Comments on: Selling Like a Rookie

By: Jess

Jess — Wed, 09 Dec 2009 23:14:54 +0000

Doyle,

You are right on all counts. Rookies are in an identity seeking posture given the nature of our industry – financial services. It is product promotion driven. A small proportion of the advisor community operate on a fee for service professional practice platform. CRM is a key tool in measuring longterm client productivity results. It is not used as effectively as it should be because the industry focus is new client acquisition rather than client building and longterm client retention. The compensation system is ‘high’/'low’ i.e. high first year compensation – low renewal compensation. Some companies have moved to a ‘level’ compensation system – most have not. Advisors focus on the compensation structure and act accordingly.

Thanks for your comments. They are accurate and timely.

Dan Zwicker.

By: Steven

Steven — Mon, 23 Nov 2009 06:53:03 +0000

Dear IJay,

There is nothing for free. Except the rain perhaps?

By: IJay

IJay — Mon, 16 Nov 2009 20:23:14 +0000

ok, so what CRM do you suggest? What are the best FREE CRM tools?

By: Hal Alpiar

Hal Alpiar — Mon, 16 Nov 2009 18:47:29 +0000

What you’re talking about should be re-named to SUPM for “Sizing Up Prospects Management” because sales pros never start CRM until after a sale is made. How can you “manage” a “customer” who’s not yet a customer.

And, no, this distinction is not a semantics issue.

Words are important. Words are what sell.

The management of a customer relationship is a 100% different activity than the sizing up of a prospect and determining if the group or individual is legitimate or not, or if she/he/they is/are serious or just kicking tires.

Interestingly, it’s often the rookie who fails to get this, and ends up trying to build a relationship with every prospect in order to make a sale, which can quickly result in the rookie salesperson becoming a rookie administrator or rookie unemployed.

Good topic. Thanks for the opportunity to comment.

Regards – Hal

By: Lynn @ UpYourTeleSales.com

Lynn @ UpYourTeleSales.com — Mon, 16 Nov 2009 11:50:44 +0000

thanks for making it easy for me to RT about the article!

By: Dan Zwicker

Dan Zwicker — Mon, 16 Nov 2009 11:40:03 +0000

Doyle,

Thanks for your comments. They are accurate and timely.

Dan Zwicker.

By: Mark Mitchell

Mark Mitchell — Mon, 16 Nov 2009 07:30:42 +0000

Doyle, Love the topic! I’ve been in sales for 25 years and have been an advocate of CRM systems for all of those years. A company must have a Sales Force Automation or (CRM) Customer Relationship Management strategy & in the 21st century, full stop. August 2009, The Aberdeen Group published The 2009 Sales Automation Report – Best-in-Class Strategies for Increasing Returns on SFA Investments. Of the 212 companies analysed to compile the report 39% did not integrate sales data into a SFA or CRM system – amazing. One of the more important points in the report states that 82% of the Best-In-Class companies indicate that their sales reps spend up to three hours a day inputting date or sales activity into their SFA or CRM. Maintaining the information in the SFA or CRM tool is capturing that information; that turn clients into prospects; that feed the pipeline; and its that depth of pipeline that champion salesman is able to enjoy. Now the type of information to capture may vary from industry to industry but the logic of listening; capturing information and working your client lists and prospect lists will never fail the rookie or the champion.