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Casual Articles - Accelerated Revenue Growth - 22 Low to No Cost Strategies You Can Use Today
As a Business Owner Do You Know How to Be a Good Customer? the hunter is that they typically do not nurture accounts – they lose interest in the account as soon as the ‘deal is closed.As business owners have you ever considered how you act as a customer will reflect on your own business?Time and again I have run across business owners who are not the best customers. They are rude, not professional and just plain hard to deal with.For instance I just recently had a customer who purchased a downloadable e-book from one of my sites. I have all products set up to be instantly emailed to customers upon purchase or they are redirected to a webpage to download the product. Unbeknownst to me the website had gone down during the night while I was sleeping since the web hosting company I have my site through was doing updates and the servers were down for a couple hours. This was not something in my control and rarely happens but if you have a website you realize this type of thing happens from time to time.The customer purchased the e-book during the night while I was sleeping and they did not receive it as it should have been sent automatically. The next morning I woke up and went to work and saw an email from this customer. I opened it up and was shocked!Not only did they say they had been working online for 3 years trying to make a money online but they were tired of being scammed by people...then they went on to say that means you and more words were said which I will not elaborate on. The time that had passed from when they purchase the e-book to the time I got the email the next morning was only a few hours not days or weeks.My first instinct of course was to rectify the problem which is what I did I emailed the customer with their purchase and apologized for the inconvenience and explained that the site had been down. Normally I not only send the purchased product but either send more items or offer a discount on their next purchase, after verifying that they did purchase from my sites. This time I was so floored by the rude comments, the words used in the email I did not.After rectifying the situation I started wondering what business they owned.Why?What you do as a customer reflects on your own business!If I was treated like this only a few short hours after a mistake happened on my own site how would I be treated if I ordered from them? Would they offer good customer service? Would I Farmers nurture accounts. They typically don’t penetrate new accounts. They take those accounts first closed by the hunters and expand them. Closing opportunity by opportunity, until they have sold all that they could sell into that account. The weakness of the farmer is that the company that they work for must continue to evolve, adding new products and services, or the value of the farmer drops quickly, for that account, to the company they work for. The key is for you to understand the two sales styles, understand which role you do best in. Exploit your strengths and find a partner that has complimentary strengths so you can leverage each other. # 9 Increase Your Number of Cold Calls: If you implement only one idea out of this article THIS IS THE ONE! Don’t waste your time with anything else unless you cold call – a lot. Look at any report that measures correlation of the success of an individual sales person, or sales team, with the number of cold calls. The number just don’t lie. There is an absolute, and direct, correlation to the number of cold calls and the success of a sales person, or team. Cold calling is just a form of networking. Everyone in the company can support cold calling campaigns, whether you are in sales or not. Cold calling is as simple a How You Can Make Money From Competitors Easy At the forefront of driving revenue is the sales team; however everyone, from the receptionist to the CEO, is vital for accelerated revenue success. No matter what position you hold in your company you can use the many low-to-no cost strategies in this article to accelerate revenue.Are you market products and services using PPCs? PPC Advertising is one of the fastest and easiest ways to get visitors, capture email addresses and make sales. However, I am sure not every campaign you created are profitable. For some keywords, you may need to compete with competitors to bid for the clicks. When there are too many competitors making the cost of a click too high, you will not be able to profit anymore.Now what will you do? In general people will select one of the following two options: Try every method to increase conversion rates, or totally leave the bidding war. Make sense?And now I am going to introduce the third choice to you:Make Money from Your Competitors.So how can you do this? The simplest way is to provide advertising places to your competitors.There are many methods to sell advertising and here is what I like to do. Create content sites for the keywords, add Adsense blocks and competitor’s affiliate links on the pages and then submit the sites in search engines and market the sites as normal. Now your competitors will pay you money every month!This method may not make you large amount of money, but it is definitely profitable and will provide you another streams of income. Not bad, right?And you can apply this in different areas apart from PPC advertising. Just think out of the box and you will profit more.To your online marketing success, Mark TseP.S. Do you want to create content sites fast? Get the software that I am using to create a content site in less than 5 minutes: http://www.marktse.com/qpg/ # 1 Set Your Goals and Objectives: Members of the sales team usually have a quota assigned to them by management. If you are not part of the sales team you probably do not have a direct quota, however the more value you add to the revenue driving activities of your company, the more valuable you are to the company. If you are not part of sales, make a commitment, even if you don’t tell anyone about it, to do what ever you can to drive revenue up and to costs down. Make sure that you hold yourself accountable. I have found that one key de-motivator, including self de-motivation, is an imbalance of accountability – even if it is perceived and not real. This imbalance is caused when your actions are not inline with your goals and objectives. Manage yourself and your activity consistently and you will see the results in your top line. # 2 Know Where You Are Now: Before you start any journey you need a map, a plan in the case of your accelerated revenue driving activities. Before this journey begins it is important to know where you are going (discussed in the previous section) and where you are now. Here are some questions to ask yourself: - Where are you against your goals? - Where is your company against its goals? - Are your goals inline with your company’s? # 3 Know Your Value: Take an inventory of yourself. Understand what you do well, what you do OK, and what you don’t do well at all. Then leverage what you do well and improve on what you do OK and not well at all. Constantly, review your progress and keep adding new skills to your training regimen. # 4 Know Your Company’s Value: Look at your company. What does your company do very well? What is the value of that product/service? Value from your customer’s perspective – not yours. How does this product/service increase revenue or decrease cost for your customer? (Not how can you offer the product/service cheaper than your competition.) Or does it increase efficiency or reduce risk (subset of reduced cost). Again, for your customer, not you. Focus most of your energy on leveraging those things your company does extremely well. Especially, those products/services that add the most value to your customer. This is probably where you can increase revenue the most. # 5 Increase Key Lead Generation Activities: - Write newsletters for existing and potential customers; - Provide Free, or Low Initial Buy-in, offers to drive paid product/service business; - Write white papers; - Develop positioning papers; - Conduct short, value focused, seminars on how you help your clients increase revenue and decrease cost # 6 Automate all Sales Reporting: Use my simple and short three step process to develop your sales reporting system. Here it is: 1) Define Sales Reporting Needs: be focused on the deal and on the client’s timeline; 2) Establish Sales Reporting Needs: make reporting quick and easy for everyone; and 3) Execute and refine as you gain a better understanding of what information is really useful. I don’t recommend that your company spends $5M, or even $5/month, on a Customer Relationship Management (CRM) solution. They take too long to add value anyway - the point of this article is results in 30 days. Look at what you need to report and report it in the most efficient and effective way possible. Leverage information technology, if that makes sense, or just have a process flow for hard copy reports. Define reporting parameters beforehand and make sure that you report in regularly. # 7 Get Help / Offer Help: Show your management that, by having a sales admin you can increase revenue by X. Or reduce cost of sales by Y. Or …whatever metric you can use that shows increased efficiency, value, to the company that you couldn’t do on your own. This sales admin person/team could also support more than one sales person. Show value in real terms and you might get a favorable response. For example, if I was going to pitch this I might say “ Mr., or Mrs. Boss, it has been my experience that, in most cases, Sales admin staff keep more expensive, and productive, sales people (like me) in front of, or on the phone with, a customer, prospect, or suspect. In a layered sales force I feel that can contribute even more time to the sales cycle and won’t spend valuable time on areas of the sales process that I am not as efficient, or cost effective, in. The key here is not to hire more sales staff, it is to get more revenue dollars for every hour of my effort.” If you are not a sales person, then offer to help. Talk to the sales team and determine where you might offer assistance. Working together with sales will give sales a renewed appreciation of you and your department. It will also give you a renewed appreciation of sales. Together you and your partner(s) in sales can revitalize accelerated revenue efforts while being an example for the rest of the company to follow # 8 Leverage Your Hunter and Farmer Skills: There are two types of sales styles to focus on to accelerate revenue, Hunters and Farmers. These two types apply to inside and outside sales people. Hunters are those sales people that love the thrill of the kill. As soon as they ‘close’ the deal they are on to the next. And they are very good at it. The main weakness of the hunter is that they typically do not nurture accounts – they lose interest in the account as soon as the ‘deal is closed. Farmers nurture accounts. They typically don’t penetrate new accounts. They take those accounts first closed by the hunters and expand them. Closing opportunity by opportunity, until they have sold all that they could sell into that account. The weakness of the farmer is that the company that they work for must continue to evolve, adding new products and services, or the value of the farmer drops quickly, for that account, to the company they work for. The key is for you to understand the two sales styles, understand which role you do best in. Exploit your strengths and find a partner that has complimentary strengths so you can leverage each other. # 9 Increase Your Number of Cold Calls: If you implement only one idea out of this article THIS IS THE ONE! Don’t waste your time with anything else unless you cold call – a lot. Look at any report that measures correlation of the success of an individual sales person, or sales team, with the number of cold calls. The number just don’t lie. There is an absolute, and direct, correlation to the number of cold calls and the success of a sales person, or team. Cold calling is just a form of networking. Everyone in the company can support cold calling campaigns, whether you are in sales or not. Cold calling is as simple as What To Do If You Forget Someone's Name estions to ask yourself:What should you do if you run into someone, and just can't remember their name? Ideally, you'll just admit it. Say you remember them, but their name has just slipped your mind. They'll gladly refresh your memory. Admitting forgetfulness up front is perhaps the best option - if you have the courage to do it. If you don't, fortunately there are other options.Option 1: Use a third party. If possible, try to get the name of the pseudo-stranger from a friend before you meet her.Option 2: Make a guess. You're ___, right? If you’re right, the problem is solved. If you’re not, they’ll solve it for you.Option 3: Introduce to others. Saying "Have you two met?" often gets them to introduce themselves to each other. Alternatively, you could say "I'd like you to meet a friend of mine. Josh and I work together at Amcorp." When your friend with the unknown name introduces himself to your friend you’ll get to pick up the name then.Option 4: Ask for their business card. This is a very good non-intrusive way for obtaining a person’s name and contact information. You need to keep your records up to date, so this serves two functions.It doesn't matter which method you use to obtain their name - what matters is that you get it. Using someone's name in conversation makes them feel important, so make sure you have it before you start talking! - Where are you against your goals? - Where is your company against its goals? - Are your goals inline with your company’s? # 3 Know Your Value: Take an inventory of yourself. Understand what you do well, what you do OK, and what you don’t do well at all. Then leverage what you do well and improve on what you do OK and not well at all. Constantly, review your progress and keep adding new skills to your training regimen. # 4 Know Your Company’s Value: Look at your company. What does your company do very well? What is the value of that product/service? Value from your customer’s perspective – not yours. How does this product/service increase revenue or decrease cost for your customer? (Not how can you offer the product/service cheaper than your competition.) Or does it increase efficiency or reduce risk (subset of reduced cost). Again, for your customer, not you. Focus most of your energy on leveraging those things your company does extremely well. Especially, those products/services that add the most value to your customer. This is probably where you can increase revenue the most. # 5 Increase Key Lead Generation Activities: - Write newsletters for existing and potential customers; - Provide Free, or Low Initial Buy-in, offers to drive paid product/service business; - Write white papers; - Develop positioning papers; - Conduct short, value focused, seminars on how you help your clients increase revenue and decrease cost # 6 Automate all Sales Reporting: Use my simple and short three step process to develop your sales reporting system. Here it is: 1) Define Sales Reporting Needs: be focused on the deal and on the client’s timeline; 2) Establish Sales Reporting Needs: make reporting quick and easy for everyone; and 3) Execute and refine as you gain a better understanding of what information is really useful. I don’t recommend that your company spends $5M, or even $5/month, on a Customer Relationship Management (CRM) solution. They take too long to add value anyway - the point of this article is results in 30 days. Look at what you need to report and report it in the most efficient and effective way possible. Leverage information technology, if that makes sense, or just have a process flow for hard copy reports. Define reporting parameters beforehand and make sure that you report in regularly. # 7 Get Help / Offer Help: Show your management that, by having a sales admin you can increase revenue by X. Or reduce cost of sales by Y. Or …whatever metric you can use that shows increased efficiency, value, to the company that you couldn’t do on your own. This sales admin person/team could also support more than one sales person. Show value in real terms and you might get a favorable response. For example, if I was going to pitch this I might say “ Mr., or Mrs. Boss, it has been my experience that, in most cases, Sales admin staff keep more expensive, and productive, sales people (like me) in front of, or on the phone with, a customer, prospect, or suspect. In a layered sales force I feel that can contribute even more time to the sales cycle and won’t spend valuable time on areas of the sales process that I am not as efficient, or cost effective, in. The key here is not to hire more sales staff, it is to get more revenue dollars for every hour of my effort.” If you are not a sales person, then offer to help. Talk to the sales team and determine where you might offer assistance. Working together with sales will give sales a renewed appreciation of you and your department. It will also give you a renewed appreciation of sales. Together you and your partner(s) in sales can revitalize accelerated revenue efforts while being an example for the rest of the company to follow # 8 Leverage Your Hunter and Farmer Skills: There are two types of sales styles to focus on to accelerate revenue, Hunters and Farmers. These two types apply to inside and outside sales people. Hunters are those sales people that love the thrill of the kill. As soon as they ‘close’ the deal they are on to the next. And they are very good at it. The main weakness of the hunter is that they typically do not nurture accounts – they lose interest in the account as soon as the ‘deal is closed. Farmers nurture accounts. They typically don’t penetrate new accounts. They take those accounts first closed by the hunters and expand them. Closing opportunity by opportunity, until they have sold all that they could sell into that account. The weakness of the farmer is that the company that they work for must continue to evolve, adding new products and services, or the value of the farmer drops quickly, for that account, to the company they work for. The key is for you to understand the two sales styles, understand which role you do best in. Exploit your strengths and find a partner that has complimentary strengths so you can leverage each other. # 9 Increase Your Number of Cold Calls: If you implement only one idea out of this article THIS IS THE ONE! Don’t waste your time with anything else unless you cold call – a lot. Look at any report that measures correlation of the success of an individual sales person, or sales team, with the number of cold calls. The number just don’t lie. There is an absolute, and direct, correlation to the number of cold calls and the success of a sales person, or team. Cold calling is just a form of networking. Everyone in the company can support cold calling campaigns, whether you are in sales or not. Cold calling is as simple a Interviewing Candidates: 3 Ways to Avoid Snap Judgments elop positioning papers;Have you ever hired the wrong person? If so, perhaps you are an emotional interviewer?An emotional interviewer tends to make judgments on first impressions. In a matter of minutes, an emotional interviewer may decide if someone is competent or not. Not surprisingly, they often make poor hiring decisions.All hiring managers are susceptible to "emotional" hiring mistakes. Why? Because we are human and we like to hire people that we like or that may mirror ourselves.First impressions, good or bad, tend to skew the interviewer's evaluation of a candidate. Given the difficulty of overcoming first impressions, what can you do as a hiring manager to avoid making hiring decisions based on emotion?• First, conduct phone interviews. Phone interviews are an excellent way to avoid first impression mistakes. You will not be influenced by appearance or gestures; allowing you to concentrate on what the candidate actually says.• Second, ask performance-based interview questions. Performance-based interviewing, commonly known as behavioral based interviewing, is an approach that looks at past behavior as the best predictor of future performance.• Third, be prepared. Having a structured list of interview questions will keep your interview discussion focused on job skills and past performance.TIP: Wait at least 30 minutes from initial introduction before you assess a candidate’s competency - good or bad.In summary, don't be too quick to judge. Be prepared and keep emotions at bay by asking job related, performance-based interview questions. - Conduct short, value focused, seminars on how you help your clients increase revenue and decrease cost # 6 Automate all Sales Reporting: Use my simple and short three step process to develop your sales reporting system. Here it is: 1) Define Sales Reporting Needs: be focused on the deal and on the client’s timeline; 2) Establish Sales Reporting Needs: make reporting quick and easy for everyone; and 3) Execute and refine as you gain a better understanding of what information is really useful. I don’t recommend that your company spends $5M, or even $5/month, on a Customer Relationship Management (CRM) solution. They take too long to add value anyway - the point of this article is results in 30 days. Look at what you need to report and report it in the most efficient and effective way possible. Leverage information technology, if that makes sense, or just have a process flow for hard copy reports. Define reporting parameters beforehand and make sure that you report in regularly. # 7 Get Help / Offer Help: Show your management that, by having a sales admin you can increase revenue by X. Or reduce cost of sales by Y. Or …whatever metric you can use that shows increased efficiency, value, to the company that you couldn’t do on your own. This sales admin person/team could also support more than one sales person. Show value in real terms and you might get a favorable response. For example, if I was going to pitch this I might say “ Mr., or Mrs. Boss, it has been my experience that, in most cases, Sales admin staff keep more expensive, and productive, sales people (like me) in front of, or on the phone with, a customer, prospect, or suspect. In a layered sales force I feel that can contribute even more time to the sales cycle and won’t spend valuable time on areas of the sales process that I am not as efficient, or cost effective, in. The key here is not to hire more sales staff, it is to get more revenue dollars for every hour of my effort.” If you are not a sales person, then offer to help. Talk to the sales team and determine where you might offer assistance. Working together with sales will give sales a renewed appreciation of you and your department. It will also give you a renewed appreciation of sales. Together you and your partner(s) in sales can revitalize accelerated revenue efforts while being an example for the rest of the company to follow # 8 Leverage Your Hunter and Farmer Skills: There are two types of sales styles to focus on to accelerate revenue, Hunters and Farmers. These two types apply to inside and outside sales people. Hunters are those sales people that love the thrill of the kill. As soon as they ‘close’ the deal they are on to the next. And they are very good at it. The main weakness of the hunter is that they typically do not nurture accounts – they lose interest in the account as soon as the ‘deal is closed. Farmers nurture accounts. They typically don’t penetrate new accounts. They take those accounts first closed by the hunters and expand them. Closing opportunity by opportunity, until they have sold all that they could sell into that account. The weakness of the farmer is that the company that they work for must continue to evolve, adding new products and services, or the value of the farmer drops quickly, for that account, to the company they work for. The key is for you to understand the two sales styles, understand which role you do best in. Exploit your strengths and find a partner that has complimentary strengths so you can leverage each other. # 9 Increase Your Number of Cold Calls: If you implement only one idea out of this article THIS IS THE ONE! Don’t waste your time with anything else unless you cold call – a lot. Look at any report that measures correlation of the success of an individual sales person, or sales team, with the number of cold calls. The number just don’t lie. There is an absolute, and direct, correlation to the number of cold calls and the success of a sales person, or team. Cold calling is just a form of networking. Everyone in the company can support cold calling campaigns, whether you are in sales or not. Cold calling is as simple a Going Global: Communication Across Mental Boundaries terms and you might get a favorable response.A completed communication consists of a sender and a receiver. If there is just a sender - like in a pitch, or a lecture, or a commercial, or advertisement, or even a newsletter - it's not a communication, but an assertion, or a monologue, or an opinion.Sometimes, when we have something we passionately want to say, we become so involved in formulating the crucial words that might make the listener take heed (we are caught up in needing to be heard) that we forget to ask ourselves one fundamental question: do we want to speak? Or have someone hear us?I just found out how difficult this choice can be on a recent trip to Hong Kong and Shanghai. And this is a problem many of us face when attempting to enter another culture - be it a personal, inner culture, a group culture, or a country culture.REMAINING IN OUR OWN WORLDLet me begin by saying that both Hong Kong and Shanghai are where I believe the revolutionaries went when they left the States four years ago. Hong Kong is a very exciting place. I've been there twice now, and find the people smart, innovative, sophisticated, and creative. They are bursting with dynamism and ready to take risks. Shanghai is quite different and less international, but it, too, it exudes excitement and warmth and vibrancy - filled with anticipation and a special glow (with a large dose of humor and a gold-rush mentality).Both cities welcome change, believing it's better to face change than stay the same. In fact, I find it more exciting to do business there than in the States right now: from my vantage point as an innovator, it seems to me that America has become rather risk-averse.The 'dot.com' era's disintegration caused the American companies I've done business with to cut back on innovation. As a result, they're holding on to what they know - however successful that might be - and trying to make it work. Companies are 'making do' or doing the same thing harder/faster/larger.Before I open up a discussion around global communication, let me take a long 'way round to harp on one of my pet peeves (I'll come back full circle, you'll see): I see this inability to truly go outside our thinking box and do something different as actually harming our revenues and, worse, our future.I see Hong Kong and For example, if I was going to pitch this I might say “ Mr., or Mrs. Boss, it has been my experience that, in most cases, Sales admin staff keep more expensive, and productive, sales people (like me) in front of, or on the phone with, a customer, prospect, or suspect. In a layered sales force I feel that can contribute even more time to the sales cycle and won’t spend valuable time on areas of the sales process that I am not as efficient, or cost effective, in. The key here is not to hire more sales staff, it is to get more revenue dollars for every hour of my effort.” If you are not a sales person, then offer to help. Talk to the sales team and determine where you might offer assistance. Working together with sales will give sales a renewed appreciation of you and your department. It will also give you a renewed appreciation of sales. Together you and your partner(s) in sales can revitalize accelerated revenue efforts while being an example for the rest of the company to follow # 8 Leverage Your Hunter and Farmer Skills: There are two types of sales styles to focus on to accelerate revenue, Hunters and Farmers. These two types apply to inside and outside sales people. Hunters are those sales people that love the thrill of the kill. As soon as they ‘close’ the deal they are on to the next. And they are very good at it. The main weakness of the hunter is that they typically do not nurture accounts – they lose interest in the account as soon as the ‘deal is closed. Farmers nurture accounts. They typically don’t penetrate new accounts. They take those accounts first closed by the hunters and expand them. Closing opportunity by opportunity, until they have sold all that they could sell into that account. The weakness of the farmer is that the company that they work for must continue to evolve, adding new products and services, or the value of the farmer drops quickly, for that account, to the company they work for. The key is for you to understand the two sales styles, understand which role you do best in. Exploit your strengths and find a partner that has complimentary strengths so you can leverage each other. # 9 Increase Your Number of Cold Calls: If you implement only one idea out of this article THIS IS THE ONE! Don’t waste your time with anything else unless you cold call – a lot. Look at any report that measures correlation of the success of an individual sales person, or sales team, with the number of cold calls. The number just don’t lie. There is an absolute, and direct, correlation to the number of cold calls and the success of a sales person, or team. Cold calling is just a form of networking. Everyone in the company can support cold calling campaigns, whether you are in sales or not. Cold calling is as simple a Year-End Fundraising Letter Appeals: 10 Tips to Give Them a Boost at Christmas the hunter is that they typically do not nurture accounts – they lose interest in the account as soon as the ‘deal is closed.If your non-profit organization is like many others, you receive half or more or your contributed income at the end of the year as part of what used to be called the "Christmas Appeal." In recent years it has come to be known as, in politically correct North America at least, the "Year-End Appeal" or "Seasonal Appeal."Which means your year-end appeal letter can make or break your year, financially speaking. Here are some tips on how to craft a winning year-end fundraising letter appeal package.1. Keep it simple One non-profit ministry that I shall not name mailed their year-end appeal letter in a poly bag along with their donor newsletter. They had been late in getting their newsletter in the mail and so, to save on postage, they mailed it along with the seasonal appeal letter. The campaign bombed, and bombed big. Donors, as far as we could tell, read the full-colour newsletter and ignored the letter that came with it. So my advice is this: keep your year-end appeal simple and focused on one goal: securing a year-end donation.2. Be creative You will be competing with other organizations in the mailbox. Every charity sends an appeal at Christmas. So stand out by mailing something creative. When I worked with Doctors Without Borders as their fundraising letter writer, they mailed a Christmas card to donors that donors then signed and returned to the organization with their gift. Doctors Without Borders forwarded the card to a volunteer doctor or nurse who was serving overseas, and whose name was on the card. The cards were greatly appreciated by the volunteers (many of whom were homesick at that time of year). The cards also involved donors in a way that warmed their hearts and motivated them to contribute.3. Look back with thanksgiving Use your year-end appeal fundraising letter as a way to thank donors for their support during the past year. Don't list the names of every staff person you hired or promoted, or go on at length about happenings at head office. Instead, tell at least one heart-warming or compelling story that illustrates in vivid terms how your donors' gifts changed lives. Use quotes from the people that you serve wherever possible. They add credibility and hum Farmers nurture accounts. They typically don’t penetrate new accounts. They take those accounts first closed by the hunters and expand them. Closing opportunity by opportunity, until they have sold all that they could sell into that account. The weakness of the farmer is that the company that they work for must continue to evolve, adding new products and services, or the value of the farmer drops quickly, for that account, to the company they work for. The key is for you to understand the two sales styles, understand which role you do best in. Exploit your strengths and find a partner that has complimentary strengths so you can leverage each other. # 9 Increase Your Number of Cold Calls: If you implement only one idea out of this article THIS IS THE ONE! Don’t waste your time with anything else unless you cold call – a lot. Look at any report that measures correlation of the success of an individual sales person, or sales team, with the number of cold calls. The number just don’t lie. There is an absolute, and direct, correlation to the number of cold calls and the success of a sales person, or team. Cold calling is just a form of networking. Everyone in the company can support cold calling campaigns, whether you are in sales or not. Cold calling is as simple as calling someone you know, a friend/associate, in a company that is not a current customer, or in a different division in a current customer, and having a conversation about their business – everyone loves to talk about themselves. Keep in mind that you do not need to close the order. You need to initiate the contact and then get a sales person involved. You can continue to follow up with the sales person as the opportunity materializes to an order. Just make sure that, once you have initiated contact, you communicate through the sales person or you just might become the problem. # 10 Perform and Leverage Win/Loss Reviews: Win/loss reviews are probably the most valuable sales tool to use AT ALL TIMES, and not just in tough times. Unfortunately, since most of the results of the review are view as more of a marketing function, most sales organizations do not do them, or worse, do them incorrectly. Also, many sales people, and their managers, are afraid of what the review will tell them – what they need to do to be successful. (areas of weakness) What a win/loss review is? A win/loss review is an in depth analysis of all aspects the sales process for a particular deal. You need to look at each and every win, and loss, and ask, sometimes tough, questions. Questions that are very similar to what you learned in college about journalism, the five W’s and one H, sometimes called the ‘Journalist’s Six W’s’ (Who, What, When, Where, Why, and How). Why you won the deal (Win Review)? Or Why you lost the deal (Loss Review)? As you review your wins, and your losses, make sure you continuously scrutinize your pricing policy. If you are losing based on price, make sure that you understand, in detail your sales process. If you sell based on value (realized value to the customer, not what you perceive your value to be) then you don’t need to reduce price, you might just need to work on your approach in establishing, and communicating, value for the customer. # 11 Visit Your Past Customers: Start with your top ten former customers. Call them, or have them called by an executive. See how they are doing. Ask them why they have not done business with you recently (this is a very valuable method to understand the customer’s perception of your company). If there are any issues, work through them. If not, engage the customer. Get back in there. Work a deal. Get the relationship back on track. # 12 Commit to Become the Sole Source for Your Key Customers: Just the commitment to your key customers would provide you huge returns. As you make this commitment to yourself, your boss, and your customer, impress upon everyone that you will do this by adding value to everything you do. Making this commitment will force you to look at all aspects of your customer’s business and understand where you, through your products/services and other capabilities, can enable your customer to increase revenue and/or decrease cost. Focusing on your customer’s business and how you can increase revenue and decrease cost will not only help you grow revenue, but also increase your gross margin on every deal. If you stay committed and honest, this process will be the springboard for a very long and very profitable relationship for you and your customer. # 13 Determine What Your Customers WILL Want: Don’t just look for what you customers want right now. Figure out what their needs will be in the future. Key note: Your customer probably does not know what she needs now. She knows what she wants, but not what she needs. As well, she probably won’t know what she will need in the future. It should be your mission in your professional life to know the future needs of your customers. – Be ahead of your customers and you will be ahead of the pack. # 14 Take Your Executive Team Out on Sales Calls: The CEO of any size company is usually the best sales person. If you think that he is not a sales person, you are wrong – dead wrong. How did he get funding? How did he hire his first staff member? How does your CEO get the management team to get what he needs done, done? He sold them, he sold them all. Your CEO owns the vision, in most cases it is HIS vision! Who else can best sell his own vision? I do not recommend you take the CEO out on the first, second, or third call. Look at your sales pipeline, take the proposal that is the largest in revenue, or is the most profitable, or you know the most about the customer/buyer. Set up a face-to-face meeting. This meeting should be with someone on your customer’s senior executive team only, preferably with the CEO. Go and get the order. This process affords you the opportunity to: 1) get to know your executive team, 2) get to know the customer in a new light, 3) understand the issues in closing business today, and 4) gain confidence in what you, and your company is doing, or needs to do. Worst case, you are educating the executive on the sales team and sales process. # 15 Advertise your success (internally to your organization at first, externally if you feel it is appropriate). # 16 Reduce Time Spent on Non-Customer Meetings: Unless absolutely necessary and even then, when you can, stop all, or reduce the amount of, time spent on internal meetings. If the meetings MUST happen then make them outside customer’s business hours. Every minute that you are in an internal meeting, you are not in front of, or on the phone with, or supporting the needs of, a customer, prospect, or suspect. Your company is in the business of making money. Every minute that you are not in front of, or on the phone with, or supporting the needs of, a customer, prospect, or suspect, you ar
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