Solution Finder.
Successful first meetings
Some practical things you can do to prepare.
Richard Masters
Objective
First meetings are diffucult!
This slide set presents some ideas on how you can prepare to ensure that the meeting is a success.
By the end you should have a good methodology to tackle a first meeting and get follow up meetings.
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First calls are not easy!
Dont know the person
The lead may have been passed to you!
Effectively it is a cold call
Most clients have had bad first meeting experiences
The client does not know what to expect and will react instinctively not logically
But....
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Why is it so hard?
The skills involved are actually very complex
Mixture of business skills and sales skills and sales methodologies
Need to understand SMEs
Really are building blocks
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No pressure then!
Fortunately, there are some well tried and tested techniques which can help you both through the first meeting and on the way to a successful business relationship!
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Three key topic areas
Preparation
The meeting
Post meeting
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1.Preparation
Get this wrong and it is hard to recover- however good your meeting and interpersonal skills are!
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Important to plan thoroughly
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Need to allocate sufficient time
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What P***es off clients!
People who have not researched the basics before the meeting
Reading from, and filling in, a questionnaire during the meeting!
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Areas to Prepare
Need to get as many insights as possible into the Company, the Competition and their Market.
Vital to establish your personal credibility
Three key Areas of research:
The company
The competitors
The Industry/Market
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A. Company Research
1. Website
2. Search
3. Marketing Grader
4. Social Media
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1.Website
Start point is the Company Website. Thoroughly search and analyse it:
Organisation: Size, Structure, legal status, key people, locations, main products and services, operations, partnerships, memberships etc.
Sales & Marketing: Overall approach to S&M, Channels to market, key marketing tactics, key messages and key words, benefit statements (value propositions), USPs, social media connectors , brochures, white papers ,in house or outsourced, channel partners etc.
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Keywords
Tag cloud- good start point for finding search terms.
This one is for a business consultancy.
http://www.tagcrowd.com
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2. Search
Search Analysis. Using the keyword/phrases identified. Run a Google SERPs listing for the main ones. This should establish:
Is the business primarily local or not? Does it have a Google Places listing?
Where does it rank in organic search?
Does it use PPC and who is using PPC for these keywords?
Who appear to be its main competitors?
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Example of a SERPS listing
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SERPS Cont....
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Google Alerts
Set up Google Alerts to monitor all web activity for the company on a periodic basis
Company Blogs. Subscribe and follow these.
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3.Marketing Grader
Brilliant free tool:- www.marketing.grader.com
looks at key features of a website as a marketing tool
Composite score out of 1oo
Allows comparison with competition
Use with care!
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Key MG metrics
Top of funnel
Blog
SEO
Nos pages
Page title
Page description
MOZ Rank
Nos Links
Mobile
Social
Facebook Business Page
Middle of Funnel
Landing pages
Marketing Automation
Analytics
Google Analytics
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4. Social Media
Can be a very useful source of information on your prospects/customers.
Main Ones:
1.LinkedIn
2.Twitter
3. Facebook
4. Others
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Research Individuals and Companies:
Individuals Profiles
Find by people search (drop down box)
Profile info
Background & Summary (Personal Value Proposition!)
Jobs history
Academic and qualifications
References
People know you have viewed their profile!
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Connections
Browse all and common connections
Shared Groups Companies and Locations
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Companies on LinkedIn
Displays Products and Services
Insights into their marketing strategy
Displays all employees and how you are connected to them
Display followers ( click on followers tab)
Shows recent updates (offers, staff changes etc) and blogs
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Google company name twitter to find accounts
Try key individuals as well.
Profile page: useful background information
Can see Companies own tweets: Good clue to their marketing strategy. Number of followers a good proxy for effectiveness!
See incoming Tweets @companyname
See their follower lists= list of customers/prospects. Or use a tool like Tweepi.
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Google search to get facebook accounts if not on website
Profile and timeline give you lots of background info
May need to like them to get at detailed information on their marketing strategy: prospecting, online orders, customer service etc.
See customer responses directly beneath on their Wall!!
Gives you good discussion points in a meeting!
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Example of Facebook entry
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Other Social Networks
Visual ones:
Pinterest, Instagram, Flickr
You Tube
Directories:
Yelp, Yell, or
Specialist ones
Location Based
Foursquare
Google + Local (ex Google Places)
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B. Competitive Research
Dont go over board on this but need to show an awareness of competitive environment.
It will be at the top of your prospects interest list!
This is their Mastermind topic so be careful.
Compile a top level assessment of the main competitors as follows:
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InformationRequired
Identify who the main competitors are
Assess their relative market strength
Understand their key strategies
Talk about the implications of this for the prospect
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Who are the competition?
The SERPs listings should be a good start point!
Explore the websites of the top listing sites and those that advertise on PPC.
Go to Alexa.com and type in the prospects website URL, then review the listing of " People who visit this page also visit".
If business is basically local then Directories ( Yell or Yelp) or G+local are good sources
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Competitor Strategies
Glean as much information from their company website (size, locations, products, marketing strategy etc)
Google them individually and see what turns up
Use Marketing Grader by inserting the competitors URLs.
Search their Social Media profiles/Blogs just as you would a prospect
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Word of warning!
Handle this carefully as many clients are very sensitive about this!
Always ask the prospect who he sees as his major competitors and why, first.
If he doesnt mention a competitor you have identified ask him/her what he thinks of them.
Many companies take an overly historical view of competition and cannot see the new threats on the horizon.
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C. Industry/Market Research
Useful to be able to talk about wider trends in the prospects industry sector
The holy grail is market research which can cost money but, articles, whitepapers and industry reports do tend to exist. Find them using Google search.
Google Trends is a very useful tool.....
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Summary: Preparation
Preparation: is the single most important thing you can do to ensure a successful outcome to a first meeting. Give it sufficient time.
Having researched someone and their company beforehand pays them a compliment.
Use the information wisely, be informed. Test your understanding rather than stating it.
Remember: The person opposite you has a history and an agenda- which you currently dont know!
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Three key topic areas
Preparation
The meeting
Post meeting
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2. The meeting
There are four key elements to the meeting:
The meeting plan
Opening The Call
The questioning strategy
Closing
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A. The Meeting Plan
Vital element in any successful meeting
I prefer to do it about an hour before the meeting.
Involve the whole team even if you are going alone
If more than one person-agree roles!
Lots of pro-formas exist- choose one that suits you
Three examples below (downloads available)...
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http://www.plan2winsoftware.com/applications/precallplanning
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B. Opening The Call
You only get one chance to create a professional impression
Standard 4 stage process:
1. Who? (Introduction)
2. Why? (WIIFM)
3. What? (Objectives)
4. How? (Agenda)
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C. Questioning Strategy
In the case of your first meeting you are essentially undertaking a fact find
Subsequent meetings will be at different stages of the sales cycle and require different approaches.
Three key basics:
1. Use a list of key topic areas to structure the questioning (pre-populated).
2.Use the Inverted Triangle or T Bar questioning methodology
3. Variety of questioning types
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Overall Questioning Structure
Define the areas you wish to find out about. Different for different groups of people (see next slide)
Pre-populate with information you have discovered during preparation. Check this during the meeting by questions to test your understanding.
Have prompts/ queues for areas you need to probe
Conduct the interview in a conversational manner and follow the lead of the questionee. It should not seem like an interrogation!
Resist the temptation to offer views/advice or conclusions at this stage!
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Topic lists
Simple list (template)
Pro forma approach
Company Details
Company structure
Company strategy and competition
Financials
People
Operations
Sales and Marketing
Personal
Include: questions/facts/prompts
Bones of an Account Plan
Shareable with client!
See next slide for example
(downloadable)
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Questioning Methodology: Funnel, T Bar, Inverted Triangle
Broad Discussion
Drill Down
Isolate the key issues
Confirm the issues
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Question Types
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Cont.....
More detailed document on the question types and how to use them in the supporting Docs (download)
Active listening is just as important as questioning!
Check your pre research by asking confirmatory and probing questions
Dont be tempted to offer opinions or conclusions at this stage - even if pressed- this meeting is a fact find!
(Questioning Exercise if Time)
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D. The Close
Most important phase: your prospect is at his most receptive!
This is when you go for your stretch objectives!!
Formally draw the meeting to an end with an appropriate statement.
Say what you are going to do next in terms of pulling the material together and drawing some conclusions
Offer to send the material to him/her
Ask for a meeting to discuss it and set a date and time
Go for your stretch objective
Leave quickly and decisively
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Three key topic areas
Preparation
The meeting
Post meeting
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3.Post Meeting
If the first two phase have been executed well, then this is the real added value phase where you prepare the ground for the sales campaign:
a. Diagnostic
b. Analytics
c. Report back
d. Solution design
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a. Diagnostic
The background information should be written up as a diagnostic or in a business plan format
It is useful to document as much as possible because if the prospect becomes a customer you will need an Account Plan
The Account Plan will be a key document for sharing knowledge and communicating with other resources in the future. (it is vital piece of IPR)
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b. Analytics
It can prove useful to try and put together some analytics from the information collected.
This demonstrates understanding and added value to prospects.
Potential Diagnostics:
SWOT
PEST :Environmental Analysis
Force Field Analysis ( bridge to action)
Examples and downloads follow.
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Environmental Analysis (PEST)
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SWOT
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Force Field Analysis
What is Force Field Analysis
What is Force Field Analysis and how do we use one of the great change management tools for managing change in the workplace and for achieving successful organizational change management strategies? Well just about anyone who knows what is force field analysis will say that it works as one of the effective change management tools used as part of the organizational change process and business improvement initiatives. Of the many possible change management methodologies available, as a change management consultant we train clients to use the force field analysis tool to bring the project enablers and restraining forces out into the open. When managing change in the workplace we use force field analysis to assign actions to required activities and to get important things done. It is also one of the great change management tools for achieving effective communication in the workplace and effective business meetings. So let's begin looking at force field analysis, 'a great change management tool!' How do we identify, sort through and deal with the forces that are working for and against us when we are trying to implement any type of change in the workplace? Imagine now we are doing a project implementation. What are the aspects of the business, people of influence, the decision makers, and the systems and processes which are driving and enabling the project to be successful? And who and what are the aspects that are restraining or disabling the project? Generally, regardless of what it is, improved infrastructure, new processes, people, or systems, strategies, and so on, there will be those who want things to remain the same (keep the status quo) and those who are pushing for change. Generally we find ourselves in a negative situation for the business, with these two forces working against each other.
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Issues & actions
In many ways this should come before FFA, because FFA is about how you address issues and instigate change.
Need to produce a list of the potential issues you have identified and their implications for the business.
Include all issues- even ones ultimately you cannot help with.
See next for example.
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Issues/Solutions Summary
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c. Report back
How you do this is very much a matter of personal preference, and the rapport you have established with the prospect.
You can share your analysis and your ideas for solutions before the meeting or you can hold them back.
My personal preference is to share as much as possible to demonstrate the potential value you can add. Delicate balance.
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d. Solution Design
Now the hard bit starts.......
Between now and the meeting you have to develop your solution to the issues identified along with the costs and benefits etc!
But thats another set of skills.....
Defining the costs and benefits
Articulating the case
Gaining commitment
Closing the sale
Etc.
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Summary
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First meeting are difficult for both parties involved!
There are techniques that can help
Preparation is the key. This gives you the key advantage!
A first meeting should take half a day in preparation.
Use the information and tools available.
Spend time planning the meeting.
Conduct the fact find effectively- avoid speculation.
Follow up and demonstrate you can add value and are a valuable business partner.
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Presentation and Downloads
Copy of presentation and downloads:
https://www.box.com/s/dcafiui298zyz4il65w1
Contact
email: [email protected]
Twitter: @mastersassoc
LinkedIn: http://uk.linkedin.com/in/richardmastersj
G+: google.com/+RichardMasters
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