Categories
Archives
Search
Category: Sales
The Secret that Top Performers Know
In his book, “Five Secrets I Learned from Millionaires”, author Paul Evans talks about “Winning in the margins.” It is based on the concept that profitable activity works best when done with consistency, and the most incremental difference can add up to big success.
Want more revenue?…Be an “A” student
Yesterday, I was talking to a client who wanted to increase his income growth rate. He had been operating on the classic maxim, “If you want to earn more, increase the amount of time you spend in direct conversation with qualified prospects”. This rule had served him well so far. Now, he wanted more.
Our Reputation: The platform that our success is built on
“It’s never crowded in the extra mile”
-Zig Ziglar
In a Business Week interview in November, 2012, Apple CEO Tim Cook talked about the success of Apple. He mentioned how Apple’s reputation and relationship with its customers was their most prized asset. He knows what he is talking about. A good business knows how to create and keep customers. They also know that a sterling reputation is vital.
Ego Strength…The Backbone of Execution
In the early 50’s, a young fellow named Sydney Poitier came from Jamaica to New York City. His goal was to be a great actor. Over the next 20 years, he achieved that goal. Getting there wasn’t a cinch.
As Mr. Poitier approached agents, directors, and producers, he was consistently met with scorn and ridicule. He now claims that one of his key secrets of success came every time he got knocked down and humiliated: When these things happened, he got tougher.
In his book, “The Happiness Advantage”, psychologist Shawn Achor talked about the habit of “Falling up”. Like Sydney Poitier, this means that whenever we encounter setbacks and crises, we pick ourselves up and get back in the ring with even more gusto. All high achievers have this quality.
In 1995, Met Life hired behavioral psychologist Martin Seligman to help them with their sales staff. Reps were underperforming and the turnover was high and costly. Dr. Seligman decided to make the key hiring criteria be the candidate’s strength and resilience in attitude. As a result of this experiment, they discovered that the optimist outsold the pessimist by 40%!
When we are planning to succeed, we need the right mental programming. Here are some questions we can ask ourselves when we hit these “bumps in the road”.
- What happened?
- What is my interpretation of what happened? Is it positive? If not, what are some positives I can learn from this?
- Is this event part of a pattern, or is this an isolated event?
- What is the problem (No Blame, and make sure you are not just giving a symptom)
- What are some possible solutions?
- What is the best solution?
- How can I begin implementation?
These questions can lead us to a winning attitude and better ego strength. We can do this, or we can be a victim. In the words of the late Steven Covey, “Act or be acted upon”
The price objection….welcome it!
The price objection….welcome it!
A couple weeks ago, I was having a conversation with an entrepreneur business client. She had checked around with her competition, and was considering lowering her prices to be more competitive. We talked about her situation and took a “deeper dive” in to this dilemma. After doing so, she came to the firm conclusion that lowering her price was not the solution to the problem. Instead, she decided to focus on selling the added value she had to offer.
A Chevy is cheaper than a Cadillac, and they sell a lot more Chevy’s than Cadillac’s. Cadillac has an added value that people are willing to pay for. How do we sell added value? Let’s break it down:
- Determine exactly what the prospects want and why they want it. (http://www.durhamcoach.com/blog/2012/06/06/selling-vs-telling-the-critical-factor/)
- Know about how your product is unique and be able to communicate this distinction. Break down your knowledge into facts, features, and how they relate to the needs expressed by the buyer.
- Be able to create a word picture that can take the prospect forward.
To illustrate, let’s use an example: Here is the situation:
You are at the point where you are looking to close the sale. The prospect says they are going to shop around:
Me.: “That makes sense. In fact, I like to make sure I shop around myself when considering an important purchase. As you do your shopping, here are some key features you can keep in mind as you are preparing.
- This event will be an exclusive. You people will enjoy personalized treatment
- We have twice the average number of servers. You mentioned how important that your guests were responded to promptly
- Each server receives 6 months training in our special customer service program. That means you can count on us serving your needs with excellence and professionalism.
(Word picture)
Cheryl, as I understand your situation, you want your wedding to be fun and memorable, and you would like your guests to reflect positively on the whole experience for many years to come. Is that correct? Let’s imagine it is your wedding day. Here you are walking in with your new husband. As you enter….
From this point, we would project a picture that was clear, vivid, and unforgettable. Here are the fundamentals:
- Details
- Present tense
- Positive
One of my friends describes this part of the sales process as “play the movie”. We all like good movies, and when a sales professional is able to put us in a nice picture, they touch off our positive emotions, and make us want to move forward. This process creates added value, and can be very powerful.
Summarizing, the next time you are tempted to lower your price, make sure you have made time to take stock of your qualities.