|
Article 1
 |
Pugliano: Sending letters is the first step his step his credit-reporting agency takes among bankers and brokers.
Opening the door with the 'circle of leverage' |
By BERNADETTE STARZEE
ou get a letter from a vendor who says he can save your company money.
You're told your boss got the same letter (and she knows you got one).
So what do you do when the vendor calls asking for a meeting? What do you do?
"If a lower-level manager
hears that the letter was also sent to his boss, he might think, 'I have
to jump on this.' It creates a little panic," said Lorenzo Pugliano, president
|
and chief operating officer of
Platinum Credit Services Inc. in Wantagh. "Another possible scenario,"
he says, "is that a company head may say to an underling, 'Hey, this person says
he can save us money. Have you contacted him to
find out about it?' "
What you should realize is that such
letters often are part of the kind of "circle of leverage" system, says Michael Boylan,
the Minn eapolis motivational consultant and author. It works for Long Island's Pulgiano.
Sending COL letters is the first step his credit-reporting
|
agency takes when it's looking to
land new accounts among mortgage
bankers and brokers.
Pugliano's secrets:
CONTACTS. "For a large organization
with multiple levels, we send letters to five people," he says.
(Maybe less for smaller companies).
"The letter accomplishes a few
things. One is name-dropping; we
mention some big customers in the
area and how we have helped them.
Second, we tell the recipient what
we can do for his company."
|
|
Leverage:
Mailing letters that pay off
|
The letter
mentions that other key mem-
bers of the organization are being
contacted, as well.
FOLLOW-UP. About three days
later, a PCS salesperson follows up
with a phone call to one contact,
reiterating what was in the letter
and mentioning who else in the
organization was contacted. A meet
ing would explain how PCS can help
the company lower costs or speed up
tech processes.
MEETINGS. If you're good with
follow-up you should get three
meetings from 20 companies.
(Warning: "Don't assign more than
two or three companies a week per
salesperson, or they won't be able
to do the follow-up work that is
needed.")
Next step: A meeting to demon
strate your service for people who
actually will be working with it.
Finally, a meeting with the deci
sions-makers to talk bottom-line
about how you'll save them money,
etc. "If a company allows you to do
all that, they're somewhat inter
ested, and I would say the deal
closes about 90 percent of the
have shown a company how your
product can help them, it's easier
to close a deal."
SEEDING. The process can be
|
quick, or it can take a year or more.
PCS sales reps stay in touch with
potential customers, often sending
them informative e-mails about the
industry. "We become a resource for
information," Pugliano says.
"Maybe a year after the initial con
tact, the company they're working
with will mess up, and they'll think
of the one person who has been in
their face the whole year."
James Tinnelly, president of JT
Financial Services of Syosset and
Southold, takes a similar
approach, minus the phone calls.
Tinnelly sends out what he calls
"TinnBits," short, easily digestible
articles on topics such as why
women need a retirement plan.
Sometimes, the company invites
targeted recipients to an informa
tive seminar, perhaps at their
employer 's site. "I 'drip' on people,
sending them informational pieces
over time. People are wary of
investing. They need to be familiar
and comfortable with the person
long before they do business with
him or her."
It's been reported that it takes
most people as much as a year
after they've discussed it with a
professional to make an invest
ment. "So, the professional has to
build the trust and add value while
|
that gestation period is under
way," Tinnelly feels.
So-called "drip marketing"
numerous letters to the same
folks, often followed by phone calls
- can be "a double-edged sword,"
warns Rich Isaac, president of
Sandler Sales Institute, a
Hauppauge management training
and sales consulting firm. "The
good news is, if they're more famil
iar with you and they have some
level of interest, they may be
receptive to your call, or they may
call you," he said. "The downside
is, when you do call, it's as if you
have prepared them to object to
your call. I had one client who was
told, 'How many letters are you
going to send? You sent me six. I
would have called you if I were
interested.'"
If you do send letters, Isaac
urges, focus on the recipient:
"Instead of telling someone that
your seminar is great, say, 'We can
help companies who are struggling
to get their people in front of
enough clients or to maintain an
effective sales force.'"
"It's more effective to focus on
their key issues." Otherwise it's
like sending someone a birthday
card and just talking about how old
you are.
|
©2005, All rights reserved
Lorenzo Pugliano
2175 Wantagh Ave. Suite 106
Wantagh, NY 11793
(516) 783-9000
www.platinumcreditservices.com
|
|
|
|