What are the three most common mistakes BNI members make every week?
Ever hear I don’t get referrals from BNI?
Here are 3 of the most common reasons WHY?
1- They don’t network – The first fifteen minutes of a BNI meeting is meant for networking, it’s not a buffer to get there late. Because the meeting starts fifteen minutes after the start time people think that is the time which allows me to get there late. Wrong, this is the time to network and set up one to ones and start creating relationships. It’s not the time to answer emails. I was at a meeting the other day and one of the members was sitting with his computer and answering emails. He was not talking to anyone and when asked a question he said “I’m too busy”. When you come to BNI, be prepared to ONLY work on BNI.
2- They sell not educate – The goal of your BNI meeting is to educate your sales team so you can tickle their brain to create referrals. You’re telling them who would be a good referral, why and what you can do for them. Don’t stand in front of everyone and try and sell the people in the room your services, they will buy from you after you’ve build a great relationship. You get to see them every week and at 1-to-1’s, they’re not going anywhere. Everyone knows 250 to 300 contacts, you just need to figure out how to make 1 of those stick out. Your fellow BNI members are your sales team and the more you treat them that way the more referrals you will obtain.
3- 1-to-1’s – These seem to be a foreign subject t some members. In order to create referrals, you need to develop strong relationships with your sales team. The better the relationship, the better the referral. Good referrals are in direct correlation to relationships. The stronger the relationship is, the more often you are thought of by your referral partners. The more you are on their mind, guess what…MORE REFERRALS!
STOP SAYING I AM NOT GETTING REFERRALS, because it’s all YOUR FAULT. You’re not emerged in the basic concepts of referral marketing. You have to network, educate and develop strong relationships to make it happen.
Duane Plapp is a professional business coach with The Referral Institute Cincinnati. Duane can help you create “Referrals For Life”. If you’re interested in learning more about referral marketing you can contact Duane at duper2947@aol.com or 859-240-6428
How ‘bout them Giants? This is the most exciting week all year for baseball. For those of you less familiar with baseball, we’re talking about the riveting end to the months-long baseball season: the World Series. As many of us know, baseball is a game of numbers more so than any other sport—batting averages, on-base percentages, error rates, etc. In addition, managers’ decision-making is driven by statistics and probabilities.
As you look at closing out your season, where will you finish? Right now, most of us have a laser focus on year-end numbers and are pushing for a strong finish. Typically our focus is on chasing new customers and bringing new business in the door. And while you absolutely need to keep your foot on the gas, it is most critical to know your numbers and follow the money. Where’s your revenue coming from and who’s buying your products and services? Being in tune with these questions and following the money can be an incredibly effective approach in order to ensure a strong close to your year and to build momentum going into the next. Here are three strategies to help you.
Lock in Loyalty
Customers want to feel valued and one of the simplest ways to accomplish this is to visit or call your top clients and find out how you’re doing. Get straight to the point and ask, “How are we doing?” There can be no other motives or agendas when you have this conversation, and it only works if you’re genuinely focused on how you are meeting the customer’s needs. When you make time to really listen and learn from customers, you’ll reap the benefits in more ways than one: you’ll gain valuable insight and it will allow you to evaluate what’s working and how what you sell translates into real value for your customers. More importantly, if your customer is less than satisfied, you’ll have the information and can resolve the issue. Sometimes what matters most is how you handle problems. The most important thing is to preserve the customer relationship—after all, it’s more expensive to lose a customer than to gain one.
Uncover Hidden Gems
During Q4, clients often have unused funds available, and sometimes these unexpected opportunities can make or break your year. Conversations with your clients may uncover hidden gems—new business ideas or leads that you were unaware of—or even plant seeds for solutions for the coming year. The key is to have the right intent and to truly play the role of advisor. Be prepared with new information—conversations that spark new thinking with customers require you to bring something to the table. Share stories about how you’ve helped customers, and keep it focused on benefits and value. Or be ready to discuss new data or research that you’ve found.
Get Strong Referrals
A customer referral is like gold. It carries heavy weight when your customers are making introductions for you. If your goal is a strong end-of-year finish, focus on finding these to move the needle on sales. If you’ve taken good care of your customers, they will be happy to refer you, but you have to ask them: “Do you know anyone who can benefit from our products and services?” In general, people want to help others, so don’t be afraid to ask. Also, be sure to make it as effortless as possible for your customers to give you referrals! Offer to write a sample email that they can tweak and easily send out.
How often should you ask for referrals? Once per quarter is the rule of thumb. In the meantime, stay top-of-mind with your customers by sharing blogs, status updates in LinkedIn, or email newsletters. These may prompt the customer to think of you and proactively share referrals. And one of the best ways to get a steady stream of referrals is to incent them. Consider sending personalized thank you notes or gifts or even providing a referral fee which can be a set dollar amount or a percentage of your deal.
While these practices should actually be implemented throughout the year, most of us analyze our numbers at the end of the year or at times that we have set aside for planning. There’s no better time than now, in the homestretch, to look at your numbers and know where your business is coming from. This is the time to play smart.
Amy Fox is the President of Accelerated Business Results, need help getting your sales to the next level, CALL AMY! 513.563.3585
Matt Plapp - Cincinnati & Northern Kentucky Marketing & Social Media Consultant
By Matt Plapp
For 8 years I worked in advertising and marketing sales. It was a grind and it meant lots of cold calling and knocking on doors. The first job in radio I had was in Cincinnati with WGRR Oldies 103.5. I quickly realized I was in the field I was meant to be working in, marketing. I loved helping small business owners create ideas that drove sales and profits, AND fit into their budget. The 1 thing that drove me crazy though was how CRAPPY business owners were when it came to talking to me on the phone, setting and keeping appointments and having a genuine interest in listening to someone about their business. They had this “I know everything” mentality, especially their ad agencies.
Then after 4+ years at WGRR I decided to run the business that my brother, father and I started a few years prior, a retail Boat & RV dealership So I was now that business owner, and I made a pact to my friends in media that I would listen and not be the guy we had all called on. I quickly found out how tough it was to keep up, the phone rang off the hook from sales people in every industry. Someone always had something that was the next best product or the best marketing platform. It was tough, BUT I LISTENED. And it was amazing to sit back a few years ago and look at all the great products we sold that we never would have had the chance if a sales person had not done their job. YES, the credit goes to the sales person for hammering me for a meeting and then showing me WHY to do business with them.
A few weeks ago there was an article in the local business paper about Cappel’s Costumes ( a Cincinnati Business) that talked about how they got into the Halloween Costume business. The owner talked about back a long time ago when a sales person /buyer kept hammering them to put Halloween Masks in their store. They finally put 8 masks in the store (after I’m sure MANY phone calls) and guess what happened….IT WORKED! Today Cappel’s is mainly known for their Halloween business. There is a lot of credit owed to that sales person, Cappel’s as we know it today, may not exist had that buyer from Chicago not done their job.
This is why all business owners and marketing directors owe much of the credit to the sales people that help bring you new ideas and products.
So, I challenge you to look at your business, your sales, your product and your marketing and see who you owe credit to for helping you build your business into what it is today. And then return phone calls and keep appointments with the sales reps that are calling on you. You never know which phone call will have the next idea to make you a few more million$$$
Matt Plapp is a Marketing Consultant in the Cincinnati Northern Kentucky area specializing in small business marketing via grass-roots, events, guerilla, online and social media marketing. You can contact him at matt@mattplapp.wpengine.com
Surprisingly, giving up the position of sales representative has been far more difficult than you anticipated. How do you let go of your former responsibilities and forge a good relationship with the new hire?
1. Be realistic.
This new salesperson is neither owner nor president. They aren’t taking over the company; they’re assuming your responsibilities in one key area only. They are an employee who comes to work each day.
Yes, you can and should expect them to work hard and show loyalty to the organization. If you’ve hired a money-motivated sales representative, they will come in early and stay late to get deals closed.
They won’t necessarily share your level of passion. They have neither the financial nor the emotional investment you’ve made in the organization. Avoid disappointment by adjusting your expectations for the new salesperson.
2. Set goals.
Forget about what you might have accomplished in a fiscal year from a sales perspective. Think about what’s reasonable to expect from your new sales representative in their first year with the organization.
Talk to peers and advisors, executives at your company and the salesperson. Set minimum standards for their productivity. As an example:
Sales Goals
Sales activity
Q1
Q2
Appointments
12
36
Product Demos
8
24
Proposals
4
12
Closed Sales
2
6
If the goals prove to be too easy or too aggressive, make adjustments periodically. Do everything you can to help the sales rep hit these targets.
3. Don’t hog all the large accounts.
Whether it’s ego (“no one else knows what Account XYZ needs but me”) or fear (“if we lose that account it could be disastrous”), many company presidents continue to act as the sales representative for the largest accounts. With a few accounts it might make sense. But in the majority of cases, you should be turning these customers over to the new sales representative.
It’s normal to be apprehensive about trusting someone else to call on these valued clients. To ease your nerves, accompany the new salesperson on the first few calls and then hand them the reigns when you feel they are ready. Check in with the customer from time to time to ensure that everything is going well.
But do turn most of the accounts over. As president, you should be acting as the ambassador of your company and networking at the peer level. It’s not the best use of your time to remain involved in all of the day-to-day selling.
4. Meet, but don’t compete.
Resist the urge to compare their progress with yours. (“You’ve only closed two accounts since you’ve been here? When I started the company, I closed five accounts in the first month alone.”)
Conversations like these demoralize salespeople. Given the product knowledge and industry contacts you might have had before starting the company, they may never be able to top your early successes.
Instead of starting a rivalry, establish yourself as a mentor for the new salesperson. Call or stop by and ask them how their day is going. Inquire about the progress they’re making with a new prospect. Offer support and advice if they’re struggling to set an appointment or close a sale with a particular company.
In the early days, you handled finance, production, shipping and marketing. Oh, yes — you were the lone salesperson, too. All of this went along with the title of president.
As the company grew, you hired people to replace you in areas like marketing and finance. Through all the personnel changes, though, you continued in the role of sales representative.
Recently, you hired the company’s first dedicated sales representative. Employees and members of your executive roundtable group encouraged you to do so — and, though reluctant, deep down you knew it was the right move.
As the leader of the company, the salesperson knows that you know what you’re talking about from a product and market standpoint. Share your considerable industry expertise with them in a constructive way that works for you both.
The new salesperson knows they are replacing you in a sales capacity. Understandably, they’ll be somewhat uneasy about this. Give the salesperson all the assistance, praise, constructive criticism and information possible. They will appreciate the effort to help them succeed and pay you back with solid sales production.
Matt Plapp - Cincinnati & Northern Kentucky Marketing & Social Media Consultant
By Matt Plapp
Remember as a kid when your mom asked the question “would you jump off a bridge if your friends did it?” You usually got this when you did something stupid that you typically would not have done had you thought about your decision first.
Well this is no different in running your business. I just returned from a client’s trade show that reminded me of this scenario the entire time I was there. The show is the Fall Market in High Point North Carolina. It’s the largest furniture show in the world (but apparently not judged on sales or attendance). This show has been going on for many years and approx 10 years ago resulted in HUGE sales figures for furniture manufacturers who were on-site. This event happens twice per year for 1 week each time. The floor space sold in this show is 1.1 million square feet. This show is gigantic when it comes to manufacturers and vendors displaying their product, BUT it’s missing 1 key element…BUYERS!
I spent half the show exploring the show during the “Peak Time” and no matter where I went there were not customers. At one point I was leaving the main building where I was told everyone would be during the middle of the day and as I was leaving I attempted to be polite and hold the door for anyone behind me. When I turned to look, there was NO ONE behind me. I was amazed. At this point I stopped and looked and at a show which has THOUSANDS of companies displaying there were less than 100 people at the #1 location of the show at 3pm on a Saturday!
What does this mean for you? I’m talking about companies that continue to market their businesses where the ROI doesn’t exist. This show is not working. The answer to why most companies display there is pretty simple, they are afraid of not being there and customers seeing their competitors. FEAR is the easiest way to sell or convince someone to buy something. My question is “What customers are you afraid to miss?” Sometimes you have to take a risk and do something different. You need to NOT jump off the bridge OVER and OVER and OVER with your friends. You need to step outside of your comfort zone and market your business different. You need to build a rope ladder and climb down the bridge. Ask yourself this question, are you doing something in your business that you know is “jumping off the bridge” and if so what are you doing to change it. DO IT TODAY! Make a tough decision and outsmart your competitors. Be the first, not to the last to jump!
Needless to say I’m looking forward to my next few meetings with my client. I know we can do something that will get the attention of the customers who DON’T visit this show anymore and we can stop “jumping off the bridge.”
Matt Plapp is a Marketing Consultant in the Cincinnati Northern Kentucky area specializing in small business marketing via grass-roots, events, guerilla, online and social media marketing. You can contact him at matt@mattplapp.wpengine.com
Doug Smith - Cincinnati Radio Marketing Consultant
By Doug Smith
Last week, on my way home from work, my wife called me and wanted me to run by the store to pick up toothpaste and bread. (Yeah, I thought it was a weird combination as well)I was amazed at how many different brands of toothpaste are on the market. I stood there trying to digest all of the options until I finally grabbed a tube of Crest Mint Gel and headed towards the bread, where it wasn’t any better. There were low calorie breads, breads with vitamins, breads with iron, breads for kids, wheat bread, whole grain bread, and…..well, you get the point. I grabbed a loaf of Wonderbread and made my way to the register to check out.
With all of the options available, why did I choose Crest and Wonderbread?
I’m sure some of the other toothpaste options would do a good job and some other kind of bread would taste good, but when I was faced with too many choices I went with what I knew. (I bet you can think of a situation where you did the same thing)
Think about your business. I’m sure you have multiple competitors. What are you doing to make sure you are the one chosen when a prospective customer is ready to buy? Are you only targeting the prospective customers who are closest to purchase or are you making the effort to reach the larger pool of potential customers who are NOT yet in the market for your product/service? Do you want your potential customers staring at five or six options and hoping they choose you, or do you want to be the one they think of first when they need your product or service?
If you are not consistently telling your prospective customers who you are and how they can benefit by doing business with you, you risk losing them to your competition. By putting together a well thought out marketing strategy and sticking to it month after month, you increase your brand awareness and thus increase your odds of standing out from the competition, which will lead to increased sales.
Doug Smith is a Senior Account Executive for WREW Rewind 94.9 in Cincinnati & Northern Kentucky. Doug can help you with any radio advertising, event promotions, online coupons and other online marketing. You can contact Doug at (513) 535-9123 or dosmith@hubbardinteractive.com
Matt Plapp - Cincinnati & Northern Kentucky Marketing & Social Media Consultant
Why do companies teach cold calling and not referral marketing?
I have worked for 2 broadcasting companies in my professional career and all they EVER talked about was cold calling, the #’s of calls made, call reports, BLAH BLAH BLAH. They never focused on quality, just raw numbers. I always did a great job for my customers and had many loyal customers. But I never received referrals from anyone. I always heard the speakers at sales seminars talk about asking for referrals, but it all seemed to be the big mystery for me. Instead we were told about the great results the other sales people got from COLD CALLING. It was a numbers game I was told, you call 100 to get 5 meetings and close 2 deals.
Then in the fall of 2008 a close friend of mine, Brennan Scanlon, starting talking to me about referral marketing and how to sell without cold calling. I honestly thought he was out of his mind. I had heard of this mystery thing called a “referral” for many years. I had seen many referrals in our retail business, but I had never had much luck with B-2-B sales referrals. Brennan introduced me to BNI (Business Network International). I joined a chapter and attended the meetings, but still nothing. Then after about 2 months Brennan took me under his wing and started mentoring me about being a GREAT Referral Partner. We started attending referral marketing classes hosted by The Referral Institute of Cincinnati and within a month I had a plan and training on how to GIVE referrals, how to educate referral sources, how to motivate my referral sources and how to create a target market (for referral marketing). Everything I had learned had nothing to do with getting referrals for me, rather how to help others. I was encouraged to get involved with charities, alumni associations and chambers to GIVE to others. I was taught if I gave to everyone else first, I would eventually get it back times ten!
I started doing all of it. I was volunteering, I was passing high level referrals and taking referral partners on meetings with me and promoting them in my marketing. I was doing whatever I could to help professionals who were in my target market. These were people who called on the same level of decision makers I did. I was helping them grow their business and guess what happened…IT WORKED.
Within 60 days my phone was ringing. These same people were now giving me referrals, HIGH LEVEL referrals. Many closed deals. All I had to do was show up and be the great marketing person they had told their clients about. It’s been almost 2 years now since I’ve made depended on cold calls for appointments. I’ve made less than 5-6 cold calls in the past years, and my business is through the roof. In fact I’ve not called anyone but my clients, friends and referral partners in 3 months. No more dealing with business owners who don’t appreciate what you have to offer, no more 100 calls for 5 appointments. Now I make 5 calls and get 5 appointments and close 4 deals.
WHY is this not taught instead of cold calling? Since I’ve started my referral marketing plan I have TRIED VERY HARD to include some of my former colleagues in broadcasting. I’ve hand delivered numerous closed deals to them. Guess what they say, “Thanks for the lead”!!!! What, lead, that’s a closed piece of business. That’s called a REFERRAL and you shouldn’t be thanking me, you should be trying to find a way to get me a great referral. Because if we are both happy, then we both will keep giving each other referrals and everyone can stop cold calling. But if we don’t help each other, one of us will get sick of helping the other and move on.
But the sad part is NONE of them understand it. Just like many other professionals, they are so focused on making money for themselves that they don’t make time to help others. They are hammered by sales managers that cold calling is the way to go. I don’t fault most of them, but the system that most companies put in place. Most sales managers just don’t get it and in turn their sales people waste ¾’s of their week on useless worn out sales practices. The sales managers think they have great relationships with past clients. They typically don’t, they have long term clients because of their products and service but many of them will turn on a dime when price becomes an issue or someone comes along who talks faster.
WHEN ARE THEY GOING TO WAKE UP?
STOP TEACHING COLD CALLING!
Not sold on not cold calling? I receive 3-5 referrals per week. I have personally earned over $100,000 in the past 12 months off referrals. It’s changed my life. My customers are more loyal, the retention is much higher than I’ve ever experienced and I spend 90% of my time building my business instead of on a phone at a desk.
It took me 12 years to understand and a “Sales Intervention” by Brennan. I can’t wait for the next 30 years of referrals! The question is when will you realize it? Maybe we need a class in college for referral marketing?
Matt Plapp is a Marketing Consultant in the Cincinnati Northern Kentucky area specializing in small business marketing via grass-roots, events, guerilla, online and social media marketing. You can contact him at matt@mattplapp.wpengine.com
There’s more than one route to entrepreneurship, and a Michigan transplant to Cincinnati has started his own business by helping others launch theirs.
Darian Richardson opened RMC Franchise Connect last fall. Richardson helps others find a franchise that best suits their financial and life goals and matches their personal interests. Located downtown, RMC offers a variety of free services for those looking to go in business for themselves, but wanting to work with an established brand to help them along.
“I like to say with a franchise you’re in business for yourself, but not by yourself,” Richardson said.
He decided to start RMC after working for a company that produced marketing pieces for large corporations. Richardson worked with franchises, which got him interested in the business. His former company Valassis, transferred him from Michigan to Cincinnati to work on a new venture, Promotion Execution Partners (PEP), a promotional management company.
He’d long had an itch to start his own franchise-related business and after several years at PEP decided to go out on his own. He has one other employee, a marketing director.
“A lot of people asked me why I wanted to start a business in this economy, but I said it was the perfect time to start a business. A lot of people are looking for their next opportunity,” Richardson said.
Among services he offers are profile analyses that best match an individual with a franchise. RMC can also access a person’s skill set, and matches his or her with a compactable franchise opportunity, Richardson said. He can also help people through the franchise process.
“Everyone has their own goals and needs. We do the leg work and provide them with options,” he said. “It really cuts down on the time and money they would need to do it by themselves.
Richardson is paid a commission by the franchise once he helps someone become an owner.
Though most people think of getting into the restaurant business through franchise, the world has opened way beyond food, he said. Among businesses franchisees can get into are health and beauty, home care, lodging, retail, pet care, sports, decorating, coffee shops and even urgent care.
RMC will be launching his Franchise Connect Spotlight series 6:30 p.m., Oct. 13 at his office (The McAlpin Building, 15 West 4th Street) for people who want to find out more about buying their own business. A representative from Liberty Tax, a fast-growing tax preparation company, is among the planned speakers. The cost is $10. RSVP to info@rmcfranchiseconnect.com by October 10.
In early August I wrote a blog titled “Stop Cold Calling, Referral Marketing Part 1”. We talked about the need for you to create a Referral Marketing Plan and how to identify your target market. So now that you have a target market, now you need a hook.
We have to create an emotional based message so when people are out looking for referrals for you, they can identify who is a good referral and your name comes to mind. I hear all the time “why did you not refer them to me?” well “I never thought of you “. You have to tickle their brain.
If you want people to remember you then you have to give them something that when they see your potential client the alarm goes off and your name is in the forefront of their brain. Does this make sense? If you watch TV, it is done by every advertiser. They are trying to do the same thing getting you to remember their product or service when the commercial is over. Just think of all the products you remember when a certain stimulus is presented (The Geico song, Aflac duck, the target for Target stores and on and on, the Alka Seltzer song). Major advertisers do this all the time. So if we are going to develop a referral business why not copy the pros.
Your question next is “How do I do that”? Your EBM should be something which you have a passion for and something that directly tells people the main benefit of doing business with you. Many times you say It all the time when you get in the zone or when you a talking with your clients. What basic need do you satisfy. I was coaching a Referral Institute student last week and he asked “how do create the EBM?”. We were discussing his business and I asked him what goal are you trying to achieve when you discuss your clients financial situation? He said they always want to know “Where’s my check going to come from”. Wow, that’s a powerful statement and a pretty good EBM. I told him that he just found his EBM. I help clients discover where the check is going to come from, that’s what I do and when you tell people that, they’ll say “How do you do that?” And now you have a conversation. Isn’t it great? Just evaluate what you do and why you do it.
Why are you in business?
Who are your clients?
What do you sell?
How well do you compete?
Why do people buy from you?
How do you identify my referral partners and how do I develop strong relationships? Part III next.
Second you have to communicate with the people you want to get referrals from. You need make them aware of who you are and who is a good referral for you and find out who is a good referral for them.
Duane Plapp is a professional business coach with The Referral Institute Cincinnati. Duane can help you create “Referrals For Life”. If you’re interested in learning more about referral marketing you can contact Duane at duper2947@aol.com or 859-240-6428
Doug Smith - Cincinnati Radio Marketing Consultant
The average American comes into contact with over 5,000 advertising messages every day. If you subtract out 7 hours for sleep, that leaves 17 hours of available advertising contact time. That means the average American comes into contact with 294 advertising messages every hour.
An advertising message isn’t just a radio or television commercial, a newspaper ad, or a billboard you pass on the highway. Every time you open your refrigerator or your pantry, get online, drive past a business sign, open your medicine cabinet in your bathroom, or take a shower you come in contact with a form of advertising by simply looking at the products right in front of your face. If you see a logo, you are seeing a form of advertising.
Now, when you factor in radio, television, newspaper, magazine, and billboards you can see how that 5,000 number is believable.
So, how do get your message across? You need to make your advertising memorable and you do that by becoming relevant to your customers and potential customers.
“15 minutes could save you 15%” is how Geico made their name and because they are one of the biggest advertisers in the country, chances are good you have heard that line more than once. The characters they use in their advertising are cute, but their tag line tackles two issues that are relevant to nearly every person……it doesn’t take a lot of time to save money.
Have you seen or heard an ad for OnStar, General Motors in-vehicle security, communications, and diagnostic system? They use real life situations, such as locking yourself out of your car or being involved in a car accident, to showcase their product.
Geico and OnStar don’t waste time talking about themselves, instead they focus on how you will benefit by doing business with them.
The great thing is you don’t have to be a Fortune 500 company to take this approach. All you do is determine the need that your product/service fills and make that the focal point of your advertising. Geico could save you 15% in 15 minutes…..OnStar could save your life by contacting emergency personnel if you are in a car accident and unable to make the call yourself.
What need does your product/service fill?
Answer that question and you are on your way to becoming memorable. Remember, you are battling over 5,000 competitors every day for a spot in the brain of your customers. The odds are agains’t you unless you put in the effort to become memorable.
Doug Smith is a Senior Account Executive for WREW Rewind 94.9 in Cincinnati & Northern Kentucky. You can contact Doug at (513) 535-9123 ordosmith@hubbardinteractive.com
Locally launched RMC Franchise links franchises, business owners