Category: Sales & Marketing

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Sales & Marketing

6 Do’s and Don’ts of Using an iPad on a Sales Call

Article Contributed by Mark Hunter

So you now own an iPad or other type of tablet and you’re wondering if you should use it on a sales call.

Here are 6 quick rules to consider:

1. Don’t use it just because you have one.

Who really cares?  Just because you own the newest electronic gadget doesn’t mean the customer you’re seeing doesn’t own one too – or worse yet, despises people who do own them.  It only makes sense to use one on a sales call if you have a purpose for using it.

2. Do use it if it simplifies your sales call.

Using an iPad can be a great way to easily access rate information and other critical pieces of information quickly if the need arises.  Certainly having an iPad also allows you to walk into a sales call carrying a lot less “stuff.”

3. Don’t use it to “wow” the customer.

Again, who cares?  “Wowing” the customer is not why you are there. You’re there to help the customer. Plus, more often than not, the person who is out to “wow” the customer with a new toy is many times the same person who doesn’t have clue as to how the toy works.

4. Do use it if you want to show your customer information without leaving them a hard copy.

Having your rate/pricing information on the iPad is a great way to be able to show the client information without having to leave them a hard copy.  In my opinion, this is the best reason to use an iPad. We’ve all had experiences where hard copy information left with a potential client winds up being used as leverage with another sales representative to get a better quote.

5. Don’t use it if the tablet is loaded with a lot of your personal stuff.

There is nothing worse than having your client take control of your iPad and suddenly gaining access to various personal files (including potentially embarrassing information).  If you’re going to use an iPad on sales calls, then use it just for that. Don’t try to use it for both clients and personal work.  Invest the money and buy two. All it takes is one quick swipe of a finger on an iPad and your client can suddenly be looking at your personal tax statements or your latest fantasy league picks.

6. Do remember to have it charged before visiting a client.

Yes, the battery life on an iPad is very good – so good, in fact, that you can easily forget to check the battery level. We can become so used to not looking at the battery life on the unit that we forget to notice how low it is until we walk into the most important sales meeting of the quarter. By then it’s a little too late to charge it, and you certainly don’t want to be scoping the room for an outlet. Awkward.

With the above 6 tips in mind, you are equipped to make a wise decision regarding the use of an iPad in your next meeting.  Just remember that you aren’t going to impress anyone with any gadget – unless you have a valid reason for having it there in the first place.

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.

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Business Ideas Sales & Marketing

3 Crucial Elements Every Money-Making Website MUST Have

I’m about to make your life so much easier.

Putting up a money-making website can be as simple as 1, 2, 3 — just as long as you have these 3 crucial elements in place.

(And, if you don’t have a website, I’m going to share just how easy it can be to get one up TOMORROW. Yes, it really can be that simple — so no more excuses about “I need to get my website finished before I can do X,Y,Z.”)

Let’s get started.

1. Have a place for people to opt-in and download a special free gift from you. This can be as simple as a box located at the upper right-hand corner of the screen.

Why do you want to do this? Because having a list of prospects you can build a relationship with is crucial to your business success. People buy from people they know, like and trust. A website, no matter how extensive, is only going to take you so far. Relationships are built over time and through communication — which is why publishing a regular ezine can be such a great marketing tool.

Now, I want to point something else out — notice how I said “a special free gift” I did NOT say that opt-in box should say “subscribe to my ezine.” No one wants more email — what they DO want is solutions to their problems. If you give them trusted solutions to their problems, they WILL take the time to read your emails.

2. Post a photo of yourself. People want to do business with people. They want to build relationships with people. Why do you think major corporations pay big bucks for spokespeople? Sure part of it is benefiting from the spokesperson’s credibility, but part of it is also putting a face on an otherwise “nameless, faceless” corporation.

Folks, this is where YOU have the upper hand from the corporations. You really CAN reach out and build relationships personally with your ideal clients. So proudly post your photo — you’re a real person, let your ideal clients see you’re a real person.

Now, I’d prefer a professionally shot photo if at all possible. And I would also prefer for all you ladies to get your hair and makeup done (yes, it’s worth it). It really does make a difference to your professional image. However, if you’re going to use that as a reason to not get your site up, then put up the best photo that you have RIGHT NOW.

What if your goal is to build a big business where people would be working with your team or your employees? Should you still put up a photo? Well, that depends on where you’re at in your business development. If you’re just starting out, it is easier to build momentum and get the ball rolling if you put yourself out there. If you’re already established, you probably still do (because, remember, people do want to do business with people) but there will probably be other changes you’ll need to make to your site so it’s clear there’s a team involved and not just you.

Bonus tip — you could use a video instead of a photo. Video is a great way to increase your conversions (i.e. turning prospects into paying customers or encouraging your visitors to give you their email address) but again — if you’re going to use video has an excuse to not more forward, then just get a photo up.

3. Make it VERY clear what the next step should be if they want to move forward working with you. Now, I’m a big believer in getting the opt-in, so if you look on my home page you’ll see I do encourage people to move forward by getting my free gifts. But I also give them very clear instructions on what they should do if they want to move forward as a paying customer.

Now, how do you get started if you don’t have a website? Just put up one page that has your photo, a description of your free gift and a place for people to give you their name and email address. (This is also known as a squeeze page).

That’s it. Yes it really CAN be that simple to get started.

Categories
Sales & Marketing

Go Ahead and Fire Your Customer

Article Contributed by Mark Hunter

We all have at least one – a customer with whom we just don’t like working.  Before you get too excited thinking I’m going to say it’s okay to fire any customer – regardless of the reason – guess again.

What I am talking about are customers we don’t like because after we do everything we do for them, we simply are not making any money from them.  Not making any money off of a customer goes beyond your commission or bonus. It’s the bottom-line profit your company is not making because of the customer. No salesperson is going to intentionally go out and find unprofitable customers, but too often we do end up with a few of these.

We wind up with unprofitable customers not because of the price we’re charging them, but because of the intensity of their demands and requests.  You know what I’m talking about.  It’s the customer who seems to always want one more thing. No matter how good of service you think you’re providing them, they keep asking for something more.

The problem we get into is the more we serve the customer, the more they expect from us.  Each time we help them, they come away thinking of something else they want from us.  These ongoing demands on your time (and the time of other people in your company) are what quickly erode profit – turning a once profitable customer into one that is completely not profitable.

What is even more disturbing is that often this dynamic happens so slowly that we don’t even realize how unprofitable they have become.   This “slow drain” means that it usually gets way out of control before anyone realizes how bad the situation is.

To be able to determine which customers need to be “fired,” you must become more discerning of customers who place too many demands on you and/or other people in your company.  It is absolutely essential you get control, because if a customer becomes high maintenance, there is a great likelihood they will remain high maintenance.

As the salesperson servicing the account, you are often the one in the best position to realize how high maintenance the customer has become.  More than likely, most of the customer’s requests are flowing through you. You then dole these requests out to the respective departments, but collectively all the departments do not see the big picture of everything the customer is demanding.

Once you spot a trend with a customer making multiple service requests, you must begin detailing the cost involved.  A detailed account of what has transpired will help when you and management need to decide how to deal with the customer.

Once you have identified an unprofitable customer, you and your company must decide what is going to be done about the customer.

Too many times, companies roll over and play dead and allow the customer to continue to be high-maintenance.  In the end, the only thing that happens is profit is lost and sales motivation is depleted. You and other people in the company become disenchanted with the amount of support devoted to a customer who never seems to be happy.

If, on the other hand, smarter heads prevail, then you and management will realize something needs to be done to rectify the situation.

There are two options:

  1. Confront the customer. Your objective is to decrease their requests.
  2. Increase their prices. This will offset the additional costs you incur serving the customer.

Personally, I prefer option #2.  The reason is simple. Increasing their price either restores your bottom-line profit or they reject your price increase and leave. Essentially what this option does is allow you to make the profit you need – or it releases you from a customer who is draining your profit.   Either way, you and your company are winners.

This is a much better option than the first choice of confronting the customer. I’ve found that confronting the customer tends to create a level of tension that winds up as long-term friction. Ultimately, no one is happy.

If you raise your prices for those difficult customers, you will gain the profit you need or the customer will walk away. The beautiful part of using this approach to “fire” your customer is that they leave without you ever having to tell them you are firing them.

Profit is good.  Don’t sacrifice it in the name of “good customer service.” Wisdom tells you that the best service is that which satisfies your customer and allows you to make a profit.  Your time is best spent on profitable activities. For more information on implementing a price increase, consider this article section of my website.

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. Reprinting of this article is welcomed as long as the following is included:   Mark Hunter, “The Sales Hunter,” www.TheSalesHunter.com, © 2011

Categories
Sales & Marketing

What Did You Learn From the Last Sale You Lost?

Article Contributed by Mark Hunter

My mom always used to tell me how we learn more in life from our failures than we do from our successes, yet for too many of us in sales this concept doesn’t seem to sink in.

I’ve lost plenty of sales in my life. If I wanted to get really down on myself, all I’d have to do is take a piece of paper and start writing down as many as I could remember.  If I wanted to go into a complete state of despair, all I’d have to do is to write down next to each sale I lost the amount of commission I failed to receive because of the lost sale.

For this simple reason too many of us in sales choose not to dwell on what didn’t happen. Instead, we merely move on.

It’s much easier to move on than dwell on the past, and I’m a firm believer that dwelling on the past doesn’t do anyone any good.  If you want to damage your sales motivation, go right ahead and dwell all you want.

As much as we can’t dwell on the past, we do need to spend a few minutes doing an autopsy on the lost sale and learning from it.  If we don’t learn from each sale we fail to close, then we’re committing ourselves to a pattern of losing more sales.

The key I’ve found to the process is to do the autopsy on the failed sales call right away.   The sooner you can do it, the sooner you can apply what you’ve learned to the next sales call.

The only downside to doing it quickly is you have to make sure you’re in a stable frame of mind.  I’m not meaning to be rude with this comment, but you can’t think clearly if you’re so hot emotionally over losing the sale.  If you are worked up over the lost sale – wait till you calm down. Then do your autopsy.

Ask yourself the following questions:

  • Was I able to get the customer to state their key needs and desired benefits?
  • Why specifically did the customer choose not to buy from me? How do I know that?
  • What were two things I know the customer appreciated about me?
  • What did the customer ask and how did I answer?  What can I learn from the questions?
  • What were all of the customer’s objections and how did I respond to them?
  • Did the customer clearly understand my value proposition?  How do I know that?
  • What closing technique did I try?  How specifically did the customer respond to it?
  • What did the customer agree with me on?  How can I leverage this for future sales?
  • What is my next step with this prospect / customer?

Take the time to answer these questions. Doing so will provide you with key information you need.  Also, never hesitate to go back to the customer after they’ve turned you down and ask them why they didn’t select you.  Be sincere in how you speak to the customer and be appreciative for what they tell you.

This is not the time to be defensive or attempt to convince the customer they’ve made a dumb decision by selecting someone else.  Your ability to be professional and appreciative in listening to what the customer shares with you will do more than anything else to help ensure you have a good relationship going forward with that person.

It’s been my experience both personally and professionally that by doing this process right, you can position yourself to become the salesperson these individuals turn to in the future.

The beautiful thing about this entire process is you come away with two major outcomes.

First, you find out things you can do differently to help you with other customers.  Second, you deepen your relationship with the customer you weren’t able to close, setting yourself up to potentially close with them next time around.

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. Reprinting of this article is welcomed as long as the following is included:   Mark Hunter, “The Sales Hunter,” www.TheSalesHunter.com, © 2011

Categories
Sales & Marketing

What is Your Customer’s Price Tolerance Ratio?

Article Contributed by Mark Hunter

Every customer has a price range where they are willing to make a decision without any further thinking.  I refer to this as the Price Tolerance Ratio – also known as the PTR.

Knowing your customer’s PTR is critical. I believe it is one of the major obstacles salespeople fail to comprehend.   As a salesperson, when you don’t understand a customer’s PTR, at least one of the following results is inevitable:

  • You offer a price that does not maximize the profit potential.
  • You get the order but encounter resistance from the customer that hinders the relationship.
  • You encounter resistance that leads to spending too much time on the selling process and ultimately no order.

Let’s look at each of these individually, starting with the first one where the price offering does not maximize the profit potential.

I start with this one because it is the most common. The salesperson rarely finds out the price is lower than necessary until long after the sales is completed – or worse yet, they never find out.

The only way around this is by asking the customer early in the relationship, before they’ve expressed any intention to buy, how they determine value and what their critical needs are.   Many times, trying to ask these questions during the sales transaction itself is too late, unless the customer is experiencing a significant issue as to why the order must occur.

The reason I say this is because once the customer has determined they need to buy, they many times become focused on seeing what it will take to get a lower price.  If you, the salesperson, ask them a question about value at this point in the sales process, the customer may very well use the question against you.

Take the time to ask the customer why the order is important and what risks they feel they would encounter should they not receive it on time.  Ask them how their order fits into the overall scheme of what they do and what their customers do (if you’re in a B2B environment).

As a salesperson, if you can identify value or risk in other parts of the supply-chain, you can leverage this information during the sales process and increase the amount the customer is willing to pay (essentially widening their PTR).

The key is to find out as much information about the customer as you possibly can early in the sales process.  Also, you need to understand how critical time is to their process. Obviously, the more critical time is to the customer, the wider the customer’s PTR will be. The impact of time could be reflected in how quickly they want to order.

By thoroughly understanding the customer’s PTR, you will be able to effectively price your product and/or service. Pricing too low means you leave profit on the table; pricing too high means you don’t get the order.   There is no magic formula. It comes down to your level of knowledge and your confidence.

The second scenario a salesperson may encounter with regard to PTR is that they get the order, but with resistance that ultimately hinders the relationship.   Resistance is not always a bad thing. I believe strongly that if you don’t encounter some customer resistance from time to time, then you have not truly pushed the process to the point of being able to maximize profit.

When you encounter resistance, you first have to determine if the resistance is real or superficial.  Many times the customer is merely venting as a way to assert their control.

The best way to measure if the resistance is real or superficial is to see if they continue to express their concerns about price on multiple occasions.  If price comes up only once or twice, then you can reasonably assume it is merely the customer venting. You can overlook it and continue with your sales process, knowing your level of service and support is going to overcome any pricing perception.

If the customer does carry on regarding pricing, then the resistance is real and it will slow the sales process. You then can adjust accordingly.

The final reason knowing the PTR is essential is it prevents you from spending too much time with someone who is nothing more than a customer from whom you can’t make any money.

Early in the prospecting and sales process, you must begin determining the customer’s PTR.  The easiest way is by simply asking them what they’ve been paying for services in the past and what their expectations have been for the companies they’ve been using.  If you are not direct with questions like these, you will waste time chasing customers you ultimately do not want.

Price Tolerance Ratio (PTR) is a new concept. I am pleased to be one of the first to educate people on this. Since explaining this concept, we’ve seen salespeople and companies significantly improve their profitability.

If you want to improve your bottom line, begin now to identify the Price Tolerance Ratio (PTR) for each of your customers. Waiting until you close the sale is too late.

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. Reprinting of this article is welcomed as long as the following is included:   Mark Hunter, “The Sales Hunter,” www.TheSalesHunter.com, © 2011