The Grow Show: Business Growth Stories from the Frontlines
The Grow Show: Business Growth Stories from the Frontlines
Slow Business? You’re Doing It to Yourself – How to Stay on Track
In this episode of The Grow Show, the hosts dive into the evolving world of sales prospecting. They discuss the death of open rate tracking in cold email, share tips for softening your tone in outreach, and emphasize the importance of maintaining a consistent weekly meeting cadence to drive business momentum. The show also features an expert on leveraging LinkedIn for prospecting, and strategies for selling to competitive, commodity-driven markets. This episode is packed with actionable insights to help businesses adapt their sales and operational practices for success.
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Nothing could stop me.
Eric Watkins:Welcome back to the Grow show. I'm here with my partner in growth, Jeff winners. Jeff, how we doing today? Feeling
Jeff Winters:good. Eric, we are. I know this will not come out when, when this comes out, Labor Day will have passed. But as you well know, my favorite summer holiday is Labor Day, is it? Yeah. So I'm feeling great, and
Eric Watkins:we have talked about this on the show before. We have little it's basically because your kids go back to school.
Jeff Winters:The end of summer is the beginning of life. The beginning
Eric Watkins:of life. Well, I'm glad, and I'm glad you're fired up for today's episode. Let's start with what's going on in the LinkedIn space right now,
Jeff Winters:we're back. Every single week, we are patrolling the pastors of LinkedIn, making sure that we can separate fact from fiction, truth from lie, two truths and a lie from LinkedIn, and our first truth comes from a former guest. And this is a tactical truth. It comes from our good and close friend, huge I don't want to say best friend, close friend of the show, close friend Jesse will add, who says, By the way, always posting killer content. Many are asking me, should I continue to track open rates on cold emails. This is in light of the fact, by the way, that Gmail is about to start, if you put a link in your Gmail, in your email, Gmail is about to start flagging it basically, which is all open tracking,
Eric Watkins:where they can easily hit unsubscribe. Right?
Jeff Winters:Exactly, right. He says it's still a no, my answer hasn't changed. I had predicted this about nine months ago. If you want to look back, why analyze the image in the post? Does the position of the report as spam increase the amount of people who click it by three on 1000 recipients? If you said yes, you agree with me, it's a subtle way, Google is asking you for more feedback on the quality of your outbound campaigns. Here's why you should not use open tracking for cold email. Number one, I'm gonna read to number one, it limits your use of plain text emails, which gets you more delivery, better delivery. And second is inconsistent tracking. Inconsistent tracking is, I mean, is the reason not to do it, and it's about to get less consistent, and
Eric Watkins:it's gonna hurt you, and it's gonna hurt you, yeah. So the whole reason to track it, the whole reason to do it, is to track it. And with all the spam blockers and everything going on, they'll mark it as opened as they're filtering it out of their system so it it really doesn't give you anything. And at the end of the day, what really matters is, are they replying to your emails like that's the only metric you need to look at, because if they're not replying, it's not working. And you can look at the health of your domains, but agree, 100% Jesse always, always ahead of the curve in this space,
Jeff Winters:always it's over. It's over. Open Rate tracking is over. Oh, the end of an era. So if
Eric Watkins:you're looking at a provider and they're talking about open rates, that's a red flag
Jeff Winters:or Yes. And if you're in a exec meeting and someone is reporting to you and you're going, how's the email campaign going? Oh, it's great. We got a 28% open rate. Stop, stop, end of an era. Good run for
Eric Watkins:open, good run. This was, this was gone a long time ago, though, yeah, but
Jeff Winters:it's officially ending. It's official this weekend, yeah? Like, if you're listening to this, it ended, yeah, Labor Day of 2024, yeah. And when they bury this in the time capsule. And people come back from, you know, hundreds of years from now, and they go, Wow, that's the date that open rate tracking died, the
Eric Watkins:day the open rate died. We were all right,
Jeff Winters:moving on, but staying on the topic of cold email Yeah, yeah. Will Allred says cold emailers, stop, soften your tone. I could be totally wrong. I'm not. The data supports this. I'm not the data supports this. I assume he's not. I'm not the data supports this kind of person. But here's a simple rule, confident equals what you know about your stuff. Unsure equals what you know about their stuff. Sales gurus will tell you, confidence sells, it does, but cold email, it doesn't. Here are some suggestions. And basically what he's saying is, like, it's sometimes in cold emails, people are very commanding on, like, what's going on in your world? I bet you don't have visibility into your data. I bet you don't have this. I bet your sales pipeline's empty. It's like, Whoa, easy. You don't know that. So here's what he's suggesting. I like it. Am I off in thinking that from the outside, looking in blank? Not sure if this is your focus, but and on and on. On and on. And I think that's a really good truth and tip, because when people say that to me, I bristle if they're wrong about my business,
Eric Watkins:right? Yeah, I agree with that 100% and I think also keep your opinion like people can argue with opinions they can't argue with your experience. So if you're talking about, you know, sharing, we worked with a customer that experienced this. Is that something that you guys experience as well, like just leaving the door to be open? Yes, I agree with that, right?
Jeff Winters:It's you don't need all that.
Eric Watkins:Yeah, the lie,
Jeff Winters:this is juicy.
Eric Watkins:I think let's hear it. I think it's controversial. I've been waiting all week for the lie. You're
Jeff Winters:lying, see, that's funny. Michael, who is the CEO of a company, says, I love hiring AES salespeople that got fired from their previous sales position. They have something to prove. They have such a chip on their shoulder they didn't quit and find a new profession. They have seen the bottom and want to figure and want to fight out of it. They are crazy enough to fail and want to do it again. I think this is wrong. Yeah,
Eric Watkins:i Ooh. That sound got a little bit more crisp.
Jeff Winters:You think that? I think this. I could see how people might think this is right. And that's why I think it's so important that I say how wrong it is. What do you think? I
Eric Watkins:think it's wrong. I think, again, I might be wrong by a few, right? There might be some really good people that got fired. There's absolutely however, as a business, the last person I'm ever moving on from is somebody who is good at sales. Ever, ever so good salespeople typically don't get fired. I'm not again, I'm wrong by a decent portion. No, you're not. But that, yeah, I would not, that would not be my first pick of the litter, I would say it
Jeff Winters:takes an act of God to fire your best salesperson. Yeah, it just doesn't happen. I mean, I Yes, could it happen, sure. But if it does, it's usually for some sort of like, values violation. Yeah, right. I don't love hiring people that were fired as sales. I don't love I think that is, yeah, all those things could be true. But here's the other thing, nobody's better at telling you a great story about why they got fired and how one their fault, like a sales didn't
Eric Watkins:this person? Oh, and he's saying, He's saying fired, he's not saying laid off. It's fired. Yeah, fired. Those are very different, in my opinion, as well. Again, you can get fired and you can bounce back, sure, you can be great, like, Sure, but don't start there. That's not
Jeff Winters:what I love. Yeah, that's how much you love. That's not the top of my resume pile. I was like, oh, put all the salespeople that were fired in the good pile, and everybody who was just a super, top performer at a company currently, who has a job still. Let's leave them in the maybe pile,
Eric Watkins:yep, woof, yep. Good stuff. That's a good, that's a that's a good lie, where people would read that and be like, Oh, that's a great idea. I
Jeff Winters:should go do that. Yeah, yeah, that's just a LinkedIn clickbait bullshit. We
Eric Watkins:don't want that all right, for the 50 for 50 for for today, oh yeah, the gong. So you guys have probably noticed this business has been a little different since covid, right? It just changed things. And you know, some would some would say some things have changed for the better, and some would say things have changed for the worse. One thing I have noticed is that the pace of business has changed dramatically. We were talking to a guy the other day, in fact, completely non related industry, and he's like, the pace, the pace of the business, is just slow. And Jeff assumed, like, oh, yeah, you know, people taking a while to get back you on deals or whatever. And he's like, no, like, everybody's slow. Lawyers are slow. Accountants are slow. The insurance is slow. And I think people just, you know, I don't know what the root of the problem is, but it potentially is just maybe not taking their business as serious as they did previously. And a I think I'm not saying everybody can you can work hard and have a fast pace and also have a wonderful work life balance and do all that. That's not what this message is about. But this is a this is a disease that will impact your organization and impact it significantly. Because if you're a business that has been running at a good pace and you just see it starting to slow down, you need to look at how you have your system set up. So specifically, I think the easiest way to look at that is the rhythm of your meetings. I've been talking to people and they're saying, like, how and I'll I just always curious. I'll just ask, like, how often do you meet with your manager? And they'll be like, Oh, I talked to him once a quarter. Or even, what? Once a year or once a month, and I think we've talked about our maps here internally, where we meet on a weekly basis and go over the scope of their business and what are the most important things to focus on. And that's something that we take for granted, that just naturally keeps the pace of our business up. My executive team, I know you do this with your executive team, every week we meet, every week we have a meeting, and we're touching base. And you could argue like, Oh, that's too short of a time frame. But like, you can zoom out if you need to, or you can zoom in in those meetings. But I like the 50 for 50 is, I know some of you are out there feeling this of like, man, it just seems like somebody's on vacation, or this person is that, or they're taking a little bit longer to get back to them. Look at how your system is set up. How do you set up a system that can that keeps a pace within your business? And to me, anything longer than weekly is too long, and that's just what I know. So maybe I'm a little biased. I'm sure there's successful companies doing it otherwise, but a week is enough time to make some movement. And I think you really need to be looking at things, at least on a weekly basis. I do too,
Jeff Winters:and I know that there will be people out there who are gonna say the following, if I get my shit done, why do I need to talk to you? Yeah, there's probably plenty of people who will move at a quick pace on their own with no intervention or talking to their manager or their peers. But I think that that more and more is the exception and not the rule, and why not have a forcing function that moves the pace of play as a leader at the pace you want, right? And you can design it that way, because, if you don't, probably more today because of what Eric said, and covid, you know, gave, probably gave rise to this slower pace of play in business. That's the norm. And so you have to it's not a micro and this isn't a micromanagement idea. No, this is purely a, let's move the ball forward as a group every single week. Idea.
Eric Watkins:Yeah, this, this makes me think of the analogy, right? If a ship starts one degree off by the time it, you know, and multiplied out by 1000 miles, they're way off where they were trying to get to. It's just more, that's more of how I look at this. We know where we're trying to go. Are we? Are we tracking like are we on the right route, and if not, readjusting now instead of at the end of the quarter, is going to make a world of difference for our numbers. And
Jeff Winters:can I say, broadly speaking, and I know I'm an asshole and I'm old school, and you would hate to work for me. I know all those things. There's nobody I talk to who says I don't talk to my manager, but once a quarter or once a year, who's not taking advantage of that? Yeah? And there, and it's like, yeah, no, it's cool. I don't even have to tell them I'm out, like, or tell her I'm out, I'm and I'm out all week. And it's like, well, that, that, that, to me, is, is the thing, yeah, and that's, that's what I hear. And, man, you could argue, well, but then when they are working, think of how much more productive and fulfilled and this and that. I don't think so. I don't buy it. I think it's bullshit. Yeah, I really do. I think, I think regular Nick Saban says this. He says, Oh, if you don't want to be on my coaching staff, that's fine, but if you're on my coaching staff, you're going to get pressure from me every day. Yeah. Yeah. And that's their pace of play, yeah? Is your pace of play? Talking to your direct reports once a quarter?
Eric Watkins:Yeah? Just not, not a recipe for long term success. And I think it goes back to the whole like, well, like you said, I'm hitting my results. That's great, yeah, but then your results are going to look like an EKG, it's going to be up, it's going to be down, it's going to be up, it's going to be down. If you want consistent results, you have to have those frequent conversations. I think so. Look at us. Look at us. We're next. Yeah, Scott, Scott, be proud of that section right there. I hope so. Yeah, he would
Jeff Winters:definitely agree. Yes. Speaking of people I genuine, genuinely and generally agree with we're doing something we have not done thus far. It's an experiment of sorts. I hope it goes well, we shall see. We have brought in an internal expert to take over Eric's section mining for growth gold. Not that Eric's not an internal expert, but it's nice to have another voice, another voice, a second internal expert, Mac mcinnich. Mac has been with us for eight years. Eight years. He is a guru, LinkedIn, email, prospecting. He works, I'm bragging on your behalf. He works with our sales enablement team, teeing up our sales team between LinkedIn and email, scheduling 200 or so, yeah, meetings for them every single month. I mean, this guy knows help, scheduling 3000 meetings a year. This guy knows, yeah, let's see what he's got to say. I can't. Gold.
Eric Watkins:You like that intro?
Unknown:Jeff, thank you. I appreciate that intro. Took me eight years to get that intro. Yeah, you got it. First of all, thank you both for inviting me on the podcast. Jeff, Eric, yeah, absolutely hear what you have. Let's dive right into LinkedIn. We've been seeing a lot of success with it lately. Some might say it's the new email. Some might say, I'm saying it today. Yeah, we have our scale here is about 120 LinkedIn profiles, okay, connected,
Jeff Winters:meaning your messaging from 120 LinkedIn week as a corporate entity of 120 LinkedIn profiles from which we are trying to get sales meetings. That's
Unknown:right. Wow. And more to come. We're gonna we're gonna grow that over the next 90 days as well. Got it, and I have two major tips that we're going to use as kind of North Stars in this whole process. So the first one use real profiles. So those 120 profiles that I just mentioned, they are all employees of abstract and why that's important is LinkedIn is really cracking down right now, just like you talked about earlier, with Gmail cracking down on open rates, and we've seen it from Outlook in the past. There's so much prospecting going on on LinkedIn right now that people are creating these AI profiles, and there's so much AI content and all that stuff
Jeff Winters:you're saying fake profile, fake profiles. That's right, that's a no
Unknown:no no, for sure. So you got to use real profiles that will help you stand out from the crowd, especially from a scaling standpoint, right? 120 profiles, that's a lot of people. Yeah, it's just a big competitive advantage. Yeah.
Eric Watkins:And I bet there's companies out there that a aren't doing anything on LinkedIn and b Aren't activating their employees in any way, shape or form,
Unknown:that's right, and that's kind of Thank you, Eric for the second segue to my second point here is you got to verify the LinkedIn profiles. So how LinkedIn has started to crack down on this is they will disconnect profiles that have not been quote, unquote verified. And what that verification means is you got to upload a photo ID, government issued driver's license, state ID, to LinkedIn. They verify it through their algorithm or systems to make sure you are a real person, and that's a big deal. And what if you don't do that? So if you don't do that, those profiles are going to get disconnected whenever you start sending out connection requests, because, as as you both know it, you have to connect with someone before you can start messaging them right on some sort of scale. So yeah, they start with disconnecting. You are suspending your account, per se, if you start sending those connection requests. So you won't even then even get to the messaging part of things, either,
Eric Watkins:sure. So that's this is great Mac and I see a couple things coming from this. Number one, if you're hearing this episode like, congratulations, you can take be a step ahead of everybody else. And two, I would venture to say there is a lot of fake profiles and messages going out right now, so the competition in the inbox is going to drop significantly as people don't adapt to this change. So it couldn't be a better time to leverage this as a business
Jeff Winters:overall, we had a truth from LinkedIn about open rates going away on email. We have this LinkedIn tip about verification. It's getting a little harder out there. It's getting a little harder. It's getting a little harder out there. You got to be even more precise with your prospecting. Broadly speaking, what Max saying is invaluable. You do not want to be suspended. You need to be prospecting on LinkedIn. Your customers are there. I'm talking to you, whoever you are. You need to be prospecting on LinkedIn. You need to be doing it in a responsible way. Max telling you how to do
Unknown:it. Just a last thing I'll say on that. To give you context to how much activity we're seeing, we're booking two held appointments every single month per profile. So I threw that 120 profile number out earlier. That's 250 appointments
Jeff Winters:right there. So think about that like that. Could those could be your numbers if you're if you're looking for, hey, how much should I expect if I'm prospecting on LinkedIn? If you're sending 3040, 50 connection requests a day, right you should expect a meeting or two per profile per month.
Eric Watkins:That's awesome. Good tip there, yeah? Good tip, yeah. Thanks Mac. Thanks for hopping on. Yeah, of course, guys, I gotta tell you, Eric, I might be in trouble. There you go. I might be in trouble. I
Jeff Winters:did your section a couple weeks ago. Wasn't great. That was lovely. That was lovely. That was great. More guests to come, by the way, teaser, more guests to come. More generally, externally, more guests
Eric Watkins:to come. All right, we have all these new LinkedIn leads. What are we doing with them? Jeff,
Jeff Winters:so Eric last week, talked about the difference between having a huge prospect universe and a small prospect universe, and how there should be an inverse correlation between how many prospects you have and how much you should spend to acquire those prospects as customers. If you have 100 prospects that you could ever sell your stuff to, you got to spend a lot of money on them. You got to treat them like gold. And so I wanted to expand that concept. If I've spoken to a few folks at different businesses who have customers or potential customers, that number in the very few, and they want to spend the money to prospect them. But in these in these sales and with a lot of companies, the relationships are a little stickier, you know, if you think about products or services where they're a little more commoditized, we want to sell somebody. This is what they said to me, Jeff, we want to sell them. They're high dollar services. We don't have many prospects, but it's really kind of a relationship sale like, we're a little different, but we're not that different. We spend a lot of time on this show talking about highlighting your differentiation, and sometimes you got to face it, you're in a highly regulated industry. Your industry is linked to interest rates. Your industry is basically selling a commodity, or is selling an actual commodity. And there's plenty of those out there, and plenty of people who listen to the show, who are in spots like that. We need to talk to these folks here. Yeah. So what do you do if the widget you sell is the same as the widget the other person sells, and by the way, they like the other person, there's really no reason to switch. What do you do? How do you sell those people? And so here's my tip for you. My tip for you is to make sure you are getting these people in a social situation and you bring along one of your customers. This is what you do. It's the thief in the night sale. You get these people out the first time. You're beginning to build a relationship in an area where you have very few prospects. The cost is high, and it's a commodity they're buying the relationship. The first thing you're doing is you're getting them out social situation, and you're bringing a customer who's not going to be obnoxious, and they're going to wait some period of time into this, whatever engagement or social situation it is, before they start talking about you. Okay, that's the first thing you're going to do. The second thing you're going to do is, at some point, the second meeting, the third meeting, you're going to go for the give us a shot. Can we get a shot? That's it. The Can we get a shot? Because usually you can pry open the door. You want to get the first ticket. You want to get the first sale. You want to get the first whatever, just an inch. You're not fighting for this customer to send you all of their business. Generally speaking, generally, you just want to get an inch. So my tip to you is this, make sure you're getting these folks out in this particular kind of commodity driven, expensive sale into a more social situation, or a charity or a fundraiser or something. In that family, you've got a customer of yours there who loves you, who's going to be sort of helping you in a nuanced way, and then you're just going to ask for a little shot. Can I get a little piece of your insurance pie? Can I get a little piece of your ex? And once you creep open that door, you can blow it open.
Eric Watkins:Yeah, that's great. We were talking to somebody here locally, actually, that's looking at working with us. And one of the key things I thought about the they do a social event every year, and it's basically their sales development for the whole year. Huge event. Put a lot of money into it right market, it the right way, and then they bring experts that their target market would love to hear from, and in like the thief in the night thing, you give them a ton of value, and then you ask for a little bit of business.
Jeff Winters:Just a shot. Yeah, just a shot. Give us a shot. Whatever the shot is. It doesn't have to be. Sometimes the shot is, can we just look at your current situation, and evaluate it. Can audit it, like, that's, that's the kind of shot you need. Yeah, get that little shot. Because, you know, when you got a small prospecting base, you turn those people off, like, Hey, let's go grab a golf round. And, like, the whole time you're like, drinking high noons and talking about greater stuff. Is, like, that's probably your last
Eric Watkins:call from yep, yep.
Jeff Winters:So that's my tip. That's
Eric Watkins:a good tip. Thank you. Nice work. Yeah, I just think that's, uh, no, not everybody is in that spot. Some people have big Tams to total available markets to go after, but some don't, and like, You got to be. And even, I would even say, if you do, if your product is such a commodity, you're gonna have to get creative. Either you buy them, you buy them off, if it's legal, and if you don't, you got to wine them and dine them and do it that way. That's
Jeff Winters:right, but don't pounce too early. That's that's what you see so often, is it's like, Yeah, welcome to this
Eric Watkins:event. The first thing we want to do is give you an hour presentation about how good our product is. Yes, please have
Jeff Winters:a seat. I'd like to tell you how great our product great our product is, and then we're going to feed you two glasses of wine, and I'm going to tell you more, and I'm going to talk way too close to
Eric Watkins:you. Talk way too close to you, all right. Well, that's a good segue, thank you into the to do or not to do, to do or not to do. Thank you. Ryan Ryan was asleep at the wheel.
Jeff Winters:There is no cry. Yeah, it's because he's excited about the segment. He's excited to our producer. It
Eric Watkins:applies to him so big weekend coming up. Big Weekend, one of your favorite holidays of the year, indeed. And it's a what you would call a long weekend. Monday off you got Saturday, Sunday, Monday, three day weekend. Should you go out of town for these holiday weekends? Like, should you everyone's going out of town? They're going here, going there. Jeff, what do you think? First of all,
Jeff Winters:it's not what I would call a long weekend, it's what everyone would call a long weekend. It is three days. Setting that aside for a moment. When I say to people, what are you doing this weekend? And I hear headed out of town, I get A a chill go up my spine, and I immediately thank my wife that we don't have to do that, because that sounds horrific. Everything is more crowded, everything is more expensive, airport delays, and then people go, wait. We're not going to the airport. We're driving to a float trip. And I want to talk to all you float trippers out there, you do know deep in your heart that it's the worst activity you could possibly do, right? I mean, just say it out loud, I'm gonna drive to a river and I'm gonna get in a tube, and the river's always gross. There's never been a float trip on a clean river. They're always revolting. And I'm going to float on that tube for several hours. I'm going to get more sun than the CDC would recommend in a year, in three days, and I'm going to sleep outside and drink 300 white claws. Give me a break. Stay home, travel when people are home. Be home when people travel,
Eric Watkins:Zig, when they zag, yes. What about what would you say to the people that like being around a lot of people like they like the big crowds. That's part of the reason why they want to go on the holiday weekend.
Jeff Winters:I don't know. I can't I have nothing. I can. We have nothing in common. Me and those people. What can we do to what can we say to one another? I just what? I just can't even, I can't even find a justification. I mean, I get it. It's a three day weekend. I have an extra day. I'm gonna go blah, no, you're gonna stay home. Stay home. Enjoy the home. Do
Eric Watkins:you do anything at home? You
Jeff Winters:can, don't, but you could relax. Why introduce stress of holiday weekend travel when you can introduce the relaxation of holiday weekend lounging,
Eric Watkins:lounging. Okay, that's
Jeff Winters:what I want to do. I want to lounge. I want to
Eric Watkins:sit. Yeah, I'm always down for lounging. Like I It doesn't matter if it's a holiday weekend or not. Do you like holiday weekend travel? No, I don't like travel in general.
Jeff Winters:But you like to
Eric Watkins:be go other play, yeah, yeah, yeah. But like, I don't I'm bored.
Jeff Winters:We are going to go on a trip together soon. Eric and I are, yeah, undisclosed location, undisclosed you're not looking forward to that travel. I'm
Eric Watkins:definitely looking forward to that okay, but
Jeff Winters:I'm sorry, but okay. But if that were on a holiday weekend, that would be that travel is not on a holiday weekend, it's going to be stress free. This, if we had that travel on a holiday weekend, immediate, enormous stress.
Eric Watkins:If I'm going on a golf trip, I will sit in seven hours of traffic to go on that golf trip,
Jeff Winters:dude. I mean, the anxiety I would get about either, and this is tied checking a bag in a huge line of mass of people or being in unpredicted. Graphic for, I mean, the people here in St Louis, as you all know from Netflix, we have the Lake of the Ozarks portrayed completely incorrectly by that show Ozark on, but, but neither here nor there, people go in droves
Eric Watkins:pretty close to this lake. You didn't think it was portrayed. It takes forever
Jeff Winters:to get it takes two hours on a good day. And there isn't. Yeah, I don't want to get four hours. Three four hours. Usually you get there, you're on
Eric Watkins:a it's hotter, the worst drive back ever, and the drive
Jeff Winters:backs nine hours. There's 27 accidents. There's nowhere to go to the bathroom. It's a shit show. Stay home. Stay
Eric Watkins:home. You heard it here first. There you go. Well, thank you guys for tuning in. Mac, thank you for for joining us today. We love that little mining for growth. Gold as always, let's grow. Let's grow.
Unknown:The grow show is sponsored by inbound SDR, digital search that works. You.