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Sales Prospecting

How Herschel Oppel Leveraged His Job Connections to Boost His Start-Up Sales

When Herschel Oppel left his senior position at Platinum Group to launch his own start-up, he knew that the secret to his success would be his ability to access CEOs at major retailers.

Nadine Todd

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Herschel Oppel

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Vital stats:

  • Player: Herschel Oppel
  • Company: Retail Revolution Group
  • Past achievements: Group MD, Platinum Group (Holders of Jenni Button, Hilton Weiner, Urban Degree, Aca Joe and Vertical Clothing retail brands)
  • Contact: +27 (0)82 559 3004

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In Brief

  • Understanding – and leveraging – corporate pain points
  • Systematic relationship building for B2B sales
  • The art of sales pipelines and the trick of always closing.

Inspire Yourself

Start every year by envisioning what your best year ever looks like. Once you have that, you can set your mission and targets to achieve that year. Without targets, you’re shooting blind, and you’ll never achieve phenomenal sales results. You need to know what to chase.

Related: Before You Quit Your Job, Do These 10 Things 

When Herschel Oppel left his senior management position at retail giant Platinum Group to launch his own retail consultancy, he knew that the secret to his success would be his ability to access CEOs at major retailers. As anyone who has worked (or tried to work) with corporates knows, accessing the decision-maker is difficult enough; holding their attention even more so.

“What’s become apparent is that reputation is key. Most of my industry experience so far was spent at the Platinum Group, and I’m not afraid to use it. I was instrumental in the turnaround of the Aca Joe brand, and that, along with 15 years of management and senior management experience, gives me credibility

I can leverage when asking for a meeting.

“CEOs and senior managers are incredibly busy. Before you approach a retail group or corporate, understand that you’re asking for a slice of very valuable time, so you’d better make the meeting worth their while.

“For me, that means that first meeting is never about the pitch. It’s a relationship builder. I use my contacts, network and in many cases LinkedIn to ask for a chat over coffee. I don’t indicate I have a sales pitch I’d like to share. This is all about the prospect, and sharing my story.

“Once we do meet, I tell them details about Aca Joe’s turnaround, and what I’ve learnt from my 13 years of annual trips to the UK and Europe, evaluating the best global retail brands. The more personal the better – relationships are built on personal stories, and credibility is the direct result of offering valuable ideas, so it’s a two pronged meeting.

“I want the CEO I’m meeting with to walk away feeling smarter and more informed for having spent an hour with me; I want them to return to the office with some new ideas about how the industry greats are approaching their sector, and how they can leverage those ideas in their business. And I want them to feel like they know me, and can therefore trust me.

“Based on this, I then ask for a second meeting, and that’s when I really come prepared. It takes a large amount of time and effort on my part, so I need to be sure that this really is a company that I want to do business with, and that is interested in potentially doing business with me, before I formulate the pitch.

“And then I become a mystery shopper at their stores. The best way to find pain points and devise solutions is to experience the brand. I formulate a strategy based on careful analysis of my personal experiences with the brand, benchmarked against international standards, and with a number of solutions ranging across budgets.

Again, I’m drawing on the first meeting, where if I did my job right, the CEO shared some of his pain points with me, enabling me to understand his business needs better.

Related: 5 Questions Struggling Entrepreneurs Must Ask Before Taking a Job

If I can’t prove the value I’m adding there and then, there won’t be a third meeting. Corporate decisions take time. Show the value upfront, build relationships, and don’t be afraid to leverage your networks and experience.

“At the end of the day, corporates are made up of people, and people do business with people, so be a supplier or partner they can trust.”

Nadine Todd is the Managing Editor of Entrepreneur Magazine, the How-To guide for growing businesses. Find her on Google+.

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Exclusive Offer: Get 50% Off For This Premium Masterclass On Influence And Persuasion

Sales are the life blood of any business and the ability to make sales is a critical component of a business regardless of its size. But one of the biggest ongoing challenges for many entrepreneurs and sales people is to find new business.

Matt Brown

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Special offer exclusive to Entrepreneur Mag readers

  1. Visit http://www.qkt.io/salespersuasion
  2. Just above the “Order now!” button, click on the “Use a promotion code” link
  3. Copy and paste this word in: MATTROCKS!
  4. Now you will see that a ticket is R125 instead of R250

What to expect from the masterclass

Over the past decade, many marketing options have been promoted as “sales prospecting tools” with very limited results for sales people. The reality is that nobody cares about you, your company or your products. They only care about if they can be better off from buying what you are selling.

Understanding how to influence and ultimately persuade someone to buy from you is the secret to sustainable sales success and business growth.

The Matt Brown Show partners with Sales Guru and The Influence Institute for this ‘one of a kind’ show. The expert panel consists of Gilan Gork, Expert Mentalist; Mark Keating, CEO of Sales Guru and Matt Brown, CEO of Matt Brown Media and host of The Matt Brown Show.

Together they will explore the topic of how to use influence and persuasion to get what you want in business.

Why you should attend

Every business owner will agree that in 2018 the ability to make sales is the ultimate game in business. Whether it’s selling a product or a service, knowing how to sell yourself and your ideas to decision makers is critical. With the competitive nature of a business, everyone should be learning more to get a competitive edge over their competitors.

Mark Keating, CEO of SALESGURU had this to say to entrepreneurs: “Do you know what sucks more than cold calling? Being broke”.

Gilan Gork, an expert in influence and the founder of the Influence Institute had this to say about influence:

“People under estimate the relevance that influence has in all our lives. From leadership to sales, from social to personal, and even the ability to influence ourselves in what we do every day in business.”

Who is the masterclass for

The Sales and Persuasion Masterclass is for entrepreneurs, business owners, small businesses, sales teams and anyone who sells a service or product or just wanting to learn how to sell themselves better.

The Show takes place on 4 April at Mesh Club, Rosebank, Johannesburg. Limited seats are available and we advise that you book your seat here today still to avoid disappointment.

“The ability to get what you want in business is a skill that anyone can learn but very few ever master. Understanding how to influence and ultimately persuade someone to buy from you is the secret to sustainable sales success and business growth”, said Matt Brown.

Follow Matt Brown:

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Sales Prospecting

3 Strategies For Closing Sales Without Picking Up The Phone

Cold calls generate follow-up conversations only 10 percent of the time, and lead to in-person meetings less than 2 percent of the time. Use these three strategies to skip the cold calling and get straight to decision-makers today.

Ryan Robinson

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sales-calls

Anyone who’s been on the receiving end of a sales cold call, which is virtually everyone with a phone number, can attest to how annoying these unsolicited sales attempts often are. Even if you stay on the line long enough to hear what the caller is selling, your first question probably isn’t, “Can you please tell me more?”

It’s more like, “How did you get my number?” Or maybe, “Can you please remove me from your calling list?”

Yet cold calling has been a widely used sales tactic for decades, and is often considered a rite of passage for veteran salespeople. But it’s high time for that to change. There are simply more efficient and effective ways to sell products in the digital age.

Time not well spent

Cold calls generate follow-up conversations only 10 percent of the time, according to a Harvard Business Review study. The other 90 percent of the time, they’re most likely alienating potential leads, even the ones who may actually benefit from the product or service being sold.

Related: Have We Lost Our Face-To-Face Sales Ability?

Moreover, not even 2 percent of sales calls lead to an in-person meeting, according to HubSpot research. That means you have to spend a lot of time on the phone before you get the chance to make an in-person pitch.

All of that time spent researching prospects, refining sales scripts and training your sales team to pitch your product on the phone, drives up your cost of customer acquisition immensely. Not surprisingly, HubSpot also reports that cold calls cost roughly 60 percent more per lead than acquisition methods like email marketing and social selling.

Cold calling is an aggressive approach, and today’s consumers don’t want to be pressured into making a purchase, they want to buy into your product and your company on their own terms. The internet has changed how consumers make buying decisions, and buyers now want to be in charge of the purchasing process.

Instead of interrupting customers with annoying sales calls, rely on the following three guidelines to build a better sales strategy:

1Start With Inbound Marketing

The guiding principle behind any successful inbound marketing program is to provide value first and sell second.

If customers understand the value that your company is offering, they’ll be far more likely to do business with you.

HubSpot helped pioneer this approach, and now companies like Sapper Consulting are taking it to the next level where they combine precise targeting and unique, creative email content with the insights — generated by big data to help companies get B2B leads and secure high-quality meetings with decision makers.

A successful inbound marketing campaign is based on a specifically defined audience or a set of customer personas. Companies like HubSpot and Sapper help people target content directly to your personas and establish a voice that resonates with them. According to a study by marketing company Captora, 61 percent of consumers are more likely to make a purchase from companies that use custom content to reach them. Clearly, knowing your audience is key.

Related: Click-2-Call: Securing Sales By Retaining The Customer’s Attention

2Don’t be afraid of public speaking

TED Talks

The popularity of TED Talks and similar forums is evidence of the fact that people want to hear what experts have to say, either in person or over video. But even if you don’t consider yourself an expert yet, public speaking can help you achieve that status.

By speaking at industry-relevant meetings and events, you can start developing brand recognition and a unique perspective on topics related to your business. Plus, you can repurpose speeches as content to use in your future inbound marketing efforts.

A well-delivered speech can be one of the most effective ways to generate sales because you’ll often have prospects in the room when you’re speaking. Grab their attention during your speech, and you’ll likely be handing out business cards afterward.

3Keep an eye on ROI

Content marketing is only effective if you actually use your content. In 2013, SiriusDecisions reported that somewhere between 60 and 70 percent of B2B content goes completely unused. That’s a problem. It shows that many companies are essentially throwing away time and money and calling it content marketing.

Instead of wasting precious resources on your content marketing efforts, clearly define the business objective you hope to achieve with each piece of content you create — beyond page views and click-through rates.

Work to understand the ROI you’re getting out of each piece of content. Quantify your customers’ pain points and create a sales strategy around the solution to those pain points.

Related: 5 Tips To Generate Sales Leads Through Social Media

Thought leadership and content campaigns will also help you engage with consumers and get a better sense of how your content is contributing to sales. Then, repurpose high-performing content and update content that becomes dated to continue attracting new leads.

Likewise, you should keep content that demonstrates your company’s capabilities and other valuable knowledge gated so that you’re not giving away intellectual property — such as industry analysis, buying guides and RFP templates — for free.

Cold calling is a time-honored practice, and it’s likely not going away anytime soon.

But with these tactics, you’ll have much more success acquiring new customers and gain a big advantage over competitors still glued to their phones.

This article was originally posted here on Entrepreneur.com.

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Sales Prospecting

When Your Market Is Declining Fish Where The Fish Are

Shift your focus from barren and ‘over fished’ markets to customers who are looking for the right solutions.

Ed Hatton

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finding-customers-fishing

Just as some anglers forlornly cast their lines into fished-out waters, some companies and sales people continue to focus on markets where nobody is buying any more. Sales and profitability decline and business owners blame downgrades, corruption and labour issues, while their real problem is chasing non-existent sales.

Many sectors in the economy have declined, and suppliers to those sectors will face reduced sales and increased competition. The poultry, steel and mining industries have experienced sharp reductions and face serious challenges. The automotive and manufacturing sectors have experienced reduced volumes, cost cutting and retrenchments. If your primary target market is in any similar sector, and you continue to operate as if nothing has changed, you are taking very high risks.

In some instances, the decline of the target market stems from an event like the horrific massacre at Marikana and the changes that brought to the mining industry. Then you know you need to react, but most change is gradual, and some entrepreneurs may not notice, or shut their eyes to the bad news.

Related: Savvy Sales Skills To Grow Your Franchise Footprint

Others cling to the hope that this decline is temporary, and do nothing. We all love our comfort zones and find many excuses to stay there, and so we sink with the declining market.

Making the right change

Once you have appreciated the problems with your current markets, look for similar markets that are stable or growing. For example, if you sell mining supplies, the construction industry may offer good prospects. Be creative; think how you can use your expertise to supplement declining markets by entering more successful ones.

Focus on high growth business sectors. Perhaps health and fitness, education, green energy or IT services could provide opportunities. Where could you leverage your technology, source of supply and sales processes to enter growing markets?

Look for success stories, there are many, including those profiled in this publication. It is clearly preferable to sell to a company growing rapidly than to one clinging to the edge of the cliff by its fingernails. If you sell business to business, examine the state of your customer’s customer.

If your customer is operating in a declining market, you will follow them downhill unless you take action. Find ways to use your products and services to make them more competitive, to halt their slide and grow at the expense of their competitors.

This is a good time to look deeper into the real needs of your existing customers. While we are selling well, we assume that we are satisfying customer needs appropriately. Are we really doing that? Are there other products or services that would be valuable to our customers? Find out, and then provide solutions.

Get out of your comfort zone

fishi-in-a-basket

It’s easy to say that you should move out of your comfort zone and switch your efforts to more lucrative sectors, but less easy to do. Institutional knowledge, systems, databases, credit records, sales processes and products are all geared to the once-successful industries.

Related: Have We Lost Our Face-To-Face Sales Ability?

Instead of throwing away all of this know-how, it makes sense to adapt the systems and information to new markets in a gradual transition. Start new initiatives by withdrawing resources from the old and using working processes and skills to open new markets.

You are likely to need a core of your operations for your existing markets and customers, but your focus should be on the new initiatives.

Your sales teams may need additional training to work in new areas. They must learn to understand the customers and their needs and adapt to their terminology and business practices.

Continual retention of sales people is a good idea even without change; it is highly desirable if you want to enter new markets successfully. Train all staff who will be a part of that drive, so your whole company becomes capable of delivering great products and even better service to new customers.


Successfully enter new markets

  • Which sectors are similar to yours?
  • How can your current solutions be repackaged for different uses?
  • How can your solutions help customers to be more competitive?

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