Security can transform your MSP – grow MRR – and open new doors…all you need is an assessment that converts, and a message that compels your prospect to act…
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Do You Have a Solid List to Sell To?
Not Having a Great Prospecting List Just Might Be The End of Your Business Success…
If not, this one weakness may be the thing that keeps you from hitting or exceeding your 2017 goals. This post is my first post of the New Year, so let’s kick this year off with a plan to 10X the business you’re in!
13 Years ago I started my company (Stelzl Visionary Learning Concepts) using a list handed to me by a security product manufacturer. 250 names of companies that would benefit from my offering, if only I could reach them.
I was excited…
After all, lists are expensive and often filled with misinformation. My newly acquired list was clean, up-to-date, and accurate. One problem… I didn’t (at the time) know what to do with it. I emailed each prospect. I also tried calling…I took a great list of names and turned it into sales resistors. Now what????
Not one turned into business (at least initially). I was approaching sales like a junior sales rep, not a marketer. I was doing what most sales people do – calling repeatedly (pestering people I don’t know) to get them to buy something.
Business was slow, but I learned a valuable lesson. My friend’s list wasn’t my list.
If you want to sell more, you need one of two things. An organic list of traffic you own, or a way to convert a cold list (or cold traffic) to a list you own. In both cases you need a list you own But I’m getting ahead of myself….
New Year, New You, New Way To Sell
Conversion: Building a List of Qualified Leads You CAN Sell To
There are four kinds of traffic (think of each name on your list as “traffic”). They are:
- Traffic you don’t own of control
- Traffic you control
- Traffic you own
- Traffic you used to own (which is like traffic you control but different)
What you want is traffic you OWN…so stop cold calling and start list building…
You’re in sales. And the more traffic you own, the more people you can direct down paths that lead to solutions, and profitable business. It’s win/win. And a win turns a profit. But without the conversion process, you’ll just be cold calling…
The other two types of traffic are made up of people you MUST convert to traffic you own (if you plan on growing your business this year).
Traffic You Own is The Best Traffic To Have – So Let’s Start Here…
Let’s take look at traffic you own. I love owned traffic…this is my personal list. A list I have nurtured and pruned for over ten years, with thousands of names on it.
These are the people who have opted in to my mailing list or marketing process.
Perhaps they’ve bought something, they’ve downloaded a special report, or attended a live event. They know me by name, and have opted to give me their name and email or phone contact information. Do you have a list like this? If so, how big is it. More importantly, is it growing each month?
If you have a compelling value proposition, and you have nurtured your followers, chances are most of them will eventually do business with you in some form or another.
The key is nurturing, educating, and offering relevant solutions along the way. Fail to nurture your group, and your tribe will fall into the abyss. Every neglected name eventually becomes “traffic you used to own”.
In 2007 I taught classes for Cisco direct sales reps around the world. I collected hundreds of names. But lacking the automation necessary, I failed to keep up with each individual.
Occasionally I would send out an email blast but more often than not I would get “Unsubscribes” and complaints about spam. People who had once opted-in for more information and training updates had forgotten me. That’s my fault, not theirs.
Bottom line, you want more traffic you own, and you need a way to keep up with each potential buyer, farming like you would a crop of high-margin, grass-fed beef.
Then There’s Traffic You Control – Another Group I Love
You control traffic when a person subscribes to your blog, Likes your Facebook page, or follows you on Twitter.
When I do a joint venture webinar with Ingram Micro or Speak at the Avnet Partner Summit, I am in front of traffic I don’t own but can control.
In my recent Ingram Micro sessions I converted 90% of my “Controlled Traffic” to “Owned Traffic” using a simple opt-in strategy…and a conversion strategy is exactly what you need if you want to own more traffic.
Notice here that Traffic You Control is highly valuable, and the conversion metrics can be extremely high…
Using lead magnets (such as a video or special report) work well. In my recent 90% conversion event, I used a Text Msg Opt-In to a summary video of my session. It worked like magic…
Over the years I’ve tried all kinds of conversion methods, including handing out cards and brochures, passing around a newsletter sign-up list , and back-of-the-room book sales. Back-of-the-room usually converts about 20%. Following up cards converts 2%.
At an event years ago I offered a free onsite coaching session following my breakout. The conversion was low, but the business I closed was easy and extremely profitable. Some of those clients have been with me for over ten years now.
But the Text Msg Opt-In has by far been the most effective (I’m using FixMyFunnel to convert these leads).
During reseller Lunch & Learn events I doing something similar to convert. The attendee is converted from controlled or uncontrolled (which we will get to in a minute) to owned through a hardcopy letter campaign (Yes, you heard me right – hardcopy snail mail sales letters).
The event itself is an up-sell campaign delivered to controlled traffic. Our conversion with owned traffic at live events is nearly 100%. Notice that we needed to convert them from controlled and uncontrolled to owned before the up-sell could take place. So we are going from hardcopy letter, to event, to assessment…and on to MSP contract.
Finally There’s Traffic You Don’t Control – Not As Good, But Good To Have, If You Can Convert
Even though my new list was clean, the names on that list were uncontrolled traffic. They didn’t know me, had not visited my site, and had not been referred to me. My list was no different than an expensive magazine mail list.
Other examples include Social Media sites like Facebook or Google+. LinkedIn searches, guest blog traffic, youtube channel views, and organic traffic to your website offer more examples.
Converting uncontrolled traffic is similar to controlled traffic. You need a lead magnet.
Right now my oldest son is looking at various sales positions as a next step in his career. We were talking the other day about prospecting and I pointed out that finding traffic and converting it is the place to start. If you’re employer hands you a list of 300 names to call on, that last thing you want to do is start cold calling them to set up an introductory meeting.
Doing so will likely chase those people away. Better to find a lead-magnet they’ll want, and get them to opt-in. Do exactly what I did at the Ingram Micro event. Offer content and a way to get more. Then, once converted, create an ascension path just like the one I created at the Ingram Micro event and target that 90% conversion rate.
Coming later this month, I’ll be discussing how to build effective lead magnets and conversion strategies that will both build your list and create ascension to higher margin solutions you offer. Stay tuned and feel free to post questions right here…
© 2017, David Stelzl
P.S. Transformation is here – that means security opportunities abound…are you ready?
Consulting Skills Needed
Speaking In Buffalo, NY this Morning – This ship (above) sits right across from our hotel!
If you want to succeed in selling technology solutions, there are a variety of skills sorely lacking in most technology sales organizations. Today I’ll be meeting with Ingram Micro’s Advanced Solutions Team in Buffalo, NY exploring some of these.
Years ago the relationship might have been enough. While you can’t sell without a relationship, it’s not enough. Clients want more. The truth is, there are lot’s of relationship people out there. Here are some of the skills we’ll be discussing today. None of these are out of reach. They just take some extra effort. Apply just a couple of these and they’ll put you out in front of your competition…
Skills That Set You Apart
Public Speaking: I can’t say enough about “speaking”. Most assume good speakers are born that way. It’s not true. Perhaps there’s a handful, but most great speakers have worked at it. In fact I was speaking with an executive just the other day who told me he was getting ready for his annual sales meeting and needed to submit his recorded speech to his speaker coach. There are a number of routes to take here.
Some are nearly free. For instance, Toastmasters. Every city has multiple Toastmaster groups, so join one and get some speaker critique. Learn how to engage an audience and your sales calls will be more fun, and far more productive. Imagine clients who like hearing you present!
Facilitation Methodology: Disagreement among colleagues in a business you call on is one of the primary reasons they never take action. Learn how to bring synergy and you’ll shorten sales cycles and increase close rates.
Dr. Edward De Bono’s book, The Six Thinking Hats has been a pillar in my library for some time. I’ve also had training from one of their authorized instructors – which I highly recommend. This one skill will likely double your business if you work at it.
Copywriting: Your high school english teacher would likely have a heart attack, but I am much further ahead having studied copywriting. We’re talking about marketing communications or “Marcom”. It breaks most of the rules you learned in school – but copy is what sells. Great copy is expensive, but you can learn to write your own. Stop sending out boring emails, and you might even decide your own company’s data sheets are poorly written. John Caples has several books on the subject. Any one of them is a great place to start.
Presentation: Different than public speaking, but related, is the art of presentation. People learn in various ways, but most presentations miss the mark complete. Chip and Dan Heath, in their book, Made to Stick, do a great job of educating us on how to make content appealing and sticky.
We’ll cover a lot more today, but this is a great start…Check out my book, “From Vendor to Adviser” for more details on these, as well as consulting skills, assessment methods, and event how to price with higher margins.
“From Vendor to Adviser” <<< Click here to get it on Amazon
© 2016, David Stelzl
The Important, But Difficult Transformation…
From Vendor to Advisor
Last week I had the opportunity to meet with Ingram Micro’s Datacenter Advisory Board to discuss the important transformation: From Vendor to Advisor.
Meeting at the DropBox office in San Francisco (Amazing office space!), I covered five key areas of transformation. But one important one, every sales person should be engaged in right now is that of understanding the CIO and their current challenges.
CIOs are in trouble in many respects. If you call on businesses large enough to staff a actual CIO, and you were to get their honest input on where things are headed, you might be surprised to hear what’s going on.
The office of CIO is under fire right now from two sides…
On one side, the business leadership is looking for CIOs to lead the charge with digitalization. That means figuring out how to leverage transformational technologies to compete in a digital world. Customer experience is the focus here, and customers want to be connected online. Amazon-like interaction is becoming more and more expected. The sales rep who can provide business insight on how to transform the business is going to be highly sought after. CIOs can’t so this alone.
But few reps are doing anything more than parroting data sheet features and functions. The answer? Every rep should be back in school! By that I mean taking time to learn about business.
Reading the CIO Journal is a great start. But don’t stop there. Read books written by the top business authors. Every month I recommend books I find value in through my Insider’s Edge Newsletter. One book I recently recommended, Traction, offers great insights into the business planning process. Business planning might not sound like technology sales stuff, but it is central to what business leaders need. Start with the things they are already engaged in, and then move to the digital age to help them solve real-world problems.
On the other side there is security. The fact is, security is changing, and CIOs are being asked to present a measurement of risk to their board. Where does that data come from? In the very large enterprise, such as Bank of America (where I used to work years ago), there are teams that handle that sort of thing. But come down a step or two and it doesn’t exist.
One of my clients, who manages this entire process for regional banks, recently reported achieving over 400% of his quota in just 6 short months, simply by providing this to his clients. They need it, and they’ll pay for it.
The Trusted Advisor Formula
There are two ingredients – Trusted and Able to Advise. It’s obvious. Maybe even silly. When I say this on stage it usually gets a laugh.
But there is an important question here. Are you able to advise on the things your execute-level clients really need advice on? If not, how will you equip yourself to make this transformation? It’s not easy. It takes diligence in reading, studying, and listening to/ watching great content. Those who take the time to study will see the results. Those who don’t may find the next decade in this business to be impossible.
© 2017, David Stelzl
How is Your MSP Retention?
If you’re losing customers over the year, you’re losing money – big money.
The average stay for a client on an MSP contract is a few years, but if you look at a single year’s profit for your average customer (12 months of payments), losing adds up quickly.
Tomorrow Ingram Micro will be hosting a Livecast where I will be addressing this issue. Of course, I will be pointing back to security, and how to leverage security to increase retention. But not just security – there are some great strategies that you can put to work right now to increase retention and keep your value proposition strong. Hope to see you there.
Sign up right here (CLICK) <<< Click to grab your free seat on tomorrow’s Ingram Micro Livecast.
Want to Multiply Your Managed Services Business?
Join Me This Thursday
I’ll be presenting a repeat of last week’s session on how to Transform Your Technology Reseller Business w/ Security.
Find out how to grab the attention of business owners who don’t really think they need more security.
Discover how I convert 90% of the audience when presenting security at reseller lunch & learns (In just 60 minutes).
See why budget does not matter – even when a company has nothing to spend, they’ll find money for security.
I’ll also show you why most resellers are failing to close annuity business of any kind, and how to change that with one simple change in your strategy.
Yes I Want a Seat! <<< CLICK to join my on Thursday April 7th, 2016
Sponsored by Check Point and Ingram Micro – plus they are giving away 10 seats in my Security Sales Mastery Program (Normally $500), and Check Point will be giving one attendee a FREE 700 Series Firewall!
©2016, David Stelzl
Are You Getting New Customers Every Month?
Not everyone is – especially in the Small Business Market.
The economy is shaky, and in an election year, many small business owners are waiting to see what’s going to happen.
In the mean time, you could be capitalizing on the security trends. The news is full of horror stories these days. But the sale isn’t as easy as it sounds.
Last week I presented a livecast workshop on WebinarJam – I’ve been using a strategy for the past 15 years that does not depend on economics or budgets. And it’s proven to work over and over, even with people who don’t believe they need more security.
This is so important that I’ve gone out for sponsorship so you don’t have to pay the $500 I normally charge for the workshop. Check Point and Ingram Micro have agreed to sponsor a second run of this program on April 7th! That’s this week!
Grab your seat here <<< CLICK TO GET YOUR SEAT!
Be sure to click the calendar icon when you see the confirmation webpage so it’s on your calendar!
© 2016, David Stelzl