Monday, April 26, 2010

Service Determines Lifetime Value

I have six kids (all drivers) and haven't had less than 4 cars for years (usually at least two clunkers among them). From the beginning I used the same outlet for tires and often other service. Safe to say, I am a good customer. Sometimes I wondered if I really needed the brake pads changed, after all I am not a particularly naive consumer, but I would write off that cynicism in favor of the congeniality of the center's manager as well as his demonstrated attention to getting my work done in a timely way, or squeezing me in on very short notice. I have been willing to trade some pricing for convenience (service).

One of my sons departs for a cross country adventure this week. He'll drive to New Mexico and so we brought his car in for a tire check-up. One thing led to another and new tires became brakes, brake pads, rotors and axles..$1,300.00. Well, no cost too dear for his safety. Lucky we brought the car in.

Upon leaving the shop my son was startled by a vibration, he correctly, it turned out, believed was the engine. Before a city block passed he returned the car and described the feeling to my friend the manager, who then put the car on the lift and while everyone waited spent the better part of an an hour investigating. He announced "it's coincidental, and I really am not sure why it is happening but nothing we did could have caused it." I don't know a crank shaft from a chocolate eclair but I pointed out that logic dictated "no vibration when we bring it in, vibration when we pick it up," it happened in the tinkering.

The manager says "can't be, stranger things have happened, and besides which if I go to a dentist for a problem in one tooth which he works on and while doing so another flares up in the other side of the mouth, does that mean he's to blame?" I finally posit to my friend the manager, that we can philosophise about this until the cows come home or he can take full responsibility for fixing the problem, no matter what he finds it to be. He decided he'd pay half the cost of repair and that my half would be about another $400.00. O.K.

Now let's say over the years, before this visit, I'd spent $5000.00 at his place; now an additional $1,300.00 for the required service this time. For another $400.00 you know he's lost my business forever. I'd say this was a very short-sighted decision and really bad service.

Great Selling!

Love Your Work and Work Tirelessly
Communicate Honestly and Fearlessly
SERVE, DON'T SELL
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Teamwork

Wednesday, April 21, 2010

A Noble Vocation

There are few gaps as wide as reality and the general perception of salesmen. Unfortunately too many sales executives, well intentioned as they might be, contribute to the stereotype of the profession; "Oily sellers of ice to the Eskimos." The well intentioned, but poorly trained representative focuses his/her attention on closing, closing and closing, too often without regard to the real value of his product or services to the person he is cajoling to "sign here."

Consistently great sellers are intimately aware of, and passionate believers in, the unique attributes of their product to a well targeted prospect. They spend all their vocational energy looking for the right people to help, are tenacious about making contact with them and skilled well enough to overcome the inherent distrust of customers to any sales person. In so doing they gain the trust and the open mind of the buyer. They come offering a genuine path to growth, pleasure and satisfaction, and the buyer "sees" it.

I have a friend, a serial entrepreneur, who has a debilitating disease which over the past fifteen years has robbed him of mobility and fine motor coordination. The experience has re-focused his interest in how he earns his living. He still is an entrepreneur and is still interested in the economic rewards of successful business endeavors, but in addition is only interested in creating businesses which help make life "more livable" for disabled people. Because he has always been a media professional, his attentions are now directed at making Internet experience just as efficient for the impaired as for the non-impaired population. Brad serves. He spends very little time focused on selling. He talks to companies about availing themselves of his services so that they can grow their businesses while feeling very good about themselves by providing much needed services to others.

Brad in my view spends his work life in every bit as noble a profession as any doctor, lawyer or fireman.

Read AOL Co-founder Ted Leonsis' book "The Business of Happiness" and learn how to give so much and get so much more in return.

Great Selling!

Love Your Work and Work Tirelessly
Communicate Honestly and Fearlessly
SERVE, DON'T SELL!
Collapse Time
Teamwork

Thursday, April 15, 2010

Did You Sell Out Your Bridal Fair?

In the last two decades there have been 23,612 radio and TV station-sponsored bridal fairs, 18,915 New Car Shows in shopping mall parking lots and 196,219 "Register to Win" contests at participating retail sponsors. 82,000 "free" vacations have been given to Q1 spenders and 91,000 free golf rounds to buyers of media. (If you don't believe me, you could look it up, as Yogi Berra used to say). Notwithstanding all of that ingenuity and generosity a few broadcast properties apparently still felt the negative effects of a troubled economy during the past several years.

The last time a "Media Marketing Consultant" (that would be a funny title if it wasn't so sad) proposed a thoughtful program to a retailer that took advantage of all the new touch points to consumers that have evolved and changed the way we all spend our time over the past dozen years was...probably, never.

It's hard to keep hearing from otherwise bright and committed people that sales are off because of the economy. Really? Do you mean that when the consumer contracts his spending, and fewer people visit stores and showrooms, and less cash hits the register, retailers get nervous and cut back on their spending? Oh my. Well how have we approached that problem? Ah, you lowered the price of a remote and added a Big Boy Toy Show. Super! So where are we versus the budget now?

Look, your customers don't have the solution, other than a sale to try and lure their consumers to spend. Sadly, neither do you on their behalf. Absent that solution and an advertising strategy, in the face of declining resources, not to spend dollars on advertising is a perfectly rational decision. On the other hand, absent effective advertising a protracted tough economy will occasion a "for rent" sign where there used to be a sporting goods store.

But what if your customer had a great product or service, and you and your production department really knew what they were doing in bringing that product creatively to market? And what if you understood all the new ways people, of every age group, are spending their leisure time with new technolgies? And what if you really understood that these transformative life style changes in time spent on cell phones, community sites (on the phone via apps or directly online) such as Facebook, Twitter and Linkedin, etc., are all new distribution channels that accommodate marketers and have a "spread the word" effect as well? What if you asked for a meeting to help bring the customer up to speed on consumer behavior? And what if you came back after your initial meeting with a well thought out program featuring your asset as the perfect quarterback to direct traffic to all these channels (as well as taking on branding and transacting functions itself?) Who in your market would be able to compete with you? And how long before you crush your budget?

Or, you could have your customer sponsor July in your new listener calendar.


Great Selling!

Love your Work and Work Tirelessly
Communicate Honestly and Fearlessly
Serve, Don't Sell
Collapse Time
Teamwork

Friday, April 9, 2010

Anxiety Trumps Logic

Anxiety is the Ace of Spades and is always the buyer’s hole card. Great Sellers turn over their hole cards as soon as dealt, showing a pair of Aces (hearts and diamonds—logic and sincerity--). Inevitably the buyer, seeing the pair, checks throughout the hand and then asks the seller to borrow his pen when the last card is dealt. Had this seller only the Ace of Hearts, he’d have an average hand just like the rest of us, and the game would be a draw:

“Let me think about it, I’ll get back to you.”

After hearing that we all have to play out the hand.

Because angst is so deeply rooted, having been nourished all along by average sellers who are afflicted with the “somewhats” (preparedness, honesty, sincerity, follow-up, work ethic, caring, etc.), don’t be too hard on yourself for his first response not being, “Oh my G-d, I am so happy you chose me to help. When can we start?”

The fact is that cynicism and fear of loss are very strong emotions and overpower logic every time. So we begin to play out the hand which means we engage in closing.

The buyer said when you concluded the pitch and asked for the order , “Well let me think about this,” or “I need to discuss this with my partner, pastor, parents or pet ,” or “I need to see if I can afford this, “or “I’m not sure if this is the right time to risk this,” or… Then, as mentioned, he promises a phone call with a decision soon.

That call is not coming. And the decision, if not already made is pre-ordained. So, do not cheerily respond, “That’s great Mr. Jones. I’m looking forward to your call. Have a great day.” Instead you begin:

“Mr. Jones, I understand your hesitancy. This is an important decision because the health and welfare of your business may depend upon it. I must tell you that my experience tells me that deferring this kind of action, inevitably kills it. Should that happen very little will change in my life, or yours… and that can mean an important lost opportunity for you.

I have a no-risk proposal for you. Let’s spend fifteen more minutes together now. Let’s partner in probing your every concern. You work hard to honestly articulate them and I promise to listen very closely and give you honest feedback. While I don’t think so, it may be that I’ve missed something very important and if so, I will acknowledge that because my only objective is to help you grow your business. At the end of those fifteen minutes, we’ll have traded anxiety for real issues. And that’s the best way to make a decision. Don't you agree?”

This approach will get you the fifteen minutes during which you work to elicit every objection, the answers to which are at your finger tips and after each answer, you extend the pen.

Great Selling!

Love Your Work and Work Tirelessly
Communicate Honestly and Fearlessly
Serve, Don't Sell
Collapse Time
Teamwork