In this post, I will be sharing notes on The Ultimate Sales Machine by Chet Holmes. While published in 2008, it highlights key insights and sales relationship-building keenly missing in today’s environment.
In our drive to create funnels and enable automation, we often forget the normal progression of a sales cycle (awareness -> attention -> engagement -> conversion).
The book is organized around a framework developing both personal skills as well as those required to develop a systematized process for attracting, converting, and keeping life-long customers.
It is no surprise that Michael E. Gerber wrote the forward to this book the underlying thesis (Creation of Repeatable, Standardized Processes for Doing Business) is a common theme.
Note: You can check out my review of The E-Myth Revisited at this link.
For a copy of The Ultimate Sales Machine, you can use this Amazon link.
Chapter 1 - Time Management
In the first few chapters, Holmes highlights some personal productivity recommendations that serve as the foundation for implementing his sales organization development practices to come.
While not earth-shattering or ground-breaking, they are practical (and achievable) changes that we can all put into motion.
By starting with time management, he helps the reader find the time that they are going to later use to implement his advice.
According to Chet
- No one should have more than 6 direct reports.
- No “got-a-minute-” interruptions
Right from the start, he is targeting two of the biggest time sinks for leaders! Most leaders have too many people dependent upon them or they are too freely available for the continuous cycle of interrupts that consume a day.
Note:
This first chapter explains the over-stimulation and eventual burnout that Michael Gerber described from The E-Myth Revisited.
In place of the continual interrupt cycle, Holmes recommends a Weekly Impact Area status meeting. These would be meetings designated by functional areas within the organization facilitated by the leader of that group.
Individuals would save their “got-a-minute” question to this Weekly Impact Area status.
My Take:
I think Holmes differentiates actual important discussions and queries from “got-a-minute” questions. If the building is on fire or we stand to lose a major customer/deal without immediate response and action, these are NOT “got-a-minute” situations.
“Got-a-minute” situations are day-to-day decisions that come up in the normal course of business.
One strong training aspect for your direct reports is to work on developing THEIR capability to make those types of decisions. If a “got-a-minute” question can be addressed with the following email, you should be developing your people so that it can be!
Subject: Johnson Account (No Response Required)
David:
Mary Johnson at FrooHoo Electric called about the problem with their Whatchem. I arranged delivery of a replacement and told her to just give the defective one to the technician when he arrives. I told her we’re discounting her invoice to what we charge our wholesale customers and not charging her for the service call.
Service Tech Jerry is supposed to be there at 10:00 AM this morning.
When you are developing processes and people to be able to handle these types of situations on their own, your day becomes much freer to target the more strategic parts of your business!
Six Time Management Practices
- Touch it once – If you touch it, you have to take action on it! If you’re not going to take action, leave it.
- Make lists – Focus on your six (6) most important tasks
- Plan how much time to allocate to each task – Either how much time it will take to finish it or how long you will spend on it.
- Plan your day – Schedule your day based on your time estimates (leaving some buffer for reactive occurrences)
- Prioritize – Put most important item first and schedule from there
- Discard – Ask “Will it hurt to throw this away because 80% of filed or stored information is never used again!
Specific to emails – Make sure your emails have descriptive subject lines. Train your people to create good ones!
If the subject (or context) of the email changes, the subject line must change as well!
On Emails
Be sure that emails have descriptive subject lines. Train your people to create good ones!
When the subject (or context) of an email changes, the subject description must change as well. Few things waste more time than trying to follow a convoluted email thread forwarded back-and-forth with varying audiences.
Note:
If you still have problems, try SwamiDave’s 3 Email Rule:
If the issue has not been addressed/resoved in three emails, it needs to be handled in another manner (IM, phone call, meeting, etc.).
On Priorities
- Evaluate tasks based on difficulty and relative impact upon completion
- Start with the hardest/most-challenging and highest positive impact
- Progress down your list based on impact and difficulty
- For Enterpreneurs – 2.5 hours per day should be devoted to growing your company (or 30% of time if you work your business part-time)
- For Salespeople – 2.5 hours per day should be cold calling (if you are fully-loaded with clients)
- 4 hours per day if not fully-loaded
- All day if you are new
- Even people in reactive positions (customer service, receptionists, assistants, etc) should plan some time for proactive tasks focused on improving self, their job, and/or the company
Chapter 2 - Institute Higher Standards and Regular Training
Harvard Business Review suggests that 10% of people have a “learning mindset”. The other 90% will only learn or improve skills if their job requires it.
Editor’s Note:
This point is a grossly missing element in our hiring and interviewing practices!
If the language that you hear from your team is how they want to be trained (as opposed to what things they are learning), you have a problem to address!
Evaluating Your Team's Training
- Do all employees perform each aspect of their job with a high degree of excellence and consistency?
- Are results predictable because training and skills are consistent?
- Would each supervisor give similar answers to each problem or question?
- Would each employee give similar answers to each problem or question?
- Is client treatment the same no matter who the client deals within our company or department?
- Do all staff members know what is considered good performance and attitude?
We can all find areas to improve our training and development within those six questions.
Holmes is a huge proponent of continuing education and training. Repetition to the point that individuals understand and perform tasks by response is a key element of his development process.
He coached (and quizzed) his sales teams fanatically. He describes repeated “hot-seat” and live-practice sessions to ensure that all team members knew and followed their processes every time.
Types of Training
- Lecture format
- Group questions
- Group discussions
- Demonstrations
- Roleplaying
- Hot seats
- Case studies
- Test before & after
- Spot quiz
- Workshop
Holmes recommends companies have continuing education on the use of technology/software in their environment.
Chapter 3 - Executing Effective Meetings
Effective meetings require planning, procedures, and policies.
Much of Chapter 3 deals specifically with the execution of a particular type of meeting (Workshops) which were mentioned in Chapter 2 on Training.
For more generalized good practices for handling meetings (especially virtual meetings), check out my post on Effective Virtual Meetings.
The foundation for Workshops is the development of a company process document. As the organization identifies areas requiring improvement, Holmes recommends holding a company (or department) workshop where the team and their leadership identify the best solution and put it in place as a standard.
He bases the Workshop idea on the following:
What if you were hiring [X] people next week and wanted all of them to enter your business quickly being able to perform at peak levels? What kind of training program would you need to enable that?
He points out an example of a business that was hiring in excess of 50 people per week and onboarding them in a results-driven fashion. The company accomplished this growth with a solid Process Document that outlined roles, responsibilities, and procedures that each new team member was to follow defining for them success in their position.
Workshops start with all participants instructed to share three (3) things that would improve the company or department (focused on the target area around which the Workshop is scheduled).
Participants decide which suggestion would bring the greatest value and return. The session focuses its intent on improving in the selected area.
After completion, the notes of each workshop are published to what becomes their “Process Binder”. As time progresses, this Process Binder is continually built (and updated).
Steps To Execute A Workshop
- Appoint a Facilitator/Lead
- Write down the focus question (on a board or panel)
- Have participants separately answer question with ideas on their pad
- The leader solicits ideas fro participants and writes them on the board
- Prioritize – Vote on ideas that will work best
- Objective is General Consensus (“Fist-of-Five”, Weighted Rank (Top 1-2-3), etc.)
- The leader asks the group to share votes and ticks the board
- Implementation – Enact top options
Steps To Implement Changes
- Get everyone to feel pain
- Have to help everyone define, outline, and intensify the pain of NOT fixing the problem
- If you want people to change, show them why what they are doing is not working.
- Hold Workshop to generate solutions
- Develop a conceptual solution or procedure
- Each solution is a “concept” until proven!
- Leader or top talent performs task or procedure – as they should have an understanding of how things can and should be done.
- Test new procedures on top performers!
- Set deadline for testing concept
- This is a deadline for results to know if the concept should be adopted, changed, or replaced with another option.
- Document step-by-step process or procedure
- Be sure it is repeatable!
- Documentation includes scripts, actions, etc.
- It should document the results you expect to achieve
- Have a show-and-tell and roleplaying session
- Have participants follow the documented steps and roleplay the to build experience
- As the team becomes more proficient, have another workshop to further improve
- Monitor the procedure directly (monitor -> correct -> monitor)
- Measure and reward the outcome
Chapter 4 - Becoming A Brilliant Strategist
The author differentiates Tactics and Strategy in this manner.
- Tactic – Method or technique used to achieve an immediate or short-term gain
- Strategy – Carefully defined and detailed plan to achieve a long-term goal
For the purposes of this chapter, he highlights a number of strategic exercises and decisions for a company.
On setting your market's buying criteria
Every buyer can be taught how to be a better buyer of your type of product or service.
Part of your messaging is your “Stadium Speech” (also sometimes called the “Elevator Speech”. When preparing it, remember that market data is more motivational than product data. Another opportunity in messaging is the identification of the Smoking Gun that positions you (and your product/service) above your competitors.
On ranking your (or any) market
- 3% of any market is buying now
- 7% are open to buying
- 30% are not thinking about it
- 30% do not think they are interested
- 30% know they are not interested
The hardest thing to do today is to grab the attention of potential buyers and keep it long enough to help them buy your product or service.
To circumvent this challenge, Holmes recommends an Education-based Selling Approach.
- Offering education that helps a buyer generates more buyer interest
- If your information is good, it repositions you in the mind of the buyer as more of an expert than your competitors
- Often, you are teaching them things about their business that they did not know
- If you think and plan strategically, you will find a way to weave your information in such a way that ultimately sells your product or service better than you could with a straight pitch!
Many strategic or selling objectives are minimized by education-based marketing.
- Easier to get appointments
- Enables you to get appointments with almost anyone (even the 90% who are “not buying now”)
- A salesperson is seen as an “expert” (not a salesperson)
- Gives credibility to their salesperson
- When you being with real data and facts, sales material at the end has more context and credibility
- With control over the material presented, it unseats competitors because their story is controlled
- Creates brand loyalty
- If you give value, people tend to want to return value
- Allows you to frame timelines for expected results and the effectiveness of recommendations
- Deepens rapport and connection with the seller
- The presentation can be formalized to be consistent and repeatable
- Presented can be designed to speak to the objective and intent of the company (independent of the salesperson)
- Salespeople become more consultative
Chapter 5 - Hiring Superstars
One of the author’s recommendations for finding and hiring Superstars is to put the highest number that people can reasonably achieve on your ads. This is especially important for sales and marketing positions where compensation is tied to performance.
If you put an average number, his point is that you will get average respondents!
When interviewing, he uses a tactic to reject candidates as a test to see how they respond to rejection. In a sales-focused role, rejection is a reality and where better than the beginning to test their mettle?
3 Steps to Interview Superstars
Here are the three phases of his process
- Relax
- Probe
- Attack
Relax
In this phase, the objective is to be friendly and a good listener. The candidate (and you) can be at ease because you are gauging their ability to build rapport.
By starting in a relaxed state, the candidate is free to be more open as you transition to dig deeper.
Note:
He suggests a good practice to ask the candidate to “write down five (5) questions you want to be asked that will show your best side”.
This will provide insight into where the candidate sees their strengths (as well as suggest those unmentioned areas where they might feel they are deficient).
Probe
One of his usual lines of questions involves getting permission to ask about the candidate’s childhood. While not related to experience or background, this gives two important clues.
- Is the candidate open and willing to be transparent as this is a key aspect to building rapport?
- Were they brought up in a manner that developed their self-esteem?
Here are some of the questions that he uses from a background standpoint:
- What events or influences from your childhood shaped who you are today?
- What are some of the biggest challenges that you have faced in your life?
- What is the toughest sale that you have ever made?
When asking about achievement, here are some options:
- Tell me about a time in your life when the odds were stacked against you and you overcame them.
- Tell me about the 3-4 things of which you are most proud.
- Have you ever achieved a high level of mastery in something?
Note:
Specific to achieving a high-level mastery, the activity or skill is of less importance than the fact that they exhibited the commitment and determination to achieve it!
He checks empathy with questions like this:
- How would your best friend describe you?
- Of everyone you know, who has the most faith in you? Why?
- What are your best memories?
He asks candidate to rank themselves on a scale of 1-10 on these characteristics.
- Ambition
- Confidence
- Ability to face rejection
- Establishing rapport
- Qualifying skills
- Ability to create desire in prospects
- Closing skills
- Time Management
- Presentation skills
- Strategic thinking
- Market knowledge
- Self-improvement
- Getting around the Gate-keepers
Another good question is to ask about the last book that they read and what they learned from it.
As a review of their resume, you can focus on these questions.
- Why did you leave your last three (3) jobs?
- Were you unhappy? Why?
- Tell me about a disagreement with a boss. What happened?
- Name two (2) weak points of previous bosses.
- Name two (2) instances when a supervisor criticized you.
Attack
It is in this “attack” phase that Holmes works to identify “superstars” (and weed out those who are not).
After going through the above, he uses some version of this as his attempt to put them on the defensive.
You’re a nice person, but I have one (1) position and I need a superstar. This is a highly competitive industry and I doubt your personality and skills will hold up. To be truthful, I don’t get the impression that you are a real superstar.
You will weed out a lot of candidates (and possibly lose some good ones) with this technique, but at this point, a real superstar will shine.
Note:
You can use a similar tactic with a non-sales position.
I wish I had more than one (1) position because I really like you. However, I have only got one (1) and I am wondering if you are the best fit.
Hiring Salespeople In A Small Shop
Holmes offers the following advice for smaller operators to attract candidates for your sales team.
- Identify your premium package
- Estimate its value
- Determine how much you would pay as commission for that sale
- Determine how many you can do per month
- Advertise that amount as the monthly commission!
My Take:
There is a difference between a “star” and a “great” performer.
Stars can achieve amazing things, but more often than not, they cannot elevate their peers.
The truly great performers have the capability to make their peers look like stars!
One need only look at the NFL to find a number of star QBs, but there are few great ones. This is true in all sports (as well as the business world).
Often, stars revert to the mean of those around them. It is rarely the other way around.
When hiring (or drafting), remember that a star rarely changes the trajectory, but if you can find a great performer, you want to work to keep them!
Chapter 6 - The High Art of Getting the Best Buyers
The main key point in targeting prospects is the identification of what Holmes calls your “Dream 100”. Instead of focusing on “all buyers”, he recommends an approach of relentlessly targeting that niche group.
Our goal is to develop and deliver all sales and marketing efforts toward taking these ideal buyers through the following progression.
- “I’ve never heard of…” [to]
- “Who is this company I keep hearing about…” [to]
- “I think I’ve heard of…” [to]
- “Yes, I’ve heard of…” [to finally]
- “Yes, I do business with…”
Companies need to determine the Lifetime Value (LTV) of a customer. Understanding their value over time guides budgeting and spending decisions in areas like sales, marketing, and customer service.
When calculating LTV, keep these two questions in mind.
- How much are clients worth over their lifetime?
- How can you increase that based upon what you offer them & how you treat them?
Holmes’ main tactic is his “Core Educational Session” that is developed for delivery to decision-makers within your Dream 100. Instead of working to sell solutions to a problem that the employee has, this informational session highlights their problems (that you solve) to leaders by educating them about their business.
On Business-To-Consumer
While this educational objective works within the business-to-business environment, a similar tactic can be exercised within the business-to-consumer realm as well. Here, it will often take the form of service that you offer (in addition to your main product or service).
By targeting your “best neighborhood” promising that expanded level of service, you can do more for that smaller group than you could afford to do targeting “everyone”.
On Referrals
Where feasible, find ways to offer existing clients added value when they refer new clients to you. These can take the form of discounts, rewards, or other gestures that motivate the to help attract more clients like themselves.
Additionally, Holmes highlights a tactic of identifying “Dream Affilitates” as well. These are other businesses who sell to the same buyers that you want to reach, but do not sell the same product/service.
Examples can include an affiliate partnership between a software seller and a service provider for a specific niche. By cross-promoting each others products and services across both customer bases, each partner (as well their customers) stand to gain.
Note:
One unique way to implement this strategy is for each of the partners to offer some segment of their product/service as an add-on to the other’s sales. This increases the perceived value offered by each!
Chapter 7 - The Seven Musts of Marketing
Designed and executed properly, these areas stack and work in a united fashion as a part of an overall marketing strategy.
Advertising
Rule #1 - Must be distinctive
Does your advertising attract attention? Today on television, most people DVR / TiVo advertising (or just the sound altogether. At this time of highest costs, many television, radio, and print advertising sits at its lowest reach and efficacy.
Rule #2 - Capture attention with a screaming headline
The author highlights a 3.2-second limit on communication of message or intent. Headlines should deliver the message immediately and motivate the viewer/reader to remain for more information.
Rule #3 - After your headline hooks the, your body copy has to keep them reading
Vision and language should focus on the prospect (not you)! Speak about your product/service in terms of its benefits instead of features. Every sentence should unfold the story that you want to tell and make them want to keep watching.
Rule #4 - Include Call-To-Action (CTA)
Be sure to motivate action from prospects (whether that be further engagement or movement toward a sale). These can take the form of scheduling educational follow-ups or couponing strategies to lower barriers to a deepening of connection.
Other Advertising Ideas
- Take good ads and reuse them (or images from them) on other platforms
- For those looking to utilize television advertising, Cable TV usually offers better rates and can be targeted to more niche audiences
- It also serves as a good platform for geo-targeting by cities and zipcodes
- Mini-movies (that tell part of a larger story) can be a solid branding tool
- If you use billboards, they must convey no more than ONE message
- Typically, these are targeted for branding or recognition rather than sales or conversions
Direct Mail
Direct mail messaging is often a good use of the education-based or statistical data developed for the Education session. Success is mainly dependent upon how consistent and regular mailings occur.
Rules:
- Use color as much as possible
- Put messages on the envelope that are benefit-oriented and focused on the prospect
- Make mailers look like items that users regularly open (bills, greeting cards, invitations, etc)
Author’s Hint:
Many magazines will allow a company to direct mail their subscribers if they are advertising with them.
Corporate Literature
Whereas many many companies do not coordinate Marketing, Sales, and Public Relations, each of most effective as a part of the organization’s overall brand messaging.
Corporate literature should coordinate with look, feel, tone, and content with other marketing efforts. It should draw from the education-based material and be a miniaturized version of our stadium pitch/core story.
Again, be sure that the copy focuses on buyer, their pain, and their journey (not your own). Promotional pieces should make the argument for the need of your product/service.
Public Relations
Much like the idea for a “Dream 100” set of prospects, Holmes highlights the need for an intentional process for identifying and nurturing relationships with publicity sources.
These opportunities can manifest as trade show parties, benefits for clients, press releases, getting articles written about you (or by you), and affiliating with trade associations or community groups. These are opportunities to tell your story from a third-party viewpoint.
70% of what is published as "news" is actually placed news or news from press releases/PR initiatives.
Regardless, every press release should be followed up with a phone call offering additional follow-up or suggesting other opportunities to share information valuable to their audience.
Speaking At Industry Events
These represent prime opportunities to share your core story. They offer a receptive audience with whom you can highlight your understanding and experience with their pain (as well as your capability to solve it).
This technique works best if you work within a specific vertical market or niche. This more closely hones your message to the audience best likely to hear it.
Using Articles In Trade Publications
It is good to include these types of digital (and non-digital) resources as part of our public relations strategy. Be sure to target relevant editors, writers, and podcasters on a monthly basis. Most are always looking for value-add content to share with their readers.
If you are able to get an article about you (or by you) published, you can use it in multiple ways.
- Can be referenced in your promotional pieces
- Can be shown to prospects by your salespeople
- Used as a direct mail piece
- Included in brochures or as part of your core story
- Handed out at Trade Shows
- Used (or quoted) in your Advertising
Hint:
Holmes shares that if you can legitimately mention a Fortune 500 company within the context of the article, it can increase more widespread notice by the media.
Personal Contact
Holmes dedicates an entire chapter later in the book to this very topic of Personal Contact (by salespeople and customer service representatives.
Trade Shows and Market Education
My Take:
If Trade Shows and/or Market Education are part of our strategy, this section of the book (from pages 139-148 in the edition that I read) is worth the price of the book alone! Holmes unpacks a number of strategies and ideas that make this a “can’t miss” chapter!
When utilizing trade shows, here are his rules.
Rule #1 - Get Noticed
You need to do something to be the “interesting” and/or “fun” booth. More so than any other, you want to be the company that everyone talks about/remembers.
Rule #2 - Drive Traffic
Build your “Get Noticed” theme with some connected action or hook to bring people to you. Again, your objective is to get attendees looking for (and happy to find) you.
Rule #3 - Capture Leads
Get a business card and email from everyone with whom you interact. Have them fill out a multiple-choice questionnaire that you can use to qualify leads and prospects for subsequent follow-up.
Using Charity Events
Creating and delivering a charity event in connection with a trade show is a good way to attract positive attention for yourself as well as get publicity for the charity.
Oftentimes, the event pays for itself and profit goes to the charity.
You can have restaurants, travel companies, and other attendees (and advertisers/sponsors) donate prizes, gifts, or entertainment to increase the value of the event for attendees.
Creating Your Own Trade Association
If there is no trade association for the niche you serve (or you identify the need for one with specific attributes that you can satisfy), creating your own trade association for your prospects can be an effective strategy. Invite your Dream 100 to participate. You can include your competitors as well, but as the creator, you are perceived as the expert and driving influencer.
One smaller version of this strategy is creating a conference or seminar for potential customers. This offers a more targeted interaction with your audience without the long-term management requirements that a trade association might require.
Internet
Specific to the Internet, Holmes highlights a quick workflow/funnel structure to follow.
- Capture leads
- Build relationship
- Interact as much as possible
- Offer a webinar
- Convert traffic to sales
He recommends directing your traffic to what he labels a “shy-yes” site with one intended action – Prospect gives email and gets something of value.
My Take:
Digital Marketing, be it organic or paid traffic that we convert to leads, prospects, and customers is what we do at SirusDigital. Holmes shared Alex Mandossian’s idea of the “shy-yes” site which has since evolved into what we now know as a landing page and lead magnet strategy.
If you are an attorney or law firm working in bankruptcy, debt management, or real estate niches, be sure to connect below to see how we can help improve your digital strategy and results.
For some additional posts on specific digital marketing topics (like SEO and Content Development), check out these links.
Chapter 8 - The Eyes Have It
As humans, we remember:
- 20% of what we hear
- 30% of what we see
- >50% of what we hear and see
85% of the information taken into our brains comes through our eyes! This leads to the reality in sales that visuals close more sales for higher rates!
There are 3 modes of communicating.
- Your words
- Your tone
- Your body language
Audiences like a speaker who appears to be in command of the moment.
Colors and shapes communicate emotion as well as information.
- Red suggests passion and/or danger
- Blue communicates refreshing or “tried-and-true”
- Orange denotes value
- Green means money
Even when displaying landscapes or scenery, images draw more engagement and interaction when there are human shapes as part of the picture. When using graphics, it draws more attention to humans engaging in the environment.
Rules for Effective Presenting
- KISS (Keep It Simple Stupid)
- Be sure that your presentation is easy to follow and understand
- As a model, use slides containing 1 headline & 3-4 bullets.
- KIFP (Keep It Fast Paced)
- Try to set a pace of 2-3 panels per minute
- By having new points appearing every few seconds, it is less likely that the audience will multi-task
- Use “Wow” facts and statistics
- Your factual information lend credibility (which carries over into the “sales” portions of your presentation)
- Start by reviewing the target industry over time
- Used properly, these can setup buying criteria to differentiate your product/service
- Create opportunities to share stories
- Stories have been shown to increase retention as much as 20% over not using one
- Your presentation should be curiosity-driven
- Unfold your information in a way that keeps prospects curious
- Keep audience anticipating the information that you are about to share
- Think of each headline as valuable real estate
- Headlines should build intrigue for and sell panels
- Summarize the most important part of the panel
- Make every panel work for you
- Be confident (not obnoxious)
- It is a good exercise to start your session by having the audience stretch with you as a bonding exercise
- Create opportunities to have the audience share their problems
- Focus on them (not you)
Common Presenting Mistakes
- Thanking prospects for their time or apologizing for taking it. (Note: This communicates that your time spent sharing the information was not valuable.)
- Presenting with hands in pockets.
- Presenting from a seated position.
- Being led around by your nose. (Do not let people interrupt as that puts them in control of the meeting. Get them to follow you so that you can lead them to a close.)
- Letting materials upstage or guide you. (Your presentation is not going to make a sale; you are! Visual aids are aids; you are the presenter.)
- Keeping it totally serious. (Humor increases retention and interest.)
- Failing to practice the presentation each & every time before delivering it. (The more you know the material; the more persuasive, powerful, and effective you will be.)
- Having no idea what comes next in the presentation. (You need to pre-sell each panel. Use patter between panels to keep attention and build anticipation.)
Holmes' Template for the "Executive Presentation"
- Areas covered
- State of Industry
- Five Trends in our Industry
- How our product helps you
- What you need to know about our product/service
- State of the Industry
- Share your research and data displaying your knowledge and understanding
- Look for “Wows”
- Five Trends in our Industry
- Highlight issues or problems that clients are going to have
- Be sure to call them problems (not challenges). Using this language predisposes prospects to a mindset to hear solutions
- How our product helps you
- After identifying problems and predisposing prospects to solutions, be clear about how your product/service solves those problems that they have.
- Give prospects a reason to take action (and an action to take)
- What you need to know about our product/service
- This is the pitch of your product/service
- Include a section that establishes criteria for a solution (of which your product/service is the best one that meets them)
One of Chet’s recommendations (noted in the heading above) is to call your presentation an “executive briefing” or “orientation”. When labeled a “presentation”, it sounds more like a sales pitch.
Chapter 9 - Nitty Gritty Of Getting The Best Buyers
In this chapter, Holmes again highlights his recommendations related to his “Dream 100” model. These represent a pre-determined set of about 100 prospects who exhibit the best qualifications to be your ideal customer.
Communication and marketing efforts targeting this list need to be organized and consistent. It will be a relentless program to win them over as “customers-for-life” that you execute expecting that they will likely say ‘No’ several times.
Perfect World Scenario for Dream 100
At the outset, offer decision-makers and leaders the opportunity to learn the “five (5) most dangerous trends facing [your-selected-niche]”.
Editor’s Note:
A key component of Holmes’ “Dream 100” strategy is our selection of a niche. Many businesses (especially new ones) struggle to create marketing and execution processes because they do not properly identify (and market to) a niche.
Under a niche-focused strategy, you gain a much better understanding of their problems and design your products/services to best address them.
Without it, valuable time and resources are expended in a perpetual learning cycle as opposed to delivery value.
The initial contact should highlight your offer in the tone of how your business “needs [your-selected-niche businesses] to succeed” in order for your to be successful. This immediately reframes any future relationship as a partnership; not a sale.
He suggests a contact similar to this.
“We need [niche] to be successful. To that end, we studied (or commissioned a study) and found that you [the-niche] have some serious problems. To make sure that you succeed, we are offering this information to you at no cost.”
Editor’s Note:
The objective of each of these contacts is scheduling a presentation of your “Informational Briefing” to their decision-makers. Each of these recommendations is growing brand awareness and building trust with the objective to get the opportunity to present your session where you will highlight their problems framing your products/services as their solution.
Two weeks later, follow up this initial contact with another offer that includes a twist or pneumonic connection.
For example, Holmes followed this strategy and sent his two-week follow-up contact including a Rublik’s Cube. The attached note highlighted that “the Rubik’s Cube had a number of possible options, but you only need to work about [your-niche’s-big-problem-that-you-solve] when to comes to being a successful [niche player] today. Don’t get bogged down in complexity, but check out our information instead.”
Keep sending notes and reminders every two-to-four weeks with different memory pneumonics.
The book included other small gifts that he had used.
- Compass
- Flashlight
- Tape Measure
Most can be purchased (branded) cheaply, but they serve as physical reminders and associations as your prospects go about their day-to-day.
Six Steps To Dream 100 Client
Choose Your Dream 100
Make a list of dream clients, neighborhoods, affiliates, and media targets. Identify your criteria based on the number of employees, value of the company, location, industry, audience they represent, etc.
A key component is to identify who can say ‘Yes’ and target your education at that person. Instead of focusing on the beneficiary, target your message on the decision-maker and construct your offer to bring value to them.
Choose The Gifts
When selecting gifts, identify small, inexpensive ones to prevent giving prospects a feeling of being bribed. It is better to pick useful or cute things (penlight, squirt gun, tape measure, etc.) that many may just give to their kids.
These will allow you to differentiate from the typical “marketing crowd” and breed more brand awareness as you will be remembered for the interesting or “unexpected” gifts.
Remember: Some incentive companies offer bulk discounts which makes buying multiple gift sets at a time a good option.
Create Dream 100 Letter
These notes should accompany every gift. While short and as personal as possible (so they will read it), be sure that the contents relate the gift to their problem and your solution.
Each letter should include a clear call-to-action so that they know what you want them to do.
Again, your goal is to get an appointment to present your “Executive Briefing”.
As you are writing the letter, treat it as a part of your campaign (not as an individual contact). Focus your headline on the prospect and the gift.
In the letter, you can tactically reference your product/service, but be sure to focus more on the outcome it delivers.
Create Dream 100 Calendar
Once you have identified your contacts and gifts, commit to a schedule for your touchpoints and identify what format you will deliver them. (Note: It is a good practice to vary your delivery format to avoid them becoming stale.)
Options include:
- Cards
- Letters
- Novelties
- Newsletters
- Promos
- Surveys
- PR articles & press releases
Conduct Dream 100 Phone Call Follow-up
Commit to making a phone contact with each prospect after each mailing or gift. While the interaction is fresh on their mind, focus on the goal of getting your core story in front of the prospect (i.e. “Executive Briefing”).
An important skill to develop in this phone call follow-up phase is learning to get around “Gate-keepers”. Some of Holmes’ hints include:
- Your voice has to sound like you are important. (Learn to do this while not being obnoxious!)
- As much as possible, tell the assistant what to do. (Don’t ask!)
- Remember – If the assistant leads the conversation, you lose!
Present The Executive Briefing
When delivering your briefing, keep the following in mind.
- Use market data (not product data)
- Set the buying criteria in your favor
- Find the “smoking gun”
- This is the one thing that undeniably positions you over someone else.
- Make sure you hit their pain points
- Include your own pitch for your product/service (only after you have covered the education thoroughly)
During your presentation, here are some reminders.
- Don’t pitch yourself too early
- Only one person can present to any client at a time
- You can have more than one person there, but only one is in charge!
- If you are using a webinar, follow-up between scheduling and presenting must be consistent!
- Between the two events, it is a good opportunity to send a questionnaire teasing information that will be shared.
Chapter 10 - Sales Skills (The Deeper You Go, The More You Will Sell
Much of Chet Holmes’ successes are predicated on his procedure creation and training programs (especially those focused on a sales process). He works with companies to define their sales process in a targeted step-by-step manner and repetitively train new (and existing) salespeople to follow it.
He highlights the levels of training based upon understanding by the learner.
- Memorization – Learner may know, but not be able to apply
- Synthesis (or subconscious competence) – Learner has learned the material so well that they can deliver it within their own style and method of doing things.
There are seven steps to his general sales process.
Establish Rapport
If are friends with your clients, it is very hard for competitors to take them away! The more you create a sense of community and friendship with your clients, the stronger your grip will be on them.
Here are some of his recommendations for deepening your relationship with your prospects/clients.
- Make them feel like they are working with an expert
- Ask great questions
- Have a sense of humor
- One of his recommendations is to share a “joke of the week ” with them.)
- Commiserate with them to strengthen your bond
- Be empathetic & care about them
- Find common ground in things to which you both can relate
- Mirror them
- This is a psychological technique of matching the body language & tonality of your prospects/clients
Qualify The Buyer
This specifically relates to identifying their need. You want to find out what the prospect is looking for in a product/service as well as what factors will influence them to buy.
If they already have an existing buying criteria, this will serve as your opportunity to reset it so that your product/service becomes their logical choice.
Holmes suggests these questions at this phase.
- How do your customers find you?
- What is the most effective way you have for gaining new clients now?
- What is your average sale? (Note: This is useful in a cost-justification discussion.)
- What are your three biggest problems that you are having in [their niche]?
- How long have you been here?
- How did you get started?
- What are your goals for the company?
- What are your goals for yourself?
- What are your criteria for making a decision about buying a product/service like ours?
This is a point in the process where you want to introduce the costs of not using your product/service!
Build Value
This is the key part where you share your core story/executive briefing. Be sure to share data related to the problems they are having as well as painting the end state for them with a solution in place.
He shares a favorite statement within this section.
Whether you do business with us or not, you should know some of this so you can be successful in your marketplace.
Create Desire
Here, you want to make your prospect want your product/service (and want it now)!
He suggests two techniques for building interest and desire.
- Lead them through a series of questions in which you intensify their need from their perspective
- Present killer data that truly motivates your buyer to take action now
Remember that people will act faster to solve a problem (or avoid pain) than to gain an unrealized benefit. You want to tell them why they need it, not what it is!
Overcome Objections
Holmes’ technique for dealing with objections is to isolate them. You work to corral their objection (or objections) as their “only” reason for not acting, then working to resolve.
By using this methodology, you have already sold your product/service and are now removing their impediment to act.
Close The Sale
At this stage, you either want to lead them to the close or operate assuming it by moving to schedule delivery/fulfillment and arranging payment
Editor’s Note:
The seventh step in his sales process “Follow-up” earns a chapter all to its own. This is another chapter that is worth the price of the book itself!
Chapter 11 - Follow-up and Client Bonding Skills
Client retention and upsells to existing customers is a missing focus among many sales organizations. In the drive to grow and generate new sales, too many companies ignore the captive market whom they have already sold (and with whom they have an existing relationship that should be nurtured).
Holmes shares this as his “real success formula for Selling”.
Trust and Respect -> Influence -> Potential for Control -> More Market Share (at every mutually-beneficial opportunity)
One key aspect of client follow-up is to keep notes so that you can refocus and remind clients of why they purchased. With these details, you can also speak to the positive benefits that they have been getting from your product/service.
Here are his ten (10) steps to great follow-up.
- Send a follow-up letter (as quickly as possible)
- Start with something personal that you remember from the meeting
- Include a compliment
- Push their “hot” buttons and stay focused on the benefits that your product/service offers them
- Use a personal close
- Make the 1st follow-up call
- Good to offer some extra piece of value
- Always be on the lookout for how you can be adding more value for the client
- Share something amusing or of personal interest
- Throw a party, share a meal, and bond like crazy
- Send another fax, email, letter, card
- Plan something fun that can include the family
- Offer something to help their business
- Be a resource
- Act as a conduit for networking connections or affiliate opportunities
- Send another fax, email, letter, card
- Offer more help to make them successful
- Deliver a webinar or seminar on a topic or problem specific to them
- Invite them to your home or be invited to theirs
A couple of notes:
- Each of these items is an avenue to build your personal relationship with your client. These letters/notes/calls are personal connections building strong ties between you and them. (Over time, you should strive to no longer need to “get around” their gatekeeper, but be a recognized partner with the business who the gatekeeper knows to “let in”.)
- As the relationship strengthens, your connections become more personal (families, homes, etc) in addition to the professional.
Chapter 12 - All Systems Go (Setting Goals, Measuring Effectiveness, and Achieving Your Master Plan)
A major point of this chapter is Holmes’ information about our Reticular Activating System. This is a part of our unconscious that focuses our attention on the things in which we are interested or manifests the “realities” that we perceive.
A way to harness this capability is to get everyone involved for an hour per week on solving problems instead of spending your day-to-day focused on them. When talking about them, speak affirmations in the present as if the solution already exists (not that they will be found or happen).
Specific to goal setting, Holmes offers the following set of lists to serve as your foundation.
- Five (5) lifetime goals
- Five (5) annual goals
- Desired annual income for the next five (5) years
- Three (3) things you will do each month to improve your life
- Three (3) things you will do each month to improve your company (or department)
- Three (3) things you will do each month to improve your performance
Conclusion
I should have read this book years ago. If you have not read this book, I would highlight recommend it!
More importantly, I am putting what I learned to work. If you have read it in the past (or will be reading it anew now), my advice is to focus on the contents of a couple of chapters most relevant to where you and your business are right now.
Put them into practice and get started. One or two things that you put into motion will produce much greater results than chapters read, but not used!
