We help business owners and executives accelerate growth.

The elusive sales honey pot

The elusive sales honey pot

April 26, 2018

I had lunch with a client recently where he mentioned the “elusive sales honey pot,” that asset or process which stands out and irresistibly attracts a steady stream of buyers. We talked about how the way to create it has changed from when he first started as a marketer and salesperson.

Traditional outbound marketing and cold calling to set up prospect lunch and learns made way for inbound/content marketing, social media, and LinkedIn prospecting. Webinars can connect hundreds at a time and deliver quality leads. YouTube and SlideShare can deliver entire presentations to buyers we didn’t even know were prospects, as they do their own discovery without the aid of salespeople.

ABM (account based marketing) vendors are taking things even further thanks to IP address and other identification technology which delivers ultra-personalized experiences to prospects. These platforms can even inform salespeople of next best actions to take with a particular buyer in real time.

In short, there are a lot more ways to market and sell, and this can make things confusing.

Where do you invest your resources? Which methodology is best?

Go fish

I submit that finding the elusive sales honey pot nowadays is a lot like fishing.

There are so many variables.

  • The type of fish in a particular spot
  • Time of day
  • Season
  • The boat
  • Your rod and reel
  • The bait you use

And you can optimize your gear and use charts and study currents and do all that crap and you STILL have no guarantee of catching a damn thing.

This literally happened to me when I went fishing with my sons. We were on the same boat, using all the same bait and equipment and the whole nine yards.

They caught everything. I caught nothing. I WAS RIGHT NEXT TO THEM.

Perhaps I was just giving off the wrong vibes or something. As I kept catching nothing, my frustration level increased and I think the fish literally rejected me. I wasn’t really paying attention to what was happening around me any more and was just hell-bent on snaring any stupid friggin’ fish I could.

Meanwhile, my sons were relaxed, having fun, and in tune with the experience – so they caught plenty.

It goes to show you that its NOT the tools. We were all using the same boat and gear and in the same exact location.

But they were more in the moment and adjusting as needed, while I was kind of going on preconceived notions of what was going to attract the fish to my bait.

I failed. Because I wasn’t “listening” to the fish and the situation.

It’s the same with revenue generation. We all have access to the same tools;

  • Websites
  • Martech
  • Adtech
  • Blogging
  • Social Media
  • Direct Response
  • PR
  • Networking

and we face the same variables;

  • Business climate
  • Product
  • Price
  • Competition
  • Population

yet some catch a lot of fish while others come up dry time after time.

You need to listen

Active listening is what distinguishes those who do well in sales and those who don’t. I would say it’s the crucial element.

  • Listening in person. When face-to-face, salespeople tend to talk a lot. Far too much, in fact. But if you ask the client to explain their pain points and listen actively, they almost always tell you how to close them. Listen for “If I had ______, I could _____.” Or, “I didn’t like ______ about our last vendor.” Or, “Our problem is ________.” If you are talking, you won’t give the buyer a chance to reveal these nuggets of gold.
  • Social listening. Pay attention to what is trending. Look out for people in your feeds who have changed jobs, have announced new products, or are expressing frustrations. These are potential buying moments which you can capitalize on.
  • Listening to the market. Follow business podcasts and business publications. Where are things heading? What challenges are occurring which you can help soften the blow of for companies on your region? If you listen, you can really deliver value rather than be just another vendor.

You have many tools at your disposal to create that elusive sales honey pot which attracts buyer after buyer. But, the tools won’t do this by themselves. Instead, you need to actively listen to see where the “fish” are heading. That way, you have the best chance for some to end up in your net.

I would like to offer you between 3 to 5 personalized tips for maximizing revenue for YOUR specific company. Please contact me at shaun@old.volohaus.com or 760.815.4464 to set up a brief call.

If you like what you hear, maybe we can continue to create a revenue machine together. Otherwise, telling me about your business will be very valuable for me, and the tips valuable to you. Fair exchange! Talk soon!