Tech sales closing for Manufacturing

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if you're in industrial sales in this video I'm gonna show you how to make some real money I'm turning dreams into reality [Music] the drummer passion never rests freedom is our teaching the person [Music] yeah it's one what's up guys is Kyle Milan today is fearless Friday if you get value out of this content I want you to share this with one person and hit that subscribe button to stay tuned to everything else that we got going on what better setting right now then we're on site about to shoot another episode of MFG tribe TV we're at industrial automation company I want to talk to you today about making money in industrial sales so if you're in industrial sales this is gonna be specific to you guys manufacturing sales whether you're doing services regardless of what industry specific vertical you're in we're talking about industrial sales so from the first standpoint you have to understand something especially for you younger guys out there the industry is relatively the industry is relatively exhausted when it comes from a sales standpoint nothing against the veterans out there but these you've got it you're coming into an industry where there's a big large percentage of the group that is in that 40 and above 40 and above demographic and a lot of these guys I hate to say it's you guys but you become complacent you've you've done a good job for the first 10 years 15 years you've worked at a company you've got your book of business you're happy with making what you're making and then you're not as aggressive out there for you younger bucks out there this leaves the the opportunity open for you to come in and really kick some butt and come in with a lot of high energy and be aggressive and just start taking business away from competition so let's look at the landscape you've got an older generation of salespeople out there they're they're nearing retirement age or even if they're not they're typically more complacent they're a little bit less aggressive and then you've got a smaller percentage of that group that is still pounding regardless of their age and they're still going after it so it's for the taking and what you have to do is look at it from this standpoint there's there's newer ways of selling and marketing out there now with technology with social media that if you've got the energy and the drive you can come in and just go really hard after these core strategic areas to where the the rest of the competition they're still doing that quote-unquote the old way okay there's they're focusing on cold calls which is fine doing some cold calls they're doing cold visits which is fine doing some but they're not gonna be utilized at things like LinkedIn if they are maybe they're not gonna be doing it as much maybe they've got more responsibilities they've got kids that are older they've got you know family they've got vacation all these things going on so if you're coming into this industry you can be like look I'm gonna put my head down and bust my butt doing this and really make some money so that's kind of the landscape what you have to do is also look at the position that you're in if you're not in you know if you've got let's say a couple years experience or or three to four years experience you should be from a salary standpoint you should be in the standpoint of making a round like seventy five eighty thousand per year to maybe like one hundred and ten thousand per year that should roughly be your buffer if you're not in that range and you're only making like sixty thousand dollars a year or below then you need to either one step up your skills and get a little bit of time and then leave or you need to go back and negotiate things with your employer or just find a different place I've talked to so many younger guys in the in the 35 and under like 25 to 35 range and they're not making what they should be because they're working for a company that's either really small or they don't know that they should be making more so looking at a standpoint from 70 to 110 that's your base they're paying you basically to do your day-to-day you have to have some sort of commission plan you have to if you are not at a company that offers some sort of Commission plan what is the motivation besides your base salary to really push harder and really drive out there so look at it from the standpoint that from a commission sample you should be in the 1 to 3% if we're in talking services you should be in 1 to 3 percent commission on sales I've talked to tons of people that are like oh it's commission on profit it's commission on you know P&L and all these things that's not ideal if you're in that situation it's better than not having any commission but ideal you want to be let's say 2% for a couple years or 3% for a couple years on total revenue that's all you have control over companies that say we're gonna do it based on profit is ridiculous if you work for companies you need to talk to your boss about it or just leave and find something better because you have no control over the profit you have to focus on percentage of commission on sales to you business owners out there that are watching this for sales managers change your policy salespeople have no control over profit that's operations which they have no control over or responsibility so you can't hold them accountable for that from the compensation standpoint so step one look at where you're working seventy two one time commission one two three percent now what you have to do is is there's a longer sales cycle and a process when it comes to closing business in these industries it could be anywhere from three months to three years when you have to hit it as hard as possible and go super aggressive out there because otherwise you're gonna be just delaying the inevitable time that you close a deal so utilizing social media you need to connect with as many people as possible that are relevant and strategic go out there make your profile great we'll link to some videos up above about that and then you want to go out and connect with as many people in your target demographic that you're trying to sell to to then get them into your feed and push out your brand awareness from there to where they start coming to you and there it's less of a cold call or cold visit so utilizing social media number one you still have to do cold calls and cold visits when you're doing cold calls try and focus on finding somebody that at least you're connected with on LinkedIn so you can you know jump into and say hey have you seen my stuff maybe they say yes or if not find the companies and just do a cold call pick up the phone it sucks cold calling sucks it's one of the worst parts of sales but about twenty or thirty percent of time they will answer the phone and from that time even if they don't as a phone you leave message just keep on pounding them eventually they will pick it up just from a guilt standpoint the other thing with cold visit says nobody's doing cold visits as much anymore from when I used to do it and from people that I still talk to you're gonna get about ten percent success rate if you go and visit ten companies in one day you're gonna get about one of those ten companies it's like hey yeah I'll talk to you right now which is great all you got to do is work the numbers game drive into an area industrial park drive into some you know town and map out using Google my maps which is not Google Maps it's you need a Google search Google my maps and you can create your own map and you can upload a list to it and plot out where people are on that map you want to go into that section and just hit one after the other you want to go to 1015 places and expect only one or two people are actually going to answer once you go there to have a meeting with you you have to do that keep in mind that the older generation and the guys that are veterans aren't necessarily doing next is like I don't have to do that which is ridiculous but that's just the way that it is so doing using social media going after cult going after cold visits and doing that is gonna be the first three things that you need to do now once you get the opportunity to talk to somebody do not do not and we're gonna put a big letters on the top of the screen do not show up and throw up show up and throw up is when you walk into a meeting you walk into a place and like yeah I want to meet with you show me what you got and you pull up your presentation and you just throw up information on you don't give him a chance to talk just like this is why we're great we're doing this we got these capabilities this technology blah blah blah blah and you're just throwing up information and they're just gonna sit there like Jesus this is ridiculous do not go in and show up and throw up if you're a sales engineer and you've got a lot of technical background you need to tone that down a little bit nobody wants you to come in and just hit them with all this tech stuff wait for the moments to come you need to be high level talking to people about your general capabilities and then asking them questions to get their engagement because people are not gonna want to just sit there and listen to you they want to have their opportunity to talk because everybody loves talking about themselves and their job so asking them questions getting them to engage back instead of just showing them everything that you have being like what's up like I just showed you everything now we're gonna do business don't go in and do that you have to play both sides of it so once you get to that point and they're gonna say hey you know what there's an opportunity you need to jump on this do not allow three weeks two weeks five days or whatever to do an RFQ if somebody gives you a chance to quote something turn that around as fast as possible I don't care if your company has policies and procedures and they you've got a way to do it with the workflow and going through engineering and operations and they've all got to sign off on it go in there and push it hard it needs to be like two days to turn that quote around unless you're waiting on something specific from another supplier where they're like I need to give me three days to do this you need to beat them up too and say you got one day to turn around this pricing on me but you can allow them you know push them hard to get that information back so that way you can get the quote back to your potential customer just because you're first doesn't mean that you're going to get it and it doesn't put you in a downside if the other people are taking longer that gets the conversation started quicker if you have other people that are quoting on this so you need to go hard into it get it back to them right away as fast as possible and then start the conversation be like hey when can I come in and talk to you about this just show up and talk to him about if they're not responding to you but you have to get it back to him as fast as possible so once you've got that quote into their hands the next step to really drive this in and make some money is going to be follow-up follow-up through email phone call cold visit LinkedIn hit him as much as possible to get a response send them something in the mail if you have to continue to follow up to work that deal now where you're gonna really make some money is don't just focus on that one deal this is what a lot of the markets do in the industry guys are doing is it like I got this one thing and I'm really gonna make a lot of money in this so I'm gonna put all my eggs in one basket and guess what that falls through and they don't get it and they're back to square one it's like spinning plates at the same time you want to keep all these opportunities going touching them following up setting up automation and going hard into it - just touch everything and keep that snowball in that pipeline full that's what's gonna be the difference between making 70 to 110 and maybe 120 or 125 with a little bit of commission and making like 200 250 300 if you don't think that that's possible to make three to four hundred thousand dollars in manufacturing industrial sales I'm here to tell you that that is completely wrong I can name five people right now that are friends of mine in the industry that are making over 300 grand when I was in the industry the numbers were even higher than that the money is there to make it it's up to you to decide do you want to take it because the rest of the market is sleeping if you like this content show this is one person you know in industrial sales and send us to your boss we'll see you on the next one [Music] [Laughter] [Music]