Each year, U.S. corporations spend thousands of hours and millions of dollars on advertising and promotion to create opportunities for their sales teams. But too often, the lion’s share of those dollars and hours invested don’t pay off.
Why? Nearly every promotional dollar spent is about getting to that all-important initial meeting. But once the meetings are scheduled, many sales pros deliver presentations and proposals that simply are too weak to move prospects to the next step. It's probably too much to say that every dollar that doesn't result in a personal meeting is wasted, but it's a dollar that won't help you reach your sales goals.
In any type of sales, the fastest way to earn more is not adding more prospects to your pipeline – it's converting more of those prospects to clients.
Unless you have a secret formula, generating more prospects and leads for your pipeline also means spending more money and time. If you operate on a local level, there are a limited number of prospects in your market. By becoming a more effective presenter, you can you can build your bottom line without spending one additional hour or dollar on promotions.
In the end, it doesn't matter how brilliant your knowledge, insights and solutions are if you don't present them effectively. Your ability to turn more presentations into closed business can be called your "propose-to-close" ratio, which shows how effective you are at turning prospects into clients. If you set up four meetings with prospects and one becomes a client, your propose-to-close ratio is 25 percent.
Make presentations your competitive edge
Focusing on your presentation power may be the single best investment you can make in 2010. First, few sales and business development pros make it a priority to continually improve their presentations, so there’s a clear competitive advantage. It’s also a small expense with huge potential results. To help you get the most from each meeting, here are some ideas to deliver more profitable presentations and a simple way to measure and improve your sales success in 2010.
- Play a role. Many veteran sales pros consider themselves masters at marketing presentations. Unless you're turning every prospect you meet into a closed sale, there's room for improvement. Early in your sales career, you may have experienced the power of role-playing in overcoming objections. Role-playing is still one of the best ways to build sales power and effective listening skills. Before meeting with buyers or sellers, consider role-playing with a colleague who will provide a candid critique of your current skills.
- Personalize your presentations. Do you prepare for every presentationthe same way, with the same materials? If so, please take a moment to close your laptop computer and use it to smack yourself in the head. Web and mobile resources featuring maps, charts and video have raised the bar for consumer expectations. Younger buyers and sellers raised on special effects and 3D animation are not impressed with black-and-white printouts. Your in-person presentation materials should be equal to or better than the materials they just saw on the Web or their smartphones. Invest in the tools to make personalized, high-impact presentations you can tailor to individual buyers and sellers.
- Tell a story. Most people’s brains are wired in such a way that they soon forget facts and figures, but they remember stories. With so much product information available online, consumers quickly become overwhelmed by data. It’s been said that reports convey information, while stories convey experience. You should know your product facts and statistics by heart, but your goal in the meeting is to create a shared experience with prospects that makes them feel comfortable working with you. Don’t tell people how fantastic your solutions are, let them learn it from the success stories and experiences you share.
- Profile your prospects. In today’s Web and social media world, it’s easier than ever to profile your prospects. Google their names and professional information. A few minutes of research on networks like Twitter, FaceBook, LinkedIn can help you better target your presentation and help identify a prospect’s goals, priorities and background. Your presentation for a graphic artist would probably be very different then one for an engineer. Once you learn what they know, learn who they know. It’s always helpful to mention someone you know in common, particularly if that person thinks highly of you or is a past client. If you feel comfortable, call the person you know in common and ask for a referral prior to your meeting. You’ll blow past the getting acquainted stage and move on to productive advisor status much more quickly.
No goals, no glory
What you don't measure, you can’t improve. This oft-repeated business maxim is oft-repeated because it’s true. Just by committing to continual improvement and measuring your progress, you can become a more powerful presenter. Remember, if one presentation can change your career – imagine the financial impact of making the most of every presentation.
