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Payroll Sales Pro Issue #18--General Ledger Updates as a Selling Feature
May 16, 2016
May 16, 2016
Monday Morning Pick Me Up
Inspiration and Information to start your week right
"Motivation will almost always beat mere talent." - Norman Ralph Augustine
Payroll Talking Points--General Ledger Updates as a Selling Feature
As Norman Ralph Augustine points out above, it’s the people who are most motivated who will make the most sales. Your job, as you meet with prospective clients, is to find ways to create interest in getting a quote for payroll. The connection between the Payroll module and a company’s General Ledger can be a selling feature that you can point out, increasing interest and increasing the likelihood that they will want a quote.
Whenever a company processes payroll, it affects certain entries within their General Ledger, or G/L. Why? Because the G/L is always affected when money goes out (spent by the company) or money comes in (billed from customers). When it comes to payroll, money goes out to pay employees and fund certain benefits (i.e.: Health, Dental, 401(k) etc).
As we discussed in a previous issue, automatic updating of the G/L is actually a reason some companies do their payroll in-house. Not all payroll companies are able to share data with the G/L, but PayPros does.
PayPros, Inc. will create a G/L update every time one of your clients processes payroll, making this another feature to highlight when you are speaking with prospective clients.
All it takes to refer payroll is to obtain a payroll invoice from the client, then send it to us and we’ll take it from there. When the client signs up with payroll, you get paid a residual commission for the life of the client.
Remember, PayPros can typically save them 20-25% over what they are currently paying and they will get a dedicated customer service rep that really knows them and the ins and outs of their business.
Ask them for a current invoice, send it to us, and when it closes you get residual commission for the life of the client.
For more detailed payroll Talking Points tips and information, see Payroll Tips and Techniques
Monday Morning Quarterback
Tips to help you self-audit your sales process
Don't Be Creepy! - The First Rule of Social Selling by Wayne Peterson
1. Social selling becomes creepy when it becomes too personal too fast. If you’ve done business with a customer for five years, you may know each other’s spouses or significant others. You may know the names of each other’s children. You may have intentionally and comfortably shared social activities. In your environment and organizational culture, that may be appropriate and not risk any raised eyebrows. But you need to exercise great caution to avoid the temptation to get too personal way too soon.
2. Social selling becomes creepy when you cannot keep business the focus. Most salespeople have been exposed to old, bad sales training that encouraged them to look around the customer’s office and ask personal questions. Creepy social selling is even worse. Because you can learn so much about a prospective customer, the temptation is great to let the focus slip from business to something (anything) else. You’re making contact in order to do business. Finding coincidental commonalities with the customer can be a positive, but you need to keep the main thing the main thing. In some fashion, you’re approaching the buyer because you believe you can improve her business results in some way. That needs to be the central focus from the very beginning.
Researching both the organization and the individuals is vital now. But the information you should consider actionable is business information. If you learn that the buyer has recently completed a challenging professional certification, that’s an appropriate piece of business intelligence to capture and use. If you learn that the buyer has recently completed successful treatment for cancer, that’s not an appropriate piece of intelligence to use. Period. And yet I’ve seen that misstep made.
3. Social selling becomes creepy when you cross the line into brown nosing. I’ve been on the receiving end of that myself. I’ve had salespeople research me (I’m an easy target) and discover where I’ve made a recent presentation or keynote speech, what I’ve published recently, or where I’ve been quoted. I’ve heard adjectives like “amazing,” “excellent,” and “outstanding" applied to presentations I’ve made when the salesperson wasn’t in the same state, much less in the same room when I delivered said presentation (and when it wasn’t recorded or transcribed.) It’s silly and smarmy.
The message it sends is distasteful in the extreme. It says: “I’m going to ingratiate myself to you with false praise, pandering to your ego, so you’ll be unable to resist my pitch when I propose doing business together.” My reaction is typical: I don’t want a handshake, I want a shower.
Remember my definition: Social selling is the process of carefully building authentic and appropriate relationships with potential customers. I’m encouraging you to exercise wisdom and care to build relationships that have a fighting chance of lasting because they are both authentic and appropriate. Brown nosing isn’t authentic in the least. Excessively personal overtures aren’t appropriate early in the process.
So, what guidelines are appropriate to observe when you’re gathering information and deciding what you can use appropriately and authentically? Let me divide it into three headings: Never, Always, Maybe.
Never: Information you discover about an individual’s religious preference, sexual preference, political affiliation, family, and personal causes. Those are off limits even if you actually share an affiliation or preference with the buyer. Period. Treat the customer as a professional who likely knows how to keep her personal life personal, and her professional life professional. Information about a buyer’s health falls in the same category, as does information about spouses, children, parents and extended family.
Always: Information you discover that is professionally pertinent is important. That’s especially true when you discover it in the context of the buyer’s organization. If the organization is celebrating an accomplishment or honoring the buyer in some fashion, and you have an authentic shared interest or experience, that’s great. But be careful of the temptation to brown nose.
Information you find about the organization that references the role of the individual in the organization is golden. So look for information about an individual that has a professional or an organizational context. Ask yourself: “Is this material to how this person does his job, makes his contribution, enables his organization to thrive?” Industry organizations and associations to which the buyer belongs can be very appropriate points of connection, especially if you discover that the individual is very actively involved. These can be organizations focused on developing the entire industry, a specific professional expertise, setting standards, or developing individuals. When you can legitimately connect your approach with what the individual is doing to “give back” to his or her industry or profession, those overtures can be powerful and welcomed by the buyer.
Common professional interests are also incredibly valuable. For example, if you see that someone has read, liked, commented about, reviewed, or shared a recent article, business book, presentation or Slideshare, that’s a great point of connection if you have genuine interest in the subject. Those can signal parallel interests and parallel values if you’re authentic. If you’ve never read a business book, don’t bother. One of the worst misfires I’ve seen by someone trying to make this kind of connection artificially was the salesperson who was asked what most resonated with him from a book he hadn’t read.
Maybe: Here’s a good example of a “maybe.” If you learn that the individual has changed roles, even if it is an apparent promotion, be wary. Title inflation is rampant in organizations now, especially in lieu of real responsibility or higher compensation. Japanese industry uses the term “window seat” for someone given a “face saving” promotion in order to get him or her out of a position of authority. As baby boomers age and delay retirement, you may encounter one who cannot be separated from the company without risk of an age discrimination suit. Some are being “promoted” into window seats instead. For many, change isn’t a good thing. So notices of changes in role, changes in organization, changes in locations may not be good things in the eyes of the buyer. Be wise and wary. Err on the side of being too careful. What you don’t know can’t help you. That’s why social selling trumps conventional and legacy sales methods every time it is used well. But remember that you’re using information to earn connections, to gain access, and to engage a decision-maker. You’re not looking for a drinking buddy, a travel companion, a golf buddy, or anything similar. So use what you learn wisely, carefully and well to create new relationships that are both appropriate and authentic.
Think you’re ready to earn Residual Commission for the life of your clients as a Payroll Referral Rep? Contact us by calling (888) 693-4611 or filling out the form at Best Business Payroll--How to Make Residual Commission
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