Here is an interesting story from abcnews.com – What Do iPhones and Designer Jeans Have in Common? The answer is found in the subheading – They Keep Selling, Even in Recession. Here is a list from the article in regards to hot-selling products during this recession: The iPhone Designer jeans Wal-Mart and Costco McDonald’s Internet access High-definition TV sets An odd list, wouldn’t you say? The low-price options are logical, the other ones not-so-much. The explanation from the article: “Even in down times,” said Michael Gartenberg, vice president for strategy and analysis at Interpret LLC, “people still have some discretionary income. What happens is that they spend it more carefully.”… Read More
Continue ReadingPersuasion Through Scarcity And Fear Of Loss
I was a psych major in college which seemed to be the perfect preparation for a sales career. I believe it was. To this day I am still intrigued by the psychology of selling which could truly be described as persuasion. That background helps explain why I found this ManageSmarter.com article completely gripping – Mastering the Psychology of Persuasion. You will have to read the entire article to appreciate the depth of it, but let me pull out a couple of points. First one of the set-up questions: • Are left-handed people more prone to some mental illnesses, accidents, or seeking positions of power? And from later in the article:… Read More
Continue ReadingStorytellers
This sales-focused article from the Salesopedia.com website discusses the power of telling stories when selling: Think about it: If you were in the audience for another sales person’s sales presentation, which kind would you rather listen to: one in which the presenter simply recited a list of features and benefits, facts and statistics, or one that included a stimulating, engaging, riveting, or inspiring story about how you helped another customer solve a problem similar to the one with which you’ve been wrestling, or achieved an outcome you’re looking to achieve? Which would move you, and which would bore you? Which would be memorable, and which would be forgettable? Stories are… Read More
Continue ReadingAn Awful Approach
I receive many email approaches each day which often leads to studying each one’s strategy. Here is the opening line from one I received today: WANT TO GROW YOUR BUSINESS? Lazy. Insulting. Those are the first two words that come to mind when I read that opening. I suspect the author’s belief is that everyone will agree to the opening question so it will be effective. It isn’t. The opening approach needs to warrant the reader’s attention, but don’t do it in an insulting manner. The question has a subtle intimation that the person doesn’t know how to do it…but you do. That is a bad position in which to… Read More
Continue ReadingThe Little r Relationship
SellingPower.com offers up a spot-on short article about maintaining customer relationships in this economy. The pressure on salespeople is extremely high right now in two regards – there are limited opportunities to close new business and the business world continues its radical information shift thanks to the Internet. First off, companies have slowed down their purchasing, but they are still purchasing. I think this fact gets lost in the doom-and-gloom reporting that saturates our senses. The tactical truth is that salespeople are going to have to unhook business from their competition to increase their sales. Many order-taking salespeople will fail miserably in this endeavor. Second, prospects are far more informed… Read More
Continue ReadingThe Downward Spiral To Commoditization
We’re fans of Jeff Thull here at The Hire Sense and his latest article on the Salesopedia.com only supports our belief. Anyone who has been in sales longer than a day has seen a sea change in the customer relationship over the past couple of years. Rapid commoditization is a huge problem even for “unique” solutions. Here is the crux of what is happening (emphasis mine): Seeking competitive differentiation through increasing uniqueness and complexity can be a deadly double-edged sword, especially if building that differentiation exceeds the needs and understanding of your customers. You and your competition may believe you have a high-value product or service, but if your customers… Read More
Continue ReadingDown 25%
That is the number I continue to hear from salespeople in a variety of markets when I ask them how are sales? That is a staggering number when you think about it. Unfortunately, those are the times we live in for now. I continue to believe that the best method for offsetting this decrease is to go take business from your competition. Who are their top customers? Those accounts must always be your top prospects in any economy. In today’s economy, I believe it will be difficult to persuade companies to invest in new purchases. However, if they are currently buying from a competitor, salespeople need to unhook the business. … Read More
Continue ReadingSales Hobble
Great title from Justsell.com, don’t you think? From their monthly newsletter (sorry, no link): Top 3 activities that can hobble a sales day… 1. Talking with people who can’t move the sales process along 2. Unnecessary research activities What’s too much? There’s really no definitive answer. It’s particular to your sales world. Many people start to get a gut feel for when they should move on. The key is to act on it and make the call (rather than making sure every little thing is known before the call – fine line, of course). You might be surprised what you can learn by asking a straightforward question of the person… Read More
Continue ReadingIt’s All About Leads
Ask any salesperson and they will likely tell you that good leads are the most important aspect of successful selling. I’ve worked for companies at all different levels on this topic – from absolute garbage leads (the company thought they were good) to golden leads (that were often ignored!). The golden leads are money if you have salespeople who can effectively qualify. To that point, Miller-Heiman has released their annual Sales Best Practices Study (h/t Managesmarter.com). One of their many interesting findings: Organizations in which sales and marketing are aligned regarding their target market, customer profile, and lead definitions are in a much stronger position to produce quality leads. Maintaining… Read More
Continue ReadingFindability
It is a travel day for me – back to the cold of Minnesota – so may I suggest a thought-provoking article from the Killian BrandAid email newsletter? Finability: Catch The Fourth Wave is a must read. First a taste: Buyers, not sellers, control all transactions. That’s a sweeping generalization, but let’s sweep together: Your prospects feel entitled to do their own research, given that they believe they have the information resources to find you (and, of course, find your competitors). Since a brand’s first duty is visibility, it’s essential that every organization with competitors (let’s spell that out: You) must engage in findability engineering. Your future depends on it.… Read More
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