledge
Determining The Client's Credit Worthiness
Seamless Transactions
Income and Debt Guidelines
Flood and Hazard Insurance
And so on...
These are just some of the sections you must include in your standardized mortgage loan officer training manual. And if you decide to buy one off the shelf and modify it, or if you want it put together by your own full time trainer, it's important to both you and all of your mortgage loan officers that it's done correctly.
If you're a loan officer, a loan office manager, or working as a full time trainer, and you want more information on loan officer training, or to get help building your own training manual, then it's well worth your time taking a look here:-
http://www.loanofficertrainingprofessor.com
Article Source: http://EzineArticles.com/?expert=Tim_Rhodes
Thursday, September 06, 2007
Poor Credit Mortgage Leads, To Avoid or Not To Avoid
These days with the mortgage industry being the way it is, mortgage brokers and loan officers may be finding it tougher and tougher to close deals for people with poor credit.
Although avoiding poor credit mortgage leads all together may not seem like such a bad idea these days for some loan officers, all may not be lost.
If you are willing to reconsider the purchasing of mortgage leads with poor credit, here are a few things to look for.
For starters, look for a mortgage lead company that allows for you to view your mortgage lead before you buy it.
Also, make sure the mortgage leads you buy are fresh mortgage leads. Avoid the recycled mortgage leads because the information will be dated and inaccurate.
Most mortgage lead companies have a comment section on their mortgage leads. The comment section allows for the consumer to get a little more specific so a loan officer such as yourself will have a better understanding of their needs.
By having the ability to view a mortgage lead in its entirety including a comment section, you will be able to get a good handle on the customer’s situation, what their needs are and wether or not you believe you have the resources to help them.
For instance, if the customer lists their credit score in the comment section of the mortgage lead, you will have a very clear idea of what you will be working with and if you have lenders available to go to should you buy the mortgage lead.
If the customer posts a comment such as "In foreclosure, the bank is coming tomorrow, need help fast," You will know that it is too late to help this person and to avoid buying the mortgage lead.
In short, viewing a mortgage lead with a comment section can give you the best indication as to wether or not you have the resources available to you to help the person.
As you already know, the LTV plays a huge role when it comes to a financial institutions decision as to wether or not they will fund the loan.
So look for the mortgage leads where the customer has a lot of equity in their home. This will help soften the blow when it comes to poor credit, or at least help their chances of being approved.
Another thing you can do is expand your resources, seek out the wholesale lenders who will still consider working with poor credit.
I realize finding these lenders will be tough, but the more tools you have to work with and the more lenders you have relationships with, the more deals you will close.
Although avoiding poor credit mortgage leads all together may not seem like such a bad idea these days for some loan officers, all may not be lost.
If you are willing to reconsider the purchasing of mortgage leads with poor credit, here are a few things to look for.
For starters, look for a mortgage lead company that allows for you to view your mortgage lead before you buy it.
Also, make sure the mortgage leads you buy are fresh mortgage leads. Avoid the recycled mortgage leads because the information will be dated and inaccurate.
Most mortgage lead companies have a comment section on their mortgage leads. The comment section allows for the consumer to get a little more specific so a loan officer such as yourself will have a better understanding of their needs.
By having the ability to view a mortgage lead in its entirety including a comment section, you will be able to get a good handle on the customer’s situation, what their needs are and wether or not you believe you have the resources to help them.
For instance, if the customer lists their credit score in the comment section of the mortgage lead, you will have a very clear idea of what you will be working with and if you have lenders available to go to should you buy the mortgage lead.
If the customer posts a comment such as "In foreclosure, the bank is coming tomorrow, need help fast," You will know that it is too late to help this person and to avoid buying the mortgage lead.
In short, viewing a mortgage lead with a comment section can give you the best indication as to wether or not you have the resources available to you to help the person.
As you already know, the LTV plays a huge role when it comes to a financial institutions decision as to wether or not they will fund the loan.
So look for the mortgage leads where the customer has a lot of equity in their home. This will help soften the blow when it comes to poor credit, or at least help their chances of being approved.
Another thing you can do is expand your resources, seek out the wholesale lenders who will still consider working with poor credit.
I realize finding these lenders will be tough, but the more tools you have to work with and the more lenders you have relationships with, the more deals you will close.
Tuesday, September 04, 2007
Refinance Mortgage Leads
If you are a mortgage broker or loan officer looking to purchase mortgage leads, your best bet for a quick turn around time on a mortgage is with the refinance mortgage leads provided by mortgage lead companies.
This is not to say that you can’t have a quick turn around time with purchase mortgage leads, you can. But, as you well know, refinancing a customers mortgage can be done in a very short amount of time. Some as little as three weeks.
Here is something to consider when looking around for mortgage leads and mortgage lead companies.
Keep an eye out for the mortgage lead companies that sell their mortgage leads fresh or in real time.
It is pretty much pointless to purchase a refinance mortgage lead that is weeks or even days old.
Most likely the customer is already working with another loan officer or mortgage broker and is half way through the mortgage process.
Also, make sure you find out how the mortgage lead companies obtain their mortgage leads.
Look for the mortgage lead companies that obtain their mortgage leads through web sites they own and operate.
Otherwise, they are obtaining the mortgage leads from third party mortgage companies and recycling them.
The last thing you want or need is a mortgage lead that has gone through the hands of half a dozen or more loan officers and mortgage brokers.
Remember, you work very hard for your money, so be sure that when you invest with a mortgage lead company that you will be getting what you paid for and closing deals.
This is not to say that you can’t have a quick turn around time with purchase mortgage leads, you can. But, as you well know, refinancing a customers mortgage can be done in a very short amount of time. Some as little as three weeks.
Here is something to consider when looking around for mortgage leads and mortgage lead companies.
Keep an eye out for the mortgage lead companies that sell their mortgage leads fresh or in real time.
It is pretty much pointless to purchase a refinance mortgage lead that is weeks or even days old.
Most likely the customer is already working with another loan officer or mortgage broker and is half way through the mortgage process.
Also, make sure you find out how the mortgage lead companies obtain their mortgage leads.
Look for the mortgage lead companies that obtain their mortgage leads through web sites they own and operate.
Otherwise, they are obtaining the mortgage leads from third party mortgage companies and recycling them.
The last thing you want or need is a mortgage lead that has gone through the hands of half a dozen or more loan officers and mortgage brokers.
Remember, you work very hard for your money, so be sure that when you invest with a mortgage lead company that you will be getting what you paid for and closing deals.
