It’s the week of July 4th in Utah. Which, if you don’t already know, means explosions all over the place. Fireworks are a thing here, big time. Our family went to a nearby neighborhood, where folks from one cul-de-sac pooled together what had to be thousands of dollars for a legit 45 minute show. I mean big time aerials. It was spectacular.
I’m talking the opposite of fireworks this week. Fireworks are instantaneous, there’s an immediate cause (fire) and effect (explosion). Rarely does a revenue relationship follow the same trajectory.
Maybe you’re familiar with the phrase “Always Be Closing”?
I don’t know if it originated with 1992 real-estate film “Glengarry Glen Ross”, not that I have even seen it, but it definitely has become popularized in sales cultures since.
It’s catchy, and tempting to think that’s all it takes.
But jump into just about anyone’s salesforce CRM and I guarantee you won’t see just two statuses, “open” and “closed” referring to their sales cycle.
Many, if not all, include “qualified”, and even a few others.
Even that said, maybe someone has the perfect job, where everyone they meet is either absolutely ready to buy, or absolutely not going to buy. Maybe car salespeople? They’re the closest, at least that I have met in real life, to people who prescribe to the ABC mentality.
I think that philosophy is a real lemon of a deal.
Recently, a friend of mine and their spouse made a trip to Puerto Vallarta, Mexico. And what are those resort towns infamous for? Especially with turistas from the North? Timeshare presentations.
Their shuttle driver was ABC, always-be-closing, as they made their way to the resort. Discounted tickets to the best show in town. Next day, there they were, sitting at a breakfast, being shuffled to room after room and person after person whose sole focus was ABC.
Relentlessly, each individual tried to close the deal.
Four hours later, they had their tickets in hand, no deal.
Later, speaking on the beach to another couple from the North, a guy said, “I know it’s terrible, but I am in sales… and I love how good these people are. You can’t find salespeople in the USA that are as amazing at closing like they are here! I wish I could hire every single one of them.”
Ya, no. Not my philosophy.
I don’t hate the people, just the tactic.
Not because it doesn’t work, but because it doesn’t create strong revenue relationships.
One survey says “90% of timeshare owners are happy with their overall ownership experience.” and another says “A whopping 85% of timeshare buyers regret their purchase.”
It can’t be both… right?
Even meeting somewhere in-between doesn’t make for great NPS scores.
A relationship built of guilt, fear, exhaustion isn’t good in any context, especially where revenue is involved.
Sure, you may get some sales, you may get some contracts. But, is the 15% close ratio worth people who regret the decision and never buy again? And who passionately share such with anyone and everyone they know?
I’d love to see a timeshare experience that focuses on understanding people’s needs and wants, delivering value across multiple interactions. Then evaluating the results beyond just the one-appointment-close-ratio but looking at total occupancy rates, referral rates, renewal rates, etc.
Maybe it’s not any better?
But, if you could produce the same revenue, with an elevated customer experience, seems like a win to me?
My daughter and I sometimes distract ourselves during Sunday Church service. I know, not my best practice. But, attending church almost weekly for 30+ years, every once in awhile you’re just not feeling it.
But, beyond that… the game we distract ourselves with is “Dots and Boxes”.
For the uninitiated… it’s simply a grid of dots, where two players take turns drawing a single line between two dots. If you close a square, by completing the fourth line, you earn a point, and you get to place another line. Game continues until all the boxes are completed, points are added, most points wins.
One strategy, is to create a chain of two sided boxes, that when the third side of any one is completed, allows the next player to string together a series of closed boxes.
The theory is, if you can string together enough of these, and get you opponent to bite on closing the third side somewhere, you’ll get a big run of completed squares. Hopefully, adding up to the W (win).
One thing you’ll notice, you can’t ABC your way through this game. Sometimes you’ve got to be the first, second, even third line in a square.
What you can do though, is always be connecting the dots. ABCD.
That’s a philosophy for a meaningful revenue relationship.
An ABC interaction on a LinkedIn a recent connection request looks something like this…
“Hey Mikey, I’m the founder of Partner Philosophy. I help businesses and individuals optimize their revenue through the power of meaningful relationships. Relationships that are built upon interactions at events, virtually, and in any context that is people-to-people and business-to-business. Use my calendly link to schedule 15 minutes to talk about how this can benefit you!”
It’s especially an ABC interaction if it’s sent within 24 hours of connecting with a stranger with zero personalization, zero authenticity, zero relevance.
We all lament these types of interactions, but many ABC salespeople don’t know how to level up.
You’ve just got to go one letter further —ABCD.
Always Be Connecting (the) Dots.
That same interaction, ABCD style would look something like this.
Hey Alex, If it weren’t for Levi Lindsay I would have left you alone, but he commented on post that you say something like “Success is the sum of relationships and outcomes…”That’s my kind of jam, so couldn’t skip over making the connection. Happy to be new friend and contributor in your success however I can.
That message got a reply, lunch (3 months later), and a great new relationship with Alex Burdge. https://www.linkedin.com/in/alex-burdge-30940855
You can create a meaningful relationship in one interaction. Maybe not a million dollar one, but a relationship of value no doubt.
The ABCD here is connecting the dots of: a mutual connection, a shared philosophy, and willingness to make the interaction personalized, authentic, relevant.
Even if I did want to sell Alex something, that’s a way better place to start that deep diving into the shallow end of a full on sales pitch.
Especially because the ABCD way led to lunch, where you learn WAY more about where you could or couldn’t help solve a real problem (and make revenue from the relationship).
ABCD is about the multiplying power of a series of meaningful (however small) interactions from a LinkedIn connection request, to an email, to a lunch, to a demo, to a revenue relationship.
Go for personalization, authenticity, relevance and you’ll find more meaning in what you do and the outcomes.
Some doubt the ABCD approach because of the urgency of quotas. If you’re ABCD style, may not close right away, but if executed consistently and for the long run, you’ll always have pipeline that could be closed. As opposed to chasing away your entire pipeline each month-, quarter-, year-end. That ends potential revenue relationships faster than anything else.
Take your sales strategy a step further, with ABCD, and see just how quickly and lucratively it gets you to the RR crossing of Revenue Relationships.
Brian, thanks for another insightful post. I heard another definition for "ABC" that sticks with me "Always Be Charging", referring to making sure we're refilling our devices with electricity. I think that applies to relationships too--a focus on receiving energy from above and sharing it with our networks of trusted relationships. Keep up the great work!