The Sales Café

ELA's lead generation survey results are in!  Nearly all respondents are from or with sales organizations where they are responsible for the relationship or partnership with their customers. Everyone expects salespeople to generate new leads, every month.

The best return on time invested included local networking/public speaking and asking for referrals.  Over 80% thought the lead generation approach used was vital or important to developing trust.

Respondent advice on lead generation ideas sorted into four primary buckets.

• 1) Reward lead generation activity as part of overall sales process
• 2) Focus on the Customer in all interactions
• 3) Be professional including making and keeping commitments to prospects
• 4) Always provide value by knowing your product and value proposition

Since relationships are based on trust, then the lead generation approaches like asking for referrals, networking, and public speaking must cultivate trust between the prospect and the sales person.  Let's create a list of tips for each approach that are both effective and build trust.  I will post a short ELA RTG blog entry on each approach over the next few weeks.  You can enhance the approach by adding your comments and ideas. 

Thank you to all who participated.

At some point in their evolution, all sales organizations go through a thorough analysis of their sales process, with the goal of maximizing the efficiency of pulling customers through their new and finely tuned sales cycle. The prevailing notion is that if we just understood our selling process better – what the steps are, who performs them, the timing of each step, etc. – then we could optimize our selling process, thereby improving our closure rates and overall quota achievement.  Viewing the world in this way – what is best for us – is what I call an Inside-Out approach.

Instead, we should recognize that the only reason that our selling process even exists is because our customers have a buying process that they are trying to get through as efficiently as possible.  Once we make this realization, things can really start to fall into place.  Rather than trying to find all the ways to more efficiently pull our customers through our selling process (Inside-Out), we should focus on how well our selling process aligns to our target customer’s buying process, which is what I call Outside-In.

Let’s take an example of a potential sale near the close of our fiscal quarter (end of January) for $150k worth of forming equipment for a small lamp shade assembly plant.  In the normal Inside-Out (sales cycle) approach, our sales team would naturally be fixated on convincing the prospect how our forming machine is superior to anything on the market, and at a price that beats the competition.  We would focus on moving the customer through the stages of our sales process, including: 1) confirming that they need a new forming machine, 2) verifying that our machine meets all their requirements,  3) checking that the price of our solution fits within their budget, and 4) that we can deliver our solution in a timely manner.  Sounds like we have this deal in the bag, right? 

Wrong. 

If we had been focused Outside-In rather than Inside-Out, we would have put ourselves in the shoes of our customer.  Doing so would have indeed verified all the steps above, but would have also uncovered the fact that any purchase for over $100k requires Board approval, and that the Board only meets four times per year, just after the close of each calendar quarter.  Since that meant the Board held their recent meeting about a week ago, we now have no chance of closing this deal until next quarter!  Bummer . . .

This is Part 1 of a continuing series on Outside-In thinking.  Please let me know what you think – post your own “ah-ha” moments in the comment field – and stay tuned for more to come.