Connect with us

Bitcoin

Mining Your Account Deck For Gold

Published

on

Which Profile Are You?

In my 15 years in Inside Sales, I’ve noticed a lot of reps struggle with how to approach their book of accounts. To find the great opportunities in any account deck, we have to be like a miner panning for gold. Whether you have 300 or 3,000 leads in your book, chances are only a small percent will be gold, quite a few will be fool’s gold and most will just be rocks.

Most of us fit one of these four Gold-Miner profiles. Which are you?

  1. If I don’t see the gold on the surface, I throw away the rock
  2. I’m going to carry around all of the rocks in case one might have gold
  3. I’m going to methodically study each rock one at a time
  4. I don’t really have a strategy and I’m calling my book in alphabetical order

Let’s agree right now that #4 shouldn’t be an option. Don’t worry if this is you, at least half of our clients have floors doing this when we come in. If you’re not given a strategy, you’ll likely start from the top, right? Don’t worry, you can make a quick change today that will help you like your job so much better tomorrow (see The Quick-Sort)!

When I did sales I found myself in category #3 before I got the hang of it. And although I love great tools, like ZoomInfo, LinkedIn and InsideView, I don’t recommend using them right away. Only take the time to research when you smell the gold (see below – Category A and B leads). The other exception is when you’re working strategic large-ticket deals or calling Decision Makers you might actually connect with today. In the meantime, we’re going to dial the account first – yup, even before we look them up on the web!

Finally, being Miner profiles #1 and #2 can work for a while, but only if we have a manager who doesn’t require territory management, or a marketing department that buys unlimited leads or drives killer inbound traffic you get credit for. Must be nice… and probably won’t last!

If you agree these aren’t long-term winning strategies, here are three simple ideas to start to more efficiently mine your book for gold:

  • The Quick-Sort
  • Qualify First
  • Categorize Your Accounts

The Quick-Sort

This is especially good when you’re first getting started. Make a list of the top five “at-a-glance” attributes of a good lead that you can find in your CRM. Then sort your book to make a prioritized call list. Voila! Attack your book from the top. Here are a few of my favorite quick-qualifiers:

  • A buying history (sort by $ or # of purchases)
  • A marketing / service history (they know about us already)
  • Multiple decision makers are listed – more chance to win!
  • I have knowledge in the industry or territory- easier rapport & success stories

Qualify First

Just like the adage “pay yourself first,” make your first call about qualifying the account instead of trying to reach the decision maker. When you break your work down into two parts (qualify and THEN contact) you’ll get better results faster – and have more fun! I promise, it will also save you months of wasted dials into accounts with zero gold.

The key is to think of two to three easy questions that anyone in the company can answer; these will give you the clues you need. Chances are your qualifiers will have something to do with company size, growth, direction or activity.

Phrase your question in a simple and non-threatening way that is in your customer’s language NOT yours, and is something a receptionist, service or sales rep can answer. In other words, if you need to know how often people use hotels (because you’re selling a travel service), don’t ask how many nights / month management stays in hotels, ask if people there are, “On the road a lot… Out more often than in?” It isn’t always foolproof, but you’ll quickly determine if you smell gold or the account is just a rock, and you’ll avoid wasting months trying to connect with a decision maker only to find out you’ve been walking around with a bunch of worthless rocks weighing you down. Try something like,

“How many people work there?”

“Do you guys all work in that one location?”

“Does everyone have a computer?”

Now Categorize

A good categorization system dictates how hard you work for the gold. Try a simple ABCD system, where A has the highest potential for revenue/profit (however you are compensated) and D is dead.

When you’re done with the qualifying call, categorize the account and start working smarter. This will take over for your quick-sort method now that you have real data to use. Sort your book by the qualification category and attempt “A” accounts at least 10 times (and use those Web research tools!), “B” accounts at least six times and “C” accounts at least three times. Remember, on average, inside sales people quit calling decision makers after two to three calls. Be the smart one who doesn’t throw away the gold and who doesn’t weigh himself down carrying around a bunch of rocks.

Happy mining!

Bitcoin

PayPal Launched a New App for All Digital Payments

Published

on

PayPal Launched a New App for All Digital Payments
  • PayPal has launched a new application. 
  • The app is considered as a one-stop-shop for all digital payment needs.
  • The new app includes both crypto and non-crypto use cases along with a wallet tab.

PayPal has launched a new application. To add, the app is considered as a one-stop shop for all digital payment needs of the platform’s users. 

Back in July, PayPal CEO Dan Schulman said the platform’s app was getting ready for a release in the US. As per the release on Tuesday, the new PayPal app will allow customers to access all digital financial products of the platform. 

Moreover, the new app includes both crypto and non-crypto use cases along with a wallet tab. More so, the wallet tab is to manages the digital asset payments and also high yield savings. Aside from all, PayPal also collaborated with Synchrony Bank, an online bank. Hence, this is to offer high yield savings account through the new app. 

Added to this, the virtual asset payment giant announced that users can get up to 0.4% annual percentage yield on their savings with the new app. Even more, users will also be able to withdraw their earnings from the savings account to the balance in PayPal to utilize in online shopping. 

Other features will be bill payments, cashback, and rebates, also direct deposits. In addition, the latter feature will reportedly allow users to get payments before 2 days. 

PayPal will also add even more features in the coming days. Furthermore, the announcement of a new user app comes only a few days after the firm debuted digital asset trading for customers in the UK. 

Continue Reading

Bitcoin

Binance Customers in Australia Will No Longer Open New Positions

Published

on

Binance Customers in Australia Will No Longer Open New Positions