Thoughtful Thursdays - Establishing Value

I have yet to come across a marketing text that states in one from or another that a unique selling proposition (USP) or value statement is not key to establishing a successful business.

Businesses work hard to develop USP's, yet many new ventures find it difficult to make sales. Self-doubt starts to set in and before you can snap your fingers prices start to drop. So what happened to the added value.

One thing for sure is that if you do not believe in your USP, you will have a difficult time convincing anyone else to believe it.

In my experience the value statements are correct, it is for other reasons the USP is compromised in the sales process. These reasons can include:

• Being too anxious to make the sale
• Failing to clearly communicate the USP
• Incorrect positioning of the product or service
• Not understanding the buying process or sales cycle and making unecessary concessions
• Caving to the prospects price objections without confirming the situation
• Not sticking to the plan
• Fear of losing the sale

Before making a sales decision you may regret in the future, ask yourself why you are doing it and think about the consequences of that decision. There are situations where you may find it strategically beneficial to make concessions. What ever the situation, you must be sure the customer recognizes the value of the concessions and that you get something of equal value in return. Use your sales and negotiating skills to make it the "win-win" situation you hear about all the time.

Good selling.
Richard

Thoughtful Thursdays - Please like me

This series of posts is all about closing a sale faster. Not being mindful of the topics on the list absolutely does not mean you will not make the sale - It may just take longer.

Things That Can Lengthen Your Sales Cycle - Fear of rejection

We have come to the last point on the list of things that can lengthen your sales cycle and it brings us full circle to the first posting in this series, Fear of cold calling, where I touched briefly on the fear of rejection.

If fear of rejection is holding one back from initiating the sales cycle with a prospect, the sale may never be made.

It is easy to say not to take an objection personally, but one must accept it. Fear of rejection is a common barrier for people who are new to the job of sales. It is unrealistic to have the expectation that everyone you talk to will buy from you.

One way to help mitigate this fear is to prepare for your calls in advance. Set reasonable objectives for each call you plan to make. Know the reason you are calling and practice your approach with a colleague.

Don't let yourself get in the way of doing what you need to do by making up negative answers to justify why you do not have to make the call. Here are the most common excuses I have heard:

• I didn't want to bother them
• They probably won't be in anyway
• They won't be interested

The bottom line: If you do not make the calls, you can not expect to make the sales.

Instead of excuses, have reasons to make the call.

• Know your value proposition
• Be passionate about your product/service
• Stop 'selling' and start helping

Good selling,
Richard

Thoughtful Thursdays - Most people are not mind readers

This series of posts is all about closing a sale faster. Not being mindful of the topics on the list absolutely does not mean you will not make the sale. It might just take longer.

Things That Can Lengthen Your Sales Cycle - Failing to ask for referrals

Asking for referrals may not directly shorten your sales cycle, but is sure can help to close sales faster and accelerate the achievement of your sales forecasts.

It is clear that as your prospect list grows, so will the number of customers you have. It makes business sense to take advantage of every opportunity you have to grow your prospect database. Is there any better starting point to ask for help than your current happy customers?

When you are networking, you make a point of telling the people you meet what you are looking for; you do this because you can not assume they will know intuitively. To a great degree the same is true when seeking referrals. Do not assume that your customers will make the referrals. Many businesses have developed programs to encourage customers to make referrals. Just last week I received a business thank you card in the mail and the final sentence concluded with ...and of course any referrals would be greatly appreciated.

Most people like to help and will, if you ask politely.

Good selling,
Richard

Expanding your professional network to help your business grow

Click here to view the latest TD Canada Trust webinar: Expanding your professional network to help your business grow. The featured guest is Sheryll Reid, Business Advisor at Toronto Business Development Centre.

Thoughtful Thursdays - "Thank you for seeing me today."

This series of posts is all about closing a sale faster. Not being mindful of the topics on the list absolutely does not mean you will not make the sale - It may just take longer.

Things That Can Lengthen Your Sales Cycle - Making a poor first impression.

Some of the previous posts in this series make reference to the thought for today and can affect that all important first impression:

Not believing in the product/service you are selling
Inadequate research
Not Listening




If one uses the 'shoe on the other foot model', think about situations where you have been turned off by less than positive first impressions and list the behaviours or circumstances that can leave you with thinking that way.

Also think about how much time it may take for that bad first impression to be turned around.

Often it is what one takes for granted that can end up being the biggest obstacle to overcome. The lesson here is not to take anything for granted.

Lets start a list of what to keep in mind with the goal of making a good first impression.

• Be yourself and only yourself
• Arrive early
• Check yourself the mirror before you leave home - everything clean and tidy?
• No chewing gum
• Prepare for your meeting in advance
• LISTEN
• Be happy
• Pen and notebook
• Know the name of the person/people you are meeting
• Have appropriate brochures/technical data/portfolio
• A firm handshake

My father always told me to make sure my shoes were clean and polished, that came from his days in the army. It's odd how some things stick in your mind.

Good selling,
Richard