I heard an expression last week that resonated so strongly I wanted to share it.
I had just attended an excellent meeting with Jay from ANZ Bank, part of our referral partner network. It was a highly focused hour of business, with clearly defined goals and positive outcomes.
As we wrapped up, I complimented Jay on the meeting because it was an outstanding example of how quality content and careful planning can create great results.
I shared with Jay my approach to sales team coaching explaining that I always advise teams to steer away from a casual ‘let’s catch up for coffee’ and stress the need to thoroughly prepare for a sales or client meeting by:
In return, Jay shared an internal insight with me. At ANZ, the ‘let’s catch up for coffee’ approach is called a ‘coffee and doughnut meeting’.
“The doughnut represents a big fat zero. The zero value that the client and the bank will get from such a meeting,” he said.
I could not have described this ‘waste of time’ better.
According to research by authors Matthew Dixon and Brent Adamson, 87% of buyers do not feel they have received any value from meetings with sales people*.
And when you consider that sales people only spend 35% of their time in actual sales engagement^, that’s a significant amount of wasted time.
So next time you call a meeting – whether internal, sales related or with a client – start here:
Let’s make it easier for sales people to stay focused and meet their targets. If you want to know more about maximising meetings, I’d welcome the opportunity to meet with you (I promise I’ll provide an agenda).
Feel free to send an email to email@example.com to arrange an appointment.
*‘The Challenger Sale’ by Matthew Dixon and Brent Adamson
^CSO Insights https://www.csoinsights.com