June 27, 2018
666: The Science of Lead Gen & Why AEs Must Prospect
Tom Poland, author of LEADSOLOGY®: THE SCIENCE OF BEING IN DEMAND and Bridget Gleason, VP of Sales for Logz.io and my regular partner, join me on this episode of #Accelerate!
First guest: Tom Poland
- Tom is accompanied by Monty the Marketing Wonder Dog. They take walks on the beach where Monty inspires Tom with new marketing ideas and “herds” seagulls.
- Tom ‘cut his teeth’ in sales and marketing 41 years ago; next, he joined the corporate world in sales. In ‘95, he started his own business, where he continues to sell.
- LEADSOLOGY® was inspired by a line from one of the Rocky movies. In writing it, Tom wanted to document his lead generation experiences, help other people, and get new clients. This is Tom’s third book.
- Andy notes the conversion tool of questions in the book to assess the current situation. Andy compares it to his lead deficit tool. Always know the challenge ahead. Many companies skip this step.
- Ready, fire, aim works fine under ambush in a jungle war zone, but a business is not under ambush. Figure out how many leads you need, your ideal revenue target, and how many consults you need before you start chasing them.
- Ready, aim, fire is a more effective way to prepare to sell. Know what you are trying to accomplish. Know the one number — how many leads from inquiries you need to generate each week. Inquiries are Oxygen to the body.
- Not all qualified leads convert. How many qualified leads do you need? A qualified lead has had an immersive experience with your brand, knows your fee range, and considers you their best choice. That is more than BANT.
- To qualify a lead, you demonstrate to them your value and their ROI in buying your brand. When they agree in principle, they are a qualified lead. Coco Chanel talked about being different. Tom says desirable differentiation.
- Salespeople are not Hugh Jackman. Don’t sell as if you are irresistible. Sell with a method.
- Tom and Andy discuss mistakes companies make. Random acts of marketing occur when there is no strategy or predictable system of lead generation. Know your ideal customer profile. See the right people.
- Effective marketing sets a salesperson before highly qualified prospects all the time. Tom tells of one of his VA SDRs. The SDR does lead generation for video conferences through messages on sites such as LinkedIn.
- Educational events such as video conferences create reciprocity, all other things being equal. Hire a VA through a freelancer site. Hire a person, not an agency. Consider how a VA offshore can feed your funnel economically.
Second Guest: Bridget Gleason
- Andy just joined a gym. Running half marathons and biking every day isn’t enough.
- Today is another opportunity to succeed.
- Andy tells of an account executive he overheard who smirked at the idea of prospecting. Other people tell Andy their AEs refuse to prospect. Should AEs be expected to prospect?
- Some companies are getting rid of SDRs and turning prospecting over to the AEs. Should sales remain hyper-specialized? Bridget would ask an AE if they want to hit their number? Do you want to bring home the money?
- You’ve got to do what you’ve got to do. The days of prospecting are still with us. Bridget’s top performing reps prospect daily. They don’t talk about it; they just do it. Andy talks about figuring the number of leads they need.
- At some companies, AEs are accustomed not to prospect. The prospecting muscle needs to be exercised or it atrophies.
- Andy talks about controlling risk and being in control of your fate. That’s what took him into sales — the need to be in control of his career and income.
- We’re in a generation of managers who act as helicopter managers. They manage every detail. They don’t let the AEs go out and figure it out.