If you’re losing sales then it’s usually down to these very basic reasons (despite what sales gurus might tell you!):

1. You’re missing the mark on value.

If what you’re offering doesn’t solve a problem or make life easier for your customers, they’re not going to buy. It’s as simple as that.

2. You’re not really listening.

Ever been on the phone with a salesperson who just talks at you? Not fun. Listening to what the customer needs is the first step to making a sale.

3. You’re jumping the gun.

Nobody likes feeling rushed. Pushing for a sale before you’ve built any kind of relationship is a surefire way to turn people off.

4. You’re wasting time on dead ends

Not all leads are worth pursuing. Learn to spot the ones that are just going to waste your time.

5. You’re ignoring objections

Brushing off concerns instead of addressing them only makes the customer more hesitant. Take objections seriously and work through them.

6. You’re forgetting to follow up

Out of sight, out of mind. Don’t let prospects forget about you—follow up and stay on their radar.

7. You’re making things complicated

Keep it simple. A confusing sales process is a sure way to lose customers.

8. You’re pretending competitors don’t exist.

Know your enemy. No solution is so unique that it doesn’t have any competition. Ignoring the competition won’t make them go away—it’ll just leave you in the dust.

9. You’re blending in instead of standing out.

If you’re just another fish in the sea, why should anyone choose you? Find your unique selling point and shout it from the rooftops.

10. You’re skipping the relationship-building part.

People buy from people they like. Take the time to build relationships—it’ll pay off in the long run.

Losing sales feels awful but it’s not the end of the world. Learn from your mistakes, tweak your approach, and carefully rebuild your pipeline being mindful of the above.

Is there anything I’ve missed? What would you add?

#sales #selling #edtech #pipeline #relationships #closing #saleprocess #edtech

It’s a well-known good practice to do your research before you meet with a potential customer.  Spending some time understanding them so you can have a decent conversation with them when you meet goes a long way and shows you’re serious about them.  The question is: how much is too much?

When selling in education, I worked with a guy for several years who made a point of researching the schools we were due to meet with; he wanted to come across as a ‘trusted advisor’ as opposed to a salesperson.  However, he would take it far too far and spend the meeting quoting their school motto at them, discussing their school trips and questioning their exam results; they didn’t feel like he had done his research, they felt like they were being stalked!  It ended up having the opposite effect and the staff would become suspicious and back away – it rarely ended in a successful sale.

If you veer too far into the realm of over-research, you’ll likely give your potential clients the creeps rather than impressing them. Striking the right balance is the key to a successful client meeting. Here’s how you can do it:

1. Background Research: Start by gathering some basic background information about your potential customer. This might include their mission, vision and values, size, and any recent news or developments related to their school or trust.
2. Tailored Questions: Use your preliminary research to frame thoughtful questions. Focus on inquiries that demonstrate your genuine interest and understanding of their needs. For instance, instead of quoting their school motto, you can ask how they envision their future.
3. Active Listening: During your meeting, pay close attention to what your potential client says. Listen for pain points, challenges, and objectives. This is where you can showcase your expertise by aligning your solutions with their needs.
4. Engage in Two-Way Dialogue: Make the meeting a conversation, not a monologue. Share relevant insights from your sector and how your business can provide value. Encourage your potential customers to share their thoughts and expectations.
5. Respect Boundaries: Remember that your potential customers have their comfort zones and boundaries. Respect their personal space and the information they choose to share.

The key to successful customer meetings lies in a balanced approach to research. While thorough knowledge is valuable, your customers ultimately want you to be an expert in your own field, not theirs.

So, be curious, be prepared, but most importantly, be attentive and adapt to your customer’s unique needs. By doing so, you’ll forge more genuine connections and create a stronger foundation for successful sales relationships.

The So What? test is nothing new but I thought it would be worth covering here as it’s something I have discussed with a number of people this week.

If you’re unfamiliar with the So What? test then there are lots of great books out there on it but, in essence, it is the practice of looking at your messaging and asking yourself “so what?”  Are you talking about what matters most to your audience?  The idea is to help you focus on what’s important to your client base and communicate effectively as a result.

To give you an example, how many presentations have you seen that start with an introductory slide listing facts about the company?  A typical first slide will usually contain some company facts along the lines of:

While these facts are important to your company, the client’s response will probably be so what?  So you were established in 2012, so what?  Why is that important to me?

It’s crucial to always look through your messaging, and particularly opening slides such as these where this will often be your first contact with your potential client, and ask yourself so what?  And keep asking yourself so what until you get to a satisfactory answer.

So, for the example above, let’s do the So What? Test on the first bullet point

• Established in 2012

So what?  Well, it means we’ve been in business for a few years now.

So what?  So we’re not going anywhere, we’re established and have a good reputation.

So what?  Customers can trust us.

By asking so what you can usually find a better way of getting that message across.  In the case of the above, a much stronger opening bullet point would have been something along the lines of:

• Trusted provider since 2012 with an excellent service track record

Try it with the other bullet points and see what you come up with.  Try it with your own messaging and share the results.  I know this has helped lots of companies in the past so hopefully, it will help yours too.

I keep reading that Sales is something people get into ‘accidentally’.

Apparently people don’t set out to do it but before you know it you find yourself in a role where you get to earn some lovely commission . . . but have to make dreaded calls and meet a ‘too high’ target to get it.

Is that really true for everyone??

My first job after uni was a for a finance company in the underwriting department.  I was green as hell so knew nothing about business at all. Once I’d been there a few months I’d gotten a feel for what bits of a business does what . . . and I knew at that point I wanted to get into Sales.

Being the person who wins the new business to keep a company moving forward was, to me, the most interesting role by far.   And creating something out of nothing sounded amazing!

So I started at the beginning on a telesales desk and have worked in all sorts of ways with all sorts of clients.  It’s been brilliant all the way and there’s still loads more I want to do. I definitely chose to go into Sales.

What about you? I’d love to hear how my sales connections found themselves where they are.

It can’t all be accidental  😉

So here we are, almost at the end of the month and most people are desperately trying to close those last few orders to meet what are probably very challenging targets.  Time to bring out the discount – that will work, surely?!  Well, not necessarily.  Here are my 4 reasons why offering a discount to close is not always a good thing:

1. It devalues your product. If what you are selling was worth, say, £5,000 two weeks ago, why is it only worth £4,500 now?  While a discount designed to get the customer to order before the end of the week might just incentivise them to do so, it is also likely to leave a lasting impression that the product was priced too high in the first place which won’t help your long-term relationship and future sales.

Which brings us on to . . .

2. You risk ‘training’ your customers to expect a discount. If a discount is usually offered towards the end of any given month, term or year then the customers will learn to expect it and wait for it to happen.  We all know how we feel about certain large out-of-town furniture and carpet stores that advertise their sales an awful lot; we wait for the sale until we buy as we know there’s probably going to be one just around the corner.

3. It’s obvious but, by discounting to close, you are lowering your revenue and margins. To hit your overall business plan, how many more sales will you now need to make?  Would it be better to take a longer-term view and aim for a smaller amount of committed long-term customers who are willing to pay the true price of your product than a larger volume of customers who bought it because it was a bargain?  It’s a question only you can answer for your business but it’s worth considering.

4. You’re no longer in control of your sale. Most companies will spend a significant amount on sales (account management and new business development) in some way, shape or form.  Those people that you hire are there to add value to your business and, by offering a discount to close, you’re moving all the control over whether or not that potential customer will order onto your client – the decision is now theirs and there is little your salespeople can do to influence.  Unfortunately what this means for the business is that you’re really not getting the best value for money from the salespeople.

Instead of offering a discount, consider how you could add value to the sale.  Is there something you could offer that not only has a financial value attached to it that your potential customer would appreciate but also helps them get the best from the product they’re buying which will increase loyalty and long-term revenue?

Don’t get me wrong, used sporadically discounts can work and sometimes it can help you launch a product with early adopters or build a preferential relationship.  However, give it some thought before you do as it may be that the long-term pain isn’t worth the short-term gain.

I’ve been on the end of some pretty spectacularly bad sales experiences recently and the reasons they were bad is because they involved some or other of the below.  How many do you recognise?

1. Making you feel guilty

Depending on the type of product or service you sell, the sales process involves a journey to a client meeting and it can be a long one (it’s not unusual to drive 2-3 hours or more to have a face-to-face meeting).  Never harp on to your client about your journey though; it’s not their fault you’re not based locally to them and you’re just going to make them feel guilty.  Business don’t generally buy based on guilt.

2. Telling you everything they know about their product

Unfortunately you get this in IT and technology and lot; the salesperson wants to show you exactly how much they know about their product and they won’t be happy until they’ve demoed every single thing.  Two hours later everyone in the meeting is yawning (they switched off 1hr 45mins ago) and the salesperson has no more idea of what is important to their audience than when they first walked in – they haven’t asked and they certainly haven’t listened.

3. Telling you nothing at all about their product!

Conversely, you also get the situation where the salesperson doesn’t seem to be able to tell you anything about the product.  No-one expects the salesperson to have an in-depth, technical knowledge of the product and it’s fine to say “I don’t know the answer to that but I will put you in contact with one of our experts who will be able to help”.  However, they should have a basic knowledge of what it will do for you and how it will help.  (N.B. the salesperson who just agrees and says that the product will do absolutely everything the client wants is no good either – that’s usually called mis-selling!).

4. Making assumptions

You can get great, experienced sales people who know their market, know their product, know the likely objections that will come up and know how to respond to them.  The problem here though is that all this knowledge often stops them asking the questions they once would, assuming they know the answer.  And if you don’t ask questions you’ll never really understand what your clients want so stand a much smaller chance of being able to come up with a value proposition which meets their needs.  Always ask questions.

5. Hassling

This doesn’t take much explanation but it still happens all the time, everywhere you go.  Have you ever bought anything because you were hassled into it?  Thought not.  By all means follow up the meeting, send your clients everything you said you were going to and keep you promises.  But don’t cross the line into hassling, they’ll just stop answering their phone.

What a great 2019!!

I’m now 13 months into working for myself and running my own business and it’s great. Not only do I get to work with all sorts of inspiring people around the world, I also get to wear many hats and that variety makes me love my work.

Our Finnemore Consulting business focuses on helping business grow in the education sector. Sarah and I work with Exec teams on product strategy, biz dev, sales, product marketing, channel partnering, acquisition and client management. I’ve worked directly with foreign governments and we also get to work with educators, MATs and Support Teams directly who we’ve known for years – a definite bonus!

In addition, we’re proud to be part of the CJK Associates team. We support their work with investors and trade-buyers to help them find acquisitions, and with owners of small education companies who are looking to sell. With so much market movement going on in the Edtech sector it’s an exciting area of work.

In amongst all this I work with the excellent Tarigo in delivering Product Management and Leadership training across all sectors. It’s my area of expertise and it’s great to use this knowledge with new companies, from grads to experienced product leaders.

2020 looks like an exciting year ahead and I look forward to wearing more hats as the year goes on. If anyone’s going to #BettLondon or #BettAsia and would like to catch up, drop us a line.

“When are you going to stop for breath?”

One of the most embarrassing but defining moments of my work life.

I was rubbish at selling – despite being at least 4 years into my career as a salesperson. I was at a meeting with two ladies showing them our product (just as I’d been taught in training), telling them all the benefits (just as my manager had said) and generally following the script.

When they asked me at the end when I was going to stop for breath I realised I was doing it all wrong.

I didn’t know what they wanted or what was important to them. I hadn’t listened to that at all.

They didn’t go on to buy. But I learnt the art of shutting the hell up.

Selling is easy, you’re just doing it wrong.

Well, perhaps that’s not entirely the case, but there are definitely a few painful truths you need to get your head around when it comes to selling. If you’re ignoring these, you’re doing it wrong.

Painful truth #1: When your customer tells you their reason for not buying, it’s not a good idea to believe it.

It’s up to you to find out the REAL reason and address it — don’t expect people to lay themselves bare

Painful truth #2: Nothing is “too expensive”.

It’s more likely your potential customer doesn’t see your thing as having the value you think it does. You need to work on your value proposition.

Painful truth #3: “I’ll think about it” means ‘No’. As does “Send me a proposal”.

You need to get to the reasons behind the decision process to be able to influence that sale. Walking away with a promise of either of the above puts it out of your hands completely.

There are tons and tons more, these are the just the ones I’ve discussed this week with colleagues and clients.

Would be interested in your views too selling peeps 🙂

As a consultant I spend a lot of time working with people and companies who know their product.  Most of the time they’ll know their market pretty well too – often having come from a teaching, education or tech background.  What they don’t know is how to brand, market and sell which is totally understandable (and also the reason they’re speaking to me!).

When your background isn’t in the biz dev side of things, the idea of putting yourself out there and selling is scary.  Here are my top 3 people I would recommend anyone follow to get an idea for how to grow your business.  They’re a great introduction into the world of sales and marketing and you’ll hopefully see it’s not that scary after all  😊

1.  Andrew and Pete

If having an amazing online and social media presence sounds terrifying then these guys are a great place to start.  Their videos are awesome!  http://www.andrewandpete.com/

2.  Ian Brodie

Ian’s advice on winning clients is practical and doable – none of your cheesy, chest-thumping, sales pitch stuff (I’ve just signed up to his 30-minute marketing plan checklist for my summer holiday reading)  https://www.ianbrodie.com/

3. Janet Murray

If you feel like PR is something only other people can do then you must take a look at Janet’s stuff.  There’s a lot of great info on how to get yourself featured all over the place without needing to be personal friends with journalists.  https://www.janetmurray.co.uk/