The B2B Revenue Executive Experience
The B2B Revenue Executive Experience

Episode · 3 years ago

Todd Caponi on the Necessity and Success of Transparency in Sales

ABOUT THIS EPISODE

There is power in transparency in every aspect of your business.

Todd Caponi, the author of The Transparency Sales, has been in the sales trenches for many years.  He says that transparency is critical in today’s ever-evolving sales landscape.  The necessity of clear communication and evident added value continues to increase.

Transparency is a valuable tool in equipping your reps, engaging your potential buyers, and creating an environment where value-adding methodology flourishes.

I think that every selling organization's got an opportunity to do something similar to that. We're not all things to all people, so help your sales people understand what you're not and what you're not trying to be, and at what cost you're making that sacrifice as an organization. You're listening to the BDB revenue executive experience, a podcast dedicated to helping the executives train their sales and marketing teams to optimize growth. Whether you're looking for techniques and strategies were tools and resources, you've come to the right place. Let's accelerate your growth in three two, one. Welcome everyone to the B Tob Revenue Executive Experience. I'm your host, Chad Sanderson. Today we're talking about, oh you guessed it, transparency and authenticity. It's one of those things that keeps coming up on the damn podcast. Why it's the vast majority of us don't know how to do it, don't know why it's important, don't understand why it is so critical. And so, as an added bonus, if you listen all the way through the episode, we're also going to talk about negotiation tactics. So if authenticity boards a crap out of you, then transparency boards crap out of you. There's gonna be a negotiation to get at the end. To do this. Today we have with US Todd Capony, author of the transparency sale to be available seven days from today when Amazon and Bards and nobles. Now Todd's not just an author, he's also proven sales executive led growth phase of power reviews is cro he's not sitting in a towers pouting theory. This is real stuff from the trenches, which is why we're so excited to have them on the shows. Of Todd. Thank you very much for taking the time and welcome to the show. Thank you for having me. So let's get trade to the heart of the matter. Why is transparency so critical today? Well, if first of all, transparency's not boring. You know it's funny. This is a total side story, but you know, when you're writing a book, one of the things you have to do is get endorsements, and I went after an endorsement I didn't get, so I lost the sale, but I was trying to get tyra banks to give an addorsement and and like you, America's got talent. Well, yeah, but she just she's like like an entrepreneurial mogul. She just had a book come out in Ape roll called perfect is boring. So perfect boring than transparency? Certainly not. And then she's she coined the term being slawsome, which is all about knowing that you're flawed but embracing the fact that you're still awesome. And so when you ask like why is transparency so important, that's a really deep question. But ultimately what we've seen from trying this whole concept of leading with your flaws in not only your prospecting, your position and you're presenting, but then doing this thing I called transparent negotiating, that we found that it actually speeds sale cycles, it increases your win rates, it helps your qualification, so you qualify deals better faster. You know the old acts team is, if you're going to lose, lose fast. Well, if you leave with your flaws, you're going to lose flat. You'll lose anyway and it makes it incredibly hard for your competitors to compete against you. The problem you go into there, unless you do it right, is you don't want to go into a sales process and go hey, Mr and Mrs Buyer, this is why we suck like. That's not what I'm saying. There's a balance, but I was, let's a transparent exactly exactly. You know, what we found, not only through research and neuroscience and decision science, but even some things that we did while I was at power reviews, is that being imperfect is actually the best way to get to fast sales where you win an awful lot and you give your you and your company a lot more rope post sale. So there's a lot of important to it, and so we'll come back to the detail of because you use this approach when you were a power reviews and we'll talk about I'll ask you in a little bit how you know, how you did you coach that into the organization. But when you look at Sales Executive Today, right crows, evp of sales, whatever their fancy q little title is, what are the three largest mistakes that you think they're making today in terms...

...of training and enabling their teams? There's a lot. I mean that to boil it down to three. Number one can make them think like they've got all these problems with counts, like three of them. Yeah, gooble number as a former Crro, I know that there as many times that I suck the you know, I think number one is just that whole concept of you know, we teach our ups to sell as though our products and services are perfect. We hide the flaws. I mean, our kids are growing up in a world like. These kids, who are future buyers, are growing up in a world surrounded by feedback. I mean they're the IPAD APPS that they download there looking. I might seven year old looked at a freaking review on a princess game to see it what the score was before she downloaded. I was like my creating a monster here. But NETFLIX, like they show they don't know. They'll look at the star rating and whether people are liking it before they downloaded. Our Ore Uber drivers are rating us like it's become so easy for buyers to figure out why we're imperfect that don't we want to control that conversation? If we're going to present our products and services is though or perfect, that buyer is still going to go figure out why you're not. You want that to come from you, or do you want that to come from some place in the dark web or some redeat type, you know, and then never come back to you and then your next step and sales forces. The client went silent, silent because they just found something about you that you didn't share. And glass door, like they looked at glass door and realize it only irritated employees are dropping reviews. Yeah, I mean more is like I just consulted with a company and their glass door ratings terrible and I went into the executive team and I was like, you know that you're recruiting efforts are probably struggling as a result, but your buyers are doing a search and finding this stuff. Need to make a concerted effort to fix that. But when you're going into a selling situation, I think that there's a certain point where you need to be vulnerable and realize that they're going to find that on their own and maybe talking a little bit about it. But there's when the tech world there's sites like D to crowd and trust radius where buyers and users of different technologies are going and sharing the pros and cons of all the solutions they're using, and that's becoming a really pervasive but like social media, that just it's everywhere. It's not just your features and benefits that are out there for everyone to find. Now it's your pros and why you suck. Well, it's like it's almost like being the not cool kid in high school. You didn't know everybody was talking about how I'm cool you were. If you weren't going to trust radius or glass or all of these other places, if you're not aware of where the information and perception and perspective about you is out there, then as an organization you have very little ability to influence that and then as an a sales executive, you have very little ability to actually help your team overcome that or turn it to an advantage. Exactly exactly. I think it's, you know, being aware that that is out there and then working with your marketing organization to help you with the messaging. A picture my power abuse team. I know I had some young real go get our sales people that we're bringing in, but they didn't know what. Where's the line? Like again, like I said earlier, we don't want sales reps going in and go hey, here's all the reasons why we suck at all reasons why our clients leave us and like no, you know, I think there's when you think about the neuroscience behind this, you know we're all wired to resist being sold to and anything you can do early in a sales process to help disarm that, you know, what's been called a limbic filter early is going to you know, when it comes down to actually talking about the things you're great at, they're going to resonate more because you've disarmed them earlier in the sales process. So through number one of the three things that I see people doing. The next two are a little bit faster, but I think the second thing that I keep seeing. I've got a bookshelf here that's filled with books that the talk about whoever tells the best story wins. And like what the best sales people do? They tell stories and we all...

...need to tell stories. Yet when I go into these companies, I see them teaching their reps all about features and benefits and Roy and data and like the forester reports and like all this stuff that's all logic based. But logic actually polarizes us. And you know, we know today that our sales cycles that we're going through rely on a consensus sale. We're typically not selling the one person or selling to five plus, and if we're leading with logic, we're typically polarizing that audience. Like think about the political landscape where anything that's data lad is going to solidify people on the right and the left with what they already know. But now they're just better because they know the arguments of the other other side and they emboldened their current feeling like they haven't changed. That the same thing is happening in sales cycle. So we need to teach our reps how to tell stories and how to invoke emotion in the way we present and the way we position, because that brings people together. And there's there's neuroscience studies. One study had people hooked up to an FMRI machine, which is like a you know, something that actually can analyze what's happening in the brain, and they put on the movie the good, the bad and the ugly, and what they found is it was almost as though everybody in that room's brains were the same brain. It like they all bound together. It's amazing and like that just talks to the fact that if we're telling stories and we're being emotional, we bring people together. If we're just focused on logic and data, we're polarizing an audience and that that makes the difference. When you got a consensus sell you're working on. Well, in emotional look, emotions are you can't put them in a box. They're not pretty, they're ugly right there. Their unpredictable at times. We've all seen people who make a decision that based on an emotional reaction and they can spend, as we see in the political landscape, to your point, then justify with logic to the point of almost insanity. But I'm going to make that decision based off of emotion. Now the question I would have for you is, so if I'm selling as if I'm in Pergraef, I'm transparent, let's say. Then how do you, and you mentioned in some of your other interviews that the success you had a power views was based around having everybody sells if they were, if I get this right, a four point two out of five instead of a five. So how do you get your wraps to under number one, understand it, to internalize it and three, act on it, because it transparency, as I understand it from your perspective, requires a level of vulnerability that, if you think about your cliched sales guy, that's typically not even on the same you know, it's on the same spectrum of maybe me a different sport. So speaks. So how did you work with your team to get sales people, who have to have really thick skin and be okay being told no, no, no, no, no, to be transparent, to be a little bit more vulnerable? How did you drive that in tactically into the organization to get the result you got? It power reviews. Well, yeah, so I'm you know, just to start for anybody WHO's not familiar with it. When I was at so power reviews, what they do is they help retailers and brands collect ratings and reviews on their website. So if you go to Croxcom or jet or been your vines and you're looking at a product and you scroll down on the product, you'll see ratings and reviews and that's power reviews doing it. And we get a study that showed that conversion on a website, so when a buyers, left to their own device, is to make a purchasing decision of any level of consideration, conversion happens highest when the rating for the review scores a two to a forty five, which means a product, let's say it's a pair of shoes on crocs, will sell better if it has a four point two score. Than a five score, and so that's what you're referring to with that there selling as though you're a four point two. And I'll give you an example. So went into I was in New York. A Rep of mine called and said, oh my gosh, and it was a big apparel manufacturer, retailer up in New York that came in over our inbound line. And so,...

...you know, he was calling me all excited about it and I was like, well, I'm in New York. Call them up and see if he wants to go grab coffee. He called them up and it turns out the said yes. I went into the office right away and it turns out they didn't want coffee. They wanted a presentation and heat people into the room, and so it's like this Manhattan Office, eight people jammed into this little room and this guy is total like, you know, Very New York, which is very jobs in New York. Know what you're talking to? Mount? Well, yeah, exactly. He's like, let's just get to it, todd, I've been talking to your big competitor. They were in here that they sound really impressive. Tell me why power reviews is better than them. And like I'm looking around the room and they're they're readying for the sales pitch, like you could see their filters on, and instead of doing that, I was like well, can I start with why they might be the better choice? And they all looked at me funny and they're like look, sure, and you know, there was something on that competitor's Road Map that was kind of off the ratings and reviews focus that you're some apparel companies or liking and investing in and wasn't even on our road map. So I was like hey, listen, can I just start with this? This is something that they're working on. There's a couple of apparel up anies that like it. We're not doing that. It's not on our road map, but be here's why. And then I explained like why our focus was what it was. They complete, like the whole room melted and they were like wow, you know what, that could be important at some point, but I'm assuming you've got partners that can help with that. Like well, yeah, like all right, well, cool, well, let's not worry about that. That's great. All right, let's go on to why you guys are better, and that sales process, which normally would have been six months. We actually got that deal in six weeks and for the weeks, for the weeks were in the teas and season negotiation. Yeah, the analogy I always use is like, you know, think about the last time you went to Ikea. You know, Ikea doesn't hide the fact that you're going to go into the store, you're going to get lost in the labyrinth of Odiles, you're going to write down a code, you're going to go into the warehouse yourself with a Rickety Cart, you're going to load the box onto the cart and then tetrastyle jamming into your car, and then you're going to get home and you're going to try to put this damn thing together and there's not a single word on the instructions. It's all like Cran writing instructions. Yet you're going to end up with modern Scandinavian design furniture that you didn't pay a whole lot for, and odds are you're probably going to go back. And so, you know, I always think about that. Is some of the most and by the way, Ikea is the number one furniture retailer in the world and has been for the last eight straight years. So they're not hiding the fact that there's parts of this experience that are going to suck. But if what you're LE is is to have great furniture that you didn't pay a whole lot for, then we're the place for it. I think that every selling organizations got an opportunity to do something similar to that. We're not all things to all people, so help your sales people understand what you're not and what you're not trying to be, and at what cost you're making that sacrifice as an organization. That a we know we're not going to get every deal, but here's why we're doing what we're doing, because we really believe in our core value of providing acts well. It's what I mean we're talking about. Essentially talking about radical honesty. Right lie to oneself like hey, we do this really, really well, and if this is what you're looking for, then hey, we're great, but you know what, we don't do x, Y and Z. So if that's what you're really looking for, then we're not a fit. And let's just be honest. It's the same thing on pricing. We say to our clients all the time. It look, if your number one thing is priced, then go talk to somebody else because we're not No harm, no foul, and you know, let's stay in touch see how well it works. You got I go back to, though, that to challenge like Havan. We've all seen them, we've all shit. I probably was one of them at one point, those sales guys that were like, Oh hey, there's a deal here and I'm going to get it and they go kind of crazy over it. So, from an executive standpoint,...

...when you were a power of these, driving that into the organization, that awareness that it's almost an emotional honesty that's difficult to teach. So I'm really curious when you had reps, when you were looking for reps to bring onto the powers of you team, were there things that you were looking for that you knew would enable this transparencyre radical, honest approach that maybe some other exacts aren't looking for? That's a really good question. I mean, I think about in the book, I have a little bonus chapter that's got a couple of different topics and one of the topics is transparent interviewing, and I've had people that I've been recruiting come into interviews and say, Hey, todd, like then, I was looking at your job description and you're looking for I get this is a bad example because I've never looked for this, but it's the example. would be like you're looking for somebody who has an MBA, and I saw that and I realized that, you know, I don't have an MBA, but here's why I didn't get an MBA. And so they led with that transparency in the interview. That disarms me because is this person trying to sell me or trying to really find a good fit for his next ago, his or her next role? And so I think that there's some things that we can be doing in the recruiting process to be looking out for a candidates willingness to be a little transparent, a little vulnerable in the process and how to recognize that that's our that's a really good question, though it's something that I would love to dig into more. Well, at some point. I just think about it like you know. I mean I can be vulnerable as a nice guy and any time I'm working with well, there's something that might deny that, but I could be read a problem. Look to divorces, hundreds of hours of therapy. Like you know, there's a bad lot of baggage over here. Are Right, and I'm bringing it. I'm bringing it to bear. Now. There's a lot of experience because I've lived my life working most of the time and I have no problem talking about that because I've been able to put it in its boxes, so to speak. But when you see sales reps, especially younger sales reps today, I don't know if you've seen this, I have a tendency to see them, it's almost like they're not, I don't mean this in a negative way, audience, so please take a deep breath. It's almost like that smart enough to be scared, like they don't know what they don't know, and that people, I mean people, buy from people, is it's a we all know this. But they try so hard to be something that they're not that they do themselves a disservice. And I think in addition to structuring sales organizations and process and methodology so that it's affective for the organization, the growth market, captured revenue gains, whatever it may be, the getting into the inner personal coaching of really helping somebody be strong enough to be truly transparent not only about the company they work for but themselves. ADDS another layer complexity for sales executives. I think some may have challenges managing. Is that a fair on my partner? Am My just kind of out in the ether? Oh, no, totally. I think it's one of the important things that we need to be teaching reps is empathy, because you once we break through that empathy and understand, like get a rep to understand, you know, who are the types of people that they're looking to engage in. Like think about prospecting, for example. I think about your twitter feed or your linkedin timeline and and you know linked in there's all these posts, just tons of post, but which ones do you engage in and which ones do you skip by? I think a rep can pretty much communicate that now too. They know which ones they engage in. They typically engage in the one that speak to them, that are providing value, and they typically don't engage in the ones that are trying to sell them something. And like, the minute we start to communicate that to our reps and they start to see that, like, listen, our buyers are like us and they want to engage with human beings and they don't want to be sold to. It as matter of fact, their brains are wired to resist being sold to. It's why, you know, it's funny. I like we're driving down the street, coming home and we saw a couple of people walk in a few doors down. They were well dressed and they had a clipboard and it was like it was like the freaking government...

...was coming to take our provisions. The way we acted, like we ran into the house, we close the drapes and like we went downstairs or like nobody answer the door, and it's like that's the world we live in. And it's like, you know, if they were selling girl scout cookies, it would be different, but it was clear that you know, they were going to try to sell something and that wasn't girl scout cookies. I think we all can experience that and reps need to understand when they're being that creepy person walking up the driveway with a clipboard, first the person who's there to really help them and be vulnerable and be a human being. And I think we need to figure out are ways to teach reps how to be human and how to empathize and understand what types of things they engage in and what kinds of things they don't excellent. So all right, so we've talked about the individual and how this shows up. The individualists talk sales methodology, a little bit self described sales methodology, learning theory and Decision Science, not according to the BIOS that I have. So let's talk transparency in what is essentially a radically changing business environment. Right. So there's sales methodologies have been out there forever, well, ever being, you know, twenty thirty years. That's a long time for some of these young inns and some of them all. Some haven't. Some are more relevant in a radically transparent environment than others. So when you think about the impact that it being truly transparent at the organizational and individual level provides, there has to be an underlying methodology that they can plug into. So what should as sales exactly understand from your perspective when installing a sales methodology? How do they combine it with the concepts in the transparency sale? That's a great question. I think that when I look at the transparency sale, I think about it more as a philosophy and their specific tactics that you can take in the way that I wrote the book was there's tactics that you can apply to your prospecting efforts, your positioning, you're presenting, creating the mutual buying plan, the way you negotiate, the way that you handle teas and seas negotiation, to how you handle the post purchase behavior. That's not a methodology, that's a philosophy and those are tactics and I think it's really important for organizations to have a methodology that's really, really simple. One of the ones that you're obviously very familiar with but I've always advocated for is that value selling methodology, because it's easy, and you know it's easy in the fact that I had rolled it out at a company that I was a VP of sales of back in the late s called Right Hemisphere, and it was within a few weeks we just change the way that we were having conversations with clients, where we stopped focusing on the nagging problems they can solve and we bubbled that up to how it impacts revenue, how it impacts cost and how to impacts risk and in overall clients success and the whole conversation change and we had a framework that we could build around I think you know, when you think about value selling and transparency, I think that's to really match up super well, because we're not changing the fact that companies have a hundred problems but they can only focus on four or five at a time and those are the ones that tie most specifically to revenue increase, cost reduction, risk reduction. You know the language there. There's tons of problems, there are solutions out there. We still need to diagnose the power, we still need to have a plan with the client and this is just a different way to think about how we're going to position and prospect and present so that to marry up a really, really well. And so the methodology helps you contain and maintain consistency, while the transparency seal allows you to be the best you inside of that consistent frameworks out a fair exime. The transparency sale is a mindset with specific tactics that help you execute at each stage. But that methodology is your overall organizational this is the way we think about it, this is the way we track at this is the way we measure it and I think both are necessary excellent. All right, so I have to ask this. Your award winning sales exact and an author. Now, Bravo. By the way,...

...writing a book is no small task and and we've talked before. So I and we know our perspectives are aligned in a lot of places, right. But many sales and marketing exact struggle with millennials in the workplace right, the speed of change that we live with the concept of transparency. There's a lot of stuff going on in the business environment today. And on top of that, many still look at sales training as a checkbox, like hey, I trained them and now, boom, I should be you know, I'm ready for IPO or, you know what, I should be beating Wall Street tradition, which we all know, those us in the busin, those of us that have been doing this for a while. That's not necessarily true. So I'm curious, from your perspective, not only as as an author, but from having been that sales executive, what advice would you give your peers or other practitioners, other sales exacts, on the most effective way to US install the sales methodology and augment it with things like the transparency sale? Well, that's a great question too, and I think about it in terms of most of the millennials that we hired and you know, maybe we were just lucky. I you know, I think that they come with a different perspective in that you're right like that. They want to reach the top and their first six months I showed up from my first day work. I need to promotion exactly. It's like you've approaching carol at a bar and you're marry me. It's it's your we sometimes have that kind of thing. But you know, I think that if there's a few things that we did at power reviews that I think we're really successful. You know, number one, we created a tiered approach to the way that sales people are brought in and promoted, and we were very transparent with that from day one. So instead of having all the reps are one level and then there's managers and you can go from rep to manager, that's always seem kind of silly to me, we had a whole tear structure and there was basically four different tiers of sales rep and they, the reps, knew what they needed to do to reach that next tier and that just the created extra motivation around them. Your brain needs a filing system and if we create filing systems for the brains of these millennials from the first day and give them a structure that they can build on instead of just sending them out into the wild. And that's why these methodologies are so important. I think that it helps them to grow faster and feel their own growth because they're actually learning. The millennials that we had, they had this in quenchable thirst for learning and, to your point, that in quenchable need to advance. And if you can't balance both, I mean there was a year at power reviews where we only had about ten percent of our reps hit their number, yet we had less than two percent voluntary turnover. That here wow, and so why does that happen? Its millennials are not all money hungry, like we all used today. Don't say that you make they're a lot more about personal growth. And you know, if I think, when you think about checking the box with training, I think if you make a real concerted effort to make your reps, especially your millennial reps, successful, and you're teaching them and you're showing that you're investing in them, you're going to have lower turnover, which just ends up in better results. And so that's the way we advocated is invest in our reps and then give them a clear picture as to how they're going to advance and how their resume is going to look great, because the other thing we should probably say around is millennials, the job that they had with me is not going to be their last job. They're not working at power reviews for forty years. Right. My goal is to make them better at what they do and help them build an incredible resume so that when it is time to leave, their ready. Yeah, and I think that transferring to especially millennials. It's unique on the sale side, the way you describe it right, because most of us come from a world it's like we're going to hide the sales rep. if they hit their number, then maybe we'll promote him to manager. With that ever asking a if they want that be if they're going to be any good at it. Right. Slightly different skills at and then you take your top performer out of the field and you've got them trying to do with a whole bunch of...

...political, you know, stuff that they're not set up to deal with, as well as all of the diverse personalities that are on the team. So I mean it created a lot of gray area, right. So I think being transparent the way you've described as perfect, especially for millennials. I think it should be kind of standing practice in general, like Hey, here's where you are, here's what you got to do to get to the next step. We're going to invest in you and help you get there. It's not some so we're both. There's not some magical potion. You got a drink. This is what you need to do, and I think that transparency, that honesty, pays dividends, especially with the types of individuals that we're seeing in the sales sales world today. Yep, exactly. And I think that whole manager thing, just for any of the younger reps who are listening that are thinking about management as an ext roll, the one thing that I always a box people is that being a manager is for being a wrap is ultimate independence, like you control your own results, you control your own behaviors, your activities lead to the results. When you become a manager, you become completely dependent, and that's something that I always try to be like, make sure that you're ready for that. That's not always because you got great results that you're going to be a great manager, because it is a completely different mindset. Yeah, I like to. I've never heard it describe that way, but I'm going to still. I'll attribute it to you. But I'm not doing that because that at least not meet for the first three times and then you can take it as your own. Excellent, okay, and then I'll put tm after it. All right. So we've covered a lot of new a lot of points on transparency, but I promised some people begin to interview the Todd Capony in fifteen minute negotiation method. Now, look, it's named after you, so we're expecting some serious meat here. How US understand? What is this negotiation method of which you speak? Well, yeah, it was a method that happened excidentally. I was the VP of sales of you know I talked about earlier, Right Hemisphere, a few years ago, and we had a one and a half million dollar deal on the table with an oil services company down in Houston. My rap called me and said that they we were at the goal line of the negotiation and they didn't want the whole let me talk to my manager speak. They wanted a decisionmaker to come down there and we'll just get in a room and bang this out. So he calls me up. I go down to Houston, beautiful in July. It's a it's a wet heat. Yeah, it's a wetty for sure. So we we go in, we go into the conference room and there's, if I remember correctly, there was five people, for from from procurement, waiting for me and Bush. And so I was like I knew this. We're going and I was I was feeling like, Gosh, I'm not just going to sit here and go. Let me think about it. So I wrote up on the White Board. I was like, here's the four things that we care about as a business, and so I wrote down on volume was number one, which is the how much you buy. Number two was how fast you pay or the timing of cash. Number three was the length of commitment or obviously how long you commit to the technology, and for was when you sign. And I told them these are the four things that we care about. I know where this is going. Maybe we can help you get there. And they immediately launched into that's really interesting. We need thirty percent off, and I was like, well, okay, instead of fighting that, I went hey, I think we can. We can get you there, and we went through each of the four levers and framed each of the four levers of with this phrase that I use a lot, which is will pay you in the form of a discount. So if you think about volume, for example, if you guys are willing to commit to more technology, you've got other divisions that were thinking about dealing this that are want to wait for able to pull that forward and commit now, I'll pay you in the form of a discount for that. If, right now you're we're talking about monthly or quarterly billing, if you're willing to pay annually, Oil Services Company in two thousand and nine, I think they had seventeen billion dollars in cash and their balance sheet. I think they can handle my one and a half tanks now. Yeah, exactly. It's like, if you're willing to...

...accelerate and do annual pay, that's that helps us as a business and we're willing to pay you for that the form of a discount. The length of commitment, like, you know, they're committed to one or two years, like hey, commit to three years and we'll pay you for that. And the fourth one was, you know again, this was July of that year. The conversation was, hey, if you're willing to help me forecast my business, there's value to me and that and willing to pay you for that in a form of a discoun note. If you can hold this to September, will give you an additional five percent off. I gave them a path to thirty percent. They didn't want to commit longer, they didn't want to commit more, but they were willing to accelerate cash and help me forecast my business and we got them halfway to their thirty percent with fifteen percent, and there was pure transparency and trust and and they were happy with their fifteen percent and they got it. And that's what it is. It's, you know, instead of playing negotiation like it's a Texas holding tournament where you're hiding your towels and all that crap, this approach is let's go in and flip our cards face up on the table and tell them this is what we're willing to pay you for. We know you want to discount. Here's how you get it. Roll your own deal. Yeah, well, I mean it's like stop all the Games, right, just stop all the Games, like we're here, we're all here to business. You guys need something. We need something let's just have the conversation right and normal adults. Let's let's not play games, let's just put it on table. I love it and so I will make sure that in the show notes that we put the todd component fifteen minute negotiation method tm. So that's right. I don't remember what chapter it is in the book, but I dedicated the whole chapter to excellent. All right, so let's change direction a little bit here. I asked all of our guests to standard questions towards the end of each and read first is simply now, as a revenue executive running own business, sells mail and sales. Mel, excuse me, that means you are a target in a non politically correct way of prospect. For those that want to be politically correct, help me understand. Somebody who doesn't have a relationship with you, doesn't have a referral source into you. So it's like I don't know somebody who knows you. But I believe I have something that will truly be of benefit and value to what is the most effective way to capture your attention and get fifteen minutes on your calendar? I'm going to be really controversial here, but I believe that we're entering an era where we need to stop selling in our prospecting outreaches. I think that we need to start thinking about prospecting as an opportunity to provide personalized value. In a very brief way, what I mean by that is you think about your email inbox today. Like as a cro I was getting fifty, a hundred emails a day. Many of them were cold outreaches from salespeople, and the first tip I'll give you here is we've got to start thinking beyond the subject line. So we were taught to optimize the subject line at our emails because that was the difference between the opening an email or silver bullet for this month. Optimize your optimize your subject lines exactly. That used to be it. But now, if you look at your email interface, almost every like if I look at my iphone right now, I can see the first ten words of the email to and when I see an email that starts with I or we, like those words specifically. I don't have time for IR. We. You've told me right out of the gate that this is about you and that you're going to sell me something. Right especially, my favorites are the ones that say hey, todd I wanted to see if you saw my email from time. I love that. Yeah, I saw it. It sucks I didn't reply exactly. It's like why they've sort of reminder as to why I didn't open your last one. And so, you know, when you think about just buy or empathy, I make the comparison that an email inbox and email is like play in the instant lottery. There's a chance that there's something really great and there, but odds are it's going to suck whatever I'm about to open. So we've got a need to open our emails. As an executive, I have to be responsive. If my CEO or my board is asking for something, I better beyond it. In so doing, I have to scroll through a bunch of crap to get there. The emails that have always jumped out at me are when somebody reaches...

...out just providing value to me. You know, as a CR I had one company that sent me an email that was like hey, here's a template that Cros that we work with use and it's just a basic template for how you present to a board and just go ahead and use it. And that was it. There was no sales pitched in it. They didn't even tell me what the company did, but of course in their email signature I could click in. But I looked at this template and I was like, well, there's some pieces of this that are really helpful to me. Who sent this to me? Like I went back to night, I did the research myself and we ended up calling them. That's the kind of stuff that I think we're heading into this world where there's just so much noise. And the second again, because we're wired to resist being sold to, that we can't be inundated with reps that are eyeing and we we weiing all over us. They need to be provided in personalized value and be genuine and that prospecting outreach, and those are the ones that stand out to me. I always make the comparison that I like which things and Linkedin or in twitter do I interact with? Do I interact with the ones that look like sales pitches, or do I interact with the ones that are going to provide some value to me? It's the same thing in the email inbox today. I think we just need to be thinking that way. Yeah, it's a beautiful point and if we were sitting in a bar right now, we buying another shot, because that concept of providing value up from when we work with clients, I tell them, like your first two touches, you don't ask for anything, provided you showing you know who they are. And the look on the sales reps faces is that it's a gas that we do. That might delay that might delay my sales process. Yeah, but you know what it? Chances are it's actually going to get you really qualify people that are that understand you have thought about them and that you are you're trying to help them rather than push something on them. It's a very subtle shift. It's very subtle, but I think you're right. I think you're one hundred percent right. It's going to be where we're headed in the future and if people don't figure out how to do that and do it with authenticity and transparency, they're going to end up shooting themselves in the foot. Oh Yeah, I mean you've got to be showing that potential buyer that you're there to help them and not sell them. And if the first sentence out of your email is we just finish this project for this company and we have this kind of are a line and it's just like you just we weed all over my email, like let's move on. So that was actually going to eat to this coin flakes. Thanks for that, guys. All right, so the last question. We call it our acceleration insight. One thing, if there's one thing you could tell sales marketing professionals service to you, one piece of advice that, if they listened, you believe would help them hit their targets or surpass them. What would it be? In why? Well, first of all, and it's got nothing to do with the transparency sale, I just find that in my career, when I shifted from being money hungry to this whole concept of having a thirst for learning and just wanting to be a resource for my customers and even my organization, it changed my whole career. I think that as sales people like sometimes I interact with people that are a little bit later in their careers and, you know, you sometimes find these people that are done learning, like a I was successful with this approach in one thousand nine hundred and ninety five prominy we have. Well, keep you and it's act it to you. Yeah, it's. I think that that piece is you got to continue to have a thirst for learning always, but that. The second piece of that is that our brains make maps and being wired to resist being sold to what worked today is not going to work in six months. We've got to be on top. You know, the world of selling, the acceleration that's happened. You know, between the time where the person invented the wheel to about the N S, sales really didn't evolve much at all. But from, you know, one thousand nine hundred and eighty to two thousand and eighteen, where we are now, it is excelled rated at such a rapid pace that, again, what worked yesterday won't work tomorrow, and we've got to have a thirst for learning and stay on top of what is going to be effective, because you're going to get stuck in left behind really, really quickly. Without a doubt. I love it, Todd. So where's the best...

...place to get the book? The transparency sale comes out again, audience one week from today. You can go preorder it, but where would you prefer they go to buy that book? You know what, they can buy it anywhere they want. I'll tell you. As of a couple of days ago, and last time I look the price was lower on Amazon. So you might want to go there. Well, there you go. People say some money on it and I don't know if you have any international listeners, but it available on Amazon in Europe and I did to have a buddy of mine just check to make sure he could pre order in Sydney, Australia, and it's available there too. So wherever you want to buy a school with me. Awesome toime. I cannot thank you enough for the time today. Has Been absolutely amazing having you on the show. It's been fun. Thanks, Buddy. All right, all right, everybody that does of this episode checks out of be Tob Rev exaccom. You know the drill. Share the episode of Friends, family, Co workers. If you like what you hear, do his favorite. It's a review on itunes. And until next time, we wish you nothing but the greatest success. You've been listening to the BB revenue executive experience. To ensure that you never miss an episode, subscribe to the show and Itunes or your favorite podcast player. Thank you so much for listening. Until next time,.

In-Stream Audio Search

NEW

Search across all episodes within this podcast

Episodes (256)