ERA Global FT Master workbook v3

Foundation Training Client Engagement Process Useful links https://calendly.com/ https://uk.expensereduction.com/case-studies/ https://us.expensereduction.com/ https://us.expensereduction.com/case-studies/era-helps-multi- service-broadband-operator-save-six-million-annually/ https://vimeo.com/search?q=expense+reduction+analysts A few recent videos for posting online httsp://vimeo.com/366694398 https://vimeo.com/154841654 https://vimeo.com/412698452 https://vimeo.com/154841651 © Expense Reduction Analysts 2020 – All Rights Reserved. Page 51

Foundation Training Client Engagement Process Ten examples of email introductions or inmail 1. Personal or AIDA 2. Get to the point or BBB 3. Create and image or BAB 4. Pain Points or PAS 5. Question time or QVC 6. Play nice or PPP 7. Star of the show or SCH 8. Stir their feelings or SSS 9. Let them go or BYAF 10. The classic or RDM © Expense Reduction Analysts 2020 – All Rights Reserved. Page 52

Foundation Training Client Engagement Process Personal or AIDA • Attention APPROACHOR AIDA • Interest • Desire • Action PERSONAL (ATT E N T I O N - I N T E R E S T - D E S I R E -AC T I O N ) Let’s start with probably the most common copywriting model - AIDA, which focuses on a specific reader. Using this formula your email will become more personal and recipient- cantered. Moreover, AIDA-based email won’t look like a blast, but like a friendly offer from one person to another. These are the AIDA elements: Attention – Catch the prospect's attention with the subject line or opening sentence. Analyse your target audience to identify what can get them to notice you. Interest – Now that you have your target audience’s attention, appeal to their professional or personal interest. Highlight their pain points. Make it all about your prospect, not you. Desire – List all the benefits you offer, describe their value. Stimulate desire by deploying social proof, scarcity effect, exclusivity, or telling how your offer would change your prospect's life. Action – Seeing that you have caught your reader's attention, piqued their interest and built desire for your offer, it’s time to end your email by asking for a specific action. Be exact in your instructions and don’t confuse them with multiple options. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 53

Foundation Training Client Engagement Process Example Hi We know that is not easy cutting costs and expenses every year. Staying ahead of the competition, especially in your industry is essential. Time has to be spent every single day to make sure you make the right decision and stay on top. • Improved cashflow, • increased profitability, and • greater control on spending. These are things you can achieve when you find a few hidden savings in the ordinary cost areas of a business. This is where Expense Reduction Analysts specialise. If you would like to find out more about what we do and some interesting cost-busting ideas, please get in touch. Please see here for a case study or here to view my calendar for a short initial chat. Regards Notice the brevity of this email. It perfectly illustrates the one thing you should remember about cold emails - making your email as short as possible increases the chances of it getting read in full. Get to the point or BBB • Brief • Blunt • Basic © Expense Reduction Analysts 2020 – All Rights Reserved. Page 54

Foundation Training Client Engagement Process Get to the point (BRIEF-BLUNT-BASIC) The shorter, the better. People appreciate brevity and simplicity. Leave out all the unnecessary adjectives and don't go around in circles. Your BBB email should be built according to these principles: Brief – Keep it as short as possible. It was found* that shorter emails result in faster response time. Blunt – Cut right to the point. Lay out what you have to offer and why it might be useful or helpful. Basic – Keep it simple. Don't use overly elaborate words or sentence constructions. Bear in mind the person you're writing this email to. Don’t ask for an appointment or beat around the bush. This email formula produces the shortest email letters, so every word has to bring something of value. Example Hi Mark Reducing costs can be tiresome and time consuming. Let Expense Reduction Analysts do the heavy lifting for you. A have a team of experts, a proven process and a ‘no-win’ model make us a good choice as a ‘partner in profit’. If you would like to find out more about what we do and some interesting ideas, please get in touch. Please see here for a case study or here to view my calendar for a short initial chat. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 55

Foundation Training Client Engagement Process Regards In about 40 words we managed to express that we are aware of our prospect's main pain point, introduced ourselves and what we do and inspired the prospect to take action. Nothing extra. Create and image or BAB • Before IMAGEORBAB • After • Bridge CREATE AN (BEFORE-AFTER-BRIDGE) The BAB formula is designed to make a specific offer that appeals to the needs and desires of your recipient: Before – Describe a challenge your prospect faces. Make sure to only list the problems and consequences that your product or service can reduce or solve. After – Show them how awesome the future without this problem could be. If you have specific stats or numbers - use them. Bridge – Explain how your product or service can help them reach that future. For maximum effect, write one short paragraph for each element of the formula. Don’t forget about a call to action either. This formula is a big hit with cold emails. It works because it is based on the Freudian pleasure principle*, according to which humans are instinctively seeking for pleasure and avoiding the pain. These are the two main things that motivate people to act. Example © Expense Reduction Analysts 2020 – All Rights Reserved. Page 56

Foundation Training Client Engagement Process Hi Most businesses, like yours, have worked hard over the last ten years at increasing sales and reducing costs. Market pressure, online services and now covid-19 make this even more needed. But where can even more savings be found? Well, good news there are still lots of ‘invisible’ cash stuffed down the back of most corporate sofas! Please see here for a case study to see what I mean, or here to view my calendar for a short initial chat. Regards By using the BAB formula you will transform your product-focused copy into a benefit- focused one appealing to your prospects and making them convert. Pain Points or PAS • Problem PAS • Agitate • Solve PAIN POINTS OR ( P R O B LE M -AG I TAT E - S O LV E ) Similarly to the BAB formula, the PAS formula is based on determining a unique pain point. But instead of giving a vision of the glittering future free of this problem, you are pouring salt on the wound. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 57

Foundation Training Client Engagement Process It goes like this: Problem – Identify a sore point. Agitate – Hammer home the severity of this problem by going into the specifics of it. Reinforce your statement with examples, personal experience or links to sources that prove it. Solve – At this stage, you should be the hero who has a solution to the problem. The PAS formula works because pain is a greater motivator than pleasure. People are more likely to take action to avoid possible negative consequences than do something for positive gain. Causing the recipient to imagine how their problem could get worse or affect other aspects of their life will motivate them to look for a solution. Example Hi Getting value for money, managing a dynamic supply chain and online sourcing all make for a busy life! But, how can you really be sure of getting the best deal and maximise your savings from so many different suppliers? Do your team have the time to monitor every expense category and check every invoice? Let us help to put your frustration to rest with our approach to expense reduction. Take the first step… Please see watch this short video or case study or here to view my calendar for a short initial chat. Regards © Expense Reduction Analysts 2020 – All Rights Reserved. Page 58

Foundation Training Client Engagement Process -- The Problem and Agitate elements have to stir just enough frustration in your prospect to push them to action. Just make sure it's completely resolved by the Solve element - never agitate your prospect with a problem your product or service doesn't solve. Question time or QVC • Question THE QUESTIONOR QVC • Value • Proposition • Call to action IT'S ALL ABOUT (QUESTION-VALUEPROPOSITION-CALLTOACTION) Did you know that starting your email with a question helps attract the recipient's attention? It is also recommended to keep your cold email between 3 and 5 sentences. If you don’t know how to manage this complex task, use the helpful QVC formula below. Question – No need for introduction. Instead, go straight to the point and lead in with a question closely related to your offer and the recipient's problem. Value Proposition – Communicate your core message and try to highlight what makes you stand out from everyone else. Call To Action – The final point of your email should be strong. Use a closing call to action that elicits a response. Just like the BBB formula, QVC is supposed to be concise and strong. Pay attention to every word. Example © Expense Reduction Analysts 2020 – All Rights Reserved. Page 59

Foundation Training Client Engagement Process Hi Do you ever wish there was an easy way to save money and cut costs in your business? Expense Reduction Analysts (ERA) was created to help businesses like yours find savings from all areas of your business, without risk, time or trouble. If you would like to find out more about what we do and some interesting ideas, please get in touch. If you want to find a solution to profitability challenges and make budget control easier, give ERA a few minutes of your time. Please see here for a case study or here to view my calendar for a short initial chat. Regards This is one of the most effective formulas that hooks your prospect in from the very start. Try to make your email sound relaxed - more like a friendly recommendation, less like a desperate attempt to get attention. Play nice or PPP • Praise • Picture • Push The PPP formula works because, once again, psychology is at play: being praised, even by the people you don't know, releases dopamine and, as a result, improves your mood. . Praise – Open up by genuinely praising your prospect in some way. Receiving a compliment activates the same pleasure centers as receiving money*. It’s a compelling scene starter for your email. Picture – Build a cause-and-effect sequence to clearly show how your product or service can help your prospect. When you explain cause and effect, prospects trust you and your arguments more. Push – Fuel their curiosity. Give a taste of your offer, but don’t go into detail on all the benefits. Provide just enough information to excite the prospect's interest and push them to action. Example © Expense Reduction Analysts 2020 – All Rights Reserved. Page 60

Foundation Training Client Engagement Process Hello? At last, a cost-management company that only charges if and when they make savings! We can help you improve cashflow and profitability by making significant savings from everyday cost categories: • Utilities, insurance, • freight, • printing to name just a few. We work with your teams, adding to extra fire-power to their efforts. Savings of around 10% are not unusual, resulting in £000;s of savings every month. I am hoping Expense Reduction Analysts have come along at just the right time. We offer a free assessment of any cost-category. Please see here for a case study or here to view my calendar for a short initial chat. Regards A common mistake we've seen many marketers make with this formula is not putting enough effort and research into the Praise element. It's the main element of this formula that affects your prospect's decision the most. Make sure it's a genuine compliment highlighting a real, specific, and important achievement, not empty praise. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 61

Foundation Training Client Engagement Process Do not overpraise either - point out just one or two thing that make your prospect stand out to keep the human touch without sounding too salesy. Star of the show or SCH • Star • Story • Solution This SCH formula was originally designed as an advertising message. Its elements are similar to those of AIDA formula, but the key parts are more distinctive and specific. Your steps are as follows: Star – Introduce the star of the show – your idea, service or product. Make your opening positive and catchy. Chain – Provide a series of strong facts, advantages and reasons why your star will improve your recipient’s life. This part is intended to turn the recipient’s attention into interest and then into desire. Hook – Catch them with a powerful call to action. The chain is the element you should focus on. It should provide enough information to support your star and hook. This could be unique data, trusted sources, testimonials, case studies or significant use cases. Example © Expense Reduction Analysts 2020 – All Rights Reserved. Page 62

Foundation Training Client Engagement Process Hi Expense Reduction Analysts is now in its third decade and sixth recession! In good times, or bad, cost reduction is always a priority for the smarter business. Instead of cutting corners or running short of good people, why not find a partner…a partner in profit. Thankfully, we have created a unique business solution that makes savings, without taking hours of your time or reducing supplier quality. Using an in-house network over 700 cost-reduction experts we have everything you need to take cost out of your business. Best of all, if we do not find any savings, there is no charge. If you would like to find out how we work, please get in touch. Please see here for a case study or here to view my calendar for a short initial chat. Regards What makes this formula great is that it allows for a lot of creativity in your copy, so it's perfect for experimenting with new unconventional ideas. For better conversions add info about any current discounts or offers that will convince your prospect to act faster. Stir their feelings or SSS • Star • Story • Solution SSS is a short character-focused formula with the following elements: Star – Introduce the star of your story. It can be you or your prospect, as well as your idea, product, service or new feature. Story – In this paragraph talk about the problem the star faces. Keep your story coherent and captivating. Solution – Describe what turned out to be a winning situation for the star. There is no need to be too dramatic with your story. Just try to identify your prospects’ problems and stir their feelings. This will make your solution stand out. Example © Expense Reduction Analysts 2020 – All Rights Reserved. Page 63

Foundation Training Client Engagement Process Hi Expense Reduction Analysts is now in its third decade and sixth recession! We are still growing and working with new businesses all the time. Plus, we have moved with the times, adding new expense categories like bitcoin, cloud hosting and contactless banking to our list of cost-cutting experts. This unique business model makes real savings, without taking hours or your time or reducing supplier quality. We have everything you need to take cost out of your business. Best of all, if we do not find any savings, there is no charge. If you would like to find out how we work, please get in touch. Please see here for a case study or here to view my calendar for a short initial chat. Regards If you don't have a lot of experience as a copywriter, test your final copy on your coworkers and get their feedback on the Story element to make sure it's convincing and genuine enough. Let them go or BYAF • But you are free The BYAF is a very simple but extremely effective compliance- gaining technique. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 64

Foundation Training Client Engagement Process To bring it into action you just need to state that a prospect is free to refuse your offer or request. Its persuasive efficiency has been proven by 42 independent psychological studies* on more than 22.000 participants. The fact is that by recognizing the target audience’s freedom to say “no” you double your chances to receive an affirmative response. Yes, it's really as easy as that! The BYAF formula is very easy. Your email can be structured any way, as long as you add the But You Are Free element: Example Hi I enjoyed learning about your business, it is one of the leaders at what it does. To help you even more, I wanted to tell you about a great way to increase your profitability and financial efficiency. Expense Reduction Analysts (ERA) was created to help businesses like yours find savings from all areas of your business, without risk, time or trouble. If you are not interested at the moment, no problem. Thank you for taking a minute to read this email. However, If you would like to find out how we work, please get in touch. Please see here for a case study or here to view my calendar for a short initial chat. Regards © Expense Reduction Analysts 2020 – All Rights Reserved. Page 65

Foundation Training Client Engagement Process This is the formula we ourselves use most often. It doesn't require much planning or structure - the BYAF element takes away the objection that is automatically stirred in any prospect receiving a cold email as it takes off any pressure to respond or act on your offer. It also makes you come across friendlier in the eyes of the prospect, which is always an advantage The classic or RDM Reader’s digest model • They are fact- packed • They are telegraphic • They are specific • There are few adjectives • They arouse curiosity This model is based on John Caples’ study of the structure of the Reader’s Digest articles from his classic book Tested Advertising Methods*. According to him, the best articles all have a couple of things in common : ● They are fact-packed ● They are telegraphic ● They are specific ● There are few adjectives ● They arouse curiosity Make sure your email checks all the boxes. This formula is what you could call an oldie but a goodie. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 66

Foundation Training Client Engagement Process Example __ Success in business is about two things: Generating cash and not spending it! Simple, but not always easy. Here at Expense Reduction Analysts, we can use our proven methods and experts to make the cost-saving part easier. Here is how: 8. A system that can save businesses between 5 and 15% of commodity costs. 9. An international team of 700+ cost category experts 10. A proven methodology that finds real savings in over 40 everyday expense items 11. A risk-free reward approach that is based on actual savings made, not consulting fees. 12. Monitoring of costs, quality and performance of your target cost categories 13. A long-term partnership approach that saves you and your staff time These points make ERA. If you would like to find out how we work, please get in touch. You here to view my calendar for a short initial chat or simply reply to this email Regards --- These elements are exactly the qualities any email marketer will name when describing a good email copy. Make sure to top it off with a great CTA or an open question that will push the recipient to respond. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 67

Foundation Training Client Engagement Process Examples and ideas for email writing There is no ONE best way, just ideas that work more of the time. Here are few. Key phrases and points to make 1. I would like to meet you personally 2. Discuss and share ideas from other companies, similar to yours, that have saved time and money, improve results. 3. What I have to discuss is new, interesting and different 4. Will help you solve some of the day-to-day issues you might face, such as… 5. Keep you up to date on …. 6. Share best practice with regards to …. 7. Information that will be useful either now or in the future 8. Just need 20 minutes, short initial meeting 9. Forthcoming, not yet released 10. Get your opinion and ideas on Do not ask for the appointment Sometimes, the best way to make an appointment via email is to avoid asking for it. Instead, help the prospect self-qualify the appointment. Through a quick exchange of short emails, prospects will become curious about your solution to their problem or goal. Curious enough to ultimately ask YOU for the appointment. Success at making appointments via email is mostly about: • Not saying “too much, too fast” about you—and NOT asking for the appointment; • Helping prospects feel an urge to tell you what most important right is now; • Sparking the buyers’ curiosity about how you might help (not your solution). Series of three Have a series of emails, assuming you get no response to the first, something like 1. I am contacting you… 2. Not sure if you saw my last email, just in case you didn’t…. 3. Did not get a response to my last email, but wanted to check if… © Expense Reduction Analysts 2020 – All Rights Reserved. Page 68

Foundation Training Client Engagement Process Example emails Hi (FIRST NAME), My name is …………. and I am a ……… for ………. This is just a guess, but based on your online profile, you seem to be the right person to connect with. Or, if not, maybe you can point me in the right direction? I’d like to speak with someone from (company name) who’s responsible for ……… If that’s you, would you be open to a 15-minute call on (specific time/date) to discuss ways we can more specifically help your business? Or, if not you, can you please put me in touch with the right person? Please visit our website for more information on the ways we can assist your business and teams to improve ………three known challenges If you would like more information, please get in touch to arrange a meeting or call. 4 Regards, ……………………………………………………… Dear…… Working with other <their job title / type of business, recurring issues they have been challenged with are (list three areas) I have recently helped numerous companies such as……….. to overcome those challenges resulting in substantial, measurable and sustainable increases in revenue A strategy I have seen a lot of success with is…….. With the limited knowledge I have about your Company, I have a few suggestions around strategies you may consider useful are ……………………………… Are these some of the challenges you are currently faced with? – I have some ideas I would like share with you – If you have no objection I will give you a call over the next few days? Kind regards, © Expense Reduction Analysts 2020 – All Rights Reserved. Page 69

Foundation Training Client Engagement Process Making appointments by telephone Five a day 1. Send five personalized emails 2. Speak to five new contacts 3. Speak to five old contacts 4. Follow five companies and connect with five new people on LinkedIn 5. Send five LinkedIn messages or posts © Expense Reduction Analysts 2020 – All Rights Reserved. Page 70

Foundation Training Client Engagement Process Ten Tips for Successful Phone Calling Many businesspeople would rather spend an entire day in a dentist’s chair than go spend time phone calling. These phone calling tips won’t eliminate your fear, but they will help you make calling a more successful experience. 1. Focus on the goal when phone calling Beginners tend to think that phone calling is about making the sale. It’s not. It’s the chance to make the sale. Specifically, the purpose of a call is to set an appointment to make the pitch. 2. Research your markets and prospects You need to target your calls to the right audience. Use market research to focus on your target market. Then find out as much as you possibly can about the company or individual you are going to call in advance. This gives you the huge advantage of being able to talk about their business and their needs when you call them. 3. Prepare an opening statement for your cold call This lets you organize your thoughts before calling and helps you avoid common mistakes in the opening of the call that would give the person you are calling the chance to terminate the conversation. For instance, you should never ask, “Is this a good time to talk?” or “How are you today?” Do not read your opening statement into the phone, but use it as a framework to get the call and conversation off to a good start. 4. What should be in the opening statement of your cold call? This organizational scheme for phone calling works well: Include a greeting and introduction, a reference point (something about the prospect), the benefits of your product or service and a transition to a question or dialogue. For example “Good afternoon, Ms. Marshall. This is Ken Brown with Green Works. I read in the local paper that you recently broke ground for a new office complex. We specialize in commercial landscape services that allow you to reduce in-house maintenance costs and comply with the city’s new environmental regulations. I’d like to ask a few questions to determine whether one of our programs might meet your needs.” 5. Prepare a phone call outline for the rest of your call Lay out the benefits of your product or service and the reasons your prospect should buy. Write out possible objections and your answer to them. Without a phone calling outline, it’s too easy to leave something out or meander. Once again, it’s not that you’ll be reading your outline word for word when you call, but that you’ve prepared the framework of the call in advance. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 71

Foundation Training Client Engagement Process 6. Ask for an appointment at a specific time when phone calling Say “Would Wednesday at 11 a.m. be a good time to meet?” instead of saying “Can I meet with you to discuss this next week?” 7. Remember that gatekeepers are your allies not your foes Be pleasant to whoever picks up the phone or is guarding the inner sanctum when phone calling. Develop strategies to get the gatekeeper on your side. Sometimes asking, “I wonder if you could help me?” will help you get the information you need, such as the name of the right person to talk to or when the best time to contact the prospect is. Learning the names of gatekeepers and being friendly when calling helps too. 8.Smooth the way for your cold call by sending or a promotional item This helps break the ice and makes your business stand out from the crowd. Pat Cavanaugh, sales guru of Inc.com says, “It’s amazing. A crazy little item we’ve sent out has helped us get Fortune 500 accounts. When we call, they say, Oh yeah......you were the one that sent me that.....” 9. Do our phone calling early in the morning if possible That’s the best time to reach the decision maker directly, and for most people, the time that they’re most energized. 10. Be persistent when phone calling “Eighty percent of new sales are made after the fifth contact, yet the majority of sales people give up after the second call” And above all, practice, practice, practice. While phone calling may never be much fun for you, you can get better at it, and the more you practice, the more effective a sales tactic itwill be. The people who want to do business with you are out there – but you have to let them © Expense Reduction Analysts 2020 – All Rights Reserved. Page 72

Foundation Training Client Engagement Process know about you first. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 73

Foundation Training Client Engagement Process Organised Persistence Checklists and Process Key: Repeat contacting of target prospects and referral contacts – every 10 weeks. Stage 1: First 10 weeks Stage 2: 10-20 weeks Stage 3: 30-40 weeks • Make first contact • Increase phone • Telephone all with 15-25 new activity, drop contacts and contacts per week: individual emails connections, doubling Email, LinkedIn, telephone activity. phone. • Setup weekly email sends for all 150-250 • Continue weekly • Schedule informal contacts using email email marketing. meetings or calls with marketing system. referral contacts. (within CRM) • Replace unsubscribes or “go-away” with new • Join online and offline • Increase content leads. networking and posting/sharing business groups • Public speaking, • Build network of events, live online. • Decide and start professional using CRM system introducers, 5-10 • Keep in contact with introducer contacts 8-10 first meetings 10-15 first meetings over 10 weeks 10+ first meetings 6-10 second meetings 10+ second meetings CRM such as pipedrive, freshworks, insightly, hubspot, zoho,streak, etc. with email marketing. Daily checklist 1. Check, update and review contact activity on CRM – one hour 2. LinkedIn: Check and connect with new contacts; follow people and companies 3. Send 5+ emails to new, first time contacts 4. Send 5+ emails to existing or previous contacts 5. Speak to five new people* 6. Speak to five previous contacts* 7. Schedule calls and emails for tomorrow *these can be suspects, prospects, referral contacts. Weekly checklist 1. Write and send weekly email marketing and schedule individual emails 2. Review prospecting activity from last week; set goal for this week. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 74

Foundation Training Client Engagement Process 3. Go through pipeline and best few prospects; follow-up last week’s meetings. 4. Plan and prepare for this week’s meetings. 5. Write posts, articles or source from feeds: pocket, Reuters, google alerts, etc. Monthly checklist 1. Make changes to target prospect list 2. Update sales resources, content, emails etc. 3. Review and adjust marketing messages and sales approach. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 75

Foundation Training Client Engagement Process Key points 1. Telephone calling works, people are using every day with consistent results. 2. It is much easier than you think. 3. It is very cost-effective, and anyone can do it. 4. Activity breeds ability, everyone is rubbish when they first start doing it. 5. The only failure is not doing telephone calls in the first place. 6. If your competitors are doing it, and you are not, watch out. 7. People that say it doesn’t work probably are too chicken to try it. 8. “No’s” are not a bad thing…they are good thing. Two is not enough. Success is more likely after the sixth attempt. 9. Nothing sells itself. Somebody has to, and that can be you. 10. People know who we are! They probably do not. Customers cannot buy from you unless they know you exist, and you make easy for them. 11. Questions are more important than selling points. 12. 5% of people are taking 85% of new business. The triple ‘A’ model for sales prospecting Activity Attitude Accountability © Expense Reduction Analysts 2020 – All Rights Reserved. Page 76

Foundation Training Client Engagement Process Telephone calling – some guidance tips Failures will always out-number successes but don’t take this personally. 1. Always show a deep interest in your customers. 2. Treat each call as new and individual. 3. Prepare objectives but don’t expect too much from your first call. 4. Go at the pace of the customer. 5. When you hear something positive – ask for some form of commitment. 6. Close on small steps – in selling, if you don’t ask you won’t get!! 7. If you her something negative – acknowledge it and talk about it. 8. Let the customer guide the topic of conversation. 9. Prepare the call; gather all the information you have about the customer before you ring. 10. Work out your opening statement. It will do more than get you started. 11. Do not ask for commitment in your opening statement. Too much too soon. Follow some basic rules 1. Put the customer first and run the call the way they want. 2. You must have a greeting; good morning or afternoon. 3. Reconfirm their name – not yours. 4. Consider using just your first name if your full name is unusual or difficult to pronounce. You might even have an acceptable nickname! 5. Make a “big fat claim” to justify the customer giving you their time. 6. Have factual and emotional evidence to back your claim. 7. Finish with a question to invite a response. If they interrupt – great! 8. You might ask if they can spare a couple of minutes for you. If they cannot, arrange to ring back. Make an “appointment” to ring back. It’s not a cold call then is it? 9. All of this has to be finished within 12 seconds. So, you need to prepare carefully. 10. Record your opening, listen to it and practice varying your voice. 11. Only change one thing at a time. 12. When you are successful, ask why? Get feedback and develop your skills. 13. Be honest and you will be more comfortable sound confident. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 77

Foundation Training Client Engagement Process Telephone calling prompt sheet – part 1 opening the call Now, using your email and other notes as a guide, create a telephone prompt sheet or cards Connecting - example Hello, good morning, my name is …….. I am calling from ERA – expense reduction analysts - how are you? The reason I am calling is …(select) • to make an initial contact and find out more about your approach to • because we have not spoken before • to follow up my email from yesterday • I liked your online post • I was given your name by… • To follow up our meeting at the networking event last week • I noticed your recent post/press release • I have an idea that I think you might find of interest • I love cold calling • I have recently been working with a business very similar to yours ….. do you have a moment to talk now? Great…. may I ask if you have heard of ERA – expense reduction analysts How much do you know about ------? (present short impact statement / elevator pitch) Now make notes on how you will start a call – first few seconds © Expense Reduction Analysts 2020 – All Rights Reserved. Page 78

Foundation Training Client Engagement Process Suggested call outline Voice is slow, confident, matter of fact, serious. You Hello. Good morning John <name> My name is <your name> I am calling from expense reduction analysts The reason I am calling you today is to follow up and email I sent you yesterday. / some other reason And to see if we can get a date in the diary for a short initial meeting. Do you have a couple of minutes to talk now? (pause) Prospect You Thank you, I would imagine you are facing a few challenges in your business this year, how much s cost management and expense reduction a priority for you over the next 12 months? Prospect You Are you working with any other cost management or procurement consultants right now? Prospect You Okay, here at ERA we help businesses similar to yours improve their profitability and cash-flow. We do this by finding real savings in secondary cost categories such as insurance, utilities and printing and many others Are these areas that you have targeted for potential savings or would like to this year? Prospect You You probably have your primary costs well managed by your existing procurement people. However, in our experience there are often many other cost categories where savings can be made, but organisations lack the time or expertise. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 79

Foundation Training Client Engagement Process Prospect One of the unique things about ERA is that we operate on a completely You risk-free basis – no savings, no fee. Prospect How does that work? Rather than try and explain it now, would it be possible to fix-up a short initial meeting to discuss your current approach to making savings and share some ideas with you? How we go about finding savings that others cannot, for example? How is your diary fixed for next week, for an online meeting, say 30 minutes? Put offs Possible response Too busy I just need 30 minutes; I promise to brief Not a priority I would just like to share some ideas that I think you will find of interest for the future, when things change You to talk to procurement I would be pleased to, but we work more strategically and need your agreement before contacting anyone else. Can you send me No, not really. It is something I need to discuss and explain something in a meeting. We already do this Great, we can add new cost categories or free up your people’s time up for other important projects I don’t think you will find any You might be right, but it will cost you nothing to let us find savings about. It would be good to find out either way. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 80

Foundation Training Client Engagement Process Summary of some more key points 1) Only sell the appointment 2) Remember “no’s” are “not now” 3) Put the customer first and run the call the way they want. 4) You must have a greeting; good morning or afternoon. 5) Reconfirm their name – not yours. 6) Consider using just your first name if your full name is unusual or difficult to pronounce. You might even have an acceptable nickname! 7) Make a “big fat claim” to justify the customer giving you their time. 8) You might ask if they can spare a couple of minutes for you. If they cannot, arrange to ring back. Make an “appointment” to ring back. It’s not a cold call then is it? 9) All of this has to be finished within 12 seconds. So, you need to prepare carefully. A numbers game, where the chances of turn down are higher than in other sales areas. Failures will always out-number successes but don’t take this personally and do not resort to techniques that apply pressure or make people feel threatened. • Always show a deep interest in your customers. • Treat each call as new and individual. Avoids boredom and has a positive effect. • Prepare objectives but don’t expect too much from your first call. • Go at the pace of the customer. • When you hear something positive – ask for some form of commitment. • Close on small steps – in selling, if you don’t ask you won’t get!! • If you her something negative – acknowledge it and talk about it. • Let the customer guide the topic of conversation. • Prepare the call; gather all the information you have about the customer before you ring. • Work out your opening statement. It will do no more than get you started. • Do not ask for commitment in your opening statement. It’s asking too much too soon. • Only sell the appointment, do not get drawn into product or service discussions. • Build conversation by repeating the last four words and prompting as a question. Prepare some key phrases, questions: © Expense Reduction Analysts 2020 – All Rights Reserved. Page 81

Foundation Training Client Engagement Process Day Three Agenda – Day Three: The discovery meeting 1. Client engagement process / Warm calling 2. First meeting skills 1 3. First meeting skills 2 4. Role-play – discovery meeting The Discvery Meeting and Customer Consulting skills Key points in this part: 1. How to structure a discovery (first) meeting 2. Develop rapport skills and adapt to different personalities 3. A structured questioning model 4. Presenting ERA methodology and value through insight 5. Answering client questions and concerns at this stage © Expense Reduction Analysts 2020 – All Rights Reserved. Page 82

Foundation Training Client Engagement Process The Three Principles of Consultative Engagement Three principles of client engagement Focus on Earn Persuade through Focus on the customer Earn the right Persuade through involvement These principles serve as the underlying foundation of the consultative business development process and all business development activities. Principle Actions Focus on the customer • View the customer as the centre of the business development process. Concentrate on the customer’s buying steps, rather than on your business development process or agenda. • Make everything you say or do vital to the business development interaction and of value to the customer. Establish credibility – earn the • Ask questions after the customer understands why right sharing information is important. • Propose a situation after the customer perceives his or her need as urgent. • Close after the customer has sufficient information to make a decision. Persuade through involvement • Allow the customer to give information. • Talk less. Listen more. • View opposition as a sign of involvement. • Help the customer to solve the problem or meet a need. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 83

Foundation Training Client Engagement Process The ERA Consultative Engagement Process Approaching Exploring needs The Exploring and Proposing and process developing closing options Implementing Maintaining results and growing relationships Principle Implication Focus on the customer Help customer’s analyses their present situations and develop clear statements of needs to solve problems. Earn the right to advance Gather quality information about what problems customers are trying to solve; do not “pitch” your products. Persuade through Help customers articulate their situations and problems involvement rather than define their needs for them. High-performing consultant is committed to a client engagement process as a way of life. Any client acquisition process may include numerous activities, but the consultative process, across all businesses, includes: 1. Approaching, 2. Exploring needs, 3. Exploring and developing options, 4. Proposing and closing, 5. Implementing and demonstrating results, © Expense Reduction Analysts 2020 – All Rights Reserved. Page 84

Foundation Training Client Engagement Process 6. Maintaining and growing relationships. The process is continuous, beginning with the customer. The Driving Principles are the foundation of the client engagement process and are woven throughout the process. Qualifying is an integral part of every phase of the client engagement process. Summary Prospecting 1. Developing a list of high-potential prospective business situations in accordance with organisation and business criteria for desired customers. 2. Analysing and qualifying prospects, with the use of tools. 3. Pursuing business opportunities; getting a face-to- face appointment with the prospect. Exploring needs 4. Exploring the customer’s legitimate urgency perceived needs builds and excitement about taking action. Exploring and 5. Exploring and developing options is creating or developing options selecting with the customer, options that will satisfy his or her needs. Proposing and 6. Proposing and closing means obtaining strong, Closing enthusiastic commitment from the customer to move forward. Implementing and 7. Implementing and demonstrating results includes Demonstrating exceeding the customer’s expectations throughout Results the implementation of your solutions and working internal, with operations to ensure a smooth handoff. Maintaining and 8. Maintain and growing relationships includes Growing measuring and ensuring the customer’s Relationships understanding of the value of your involvement in the account and maintaining and growing the relationship on an ongoing basis. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 85

Foundation Training Client Engagement Process The customer’s buying steps Advancing the process Committed Convinced Gaining final Strong Presenting agreement interest solutions No Low Options interest interest Payoffs Consequences Capability Needs statement During the client engagement process, the customer goes through a series of buying steps. Each step reflects how the customer feels at various stages of the relationship during the client engagement process. Buying Step Customer feels 1 No interests 2 Low interest 3 Strong interest 4 Convinced 5 Committed At each step, there is a client engagement strategy that enables the client consultant to help the customer progress up the buying steps. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 86

Foundation Training Client Engagement Process No interest In many situations, your prospect (customer) may have little or no interest in your product or service initially. At this point you are in the prospecting phase of the client engagement process. Capability Statements The client engagement strategy that you should use to proceed to the second phase is the capability statement. A capability statement describes the benefits of working with you and your company and relates them to the probable needs of your customer. Low Interest At the second step, your customer may have low interests in your project or services. To move to the next buying step, you must explore and get significant information about: • the customer • his or her situation • the needs and the problems the customer is trying to address Spend more time and attention on this step of the process than any other. There are two areas you need to address: Area Actions Exploring needs • View a need as a gap between where the customer perceives he or she is now and where he or she wants to be. • Explore and discuss consequences or negative implications of not closing the gap. • Explore and discuss value or the benefit of closing the gap. Exploring options • View options as choices that the customer should consider closing the gap. • Explore and develop options that meet the customer’s needs. Strong interest At the third step, your customer has strong interest in your product or service. Now, you must propose solutions. To propose solutions and make an effective presentation, link customer needs to the benefits that your customer can derive from your product or service. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 87

Foundation Training Client Engagement Process Convinced At the fourth step, your customer is convinced that your product or service will meet his or hers needs. To move to the final step, you must close the sale. It is the logical outcome of an effective presentation. The close should be; • direct • concise • non-manipulative Committed An effective close takes the customer to the fifth and final step, in which the customer is committed to your product or service as the means of meeting his or her need. Conclusion By focusing on your customer’s buying steps, you are seeing the situation from the customer’s point of view. It is critical that you stay in touch with the customer’s progress throughout the buying process. In conclusion be aware of these points: Close at the right time The biggest impediment to successful client engagement calls is the inclination to close at the wrong time. Example If your customer is at the low interest phase, it is not appropriate to be presenting solutions or closing. You have not earned the right. Be perceptive and remain flexible • it may not be necessary to move the customer through all buying steps; you may encounter a customer anywhere in the buying process • depending on the customer’s specific needs, you will need to shape your approach to the client engagement process • you must perceive where the customer is in the buying process and devise your client engagement strategy accordingly • ns and reasons to meet! © Expense Reduction Analysts 2020 – All Rights Reserved. Page 88

Foundation Training Client Engagement Process First meeting is about discovery Introduction and objectives Expense Reduction Analysts overview First meeting Understanding the client’s Business challenges agenda situation Current approach Areas of improvement ERA How we work – linking to above Questions from client, any concerns? Summary – linking to confirming need for second meeting; confirming details. Common unforced errors – first meeting 1. Not enough preparation 2. Too much (of the wrong type) preparation 3. Talking too much - “Telling is not selling.” 4. Not probing for pain and gain points 5. Asking ‘dud’ questions – no point 6. Switching to pitch mode too early 7. Not allowing prospect to ask questions 8. Talking past the close 9. ? 10. ? © Expense Reduction Analysts 2020 – All Rights Reserved. Page 89

Foundation Training Client Engagement Process ERA in three slides What makes ERA different? “We’re essentially a small fish when it comes to procurement and ERA, with their sheer scale and • Our ‘Success Fee’ business proposition leverage, can get much better deals for us. That more • We identify and monitor savings including than pays for any share of savings that they receive as fees. This working relationship has been nothing assisting in implementation and monitoring. • We have deep industry knowledge and expertise but win-win for us.” David White, in more than 40 cost areas. • Our consultants work together to deliver the best Head of Procurement, Sue Ryder possible service and added value to the client. expensereduction.com Headline savings Ongoing Maverick spend Non-compliance with Unjustified price Management contracted items increases Staff buying from ERA consultants unapproved Suppliers will deploy a range of Suppliers will apply unjustified monitor their clients’ suppliers tactics to get your staff buying price increases often disguised as savings in order to off-contract items at off-contract ensure expectations ‘fuel surcharges’, ‘inflationary are met… prices adjustments’ or ‘currency fluctuations’. Alignment of Not claiming rebates strategic objectives Suppliers and clients alike forget to Not sharing your core objectives with all claim rebates and further discounts suppliers is a barrier to maintaining best value. Why not host an annual supplier day? from original contract items Buying for price Lack of innovation Real savings not value Without professional supplier expensereduction.com Taking a ‘cheaper’ price relationship management few suppliers can result in lower value take the time to be proactive in helping you adopt new technology or products © Expense Reduction Analysts 2020 – All Rights Reserved. Page 90

Foundation Training Client Engagement Process How we work – The Four Step Methodology Our process to optimize your cost We’ll look at your expenses and do a health check to see if we can find ways to optimize your costs – and we’ll carry the risk and only share the savings if we are successful. Analysis Research Selection Monitoring Situation Options Implementing Performance Report Report of Option(s) Reports 4-6 weeks 4-6 weeks 2-4 weeks 24+ months Our simple process adds value at every stage. You benefit from expert external resource, market knowledge and exceptional delivery. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 91

Foundation Training Client Engagement Process Ten steps to establishing rapport with your prospect Establishing rapport – having people like us and remember us fondly – is an invaluable skill. Whether you are in a business, a friendship, a relationship, selling, or just want to be more well-liked, rapport building skills can help you achieve your goals. Remember that the key to all rapport building is sincerity and bringing a true love of others to your new relationships. With that in mind, let’s get started: 1 Listen Listening is the ‘King’ of all rapport building skills. EVERYONE loves to be listened to! Think about it. How do you feel when someone ignores you or talks over you? Do you feel connected to these people? NO! Who are the people you are closest to? I strongly suspect that they are the people who listen to you intently and are concerned about your issues and wellbeing. Right? Listening says, ‘I’m listening because you, and therefore what you have to say, is important’. People’s greatest desire is to be truly listened to. Help them accomplish this most important goal, and they will like and admire you for it. Practice ‘conversational generosity’ – don’t speak more than 30% of the time (10-20% is optimal). 2 Link interests Opposites DON’T attract! People like each because of their similarities. So, whenever possible, notice similar interests and be sure to talk about and expand on them. This may take some searching and questioning to discover their interests but that’s okay – people will be glad that you are so interested in them that you ask several questions about them. Even if you don’t have any similar activities, have them discuss an area you find interesting or want to explore. 3 Ask for advice People are always happy to give advice and will quickly associate that sense of happiness with you. Aren’t your friends the ones you go to for advice? How can this person give you advice and not be your friend? See how strong this link is? People also admire someone who can ask for and accept advice. So, few people can do this well, that it has become an admirable trait. Try it and see. 4 Compliments and praise No, this is NOT ‘kissing up’ or being phoney – that never works! What we are looking to do here is notice the praise-worthy things that people do and then mention them appropriately. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 92

Foundation Training Client Engagement Process 5 Demonstrate liking and appreciation Most people instinctively like people who like them (and vice versa). Many people like each other, but rarely tell each other. I make it a point to tell my friends that I like them and appreciate them – they already know this, but it’s still great to hear. With people I’ve just met, if I like them, I say things like: ‘It’s been great getting to know you; I love to meet warm, open people.’ ‘I really liked the way you talked about….’ ‘Thank you for making me feel so welcome, I had a great time today Sincere appreciation like this supports friendship and cements relationships. 6 Adopt their values / beliefs As you are listening to the other person speak, notice their values / beliefs, and discuss areas where your values / beliefs sincerely overlap with theirs. Remember when I said it is best to speak 30% or less of the time? Take at least half of this time and use it to agree with, support, or expand on whatever the other person was talking about. You will never make a friend by disagreeing with them. Let points you don’t agree with slip by, and chime in when you hear something you agree with. By doing this you will make a friend and, at the same time, subtly promote the areas you believe in and starve the areas you don’t. 7 Enthusiasm Communication is the transfer of energy / emotion. Everyone seems to love someone with enthusiasm because we all admire it and wish we had more! Enthusiastic people seem to brighten up a room with their positive energy, and we want that to rub off on us, we want to be a part of it. When someone is enthusiastic about our thoughts and ideas, we immediately feel understood, appreciated and just plain great! No one will ever be offended by you getting excited about their ideas! 8 Matching and mirroring Matching and mirroring simply means that we match the behaviours of the other person to help create alignment with them. If they cross their legs, you should do the same shortly after. If they tend to talk more slowly, slow your rhythm down so that it’s closer to theirs. If they use certain lingo, you can use it later in the conversation. If they are reserved, you should be more reserved. And so on. Remember, we like people who are like us. This is a natural process that most people do unconsciously anyway – now you know about it you can do it consciously. It’s a very powerful tool © Expense Reduction Analysts 2020 – All Rights Reserved. Page 93

Foundation Training Client Engagement Process because vocal tone / speed and body language account for 93% of communication. This tool will make people very comfortable around you and is a very subtle technique. 9 Smile and warmth The first contact with another person is your face! Make sure that you present as warm, friendly and happy. A smile and a sincere desire for friendship will resonate in your voice and be demonstrated in your every action. First impressions are powerful; present the way you want to be remembered. Smiling shows that you are happy to see the other person and like them. Smiling and warmth make others feel good around you. This is a lost skill, so use it and you will shine. 10 Attending skills This simply means that you attend to the needs of the people you are with. It follows the lines of simple good manners, e.g., holding the door for someone, offering them a drink or a chair, buying them lunch, shaking their hand right away when you see them, etc. Almost any small courtesy or act of kindness falls into this category. These simple acts say without words that the other person is liked, respected and appreciated. (And an action is worth what? That’s right! A thousand words!) Client Get attention • One of six prospecting methods Engagement Steps 1st meeting: Discovery • Uncover 3+ cost categories and explain ERA 2nd meeting: Proposal • Completed CEL and two page exec. summary Follow up • Progressing or kick-off meeting © Expense Reduction Analysts 2020 – All Rights Reserved. Page 94

Foundation Training Client Engagement Process © Expense Reduction Analysts 2020 – All Rights Reserved. Page 95

Foundation Training Client Engagement Process How to structure a discovery meeting (first) What is the objective of a first meeting? Must Intend Like Discuss How can you best prepare for and personalise this meeting? © Expense Reduction Analysts 2020 – All Rights Reserved. Page 96

Foundation Training Client Engagement Process First meeting agenda 1. Introduction and objectives 2. ERA overview 3. Understanding the client’s situation a. Discovery and qualification questions b. Business challenges – confirming and expanding c. Current approach to cost management/profit improvement d. Possible areas of improvement and value improvement points (VIP) 4. ERA: How we work – linking to VIP above 5. Questions from client, any concerns? 6. Summary of VIP – linking to confirming need for second meeting; confirming details. The meeting will be in three parts, with the client talking around 50% or more. Task Make notes on the how best to apply the three driving principles in this first meeting, especially in the first few minutes. Focus on the customer Earn the right Persuade through involvement © Expense Reduction Analysts 2020 – All Rights Reserved. Page 97

Foundation Training Client Engagement Process Prep 1: Discovery meeting introduction • Introduction and objectives • ERA overview Task Based on your chosen example company: 1. Prepare (write out word for word) your opening for the meeting, which should include: a. Purpose and objectives b. Benefit to client c. Check time and client agrees d. Agreement to answer your questions 2. Prepare an ERA short initial impact statement – tailored to their company and industry sector if possible - what we offer, benefits, capability and credibility. Notes © Expense Reduction Analysts 2020 – All Rights Reserved. Page 98

Foundation Training Client Engagement Process Prep 2: Discovery meeting questioning plan Understanding the client’s situation a. Discovery and qualification questions b. Business challenges – confirming and expanding c. Current approach to cost management/profit improvement d. Possible areas of improvement and value improvement Task Based on your target prospect, create a selection of questions, in order, that you can use in a first meeting, using the headings above as a guide. © Expense Reduction Analysts 2020 – All Rights Reserved. Page 99

Foundation Training Client Engagement Process Prep 3: Discovery meeting convincing and confirming Task 1. Prepare a second ERA impact statement – this time on the four-step methodology: “How we work” Notes © Expense Reduction Analysts 2020 – All Rights Reserved. Page 100