Kevin Price, Host of the Price of Business on Business Talk 1110 AM KTEK (on Bloomberg’s home in Houston) recently interviewed Richard Dym.
About the interviewee
Richard Dym, Chief Marketing Officer. Richard is an entrepreneurial CMO with 25 years of private and public company experience marketing SaaS and cloud products and services to SMBs and enterprises worldwide. Previously he was principal of the BondiGroup, a SaaS/Cloud marketing consultancy, CMO/SVP at OpSource, CMO/EVP at AXS-One Inc., SVP of Marketing SiteSmith/Abovenet, VP of Marketing at Tribal Voice, and SVP of Marketing and GM International Operations at ParcPlace. Richard holds a bachelor’s degree in economics from Franklin & Marshal College, a master’s degree in economics from American University and serves as board co-chairman of the software division of the Software Information Industry Association. Richard enjoys making seemingly complex software solutions easily understood.
Tell me about your firm (number of employees, location, type of companies you work with, etc.).
Gagein is Google Alerts on Steroids. A new way to proactively sell, Gagein enables salespeople to sell five times more by pinpointing when and why to call on their prospects to achieve the highest probability of closing deals. Using artificial intelligence, Gagein searches for personalized sales trigger events from millions of sources, including media, social and company websites, and delivers the resulting high-value prospects free via the web and mobile devices and by subscription on Salesforce.com. Salespeople are always looking for the perfect time and a relevant reason to engage or reengage with a prospect and Gagein’s real-time news provides the timing and the reason. Gagein has 70 employees worldwide and is headquartered in Campbell, Calif.
What type and size of companies do you have as clients?
Staying relevant in today’s sales environment is acknowledged as the “make it or break it” factor for sales success. Gagein’s real-time actionable news delivers relevance (why) and the timing (when) to connect with prospects at the perfect time. As a result, customer-facing professionals from among virtually every industry in the U.S., Canada and other English-speaking countries use Gagein’s trigger-based news to follow their existing prospects as well as discover new ones. Gagein clients run the gamut from small and medium size businesses in the technology, finance, retail, hospitality, education sectors, etc. to sales organizations at Fortune 500 companies like ADP, Merrill Lynch, Verizon, HP, Marriott and Target.
What comes to mind when you see this topic?
When I think of cold calling, I think of low-probability selling. It’s little more than a shot in the dark—a numbers game—and it has the lowest probability of success. When you’re cold calling, you generally have a company and perhaps a contact name but no idea of why it’s even the right time to be reaching out to them, let alone what their needs may be. On the other hand, while cold calling is so yesterday, relationship selling is totally today. We live in a connected world and relationships deliver the highest probability sale. We all know that friends buy from friends. There is a reason that Facebook has more than a billion users and LinkedIn has become the standard research tool for salespeople. However, even with relationship selling, timing matters. Bottom line: with cold calling or relationship selling it’s all about timing.
What are the best practices when it comes to this issue?
If you’re the first salesperson to engage with a prospect to help them define the solution they need, you have a 74 percent chance of closing the deal. Best practices to follow to achieve this objective include:
(1) Know the sales “triggers” that move your business. For example, if a prospect is hiring, does that mean they will need your solution? If a business is expanding, does that create an opportunity for you?
(2) Follow the news for companies you are interested in. Look for trigger events that will tell you when and why to call.
(3) Know your prospect and their business before you call. The quickest way to hear a phone slam down is to start a conversation by asking a prospect to tell you what his/her company does. Use LinkedIn to uncover relationships that can turn a warm call into a hot call. And start a virtual conversation via LinkedIn, Twitter or Facebook to engage with prospects