Posts Tagged ‘prospecting’

Impressions from IncentiveWorks – Part 1

August 23rd, 2010. Written by Doreen Ashton Wagner

Last week I attended IncentiveWorks, Canada’s largest event dedicated to the meetings & incentive industry. Since I spent 14 years in Toronto, this event is always a “homecoming” of sorts for me; a place to see old friends, colleagues and clients.

Just for fun, here are a few musings, findings and observations from the event:

Canada Rocks!

Canada Rocks was the official opening party for IncentiveWorks. For the fifth year, this was also the main fundraising event for the MPI Foundation Canada.

The event was held at a nightclub formerly known as Schmooze, which clubcrawlers.com as “a destination of choice among the 25-35 crowd that loves to party, dance and let loose.” Attendees had been urged to wear red and white and Canadian or not, many came with the requisite attire.

MPI Foundation chair Joe Nishi welcomed the 500 plus crowd like a true rocker: wearing shades and strumming an electric guitar, Nishi introduced night’s main attraction, The Sam Roberts Band. Caesars Windsor sponsored the 75-minute performance by the multiple JUNO Award winning group, whose hits include: “Where Have All the Good People Gone?”, “Hard Road”, “Brother Down”, “Them Kids” and “Detroit 67″.

Olympic Gold-Medallists hockey stars Becky Kellar and Jennifer Botterill were on hand to meet Canada Rocks participants, as special guests of the Olympic Voice Program.

Another attraction of the evening was the silent auction, featuring prizes such as a four-night stay at the Wyndham Nassau in the Bahamas, two return flights anywhere Porter Airlines fly, a Flip Video from the Ontario Marketing Partnership and a GPS from the Allstream Centre.

Once the band started, there was little choice but watch and enjoy the Asian-themed food (stir-fried noodles, sushi, and Thai hors d’oeuvres). The music was great, but no longer being in that ephemeral 25-35 age group, I found it a little too loud for my liking. There was a much quieter lounge on the club’s roof top, but I only heard about it the next day. Too bad signage did not point the way to a stop where people could have a chat and network…

Tags: business development, IncentiveWorks, lead generation, meetings industry, prospecting, tradeshow
Posted in Hospitality & Meetings, meetings industry events | No Comments »

Reaching Meeting Planners in a Saturated Marketplace

July 23rd, 2010. Written by Doreen Ashton Wagner

On Thursday, July 15, SPIN Planners ran a webinar titled, A Rare Look Inside the Buying Process of Senior-Level Planners. Participants included third-party meeting planners Kimberly Ruby, CMM, of Ruby Meetings, Blanca Diaz of BND Meetings. Association planner Stefanie Simmons of IAAM. Moderating the discussion was Shawna Suckow, CMP, the Founder of SPIN.

Here are their recommendations on how hotel, CVB and other meeting industry sales representatives should reach out to planners like them:

About cold calling: while all planners universally hate pushy, “telemarketing”-like cold calls, they admit that the telephone is a necessary tool of business. Do your homework, they advise – which means make sure you’ve checked out the types of meeting and destinations they have executed in the past. They also warn to make sure you ask permission when starting the conversation.
A pet peeve: cute, but useless giveaways and leave-behind gifts, said Kimberly.
Because of their frequent business, all panellists report having close relationships with national sales office (NSO) reps. In their opinion, CVB reps are not visible enough and don’t convey the often free services available through their bureau.
About industry events and supplier receptions: planners will attend your event if it is in an unusual or new venue, or features a new food or theme, asserted both Blanca and Stefanie.
About familiarization trips: “no more fams without an educational component!” they plead. Optics are such that planners must justify fams to their bosses and clients. Suppliers should include at least one educational opportunity in their program, and consider giving Continuing Education Units (CEUs) from a provider approved by the International Association for Continuing Education and Training (IACET).
When asked by this author about regular, old-fashioned mail, panellists admit they open hand-addressed mail or other unusual, personalized email. Shawna recalled a speaker at a past MPI event who asserted that “lumpy mail gets opened.”
Be careful about email: Mass eblasts seem too impersonal, panellists said. But a direct, personalized message inquiring about interest or through a group on LinkedIn is OK. One supplier suggested sending an Outlook appointment, requesting a phone appointment. Even if it’s “at the planners convenience” planners judged this to be intrusive and even “creepy.” Says Kimberly, “being a planner, I’m a control freak. I want to choose when I speak to a new supplier.”
How else should a supplier get known to planners? Be visible at industry events, volunteer with industry associations such as MPI or PCMA.

Not quite earth-shattering advice, but the good news is that business is picking up. And those suppliers who find ways to balance personal touches and a professional, consistent approach will be successful.

Tags: business development, direct mail, meetings industry, prospecting
Posted in Hospitality & Meetings, best practices - sales, marketing to meeting planners, meetings industry events | No Comments »

When Is the Best Time to Prospect? Everyday!

July 7th, 2010. Written by Doreen Ashton Wagner

Being in the business of creating business development campaigns for hotels, CVBs, and other meetings industry suppliers, I often get asked, “when is the best time to call prospects?”

I used to want to answer this question with empirical data. I had read some studies which indicated that calling between 4 and 6 p.m. lead to slightly higher connection results. In 2008 we measured our connection rates and found that, in Canada, we connected with more meeting planners in the summer months and from mid-November to mid-December than at any other time of year. Our assessment at the time was that planners seemed to be in their office (and not travelling, or attending meetings). Even if some were on vacation, they often were more willing to have conversations shortly after their return.

Since the economic downturn, however, I have revised my tune. Just like trying to time the stock market is often a recipe for disaster, waiting for the “best time” leads salespeople to make up all sorts of excuses and never pick up the phone. Successful salespeople prospect consistently. They know it’s always a good time to call prospects.

One of the best resources that drove home that point for me is downloadable poster called “Everyday” from sales blogger Paul Castain. You can download it for free at http://yoursalesplaybook.com/free-stuff-from-uncle-paul/ .

His insightful observations inspired me to re-write it for meetings industry sales representatives:

Everyday . . .

A new business is born that requires a venue for their company launch.

An “accidental planner” is asked to plan the next meeting and he/she needs your help.

A sales rep goes M.I.A., leaving a jilted planner ready to be wooed.

A business moves into your area, needing a nearby hotel for their visiting employees and clients.

A new meeting planner is promoted and is looking to make a name for him/herself.

That old decision-maker, who used to favour the hotel across the street, may have left.

A vendor screws up the client’s conference, creating an opening for you.

A supplier takes the client’s next event for granted, creating opportunity for you.

A rep fails to offer an idea that you have that could improve your prospect’s meeting.

A meeting planner just doesn’t like their sales rep.

A buyer feels like they have to continually “babysit” their convention services vendor.

A planner is managing too many hotel/supplier relationships and needs a “one source solution.”

A planner hates the contracting (and invoicing!) process with their convention hotel.

A planner wants to deal with a travel supplier who isn’t just about the commission cheque.

A planner feels like they are over paying for the AV services they are getting.

A rep misses the RFP deadline.

A rep fails to communicate convention centre construction news, giving you an opening.

A volunteer committee needs the benefits of your CVB services to help them streamline their site selection process.

An association needs to improve meeting attendance . . . your idea can help.

A company needs happier customers, employees and shareholders . . . your venue is a perfect spot for their event!

A buyer wishes they could find a caterer that would “get it right the first time”.

A referral from the group that just checked out is there for the taking . . . you need only to ask for it!

A “low ball” competitor can’t sustain quality in their service delivery.

A sales rep gets caught in a lie and loses credibility.

An existing supplier implements some stupid, non customer friendly policy.

A competitor raises their rate, making the planner re-evaluate their site selection.

A planner needs to find out about your awesome new resort to make them look like a rock star!

A planner gets FED UP with surprise extra charges on their hotel bill!

As Paul instructs us, “Our job is to find these people!” Happy selling!

Tags: business development, cold calling, lead generation, meetings industry, prospecting, referrals, sales tips
Posted in Hospitality & Meetings, best practices - sales, lead generation, qualifying prospects | 3 Comments »

Only a Few “Good” Hours Per Week to Prospect

June 7th, 2010. Written by Doreen Ashton Wagner

Being in the business of creating business development campaigns for hotels, CVBs, and other meetings industry suppliers, we often get asked, “When is the best time to call prospects?”

Analyzing this empirically, we can now say the best time to prospect is on Wednesdays between 9:30 and 11:30 a.m. and 2 to 4 p.m. Have a look:

While a year is 365 days, there are only 261 weekdays, though not all productive work days for prospecting.

Since it’s pointless to prospect around Christmas and New Year’s, that cuts out 15 days. Take away 10 federal U.S., three Canadian holidays, plus another five religious holidays, we’re down to 230 days.

All Fridays before long weekends and Tuesdays after a long weekend should be off limits for prospecting. Actually, come to think of it, prospecting should be banned from all other Mondays and Fridays throughout the year because Mondays everyone is grumpy and Fridays no one’s at their desk. Now we’re down to 130 work days.

July and August are a write-off; who wants to do business in the summer? And let’s not forget the week when kids finish school in June, when they go back after Labour Day and off course the week of March/Spring Break. That leaves 84 work days.

Then there are those other fun holidays and miscellaneous celebrations. Who wants to be cold calling on Super Bowl Monday, Valentine’s Day, St. Patrick’s Day, Mardi Gras, or Halloween? Let’s not forget patriotic days like Flag Day and Election Day! Only 77 days left.

The average North American also takes two weeks’ vacation per year, and we all know it takes at least one week to prepare to go away, and one week to catch up after we return. Another 20 works days gone.

Let’s not forget sick days! According to the Society for Human Resource Management’s 2004 Benefits Survey, the average North American is off 11 days for sickness, whether it is for themselves or to take care of someone else. This means we only have 46 days left for prospecting. A meagre 3.83 days a month, or less than one day per week.

Of course on that one day, probably mid-week, we can’t call too early, or over the lunch hour, or too late in the day. Doesn’t it make sense then that the best time to prospect is on Wednesdays between 9:30 and 11:30 a.m. and 2 to 4 p.m.? But with voice mail, meetings and people travelling, is it even worth picking up the phone at all?

OK, by now you know what I’m up to. I apologize to all of you who were looking for the silver bullet solution. It doesn’t exist.

If we try hard enough we will always find excuses why it’s not a good time to prospect. This is a guaranteed formula for no sales! Sure, there are days that are likely not as productive as others to be prospecting, but there are always people looking for a new supplier, no matter what the calendar says. The point is to have a system and to do it consistently.

Do you have any success stories when you reached a prospect at an “odd time” and had a great conversation?

Tags: business development, cold calling, lead generation, prospecting, sales tips
Posted in Hospitality & Meetings, lead generation, qualifying prospects | 3 Comments »

Prospecting is the KEY to Healthy Sales

May 8th, 2010. Written by Doreen Ashton Wagner

Getting our garden ready for the season, tests showed the soil was completely depleted of essential elements for healthy plant growth. I’d grown wonderful organic produce for my family in this plot just last year. How did this happen?

Sales professionals may be familiar with the same feeling relating to their sales productivity. Sometimes we get too busy servicing accounts, to the detriment of future sales. It just takes a cancellation or downturn in the economy to make us realize we don’t have enough in the funnel!

The antidote to those dry spells is feeding your sales process with new business opportunities: prospecting! Yet many account representatives in the hospitality industry love to hate “cold calling.”

Prospecting doesn’t always mean starting cold. It does mean proactively contacting prospects, and on a consistent basis. Block time in your weekly calendar and get creative generating new leads:

Look at your Top 50 client list. Who have you not talked with in the last 30 days? Business is changing at a fast pace these days. Make sure you call to stay informed of your customer’s needs.
Look at the business you had on the books a year ago, two years ago. Reach out to those customers. Even if a group did not have a great experience at your venue, it is easier to win back a past client then win a new one. Besides, maybe that temperamental planner is not with the company anymore…
According to U.S. consulting firm Bain & Co. one of the simplest ways to grow business is to ask satisfied customers for a referral. Find out: who else in your division plans meetings? Which other departments do you suggest I call? If you are dealing with a national association, does your contact know the provincial/state counterpart? Remember to ask permission to use your contact’s name.
According to the Center for Exhibition Industry Research, as much as 80% of trade show leads never receive any form of follow-up. So even if that list of tradeshow attendees is a couple of months old, it’s a great way to start prospecting.
We all pick up business cards at industry or networking events. They pile up on our desk, gathering dust… Time to clean up. Don’t wait until you’ve entered them in your database, call them now. Otherwise, toss them!

Putting leads in your pipeline is THE most important part of sales. If your territory is not fertile with business opportunities, it doesn’t matter how good a negotiator or closer you are.

Do any more prospecting ideas come to mind? Please share them with us!

Tags: cold calling, lead generation, prospecting, referrals, sales funnel, sales tips
Posted in Hospitality & Meetings, best practices - sales, lead generation | 1 Comment »