Contacting the Prospect: Phone or Email?

Email is the preferred business communication format for most of us and the choice usually makes sense.  An email provides a written record of what the parties have discussed and any agreements that have been proposed and accepted (or not).

However, certain nuances of meaning may not be effectively transmitted in an email and for that reason, it is useful to understand when it might be advantageous to discuss certain subjects by telephone.  It is also useful to recognize when a face-to-face meeting will most likely be the ideal communication method.  Much depends upon your purpose, message and relationship with the other party, whether the topic pertains to a business matter or your personal life.

Furthermore, be sensitive to the time you choose to reach out, whether by telephone or email.  Your request for contact may get lost in the shuffle if you email or telephone on Monday morning, late afternoon on Friday, or on the day before a big holiday. 

Telephone when you would like to:

  • Build a relationship
  • Explain a complicated matter
  • Apologize for a product or service failure
  • Close a sale quickly and successfully

On the telephone, you will more easily convey your authenticity, express concerns, telegraph empathy and build trust as compared to what is usually possible through email exchanges, which can sometimes cause the writer to seem cold and can therefore lead to misunderstanding of intent.

For important goals, be advised that it’s sometimes easier for a prospect to say no when communicating by email, so if you’re hoping to get the green-light for a project or sale, pick of the phone and wager that speaking with you personally will persuade your decision-maker prospect to say yes.

When you must contact someone whom you do not know in order to jump-start a sale, picking up the telephone is what you do. A cold-call prospect who receives an email from an unknown party is almost guaranteed to interpret the outreach as spamming and no ethical sales professional wants that ugly slur attached to his/her name and reputation.  Over the telephone, you’ll be positioned to demonstrate that you are both legitimate and trustworthy.

Cold-calling takes considerable resolve and reliable sales data report that it’s effective only about 5% of the time, but you’ll improve your chance of success when you telephone the probable decision-maker.  If you encounter difficulty in reaching the prospect, experiment with the time frame; call at 7:30 – 8:30 AM (except on Mondays) or 4:30 – 6:00 PM (not on Fridays or the eve of a holiday).  When the prospect answers (s/he will!), ask if it’s a good time to speak. 

Choose email when you’d like to:

  • Simultaneously communicate with several people
  • Generate a written record of the discussion and resulting agreements
  • Follow-up
  • Ask a quick question

Should your cold-call prospect agree to evaluate information beyond what you’ve shared in the phone call, follow-up with an email in which you document the highlights of the conversation, especially time-sensitive action items. Remember to thank the prospect for taking time to speak with you and assess the usefulness of your product or service in his/her organization.

When evaluating which communication method might be most effective when planning to approach a sales prospect, consider first his/her rank within the company and probable decision-making authority, along with what you can learn or infer about his/her priorities, concerns, schedule and even age.  Younger and less senior staff members may respond more favorably to email or even SMS (text).

Both the telephone and email have their advantages throughout the sales process.  Know the preferences of whom you are communicating with (ask), remember your objectives and use the communication format that will bring to you the preferred outcome.

Thanks for reading,

Kim

Photograph: Natalie Wood in Sex and the Single Girl  (1964)

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Time-Tracking Options for Freelancers

We’re back with a review of more time-tracking services that are especially useful for Freelance consultants. Accurately documenting the time spent on project assignments is important in many ways, primarily to ensure that billable hours charged to clients are correct.  Plus, most time-tracking services will generate an invoice that you can click and send and some will also allow you to accept online payments with bank-level security.

In addition, time-tracking services generate useful reports that show the number of hours you spend on certain types of assignments, information that is useful when creating proposals for projects that you’d like to take on, since it will be necessary to predict the time you expect to spend on the proposed project, which will impact your pricing and determine whether it will be most advantageous for you and the client to choose an hourly rate or project fee payment arrangement.

Harvest

Track time spent on projects easily and efficiently with Harvest, even when you need to follow several projects that contain different tasks that are priced differently. Furthermore, when coordinating a team project, you’re able to assign and time-track various tasks within a project for specific team members.

Reporting is a strength: raw time sheet data will be presented in a visual summary that depicts how your time or the team’s time has been utilized, with key project metrics collated into intuitive reports. The service also generates professional-looking invoices based on your project fee or hourly rate, as determined by the time you’ve logged.  Click and send invoices to clients and receive online payment, confident that site security is bank-level.

Harvest is free for one person to track maximum two projects/month and $12 for one person to track an unlimited number of projects/month.  Harvest

RescueTime

Freelancers who’d like to document how they’re spending time when working on a project and who are not kept on a short leash by a manager will appreciate RescueTime.  It’s not possible to send reports to your client, but you can nevertheless track your time and obtain an accurate picture of your productivity.  You will also receive detailed reports that show you the apps and websites you visited.

As well, RescueTime will record time spent on email and the amount of time you linger on any website. If you’d like to limit the time spent on non-work related websites, then ask the system to block your browsing on any chosen site after a certain amount of time.  Further, you can set goals to inspire yourself to stay on schedule with your project. The premium service plan also allows tracking of off-line time for activities such as telephone calls and meetings. RescueTime Lite is free and RescueTime Premium costs $9.00/month, or $72.00/year.   RescueTime

Tick

Each time you submit a time entry, Tick updates your project and task budgets in real time and reports back to you.  If you regularly track time against an hourly rate determined budget, or a project fee that involves an important deadline or penalties for late completion, then Tick may be your ideal time-tracking solution. It’s also possible to track time on multiple projects simultaneously.  While the service can be used by a solo Freelancer, it is especially suited for a team.

Tick is free if a single user employs the service for one project per month, $19.00/month for an unlimited number of users who’ll track a maximum of 10 projects/month and up to $149.00 /month for an unlimited number of workers to time track an unlimited number of projects.   Tick

Toggl

If you neglect to click the session start button, the service will allow you to enter your working time after the fact, which is helpful for those who are very busy and prone to forget. The service is structured with a team in mind, but it works well for solo professionals.

The service works on all devices, desktop and mobile. Helpful analytic reports will be generated, so you’ll get the big picture of where your time is spent, depending on your assigned tasks.  There is a free version, plus Starter and Premium.  The $9.00 /month Starter package appears to give the best value to Freelancers.   Toggl

Klok

Most helpfully, the service lets users recall and analyze data from previous projects, information that enables you to develop proposals for future projects that will more accurately reflect the time needed to reach key milestones and achieve deadlines. The historical time-tracking data will also help you to price at a level that is fair to both you and the client.

The basic package includes a visual display of your time as you work, plus screenshots, exporting of time sheets, dashboard reporting and invoicing all for a one-time purchase price of $20.00 for up to three users.  Klok Cloud Sync, Klonk Pro and Klokwork Team Console are also available.   Klok

Happy Thanksgiving and thanks for reading,

Kim

Photograph: Orloj, the famous 15th century astrological clock in Prague, Czech Republic

Time-Tracking Freelance Work

How many of you use time-tracking so that you can accurately count your billable hours when on assignment? I still count hours the old-fashioned way and I know that I cheat myself out of no less than an hour or so every week. My bad! I’ve occasionally thought about time-tracking assistance, but I never knew where to begin. A new year will soon welcome us and that’s a traditional motivator to set goals and improve work habits.

As I suspected, time-tracking systems have their differences. Some are designed with remote teams in mind; others make a department manager’s life easier. Certain time-tracking systems have been created to address the needs of Freelancers and we’ll sort through a sampling here:

Due Time Tracking

Due Time is free and easy to use—just create a task, start the timer and launch your session. You can click and add notes to detail the project you’re working on. Due Time also includes an automatic idle time detection feature, so you’re able to make allowances for stepping away from your project now and again and still remain accurate in tracking your work hours.

You’ll be pleased to find that Due Time will generate hourly rate or project fee invoices when you enter the rate. Due Time makes it easy to organize client information by name, address, or even payment currency.  Due Time

TopTracker

Along with tracking the number of hours you spend on project tasks, Top Tracker offers screen shots and webcam shots that document your work. Screen shot pages can be deleted or configured to automatically blur before uploading, so that the image is recognizable to you but all text is obscured. The service works with nearly every freelancing platform and will produce a detailed project activity report to document your performance. The service is free.  TopTracker

Sighted Time Tracking and Invoicing

Sighted Time Tracking seamlessly integrates the functions of time-tracking and invoicing, packaged in either the free Basic Service plan or the Premium Plan at $4.00 /month. You can make detailed project notes for every session and also automatically send invoices for hours worked that are customized for billable hours or project fee.

Furthermore, users can send out quotes to prospects when invited to bid on a project and accept credit or debit card payments online and issue a receipt to the client. Plus, you can do it all on your desktop or mobile device.  Sighted

Tick

Each time you submit a time entry, Tick updates your project and task budgets in real time and reports it back to you.  If you regularly track your time against an hourly rate budget of project fee that involves an important deadline or penalties for late completion, then Tick may be your ideal time-tracking solution. It’s even possible to track time on multiple projects simultaneously.  While the service can be used by a solo Freelancer, it is especially suited for a team.

Tick is free if a single user employs the service for one project per month, $19.00/month for an unlimited number of users who’ll track a maximum of 10 projects/month and up to $149.00 /month for an unlimited number of workers to time track an unlimited number of projects.  Tick

Four more time-tracking options will be examined in the next post. Have a good week!

Thanks for reading,

Kim

Photograph: Sundial at the Gate of Honour at Gonville and Caius College in Cambridgeshire, England

Selling to Small Businesses

While billion dollar revenue enterprise companies, along with disruptive technology focused start-ups and their Millennial Generation hoodie-wearing founders receive overwhelming attention in the business press, let’s remember that America is a nation of primarily small and medium-sized business ventures.

As documented in a 2018 report published by the U.S. Small Business Administration, there are 27.9 million privately run businesses in the U.S. and 23 million are owned and operated by Solopreneurs.  SMBs employ 47.9 % of the private workforce (non-governmental, for-profit organizations), 58.9 million people. Twenty million SMBs have fewer than 20 employees; the median income of self-employed owners of incorporated businesses in 2016 was $50,347 and the median income of self-employed owners of sole proprietorships was $23,060.

The majority of SMBs have limited budgets for what some owners perceive as non-essential services—marketing, advertising, or IT, for example. Yet, SMB owners will from time to time of necessity feel the need to purchase such services. Timing most likely plays a big factor in your ability to make a sale but should the opportunity land in your lap, you must handle it skillfully. Selling to the SMB owner is a delicate business.  Here are a few things to keep in mind:

Demonstrate excellent value

Nevertheless, there is money to be made in the SMB market. The social media marketing company HubSpot and Google have made untold millions in profits by targeting SMBs. In your sales pitch, detail the story of a client who shared a similar goal or faced a similar challenge, so that the SMB owner can get a clear picture of how your product or service can help him/her achieve goals.

If you can provide a link to a case study that’s on your website or social media, so much the better. SMB owners are usually worried about how they can cover expenses and simultaneously make their desired profit and they are cautious about spending money.  Show your SMB prospect that your product or service will solve the problem or see to it that the goal is achieved.

Describe how your product or service can help grow the business

Profit, growth and financial stability are the big goals of SMB owners. If you want the sale, identify preferably tangible benefits that will enhance one or more of those metrics. New customer acquisition and customer retention are also important benefits to emphasize.

Deliver results in the near term

Whatever your product or service, the faster that some portion of the ROI can be documented, the better. Too many SMB owners are concerned about cash-flow and they need to see that their investment in your product or service delivers the expected results ASAP.  When considering whether to pursue the SMB market, evaluate whether your product or service can deliver benefits quickly, at least in part.

Follow up and follow through

When selling to the SMB owner, you would be wise to under-promise and over-deliver. Your enthusiastic sales presentation must carry forward into enthusiastic customer service as well. If there is difficulty with the implementation of the product or service you sold them, meaning that the ROI cannot materialize within the expected time frame, your SMB client may very well discontinue the service and cancel future orders if you do not quickly rectify the problem.

But if you are knowledgeable, transparent and dependable, you will be positioned to  receive repeat business from your client and referrals to colleagues in his/her network.  SMB owners are often part of a community of trusted fellow business owners and most will be happy to spread the word about your good work.

Thanks for reading,

Kim

 

Photograph: The Arthur Anderson Barber Shop in Mattoon, IL circa 1920. Mr. Anderson is standing at right, and employee Sidney Williams stands at left.                                 Courtesy of Eastern Illinois University