Please order a copy/read:
"New Sales. Simplified." by Mike Weinberg
"Fanatical Prospecting" by Jeb Blount
"High Performance Habits" by Brendan Burchard
"The Energy Bus" by Jon Gordon
"Fanatical Prospecting" by Jeb Blount
"High Performance Habits" by Brendan Burchard
"The Energy Bus" by Jon Gordon
Business Development vs. Account Managers
TIME MANAGEMENT = BUSINESS DEVELOPMENT SUCCESS!
Until your book is fully developed, please use this formula for managing your time:
1/3 - ACTIVE ACCOUNTS
1/3 - DEVELOPING ACCOUNTS
1/3 - PROSPECTING ACCOUNTS
Until your book is fully developed, please use this formula for managing your time:
1/3 - ACTIVE ACCOUNTS
1/3 - DEVELOPING ACCOUNTS
1/3 - PROSPECTING ACCOUNTS
Simply stated -- those who have the most active accounts will produce the most business.
Historically on this team, our strongest members have had an active account base of approximately ~40 accounts. In addition to the 40 "active" producing accounts, there are 50-80 accounts in development.
About 30% of active accounts produce referrals in a given month. You must have a large enough account base to generate the amount of referrals you need to be able to convert at and above your targeted admissions goals.
We've found great success with persistence. When onboarding a new account, we encourage a focused effort in order to activate the account (meaning getting them to send referrals). Over the course of 8-12 weeks we encourage weekly contact utilizing all methods of communication, with the highest frequency and most consistency within the first month.
Not all accounts will become active which means you must have a well developed, and constantly evolving, list of prospects.
You must always prioritize prospecting and identifying new opportunities for business development regardless of your tenure on this team. There is a big difference between business development and account management. As your time on this team progresses, the amount of accounts you manage will increase. It is critical, however, to always continue to look for new opportunities to engage with new accounts and continue to grow your book of business.
You must know your numbers:
Example: If you have a list of 50 targeted prospects and you reach out to them to set up meetings & inservices, chances are you will see about 50-60% of those efforts pay off over the course of your onboarding cadence. Of the 25-30 accounts that you meet with, 1/3 will likely make it to the referral phase. Using our conversion average of 35%, of the 10 that do send a referral, 3-4 will become admits allowing those accounts to now be considered active accounts. It is absolutely CRITICAL to make sure that you have a strong enough pipeline of prospects and a dedicated, focused effort in order to create new business and increase your amount of active accounts.
If your prospecting stats differ, you need to plug in your historical numbers to be able to forecast your production.
Just like a world-class athlete knows their stats, you need to know yours.
On average, how many...
- calls/emails to an account does it take to secure a face-to-face meeting?
- meetings/calls/emails does it take for you to get a referral?
-referrals from that type of an account do you need to be able to convert one into an admission?
Our current activation stats are: 4 Calls + 4 Emails + 2 Meetings + 2 Visits = Referral
You must keep filling your pipeline and understand that the work you do today will impact your performance over the next 90 days.
Just because you have a good month does not mean that you don't have to prospect. The lack of account activation will end up impacting your performance throughout the quarter.
At any given time, an account could change, be acquired by a competitor or have a new point person that could impact your referrals. Unless there is a pipeline of developing accounts to replace the referrals from a once producing account, your performance could be drastically impacted.
You must dedicate the time, energy and effort to keep your prospect list fresh and relevant (see Prospecting Action Plan). Please utilize this form to keep yourself and your prospects organized on a monthly basis.
Historically on this team, our strongest members have had an active account base of approximately ~40 accounts. In addition to the 40 "active" producing accounts, there are 50-80 accounts in development.
About 30% of active accounts produce referrals in a given month. You must have a large enough account base to generate the amount of referrals you need to be able to convert at and above your targeted admissions goals.
We've found great success with persistence. When onboarding a new account, we encourage a focused effort in order to activate the account (meaning getting them to send referrals). Over the course of 8-12 weeks we encourage weekly contact utilizing all methods of communication, with the highest frequency and most consistency within the first month.
Not all accounts will become active which means you must have a well developed, and constantly evolving, list of prospects.
You must always prioritize prospecting and identifying new opportunities for business development regardless of your tenure on this team. There is a big difference between business development and account management. As your time on this team progresses, the amount of accounts you manage will increase. It is critical, however, to always continue to look for new opportunities to engage with new accounts and continue to grow your book of business.
You must know your numbers:
Example: If you have a list of 50 targeted prospects and you reach out to them to set up meetings & inservices, chances are you will see about 50-60% of those efforts pay off over the course of your onboarding cadence. Of the 25-30 accounts that you meet with, 1/3 will likely make it to the referral phase. Using our conversion average of 35%, of the 10 that do send a referral, 3-4 will become admits allowing those accounts to now be considered active accounts. It is absolutely CRITICAL to make sure that you have a strong enough pipeline of prospects and a dedicated, focused effort in order to create new business and increase your amount of active accounts.
If your prospecting stats differ, you need to plug in your historical numbers to be able to forecast your production.
Just like a world-class athlete knows their stats, you need to know yours.
On average, how many...
- calls/emails to an account does it take to secure a face-to-face meeting?
- meetings/calls/emails does it take for you to get a referral?
-referrals from that type of an account do you need to be able to convert one into an admission?
Our current activation stats are: 4 Calls + 4 Emails + 2 Meetings + 2 Visits = Referral
You must keep filling your pipeline and understand that the work you do today will impact your performance over the next 90 days.
Just because you have a good month does not mean that you don't have to prospect. The lack of account activation will end up impacting your performance throughout the quarter.
At any given time, an account could change, be acquired by a competitor or have a new point person that could impact your referrals. Unless there is a pipeline of developing accounts to replace the referrals from a once producing account, your performance could be drastically impacted.
You must dedicate the time, energy and effort to keep your prospect list fresh and relevant (see Prospecting Action Plan). Please utilize this form to keep yourself and your prospects organized on a monthly basis.
Messaging Matters.
You must master your messaging and make sure that you are engaging your prospects with the proper value propositions. Nothing frustrates an already busy contact at an account than a sales call that isn't relevant to them or doesn't address any of their pain points.
Prior to any call, email, meeting or inservice, you need to be focused and think about "what matters to them." Don't waste their time with things that don't matter to that type of account.
The best way to nail your messaging is to begin with a list of "types," what matters to each, and what their common objections are.
The types of accounts we target are:
Hospitals
Treatment Programs
Sober Livings
Counseling Groups & Private Practices
Interventionists
Employers, EAPs, Unions
Attorneys, Judges, Legal Support
Schools & Collegiate Recovery
IAFF
Community Organizations & Agencies
Monitoring Programs
Having this information top of mind will help tremendously as you work through the exercise below.
PLEASE DON'T HESITATE TO REACH OUT WITH QUESTIONS. THIS IS A TOOL FOR SUCCESS AND IT NEEDS TO BE A PRIORITY.
Prior to any call, email, meeting or inservice, you need to be focused and think about "what matters to them." Don't waste their time with things that don't matter to that type of account.
The best way to nail your messaging is to begin with a list of "types," what matters to each, and what their common objections are.
The types of accounts we target are:
Hospitals
Treatment Programs
Sober Livings
Counseling Groups & Private Practices
Interventionists
Employers, EAPs, Unions
Attorneys, Judges, Legal Support
Schools & Collegiate Recovery
IAFF
Community Organizations & Agencies
Monitoring Programs
Having this information top of mind will help tremendously as you work through the exercise below.
PLEASE DON'T HESITATE TO REACH OUT WITH QUESTIONS. THIS IS A TOOL FOR SUCCESS AND IT NEEDS TO BE A PRIORITY.
New Sales. Simplified: Chapters 7 & 8
In order to have the essential information that you need for effective prospecting and selling, you must have a solid Power Statement. This statement is an internal document that you will use and re-purpose time and time again. It will allow you to connect and engage with intention and purpose through every phase and stage of the sales cycle. Please listen to the audio so that you understand the elements that are critical to your statement.
The audio chapters below will take approximately an hour to listen to.
Please dedicate an additional hour to work on your Power Statement with your team members. Once complete, please review with Allison and Greg.
The audio chapters below will take approximately an hour to listen to.
Please dedicate an additional hour to work on your Power Statement with your team members. Once complete, please review with Allison and Greg.
If you have trouble listening above, please click here to download from the GDrive.
Please purchase a copy of "New Sales. Simplified." by Mike Weinberg
Please purchase a copy of "New Sales. Simplified." by Mike Weinberg
Use this outline as you draft your power statement:
Headline:
Transitional Phrase:
Client Issues/Pains Removed/Problems Solved/Results Achieved:
Offerings:
Differentiation:
Headline:
Transitional Phrase:
Client Issues/Pains Removed/Problems Solved/Results Achieved:
Offerings:
Differentiation:
KEY POINTS TO INCLUDE WITH POWER STATEMENTS
Our promise: Convenient | Personalized | Premier
Differentiators:
Full time Medical Directors
Master’s Level Therapists
Full continuum of care
Any level of care admission
Point person dedicated to their needs
Non-narcotic facility
Real-time VOB
24/7 admissions
Our promise: Convenient | Personalized | Premier
Differentiators:
Full time Medical Directors
Master’s Level Therapists
Full continuum of care
Any level of care admission
Point person dedicated to their needs
Non-narcotic facility
Real-time VOB
24/7 admissions
WHAT THEY CARE ABOUT
Understanding what accounts care about is critical. Speaking their language and solving their problems will allow you to win the account.
Hospitals
Treatment Programs
IOPs
Sober Livings
Therapists
Interventionists
Understanding what accounts care about is critical. Speaking their language and solving their problems will allow you to win the account.
Hospitals
- Quick 24/7
- LOS reduced
- Recidivism reduced
- Direct, consistent point person to connect with
Treatment Programs
- Referrals
- Differentiating services and insurance contracts
IOPs
- Preserving their benefits
- Getting their clients back for IOP
Sober Livings
- Referrals
- Getting their clients back for sober living
Therapists
- Getting referrals
- Good treatment for their client (reflection of them)
- Clients returning to them after
- Regular updates while in treatment
- Billing/insurance issues for clients
- Losing revenue while client is inpatient
Interventionists
- Quick turnaround
- Regular updates while in treatment
- Involvement in aftercare planning
- Strong admissions department that can work in tandem with them
- Referrals
- Solid case management at the centers
- Ethical treatment centers