Philly Pod Camp: Business Development for Social Media
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Philly Pod Camp: Business Development for Social Media

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At some point, as Social Media experts, we all eventually will need to participate in the business development process, whether its actually selling our services to clients and/or our superiors, or ...

At some point, as Social Media experts, we all eventually will need to participate in the business development process, whether its actually selling our services to clients and/or our superiors, or supporting the sale of our services to our agencies clients. After all, the agencies and companies we work for need to sell our expertise to clients, and we are inexorably linked to this process as essentially 'they' are selling 'us'. Also, as individual service experts, we all need to learn the ropes of selling ourselves and communicating the value of what we provide to others. Typically, people like us who specialize in Social Media services are experts in our field, but find the art and science of "selling" to be a challenge and sometimes even confronting. This can make the business development process a confronting and challenging affair.

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  • • Some tips about “ Listening”:
    If there was one topic I would dedicate the most time to in my sessions, it would be listening skills. Over and over I see how service people need to sure up on their listening skills. Too often, we are so caught up in talking up our services, our track record, our expertise that we forget something critical: its what the client says that is more important. I have a rule for my clients: You should speak only 25% of the time at any sales meeting. Only 25% of the time. What the client says will tell you more and direct you more than anything that happens at the meeting. And you need to learn “how” to listen to what the client is saying.
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  • Don’t forget to ask for the business. I’ve seen countless instances of service providers delivering brilliant presentations, responding perfectly to every question, displaying value, and then getting up and leaving the room. You have to ask for the deal. Simple: “ So, when do you want to get started?” or “ Great, I am looking forward to working with you, how do you want me to handle the paperwork?” or “ Do you want to get started on Monday?” Sounds cheesy, but it must be done. But only if you can sense that he has already made up his mind. If you don’t know, ask. “ So, have you decided who you want to work with?”
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  • Bottom line: Your services cost money. Plain and simple. They have to, because you are not working for free (although for some reason, I see a lot of people who seem to think they should!) and you need to make a profit from your work. It’s a business after all. And at some point the client is going to want to ask about price. This is where 90% of new sales people fail. They do not feel comfortable talking about money. You need to be able to confidently and clearly communicate your service fees to people – and not worry about what they are going to think – or feel – about your pricing. First things first, you need to know how much you should charge. The simplest way to determine your rates is to know 2 factors: 1) Industry Standard rate – what is the current rate that is typically being paid for your service. If you don’t know, ask around. Call your competitors or ask your friends. Find out how much people are currently paying for your services. 2) Your own profitiabity. You need to make money on every deal. Or your business will go out of business. So, you need to evaluate your costs and know how much revenue you need to take in to be profitable. I usually ask my clients to not go below a 30% profit margin. In service businesses, that is fair. Make up your pricing and speak to it with confidence and clarity. I do an entire program on this topic alone.
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  • Always remember to ask about the timing of their decision. When are you planning on deploying this campaign? What time frame are we talking about? When would you like to get started on this? Forcing the client to commit to or reveal timing will say a lot about the level of urgency they feel. If they say, “oh, sometime next year” its likely that they are in shopping mode and the likelihood of a deal is pretty low. Conversely if they say “next week” they may be running scared and make a decision out of desperation. But knowing the timing is critical.
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  • What is the most important thing that you are concerned about in regard to this decision? What concerns you most about who you are going to hire?
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    Philly Pod Camp: Business Development for Social Media Philly Pod Camp: Business Development for Social Media Presentation Transcript

    • How to Sell the Value of Social Media both Internally and Externally Business Development & Social Media:
    • TWO BUCKETS:
      • 1. Being a part of the sales process
      • 2. Selling your own services / yourself
    • PARADIGM: Sales People and Sales Process
          • How do I communicate the value of my service to people who don’t fully understand it?
    • PARADIGM: Sales People and Sales Process
          • How do I present myself and my services to create value and generate interest?
    • PARADIGM: Sales People and Sales Process
          • How can I work better with Business Development people to create a positive outcome?
    • PARADIGM: Sales People and Sales Process
          • How do I help manage client expectations -- avoid either overpromising or undervaluing my services?
    • PARADIGM: Sales People and Sales Process
          • How do I manage the perceptions that I have about “salespeople”?
    • PARADIGM: Selling Myself
          • How “technical” do my proposals need to be?
    • PARADIGM: Selling Myself
          • What kind of questions should I be asking my potential clients?
    • PARADIGM: Selling Myself
          • How do I help create better proposals and better communicate the value of my services to prospects?
    • PARADIGM: Sales People and Sales Process
          • How can I better add value to the sales process?
    • INTERNAL SELLING:
      • Making friends with Business Development
    • INTERNAL SELLING:
      • Ensure that your service is properly represented
    • INTERNAL SELLING:
      • Add Value
    • INTERNAL SELLING:
      • What’s my role here?
    • INTERNAL SELLING:
      • Its teamwork, after all
    • INTERNAL SELLING:
      • Egos
    • INTERNAL SELLING:
      • “ The Fish stinks from the head”
    • ATTENDING/PARTICIPATING AT CLIENT MEETINGS
      • Be prepared
    • ATTENDING/PARTICIPATING AT CLIENT MEETINGS
      • Practice your speaking role
    • ATTENDING/PARTICIPATING AT CLIENT MEETINGS
      • Know where you fit in
    • ATTENDING/PARTICIPATING AT CLIENT MEETINGS
      • Only answer the questions you were asked
    • ATTENDING/PARTICIPATING AT CLIENT MEETINGS
      • “ Don’t make stuff up”
    • ATTENDING/PARTICIPATING AT CLIENT MEETINGS
      • Let the BD guy lead the meeting
    • ATTENDING/PARTICIPATING AT CLIENT MEETINGS
      • Think about the sale
    • Selling your own services / Selling yourself
    • Qualifying - The Key to Everything
      • Who is your buyer?
    • Qualifying - The Key to Everything
      • Why do they need you?
    • Qualifying - The Key to Everything
      • What are they really buying?
    • Qualifying - The Key to Everything
      • Why you? What makes you so special?
    • Qualifying - The Key to Everything
      • Are you talking to the MAN?
      • How do you know?
    • Qualifying - The Key to Everything
      • Can they really buy?
    • Questions to Ask a Potential Client
      • Problem oriented questions
    • Questions to Ask a Potential Client
      • Solution oriented questions
    • Questions to Ask a Potential Client
      • Fear Factor questions
    • Questions to Ask a Potential Client
      • Timing
    • Questions to Ask a Potential Client
      • Money - The Ugly Word
    • Questions to Ask a Potential Client
      • Ask for the Sale!
    • Q & A