Month: September 2011

Categories
Sales & Marketing

Why Your Customer Doesn’t Like Your Price

Article Contributed By Mark Hunter “The Sales Hunter”

You’ve had what you think is a great sales call. You feel you’ve done everything correct, and you are certain the customer will soon say “yes” to your offer.

Just as quickly as you think the customer will buy, they say something along the lines of, “I like what you’re offering, but your price is way too much.” Without missing a beat, you begin to shudder at the thought of losing the sale.

Let’s look at why your customer doesn’t like your price.

It comes down to one reason. The one and only reason your customer doesn’t like your price is because they have failed to see enough value in what you are offering to warrant paying the price.

Don’t believe for a moment it’s because a competitor might be offering a lower price.  Certainly don’t allow yourself to believe the customer would be better off waiting for a better deal.  Finally, don’t even entertain the thought that your price might really be too high.

The correct answer is the customer simply has not seen enough value in what you’re offering.

The easiest way to correct this problem is to get the customer’s input.  Don’t wait to do this after they’ve rejected your offer, but rather do it at the beginning.  At the start of the sales call is when the customer’s input is the most valuable.  The reason I say this is because the first half of the sales call is when the customer is going to be the most forthcoming with information.

It’s not unusual during a sales call for the customer to begin sensing the salesperson may try to ask for the order.  If the customer begins to believe this and they are the least bit hesitant, they may very well start throwing out false information.  The customer may start talking about objections that are really irrelevant to their real need. They will do this purely to disarm the salesperson.

This is the reason why it is so important to engage the customer early in the sales call and to get them to begin sharing with you their wants and needs.  The earlier they share with you this type of information, the better job you can do later in the call in following up on this information. You can then drill down deeper to get even more specific information.  Your objective is to get the customer to really see that the issues they’re facing are significant – and the only solution available is the one you are offering.

Some of you might think this is manipulative selling or arm-twisting, but it’s not that at all. If you, the salesperson, are merely asking questions and getting the customer to do the majority of the talking, then how could it be called arm-twisting?

Your objective as the salesperson is to get the customer to share with you at least three reasons they need what you’re offering.  One of the three should be time sensitive.   The customer’s time-sensitive need will allow you to close the sale now.  It’s the other two that will allow the customer to see why they need to buy.

I use three benefits as the minimum, but the more the customer shares with you, the higher the probability you will be able to close the sale.  I use the number three because more often than not, if you try to close before the customer has shared three of their wants or needs, you won’t be as successful.  Of course, this excludes the overwhelming benefit or need they share with you that is so big and time-sensitive that it invites an immediate close.

When the customer shares with you a time-sensitive need, this is a perfect opportunity to first validate the time need.  You validate it by asking them a question to get them to share more about why time is an issue.  By getting the customer to explain this further, you will discover that the customer usually becomes even more conscientious about why they need to buy from you right now.

When you feel as if a customer doesn’t like your price, you simply need to remember they only fail to see the value of what you are offering.  As long as you remember it is your job to help them see the value, you will increase your odds of success dramatically. I’m not going to say you’ll be 100% successful with this approach, but I know the more you use it, the less often you will hear the “price” excuse when a customer doesn’t buy.

About the Author

Mark Hunter, “The Sales Hunter,” is a sales expert who speaks to thousands each year on how to increase their sales profitability. For more information, to receive a free weekly email sales tip, or to read his Sales Motivation Blog, visit www.TheSalesHunter.com. You can also follow him on www.Facebook.com/TheSalesHunter, www.Twitter.com/TheSalesHunter and www.LinkedIn.com/in/MarkHunter.

Categories
Human Resource

Small Tidbits to your Resume making Big Difference

Article Contributed By Mystique

The Corporate life is getting more competitive day by day with the flow of incoming candidates for jobs. If you want to get shortlisted for a job then you need to make some small changes in your resume so that it doesn’t get lost in the HR’s stack. Sometimes companies lose good candidates or rather Candidates lose a perfect job due to poor presentation of their skills, education and experience on the white paper. Here are some small tidbits which can help you build an excellent resume and stand high on the stack.

Avoid writing too much about irrelevant experiences

People who have a loads experience they like to write about all their experiences which kind of makes the resume long and boring. What the HR wants on the resume is that whether you have the particular skills and experience for the job or not. So write about the skills and experience which is needed for the applied job and just mention (don’t describe) your other job experiences. By this the HR who doesn’t want to read other stuffs will not get bored and the HR who is more inquisitive will be getting the answers easily.

Don’t look dull

Some people write formatted lines “My aim will be reaching the top position of the company …” which they usually copy from different sites or formats. Please avoid those formats as they are used when people are using resume for the first time. HRs try to find some new & exciting feature in your resume. Unless they think you resume copied from somewhere and it proves that you’ve got no talent writing your resume yourself. People also write common hobbies and interests. It makes your resume look dull and that’s when the HR starts to think of throwing it to the trash.

Avoid boring Objectives

Most of the people like to write boring objectives in their resume which they think will give it a direction which is actually wrong. It just diverts you out from the line. Rather you can replace the objective with a career summary. Because when you include objectives then it gives your resume a format and the thing is HR doesn’t want format, he wants what innovation you used to present yourself.

Don’t look Hazy on the Career Summary

Some people have got so many experiences that they get confused while writing the career summary and there is when you lost the job. When you come from various fields and applying for a new job, then first decide how to summarize your all other job as per your choice. Don’t go for any format, just write the way you enjoyed your all previous jobs. So there the HR finds that you didn’t quit your previous jobs because you get bored.

Attach a Photo

If you’re applying for a job which needs presentation skills and has a face value then you must attach a photo with your resume. Sometimes employers’ shortlist candidates from their looks as they need those faces to present the industry. As per the corporate rules face value should not get counted when you’re selecting a candidate, but most of the time its not followed. So there is no harm if you can attach a photo.

Be simple with the wordings

Don’t write complicated sentences about your job. You may have job experiences about which the HR may not know, so just make it simple to him by explaining what overall you or your previous company did. Don’t go for complicated job descriptions and use simple known words. By this the HR will read it simply will find some new thing on your resume too.

About the Author:

Mystique is a new Job Blogger and wants to share his job experience with the job bloggers. Mystique likes to write about the factors that help you get a job, surviving on the job, the job environment and how to get kicked out of it too, on his new blog The Job Factor. He is an avid gamer, computer geek, web designer and a jobber too.

Categories
Online Business

How to Work with Your Web Designer to Get A Profitable Online Presence Even When You Are Time Starved

Article Contributed By Cathy Goodwin

Many business owners find themselves putting “website makeover” (or even “website development”) on the back burner because they just don’t have time – even though they know they are leaving money on the table.  Others are too busy working with their current clients to develop their own compelling online presence.

The truth is, you don’t have to wait till you get some time freed up, which might not happen for another decade. And you don’t have to settle for a half-baked website that looks pretty but doesn’t bring you clients, sales and traffic.  You can get a new website up fast, when you apply just 3 strategies for working with your website designer.

Strategy #1: Create your content – all your content – before you even think about developing your logo, color scheme or website layout.

Many business owners call a web designer or even a web development company as their very first step.  After all, most of us are conscious of what a website looks like. We’re often taught to associate “website development” with “web design.”

My clients have been surprised to find how much time and money they can save by starting their website makeover by writing content, either as a DIY or by hiring a copywriter first. Here’s why.

  • You can lose your place in the designer’s queue if you do not have your content ready. Your web designer can’t complete your project without content.  When your designer has to wait for your content, he or she moves on to other projects. When you finally call to say, “Content is here!” your designer may be in the middle of another project. She needs more time to re-learn your requirements and you probably will be charged for the extra time. Besides, she can’t stop work on her current project. You may wait a month or more to get your project going again.
  • Your designer relies on your content strategy to create a header graphic and choose the colors. Otherwise the design you choose will not support your message and may even clash with your USP (Unique selling Proposition). For example, I worked with a client who had paid for a high-end graphic of a relaxed beach scene. When we reviewed her niche, she realized she needed an image that was stark and strong. Mountain cliffs and stormy waves would have been more appropriate. My client was then faced with a choice to keep a graphic that didn’t fit her strategy or acknowledge that she had paid for an online presence that would be confusing rather than compelling?

Strategy #2:  Work with a copywriter to help you communicate exactly how your audience will benefit

When it comes to websites, many business owners focus on eye-popping graphics and they agonize for hours over website colors and typefaces.

Yes, when you stand out from the crowd, you earn more revenue with a whole lot less effort. You can command higher fees because prospects realize you are unique. However, they won’t respond if you just LOOK unique. Your prospects and clients want to be sure you haven’t just taken an old brown cow and slapped on some purple paint.

That’s where expert copywriters make the difference as they can paint word pictures and introduce you as a 3-dimensional, standout professional. The truth is, your copywriter can set up the content so your designer can’t help developing a website that’s your own version of a purple cow.

Strategy #3:  Put your players in the best position to win the profit game. 

Often, business owners expect the web designer to win the whole online marketing game single-handedly with color, design, traffic and navigation. The truth is, if your website were a football game, the content would be the quarterback and the design would be your offensive line.

On the football field the quarterback calls plays and makes sure the ball gets down the field to score points. The job of the offensive line is to make sure the quarterback gets through, unharmed, without interference.

On your website, your designer’s job is to make it easy for visitors to read your copy. Just as good linemen protect their quarterback, your web designer makes sure your graphics support your message and your site is easy to read.

Your copywriter calls the plays: How do you identify your niche so you know how to reach them easily (and motivate then to take action on your offer)? Which pages get featured on the main menu bar? What metaphors and stories will frame your content?

Once these critical decisions have been made, your web designer can implement the technical and visual components of your site. Some copywriters will even guide your designer and manage the entire project, just as a football quarterback is the coach on the field.

Now, Are You Ready to Work More Effectively with Your Web Designer So You Can Start Getting More Prospects and Clients?

The simple strategies I described in this article will multiply your marketing efforts, whether you are a beginner who’s trying to develop a website while creating a new company or a seasoned veteran who is busy seeing clients but desperately needs an upgraded website to keep prospects in the funnel.  Now you can skip the hassle and time-consuming detours that many business associate with online marketing.

About the Author:

Master Copywriter Cathy Goodwin helps time-starved entrepreneurs and owners of professional service firms create a profitable website presence fast, even when they are short on time. Now, she invites you to grab her FREE 5 Point Website Profits Checklist – that should be used as a guide as you complete the website development process. Get your checklist now at: http://www.CopywritingWithCathy.com

 

 

Categories
Communication Skills

Social Media as a Negotiating Tool

Article Contributed By Mark Hunter “The Sales Hunter”

Social media has blown on to the scene the last couple of years with the popular websites of Facebook, Linkedin, Twitter and many others. Nobody can tell for sure what social media will look like five years from now, but what everyone can agree upon is that the concept of using the internet to socially communicate is not going away.

For salespeople, an important question is, “Can social media help in negotiating?”

My answer is, “Yes, it can.” I’m not saying you should directly negotiate with another person by way of a social media (although I suppose there might be exceptions where this is possible). What I am saying is that social media is a perfect tool that someone can use to help frame a situation or build their on-line reputation before the negotiations even begin.

Negotiations are won or lost in two critical areas. The first is the period of time leading up to the start of the negotiations, when both parties are preparing to negotiate. The second is at the end, when the two parties are working out the details of the negotiation.

With regard to social media, I am not an advocate of conducting business negotiations in public. The reason I feel this way is because it is important throughout the negotiation process to maintain respect and integrity for everyone involved. This can be very hard to ensure if stuff is being thrown around for others to read and see. This is the reason I say the best use of social media in negotiations is before the negotiations even begin.

Using social media before negotiations begin allows you to establish the context of who you are and what your expected outcome might be. Best example of this is Donald Trump. He uses social media tools and the media in general to let everyone know who and what he is.

Trump’s goal is to make his brand known, and his brand really is himself. He wants his brand to appear favorable. He does this by coming across as a shrewd businessperson, and he uses social media to further this persona. On the one hand, this gives him an upper hand in any negotiations. On the other hand it also alerts everyone who might be planning to do business with him that he most likely is going to be very tough.

Conversely, a person who has used social media to cast a tough but fair image is billionaire investor Warren Buffett. The image he has crafted in social media and the media in general is one of a very smart long-term investor known for making quick deals based on how he sees a situation. The result of this image is many people might be far more willing to enter into negotiations with Warren Buffett under the belief they would be treated more fairly than if they were negotiating with Donald Trump.

The examples I use are extremes, but you see the picture. This is why I am a very strong believer that anyone who is planning to do any amount of negotiating with others needs to make sure their internet image is the one they want.

Use social media sites to position you and your company in the manner you want to be seen by others. Be active in how you do this. If you’re not active yourself, other people may craft an image of you that is not accurate.

If you are about to enter into negotiations with another party over a business contract or anything else for that matter, the other party likely will “Google” your name or company to see what they can learn about you. (This is a very common practice).

The other party is going to read all they can about you, and what they read may impact how they choose to negotiate with you.

Some people may like to believe that social media does not have a place in the professional business world. Sorry, but that is old-school thinking (or maybe I should say, “That is so 2009 thinking!”) Today, search engines capture everything, and people expect to find out everything. When someone can’t find something on the web, they become that much more suspicious.

Finally, don’t think for a moment the web is going to become any less powerful in the years to come. Just the opposite is true. It’s going to become more powerful. The sooner you accept the reality that you need a solid social media strategy, the better. The strategy of what you post, how you position yourself and so forth is up to you. Choose wisely and be consistent.

Always remember that the respect you show to others and the integrity you live by are priceless. If you build your social media strategy around respect and integrity, you’ll be well on your way to positioning yourself properly for today and tomorrow.

About the Author
Mark Hunter, “The Sales Hunter,” is a sales expert who speaks to thousands each year on how to increase their sales profitability. For more information, to receive a free weekly email sales tip, or to read his Sales Motivation Blog, visit www.TheSalesHunter.com. You can also follow him on www.Facebook.com/TheSalesHunter, www.Twitter.com/TheSalesHunter and www.LinkedIn.com/in/MarkHunter.

Categories
Finance & Capital

4 Ways to Get Working Capital for Your Business Without the Bank

Article Contributed by Gary Barzel

As stagnant or declining sales and the increasing costs on everything from commodities to healthcare have whittled away the profit margins of numerous small business owners, getting adequate financing to cover day-to-day operations has become more difficult. Banks and other commercial lenders in particular have been rather tightfisted these days with businesses that have taken a hit to their revenues and credit profile.

If your business has been struggling lately to come up with a sufficient cash flow, and your bank has not been so eager to help, you may want to consider one of the four following financing alternatives:

Accounts receivables factoring and financing.

Accounts receivables (AR) factoring and financing involve leveraging outstanding customer invoices in exchange for instant cash. With AR factoring, a business typically receives 70-90% of the total value of the receivable, the rate being dependent on the age of the account. The factor company then assumes responsibility for collecting the outstanding invoice. Upon full receipt of the payment from the customer, the factor company will return the remaining balance, minus a small processing fee. With AR financing, the business uses the invoices as collateral for financing, yet is still responsible for collecting payment from customers.

Merchant cash advance.

With a merchant or business cash advance, companies can leverage their future revenues to receive instant capital. In this case, the financing company purchases a portion of the business’ future revenues at a discount (the rate of which is generally based on the business’ sales history). The business then receives an instant lump sum of capital, while the financing company collects a fixed daily percentage of the business’ sales until the full agreed upon amount is paid off. Some cash advance companies will only work with credit card revenues, others offer financing on all future sales.

Peer-to-Peer (P2P) lending.

If your personal or business credit rating is 600 or higher, then you might want to consider a short-term microloan from a peer-to-peer lending platform, such as Lending Club or Prosper.com. With P2P lending, business owners submit a request for funding to the site including a short description of what the money will be used for as well as some of their current financial information. Individual investors then contribute small amounts of money until the desired loan amount has been reached.

Renting out your property or assets.

One final way to generate capital for your business is to rent out (or sublease if the property owner allows) any unused real estate or equipment. The rental is usually a short-term agreement that can last for a year, a few months, and even on a day-to-day basis. You should just make sure that you have a clear rental agreement in place and that renting out your business’ equipment or property is realistically doable.

In short, if you are looking for working capital for your business, your search does not have to begin and end with the bank.

About the Author
Gary Barzel is the manager of business development for Fastupfront. Fastupfront offers a working capital solution for merchants in need of business loan financing without the hassles associated with traditional bank loans.