Posted tagged ‘Competitors’

Cold Calling Step 3: Creating the Presentation Script

July 14, 2010

When it comes to cold calling, there is tremendous value in organizing one’s thoughts in advance.

Doing so in writing has significant advantages including (1) being better prepared as to what you wish to convey, (2) thinking you are better prepared which translates into being able to speak with greater confidence, (3) establishing a baseline so that you can emphasize what resonates and eliminate what doesn’t and (4) being able to actively listen because you are no longer concerned about inadvertently not mentioning something important.

My mentor, Carl Epstein, taught me an exceptional scripting tool, which I would like to share with you in today’s post. There are several elements in the structure of this type of script. These scripts should be written in bulleted form so that it does not sound like you are reading it and because bulleted writing typically eliminates excess or needless words.

Here are the elements:

(1)    Introduction: This is simply an opening statement of courtesy and may be as simple as “We haven’t spoken in a while. I wanted to catch up with you and share with you what we are doing and see if we can help you advance your business.”

(2)    Vista: This section is where we bring in the business benefits. In essence, you are “painting the future” here. Effectively introducing the value that your product or service provides early on is critical in encouraging your prospect to invest more time in hearing the rest of your presentation. They choose to listen because your product or service may be addressing a real need for them.

(3)    Product / Service Information: This is where you speak in detail about the key elements of your service or product. The purpose of this section is to connect the business benefits to your offering. The prospect should be able to realize the direct relationship between your product and the benefits that he or she is hoping to receive.

(4)    Action of Buyer / Reason for Action: However, just in case the prospect can’t, it is critical to reintroduce the benefits and tie them tightly to your offering. Here you review what you offer and connect it to the business value.

(5)    Ask for the Order: It is here that you present the request for the “next step.” It could be the order or a meeting or a demonstration but, regardless, it is imperative that you be clear about what you are requesting and that you make a definitive request.

(6) Common Objections: The last element is to prepare a list of common objections and responses. Before you begin and even more likely, after you have made a few calls, you probably will be able to anticipate why someone may reject your offering (cost and time required to implement are some typical examples). You should anticipate these questions and prepare responses so that you are immediately ready to address these objections. Remember though – after addressing the objections, you must ask for the order again.

If you have prepared this script properly, you should be able to effectively deliver this presentation in two to three minutes.

A couple of additional thoughts:

  • The script that is written at the outset of an engagement always evolves over time. Each call allows you to tighten the language and become more succinct. Edit the script regularly until it is efficient and can be said more simply. (I call this “getting your voice.”)
  • After a while, you should discover that referencing the script is no longer necessary. The act of creating the script and repeating it frequently allows for a more natural presentation.
  • Of all the sections, the Vista section is usually the most important because if the business benefits are not clearly presented, the prospect will choose to end the conversation.

Fortunately, if you have followed Steps 1 and 2, you have a set of likely business benefit candidates upon which you can draw.

Cold Calling Step 2: Understand the Product and Align Its Capabilities to the Business Benefits

July 12, 2010

All salespeople have a natural tendency to become very related to the products that we sell. This occurs because nearly all of our conversations within our company and to our prospects revolve around the product features.

We truly become immersed in what we offer the marketplace – and with all of these conversations circulating, we naturally assume that our prospects will have a native understanding of what we provide and why it makes a difference, simply by our verbalization. There is even a tendency for salespeople to assume that a cursory explanation of the product’s capabilities to a prospect will naturally evoke an understanding by the prospect as to how using the product or service will benefit them.

Experience, though, has shown this to not be the case.

Our task as effective salespeople is to connect the benefits and the capabilities for the prospect. Put it this way… Failure to do so should result in a prospect saying, “I understand what your product does; I just don’t understand the value proposition.” If only prospects were so open when this occurred because then we would clearly understand that we have not created the necessary linkage between benefits and product capabilities.

There are a few ways for us to become “smart” about what these benefits and their related capabilities truly are. Clearly, as we outlined in the first step, understanding the industry, target markets and their needs and relating them to the product or service is a terrific place to begin.

Many salespeople, however, fail to look at the messaging of their direct competitors. Competitors are typically not shy about posting about their value on their web sites. Facebook pages of competitors often enable you to discover, via testimonials and comments, what buyers truly value.

This is important because, as we shall see in future posts, simply because you believe something to be a benefit, your prospects and customers may have a very different take on what constitutes the true value.

Many, many years ago when I was first beginning my business career, my first company, Flash Creative Management, decided to sell a software development tool, MUPET (the acronym stood for Multi-User Project Editing Tool). It was my first foray into selling a product for software developers and it was a priceless education for my company and me.

We had articulated the benefits in advertisements, speaking engagements and a few other communication channels. Surprisingly, to us anyway, the people who bought the tool had very different intentions for its use. We discovered by the technical support questions we were receiving that people had decided to use it in very different ways than we intended.

In some cases, this worked out just fine as the product was capable of addressing these needs but sometimes the product fell woefully short of the value that our clients hoped to receive, because frankly, the product was never designed for this purpose.

So there are two takeaways in this portion of the discussion:

(1) It is your responsibility to connect benefits to product capabilities.

(2) Just because you or your competitor thinks that the true benefits have been identified does not mean that you have successfully done so.

This second point, and our next challenge in preparing a successful cold calling campaign, will be the subject of our next post.


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