Utilizing LinkedIn for Business Prospecting

Utilizing LinkedIn for Business Prospecting
by Mike Dimitroff – July 2015

My sales philosophy: Better to go after the big fish than waste time fishing for minnows! Anyone can go to the local watering hole, cast a line, and catch small fish. But if LinkedIn is your fishing pole, businesses will be the big fish you are trying to catch.

[dropshadowbox align=”center” effect=”lifted-both” width=”550px” height=”” background_color=”#ffffff” border_width=”1″ border_color=”#dddddd” ]“It’s no secret that today’s business decision makers have greater control over the buying process. Three-fourths of B2B buyers use social media to educate themselves before making purchasing decisions and twice as many use LinkedIn to research purchasing decisions than any other social network.” ~ LinkedIn.com[/dropshadowbox]

If 75% of B2B buyers do social media research prior to buying, you can bet that business professionals preparing to make a large monetary commitment will run a background check on the seller–and that’s you!

First Impressions

People buy from people they like and often decide if they like you within the first few moments of contact. What will buyers think if they look on your LinkedIn profile with no picture? A photo helps prospects put a face to the person they’re talking to and helps develop familiarity.

Your story

Provide a short background story about yourself and list your job responsibilities. I recommend listing sales accomplishments since people are more likely to buy from people who are successful at what they do. They perceive that if other people are buying from you then you must be trustworthy. These may seem like nuances, but they will help build trust with your prospective buyer and trust ultimately leads to sales.

[dropshadowbox align=”right” effect=”lifted-both” width=”350px” height=”” background_color=”#ffffff” border_width=”1″ border_color=”#dddddd” ]”jesse salazarNew and different methods to contact decision makers are invaluable. LinkedIn is an effective, smart tool for prospecting new companies, identifying decision makers and increasing your network. Professional salespeople will definitely increase productivity, generate qualified leads, and have a higher closing ratio when using LinkedIn.” Jesse Salazar, Manager of Season Sales, Houston Rockets[/dropshadowbox]

No Off-Season

At the Houston Rockets, our motto is, “There is no off-season!” Although some sales reps choose this time to relax and take a break, this is the perfect time to build your sales pipeline. I spend most of the off-season business prospecting.

Prospecting

Prospects can come from oil & gas magazines, billboards on your drive into work, or simply searching under the “people you may know” tab on LinkedIn. With over 500+ connections, many are within my target industries of oil & gas, construction, & law firms. When you search for a new company on LinkedIn simply type in the company name and it should pop up under the drop down menu. Once you have your company selected you can begin to filter by city.

[dropshadowbox align=”right” effect=”lifted-both” width=”350px” height=”” background_color=”#ffffff” border_width=”1″ border_color=”#dddddd” ]rob“LinkedIn is an essential tool for staying connected to business professionals and a creative method to target companies. C-level executives are almost impossible to get on the phone. LinkedIn is just another way to get in front of decision makers in a competitive business environment where their time is limited to unique salespeople who they see as a resource to get them immediate results.” Rob Zuer, VP of Ticket Sales & Services, Denver Nuggets[/dropshadowbox]

Once you identify a company, contact one of the following from your search of their LinkedIn profiles: Business Development Manager, Marketing Manager or Executive Assistants to CEO. These are typically the people that either make decisions on purchasing season tickets or handle the distribution of tickets.

You make the call

Call the mainline of a company and ask directly for the person by name. I’ve seen sales reps call the mainline and use basic intro lines like this:

“Hi, this is Michael Dimitroff with the Houston Rockets. I was wondering if you could put me in contact with the person who handles season tickets purchases at your company.”

Gatekeepers are taught to screen such calls and you’ve just given them a layup! Instead, act confidently, as if you’ve already had a conversation with the person.  Ask using their first names (e.g., Rob, or Rob Zuer; not Mr. Zuer) to give the sense you are familiar with them. Once the gate keeper transfers you to the direct line…now it’s time to work your magic and catch the big fish!

CRM & Sales: Redefining Hustle

CRM & Sales: Redefining Hustle
by Erin Quigg – June 2015

Redefining “Hustle”

How do you measure a salesperson’s hustle? From an activity-based and CRM standpoint, is it the number of tracked phone calls, emails, and appointments in a week? What about LinkedIn InMail, Social Media, and text messaging? With the amount of different communication methods available now, does it matter what communication medium salespeople use as long as they are moving prospects through the pipeline and closing sales?

This past season we redesigned our Ticket Sales’ hustle metric by shifting the focus from activity-based performance to pipeline management. Our main objective was to let the reps sell the way that works best for them and their customers. To accomplish this objective, we wanted the reps to focus on advancing quality leads closer towards a sale, rather than hitting certain activity based quotas. Additionally, we wanted our reps to view and utilize CRM as a sales management tool and less like a simple correspondence tracking system.

Going from Quantity to Quality

[dropshadowbox align=”right” effect=”lifted-both” width=”395px” height=”” background_color=”#ffffff” border_width=”1″ border_color=”#dddddd” ]“Our new effectiveness metric has been transformational in refocusing sales reps on engaging high-quality customers and building out their pipeline rather than achieving phone call and other activity-based benchmarks.” – Jay Riola, Assistant Director of Business Strategy, Orlando Magic [/dropshadowbox]

Old Metrics:

  • Phone Calls
  • Completed Appointments
  • Referrals
  • Talk-time
  • Hand-written notes
    [dropshadowbox align=”right” effect=”lifted-both” width=”395px” height=”” background_color=”#ffffff” border_width=”1″ border_color=”#dddddd” ]There is a “direct correlation between effective pipeline management and strong revenue growth.” – Harvard Business Review, Companies with a Formal Sales Process Generate More Revenue[/dropshadowbox]

New Metrics:

  • Completed Appointments
  • Pipeline Growth through Personal Prospecting
  • Pipeline Advancement

How does it work?

  • Score – Each metric is weighted with a certain value. For example, a completed appointment is 25 points, a personally prospected sales opportunity is 2 extra points, and each positive movement through the pipeline is weighted by stage and product.
  • Competition – Weekly, the reps compete against one another to get the highest score. The reps are then ranked, top half are winners and bottom half are losers. Over a certain period of time, the reps keep a win-loss record and prizes are given for the top performers.

Conclusion

It’s been four months since we redesigned the hustle metric and already our sales reps are better at utilizing our CRM as a sales tool. They have even started asking for more data on how to streamline their sales efforts. The Ticket Sales management team has done a great job in assisting the sales team with pipeline management by leveraging our pipeline and appointment reports. Having leadership adopt and support this new philosophy has helped the implementation and success of the program measurements as a whole.

In the end, activities are still important because those interactions are how prospects are engaged, qualified, and moved through the sales funnel; but instead of being measured on how many calls a rep can make in a week, we measure our reps on how efficient they are in closing a sale and generating revenue, which is their main responsibility at the end of the day.

4 Keys to Social Selling

4 Keys to Social Selling
by Tim Salier – October 2014

Social selling has become increasingly prevalent in the professional sports sales environment.  For years, the concept of social media in the workplace has been associated with fears of misuse, poor time management and potential disclosure of proprietary information.  However, recent trends have shown that, when used appropriately, social media can be developed into a very effective sales tool.

In discussing the concept of social selling with several members of the Spurs Sports & Entertainment sales staff, four primary steps were identified in developing an effective social selling strategy:

  • Develop your brand/presence on social networks such as LinkedIn
  • Target the “right” prospects
  • Engage with identified prospects
  • Build trust and qualify the prospects

Develop your brand

Allen Schlesinger
Allen Schlesinger

According to Allen Schlesinger, Premium Sales Manager for the Austin Spurs, developing an appropriate personal brand on social networks such as LinkedIn is critical. An appropriate personal profile on LinkedIn should be completed with updated personal information, professional affiliations, an accurate description of your role with the franchise and, most importantly, a professional profile picture.

Target the “right” prospects

Julian Dais
Julian Dais

Both Allen and San Antonio Spurs Premium Account Executive, Julian Dais, agreed that having a strategy to target the “right” prospects is the key to being successful with social media tools such as LinkedIn. The “right” prospect has a unique combination of (1) decision making authority, (2) some sort of connectivity or interest to basketball designated on their profile and, preferably, (3) a shared connection to help with an introduction. Both shared similar thoughts that there isn’t a “perfect” prospect, but there are multiple factors to look for in searching for the people they would like to prospect.

Engage identified prospects

After identifying the appropriate prospects, the next step in effective social selling is engaging those prospects in a way that invites further discussion. Julian and Allen commented that the initial message should include a brief introduction, a reason for reaching out to them and an invitation for further discussion, usually face to face but by phone if necessary. The initial message should be no longer than a paragraph and emphasize the invitation to meet in person for further discussion.

Build trust (and qualify)

The last step in the process is building trust and further qualifying the new prospect to insure an effective face to face meeting. The trust building and qualifying process is usually very similar to a traditional sales call. Use general fact finding questions about past interactions with the team and/or a casual e-mail conversation about mutual personal or professional contacts. After some brief two way discussion and confirmation that the prospect is qualified, a mutually agreed upon meeting location is established and the social selling process commences.

Social = Sales

Over the last couple of seasons, both Allen and Julian have emerged as two of the more effective social sellers within Spurs Sports & Entertainment as well as their respective leagues and sales categories. In fact, Allen is widely recognized at NBA League meetings for his best practice usage of LinkedIn as a sales tool. Averaging approximately ten LinkedIn generated face to face meetings each week, Allen currently ranks as the #1 New FSE revenue producer in the NBA D-League and attributes 90%+ of his new revenue generation to social selling.


Cover photo source: Mark Smiciklas

 

Selling Collegiate Sports: Happy Customers = Sales

Selling Collegiate Sports: Happy Customers = Sales
by Bryce Killingsworth – May 2014

Collegiate ticket sales departments continue to expand. Some hired into these new sales positions have training in professional selling, while others may have worked their ways through college internships into the first open position that suits their aptitudes and attitudes. So, whether we are trained to sell or are just thrown into the fire, it’s always good to examine the fundamentals of adaptive selling–particularly in the collegiate setting. It all starts with creating connections.

Creating connections (prospecting)

sales funnelConsistently creating connections prevents sales slumps. Prospecting fills the funnel to prepare for the future.

In college sports, this aspect seems to be overlooked or at minimum on the bottom of the priority list. Hopefully you have a priority list.

Investing time and energy generating prospects reap the benefits of new business as you build relationships. A few primary ways we prospect at Oklahoma State include: Warm calls (not really cold calls with the data we have), asking for referrals, and networking at our athletic events.

 Analyzing needs (understanding customers)

Understanding customer behavior and preferences will improve customer satisfaction which in turn will increase retention rates. To sell, up-sell and cross-sell to multiple sports, use data to:

  1. identify when a customer places an order,
  2. how they pay,
  3. where they like to sit,
  4. where they are traveling from (residence), and
  5. other data collected that influences ticket purchases.

Consistent–systematic–contact helps inform them of packages and offers and to receive valuable feedback.

[dropshadowbox align=”right” effect=”lifted-both” width=”350px” height=”” background_color=”#ffffff” border_width=”1″ border_color=”#dddddd” ]Mike Wendling“The more information we have about our consumers the more ‘Surprise and Delight’ opportunities we can orchestrate. These unique touch points show our fans that we care more about them than their check book.” – Mike Wendling, Director of Ticketing Analytics, @WendlingMike[/dropshadowbox]A simple tool our Director of Analytics utilizes to help understand customer needs is by asking a couple of questions when the customer creates an online account with us. For example: Which sports are you interested in? Are you interested in Suite, Club, or Stadium seating? Being creative is imperative at a university as you may be operating with limited funds.

 Addressing customer needs (proposing solutions)

How you address needs can make or break a sale. Remember, you are a problem-solver, there to help make their lives better.

Briefly describe one or more solutions of product, service, or combination of both to offer the customer. Proposing an unknown or unsought, but valuable, solution creates loyal followers. Examples include:

  • [dropshadowbox align=”right” effect=”lifted-both” width=”350px” height=”” background_color=”#ffffff” border_width=”1″ border_color=”#dddddd” ]jess martin“Customer service is not just a skill set; it’s a culture that is contagious when you hire the right type of people. In today’s competitive world, fans desire to do repeat business with organizations that they trust and are comfortable with. Having a great customer service culture in place gives you a definite competitive advantage at earning and keeping their business.” — Jesse Martin, Senior Associate Athletic Director, Oklahoma State University, @JesseMartinOSU[/dropshadowbox]payment plans for a young family,
  • aisle seats for a tall person,
  • top row of the section below the concourse for an elder with knee problems,
  • suite for a company who now realizes the benefits of entertaining clients, and
  • placing customers in a seating section (e.g., West end zone area) to avoid the sun.

Discussing benefits

One of the primary benefits of a season ticket holder is social distinction. Season ticket holders enjoy feeling that sense of a community among fans, but also enjoy recognition as a member of an exclusive group. Creating limited discounts and perks among only the season ticket holder community is vital in order to prove it’s more beneficial to pony up for the entire season.

Utilizing data to identify specific types of benefits to engage season ticket holders may be the deciding factor in closing a sale. It could be exclusive access, memorable experiences, or valuable savings that enhance the value of season tickets. If you have the data to know that Bob buys 4 hot-dogs for his family per game, Bob will most likely appreciate a 30% off concessions discount compared to 10% off apparel at the stadium store.

Overcoming objections

real time sales tracking food & beverage merchandise
Real time sales tracking

In overcoming an objection focus on:

  1. empathizing,
  2. transparency, and
  3. appreciation.

Most customer problems can be readily handled if we actively listening and identify the customers concern. Remaining honest, transparent and open goes a long way.

If you think about it, objections come from customers who want your product. If they didn’t, they wouldn’t waste time explaining. If you’re honest about the best you can do with seating, pricing, etc., more times than not the customer will accept your best option–if they trust you.

To retain customers and gain referrals, show appreciation to customers and even former customers. By responding to the drop in business with nothing but respect and understanding, you create a pleasant experience resulting in valued word-of-mouth. Even without the expected ROI, appreciate them because you’re a professional.

Establishing & maintaining relationships

One of the primary reasons a customer intentionally desires a relationship with you is because you have become a treasured resource.

Maintaining a relationship and becoming a resource begins with consistency and reliability:

  1. Return phone calls,
  2. Follow up on a deadline,
  3. Be available at times the customer needs you,
  4. Ask customers for feedback, and
  5. Picking up the phone.

Asking for feedback with a purpose speaks volumes about your commitment to the service you provide, and how you can better the customer experience.

Pick up the phone. Not just to answer an incoming call. Pick up the phone and call your customers.  You’re a robot to them until you provide some personal connection. And it’s difficult to become loyal to a robot…unless your name is Siri.