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Last time we talked about research that was shared by Professional Selling Power magazine that declared that:
Number 1) Having a selling system that works can increase sales effectiveness and net results by as much as 30 percent.
2) Following a selling program or procedure can increase selling effectiveness and net results by as much as 20 percent.
And 3) Maintaining a positive mindset or attitude can influence your selling effectiveness and net results by as much as 50 percent!!!
We’ve already covered strategies to improve the mindset and systems. Now let’s focus on your selling program.
Let’s look at the sales process as a sales funnel. At the top of the funnel, you are going after the correct prospects. If you aren’t feeding the top of the funnel now, the funnel goes dry in a few months.
What procedure should you have in place at the top of the funnel? You need to have a targeted list of prospects with businesses and individuals who would be highly profitable for you.
To move those prospects down through the funnel, create a series of highly effective sales letters (following a sales letter template outlined in our Profit-Growth Banking sales system).
The best approach with these prospects is a two-step process. Get them to do something small to move them down to the next level of the funnel.
For example, when prospecting for new trust clients, send a series of sales letters that get them to take a small step like ordering a “tax savings” strategy booklet, signing up for a free estate planning seminar, or calling for a year-end checklist to make sure that they have maximized their tax savings.
Then, once they’ve moved further down the funnel, it’s time to recode them and move them to a higher level of contact. Again, continue to “give” to them instead of “selling.”
For example, send them a free book that will impact their world. They will be amazed to have received a gift of great value. And you can buy them in bulk for a substantial discount. They will be so honored to have received this personal gift, they will feel the uncontrollable urge to find out how they can do something nice for you.
Further down the sales funnel, you can begin to call on them and offer a “free” counseling session to see if they are making the best choices to save taxes and maximize returns while lowering their risk.
After having gone through these stages, the chances of recruiting them to your camp and stealing them from the competition is higher.
Now, and only now, should you consider starting the sales process—and again, this should not feel like sales. It’s not about you, your stuff, how long you’ve been in business or how nice your people are.
The reason it doesn’t feel like sales is it is your job to find out how to add extreme value to their world. You need to obsess about it—and be extremely good. This goes far beyond products and services. The new game of banking requires that you bring value where the return from every extra dollar they pay you is exceeded by at least 10 times.
Of course, your sales system has many components: how you hire your next best hunter, what are the critical drivers for your hunters compared to your farmers, how and when do they pass the baton when working as a team, what are the 15 or so questions that you must answer to earn the “decision making ace” and how are those notes kept in your CRM.
The list goes on…a good sales system is thorough yet simple enough that everyone can do it. THAT is the magic—but a magic well worth the investment of your time.