The past few months have been filled with ups and downs for producers. Although some firms are seeing sales numbers return “back to normal”, that is not the case for all companies. Sales numbers are usually a good indicator of success, but now that your producers most likely aren’t making as many new sales (though they may be better off for retention), what should you expect from them? Perhaps you’ve furloughed some employees and have brought them back with your stimulus check (even though your usual workload has not returned). So, if they can’t perform their main role of selling, what expectations should you have for your producers? Here are some aspects to consider: (more…)
Currently browsing: Industry
Latest Updates, Trends and Topics
Qualifying sales prospects more important post COVID-19; how to prepare
Published on June 8, 2020 in Vending Times
As locations start to reopen for business following the COVID-19 quarantines, now’s a good time to strategize your sales calls.
Companies that do their homework about their prospective customers before calling them usually have better results, but in an environment where businesses are in a reopening mode, customer research is especially important.
Businesses that employ people need refreshment services, but they might have other priorities at the present time. In addition, they might not know how many employees they will be rehiring. How can you best “break the ice”?
It’s all about the “warm” call over the “cold call”: research your prospects. Research will allow you to have a better understanding of the company you’re calling on, which will lead to a successful conversation with your prospect. (more…)
Insight on Cold Calling in the Vending Industry: Interviews from the front lines
Written By: Elizabeth Clark, Sales & Admin intern
MarketReach Inc. specializes in B2B appointment setting and lead generation, as well as list development services. We develop prospect records for the majority of our customers, which involves identifying decision makers and validating contact information in a specific region. The marketing department offers alternative services such as LinkedIn awareness campaigns, email newsletters, marketing collateral and more. During my internship, I was curious to learn more about the mechanics. I interviewed Campaign Managers Chris and Roy who oversee every phase of the process at MarketReach, and they have provided insight into 4 specific questions around coffee, vending and micro–market lead generation. They have collectively been at the company for 20 years and oversee the lead generation team in every step of the Introductory call journey. (more…)
Redirected – Multi-Channel Marketing Builds Credibility
What is multi-channel marketing and why should my business use it?
Multi-Channel Marketing is the practice of interacting with potential customers using a combination of indirect and direct communication channels, including traditional forms of attraction (outbound phone calls, direct mail, networking events, published articles, public speaking), and digital (website marketing, email newsletters, social media and more); Combinations of outreach also known as “integrated marketing”.
Why is it needed in today’s world? When you develop credibility and expertise, you gain trust. Competition is fiercer than ever and marketing to “every-man” is costly. For breakroom service providers, it can be very cost-effective to figure out your greatest opportunity for sales to a specific audience, in which your messaging resonates with those prospects directly. At the very least, spend your marketing dollars going after specific industries that normally hit your staff size sweet spot. (more…)
Redirected – Researching Prospects Before a Sales Call
Let’s talk about the right way to go after prospects. It’s all about the warm call over the cold call: research your prospects. Research will allow you to have a better understanding of the company you’re calling on, which will lead to a successful conversation with your prospect. This information will let you personalize your insurance pitch to create a unique connection and build rapport with each prospect. Not only will you grab the prospect’s attention by “due diligence” demonstrated, but they will be more likely to listen to what you have to say! Perhaps even more important- research (i.e. qualifying) will offer insight into whether a prospect remains pursuable.
(more…)
Multi-Channel Marketing Builds Credibility
—Reprinted with permission from Professional Insurance Agent Management Services Inc.—
Multi-channel marketing, or integrated marketing, is the practice of networking with potential customers using a combination of indirect and direct communication channels—including traditional forms of attraction (e.g., outbound phone calls, direct mail, networking events, published articles or public speaking), and digital (e.g., website marketing, email newsletters, social media and more). (more…)
2019 Automatic Merchandiser “Pros to Know” Awardee
The sixth annual Automatic Merchandiser and VendingMarketWatch.com Pros to Know Award recognizes vending, micro market and office coffee service industry professionals who are leading initiatives to help prepare their company, organization and the industry for the significant challenges of today’s business climate. This award highlights both individual and group achievements that promote industry innovation and future growth.
MarketReach, 2019 Pro to Know
(more…)
Prospect Qualification for Breakroom Suppliers
One of the most important topics you can cover with your sales reps: the effect that a successful qualification call can have on the sales process. The impact is inimitable. Proper qualification saves the sales team time, so that labor that can be properly allocated to pursuable opportunities. This process prevents pipelines from getting filled with an abundance of unqualified, or more so underqualified, prospects that drain your sales rep’s time and energy. Imagine dialing in multiple times over to the same prospect that is estimated to have 120 employees, only to reach them and find out they actually have 22 on-site! Or making 6 calls over 3 months to Suzie, who turns out to be a “coordinator” – hardly a decision-maker.
Although certain criteria requirements vary from Operator to Operator, the importance of an effective qualification call remains constant.
(more…)
Uncover Your Agency’s Value Proposition
—Reprinted with permission from Professional Insurance Agent Management Services Inc.—
In addition to a reliable prospect list, your agency’s value proposition is arguably the most vital element of your overall marketing messaging. A value proposition explains how your product solves customers’ problems or improves their situations. Let’s face it, it’s not always easy to differentiate in the insurance industry. From our work helping insurance agencies get sales appointments with their prospects, differentiating (on paper) has proven to be the most challenging piece of the sales process—but it is the most important first step toward an effective sales strategy.
It’s easy for an insurance agent to be a quote shop, but in an effort to not become commodity-based, let’s explore how to uncover the value proposition to get the insurance buyer’s mind away from just thinking about the price of a policy. That is not to say that the cost shouldn’t be part of the prospects’ mindset, as saving money often is the first consideration. However, how you save them money is part of your value proposition. A solid value proposition demonstrates credibility and expertise while developing trust.
The End of Summer: A Strong Finish to 2019
By Jessie Geevers
Back in the beginning of the summer, we provided tips to keep your sales pipeline flowing through the summer months. Now let’s keep the momentum going as the decision makers return from their summer vacations, eager to finish out the last quarter strong.
Track your efforts and strategize.
Identify the prospects you contacted these last few months via phone or email, and ask yourself the following questions: Aside from traditional forms of outreach, did you utilize any direct mail campaigns or email newsletters and track clicks? Did you host or attend any summer networking events or conferences? Did you enter new business cards and contact information into your CRM? Did you get your foot in the door when business was slower in the summer? If you engaged in any of the above, hopefully you were recognized for your efforts to distinguish your company among the competition. Your summer efforts can push you forward in the line of competitors vying for the same business now that fall is around the corner.
There is no time like the present to follow up. Find out if there were any holes in your lines of communication. Who did you meet with this summer that should hear from you again? Identify these opportunities and strategize by assigning priorities to each task. (more…)