Recruiting Trailblazers
Kate Butler: Business Development Strategies for Today's Wavering Economy
Fri Jul 14 2023Description
The episode covers the impact of the tech recession on the staffing industry, effective sales strategies and mindset during challenging times, building meaningful relationships and engaging prospects, effective outreach strategies and follow-ups, strategies for overcoming rejection and disappointment in sales, and keys to success in sales and performance improvement.
Insights
Demand for staffing industry has dropped due to tech recession
Large enterprise clients have reduced demand by as much as 50%, affecting IT staffing firms. However, some industries like commercial construction are still doing well.
Having the right mindset and drive is crucial for sales professionals
Mid-market agencies with strategic relationships are faring better than smaller boutique agencies. Salespeople should focus on new business development and leverage their innate strengths.
Effective business development requires good habits and tailored strategies
Developing good habits is important for effective business development. Different sales strategies should complement individual personalities and strengths.
Building meaningful relationships and engaging prospects
Sales training should focus on getting in front of new buyers. Creating a planned persistence model and organizing buyers by content can help build meaningful relationships. Using embedded videos in emails can generate curiosity and provide insights into prospect engagement.
Effective outreach strategies and follow-ups
Embedded videos in emails increase curiosity and engagement. Emotional intelligence, humor, and relevancy are important in persistent outreach. Focusing on one buyer persona and using LinkedIn as the first point of contact are recommended.
Strategies for overcoming rejection and disappointment
Organizing prospects into meaningful conversations and addressing pain points are key. Embracing rejection and managing mindset are important for success in sales.
Keys to success in sales and performance improvement
Great salespeople overcome rejection quickly and set inspiring goals. Building a strong connection between hard work and goals, capturing metrics, and maintaining resilience are crucial for better performance.
Chapters
- Impact of Tech Recession on Staffing Industry
- Sales Strategies and Mindset during Challenging Times
- Effective Business Development and Sales Strategies
- Building Meaningful Relationships and Engaging Prospects
- Effective Outreach Strategies and Follow-ups
- Strategies for Overcoming Rejection and Disappointment in Sales
- Keys to Success in Sales and Performance Improvement
Impact of Tech Recession on Staffing Industry
00:05 - 07:41
- Demand for staffing industry has dropped by as much as 50% in large enterprise clients
- IT staffing firms are struggling due to the decline in volume
- Some industries like commercial construction are still doing well
- Tech recession is affecting sales in the industry
Sales Strategies and Mindset during Challenging Times
00:05 - 07:41
- Mid-market agencies with strategic relationships are faring better than smaller boutique agencies
- Having the right mindset is crucial for sales professionals during this challenging time
- Being present and focusing on new business development is important
- Taking the strengths assessment can help build a sales strategy around innate strengths
- Drive, or the desire to win, is essential for success in sales
Effective Business Development and Sales Strategies
07:20 - 14:57
- Developing good habits is crucial for effective business development
- Different sales strategies should complement each individual's personality and strengths
- Prospecting tactics like cold calling and emails are not as effective as they used to be
- Using video can be a powerful tool for salespeople with relationship-building strengths
- For those with strong learning or strategic abilities, focusing on understanding customer problems is key
Building Meaningful Relationships and Engaging Prospects
14:28 - 21:26
- The focus of sales training should be on how to get in front of new buyers
- Salespeople should create a 10-week planned persistence model to reach out to potential clients
- Organize buyers by content and use platforms like LinkedIn or Zoom info to find relevant contacts
- Building meaningful relationships requires time and strategy, not rushing for immediate results
- The conversation is focused on attracting attention and engaging prospects at the top of the sales funnel
- Using embedded videos in emails can generate curiosity and provide insights into prospect engagement
Effective Outreach Strategies and Follow-ups
20:59 - 27:36
- When using embedded videos in emails, it increases curiosity and engagement
- Prospectors can see how much of the video was watched, allowing for more personalized follow-ups
- Using emotional intelligence and humor can help soften the pushiness of persistent outreach
- Focusing on one buyer persona helps capture valuable information and tailor messaging
- The biggest mistake in a first message is having a forced motivation to get meetings rather than providing value
- A well-crafted LinkedIn message should be the first point of contact, followed by a phone call or virtual meeting
- Cold calling can still be effective when done as a follow-up after initial contact on LinkedIn or email
- Relevancy and trust-building are key factors in successful follow-ups
- Scalable personalization targeting similar skills, geographies, industries, etc. can be effective in outreach strategies
Strategies for Overcoming Rejection and Disappointment in Sales
27:27 - 34:12
- Create a hot list or tear sheet of 10 names with similar roles and use a persistent strategy
- Organize prospects into meaningful conversations based on buyer personas and industry focus
- Become deeply interested and curious in the prospect's business challenges
- Address actual pain points and provide evidence-based solutions
- Connection request first is recommended, but motivation is key
- There is dignity in sales, manage your mind and attitude
- Embrace rejection and disappointment as part of the journey to success
Keys to Success in Sales and Performance Improvement
33:45 - 37:51
- Great salespeople are defined by their ability to overcome rejection and disappointment quickly
- Setting inspiring goals helps in dealing with rejection and disappointment
- Building a strong connection between the hard work and the goal is important
- Constantly feeding ego and self-esteem is crucial for better performance
- Capturing your own metrics helps in improving performance
- Resilience requires inspiration from within oneself and defining principles
- The recommended books are StringFinder's book, Atomic Habits, Dopamine Nation, Gap Selling, and Fanatical Prospecting