Archive for the ‘Sales’ Category

Solve the Mystery of Increasing Sales

Wednesday, October 21st, 2009

In today’s market, sales teams are getting hammered for more sales.

Companies are looking for ways to conserve cash and increase revenue, and sales departments are caught in the cross hairs. The fundamentals of sales that drive success remain the same and are even more critical when times are economically challenged.

There are some important keys to success in sales, and we have found that most of these key elements apply to any industry, product, or service.

Seek to Build a Relationship Not Just Make a Sale

Making “a” sale is important. But many may argue that is a shortsighted view. Building a positive relationship with a customer and really understanding their business and their specific as well as their ever changing needs will lead to the first of many sales. Look at your current customer base through the lens of customer loyalty. Are you and the rest of your company creating relationships with customers who want to work with and buy from your company alone? The concept of selling through the lens of customer loyalty may take a bit more time up front, but it eliminates a lot of extra work on the back end. Building loyal sales relationships is about you working smarter not harder, all the while exceeding your customers’ expectations and making them want more.

Provide Value Before the Sale as Well as After the Sale

Every interaction with a potential and existing customer should provide value and exceed their expectations. Many sales teams say they believe this but often their behaviors tell a different story. If we know providing value is important, how can a sales person or sales team create a measurable process to make sure that value is received with every interaction? Every sales team may need to look at the concept of a measurable process differently however some examples of knowing that value has been received may include: a thank you note or letter, a verbal thank you due to an unexpected follow-up call or visit, a referral, or a repeat order. Look closely at your process and start measuring these subtleties as they tell you a great deal about the customer’s perception of value within the sales relationship.

Questions Sell, Answers Do Not.

People don’t want to be sold, they want to buy. Therefore the sales process should be about identifying and understanding a clients needs, not about the features and benefits of your products of service. The best way to truly understand a customer’s needs is to ask questions that seek to engage the customer, to uncover his or her real needs, and to understand the benefits of making a buying decision to the organization. How will the organization measure the benefit? As a sales person you will know by the dialog whether you have a solution for their situation and at some point you may spend time explaining why your product or service will achieve the measurable outcomes they are seeking. But most decision makers often don’t care about “the how” (your features and benefits) until you uncover “what” they need and “why” (their need and their measurable outcomes).

Really Listen

The second most important component after asking questions is really listening. Asking questions is not effective unless you really listen to the answers. Being present and really listening for understanding still does not give you the right to get into features and benefits. If your sales dialog typically flows question, answer, explain feature and benefit, you are missing opportunities. Asking questions and really listening gives you permission to ask the next right question. The sales dialog should be about digging as deep as you can to understand the problem, the magnitude of the problem, and why it is important for the problem to get solved. It is only after this deep line of questioning and effective listening that you will get permission to talk about your solution because now in the decision maker’s mind it has direct value to his/her needs. Do yourself a favor and stop losing sale opportunities because you don’t really listen.

Be Proactive Faster and Stay Close

Speed is essential today, and sales are no different. Some folks say timing is everything but I believe having a proactive process in place to stay in close contact with your prospects and customers makes all difference in the world. If you or your department has a process in place, you don’t have to rely on the old adage of “timing is everything,” and being proactive links directly to developing loyal customers. Customers want to know that you are there and that they can count on you. Building that confidence starts in the first step of any sales process. Being there creates trust, and trust is a key component to establishing loyal customers and generating more sales.

Have a Great Attitude and Contagious Sense of Humor

This component is fairly straightforward. Have a great attitude all the time, as attitude is everything! But in addition to having a great attitude, have a sense of humor. I am not suggesting a comedic level of humor but the ability to laugh and make others laugh. Life and business is serious stuff, but that does not mean that we have to take every moment seriously. Life is to short not to enjoy it! “Laughter is a tranquilizer with no side effects.” Arnold Glasgow

Be Authentic

If you are not authentic, you will not be easily trusted, and it is pretty tough to build relationships and loyal customers without trust and authenticity. Be true to your personality, spirit, and character, and use them to your advantage. People want to do business with people who are real.

Often when times are good we forget about these fundamental components for success in sales because sales come easier and faster. “It doesn’t seem that we have to work as hard.” I believe when the business environment becomes more challenging we have a tendency to forget about the fundamentals, and we start combating the symptoms of current times. We wander away from what we know works. To solve the mystery of sales in a tougher economy, stop looking at the symptoms but rather identify the root cause and attack it; and most importantly, never give up on the core component of successful sales.

Tammy A.S. Kohl is President of Resource Associates Corporation. For over 30 years, RAC has specialized in business and management consulting, leadership development, executive coaching, and youth leadership. For more information visit www.resourceassociatescorp.com or contact RAC directly at 800.799.6227.

Posted in Attitudes, Customer Loyalty, Sales | 4 Comments »

Winning at Sales Through Centers of Influence

Wednesday, September 16th, 2009

One of the best ways to increase your sales efforts is to develop centers of influence.

Typically centers of influence are individuals who have influence in the community or in a specific industry and have agreed to help you make referral connections. An effective center of influence, should have influence in your defined or targeted market. Centers of influence could be a satisfied customer, a community or business leader, a former business associate, or someone who really understands what you do and believes in you! It is our experience that centers of influence refer the best potential clients. Why? Because there is already an established connection or relationship between the center of influence and the referred client. That existing relationship is based on trust and past success.

There are many ways to cultivate a center of influence. Here are three ideas we have found to be effective.

  1. Clearly communicate the details. Help your center of influence clearly understand what you and your company does and the value you can bring to a client. Also let the center of influence know specifically how they can assist you—who you want to meet and why. Remember, they are putting their reputation on the line so be clear and specific.
  2. Always show your appreciation. Saying thank you and showing appreciation goes a long way toward additional opportunities coming your way. A hand written thank you note, giving a small gift such as a topic specific book, or buying your center of influence a meal are but a few of the simple ways you can show your appreciation. Everyone likes their efforts recognized and appreciated.
  3. Always provide feedback. Your center of influence is not just interested in providing you with referrals. He/she will also be interested in the outcome of the referred connection for two reasons. First, the center of influence will be interested to know if the connection provided value for both parties—was it a positive and productive interactions. Second, a good center of influence will be interested in the outcome so they can measure whether they understand enough about what you and your company does to make sure they are making the right referrals. Everyone wants to provide value, and your center of influence is no different.

Building and managing your sales funnel, no matter what industry, in an ongoing process. Whatever other marketing techniques you are currently implementing, Look at developing relationships with the right center of influence. This one relationship can be a powerful and productive source of business!

Tags: , , , , ,
Posted in Sales | No Comments »

Why Do People Buy?

Wednesday, September 9th, 2009

Before a people consider buying anything, they must first have a want or need. Their desire can be at a conscious or subconscious level, but it needs to exist in order to motivate any buying decision.

People are motivated to buy in order to gain a benefit, to avoid a loss, or to solve a problem. People buy to gain money, save money, or avoid the loss of money. They will buy to prolong life or to improve the quality of life. The need for approval or the desire to be recognized are also strong motivators. Personal needs and wants fall into all kinds of categories with varying degrees of desire and urgency. We see buying decisions all around us every day.

You immediately replace your hot water heater because you need hot water. Even though a Saturn will accomplish similar results you always wanted that Mercedes E350. When you purchase a laptop you configure the new equipment based on the functionality of your needs and the functionality you want.

Understanding your buyer is one of the most important steps in successful sales. Why do your customers buy your product or service? What about your service or product does your customer need and want? Value is an issue in virtually every buying decision. Every potential customer will be considering the value or benefit relative to the price he/she will be paying. Remember, customers buy benefits and outcomes. Keep in mind that the most important key to answering this question is being able to get your potential customers to share their needs or wants. Only after those are identified can you begin to communicate and show value.

When mastered, the two skills that will help you uncover your customers’ needs or wants are listening and asking the next “right questions.” Listening is a skill most people believe they have mastered. However; if we are honest with ourselves, it is a skill that should be continually honed. Good listening skills mean that you are engaged with your customer, and they are your entire focus at that moment. Proper listening builds trust, and when trust is established your potential customers are much more likely to share their needs and wants in detail.

Asking the next “right” question is an art form. However, if you are listening properly and engaged you will know what the next “right” question should be for that customer in order to help him/her make a good buying decision with you. Listening and asking the next “right” question is like having a conversation with your best friend. The dialog is comfortable, your friend can sense on every level that you are interested, and you are present. And since you are present, you know exactly what to say or what to ask next. Make your potential customer your friend. Treat him/her like your best friend and watch your sales goals move to new heights.

Helping someone make the proper buying decision with you is not difficult. Focus on each customer’s individual needs and wants, link those needs and wants to the value of your product or service through listening and questioning. Before you know it, your sales will increase expontentially.

Tags: , , , , , , , ,
Posted in Sales | 1 Comment »

Becoming A Trusted Advisor

Tuesday, August 18th, 2009

If asked, do your potential clients and existing clients consider you a trusted advisor?

Do your clients seek you out for advice as it relates to other aspects or decisions for their business?

Do you make yourself available to potential clients and existing clients on a unlimited basis?

There are two very effective ways to generate business. One way is to develop and solidify new client relationships, and the other successful path is to generate more business from existing customers. Experience has proven it is far easier to generate additional business through an existing client than it is to continually manage marketing activities and an ever-growing sales funnel. Therefore, how can you ensure the ability to generate more business with existing clients and enrich both their business as well as yours? Establishing a relationship where you are a go-to resource can strengthen every existing client relationship.

As a result of this article, I am not suggesting that you position your services as the answer to every business need. That is not practical, focused, or effective. However, if you are positioning yourself as a go-to person for thoughts, brainstorming, previous experience, wisdom, or advice you are indeed mastering the role of a trusted advisor. “In a world that is increasingly connected, but also increasingly impersonal, the role of trusted relationships is more critical.” (David H. Maister) Your buyers are typically lonely decision makers searching for relationships that they can trust and find value in. By offering your time to understand every aspect of your client’s business and every challenge they face, you will be able to clearly understand where you can provide assistance.

Never forget that knowledge and information about a client is power. It may not power the sale today, but it will allow you the ability to suggest and provide the right solution at the right time. Trusted advisors also receive more referrals. A company decision maker is more apt to frequently refer someone who is a proven resource in multiple areas, consistently available, and follows through on the details.

A recommendation for your current business plan is to look at all of your existing client relationships and evaluate what you can do to provide more value not in the forms of services per se, but in the form of added value through brain power, ideas, and professional connections. By focusing on your clients entire business, by understanding their needs and concerns, you will see a very positive impact to your sales funnel!

Tammy A.S. Kohl is President of Resource Associates Corporation. For over 30 years, RAC has specialized in business and management consulting, leadership development, executive coaching and youth leadership. For more information visit www.resourceassociatescorp.com or contact RAC directly at 800.799.6227.

Tags: , , ,
Posted in Sales | No Comments »