Building A Powerful Center of Influence (Notes Version)
- 1. As you listen think of 1-2 key concepts for ideas you can take away from what you learned – this will create an immediate impact and reinforce new prospecting habits. If you just listen and don’t do something with it, that’s entertraining, not looking for real change. Think of 1 new tactic, practice it, then come back for more! 1
- 2. Top producers practice 3 core principles in their day to day activity. They recognize Zig Zigler was right when he said ‘you can get anything you want in the world if you help enough other people get what they want’. They work smart, not hard, and focus on a few key relationships that create substantial impact in their business. And finally, they know that most people just don’t bother to follow up. They do and don’t let the details slip – this immediately differentiates them from the majority of sales people. 2
- 3. When you examine your center of influence you have to compare perception to reality – your perception to your client’s reality. To do this you will inter view your clients to find gaps, services you need to offer, gain introductions to potential partners, improve your client retention and grow your sales! You will also discover what most of us face – we must have key influencers to reach our prospects, not lovely people! It’s not a fun time activity – if it doesn’t lead to business the relationship belongs at happy hour, not in your prospecting effort! 3
- 4. Influence is defined and used in one of 2 ways, either as a noun or verb. The first question to ask in reference to referral partners is whether it needs to be used in one form or fashion over another for your prospecting effort to be successful. Many people of influence are unable or unwilling to use their influence on the behalf of others. They may also struggle with how to use it for themselves. You need to discover potential partners who are comfortable with using influence as well as having it. Your best partners recognize how they can impact your sales cycle and you theirs. The goal is to find partners who will move or sway the prospect to work with you over staying where they are. 4
- 5. Your Center of Influence is an asset you need to track, so step back and take a look at what it really is and conduct a SWOT analysis Know where your strengths lie, What weaknesses can you identify resources to fill. What opportunities do you need to leverage to better retain your key accounts and find new business. What threats from competitors or your own skill set do you need to immediately address Remember your best client is someone else’s best prospect! 5
- 6. First step in your analysis is what do you influence and what do you need to influence Has your decision making process changed? Are there new key influencers impacting your sale? Do you reach all stakeholders? Do you sell ‘down’ or ‘up’ the stairway of influence? Identify the highest relationships you can reach in your best clients and become their ‘go to’ resource to fill their needs. This is how you begin that process 6
- 7. Ask yourself – how often are you contacted for help? If the answer is B or C you are viewed as a vendor by your clients and not a Trusted Advisor. 7
- 8. Look at your key accounts – A & B only. A – very profitable, you have a lot of the opportunities in the account, they call you with issues, love your service, take your advice and are cool people to work with. B – typical accounts , good cash flow, easy sale cycle, profitable, you can probably grow the account to an A with more cross selling – but it’s good $ C- marginally profitable, needy. D – unprofitable, don’t appreciate you, pain in the you know what – they are on the list to be fired. With you’re a and B accounts understand what departments do you infleunce Example – Sales, Finance, HR, Sales, Operations, Etc What people do you influence? Example – Owner, HR director, Marketing director, Sales, Etc. Challenges – their challenges they face in growing and doing busienss. Example – Attracting and retaining good people, looking different than competition, reducing costs, growing sales, etc. Look at this exercise and then conduct your Chief Executive Semi- Annual Review 8
- 9. Meet with the Chief Executive of you’re a & B accounts Review what they came to you to solve, did you do so, what else have you accomplished outside of their expectations, and what did they wish you could solve. Ask who they go to for advice on topics similar to yours – people, process, financial, etc. Ask who do they know who would benefit from the level of service they have received from you. Ask specifically for an introduction to a center of influence relationship you have identified they know. Remember a Cof I represents multiple clients wrapped up in 1 relationship – they are equal to your a accounts and in some cases exceed their value. 9
- 10. Prepare for your meeting with your top decision maker. Use Google Alerts to get notices of articles, press releases, lawsuits, anything that mentions your clients Join industry associations that your top client belongs to – in some cases this will give you access to other clients that look like you’re A & B account. Discover at least 1 way you can add value to your relationship with your client outside of your service area. Do not ask the world’s Lamest Sales Question – What’s keeping you up at night? You need to know at least one thing that is causing them to lose sleep based on what you find. If not, keep digging. Interview vendors and their clients also for this insight. 10
- 11. Remember to research your clients connections through Linked In prior to meeting with them. If you haven’t connected to them yet on LI, you’d better. Remember ‘Your best clients are someone else’s best prospects’! The more specific you are with your ask for an introduction – Name of who you want to meet, why you want to meet them, and how you will make your referral source i.e. client look good for introducing you, the better your chances are for an introduction. 11
- 12. Are you getting the emphasis that your best clients are someone else’s best prospects? In business development we live in the world we can sell and sell and sell some more, but if we don’t’ retain our clients we will end up with less than when we started. If you are thinking you are solid in with your best clients and nothing could get you out of their – you’re naïve and lazy. And you will lose them. You must add value to the relationship above and beyond their expectations. It’s not enough to be completely satisfied. If that’s all they are, you are not doing your job. 12
- 13. Now what? Organize your clients into A & B categories, look at what departments you influence,, what people do you impact, and what challenges do they face. Schedule your client meeting to explore how they view you. That is your Center of Influence –where it counts. Identify key influencers you would like to add to your C of I. Ask for an introduction by your client. Follow up Send thank you not for their effort Add Value Make their lives better. 13
- 14. For more information on how to build a powerful Center of Influence. Go to www.productiveprospecting.com to register. We will meet for 3 separate sessions to walk you through step by step building and growing your center of influence. The cost of this series is only $149 for this introductory offer. If you would benefit from structure, support and accountability to grow your center of influence, sign up now! We will look forward to seeing you and hearing of Good Selling! 14
- 15. Thank you for your time, attention and contribution. Have a Great day and Good Selling! 15