shaw connect 2017 sales breakout w/ the lead tool
TRANSCRIPT
The only constant is change.
Chase Shiels CEO, 4me Group + Lead Tool
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Background• 10+ years lumber distribution, manufacturing, dry kilns
• 130 year old family business specializing in imported & domestic hardwoods + white pines
• Nine core markets ranging from retail, industrial pattern & casting work to high end fixtures to custom millwork
• Inventory management, vendors, equipment, IT
• Three years automotive retail • E-commerce, marketing, inventory & sales velocity
optimization, online sales • Toyota, Chevrolet, Honda, Volvo, Audi, Maserati, Porsche • 150+ new leads/mo
• Three years+ building sales software focused on management (CRM), enablement, and data analytics
LEAD TOOL
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Whether you are at work or not, you’re also a consumer.
What do you want when you buy?
Customers don’t care about you, they care about them.
Consumers Want to Buy from Specialty Stores
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Consumers start online, then go to the store.
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*source: https://www.thinkwithgoogle.com/articles/purchase-decision-mobile-growth.html
Takeaways • Customers come to salespeople for information they can’t get online • Salespeople need to provide answers and insight at “Google” speed.
If they don’t, consumers move on.
Sales professionals matter
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“ We went to an anchor store. There were more salespeople than customers, but no one offered to assist us.
The Problem• Consumers buying process &
preferences have evolved
• Sales is no longer a transaction, sales is an entire experience
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“The market is what matters. The quickest way to go out of business is being romantic about
how you make your money.
The Market, in a Picture
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Our reaction every time we hear this
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The Market, by the Numbers
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• 48% of the time salespeople do not follow up - our research indicates this is closer to 65% or more
• 80% of sales do not close until contacts five to twelve
• 60% of consumers have not completed a purchase due to poor sales experience
• When a salesperson forgets to follow up, 60% of consumers simply buy elsewhere and 40% are left “feeling like they don’t care about me”
Dealers: “We’ve been doing it this way for 40 years!” Customers:
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Where’s the Competition?
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• Box Stores: sales processes and CRM software already in place
• Retail Lumberyards: • 45% of the Pro Sales top 100 yards already have or plan to
implement CRM software this year • 33% have showrooms displaying flooring already
• Online: • Q: “What’s the biggest killer of a positive relationship with a
customer?” • A: “It's where you don't live up to something you promised. In
the customer's mind, you made some sort of commitment, but in the end, you didn't follow through on that.” - Niraj Shah, CEO, Wayfair (2012 - Business Insider)
• Amazon now has brick and mortar stores
The Solution
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1. Design & implement a scalable sales process
2. Implement systems to enable & carry out this process
“Until You Have Productivity Skills, Productivity Tools Are Useless”
- Harvard Business Review, Aug 2016
Why?
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55% of salespeople are not equipped to do their jobs.
Result: they aren’t equipped to help customers.
They lack: • Sales process • Ongoing sales training • Sales tools
Why? The Math…
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Assume you install 100 jobs/month at average sale $2000
• This means you get about 300 leads/mo (industry standard close rate ~30%) and generate $200k in monthly revenue
• What happens to those other 200 leads?
• If you have system to work them and close an additional 10%: • 20 new sales x $2000 = $480,000 in annual revenue • Why wouldn’t you want an additional $480,000 in
sales?
Part 1: Design
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• Standardize: this will be repeatable and scalable
• How do you want the customer to experience your brand from the time they walk in the door (or call, email)?
• Identify current points of weakness - think through how this looks today
• What happens after someone walks in and is greeted? Is information being collected? If so, what and how are you asking for it?
• When is a someone contacted next after you’ve quoted them?
• What’s the after sale procedure? Thank you card, referral ask, one year check in?
“But I didn’t grow up with that…”
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“Well, you didn’t grow up driving, but you figured that out”
“Putting in work and learning is one the requisites for building a business. Yes, really, you have to learn - yes, you have to know what’s going on”
*source: Gary Vaynerchuk: https://www.youtube.com/watch?v=6nalTg_yXSs
Remember, this is how your customers respond when you don’t follow up because “we’ve been doing it this way for 40 years”
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Part 2: Systems - Keys
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• Specialist over generalist
• Focused on solving your problem, not 10 other ones • Industry specific can be great - but can also be meaningless
• Features are meaningless if they do not get used!!!
• Modern: flexible, extensible, integrations + public API (application programming interface)
• Success vs. Support - big difference!
• Nothing is perfect!
“In theory, practice and theory are the same thing. In practice, they are not.”
Part 2: Systems - Objectives
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• Assist in implementing the process you designed
• Standardize this process across your entire organization.
• Automate key parts of the process
Sample Onboarding
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Thank You!
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