Category: Sales

In an awesome interview with
Sydney Biddle Barrows,
the Mayflower Madam,
she talks about how experiences differentiate
your product from being simply a commodity.

“People will pay you more money
for a memorable experience,
something that they can remember
with pleasure and happiness
that they can talk about to other people.
Something that validates who they are,
who they think they are or
who they would like to be.
Something that gives them
the opportunity to try something
that they’ve never tried before.”

That’s why when I hear about
companies automating customer service
or downsizing sales staff,
I groan.
Employee contacts with the customer
is where these experiences often happen.

Bert Decker in
You’ve Got To Be Believed To Be Heard
points out that the ready position
is the ideal stance for public speaking.

Why?
“When you speak confidently
from a self-assured stance,
your energy is directed forward,
physically and psychologically,
toward your listener.”

What is the ready position?
“Lean slightly forward,
knees somewhat flexed,
so you can bounce lightly
on the balls of your feet.
You should feel like an athlete
ready to move quickly in any direction.”

I use the lean in
during interviews
and while sitting in an audience.
Try it next time.
Notice how the speaker zooms in on YOU.

I’m a suit girl.
Whenever I’m meeting with people,
I tend to wear a suit,
at least for the first time.

Why?

Because it is a sign of respect.
It visually tells the person
that I feel they’re important enough
to dress up for.

In Bert Decker’s book
You’ve Got To Be Believed To Be Heard,
Guy Kawasaki shares this advice

“My father was a politician in Hawaii.
He was a very good speaker.
When I started speaking,
he gave me a piece of advice:
Never dress beneath the level of the audience.

That is, if they’re wearing suits,
then you should wear a suit.
To underdress is to communicate the following message:
‘I’m smarter/richer/more powerful than you.
I can insult you and not take you serious,
and there’s nothing you can do about it.’

This is hardly the way to get
an audience to like you.”

At high end menswear retailer,
Harry Rosen,
salespeople are paid commission
not on sales
but on retention of customers.

Why?

The founder, Harry Rosen, himself
says it has to do with the male consumer.
“People always say
men hate shopping
but once they find
someone they can trust,
they’re one-stop shoppers.”

Salespeople keep files on their customers,
noting preferences, special occasions
and other key information.
All this builds trust.

Are you building trust with your customers?

A financial advisor pitched me yesterday.

I’ve had a few financial advisors.
I know that they are never more interested in you
than when they’re trying to gain your business.
They try their best.
They give you more attention.
They pull out all the stops.

So when I received the full color
proposed sample portfolio
from this advisor
and saw my name spelled wrong
(it is Chin, not Chim),
I walked away with
no second thoughts.

I knew he would only get sloppier
once he landed me as a client.

In this competitive environment,
your pitch has to be perfect.
Double check your sales material.

And get your client’s name right.

All products are price sensitive.
(If you don’t think your product is,
try increasing that price by a million dollars
and see if you lose customers)

So before increasing pricing,
we weigh the margin gained
against the sales lost.
If the net amount is positive,
then it makes financial sense,
at least in the short term,
to increase pricing.

However,
be very, very careful
when increasing pricing during a recession.
Not only are customers more price sensitive
(meaning more sales will be lost)
but the price increase is also more visible.
The media and the consumer advocates
are looking out for ‘selfish’ companies.

If you can,
wait for a recovery
to increase prices.

Most executives are demanding
but there aren’t many
who are impossible to please.

Why?

Because if you are impossible to please,
people stop trying to please you.
If you are always unhappy with results,
then it doesn’t matter what results you are given.

Dr. Robert F. Hurley and James Ryman
found that the number one reason
managers don’t reach the executive level
is because of perfectionist tendencies.
These managers are challenging to work for
and find it impossible to delegate.

Of course,
you should strive for perfection
but don’t expect it from others
and ensure that you reward less.

Montgomery Gentry has signed autographs
for friends
(they consider their followers friends, not fans)
until 4:30 in the morning.
They stayed until every last autograph was signed.
Over one hundred thousand.

Why?

Troy Gentry explains
“We’re going to take care of people
who take care of us.”

Do you work THAT hard
for your customers?

If you don’t, why not?

There are no selling cost savings
during a recession,
not if you want to stay in business.

Just the opposite,
these expenses go up.
Salespeople are working harder to land deals.
They see more prospects.
They wine and dine these prospects more
before sealing any deals.
They relationship build more
(more ballgame tickets and business lunches).
After the deal is done,
they touch base more often
to ensure they get the repeat business.

And they need more motivation to do so.
That means hosting results based competitions
and incentive drives
for your salespeople
while you’re laying off other staff.
It may be unpopular
but it is necessary.

According to Guerrilla Marketing
and the Forum research company,
15% of customers switched to another business
due to quality problems.
15% switched because of price.
70% left because they didn’t like the human side
of doing business
with their previous vendor.

People matter.

Before laying off or downsizing or automating,
remember that we do business
with people first and foremost.

Don’t give your customers a reason to leave.