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Sales law of bulls eye

If you don’t aim for the best prospects, you’re likely to do business with any prospect

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THE LAW OF THE BULL’S-EYE
IF you don’t aim for the best prospects, you’re likely to do
business with any prospect
THE LAW OF THE BULL’S-EYE
It doesn’t matter how many prospects you see.
It matters how you see the right prospects.
Prospecting is a productivity game, not a
numbers game!
Prospects can be categorized into 4 profiles:
1. Low profit/high maintenance: Prospects that have potential to produce a little
business and a few referrals and are very hard to serve because of unrealistic price
and service demands and inefficient business practices
2. High profit/high maintenance: Prospects that have potential to produce a lot of
business and some referrals but are very hard to service because of unrealistic price
and service demands, inefficient business practices, and a high need for ego
fulfillment
3. Low profit/low maintenance: Prospects that have potential to produce a little
business and a few referrals but are likely to provide greater profits as the
relationship grows, and are easy to serve because of a high level of professionalism,
strong desire to partner with you, and efficient business practices
4. High profit/low maintenance: Prospects that have potential to produce a lot of
business and many referrals and are easy to serve because of high level of
professionalism, strong desire to partner with you, and efficient business practices
THE LAW OF THE BULL’S-EYE
THE LAW OF THE BULL’S-EYE
All sales presentation success is predicated on hitting the right prospects
who will in turn become clients that reap high returns for life.
1. A car salesman asks for my card and calls me once, three weeks later. By that time I had already
bought a car from another dealership that communicated with me six times before I picked the
car up and five times after I drove it off the lot. The result was that the first salesperson lost
50,000USD; the second gained my trust.
2. Sixty-five real estate agents get my name but only one follows up, and poorly. I buy from none
of them. I call sisty-sixth agent and after three meetings, I select him and use his services three
times in five years, total 65,000USD in commissions for that salesperson.
3. As a salesperson, one particular client didn’t give me her first order until eighteen months after
she knew she was my prospect. During that time I communicated with her eighty one
times, trying to add value each time, so that I would ultimately be selected as her vendor. In
the end she became my best and most profitable client.
“What you do between the time you meet a person and the time that
individual decides to buy determines whether he or she will become
your client or your competitions.”
THE LAW OF THE BULL’S-EYE
Todd Duncan studied successful sales people. He did things
differently to elevate his sales career:
1. I always tried to determine another client or vendor who knew my
prospects’ names so I could use them in my introduction. This helped
build credibility and trust and reduce tension.
2. I never “cold-called” again but made my cold calls warm, my warm calls
hot, and my hot calls sizzle by sending a letter in advance of calling for an
appointment.
3. I always made sure my initial letters had a unique value proposition-
something embedded in the letter that would genuinely attract their
attention and captivate their interest.
4. I kept every phone call in which I asked for a business development
appointment to less than 90 seconds whether I called the prospects or
they called me. I committed to discovering needs and offering solutions in
person rather than on the phone.
5. I sent thank you letter and a testimonial from an existing client to my
prospects two days before meeting with them.
THE LAW OF THE BULL’S-EYE
GET READY…
AIM…
FIRE!
Ad

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Sales law of bulls eye

  • 1. THE LAW OF THE BULL’S-EYE IF you don’t aim for the best prospects, you’re likely to do business with any prospect
  • 2. THE LAW OF THE BULL’S-EYE It doesn’t matter how many prospects you see. It matters how you see the right prospects. Prospecting is a productivity game, not a numbers game!
  • 3. Prospects can be categorized into 4 profiles: 1. Low profit/high maintenance: Prospects that have potential to produce a little business and a few referrals and are very hard to serve because of unrealistic price and service demands and inefficient business practices 2. High profit/high maintenance: Prospects that have potential to produce a lot of business and some referrals but are very hard to service because of unrealistic price and service demands, inefficient business practices, and a high need for ego fulfillment 3. Low profit/low maintenance: Prospects that have potential to produce a little business and a few referrals but are likely to provide greater profits as the relationship grows, and are easy to serve because of a high level of professionalism, strong desire to partner with you, and efficient business practices 4. High profit/low maintenance: Prospects that have potential to produce a lot of business and many referrals and are easy to serve because of high level of professionalism, strong desire to partner with you, and efficient business practices THE LAW OF THE BULL’S-EYE
  • 4. THE LAW OF THE BULL’S-EYE All sales presentation success is predicated on hitting the right prospects who will in turn become clients that reap high returns for life. 1. A car salesman asks for my card and calls me once, three weeks later. By that time I had already bought a car from another dealership that communicated with me six times before I picked the car up and five times after I drove it off the lot. The result was that the first salesperson lost 50,000USD; the second gained my trust. 2. Sixty-five real estate agents get my name but only one follows up, and poorly. I buy from none of them. I call sisty-sixth agent and after three meetings, I select him and use his services three times in five years, total 65,000USD in commissions for that salesperson. 3. As a salesperson, one particular client didn’t give me her first order until eighteen months after she knew she was my prospect. During that time I communicated with her eighty one times, trying to add value each time, so that I would ultimately be selected as her vendor. In the end she became my best and most profitable client. “What you do between the time you meet a person and the time that individual decides to buy determines whether he or she will become your client or your competitions.”
  • 5. THE LAW OF THE BULL’S-EYE Todd Duncan studied successful sales people. He did things differently to elevate his sales career: 1. I always tried to determine another client or vendor who knew my prospects’ names so I could use them in my introduction. This helped build credibility and trust and reduce tension. 2. I never “cold-called” again but made my cold calls warm, my warm calls hot, and my hot calls sizzle by sending a letter in advance of calling for an appointment. 3. I always made sure my initial letters had a unique value proposition- something embedded in the letter that would genuinely attract their attention and captivate their interest. 4. I kept every phone call in which I asked for a business development appointment to less than 90 seconds whether I called the prospects or they called me. I committed to discovering needs and offering solutions in person rather than on the phone. 5. I sent thank you letter and a testimonial from an existing client to my prospects two days before meeting with them.
  • 6. THE LAW OF THE BULL’S-EYE GET READY… AIM… FIRE!
  • 7. THE LAW OF THE BULL’S-EYE GET READY…. Step # 1. Secure your business plan. (Review from our goal setting) 1. Establish your volume goals. If you desire a 6 digit income, your first year must look something like this: Income Goal : 800,000.00 Sales Needed : 12 clients @ 3% commission 2. Determine your daily numbers If 12 clients are to be closed in 6 months, you will need to close 2 clients per month starting July. 3. Determine your conversion goal. This refers to the percentage of sales you want to make per sales attempts.
  • 8. THE LAW OF THE BULL’S-EYE GET READY…. The inherent value in the Law of the Bull’s-eye is that by taking better aim at the right prospects, you can increase your earnings without increasing your hours.
  • 9. THE LAW OF THE BULL’S-EYE AIM… Step # 2. Secure your prospecting sources. 2 types of relationships from which you can do more prospects without adding hours to your time:  Those that refer quality prospects to you (COI)  Those with whom you have partnered for the purpose of gaining referrals and repeat business (Clients, eg….)
  • 10. THE LAW OF THE BULL’S-EYE AIM… Centers-of-influence examples:  If you sell medical equipment – a physician who will refer you to departments in the hospital that could buy additional equipment from you  If you provide software or network solutions – the CEO of the company who will refer you to Purchasing and IT departments, as well as to other CEOs with Purchasing and IT departments who could purchase additional software and network solutions from you
  • 11. THE LAW OF THE BULL’S-EYE AIM… 5 ADDITIONAL METHODS TO OBTAIN PROSPECT REFERRALS: 1. Point of Sale: Never leave a successful business development appointment without seeking referrals 2. Repurchase Cycles: If you work with clients that have routine buying cycles, always track them. Never leave a successful business development appointment or let existing client relationships exist without determining the next order cycle and/or seeking referrals 3. Association/Networking Groups: Be involved in associations to broaden sales and partnership opportunities 4. Clubs: Become known in the organization that you are in 5. Affinity Businesses: “Closely related”
  • 12. THE LAW OF THE BULL’S-EYE AIM… Step # 3. Check ‘em out Is this client has the potential to become the type of client you want for life?
  • 13. THE LAW OF THE BULL’S-EYE FIRE! Step # 4. Design and send your approach letter Step # 5. Follow up
  • 14. THE LAW OF THE BULL’S-EYE FIRE! Step # 6. Set the appointment with a powerful, value added script. 1. Call the prospect and professionally introduce yourself, making reference to your approach letter 2. Convey that your referrer or COI asked you to call, and introduce the prospect to a possible solution for a need in his life or business 3. Ask the prospect if he has 90 seconds for you to explain 4. State the purpose of your call 5. Ask for a thirty-minute face-to-face appointment to explore the possibilities of partnering together 6. Ask when a convenient time to meet would be 7. Confirm the goals of the meeting 8. Thank the prospect and assure him that it will be time well spent
  • 15. THE LAW OF THE BULL’S-EYE FIRE! The Final Step: FOLLOW UP What happens if you follow this advice and the prospect does not agree to meet with you? Establishing Trust takes time, and sometimes that means adding value without receiving business.
  • 16. THE LAW OF THE BULL’S-EYE Dear Todd, As you know, Andrea and I attended your conference in Lanai this past summer and your sales school in San Francisco just a few weeks ago. I started working for a new company in a new city after returning from your conference. I had no contacts and knew no one. I bought a database system and set a goal of targeting the top 15%, or sixty-five prospects in my market. Using your system, within two weeks my calendar was booked for individual appointments with twenty-two prospects. We had to delay our mailing, as there were no appointment slots for weeks. I am very excited about our future and much of it has to do with you. I cant thank you enough. Make it a great day! John
  • 17. THE LAW OF THE BULL’S-EYE You’re on your way!