Sunday, November 25, 2012

How can you take a commodity and turn it into a vital requirement for your client?




Exceptional Sales Performance

Monday Motivational Minute

How can you take a commodity and turn it into a vital requirement for your client?


November 26th 2012
By Gregory Ferrett

“How can you take a commodity item and turn it into something critical to your clients' business?” is one of the most common questions I am asked.

To date I have never come across a product or service which can not be linked to something of value - even common things.It just takes a little effort and planning.

Here is an example of how disposable nappies and rubber gloves, in a mature market, turned two businesses into industry powerhouses.


Disposable Nappies / diapers


The first question territory reps of this company were always asked was "What is your best price". They were in a tight competitive aged care market where every dollar counted. The business was going nowhere fast.

With a bit of effort and market research they discovered one of the more significant costs an aged care facility has was laundry.

With a bit of smart thinking they were able to demonstrate by using their incontinence pads laundry costs were reduced significantly due to leakage reduction.

Instead of calling the purchasing manager they were now able to call the CFO and ask this question “If I could show you a way to reduce your laundry costs by 22% would that be something of interest?” The answer was always “How?” and of course the appointment was made.


Rubber Gloves

(Reported in ‘The Age’ – Monday April 15th 2002)

Ansell moved its stake in Ford’s occupational glove business form 25% to 100%, a deal that it sees as a template for future company arrangements.

The Ford contract is worth close to $20 million a year, and is an example of Ansell’s approach to large customers, in which it will enter a contract to assume responsibility for protecting the hands of it’s customer’s workers.

While Ansell has really interesting technology (knitted Kevlar gloves coated with a nitrile polymer) technology alone would never maintain a long term competitive business advantage and they would have easily been caught up by competitors.

Ford used to spend $20 million a year on gloves, however they also had medical costs of $40 million a year for hand injuries. With the use of the new gloves and a partnership with Ansell for ongoing development in the first full six months there was a 50% reduction in injuries.

Ansell were able to link a commodity produuct to a critical business issue and demonstrate the value of working with them alone.

Today's Questions and Actions


Here are some questions and actions to help you uncover how important your product or service might be to your client.
  1. Ask yourself ,and others involved with your clients business, what the challenges they face? List the top few and keep going until you have twenty or more. Be creative and think about the issues their competitors face as well as they are likely to have the same challenges.
  2. What is the press saying about their industry?
  3. What are the opportunities opening up?
For each item list two or three ways your product or service makes it easier to deal with the challenge. From this list you should have at least one, if not more, compelling reasons why a client should talk to you and not just ask for a price.
Have a great week.

Exceptional Sales Performance



Reprint permission
Permission is granted to reprint this article with the condition it is republished unedited and in full with full attribution to the author and the authors bio. Please provide a link to the reprint to the following email; greg.ferrett@exceptionalsales.com.au




Selling to the Seven Emotional Buying Styles

Discover how to link your product to buyers emotion. In this very practical book you will learn everyday tools to take advantage of proven scientific evidence linking emotion to every decision. You will meet;
  • the Hustler
  • the Artist
  • the Normal
  • the Engineer
  • the Politician
  • the Mover, and
  • the Double Checker
This is one book you will refer to time and again to help you plan sales calls and to close sales.

Buy your Kindle or Hard Copy version here
 

Sunday, November 18, 2012

How can you generate curiosity and keep your clients engaged




Exceptional Sales Performance

Monday Motivational Minute

How can you generate curiosity and keep your clients engaged?




November 19th 2012
By Gregory Ferrett

Welcome to Monday

An account manager, during a review of his sales performance and knowing his numbers were down, said, by way of excuse to his manager said, “Richard, I can lead a horse to water, but I can’t make them drink.”

Make them drink?” Richard retorted. “Making customers drink is not your job. Your job is to make them thirsty! When they are thirsty they will drink.”





The most common challenge business and sales people face is coming to an understanding that selling is not something we do that makes a sale occur – it is something the client does. At some point in the sales process the client decides what it is we are selling will satisfy a need and quench their thirst.

So the question is, “how do you create the thirst?”

Curiosity!

There are four main strategies we can use to create curiosity – and to remain curious through the sales process.


1. Be provocative with questions and statements


 

Provocative questions and statements are the most powerful ways to generate curiosity.

When you make that first call what can we say that is provocative, bold and will shake your client out of their current mind set and pay full attention to you?

You may want to try something like this;

Hi Ben, this is Greg from Acme Jones Associates. I have a question. I was reading about your company …. and was wondering if you had ever thought…?”

Or perhaps

Hi Mary, this is Jenny from Acme Jones Associates. I was talking to Merna Balwin of Main Main & Main and wondering if you have experienced the same market challenges as they do?”


2. Provide some of the information


Another challenge business and sales people face is the urge to tell someone everything straight away. I call this ‘showing up and throwing up’. Once there is nothing let to give what value is there in a follow-up call? The key to building and maintaining a long term relationship is to continue adding value with each conversation. If you leave the client curious after the end of each call there is always a reason to call back or to schedule another meeting. Try things like these;

Hi Mary, we met with Mohammed and ran those tests on the production line over the past few days and I think there may be some serious problems.”

Or

We have evaluated the supply chain process and compared it to the industry norms in you market sector and found some anomalies.”

These statements tell a part of the information and are designed to stimulate curiosity. A typical response would be “What kind of problem?” or “What sort of anomalies?”

Of course we do not want to tell them all so we move into something like the following;

Yes – I will get to that. Would you mind if I ask a few questions first?” and move into a conversation with the full attention of the client. Of course we need to share some of the information – but always leave something on the table to come back with.


3. Provide a glimpse of value


In this technique we dangle an idea that could deliver value and then move to start a conversation. It could go something like this;

Well, John, with just one small change to the manufacturing process you could dramatically improve your return on investment. Would you like me to show you how?”

The response “Sure – what do I need to do?”

Before I launch into that do you mind if I ask you a few questions?” and the conversation is on its way…


4. Are they a part of the herd


If everyone else is moving in the same direction most people want to know what direction that is. This is classic ‘herd mentality’. Try something like this;

Well, Mr Jones, we solve a very important problem that most of the companies in your industry have.”

Almost without fail the response is “What problem is that?”



Today’s questions & action

Curiosity is a powerful tool to get conversations started. Here are some ideas to get you started.
  1. What are the most unusual applications for your service or product?
  2. Call your best clients and ask them the question “What is it that keeps you buying from me / us?” or “What are the key problems / issues our product solves for you?”
  3. Turn the question around and ask yourself “If I were being called about my product or service what would the person need to say to grab my attention?”
Use the answers to these questions to create conversation starters. Develop the habit of creating curiosity and you will always have a valid reason to call on your clients.
 

Have a great week.
Exceptional Sales Performance

Reprint permission
Permission is granted to reprint this article with the condition it is republished unedited and in full with full attribution to the author and the authors bio. Please provide a link to the reprint to the following email; greg.ferrett@exceptionalsales.com.au







Selling to the Seven Emotional Buying Styles

Discover how to link your product to buyers emotion. In this very practical book you will learn everyday tools to take advantage of proven scientific evidence linking emotion to every decision. You will meet;
  • the Hustler
  • the Artist
  • the Normal
  • the Engineer
  • the Politician
  • the Mover, and
  • the Double Checker
This is one book you will refer to time and again to help you plan sales calls and to close sales.

Buy your Kindle or Hard Copy version here
 

Sunday, November 11, 2012

How can you uncover hidden need all the time?





Exceptional Sales Performance

Monday Motivational Minute

How can you uncover hidden need all the time?



November 12th 2012
By Gregory Ferrett

Welcome to Monday

A recent study showed that 75% to 80% of customers purchased only what they initially set out to buy. What if there was a really simple way to uncover a customers hidden additional need? and you could use this to help you customer uncover their need themselves?

Jewellery Store
My watch kept stopping. I assumed the battery needed replacing so I walked into one of the best-known jewellers in Australia to get a battery fitted. I handed my watch over to the sales assistant and asked them to replace the battery.
 
I am sorry,” the assistant said “but we do not sell this brand, so we can’t put in a new battery.”

I was stunned! I reminded the assistant that this was where I had purchased batteries before.

Well, this watch is waterproof, and we can not guarantee it will still be waterproof after we open it

This assistant was really annoying and definitely trying to avoid making a sale. I needed a battery so I persisted with one more attempt.

I know you can not guarantee the waterproofing, you said that when you replaced the battery here last time.”

“I am sorry, but we probably do not have the battery in stock …”

I was angry. I stormed out and went to the jewellers a few shops down and handed over my watch.

No problems, let me have a look,” the assistant said.

After a few moments, the jeweller came out with a battery tester and showed me the battery was fine. We discussed what the problems might have been with the watch that stopped it working from time to time. He asked a few questions and ...

Guess who purchased a brand new watch! (They had uncovered my hidden need)

This sales assistant had;
 
  • Established rapport
  • Differentiated themselves from their competitor, and
  • Helped me discover I needed a new watch.

But what had they done differently?

They had listened and established rapport by taking an interest, engaging my emotional buying style, asked questions and listened. In just a few minutes they had me agreeing I needed a new watch and were on the way to closing the opportunity.

The first jeweller was only interested in selling something in their catalogue. The second jeweller took the time to test the battery (no cost), and then asked some simple questions (also no cost). I felt like they cared for me and I trusted them. They helped me discover I needed a new watch, so when I had a look at a couple of options, and listened to their recommendation, I acted on it.

Chip Bell said "Effective questioning brings insight, which fuels curiosity, which cultivates wisdom." Effective questioning helps your customer uncover their own need. By helping your customer uncover their own need you also create a powerful emotional reaction and driver for action.

Industrial Example

Say you sell industrial heating elements and call to find out if a manufacturing company is interested in using your product. Rather than asking when they plan to buy more (you just know you will have the lowest price!) ask something like “How often do you change the heating elements in your gas turbine?

This simple question tells you if there is a problem with the life expectancy of current heating elements. You know one key feature of your product is its long life and by planning this question in advance you will also have the follow-up questions ready to help your customer discover they need your product. With this small piece of information you can ask for an appointment to show them how you helped another company reduce the number plant shutdowns by using your heating elements.

Of course, by the time this meeting is done your prospect has 'discovered' they have an unrecognised need for long life heating elements and the lowest price is no longer an issue!

Today’s question & action

Take your product or service and ask yourself "what problems could my product solve?"

Be creative and outrageous. Don't stop until you have a full page of ideas. Do this with a colleague or ask someone to help if you get stuck.

Distill this down to a list of five key problems.

For each problem create a question designed to help your prospect discover hidden problems.

Try these question with everyone you visit this week. You will be surprised how many new opportunities you prospects will reveal to you even they did not know existed.
Have a great week.
Exceptional Sales Performance

Reprint permission
Permission is granted to reprint this article with the condition it is republished unedited and in full with full attribution to the author and the authors bio. Please provide a link to the reprint to the following email; greg.ferrett@exceptionalsales.com.au




Selling to the Seven Emotional Buying Styles

Discover how to link your product to buyers emotion. In this very practical book you will learn everyday tools to take advantage of proven scientific evidence linking emotion to every decision. You will meet;
  • the Hustler
  • the Artist
  • the Normal
  • the Engineer
  • the Politician
  • the Mover, and
  • the Double Checker
This is one book you will refer to time and again to help you plan sales calls and to close sales.

Buy your Kindle or Hard Copy version here
 

Sunday, November 4, 2012

Are you making room for success?





Exceptional Sales Performance

Monday Motivational Minute

Are you making room for success?




November 5th 2012
By Gregory Ferrett

Welcome to Monday

It is 2AM and I can't sleep. My mind is racing with ideas! Why is it the best ideas come in the middle of the night? 

Every night I spend time writing my ‘six pack’ so I can get stuck into my day the moment I wake up. I start about 7 and before I know it 5PM rolls around. Where has the day gone? The vital tasks that will drive my success and maintain my health are still not done ... yet I feel productive. 

Here is an important lesson. When we allow our lives to be crowed with 'things to do' time flies. When we let things go, like in the middle of the night, important things come to the surface. Things which will drive our success.

Success comes when you decide what it is you can let go and create the space to do what is important – the learning, the relationships, health breaks and sales calls.


At 2AM there is nothing else happening to crowd your mind.

Think about your life. What could you choose to let go of today? What could you add to your day to make success that step closer?
  • Make an appointment with yourself for a short stop at a book store or walk around the lake
  • Have lunch with a friend that makes you laugh so much your serotonin levels rise 
  • Write that chapter in your book or your Blog
  • Sort out that cluttered office ... and cluttered mind

You see, Success needs space  and you are the only one who can control your cluttered day.


Today’s question & action

What are you willing to let go of today? 
  • Select one thing you can let go and delete it from your life
  • Select one thing to help you move towards your goals and make it happen first each day

Observe what happens as you introduce these changes and add or delete things to help move you to towards success.

Have a great week.
 
Exceptional Sales Performance

Reprint permission
Permission is granted to reprint this article with the condition it is republished unedited and in full with full attribution to the author and the authors bio. Please provide a link to the reprint to the following email; greg.ferrett@exceptionalsales.com.au






Selling to the Seven Emotional Buying Styles

Discover how to link your product to buyers emotion. In this very practical book you will learn everyday tools to take advantage of proven scientific evidence linking emotion to every decision. You will meet;
  • the Hustler
  • the Artist
  • the Normal
  • the Engineer
  • the Politician
  • the Mover, and
  • the Double Checker
This is one book you will refer to time and again to help you plan sales calls and to close sales.

Buy your Kindle or Hard Copy version here