Sales is an incredibly important part of nearly every business.
It often starts with the sole proprietor, some shoe leather and a firm belief in a product or service and the difference it can make for clients.
As a business grows, a sales force is often hired to find, court and manage clients of the business.
Do you manage this sales force from the 'hill over looking the battlefield' - sending messages out to redirect the front line with the benefit of your birds eye view?
Or, are you leading from the front of the offensive line, sword in hand?
It's your company, your blood, sweat and tears - your livelihood.
Employing a sales team isn't a case of 'owning a dog and not barking yourself'. You should be at the front of the pack, your bark the clearest, your bark the loudest.
Are you part of your sales team? Are you barking loudly?
This blog is an endeavour to deconstruct Sales - where it is often overcomplicated, it needn't be.
Tuesday, 9 July 2013
Monday, 8 July 2013
You Say Price, I Say Value
There is one thing the Financial Crisis has created - a 'sale' mentality.
Walk in to any mall or down any retail area - what do you see? Sale sign after sale sign - trying to entice clients in to a shop on price and the promise of a heavily discounted opportunity.
What do we often always then assume when a client debates our price? We must lower it.
Really? By discussing price, all a client is really telling you is 'I don't see enough value in what I'm buying to warrant the price you're asking of me'.
Price is most certainly important - but value is more important. The price someone is prepared to pay is set at how much value the client places on what the product will do for them.
Go in to every relationship focused on improving the clients situation and price becomes less of an issue. To add value, you need to know your client, where they're going and their freedoms and constraints.
Lead with your value - not with your price. Show your clients where your value sits - don't hope they see it - show them. Demonstrate it.
Walk in to any mall or down any retail area - what do you see? Sale sign after sale sign - trying to entice clients in to a shop on price and the promise of a heavily discounted opportunity.
What do we often always then assume when a client debates our price? We must lower it.
Really? By discussing price, all a client is really telling you is 'I don't see enough value in what I'm buying to warrant the price you're asking of me'.
Price is most certainly important - but value is more important. The price someone is prepared to pay is set at how much value the client places on what the product will do for them.
Go in to every relationship focused on improving the clients situation and price becomes less of an issue. To add value, you need to know your client, where they're going and their freedoms and constraints.
Lead with your value - not with your price. Show your clients where your value sits - don't hope they see it - show them. Demonstrate it.
Friday, 5 July 2013
Sell Today, Deliver Tomorrow
Some products and service sales are instantaneous - the exchange of the product or service happens at the point the client agrees to partake of it. FMCG is a prime example - you want groceries, you can pay for them and walk out the door with them.
Other times, whilst this exchange can happen instantaneously, the value or benefit the client receives occurs after the exchange. Sometimes days, weeks, months or longer still. This is a harder sell as you are having to convince a client to commit to something today (often with a financial consideration now ) on YOUR commitment what YOU promised them will happen tomorrow. You are selling deferred value.
How do you deal with this?
Promise Properly
Other times, whilst this exchange can happen instantaneously, the value or benefit the client receives occurs after the exchange. Sometimes days, weeks, months or longer still. This is a harder sell as you are having to convince a client to commit to something today (often with a financial consideration now ) on YOUR commitment what YOU promised them will happen tomorrow. You are selling deferred value.
How do you deal with this?
Promise Properly
- This isn't a case of 'under promise/over deliver' or vice versa. These strategies don't always work. If you 'under promise' - unless you know your client well, you risk losing the opportunity today on the hope you will show them more value than they committed to tomorrow. You need to ensure you commit upfront to what you will do for them tomorrow.
- Scope well - you can't promise properly if you don't have the foundation of knowledge on which to build the promises.
- Commit to real things you can deliver - not concepts, not hypotheticals. Real Things! Commit to things in your sphere of influence - unless you can direct others, don't make promises that other people have to deliver. Promise what YOU can do, not what you hope you can do.
- This is often a two way street - sometimes, both parties will need to do something along the journey to realise the value. Articulate this to your clients.
- Prime example are weight loss gadgets. They gloss over the fact that, in order to lose that X pounds over 12 weeks - your diet is equally, if not more, important than the machine itself. They fail to set the client expectation of what is required from THEM to enjoy the benefits.
- Too often clients receive more attention before they are clients than they do once they become one. Sales people quickly move on to the new target and, unfortunately, forget about the ones they've onboarded.
- Your clients expect the same level of service, love and attention every day of their relationship with you! You set a service expectation - it's your rod hitting your back!
- We see this regularly - discounts/incentives/concessions for new clients, little for those who are already clients. Your clients aren't stupid - they see this, don't kid yourself in to believing that they don't, or they don't care. Don't love that which you don't yet have at the expense of that which you've already got and committed to.
- Make sure you are talking with your client regularly. Things change - they change, you change. Talk to them regularly, revisit the promises/commitments made, adjust as required to fit their 'new' circumstances.
- Delivering the promises today is based on the assumptions of tomorrow - you need to ensure these assumptions are still valid regularly.
- Sometimes a promise becomes impossible to deliver due to changes - tell you client, don't just hope they forget about it. Look for new promises/commitments as well.
Wednesday, 3 July 2013
Wants, Needs & Desires
You have to WANT to help your clients
You NEED to understand their current and preferred position
The DESIRE is to improve their position and add value
Who You Are Is What You Sell
This doesn't mean the brand you sell or represent - it means YOUR brand.
Have you stopped to consider your brand and your values? Your clients buy from you because they trust you - they subscribe to your brand and your values - what you stand for. Similarly, does the 'brand' your colleagues see match that your clients experience?
Invest in yourself - think about your personal brand and brand values. For example:
Have you stopped to consider your brand and your values? Your clients buy from you because they trust you - they subscribe to your brand and your values - what you stand for. Similarly, does the 'brand' your colleagues see match that your clients experience?
Invest in yourself - think about your personal brand and brand values. For example:
- Works well with others! Do you acheive at the enhancement of others rather than their expense? Do you take people along for the 'sales journey' or get to the finish line not worried about collateral damage? Do others successes spur you on rather than promote jealousy.
- Accountability! Does your manager need to continually refocus you - or, once armed, do you self guide to achieve your goals?
- Outcome Focused! Do you act with confidence rather than arrogance? strength rather than agression? Are you assertive rather than pushy? Are your decisions and strategies always focused on the optimal client outcome - or yours?
- One Trick Pony! As per a previous post, are you delivering the promises made to your clients? Like any good relationship - the work starts when they say yes, it doesn't end.
- Pound of Flesh! Are you tenacious? Do you procrastinate or act towards your objectives. There's 8 hours in the day - use them
- Substance! Do you actually believe and act on your words? It is easy to say something but fundamentally more important to mean it and follow through on it.
- The Extra Mile! You don't stand out by doing what everyone else does. Different isn't better neccessarily - but it can be if it isn't what the client expected but is what they value.
Tuesday, 2 July 2013
The Hard Part
Many in sales view obtaining the fist visit as the hard part of the sales process. It isn't...but what is?
Many prospects will see you once. Assuming you've done your research properly, approach the call appropriately and convey the correct message - most will hear you out. They're in business - they're always looking for improved value which may help them.
The first meeting is important, of course, but the hard part is what happens after this meeting.
Can you secure the second meeting?
Can you continue the relationship with the client?
Did you ask the right questions to uncover where, how and if you can add value to them?
Can you honour the promises made in the first meeting?
Did you show the clients you genuinely want to help them?
The first meeting is a dress rehearsal to your continued relationship with your client...it's what happens after it that is hard!
Many prospects will see you once. Assuming you've done your research properly, approach the call appropriately and convey the correct message - most will hear you out. They're in business - they're always looking for improved value which may help them.
The first meeting is important, of course, but the hard part is what happens after this meeting.
Can you secure the second meeting?
Can you continue the relationship with the client?
Did you ask the right questions to uncover where, how and if you can add value to them?
Can you honour the promises made in the first meeting?
Did you show the clients you genuinely want to help them?
The first meeting is a dress rehearsal to your continued relationship with your client...it's what happens after it that is hard!
Know Your Client
Sales is easy to be considered a 'transactional' interaction - a point in time transaction (or number of them). Real sales is a relationship - one of constant communication in both directions looking to solve challenges and identify & capitalise on opportunities.
Sometimes this solution comes from within your tool box (your products and services) - you get to sell something. This is, unfortunately, where most people focus their time. This means most sales conversations are centred around YOUR products and services. They are constantly angling for a opening/opportunity to sell their wares.
What if your client has a more pressing issue? Will you have their attention?
Clients and prospects, like you, are people. They have issues and opportunties at work - some of these rank higher than your products/services and what they do.
If you fail to connect with the person you are talking to - to understand them, what drives them, what is keeping them awake at night, what the dream is - how can you correctly determine where you can add value both today and, more importantly, in the future?
Sometimes this solution comes from within your tool box (your products and services) - you get to sell something. This is, unfortunately, where most people focus their time. This means most sales conversations are centred around YOUR products and services. They are constantly angling for a opening/opportunity to sell their wares.
What if your client has a more pressing issue? Will you have their attention?
Clients and prospects, like you, are people. They have issues and opportunties at work - some of these rank higher than your products/services and what they do.
If you fail to connect with the person you are talking to - to understand them, what drives them, what is keeping them awake at night, what the dream is - how can you correctly determine where you can add value both today and, more importantly, in the future?
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