Jorgie’s Jargon- Prospecting

Jorgie’s Jargon- Prospecting

This week’s word is probably the first word I should have covered this year, but better late than never. Everyone does this, sometimes mindfully and sometimes without realizing it, but it is always one of the first steps in your sales process.

This is one of the first steps in any sales process. How can you sell when you have no potential clients? Prospecting is the process of identifying potential clients (prospects) and loading the top of your funnel with them. As you work your sales process and feed the prospects down the funnel you will convert a percentage of them to clients.
There are several ways to prospect, cold calling, social selling, asking for referrals, networking. I as you can see I have covered a few of these in emails past, but I am happy to give a refresher to all who need!

Need to perfect your prospecting process? Let’s schedule a chat!

 

Jorgie’s Jargon- Prospecting

Jorgie’s Jargon- Negotiation

I hope you had a restful weekend and your day has been productive, I know we are all full steam ahead at the Jorgie Inc headquarters. Today’s term is one that I have noticed over the years people have a negative association with. It doesn’t have to be that way, this word, and what it means, isn’t scary and can be done in a tactful way.

Just remember when you enter into a negotiation, it’s just sales, and do not be nervous!!
Negotiation is a strategic discussion or bargaining process between parties with the goal of reaching a mutually acceptable agreement.
This means you have a conversation with your client and discuss how to come to an arrangement that works for all parties. It’s simple. If your services are out of budget, is there a smaller offering that you can put together or can you extend the terms? There are answers to all objections in a negotiation, you just have to be creative.

Need to hone your negotiating skills? Let’s schedule a chat!

Jorgie’s Jargon- Prospecting

Jorgie’s Jargon- Draw or Draw on Sales Commission

This week’s term is one I am asked about frequently. People are never sure if taking a draw is right for them, and honestly there is no black and white answer as everyone’s situation is different. Being in sales however, this is something you may eventually need to consider.

A Draw or Draw on Sales Commission is a term used to note a certain pay structure. The ‘draw’ is released against expected commissions or earnings. In layman’s terms you are advancing your commission. Draws can be good or not so good. On the good side draws can give you a consistent source of income during slow sales periods, but when times pick back up you will have that draw taken out of future commissions.

Want to see if a draw is in your best interest? Let’s schedule a chat!

Jorgie’s Jargon- Prospecting

Jorgie’s Jargon- Upselling

As we head into this next week, take some time to reflect on the goals you accomplished last week, and how you can build upon them. Small actions done one upon another can produce amazing results. If you are looking for some reading materials, 2 books I recommend are The Slight Edge and The Compound Effect, they speak perfectly to this idea. This week’s word is a great example of using compounding in your business.

Upselling is when you find a higher-end solution for an existing customer. For example, you sell a client a subscription software system and they are happy with the program. You follow up one or two months into the subscription and offer the next tier plan, which is a higher cost, but also offers more robust features. In the simplest of terms, think “would you like fries with that?”. What can you offer as an add-on feature or Upsell to your clients?

Need help with your upsell? Let’s schedule a chat!

Jorgie’s Jargon- Prospecting

Jorgie’s Jargon- Key performance indicators (KPIs)

This weeks word, well phrase really, is one I talk about a lot. When you set goals, no matter the size, you need some sort of measuring system to keep you on track and ensure you are making progress toward the goal and not spinning your wheels.

A key performance indicator is a value that indicates how effectively a business is reaching its goals and objectives. KPIs have multiple levels – a high-level KPI would focus on overall performance, such as annual growth, and a low-level KPI would focus more on day to day activities, such as sales emails sent. They are more than numbers you report out weekly/monthly; they enable you to understand the performance of your business so that you can make critical adjustments in your execution to achieve your goals.

Need help setting and evaluating your KPI’s? Let’s schedule a chat!