25 minutes | Jul 5th 2019

e012- "Transform your sales process from analog to digital"| Ed Bilat with Jamie Shanks, Best Selling Author - SPEAR Selling

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Jamie Shanks is a world-leading Social Selling expert and author of the book, "Social Selling Mastery - Scaling Up Your Sales And Marketing Machine For The Digital Buyer". A true pioneer in the space of digital sales transformation, Jamie Shanks has trained over 10,000's of sales professionals and leaders all around the world.   WHAT YOU WILL LEARN IN THIS EPISODE: The meaning of Social Selling revolution  How Jamie built his firm from a laptop, a stack of business cards and a tank of gas  Top 10 Do's and Dont's for Social Selling  How to incorporate social media triggers, insights, referrals and competitive intelligence into the daily sales cycle    SHOW NOTES [00:15] Introduction [01:26] Business stories that inspire Jamie  [01:38] Building his firm from scratch [03:06] How he got into sales [05:31] Business development engine [06:16] Favorite Sales failure [06:30] Commercial real estate Lesson [08:18] The Importance of Social selling [08:40] Business to Business companies [09:14] Triggers, referrals, insight and competitive intelligence [10:48] Why some companies are yet to embrace social selling [11:00] Fear of change [13:15] The Role of LinkedIn [15:49] Do’s and Don’ts [17:32] The emerging power of video in SM space [19:56] The Art of Storytelling [20:08] Building a storyboard [21:26] The STAR process [22:52] About Jamie’s book, Spirit Selling [23:40] Contact info [24:35] Outro SHOW TRANSCRIPT Ed Bilat:                                                           Jamie Shanks. Welcome to the show.   Jamie Shanks:                               Thank you so much for having me.   Ed Bilat: I'm delighted. Jamie, I’ve been watching your videos from all over the World, exotic places, airports, helicopter, castles. I've been following you for quite some time so it's an honor to have you on the show and congratulations on your new book, Spear Selling. So that's wonderful and would love to hear your story. But before we do this, let me ask you our traditional question, which is, what business success story inspires you and why?   Jamie Shanks:                           The business success story that inspires me is any entrepreneur that has built something from scratch. For me, as somebody who built his company from an idea and a failed consulting practice at that in my first couple years, I am inspired by anyone who is a founder, owner, operator who took a business from zero to millions of dollars. In fact, you know, you can read books about those that have built billions of dollar businesses, I'm less inspired by those that take over businesses more about those that started from scratch. Ed Bilat: Wonderful. Yeah, I watched the video where you described the experience, I believe you were getting married at the same time. Right. And starting the company. So just a total start from nothing. Correct? Jamie Shanks: I mean all I had was a laptop, a stack of business cards and, you know, a tank of gas in my car and that was it. I really didn't understand and it took me years to really understand the financial and operational rigor and acumen necessary to run a professional services company. I had to learn it the hard way. Ed Bilat: Hmm. Wow. That's very interesting. You came to the consulting practice from the sales world, right? So like, you’ve been the director of business development, however, this is different. Right. So how did you even get into sales originally? Jamie Shanks: Well, it was by accident. I didn't want to be a sales professional. So when I was at university, I went to the University of Ottawa. I volunteered at the bank of Montreal, Nesbitt Burns in Canada, Ontario. And then I would spend my time as a volunteer, that gave me a summer job that turned into a full-time job and at the same time finishing my undergrad degree. So what I didn't realize, my dream as a kid was to be a stockbroker. I mean I did job shadow days at the stock brokerage firms. This is all I ever wanted it to be. And then in 2000 when the market collapsed and I was an investment representative, I didn't know that a stockbroker is actually a self-professional that advises on, you know stocks that are out in the market but also advises on stocks that the bank has underwritten and their job is to sell the inventory that the bank owns. Nobody told me this. So what I didn't realize is I was already a sales professional, just, I was like a wolf in sheep's clothing or whatever that saying is. Anyways, I left the bank and went on to do my master's degree and when I came back, the only company that would hire me or the only role that people would hire me for was a sales role because they said, well that's your previous experience. What are you talking about? I'm not a seller. And anyway, so I felt … Ed Bilat: Interesting. So obviously not expecting to be a full-time sales professional. So what was your major challenge earlier on moving into this? Jamie Shanks: I can tell you what my major strength was and then I'll work backward to everything else being the challenge. Ed Bilat: Sounds good. Jamie Shanks: So what I discovered about myself, I've always been a talker. When I was in high school, I owned a landscaping company. I make other people cut the grass and I just went door to door to win customers. So I had a neat skill of making feel people feel comfortable, creating a business opportunity for myself. So my strength, when I started in commercial real estate, it was a hundred percent commission I was really good at booking meetings, creating opportunity. I wasn't as great at the follow-through and actually doing the real estate transaction. I started partnering internally and I would become the business, development engine in a group of corporate real estate brokers. one person would maybe manage the customer, one person would do the real estate transaction and my job was business development. At that time business development was primarily done via telephone and face to face meeting. And so I could cold call the daylights out. I get to burn the phone up with cold calls. I was just strong at this. Ed Bilat: Yeah, the analog way, right. Jamie Shanks: The analog way. So every other skill became my challenge. Ed Bilat:   Hmm. Okay. So do you have a favorite sales failure? Like can you give us an example of a failure which was actually a good lesson for you? Jamie Shanks: I have a story that I'll try to shrink down to podcast level, but essentially when I was in commercial real estate, I won a mandate, which means the opportunity to work on a piece of business for a large industrial company that wanted to build a building and the commission from this deal would have been enough to pay off my master's degree and buy me a house. Like it was massive. The long and the short of it is, the day that the landlord and my customer and their investors met to do this deal it turned into an all-out fistfight. And what happened was my customer… Ed Bilat: [laughs] so this is a closing appointment? Jamie Shanks Exactly. And my customer and investors fired me because they said I didn't do the due diligence on who this land low land[sic]. Ed Bilat: Oh no. Jamie Shanks So what I did is I actually googled the investor's name, look them up on Canada 411. I bought the most expensive bottle of Scotch I could afford, drove to this person's house. It's a gated community north of the city and a place called King City. I jumped the fence to their property, ran across the yard, the investor was sitting in his bathrobe smoking a cigar right on his porch and he and I proceeded to have a scotch together talking about rekindling our business partnership. That's when I realized I was willing to do just about anything. Ed Bilat: Unbelievable. Unbelievable. So he was okay to see you show up with a bottle of Scotch? Jamie Shanks: I guess so [laughs] Ed Bilat: Well, that's a very good, interesting story specifically for Storytelling for Sales Podcast. So thank you for sharing this. I know you’re a top expert in social selling and for our listeners, could you describe it? What is social selling? What is everybody talking about? Jamie Shanks: What it really means is whether we as sellers like it or not, our customers are going to learn with or without us. So a customer is going to go on a journey. And when I'd say my customers are primarily business to business companies Ed Bilat:  B to B Jamie Shanks: Yeah. So let's say I'm vice president of information technology or a VP of HR is going to look at an initiative and a portion of their learning is going to happen without the sales professional. That means that they'll do online research. They’ll reach out to their social network and ask some questions. And so what a seller needs to do is to map and meet the customer where they are doing their due diligence, which is online and what they're doing is using four principals. They, reusing triggers, referrals, insights and competitive intelligence that can be found using social platforms or also using digital technology to aid in that buyer's process. So on a tactical level or as a real tactical example, one of the things that I as a seller could be doing to acquire customers is I take every existing customer of ours from our database and I map job changes every time somebody in our customer database from a company that we've worked with leaves that company and moves on to an organization we've never done business with that should, you know, create a trigger for my team to start a compelling sales conversation with them. And that is the purpose of what social selling is. You're just using data and new communication mediums to engage the customer in a bold and different way. Ed Bilat. Mmhmm Okay. So what I hear from now, you say that the sales cycle has already started before they talk to salespeople, right, for modern customers. So it could be 50% in
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