Tag: ryan snow

Building a Rock-Solid Sales Pipeline: The Roadmap to Consistent Sales Growth

Posted on May 25, 2023 by - Sales, Sales Management

Want to make sure your sales team doesn’t fall flat on their face? The lifeblood of any successful business isn’t just about sealing deals left and right. It’s about building a robust sales pipeline.

That’s right! We’re talking about that one comprehensive system filled with high-quality leads and prospects, pushing your business toward long-term success. So, let’s dive right in, shall we?

What’s This “Sales Pipeline” Talk All About?

In a nutshell, a sales pipeline is your ticket to understanding your sales process. It’s like a roadmap, guiding you through each stage of the buyer’s journey.

From lead generation to closing the deal, it’s all there. Sounds straightforward, doesn’t it? But here’s the catch: building a sales pipeline isn’t a set-and-forget task. It needs regular reviews and updates.

Why Regularly Reviewing and Updating Your Sales Pipeline is Your Secret Weapon?

Okay folks, here’s a hard truth we all need to digest. The business world is ever-changing. It’s like a wild river, always in flux. Customer needs shift, markets fluctuate, and competition gets fiercer by the minute. But you know what? This isn’t a cause for panic. Not if you’ve got a strong, up-to-date sales pipeline by your side.

Now, you might be wondering, “Why all this fuss about regularly reviewing and updating my sales pipeline?” Well, let me spell it out for you.

Your sales pipeline is the heart of your business. It’s what keeps your sales process ticking. But like any healthy heart, it needs regular check-ups. That’s where reviewing and updating come into play. And believe me, the benefits are worth their weight in gold.

  1. Sustainable Business Growth: With an updated sales pipeline, you’re no longer shooting in the dark. You can pinpoint exactly where your opportunities lie and seize them. This doesn’t just fuel your present sales but also paves the way for consistent, long-term growth.
  2. Efficient Team Performance: An organized, clear sales pipeline means your team isn’t wasting time on lukewarm leads. They know who to pursue, how, and when. It’s like having a high-powered GPS for your team, leading them straight to sales success.
  3. Enhanced Customer Experience: When your pipeline is up-to-date, you know what your customers want, and when they want it. You’re not just meeting expectations; you’re exceeding them. Result? Delighted customers who’ll keep coming back for more.
  4. Unbeatable Competitive Edge: With a regularly reviewed sales pipeline, you’re always a step ahead. You can adapt to market changes faster, meet evolving needs better, and outshine your competition every single time.

So, don’t just build a sales pipeline; nurture it, update it, and make it a part of your business’s DNA. Remember, it’s not just about keeping your pipeline current; it’s about ensuring it’s bursting with high-quality leads and prospects – the ones that convert into loyal customers.

Just think of the immense possibilities when every lead in your pipeline has the potential to boost your sales, motivate your team, and wow your customers! That’s the power of a well-maintained sales pipeline.

So, pull up your socks and get down to business. It’s time to make your sales pipeline the ace up your sleeve! In the grand scheme of things, you’ll see that this, my friend, is not just a strategy – it’s the lifeline your business needs for monumental success.

So, How Do We Build This Powerhouse Sales Pipeline?

Glad you asked! It’s not as daunting as it seems, promise. Let’s break it down.

Step 1: Understand Your Buyer’s Journey

Imagine walking a mile in your customer’s shoes. Picture what they’re seeking and why they need it. Are they looking for a solution to a problem or an upgrade to their current situation? Every sale begins with understanding these finer details about the customer.

Here’s how you can do it:

  1. Carry out Customer Surveys: Ask your existing customers about their experiences. What attracted them to your product or service? What factors influenced their decision? Tools such as Google Forms or SurveyMonkey.
  2. Use Customer Analytics: Review your customer data. Look for patterns. Analyze purchasing behavior, interactions with your business, and feedback.
  3. Create Buyer Personas: Develop detailed profiles of your ideal customers. Include demographic info, interests, behaviors, and goals.

Understanding the answers to these queries can help you plot out the buyer’s journey. This journey, my friend, is the backbone of your sales pipeline.

Step 2: Define Your Sales Stages

Once you’ve got the lowdown on your buyer’s journey, it’s time to mirror this understanding into the stages of your sales. These stages act as a reflection of your buyer’s journey.

Here’s how you go about defining them:

  1. Lead Generation: This is where potential customers first interact with your business. How do they find you? Is it through online searches, referrals, or advertisements?
  2. Lead Qualification: Not every lead is a potential sale. How do you distinguish between a cold lead and a hot prospect? Are they a fit for your product or service? Do they have the intent and capacity to buy?
  3. Proposal/Demonstration: This is where you present your solution to the lead. How do you tailor your pitch or demo to fit their needs?
  4. Negotiation/Objections Handling: Not all leads will immediately accept your proposal. How do you handle objections and negotiate terms?
  5. Closure: The final stage is where the lead becomes a customer. What steps do you take to close the sale, and how do you ensure customer satisfaction?

Each stage represents a step in your customer’s journey.

Step 3: Identify Key Actions at Each Stage

Now, this is where the magic happens. Each sales stage calls for specific actions that move leads closer to the sale. Whether it’s making a call, sending an email, or arranging a demo, these actions are your weapons for conquering each stage.

Define these actions clearly. For instance:

  1. Email Templates: Design templates for introductory emails, follow-ups, or responses to queries. Make them personal and engaging.
  2. Call Scripts: Prepare scripts for cold calls or follow-up conversations. Keep them concise and targeted.
  3. Demo Structures: Develop a structured demo or presentation format. Highlight your product’s features and how it meets the customer’s needs.

Step 4: Measure and Monitor

Alright, you’ve built your pipeline. Great job! But remember what we said about regular reviews and updates? Here’s where measurement comes into play.

  1. Track Sales Metrics: Keep an eye on your sales metrics. How many leads are at each stage? What’s the conversion rate? Are there any stages where leads are dropping off?
  2. Identify Bottlenecks: Use these metrics to identify bottlenecks in your sales process. Are there stages that take longer to move through? Are there steps where leads often drop off?
  3. Make Necessary Adjustments: Use these insights to refine your sales pipeline. Maybe you need to improve your call script or demo. Maybe you need to refine your lead qualification process.

Final Thoughts: Embrace Sales Management for Sales Growth

Remember, it’s a never-ending process, but trust me, it’s worth it. Perhaps you’re thinking, “That’s a lot of work!” Well, yes, it can be. But the beauty of this process lies in its flexibility and adaptability.

By consistently measuring and monitoring, you can fine-tune your approach, identify gaps, and resolve issues before they balloon into significant problems.

In this constantly changing business landscape, your pipeline needs to be as agile as your approach. So, embrace the process, roll with the punches, and never stop refining and optimizing your sales pipeline. In the end, this meticulous attention to detail can drive your sales growth and place you a cut above the rest. And let’s be honest, who doesn’t want that?

Happy selling, folks! Keep refining, keep growing, and remember – your sales pipeline is more than just a strategy; it’s the roadmap to your business’s success!

Additional Reading:
Hitting Your Goals with The 5 G’s of Goal Setting

Instagram for Real Estate: 9 Tips to Boost Your Leads and Sales Revenue

Posted on May 7, 2023 by - Real Estate

Are you a real estate agent tired of making the same silly mistakes on Instagram? Are you ready to step up your game and start crushing it on the ‘gram? Well, you’re in luck because I’m about to share some tips that will help you increase leads and sales revenue – and avoid looking like a total Instagram newbie.

1.) Stop posting terrible photos and start showcasing your properties like a pro.

We get it, you’re not a professional photographer, but that’s no excuse for posting terrible photos of your listings. Blurry, dark, and cluttered images aren’t going to attract potential buyers – they’re going to make them scroll right past your post. Invest in a good camera or hire a professional photographer to help you showcase your properties like a pro.

2.) Quit using lame captions and start writing copy that converts.

Captions can make or break your post, so stop using lame captions like “Check out this amazing property” or “New listing alert.” Instead, write copy that’s creative, informative, and persuasive. Use humor, tell a story, and give potential buyers a reason to reach out to you. And, for the love of all things holy, proofread your captions before you hit “post.”

3.) Ditch the boring property tours and start sharing behind-the-scenes stories.

We’ve all seen those boring property tour videos where the agent walks through the house and tells us what we can already see. Yawn. Instead, use Instagram Stories to share behind-the-scenes stories of your real estate business. Show potential buyers what it’s like to work with you, give them a glimpse into your personality, and build trust with them.

4.) Lose the irrelevant hashtags and start using ones that matter.

Hashtags can help your posts reach a larger audience, but only if you’re using the right ones. Stop using irrelevant hashtags like #forsale or #realtor, and start using ones that are specific to your property, location, or target audience. Do some research and find out which hashtags your potential buyers are using, and use them in your posts.

5.) Say goodbye to cheesy stock photos and start collaborating with local influencers.

We all know that cheesy stock photo of the smiling couple holding hands in front of their new home. It’s time to say goodbye to that and start collaborating with local influencers. Find influencers in your area who align with your brand and target audience, and partner with them to showcase your properties. This will not only help you reach a larger audience, but it will also give you some much-needed street cred.

6.) Stop being boring and start sharing valuable real estate insights.

Nobody wants to follow an Instagram account that’s all business all the time. Start sharing valuable real estate insights that are relevant to your target audience. Share market updates, home buying and selling advice, and decorating tips. This will help you position yourself as an expert in your field and attract potential buyers who trust your expertise.

7.) Don’t be a ghost on Instagram – engage with your followers!

Engaging with your followers is one of the most important things you can do on Instagram. Respond to comments, reply to DMs, and like and comment on other people’s posts. This will help you build relationships with potential buyers and turn your followers into customers.

8.) Quit boosting irrelevant posts and start running targeted ads.

Boosting posts may seem like an easy way to increase your reach, but it’s not always the most effective method. Instead, run targeted Instagram ads that are specific to your target audience. Use eye-catching visuals, compelling copy, and Call-to-Action buttons to encourage potential buyers to contact you.

9.) Stop guessing and start using Instagram Insights to fine-tune your strategy.

Instagram Insights is a powerful tool that can help you fine-tune your Instagram strategy. Use this feature to analyze your audience demographics, track your post and story performance, and identify your top-performing content.

By regularly reviewing your insights, you can identify areas where you need to improve and adjust your strategy accordingly. For example, if you notice that your engagement is low on certain types of posts, you can experiment with different content formats or topics to see if you can increase engagement.

Bringing it all together.

Instagram can be a powerful tool for real estate agents looking to increase leads and sales revenue – as long as you’re doing it right. By avoiding silly mistakes ike posting terrible photos, using lame captions, and being a ghost on Instagram, you can position yourself as a real estate expert and attract potential buyers who trust your expertise.

Remember, building a successful Instagram strategy takes time and effort. Don’t be afraid to experiment with different tactics and always be willing to learn and adjust your approach. With a little bit of humor and a lot of dedication, you can use Instagram to take your real estate business to the next level.

Is Your Compensation Plan Driving Sales Results?

Posted on April 30, 2018 by - Goal-Setting, Sales

When building a winning sales team and strategy there are a few principles that are sometimes overlooked. Let’s take a look at five questions that when answered properly should help youth build a compensation plan that inspires your sales team to thrive and keeps your company on track for revenue and profit goals.

1.) What will it take for my salespeople to survive on their income based on our cost-of-living?

While it is true that salespeople should be paid for their performance and that the top salespeople will earn the highest income, you do not want your salespeople worrying about how they will pay their basic expenditures. Maslow’s Hierarchy of Needs makes it pretty clear the physiological and safety needs are requirements for people to perform at a basic level. Fearing how you will pay rent or buy food is not likely motivating your salespeople to sell more. It is likely hurting them and causing them to question their abilities, lowering their confidence, and may be impeding their ability to close.

A base salary should allow someone to at least survive their basic expenses during a difficult month or quarter. If performance issues last longer than a quarter and are not team wide, then we should be working on coaching to a standard or coaching to a new opportunity.

While I suggest a base salary that allows for survival, be careful that the base is not so large that it impedes the company from offering a strong compensation plan for outstanding results while maintaining a comfortable profit margin.

2.) What is most important to my people? What drives the people on my sales team?

This has nothing to do with your compensation plan, but it is the most important question in determining how the compensation plan is promoted to your sales team on an individual basis.

Most people are not driven only by money. People are driven by security, travel, ability to provide for their family, and freedom. These are often afforded through income. The income alone though is not usually the driving factor.

It’s important to spend the time to get to know the driving factor for your sales team. When you are promoting the compensation plan structure and how it will impact their lives, they will be more likely to hit higher goals that will keep your company on track for your revenue and profit goals. Keep your team in mind and ask from their perspective, “What’s in it for me?”.

If I sell $4 Million in product a year, and I earn $X. Pushing me to sell $5 Million to earn $Y will require an understanding of what I would have to give up in order to hit that higher number – training, travel, hours worked, more calls and rejection and comparing that to what I will gain in return – income, freedom, recognition, promotion, significance, etc. If I, as a member of the team, believe the trade-off is worthwhile I will hit the higher goal. If I don’t, why would I put in the extra effort.

When building your compensation plan, consider whether or not you know enough about the people on your sales team to understand what drives them. Then coach them consistently on how to take advantage of the compensation plan to help them achieve their dreams. You will have happy salespeople which will consequently increase your results.

One of my favorite books on this topic is The Dream Manager by Matthew Kelly. If you are looking for a new level of connecting with your team by helping them achieve what is important to them then you should grab a copy of this book right now.

Affirmations that Work – 4 Tips to Creating Effective Affirmations

Posted on April 8, 2017 by - Sales, SAVERS

Affirmations that Work!

Do you remember being told that if you want something, really really want something you must affirm and reaffirm those very same things loudly and clearly again and again? That you must say all those things that you want to be true as if they were already true?

And that’s exactly what you did! You sat there or stood there (maybe in front of a mirror) and  enunciated all those hopeful thoughts loudly and clearly, again and again (and hoped that nobody was able to hear you and if they did they did not think you were being silly!)

Even though that was precisely what you thought about yourself! And sometimes you asked if you were just lying to yourself…

It seemed like your words (even when stated loudly, clearly and repeatedly) still did not convince your mind or yourself. It became a process which you eventually agreed only made you feel conflicted, uncomfortable and unwilling to believe! And often plain silly!

So you stopped doing it!

You stopped believing in and practicing your affirmations!

Because you were not aware that it was possible to believe in your affirmations and to make them work!

And the Miracle Morning does just that – makes you aware of a process that will help you believe (again) in your affirmations and make them work!

There are 4 simple steps to this process:

  1. Affirm (again) – what do you really really want and why it is that so important to you. You begin by establishing and affirming what it is that is important to you and why it is important to you.
  2. Commit – what do you promise you are going to do to make sure what you really really want actually happens! What are the activities that you commit to do to make sure  your affirmations come true?
  3. Say it with feeling – you should be able to see what you want, smell it, hear it, almost taste it (and know that you are going to touch it – definitely touch it)
  4. Check in – with what you really really want as often as possible. Review them again and again.

An example of  an affirmation would be where you tell yourself that during this year you plan to double your sales volume in order to be able to afford 3 extremely exciting vacations with your family. And in order to double your sales volume you are going to ensure that you talk to 20 new people every new single day about your product.

I am doubling my sales volume in order to take my family on three vacations this year by talking with 20 prospects every day!

You are stating what you really want (the increased sales volume), why you want it (for that vacation) and what it is you are going to do to make certain that it happens (those 20  people you plan to talk to).

Then imagine, not talking to those 20 people you promised to contact. That should make you uncomfortable. Hopefully so uncomfortable that you actually make the calls.

And while that volume may not have doubled yet, it will be because of your commitment to talking to those 20 new people each day. Otherwise you would be living out of alignment, and that should make you more uncomfortable than not making the calls!

This is a reprogramming of the subconscious mind. You are creating new patterns and telling a new story about yourself. The difference now is that you can actually buy-in to your own words because it isn’t just wishful thinking. You are creating behavior change that will bring the results.

Integrity and without exception – that’s making sure you always do the things you say you are going to do.

If you enjoyed this article and would like more information on this topic, order your copy of The Miracle Morning for Salespeople now on Amazon!