Automation for the Salesperson?

[Tucker]

Anyone had any success in automating your role as a salesperson? I sell services for a fortune 500 company and would love to start a discussion about resources and/or success stories for automating the sales position. Anyone else?

[searstower]

I'm not a salesperson (well, except that every entrepreneur is, really), but have you seen Pursuit of Happyness? In there he briefly talks about how he was able to make more calls between the hours of 8-5 than his peers who stayed late and worked through lunch because he had to go pick up his son from school.

He never hung up the phone receiver. He also went right to the top of the lists they gave him rather than starting at the bottom because the top meant bigger fish and more bang for the buck.

If you use email often, create templates for the top 10-15 questions you get asked about a product and copy, paste then edit so you are doing as little work as possible.

I can't remember what else he did, but it might be worth picking up the book, or making him one of your celebrities to contact with your comfort zone expanding experiences!

Rebecca

[Tucker]

Thanks for the thought. I have seen the movie (great movie by the way), it echos Tim's comments in the book about how he called decision makers at off hours to make more connections. A great point, but unfortunately doesn't do much to automate your role.

I'm thinking more in the spirit of the book, i.e. removing yourself from the daily repetitive work, and using tools and technology to leverage your efforts. Things such as autoresponders and sales templates certainly help, but has anyone actually implemented something like this to remove yourself from the daily corporate sales grind?

[Vacman]

Tucker,

Wouldn't that be great!

I was contemplating the same idea, right now my "job" is to prospect to large organizations in the central and east coast regions regarding accounting software.

This basically is cold calls/cold emails all day long. Very similar to the job Will Smith had in The Pursuit of Happiness.

I've been doing this for a year straight and lately I've lost the "fire" and I'm trying to find a way to automate, or tremendously increase the overall efficiency of the process.

Anyone with good ideas, and I'm all ears!

Thanks!

[Drewkerr]

Tucker,
I am in sales and have been reading the 4 Hour Work Week. I am starting an automation process for myself. I am a mortgage broker. I am hiring 5 stay at home moms to be sales people for me. I am offering them a 20% commission (standard is 50% for licensed loan officers in my area) for simply networking with their friends, family and people they know from PTA and such. All they are required to do is let everyone they know that they are in the mortgage business and if they know someone who is going to be buying a house, they just get them to fill out a two page application. After they sitdown with their friend or aquiatance they email or fax the info (my faxs get dumped into my email so i don't have to be in the office to get them). I have my in house assistant pull the credit and input the information into my software. So all it leaves me with is about 20mins of prep and a sales call to go over a product and rate.

I have my first stay at home mom starting next week, and it should go pretty good. This will make me less money per transaction but is a way for me to have the whole front end of the sale process automated and done by "assistants" to help free up my time.

[Drewkerr]

also it should allow me to do more transactions per month due to not having to do any prospecting.

[Tucker]

Great start Drew! I am anxious to hear how it goes. I'm sure you will learn a lot through the process. Bravo on taking some creative steps.

The closest existing material I've found on the topic is from Frank Rumbauskas, you can find him on Amazon.com. He has a book entitled "Never Cold Call Again". Not a bad start on the topic, but also not exhaustive. I actually bought his info product that was released before the book (and much more expensive!), but I think the book goes over the same principles. It does touch on some ideas about automating the prospecting portion of sales, which as we all know is very repetitive, time consuming, and BOOOORRRRIIIIINNNGGGG!

The most difficult part is getting the corporate big wigs to think outside the box and let us sell creatively. They're still in the dark ages, worried about sales funnels, setting appointments, etc. Enough already!

[Vacman]

Uh oh!! :)

I just read that book "Never Cold Call Again"

I thought it had a lot of good points in it.

One of them being, that you should get your own website, and newsletter, and basically build a prospect list that way.

Also it goes under the give before you get principal.

Anyhow!

I just set up my website and newsletter, and sent out a mailing to some 1,000 people who we have talked with in the past.

Anyhow... I did that last night right before I left.

Now the first thing this morning my manager comes over and gives me a talk... he's confused, does not know what to do.

Now I probably will have to talk with his manager about the deal...

Wish me luck! :)

Here's the site: www.MyApWorkflow.com

[Tucker]

Awesome Vacman! I love the fact that you took the initiative and built that site. My guess is if you show some results from the site and newsletter, your managers will be happy to let it continue. Perhaps you could use the Timothy Ferris tactic of the "trial run". Ask your managers to test the results for one quarter, and review at the end of that period. If results are positive, continue. If not, no harm.

[Vacman]

Well...

Just had the meeting.

They "liked the idea" thought it was "cutting edge" and wanted to "leverage it as much as possible" one of the managers said that he'd like to "mandate it."

The problem?

They are scared, and want to sell the idea to even higher up management who oversees PR and also Website development/content.

Basically, they want permission before they will allow me to "have the site."

For the moment, I'm shut down... "technical difficulties" aka "they made me take it down"

check it out: www.myapworkflow.com

I'm encouraged and discouraged at the same time...

Hmmm... what to do?

[Drewkerr]

Try to get the meeting with the "higher ups" and do like Tim says and pitch the "trial basis" idea to make them feel like they have control.

[GatsbyGirl]

I am also a mortgage broker and I was in the process of trying to figure out how to automate when I found Tim's book. I have a website and an ebook that generate leads for me nationwide. I have a loan officer that I will now turn over all of my residential leads to for 40% of the net profits.

I have another loan officer that I turn my commercial leads over to for 1% of the loan amount.

I am developing a product funnel based on my ebook that I will automate using outsourcers. If it all goes according to plan, I can make just as much as I make now with less headaches and by working less than 10 hours per week.

At first I did not think I could do it as I am in a service business but then I remembered that I oustourced everything the exact same way when I broke my leg in 2005. I was on the couch for 1.5 months on Vicodin recovering from surgery, etc and I made as much as I made at the office in the months prior.

[Drewkerr]

Alright GatsbyGirl,
Another mortgage broker. We need to stay in touch and keep each other update on the D.E.A.L. process.

Drew

[GatsbyGirl]

Yep. Where are you?

Are you considering any product development and sales?

[Drewkerr]

I'm in North Carolina.

I have been considering some sort of product/information to sell. The past two weeks I have been focusing on putting D.E.A.L. into place for my business. My friend and I run a mortgage company. I have put a lot of Tim's ideas/suggestions into place. I have gone from 30 hours a week of just strictly Management (everything form training, helping LO price loans, to the accounting) down to 2 to 4 hours a week. I also stopped working on Fridays. And now the big thing I am working on is my personal sales. I am still working on this part, about 20 to 25 hours a week, and trying to reduce it to only about 5 hours a week and still be able to close on average 7 to 8 loans a month. I think I should be down to that goal by the end of June or July. Once I get more time free'd up I will start working on a muse/product. This way I will have multiple streams of income: business profit, personal sales (100% of fees generated on a loan) then an additonal muse.

[Drewkerr]

I did check out the mortgage secrets for real estate investors, that was pretty cool. So the price is $37 for the e-book? How many have you sold? Also are you doing any sort of advertising or is it all SEO?

Drew

[GatsbyGirl]

Nice. I just turned over all of my residential origination to one LO. And I have a referral partner for commercial so I can just refer the leads for whatever my fee agreement is for (usually 1%).

My goal is to focus on building the information marketing side of the business using Mortgage Secrets as the foundation. I just hired a graphic designer (in France!) today to do all of my graphic design web and print.

Now I am advertising on elance for a PR rep. to promote the info products and get some speaking gigs.

I would like to outsource the whole product development piece (ghostwriting) but I'm afraid I'll get crap because it is so specialized.

I advertise on Clickbank so it's promoted by affiliates all over the world. In fact, the designer that I hired today says her brother is promoting my ebook in the UK. CRAZY!

I do a combo of SEO and PPC. I'm having a hard time getting targeted traffic via PPC so I turned off the campaigns for a while. I clear about $600/mo from just the ebook.

My goal is to work no more than 5 hours a week in the mortgage business itself. Then do one seminar per month (total 8 hours) to promote the automated product sales.

I have MANY other muses in the pipeline. I'm a serial entrepreneur at heart. One is a niche nutritional supplement, and the others are just affiliate websites for niche markets that are not very competitive.

I also have a great idea for a brick and mortar store that can easily be franchised but that will require capital and partners.

This stuff is pretty exciting. Once the revenue is coming in from the muses, I will be lying in a hammock on the beach writing my screenplays and memoir.

[HalfSwede]

Hey Drewkerr and GatsbyGirl:
You both mentioned being mortgage brokers. It is a field I have considered getting into, figuring at some point I could make good money, work a few hours per week, outsource substantial parts of the work, etc. I know I would have to pay my dues, but figure by the time I hit 50 I could be living the 4 hour work week.

That said, could you both provide a brief overview of working in the mortgage business? What do you feel is the best way to get started? How many hours (years?) to put in to learn the business? Income potential? Is it generally 100% commission or can you find other arrangements? If commission, what does one typically earn per transaction (e.g. how much on a $300K mortgage, or a $500k mortgage). Anything else you can think of would be most appreicated.

Cheers!

[Drewkerr]

Well make sure to get Gatsby's opinion but i consider the mortgage business something very difficult to learn. The hard thing about the business is you can't learn all there is to learn in a class or training. A lot of it is trial and error, and there are so many different scenarios that until you come across one there isn't a way to know about it unless you experience it or see someone have the same scenario.

If you can do basic sales, and are good with people you should be able to do fine.

Average commission depends on what you want to charge. All my LOs have a minimum of 2% to make on any transaction. So on a $300,000 loan that would be $6,000 in gross revenue. Then you would get your split of that. Average split I have found in the industry is about 50%. Some people will pay a lot less, espically if you are new, and some will pay more. A lot of the split will be based also off of other incentives, office location & amenaties, support, and leads that are provided by the company.

[Feumet]

Well...

Just had the meeting.

They "liked the idea" thought it was "cutting edge" and wanted to "leverage it as much as possible" one of the managers said that he'd like to "mandate it."

The problem?

They are scared, and want to sell the idea to even higher up management who oversees PR and also Website development/content.

Basically, they want permission before they will allow me to "have the site."

For the moment, I'm shut down... "technical difficulties" aka "they made me take it down"

check it out: www.myapworkflow.com

I'm encouraged and discouraged at the same time...

Hmmm... what to do?


Too bad...what program did you use for your drop down? Liked the concept!

[fmichlick]

Something that you might have considered already, but here's a few ideas for "after the sale" that can be outsourced and might help to increase business:

create a referral program for your customers
send follow-ups & birthday notices
create a partnership with home renovation/designer company or network to refer your clients to after they close on a home


Just some things that came to mind when reading this thread.

/Frank

[GatsbyGirl]

The mortgage biz can be tough to learn. If looking to go to the 4 hr work week, I would steer clear of service businesses like mortgages.

I have a training program for loan officers and broker to teach them how to break into the investor loan niche (my niche) but they have to have some experience first.

[Vacman]

Well...

Here's a quick update to those who care.

My 2 closest managers had liked my website idea but were scared to implement.

So I went their manager directly and told him what I did. (He just got back from vacation, so I couldn't go to him earlier.)

He also does not know what to do and said "If we were a smaller company I think this would work great, I just don't know how this would fly, and we have to be really careful about what gets shown out there in the world publically."

He said that we can't try it right now, but that he'd figure something out and get back to me.

Sounds like I'm getting the run around...

[Drewkerr]

Yeah thats tough. Thats why I like that Tim say don't ask for permission just be good and being sorry & a ass kisser.

On the other hand, this could be the perfect opportunity to go work for a competior. Take everything that you know in your trade/job and then pitch your new way of doing things with a competior and explain how it can help give you the edge & by being hired (at possibly hire rate of pay and a remote work agreement) would give the new company the edge?????

Just something to think about.

Drew

[Drewkerr]

Also a lot of times you can get confidential interviews with a competior, if so at the very least you can pitch the idea and have no harm done if they don't bite.

[Vacman]

Drewkerr,

Yea I completely agree with Tim's do it first ask for forgiveness later attitude.

That's exactly what I did, but I got caught. It appears that in my mass mailing one of the people forwarded my message to a customer and that got back around to my managers and then *poof* my plan got halted in it's tracks.

I could go work for a competitor you are right! Although, in this industry no one comes close to my company, and I'd be loosing a lot of deals based on that fact. Basically, I work for the best company in the industry right now, and moving to another company would be a step down.

That being said, I think what I really need to do is to get my muse up and running, and get out of the rat race.

Who's with me!!?? :)

[BrianDale]

A few points:
1) "Automated Sales" are passive by defination...and not as highly interactive...you are depending on the need of people to come to you, and as such, you cannot specialize your "pitch" to the individuals' needs without some expensive programming.

2) If you have ever read "How to Market to the Affluent" and other books by the author, you find the greatest success is the people who specialize...find a narrow and deep market and use it as the base...the concept of being everything to everyone is a $$$ intensive and effort intensive strategy...and has caused the failure of many businesses...note how Tim specialized in "BrainQUICKEN" and the "BodyQUICKEN"... Find the narrow, deep niche and specialize your pitch and offer the hi-touch option of human interaction (we love to talk to people during our decision making...especially when we want to buy)....

[PeteBain]

This is great info guys. I'm an outside sales rep that needs to be in front of the client.

I would like to know more info on hiring (marketers) to go out and help line up appointments. I like the idea of hiring 5 moms. What has the result be so far?

Do you have a problem with them using the right lingo?

Thanks

[Drewkerr]

Well out of 5 moms I have one that is actually bringing in business. She is very active in PTA, and her community so has a broad range of contacts.

She basically fills out the preliminary application, get SSI, and basic income docs, then I call back to qoute a rate and loan programs. So not too bad.

But that is the biggest part of sales that deals with service not a product. It can be hard to get "big" in a sense just by yourself. Team building is the way to go.

Drew