Street
Theatre
There is a wonderful clarity to street markets.
Amid the hustle and bustle, the brown paper bags
and the downtrodden vegetables, the crockery seconds
and the dodgy CDs, you can see commerce being
transacted in its most naked form. Call it 'Business
Unplugged'; no PowerPoint presentations, no glossy
brochures, no excuses of 'couldn’t get past
the secretary' – street traders have had
to perfect the sales cycle and compress it into
a real-time transaction.
The man who sold me my most recent set of 'brush-free
paint applicators' has been in my thoughts a lot
this week. In the past seven days, four different
people have said they were worried about the lack
of sales awareness in their businesses.
"It's not our sales people; it's everyone
else." They mean the finance director raising
investment, who can't sell; the professional services
consultant in front of customers every day, who
can't sell; the engineering director creating
technology, who can't sell.
Selling is Life
At least, they think they can’t sell, or
they think it’s someone else's responsibility.
Well, if you are one of these people, I have some
good news and some bad news. The good is that
you can sell; the bad is that you must. Because,
whatever your function or discipline, selling
is life.
This memo is a non-sales introduction to the
sales cycle – the principle steps that ALL
sales go through, some in minutes, some in months.
Whether you’re launching a complex software
product or selling an idea to an investor, follow
them. Even if you don't win - and you won't every
time - the steps will help you identify what you
need to change.
And the reason I think we all have so much to
learn from street vendors is that their business
is pure theatre, and a sale is a 5-act drama:
Act 1 – The Hook
(aka 'the bar stool test' or 'the elevator speech'.
Timeframe: minutes) For street vendors, the Hook
is their advertising. They know they have to break
through your indifference and, in a few moments,
open a crack of interest in your mind.
Think that your business is more complex, more
sophisticated, than selling tea towels or camcorders
(last years model)? Probably is – but you
still need to grab the attention of your customers.
And not just any attention; it must be relevant
attention. In those first few moments, you set
the stage for everything that's to follow. You
have to be relevant, timely and specific to your
business.
You have to make it quick, memorable and utterly
compelling. Test it, and keep testing it, to see
what combination of words gets heads nodding and
pupils dilating. Get a positive response now,
and you’re half way to the sale
Act 2 – The Pitch
(aka 'the presentation' or 'the lunch'. Timeframe:
hours) The pitch is when you begin to set out
your stall, describing the problem you solve,
the way you solve it and the benefits you deliver.
Think about that for a moment. That’s three
slides. Everything else is just padding.
Beware of a major pitfall here. Make sure that
the problems you outline are not too generic.
I learned this the hard way. A few years ago I
pitched to the editor of a major publication.
My first slide began with a list of MAJOR INDUSTRY
ISSUES.
"Hold it right there. Let me guess. Your
next slide says X, the one after says Y, and the
one after that says Z." Er, yes. How did
you know? "Because every vendor in the space
says exactly the same thing."
The answer? To frame the problem in terms unique
to your solution. Don't lose sight of the fact
that the purpose of the pitch is to take the customer
further down the path towards your solution, not
a solution. One of the mantras of professional
selling is ABC – Always
Be Closing.
You should be thinking about how to get to the
close when you’re on your first slide.
Act 3 – The Paper
(aka 'the business plan' or 'the proposal'. Timeframe:
days) Yes - street vendors do go through this
step. "Look darlin'; this is pukka. It'll
cost you FORTY FIVE paaahnds in Selfridges."
He's not asking for money yet – just putting
a stake in the ground to set expectations.
In B2B this isn't the final proposal, but it
is when you document how you'll fulfil the expectations
you set in the pitch. Outline your processes,
numbers, activities, list prices, and all variables.
Move in from the generic to the specific, marrying
the two sides of the equation: the parameters
of the customer's pain, and value you expect for
resolving his/her problem.
When there are a lot of opportunities coming
your way, it's tempting to cut and paste from
other proposals. Don't do it. Customers have in-built
antennae that spot generic text at a hundred paces.
At each paragraph, keep asking yourself: Does
this reinforce my Hook and Pitch? Does this take
the customer further down my path? Does this offer
greater value than anyone else?
Act 4 – The Proof
(aka 'due diligence', 'free trial', 'product
evaluation', '2nd opinion'. Timeframe: weeks)
There is only one purpose to this stage of the
cycle. Make the customer comfortable. De-risk
the risk. Every purchase is a gamble – your
product may not work, your business may not survive,
the tea towel pattern might run in the wash. You
have to prove that you can deliver what you’ve
promised in the first three acts.
Show proof, don't tell. Show, show and show again.
B2B buying is a team event; you'll have to show
multiple actors. Have it ready and lined up before
you take your Hook to market. You'd be amazed
by how many businesses aren't ready to show Proof
when it's asked for. Do you have your happy customers
lined up? Your live product demo? Endorsements
from third-parties? Evaluation copy and licence
ready to be signed?
Act 5 – The Deal
(aka 'term sheet', 'order' or 'contract'. Timeframe:
months) There aren't many variables when you're
buying tea towels. It's different in B2B, so it
takes longer. But street basics still apply; you
have to ASK FOR THE ORDER. And
as you've come this far in the drama, it's time
to haggle how not if.
* * *
Professional sales people hone their craft over
many years. They are the leading lights of the
5-act drama, and deserve their ovations when they
bring in a full house.
Your stage may not be so visible. You may be
playing a 'supporting' role. But for the good
of your career and the success of your 'company',
take a couple of hours to watch the sales workshop
at a street theatre near you. |
