In this episode I'm discussing the ‘Coffee Cup Close’ 5 step sales process to help you get more clients – with entrepreneur, software creator, agency owner and founder of multiple businesses, Zach Anderson.
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I'm actually a college dropout who turned into a serial entrepreneur. Most recently I started a company called Reputation Loop about five years ago, and we sold it in February, 2019 to a private equity firm out of Silicon Valley. This is actually my second company that I've sold in the last 12 years. So I really like building things. I utilise a lot of systems and process doing that and just creating businesses is kind of what I enjoy. I'm not from a formal education background or anything like that. So I just put hard work to the test and figure it out as I go.
Since I sold Reputation Loop, it gave me a chance to actually sit back and reflect on what I enjoy about everything and what I'm doing. So I'm just getting right back into it and building a new piece of software, called Ringbot, that's kind of designed around the same concept. All of the software that I build is designed for marketing agencies to white label and then sell to their customers.
So I'm just building another platform that's focused around that and more into the lead generation or conversion tactic for local businesses – or pretty much any website that accepts phone calls. The new software is about putting call widgets and things like that on websites, so that when people are in their most opportune time to engage with the actual business, they can be encouraged to actually contact them at that time so that you can increase your conversion rates.
- Before we dive into the ‘Coffee Cup Close’ sales process to increase conversions, can you tell us your backstory please?
- Tell us about your current business interests?
- OK, for 20 years you’ve been using the same documented 5 step sales process to close new business – let’s go through each step:
- A phone call or form fill comes in – you use a scheduler to set a time to go through your sales presentation on Skype or Zoom, and you can include some pre-screening questions
- The presentation – your slide deck is 20 slides long, and educates your potential client on your service process and benefits – then discovers their business goals
- Proposal – you send a generic proposal with a video screen share going over the main points – and also send some testimonials
- Next day, you email asking if they have any questions about your proposal – and on the same day you send a handwritten note with a Starbucks gift card inside
- Ask for the sale – 9 times out of 10 they get back when the handwritten note arrives, at which point you ask for the sale
- You tweak this system as you go along to increase conversions don’t you?
- Why is having a documented sales process so important – it gives you confidence doesn’t it?
- Thanks for coming on the show, can you remind us where we can find you online?
- The PS Question (subscribers only) – Zach shares a great answer to my final question…
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Key Show Quotes
Having a documented sale process is important so you have something to rely on. This helps you build confidence naturally because you're taking them through this process and even if you suck at it at first – you know what you're doing and are not fumbling. You're not sitting there not knowing what questions to ask, and not knowing how to take them down this sales path.
I never understood this, but so many times people don't ask for the sale. You have to do it over and over again to get confident, so when I get them on the phone I'm like: “How did everything look, when are you going to send over the credit card information? I can take it over the phone right now. Do you have any questions? What are your objections?” You've just got to hammer this out and have them tell you yes or no.
I almost get to the point of: “Do you want to work with me or not? I need to know because I want to move on and if this isn't the right fit then it's not a big deal. We can each go our own way, but I don't want to keep wasting your time.” So you've just got to flat out ask for the sale. And so many people don't. It's weird – it's almost like people are afraid of actually getting the sale because then they have to actually work. But what's the point of putting all that effort in without actually going in and saying, “Hey, are you going to work with me or not? Yes or no?”
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