By Jack Warkenthien, CEO of NextStep Solutions
Three strikes and you’re out is not just true in baseball. The reality of selling reminds us, if it takes more than three “touches” to convert a contact into a candidate (to purchase your product/service), you’re either wasting time with a nonqualified opportunity or you haven’t brought your “A” game to the field. It’s time for you to organize your “Century Club”. What is that? Simply, it’s your Top 100 (hence the century moniker) Candidates that you have qualified previously. Not a hundred and one, not ninety-eight, but exactly one hundred businesses or consumers that you will continue to engage until they become customers or they drop off your list.
Have you organized yours? There’s something pure about the number. There’s enough opportunities to exceed your quota/budget for the year and yet not too many to overwhelm. And the greatest thing – none of them will be cold calls to you! How do you “target” your Century Club?
Target R.I.C.H.
Your Century Club will be sourced from one of the four “rings” on the target: Relationships, Interests, Careers, Home – or R.I.C.H.
Relationships are the bullseye. Identify the candidates where you already have a prior personal or business relationship. They will include the subset that will most likely buy your solution or refer someone who will. This core group will be the smallest in number but the lowest of the low-hanging fruit. On average, your group here will be in the range of a dozen or so, give or take. Love on these businesses and give them your undivided attention.
Interests are the category of candidates that you already share something in common or have a common interest. For instance, they may be a part of your networking group, members of your health club, basket weaving class, or Rotary Club. You share a common interest and now it’s up to you to convert that relationship into a revenue stream. I love this group because you sneak up on them and they never see the sale coming! You should be seeking “circles” of people that share a common passion or interest and do your best to get involved. Best way: volunteer for a leadership position. This category will likely include two to four dozen candidates from which to choose. Now, your Century Club is about halfway to being “sold out”.
Careers are the next category. My father, 82 years young as I pen this article, came from the generation that birthed all of us “Baby Boomers” decades ago. He retired from Illinois Bell and then Ameritech after a 33 year career with them and got a gold watch. For better or worse, that career trajectory is highly unusual today. In fact, for a fifty-something professional, the average number of jobs now exceeds six positions, with three career changes along the way. That’s an average number. To populate your elite Century Club, go back to all your co-workers and remind them who you are and what you are now doing. You will be amazed at how many referrals you’ll receive, if they only knew what you do, and how many of them need you and your value!
There’s no place like Home. This is the final source of candidates for your Club. If you sell locally, look first in the places where you live, work, eat, shop, and pray. I can’t begin to recount all the stories of sales professionals who literally drive by the most lucrative “honey holes” in search of the elusive customer. “Thar’s gold in them thar hills!” They’re much closer to home so don’t overlook the best candidates that are right under your “shovel”.
The Rule of Fifteens
Your Century Club is full and you’re not entertaining any more members. It’s time to go to work. This is where persistence is rewarded BIG TIME. Introducing the Rule of Fifteens, the part where you should be excited which states, “If you find a way to touch a candidate fifteen times or more, over time, there’s an 80% chance that they’ll do business with you on some level.”
Why? Your conviction, passion, and perseverance will be very convincing. And I’m not talking about a series of will you buy, will you buy, will you buy perfunctory questions. No. Meaningful touches are over time. Here’s an amazing stat for you: more than 50% of sales professionals give up after the first “No”. Can you believe it? To round out the Rule of Fifteens, if you can find a way to ask for the order four times, you have a 20% chance of doing business; eight times, you have a 40% chance they will become customers; twelve times, 60 percent will be revenue sources for you. Don’t be a statistic.
From here, as you focus on your Top Hundred Targets, there’ll be NO cold receptions. Your challenge will be to take them from cool, to warm, to hot, to Smokin’ Hot. This is where it gets interesting for you. Next month, in our next part: Timing is everything and you’ll also learn to Zig while others Zag.
May you have continued success on your journey.
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Jack Warkenthien, CEO, NextStep Solutions, can be contacted by email at
[email protected] or call him at 832-344-6998. You can also visit his website at www.nextstep-solutions.com.
