“If you could change anything about the way you approach selling, the thing that will make the biggest difference would be your attitude — your attitude toward your customers, your service, the benefits of your products, your employer, and yourself." -Dan Brent Burt
There was a recent study conducted by the prestigious Harvard Business School* that surveyed 138 customers from a broad range of industries, who are responsible for making business-to-business purchases for large companies in North America.
The following statistics clearly show that attention and care must ALWAYS be paid to how you sell and the manner in which you sell!
According to the Harvard findings…
26% of sales people "Don't follow my company's buying process"
18% "Don't listen to my needs"
17% "Don't follow up"
12% "Are pushy, agressive, or disrespectful"
10% "Don't explain solutions adequately"
6% "Make exaggerated or inaccurate claims"
4% "Don't understand my business"
3% "Are too familiar"
2% "Don't know or respect the competition"
2% Other (such as charge high prices)
Pardon the admonishment, but if any of these behaviors tend to hit home, they will soon begin (if they haven't already), to have a negative impact on your customer’s decision making; your performance; and ultimately your company’s bottom line!
It doesn’t take a Rocket Scientist (does it?), to figure out which side your bread is buttered on.
I encourage you to take an honest, reflective look at the responses given by the Survey participants--if you recognize yourself as committing any of these costly blunders, then now is the time to change the way you represent yourself and your company.
Your prospect should always be left with an indelible impression of your professionalism, integrity and willingness to understand/meet their needs. That way everyone walks away with something to feel good about!
*(Source: Harvard Business Review—authors Tom Atkinson & Ron Koprowski
Friday, April 1, 2011
Friday, March 11, 2011
Words To Succeed By…
“It is not your customer's job to remember you.
It is your obligation and responsibility to make sure
they don't have the chance to forget you.”
-Patricia Fripp
Dear Sales Huddle Readers:
At long last, I am back from a few months of much needed time off.
The beauty of down time, is that it affords me to play 'catch up' on reading and uncovering so much important industry material that impacts our overall sales and business success.
My objective is to stay focused on sharing "best practices" research and methodologies, that will help you elevate skills; work productivity; bottom line performance and build superior customer relationships.
Speaking of superior customer relationships, if you were to ask the average consumer to name a popular brand of electronics, it would be no surprise to hear the name “Panasonic”.
Having said that…the inspiration for this month’s blog is taken from the words of Konosuke Matsushita, the founder of Panasonic.
I firmly believe that Mr. Matsushita's business creed on customer value pertains to every aspect of sales and selling—regardless of whether we sell products or services. His words carry a profound and brilliant ray of wisdom.
10 Lessons from Konosuke Matsushita:
CREATING CUSTOMER VALUE*
1. The mission of the company is to enrich society
2. Company’s vision must be driven by the aspirations of the customers
3. In the long run, the public opinion is right
4. Don’t sell customers goods that they are attracted to, sell them goods that will benefit them.
5. Treat your products like your children
6. Any waste will increase the price of the product
7. Stick to fair prices
8. After-sales service is more important than assistance before sales;
it is through such service that one gets permanent customers
9. Use complaints to strengthen ties with your customer
10. To be out-of-stock is due to carelessness; if this happens, apologize to your customers, and deliver the goods as soon as you can
In conclusion...no matter how well we perform or approach our business, it all comes down to the customer.
May we heed Mr. Matsushita's sage advice and actively apply it throughout all of our customer interactions and practices!
*(Source: 1000ventures.com)
It is your obligation and responsibility to make sure
they don't have the chance to forget you.”
-Patricia Fripp
Dear Sales Huddle Readers:
At long last, I am back from a few months of much needed time off.
The beauty of down time, is that it affords me to play 'catch up' on reading and uncovering so much important industry material that impacts our overall sales and business success.
My objective is to stay focused on sharing "best practices" research and methodologies, that will help you elevate skills; work productivity; bottom line performance and build superior customer relationships.
Speaking of superior customer relationships, if you were to ask the average consumer to name a popular brand of electronics, it would be no surprise to hear the name “Panasonic”.
Having said that…the inspiration for this month’s blog is taken from the words of Konosuke Matsushita, the founder of Panasonic.
I firmly believe that Mr. Matsushita's business creed on customer value pertains to every aspect of sales and selling—regardless of whether we sell products or services. His words carry a profound and brilliant ray of wisdom.
10 Lessons from Konosuke Matsushita:
CREATING CUSTOMER VALUE*
1. The mission of the company is to enrich society
2. Company’s vision must be driven by the aspirations of the customers
3. In the long run, the public opinion is right
4. Don’t sell customers goods that they are attracted to, sell them goods that will benefit them.
5. Treat your products like your children
6. Any waste will increase the price of the product
7. Stick to fair prices
8. After-sales service is more important than assistance before sales;
it is through such service that one gets permanent customers
9. Use complaints to strengthen ties with your customer
10. To be out-of-stock is due to carelessness; if this happens, apologize to your customers, and deliver the goods as soon as you can
In conclusion...no matter how well we perform or approach our business, it all comes down to the customer.
May we heed Mr. Matsushita's sage advice and actively apply it throughout all of our customer interactions and practices!
*(Source: 1000ventures.com)
Tuesday, November 23, 2010
2010 Customer Retrospective...
"We see our customers as invited guests to a party, and we are the hosts. It's our job every day to make every important aspect of the customer experience a little bit better" - Jeff Bezos
As the Holidays quickly approach and another calendar year has managed to sprint by—it's critical to assess customer/client relationships and the way we have managed them over the past year.
With regard to customer drop off and attrition...most will point to the economy—which may have contributed to some extent, but should not and cannot be blamed for all manner of customer fall out.
If you have made it a 'priority' to keep customers 'front and center', it's a safe bet that customer commitment, loyalty and growth is surging not faltering!
However, if you have not taken time to consistenly cultivate/enhance customer outreach and interaction, then please consider the following data, provided by the United States Small Business Administration & U.S. Chamber of Commerce:
• 70% of buying experiences are based on how the customer feels they are being treated.
• Studies show that 68% of customers leave because they feel they are being treated indifferently, and not because of a “bad” experience, poor quality products or better pricing somewhere else.
• 14% are dissatisfied with the product or service
• 9% begin doing business with the competition
• Customer loyalty and the lifetime value of a customer can be worth up to 10 times as much as the price of a single purchase.
• A dissatisfied customer will tell up to 10 people about his/her experience.
• 13% of those unhappy customers will tell up to 20 people!
The smartest, most fundamentally effective sales strategy is the one where the customer consistently gets top billing…the numbers quite vividly speak for themselves.
Happy Holidays!
As the Holidays quickly approach and another calendar year has managed to sprint by—it's critical to assess customer/client relationships and the way we have managed them over the past year.
With regard to customer drop off and attrition...most will point to the economy—which may have contributed to some extent, but should not and cannot be blamed for all manner of customer fall out.
If you have made it a 'priority' to keep customers 'front and center', it's a safe bet that customer commitment, loyalty and growth is surging not faltering!
However, if you have not taken time to consistenly cultivate/enhance customer outreach and interaction, then please consider the following data, provided by the United States Small Business Administration & U.S. Chamber of Commerce:
• 70% of buying experiences are based on how the customer feels they are being treated.
• Studies show that 68% of customers leave because they feel they are being treated indifferently, and not because of a “bad” experience, poor quality products or better pricing somewhere else.
• 14% are dissatisfied with the product or service
• 9% begin doing business with the competition
• Customer loyalty and the lifetime value of a customer can be worth up to 10 times as much as the price of a single purchase.
• A dissatisfied customer will tell up to 10 people about his/her experience.
• 13% of those unhappy customers will tell up to 20 people!
The smartest, most fundamentally effective sales strategy is the one where the customer consistently gets top billing…the numbers quite vividly speak for themselves.
Happy Holidays!
Friday, April 2, 2010
"Lead" Story
"Step up the stairs or stare at the steps" - Ralph Nichols
Leads are indisputably, the Holy Grail of all sales endeavors.
They are generated, qualified, pursued, distributed, tracked, nurtured, managed and converted...yet the way leads are approached in most day to day sales activities are often random rather than calculated.
What if I told you that there is well documented research, based on hundreds of hours of analyzing over a million cold calls, that successful lead conversion is largely driven by your response time?
Makes sense doesn't it?
Recently, I came across an article from an excerpted interview conducted by Geoffrey James of BNET.* Geoffrey had an opportunity to speak with one of the world’s most recognized authorities on cold call measurement, Dr. James Oldroyd, now with the Korean Business School SKK GSB.
Dr. Oldroyd’s research has revealed unequivocally, that there are indeed specific “days and times that are most effective for qualifying a lead and converting it into a real prospect.”
Response time (as we know) is critical and of course, the more time that is allowed to lapse, the more likely prospect interest dissipates. For example—Dr. Oldroyd points out that “you are 21 times more likely to qualify a lead if you call within 5 minutes than if you wait for 30 minutes.”
Response time also differs, according to Dr. Oldroyd with B2C leads vs. B2B; and between industries and product categories.
This highly regarded research casts an important light on how sales Reps (and Managers) can best invest their time and professional effort to work leads more advantageously, efficiently and for maximum pay off.
You can check out the details of the full study at: http://www.leadresponsemanagement.org/research
*(Source: Geoffrey James-BNET)
Leads are indisputably, the Holy Grail of all sales endeavors.
They are generated, qualified, pursued, distributed, tracked, nurtured, managed and converted...yet the way leads are approached in most day to day sales activities are often random rather than calculated.
What if I told you that there is well documented research, based on hundreds of hours of analyzing over a million cold calls, that successful lead conversion is largely driven by your response time?
Makes sense doesn't it?
Recently, I came across an article from an excerpted interview conducted by Geoffrey James of BNET.* Geoffrey had an opportunity to speak with one of the world’s most recognized authorities on cold call measurement, Dr. James Oldroyd, now with the Korean Business School SKK GSB.
Dr. Oldroyd’s research has revealed unequivocally, that there are indeed specific “days and times that are most effective for qualifying a lead and converting it into a real prospect.”
Response time (as we know) is critical and of course, the more time that is allowed to lapse, the more likely prospect interest dissipates. For example—Dr. Oldroyd points out that “you are 21 times more likely to qualify a lead if you call within 5 minutes than if you wait for 30 minutes.”
Response time also differs, according to Dr. Oldroyd with B2C leads vs. B2B; and between industries and product categories.
This highly regarded research casts an important light on how sales Reps (and Managers) can best invest their time and professional effort to work leads more advantageously, efficiently and for maximum pay off.
You can check out the details of the full study at: http://www.leadresponsemanagement.org/research
*(Source: Geoffrey James-BNET)
Friday, March 12, 2010
How Do Your Customers Rate?
"Think of yourself as a resource to your customers; an advisor, counselor, mentor and friend" -Brian Tracy
What exactly would you say is your responsibility to the customer?
In addition to pursuing the sale and planting the seeds of product/service benefits, solutions and value; as sales professionals, we have a responsibility, if not a duty, to vigilantly examine how we rate and manange our customer/client relationships.
How do you go about shaping the customer’s thinking around why it's in their best interest to continue working and doing business with you?
How do you go about perpetuating that message?
As a standard course of action, do you schedule post sale and/or regular customer check-ins?
Do you follow up as promised...and if so, are you respectful of the customer's time and schedule?
How often do you check up on your customer’s product/service experience...and in what ways are your customers deriving value?
These are questions you may wish to further reflect on...which brings me to the final $64,000 question:
How do you suppose your customers would rate you in the above mentioned areas...average?...above average?...
exceptional?...or not at all?
How we apply our attention and effort to the needs/expectations of the customer will either amplify or minimize loyalty and relationship longevity.
Doesn’t it make sense to hone in on these areas so that we are more results-oriented in our jobs...more responsible and memorable to our customers?
It goes without saying, customers/prospects have a myriad of purchasing choices available to them...so, whenever they elect to spend their time and dollars with us, we must continually and proactively feed the fires of their trust by keeping a focused line of communications in tow.
It's the steady, diligent 'touches' that give customers the confidence and satisfaction of knowing they are being taken care of...and that we care.
I'd rate that a 'win win' all around!
What exactly would you say is your responsibility to the customer?
In addition to pursuing the sale and planting the seeds of product/service benefits, solutions and value; as sales professionals, we have a responsibility, if not a duty, to vigilantly examine how we rate and manange our customer/client relationships.
How do you go about shaping the customer’s thinking around why it's in their best interest to continue working and doing business with you?
How do you go about perpetuating that message?
As a standard course of action, do you schedule post sale and/or regular customer check-ins?
Do you follow up as promised...and if so, are you respectful of the customer's time and schedule?
How often do you check up on your customer’s product/service experience...and in what ways are your customers deriving value?
These are questions you may wish to further reflect on...which brings me to the final $64,000 question:
How do you suppose your customers would rate you in the above mentioned areas...average?...above average?...
exceptional?...or not at all?
How we apply our attention and effort to the needs/expectations of the customer will either amplify or minimize loyalty and relationship longevity.
Doesn’t it make sense to hone in on these areas so that we are more results-oriented in our jobs...more responsible and memorable to our customers?
It goes without saying, customers/prospects have a myriad of purchasing choices available to them...so, whenever they elect to spend their time and dollars with us, we must continually and proactively feed the fires of their trust by keeping a focused line of communications in tow.
It's the steady, diligent 'touches' that give customers the confidence and satisfaction of knowing they are being taken care of...and that we care.
I'd rate that a 'win win' all around!
Tuesday, March 2, 2010
Going The 'Extra' Yard...
"Obstacles are necessary for success because in selling, as in all careers of importance, victory comes only after many struggles and countless defeats." -Og Mandino
As sales/phone sales professionals, it’s not uncommon to sometimes lose focus, motivation and even confidence in one’s ability to go that 'extra' yard.
There is usually a host of reasons/circumstances that can be attributed--performance slumps; lost deals; missed quotas and what can sometimes seem like an endless number of not interested prospects.
Sales is a profession that requires not only unwavering perseverance, but discipline and a positive, "hang in there" attitude to effectively navigate the rough spots,in order to keep landing on your feet!
So, as a reminder…whenever you are experiencing a nasty slump or questioning your abilities because everything seems to be working against you…pause and take a moment to watch this short video clip--please copy and paste into your web browser:
http://www.youtube.com/watch?v=lSM1mvMypWU
It's important to empasize, that in spite of shifting sales winds…in spite of unanticipated hurdles…in spite of relentless competition…you can still get the job done!
You can fire up your enthusiasm; re-charge your confidence and close deals!
Also, during challenging periods, use this time to discuss set-backs and concerns with your Manager--get the support and guidance necessary to rebuild and/or rework your game plan.
Like the main character in the video--when doubts start to show up (as they will), don't give in...don't make excuses...find the conviction to stay the course!
Please share this post with a team member.
As sales/phone sales professionals, it’s not uncommon to sometimes lose focus, motivation and even confidence in one’s ability to go that 'extra' yard.
There is usually a host of reasons/circumstances that can be attributed--performance slumps; lost deals; missed quotas and what can sometimes seem like an endless number of not interested prospects.
Sales is a profession that requires not only unwavering perseverance, but discipline and a positive, "hang in there" attitude to effectively navigate the rough spots,in order to keep landing on your feet!
So, as a reminder…whenever you are experiencing a nasty slump or questioning your abilities because everything seems to be working against you…pause and take a moment to watch this short video clip--please copy and paste into your web browser:
http://www.youtube.com/watch?v=lSM1mvMypWU
It's important to empasize, that in spite of shifting sales winds…in spite of unanticipated hurdles…in spite of relentless competition…you can still get the job done!
You can fire up your enthusiasm; re-charge your confidence and close deals!
Also, during challenging periods, use this time to discuss set-backs and concerns with your Manager--get the support and guidance necessary to rebuild and/or rework your game plan.
Like the main character in the video--when doubts start to show up (as they will), don't give in...don't make excuses...find the conviction to stay the course!
Please share this post with a team member.
Monday, February 15, 2010
Heads Up...Steer Clear of These Selling Pitfalls!
"We are what we repeatedly do. Excellence, therefore is not an act but a habit."
-Aristotle, philospher
Whenever I come across an article that will help you stay on top of your sales game, I feel a special duty to pass it along!
The list of "9 Avoidable Selling Mistakes" (below) were composed by Geoffrey James, who is a regular contributor to BNET (On-line Business Network).
Geoffrey shares my passion for helping sales Reps achieve greater effectiveness through the application of solid work practices and habits.
Most of what Geoffrey emphasizes has been previously addressed in several of my Blog postings—but it is always valuable to gain a fresh perspective from other industry voices.
Keep the following 'tips' handy as a professional reminder for staying clear of these all too common selling pitfalls...and don't forget to share them with your co-workers/team mates.
9 EASILY AVOIDABLE SELLING MISTAKES:
1. Failure to keep your pipeline primed—not having enough prospects at the beginning of the sales cycle.
2. Failure to research the prospect—cold calling “in the dark” without knowing much about the prospect.
3. Failure to qualify a lead—putting a lead into your pipeline without being certain the prospect has a need or the ability to buy.
4. Failure to discover the buying process—assuming your sales activities will drive the sales from inception to closing.
5. Giving a generic sales pitch—going through a list of canned features and benefits.
6. Trying to close too soon—asking for the sale before the prospect is convinced there is a real need or that your company offering is right for them.
7. Waiting too long to close—letting the sales process go on and on without asking for the business.
8. Failure to follow up –you make a commitment to a prospect, but don’t find the time to fulfill it; or you forget to check on a customer after you’ve made the sale.
9. Forgetting to get a referral—not getting “warm leads” from your existing customers.
Always work smart and with your sales radar in the "on" positioin.
-Aristotle, philospher
Whenever I come across an article that will help you stay on top of your sales game, I feel a special duty to pass it along!
The list of "9 Avoidable Selling Mistakes" (below) were composed by Geoffrey James, who is a regular contributor to BNET (On-line Business Network).
Geoffrey shares my passion for helping sales Reps achieve greater effectiveness through the application of solid work practices and habits.
Most of what Geoffrey emphasizes has been previously addressed in several of my Blog postings—but it is always valuable to gain a fresh perspective from other industry voices.
Keep the following 'tips' handy as a professional reminder for staying clear of these all too common selling pitfalls...and don't forget to share them with your co-workers/team mates.
9 EASILY AVOIDABLE SELLING MISTAKES:
1. Failure to keep your pipeline primed—not having enough prospects at the beginning of the sales cycle.
2. Failure to research the prospect—cold calling “in the dark” without knowing much about the prospect.
3. Failure to qualify a lead—putting a lead into your pipeline without being certain the prospect has a need or the ability to buy.
4. Failure to discover the buying process—assuming your sales activities will drive the sales from inception to closing.
5. Giving a generic sales pitch—going through a list of canned features and benefits.
6. Trying to close too soon—asking for the sale before the prospect is convinced there is a real need or that your company offering is right for them.
7. Waiting too long to close—letting the sales process go on and on without asking for the business.
8. Failure to follow up –you make a commitment to a prospect, but don’t find the time to fulfill it; or you forget to check on a customer after you’ve made the sale.
9. Forgetting to get a referral—not getting “warm leads” from your existing customers.
Always work smart and with your sales radar in the "on" positioin.
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