"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!
Tuesday, November 23, 2010
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.
Sunday, January 31, 2010
A Closer Look At "Lost" Opportunties
"Failure is only the opportunity to begin again more intelligently"
-Henry Ford
Here’s a little exercise that I highly recommend:
Go back 60 days in your CRM database and glean through your ‘lost opportunities’.
From these opportunities, randomly select 10-15 prospects.
Next, examine your notes (you do log notes don’t you?) to uncover why the deal fell through.
Now that you have reviewed your list and notes, check the 'reasons' why you lost the sale.
Did you lose out because of:
1. Competition?
2. Pricing?
3. Timing?
4. The economy?
5. Lack of follow up/follow through?
6. Inability to reach the decision maker?
7. Prospect no longer interested?
8. No idea?
If any of the above eight reasons came into play (it helps to be brutally honest here), then it is well worth your while to revisit what you could have done differently since each one of these reasons suggest that you very well could have!
No one, of course, is expected to convert every opportunity into a win—however, you can certainly narrow the number of opportunities that tend to drop off your radar along with the reasons typically associated with them.
Paying attention to the ‘whys’ of previous lost deals will help to increase your awareness/sensitivity around selling with greater
focus--being able to lead with value, handle objections persuasively and elevate customer dialog.
Staying true to the technique of identifying need, budget, time frame and authority, will invariably create clarity and intelligent effort around understanding every layer of your prospect and his/her business...while improving your sales effectiveness.
In doing so, you will notice your ‘win' column gaining momentum while your loss opps not so much!
-Henry Ford
Here’s a little exercise that I highly recommend:
Go back 60 days in your CRM database and glean through your ‘lost opportunities’.
From these opportunities, randomly select 10-15 prospects.
Next, examine your notes (you do log notes don’t you?) to uncover why the deal fell through.
Now that you have reviewed your list and notes, check the 'reasons' why you lost the sale.
Did you lose out because of:
1. Competition?
2. Pricing?
3. Timing?
4. The economy?
5. Lack of follow up/follow through?
6. Inability to reach the decision maker?
7. Prospect no longer interested?
8. No idea?
If any of the above eight reasons came into play (it helps to be brutally honest here), then it is well worth your while to revisit what you could have done differently since each one of these reasons suggest that you very well could have!
No one, of course, is expected to convert every opportunity into a win—however, you can certainly narrow the number of opportunities that tend to drop off your radar along with the reasons typically associated with them.
Paying attention to the ‘whys’ of previous lost deals will help to increase your awareness/sensitivity around selling with greater
focus--being able to lead with value, handle objections persuasively and elevate customer dialog.
Staying true to the technique of identifying need, budget, time frame and authority, will invariably create clarity and intelligent effort around understanding every layer of your prospect and his/her business...while improving your sales effectiveness.
In doing so, you will notice your ‘win' column gaining momentum while your loss opps not so much!
Tuesday, January 5, 2010
The Trail of The Voice Mail
"If you care at all, you'll get some results. If you care enough, you'll get incredible results" -Jim Rohn
We have all been on the other end of a poorly executed voicemail message.
Perhaps, we have even been guilty of leaving one of those awkward verbal bloopers in an attempt to interest a prospect in what you had to offer.
In the business of selling, answering machines are standard fare—as telemarketers and inside sales reps, you typically leave a lot of voice messages throughout the course of your work day. However, as you know from first hand experience, only a small fraction of those calls are returned.
Question: What do you think compels a prospect to return some calls and ignore others?
Answer: Two things— (1) Content and (2) Curiosity.
Busy managers/directors/owners do not have the time or desire to listen to a rambling, “I want to sell you something" voice message!
They will only listen if you make it worth their while…and you have a very narrow window of opportunity in which to do so.
That’s why what you say and how you say it will be the all important catalyst for piquing their interest and getting your call returned!
If you want to reap solid results from the voice mail messages you leave, then take heed:
▪ Prepare what you want to say (rehearse it, if necessary) before you pick up the phone.
▪ Use this time critical window (25-40 seconds) to position WIFM’s—not to make your sales pitch! (Ex: they will be able to cut costs; reduce customer attrition; improve staff productivity; double ROI and so on). Think value proposition!
▪ Your message should always be concise and confident…remember less is more in the world of voice mail messages.
▪ Don’t rush through your message—be sure to pause and speak clearly. The objective is to give the prospect a compelling reason (i.e. WIFM) to call you back!
▪ Speak your phone number s-l-o-w-l-y! Don’t make the common mistake of racing through the number—do not put the prospect in the position of having to rewind the message several times in order to decipher your call back number!
Sample script:
“Hi Steve, this is Jill Richards with ABC Management Systems—I ‘m calling on industry professionals regarding a business tool that will help you dramatically increase staff productivity. It only takes 5 minutes to demo, and I am confident this is something you will want to check out. You can reach me at 800-5-5-5-5-8-5-5. Thanks Steve…I look forward to your call.”
▪ Steer clear of multi-tasking (i.e. eating, drinking, and similar no no’s ) when leaving your message. You would be amazed at the number of sales people who leave messages while eating!
▪ Stay mindful of the end result you want to achieve.
▪ Log and track all of your outbound activity via CRM entry—this way you stay on top of your business and maintain ready access to prospect/customer info when your calls are returned.
The goal: To eliminate scattered, unfocused voice mail messages which are always wasteful and counter productive; and replace them with polished, attention grabbing ones!
The above pointers when implemented with fore thought and consistency, will elevate the quality of your message, stimulate interest and motivate prospects to learn more about your special product or service.
Leave your message at the beep!
We have all been on the other end of a poorly executed voicemail message.
Perhaps, we have even been guilty of leaving one of those awkward verbal bloopers in an attempt to interest a prospect in what you had to offer.
In the business of selling, answering machines are standard fare—as telemarketers and inside sales reps, you typically leave a lot of voice messages throughout the course of your work day. However, as you know from first hand experience, only a small fraction of those calls are returned.
Question: What do you think compels a prospect to return some calls and ignore others?
Answer: Two things— (1) Content and (2) Curiosity.
Busy managers/directors/owners do not have the time or desire to listen to a rambling, “I want to sell you something" voice message!
They will only listen if you make it worth their while…and you have a very narrow window of opportunity in which to do so.
That’s why what you say and how you say it will be the all important catalyst for piquing their interest and getting your call returned!
If you want to reap solid results from the voice mail messages you leave, then take heed:
▪ Prepare what you want to say (rehearse it, if necessary) before you pick up the phone.
▪ Use this time critical window (25-40 seconds) to position WIFM’s—not to make your sales pitch! (Ex: they will be able to cut costs; reduce customer attrition; improve staff productivity; double ROI and so on). Think value proposition!
▪ Your message should always be concise and confident…remember less is more in the world of voice mail messages.
▪ Don’t rush through your message—be sure to pause and speak clearly. The objective is to give the prospect a compelling reason (i.e. WIFM) to call you back!
▪ Speak your phone number s-l-o-w-l-y! Don’t make the common mistake of racing through the number—do not put the prospect in the position of having to rewind the message several times in order to decipher your call back number!
Sample script:
“Hi Steve, this is Jill Richards with ABC Management Systems—I ‘m calling on industry professionals regarding a business tool that will help you dramatically increase staff productivity. It only takes 5 minutes to demo, and I am confident this is something you will want to check out. You can reach me at 800-5-5-5-5-8-5-5. Thanks Steve…I look forward to your call.”
▪ Steer clear of multi-tasking (i.e. eating, drinking, and similar no no’s ) when leaving your message. You would be amazed at the number of sales people who leave messages while eating!
▪ Stay mindful of the end result you want to achieve.
▪ Log and track all of your outbound activity via CRM entry—this way you stay on top of your business and maintain ready access to prospect/customer info when your calls are returned.
The goal: To eliminate scattered, unfocused voice mail messages which are always wasteful and counter productive; and replace them with polished, attention grabbing ones!
The above pointers when implemented with fore thought and consistency, will elevate the quality of your message, stimulate interest and motivate prospects to learn more about your special product or service.
Leave your message at the beep!
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