Thoughtful Thursdays - There is nothing like a happy customer, why are they so happy?

Not many people that I know or talk to do not want their customers to be happy. Given the opportunity, happy customers will more than likely buy from you again and refer new business your way. There are numerous reasons to keep your customers happy.

 

Having said that, it seems to be difficult for some businesses to make the experience of buying from them enjoyable. While unavoidable things do happen and it is impossible to keep everyone happy, many poor buying experiences could have been prevented with some forethought.

 

Take yourself for example. Do you have a favourite restaurant you keep going back to? How about a mechanic or dealership you have been dealing with for years. Maybe it is a golf course, or retail store you frequent. I think everyone has their 'own' hair stylist. Make a list of the businesses or people you purchase from on a regular basis. Add to that list the reasons why you patronize them.

• They treat me like they care
• They are always smiling and pleasant
• They are knowledgeable
• I trust them
• They listen and don't try to sell me something I do not want, they make recommendations based on my needs
• They are not pushy
• They are accommodate my schedule where possible
• They make me feel comfortable
• They make so convenient to say yes
• I get a lot for my dollar
• I like them

Now consider your day to day sales interactions with your customers and prospects. Have you forgotten or taken for granted any of the reasons that affect your buying decisions?

Good selling,

Richard

Thoughtful Thursdays - Stay the course

Today's thought goes out to the entrepreneurs in the throws of launching their business ideas. A subject that often comes up in meetings with new business owners is the feeling of being overwhelmed and not being able to get everything on the to do list completed.

There are many good books on the subject of getting things done including the book by that same name by David Allen.

One of the keys to successfully tackling the to do list is scheduling and sticking to that schedule. Every time your schedule changes, there is a chance that some tasks will get moved out. Be mindful of the consequences when you do make changes and accept them. Life happens and delays are often unavoidable.

Something that works for me is to check my schedule every day before I do anything else. Confirming what has been already been planned helps prevent the addition of tasks when there is no time available. Another practice is to resist changing the schedule once it is in place, especially if you are in the middle of doing something that was planned.

These days you can spend a great deal of time processing email. When I receive an email I do one of three things with it.

1. Delete it because it does not concern me
2. Respond immediately
3. If if can wait or something has to be done before responding, schedule the time in my calendar for the necessary work.

Minimizing the number of  messages in your inbox is a one way to help reduce the stressors that can contribute to the feeling of being overwhelmed.

Good selling,
Richard

Thoughtful Thursdays - Value selling, quantifying the benefits

You have examined the features of your products/services and defined the benefits. The thought for today is to take the process one step further and quantify the benefits you have worked so hard to identify.

I have not yet run across a benefit that could not be quantified in dollars. Doing the arithmetic is another way to make it easier for your customer to say yes.

Does your product save time, increase productivity, reduce down time or cost less?

Being able to quantify the benefits requires research and is often a subject does not always come up in the first meeting. You will need to ask your customer questions to correctly convert the benefits to a realistic dollar value.

• If your benefits relate to time saving, hourly costs X the time saved equals a dollar benefit.
• Productivity could mean making more units per hour, thereby reducing costs
• Productivity could also mean reducing time consuming activities, again time X costs of that time equals a dollar benefit
• Downtime is expensive. If your product/service can eliminate down time, the dollar benefit is equal to the cost of down time X the down time eliminated

Take the time to do the research and calculate the dollars that your business will add to your customers bottom line. The sooner you can quantify the benefits, the sooner the sale will close.

Good selling,
Richard

Thoughtful Thursdays - Relevant information adds value

You know that following up with your customers is important. Have you ever found yourself in the situation where you just do not know what to say beyond what you have already said and consequently avoided making the call?

You do not want to be a pest and reiterate what has already been stated and understood, but you do want to stay top of mind with your customer.

Maintaining contact without being a pest can be a challenge. One way to look at the task is to always be mindful of adding value when communicating. Relevant information is valuable and if you become a know source for reliable information it can work in your favour.

Communicate information your customer will be interested in. This could be industry news or information about their target markets. Do not assume they see everything  that is published. One way to source this type of information is to set up a Google alerts that come into your mailbox. Social media is another way to keep your finger on the pulse of an industry. Follow credible tweeters, join and participate in Linkedin groups that have relevance to your business.

This kind of information is often appreciated and will help keep you top of mind with your customer.

Good selling,
Richard

Thoughtful Thiursdays - Back to basics

Today's thought is a simple one, getting back to the basics of sales. Here are a few pointers you may find helpful.

• Dress appropriately
• Know what makes your product/service different
• Prepare for every call
• Arrive a few minutes early
• Bring a great attitude
• Know what you are going to say
• Listen more than you speak
• Thank your customer for their time
• Never conclude your call without knowing when the next contact is going to take place
• Complete your call report and analysis of the call when it is fresh in your mind - do it right after you leave the customer.
• Follow up
• Follow up
• Follow up
• Make your process routine

Good selling,
Richard

Thoughtful Thursdays - How's the bottom line?

Over the years I have witnessed apparently successful businesses exit the market place. Many reasons are given, but in the end, if it was not a planned exit, it came down to insufficient cash resources to run the business.

Today's thought is about maintaining margins as costs continue to rise.

Continued non-response to increasing costs will put the profitability of your business at risk. Small business owners often absorb increases for fear of loosing their customers if they raise prices. If the market is unwilling to accept a price increase, then the business must find a way to reduce their costs.

A thorough examination of operations including mapping of all processes will provide a good indication of where improvements might be implemented, the result being in cost reduction. This should be done on an ongoing basis to keep costs under control. Owner operated businesses are often so busy managing day to day activities, this type of exercise pushed aside.

Do not use the excuse of "We might loose the customer if we raise our prices" to avoid taking the time to accurately nail down your costs, do your homework. Recall how hard you worked to get your customers. Reinforce the value of doing business with you and if a price increase is justified the chances of successfully implementing it will be greatly increased.

Reduced profit margins are every business owner's concern.

Good selling,

Richard

Thoughtful Thursdays - Learn from the people you buy from

I would be willing to bet you have a list of product or service providers you prefer to do business with.

Maybe it is the favourite restaurant you frequent and no matter hwo many times you read the menu, you end up ordering "the usual". Your server may already know you and ask if you if want "the usual".

It could also the service station you have to drive a bit further to get to now, but you always go there when your car is in need of service.

How about the hair stylist you have followed from salon to salon over the years?

The list goes on...

Today, think about why you continue to take your business to these businesses and list the reasons. Review the list and ask yourself if your customers feel the same way about you.
You can learn a lot from the people you buy from.

Good selling,
Richard