Sangram Vajre, CMO and Co-Founder of Terminus, joins me on this episode.
- Sangram says the biggest single challenge facing sales reps today is trust. It comes from building relationships over time. Business thrives on trust. People buy in trust.
- Pitching and talking about your product do not build trust. Sangram gives examples of daily emails he receives that do not build trust. Personal notes commenting on things Sangram has written can build trust with him.
- Andy recommends The Speed of Trust, by Stephen M.R. Covey, with cornerstones for building trust: transparency of motivation, integrity of actions, competence, and execution. Be clear that you are there to help them.
- 40 years ago Andy did most of his prospecting on the phone, after an initial period of cold-calling in person. Trust can be built on the phone almost as well as in person.
- Andy tells about going on a call with another rep whose passion was expressed by saying “I’m not here to sell you anything, I’m here to help you. I help businesses grow their sales profitably.” It wasn‘t just a line; he believed it.
- If you don’t believe in the product, it’s really hard to sell it with confidence. At Terminus, they bring in customers every month to talk to the sales reps and build their confidence in the product by enthusiastic endorsement.
- Besides confidence in a product, reps need confidence in their own values. Some reps fear being challenged. They need to write values down and share them, so they can defend them. Sales teams need to have shared values.
- Andy quotes Vince Lombardi about your thoughts eventually becoming your character. When you first interact with a potential buyer, they sense your character. First perceptions are strong and sticky.
- #OneTeam is the current initiative at Terminus. The Terminus vision is to unify go-to-market teams. This means aligning marketing, sales, and customer success, at a minimum. Other areas support go-to-market teams.
- Under #OneTeam, sales and marketing share one number. Marketing, Sales, and the whole company share the same exact number. At the weekly #OneTeam meeting they look at Tier 1, Tier 2, and Tier 3 accounts.
- Sales and marketing are separate organizations aligned by number and mission. Both team leaders need to see they are accountable to each other or it is pointless. Bonuses and salaries depend on the number.
- Terminus pays Sales commissions and Marketing bonuses. Will Marketing be brought to share in the commissions? Marketing at Terminus is now responsible for the account. Marketing finds it and Sales sells to it.