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Classic Sales Tips by Earl Nightingale & Fred Herman

The following are my notes from Selling Techniques that really work by Early Nightingale and Fred Herman

Topic: Dealing with Objections

  • Work through and kept control
  • Do not want to sell him – you want him to buy
  • Who should be answering the questions
  • Objections is to customer’s request to help him to buy the product/service
  • Cushion the objection -> recognize the objection -> get back to selling
  • Objection – the most powerful thing to build a relationship with client because he is telling you what you need to do to get his business
  • Never fear objections, welcome them because they are your opportunity to build a meaningful relationship
  • Two types objections – one that can be answered and the second that can’t be ans
  • For the answerable objectives there are two types: state and unstated
  • 5 major objections:
    • Trivial objections
    • Heresay
    • Genuine objection
    • Prejudice
    • Put off
  • Exploring the reverse – why you need your product or service
  • One way to handle is to ask “why?” in a polite way
  • Ask questions of your customer to set the condition for when he would buy your product
  • Compare your experience to the 5 major objections
  • Create 6 magic questions that will help you overcome objections
  • List top 5 objections I hear during the sale
    • Write out
    • Role play it into a recorder
  • Use 2 ideas every day for 7 days
  • Record your progress

Topic: What is customer really buying?

Buying a mental picture of the future that helps your customer fulfill a dream of pleasure, enjoyment, or benefit
Finding dominate buying motives:
-Who is going to use the product/service?
-How will it be used?
Restate customer’s need or an objective -> provide a solution that your product/service provides -> paint a picture of customer will happy fulfillment of that need or objective
Possible Dream – Desired State

  • Definition of imagination – mental picture build by concrete language using all of the senses
  • Selling is ability to getting a mental image and planting it in the mind of your customer
  • Customers buy because they want it – they imagined it
  • Emotion and motivation is the same thing
  • “Do not sell the steak; sell the sizzle”
  • To sell service -> need to get the motivation so the customer can use his imagination
  • Any sales person can be 25% better if he can decide
  • To be persuasive, you need to have a vivid imagination
  • Sellsperson job is to keep positive input in the customer’s mind in terms of what your product/service will do
  • We see, think, smell, hear in pictures
  • We live our lives in terms of pictures
  • Desire step in sales – you are not talking about the product, you are talking about the customer using the product for his enjoyment
  • People do not buy logically, they buy emotionally – ask your customer how do you feel about this? People do only for one reason – because they want it to do it (even the crazy)
  • Salesperson helps people to have dreams and help them to get those dreams
  • Your clients will get negative thoughts. It is your job to eliminate them and play to the positive
  • People buy pictures of the end result of your product/service
    • Who is going to use the product/service?
    • How will it be used?
  • What is it for me?
    • Romanticize the product
    • Make the customer look good in front of the people that are important to him
    • Take the product -> picture end result -> make them feel good
  • Exercise: create recording of your vivid word pictures

Topic: Showmanship
Using a striking exhibit
Doing something different
Getting Action
Getting a challenge or contest
Getting a prospect into an act
Competitive advantage: if your prospect remembers your story

No one will ever object if you say in a few words

  • Showmanship defined as doing something dramatic
  • Getting a prospect into an act
    • Stopping a person on a daily commute to try shaving
  • Striking exhibit
    • Vivid display
    • How things work
    • Establish a point of believability
  • Move around during presentation a moving target is harder to hit
  • A good product does not need arguments – it needs demonstration
  • Two was to get showmanship with intangible product/service: visual analogies (figure out the benefit that you want to demonstrate) or find a stunt that will illustrate it
  • To get into big money, you need to put on a good show

Topic: Answering Customer’s “What is it for me?”

Selling with Benefits
Features and benefits
Facts never sold anyone – only benefits on how the customer will benefit from your product or service
You can’t sell when you are talking about your product/service without translating into customer’s benefit
Facts are only claims until your customer has proof
Make benefit specific to the customer

  • Spent too much about how good the product is while we need to get involved in what will it do for the customer
  • Why people buy anything? It will do something – it will be of benefit
  • It does not matter what/how you say it matter what the customer believes and understands
  • Customer will not automatically attach a benefit to a feature
  • All customer have three questions about any product/service
    • What is it? (features of product/service; what is build into that it is making it to perform)
    • What does it do? (product benefit)
    • What does mean for the customer?
  • Exercise: take each product feature and breakdown using the above questions
  • What is a fact? It is the truth
  • What is claim? Something out to accept it but needs to supported by some form of evidence
  • What is proof? Enough evidence to substantiate something beyond doubt; it is personal (sometimes take more or sometime less)
  • Generality – (ex: “it is a great product”, “best one in the market”, “wonderful value”)
    • Do not have much value
    • Can detract from believability
  • Specific – exact precise
    • Difficult to be specific
    • Pictorial explanation
  • If customer does not understand the customer will not buy
  • So many facts about your product/service we take it as “fact” but to customer it is “claim”

Evidence to Build Believability

Nail down technique
Move the customer beyond reasonable doubt
Units of conviction consist of feature, benefit to the customer, evidence to support the benefits, and a nail down to make sure of your progress

  • Need materials to build believability
    • Demonstration – action involved
    • Exhibit – show something
    • Facts and statistics – charts graph, brochures, customers writing benefits
    • Example – salesperson talks about satisfied customer
    • Testimonial – satisfied customer
    • Expert testimonial – expert uses
    • Analogy
  • Nail down – a process where customer agrees to what you say said so far makes sense to him and he has been able to follow you
    • Restate your benefit and put a question at the end of it
  • We are trying to prove not the product feature but the customer’s benefit
  • When salesperson says about Customer’s benefits in customer’s mind it is just a claim
  • Difference between appreciation and conviction about your business
  • Nail down for your customer’s benefit when using the evidence
  • Proof is a personal thing – more for one customer and less for another
  • Anything that can be misunderstood will be misunderstood

Salesperson Call Is an Interruption to the Prospect

Job of a sales to stop the prospect from thinking of what he is thinking and start thinking about the salesperson’s product
Success Formula
Earn the right to present
Never assume your prospect is interested

  • Salesperson needs to help prospect to start thinking about the product. Get the attention:
    • Sample or gift
    • Use a referral
    • Pay a compliment – compliment the person’s action not his being
    • Exhibit – get something on the customer’s hand (brochures, presentations)
      • If you get a good attention getting, the sales will go a lot faster
    • Service approach –
      • When handling complaint and it is completed satisfactory, always ask immediately to buy something
    • Ask a question
        • Forces a person to think about
        • I came here to ask you only one question… ß that is a question
          • If says no, ask why not?
        • Earn the right to make a sales presentation
          • Product knowledge
          • Can solve a problem
          • Added Value
        • Salesperson sells three things: his product/service, his company, and himself

      Added value of salesperson

            • Empathy
            • Apperance
            • Ethics
            • Experience
            • Curtesy

      Interest Bridge – customer will say “tell me more?” – I better listen

              • Attention span is tiny
              • One reason anyone will listen to a salesperson if they get some benefit
              • Adds have attention steps but few interest steps
              • What do I sell? Final result – what the customer gets
              • People buy to get something or to avoid something
              • Empathy brings interest bridge
              • Empathy – understand how you fee
              • Sympathy – feel how you feel

          Finding Prospects Needs, Wants Before Offering Solution
          Create a health dissatisfaction with status quo
          Shortest distance to the sale – asking questions
          No problem means No Sale
          Questions break the indifference barrier – questions are the only path to meaningful feedback

          • Asking question prevents the salesperson from talking himself out of a sale
            • Getting appointment
            • Getting needs and wants and objectives
            • Getting a solution
            • Getting a commitment
          • If you are using asking as a technique, you should know the answers you want
            • If you know the answer, you can get a line of questions
          • Make it as easy as possible for the other to answer
          • “I never sold anyone anything. I sure helped a lot of people to buy”
          • Ask questions that the customer would have to ask anyway to buy
          • Types of questions
            • Close – yes or no answer
              • No feedback
              • Use it to close a sale
            • Open question
              • Starts with who, when, where, what, how, and why
            • Reflective question
              • Sometimes customer answer in a way that does not make sense
              • Just reflect back his response
            • Directive questions
              • Directive to the points that we agree on
              • “We can agree that….”
            • Underneath all of the questions, the customer is asking “what is it for me?”
            • Need to ask questions with answers that is useful to the salesperson
            • Process:
              • Ask Permission
              • Presented primary interest
              • Ask him to select one
              • Suppose primary interest – double check to make sure it is their primary interest
              • Establish his need
              • Get his motivational feel
              • Get financial commitment

              Use the Phone
              Fear barrier overcoming
              Sell appointment
              How to avoid the death pause

              • Worst thing that can happen on the phone
                • Hung up
                • Swear
                • Insult me
              • Good can happen
              • Get sale
              • Get a date
              • Get a referral
              • Make some money
              • Save money
              • Get experience
              • Build confidence
              • Right attitude:
                • Think of the reward
                • Force myself to make 5 calls – break the ice
                • Expect to fail
              • Breaking ice – 10 words that will set you call right: mention the person 3x + say please 1x + thank you 1x
              • “it is going to take about a minute to tell you why I am calling, is it convenient to talk now?”
              • Say your company name first then your own name
              • No need to be afraid of the other person; your product is good – you are committed to his success = you are doing a friendly act
              • After you answered the resistance immediately ask for an appointment

              Topic: Sales Person Is Unemployed Every Morning That They Weak Up

              Preparation of meaningful list

              • Suspecting vs Prospecting
              • Advertising
              • Radio
              • Magazine
              • Trade shows
            • Referrals
            • Suspecting – just getting names together
            • Prospecting – getting information to decide whether they will need the solution you are offering
              • Important to get information why?
                • Talk intelligently
                • Have a checklist to know before the call
                  • Prospect himself
                  • Secretary
                  • Trade organization
                  • Other salesperson
                  • Customer’s company
                  • Finding their needs or wants
                  • Who is the buying authority
                • Reasons for
                  • Better use of time
                  • Being real professionals
                  • Self satisfaction
                  • Build up momentum
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Uncategorized

Overview of The Ultimate Marketing Plan by Dan Kennedy

Marketing Goal: Getting the right message to the right people via the right media and methods – effectively, efficiently, and profitably. It is about motivating people to action, often into doing something they would not do purely of their own initiative. They moved because of your “irresistible offer!” or an impulse or an itch they can’t scratch.  The message lives in the story you tell to the customer about what you do and why you do it. The beating heart of that message is your Unique Selling Proposition(s).

 

Dan Kennedy (DK) points out that comparative costs of marketing do not play a big role in determining desirable outcomes. He argues the “comparative return on investment translated into net profit that matters”.

 

Here are his key questions to overview your marketing:

  1. Is your marketing built around the most powerful, persuasive, intriguing, compelling, fascinating message possible?
  2. Have you determined precisely who your message should be for and figured out how to put it in front of them – quite possible at exclusion of all others or at least with disregard for all others?
  3. Are you wisely investing in the most appropriate media for delivery of your message to the prospects in your chosen target market?
  4. Are you both effective and efficient?
  5. Are you accurately measuring the true, net return on investment from each marketing investment?

 

Key point he makes because of the answers to the above question is never static, marketing is the place where the business owner needs to micromanage.

 

 

Right Message

Cavett Robert: “Don’t be in too much of a hurry to promote, until you get good. Otherwise you just speed up the rate at which the world finds out you’re no good.”

 

In today’s hypermarket a truly great marketing message is even more important than “at any time in [Dan Kennedy’s] thirty-five years in marketing”. The first step is get a message that truthfully shows prospective and actual customer’s experience using the company’s good/service.

 

Survey

Just like general surveys the battle field, his resources, and opponent’s potentials before giving orders, the marketer also needs to conduct a thorough survey of “all you are up against – everyone else of significance who may be presenting their messages to your targeted consumer”.

 

How do conduct a survey?

  1. Write down each promise, feature, benefit, and statement of your competitors
  2. Keep surveying the ads, if you find same statements, mark it next to it to see the frequency of use
  3. For new statements, add to the list, and see how often it is used in ads
  4. On 3 x 5 cards,
    1. Write out every fact, feature, benefit, promise, offer component, idea of your business and your competitors
    2. Prioritize based on “probable importance to your customer and their contribution to differentiating you from your competitors”

 

You will naturally discover the key to marketing success – message that differentiates you from all your competitors as it is expressed in your Unique Selling Proposition (USP). DK’s definition of USP “is a way of explaining your position against your competition and against all other choices, actual or imagined”.  All great businesses (of age gone by or today) use extensively USP. Your USP may express the theme of you business, product, or service; it can be based on any marketing concepts 4Ps, 4As, Blue Ocean Strategic Factors. There are great example in the book that I highly recommend you to read.

 

My favorite exercise – Becoming USP-sensitive: for every business you come across ask

  1. Does this business have a USP?
  2. If not, can I think of one for it?
  3. If yes, is there a way I can think of improve it?
  4. Is there any idea here I can borrow for my use?

 

Some key to successful USP of product/service benefit:

  • Meaningful specific
  • Precise
  • Customer reacts, “Hey, that’s for ME!”
  • Moves the person toward purchase quickly and decisively (URGENT, LIMITED TIME/OFFER)
  • Making your product/service price elastic
  • [The most important part I can’t show because of copyright protection – BUT please DO read it in the book; it is the simple but amazingly effective part on page 10]

(Boosting above points are your company’s values; think of McDonald’s consistency or Amazon’s availability of items)

 

Lastly, DK says that any marketer who wants to truly be at the top of his career needs to have a Magnificent Purpose or personal success philosophy. That purpose or philosophy needs to be connected with your marketing.

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Sales Success Part I by Dan Kennedy

The aim of the Dan Kennedy (DK) and his book, “No BS Sales Success In The New Economy” (all references in this blog are to this book, unless otherwise noted), is to create a new willingness in a sales professional to change behavior and process. The change is measured by immediate and dramatic increase in the income. However, income growth is not how he defines sales success.

DK defined sales success as:

“…both in physical actions and words…the salesperson is representing something of value to the client – so much value that the client is willing to exchange their security (spelled M-O-N-E-Y) for it”.

The rest of the book outlines ideas and actions that can lead a sales person to that success. Key ideas to take away from DK’s definition:

  1. Salesperson job has only two elements: Actions & Words
  2. Value is the only thing that clients need to see; value has two perspectives – one for client and one for salesperson
  3. Value for customer is defined by willingness on the client to change their feeling of security (ie current way of doing things) for a new way; Value for salesperson is to be the embodiment of security
  4. Value for client needs to be above what s/he expect; therefore, the client’s value expectations need to be managed by the sales professional
  5. Taking all of the above into consideration, salesperson’s “one thing” (from the book The One Thing) is to manage client’s willingness to exchange their security for something new

(Although not covered in the above quote, DK does mention that exchange comes from profitability and pleasurable assurances)

DK also provided the definition for sales failure. It surprised me because it does not mention monetary gains but includes personal traits. The characteristics include (how many apply to you?):

  • “who coast”
  • “intellectual lazy”
  • “perform half-heartedly”
  • “expect high rewards for low efforts”
  • blaming anyone but yourself for unsatisfactory results

Measuring Action & Words

There is a simple yet effective question which can be asked to measure the impact of salesperson’s actions and words – “is the result satisfactory or unsatisfactory?” Clearly, the path of change lays in an unsatisfactory result. Prevailing winds will always exist. The condition of any sales is that there are forces acting upon the sales professional outside of their control. The only powerful way to get to high levels of achievement is by removing the unsatisfactory obstacles placed by the salesperson themselves.

DK has a great opening chapter that I highly recommend for anyone to read. In its essence, he outlines that any “NO” is not a rejection because sales is almost never personal and therefore does not injure egos. DK argues there is no need to be personally concerned with what the customer says or thinks about the product as long as the client is buying it and is using/selling much for it. In my experience, I have worked with teams that simply did not like a vendor’s representative. They found any opportunity to remind that representative of how poor their services are – yet, the same team kept renewing the vendor’s contract every year for decades. As a philosopher once quipped, judge people not by their thinking but by their action – so is with sales. DK implores any sales professional to give little weight to what people think and give all their attention to what people buy.

There is no “NO”: Kennedy’s 8 Steps to Getting Past “No”

  1. Determine that you are going to exert control over the situation and the other people involved
  2. Determine that you can and will get positive results even in negative situations
  3. Get your ego out of the way
  4. Do not confuse refusal with rejection
  5. Be more interested in achieving positive results than in anything else
  6. Understand that most no’s are erroneous
  7. Ignore the “erroneous no”. Keep making your case. Keep probing for the real reason for reluctance or refusal. Acknowledge (admit the exist of reluctance or refusal) not never accept (as a final outcome)
  8. Respond only to real reasons. Do not get caught up in responding to “erroneous no’s” – that is like wrestling with a phantom

 

 

 

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Analytics, Dictionary

Dictionary of Marketing Questions

Creating Content for Your Marketing Funnel

funnel and attributed marketing behavior

For each stage of the funnel, you’ll need to answer the following questions:

  • How will customers at this stage find me?
  • What kind of information do I need to provide to help them move from one stage to the next?
  • How will I know if they have moved from one stage to another?

Click to Learn More

In Awareness stage, keeping track of lead* analysis metrics (include program investment, percent of new names, total successes, total targets, investment per target, and average demographic score), answer the following three questions:

  1. Which programs bring in targets or leads most cost-effectively?
  2. Where are we exhausting our lists?
  3. Which programs are bringing in the highly qualified leads?

*”lead” in this context means “leading” as in “leading or lagging indicators” and not “lead”as in “lead nurturing”


Customer Response Models

  • Are you assessing customer response models for statistical as well as business validity?
  • Are you applying ““haircut method”?
    • A naïve application of an incrementality percentage derived from market-level models indiscriminately to all customer histories will bias attribution substantially. In these methodologies, highly effective digital marketing treatments will be penalized while ineffective ones will be favored. As a result, differentiation will be dampened and reallocation opportunities might be squandered.

Marketing Allocation

  • What econometric methods have you applied (as such log-log multi-regression models, Bayesian approaches, diffusion models) to identify causal relationshipsbetween outcome (e.g., consumer purchase funnel and sales) and marketing and other business drivers based on observed behaviors?
    • Traditional mix models, test/control experiments and judgmental attribution methods are not comprehensive enough to provide timely and credible answers to questions regarding marketing allocations, impact and trade-offs.
  • What were your hypotheses on the expectation of the direction of impact; the magnitude of the impact; and the lag between the cause and effect?
  • How did you identify and test the impact of intermediate outcomes (as organic search queries, own-site web traffic, online video viewing, social media exposure, brand awareness, etc) have on marketing tactics?
  • What control variables did you take into account?
    • To account for external factors that are impacting customers such as economy, competitive landscape, and seasonality

Statistical Analysis

General Statistics Questions

Today people have to deal with up to terabytes of data and have to make sense of it and glean the important patterns from it.  Statistics can help greatly in this process by helping to answer several important questions about your data:

  • What patterns are there in my database?
  • What is the chance that an event will occur?
  • Which patterns are significant?
  • What is a high level summary of the data that gives me some idea of what is contained in my database?

Click to Learn M0re

p-value

Besides p-value, what statistical test have you conducted to ensure your hypothesis is correct?

  • One of the most important messages is that the p-value cannot tell you if your hypothesis is correct. Instead, it’s the probability of your data given your hypothesis.
  • A common misconception among nonstatisticians is that p-values can tell you the probability that a result occurred by chance. This interpretation is dead wrong
  • Nor can a p-value tell you the size of an effect, the strength of the evidence or the importance of a result.

Click to Learn More

 

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Training

General Thoughts on the Nature of Business – Strategy of Preeminence

Below is a collection of quips, sayings, and advice on how to make an impact in your industry I got from a lecture. Below are my notes:

  • Customers do not know definitely what they want, because they are struggling. People that help them understand and acknowledge and articulate and take action and formulate a definitive and logical and compelling strategy normally get their trust.
  • Gravitate towards people who lead us, who are empathetically authoritative.
  • Everyone feels like they’re a commodity – they not distinctive – they have no purpose
  • The person who makes money is the person who helps another feel powerful.
    • Most people do not know what focus is until firms had it made for them.
    • Data dump does not work if they did not know what to do with it and why to do something
  • Task: give them a plan; help them take the next step; protect them; make that step logical/appropriate/obvious, and easy
    • Put into words what people want but could not articulate or get clarity
  • Then, and only then, build on that for them
    • Verbalize, articulate, and express feelings
  • Go it off your chest, got it verbalized
    • Secret to making business really exciting is to be in a passionate awareness and make a commitment to a higher purpose; the higher purpose is not your own enrichment
  • Instead, it is helping their lives be better, helping them be more fulfilled, helping them to get more out of a process or life, itself
  • Customer/client is the center of attention
    • Embrace your customers’ situation with hope and promise
  • Give your customers hope
    • Nurturous appreciation for them
  • Ask: how can we do what we’re doing for others better?
  • The best are never content doing it
    • Example
      • What did we do good and what didn’t we do?
      • What are we not contributing that we could do better?
      • What are we not drawing out of people that they want to give that we’re not helping them contribute?
      • What dynamics are we missing?
      • How can we improve this?
      • What did we learn from the last one that we can translate to this one or borrow or integrate?
    • Optimization is constant, never-ending improvement
  • What problems are we going to help our customers solve?
  • How can we have the most positive impact on the people we’re trying to sell to?
    • Like we are in their home and with them as friends, having a conversation with them, dedicated to giving them information, dedicated to motivating and providing them with the greatest benefit until we come into their home again
  • Their purpose as being – sharing this combined repository of definitive knowledge and defining and interoperating and directing them on what action that knowledge would seem to make sense to take
  • Greatest ads, sales letters, sales presentations are ones where people never say that was a great presentation – they say “wow, I never thought about it that way. That makes eminently good sense. I must do that”
  • People have to recognize your advice as a solution to a problem they feel emotionally as well as rationally
  • Provide them with the reassurance and the motivation to use that solution
    • People, clients, customers want very badly to feel good about themselves and the way they conducted their decisions
    • People take less action because they are afraid it won’t be right, they will have screwed up
  • My job is to acknowledge that reality of human nature
    • Compensate around it
    • Reassure them
    • Direct them
  • People will do more things to curtail making gains because they do not want to look foolish. They will work harder not to look foolish than they will work to gain ad advantage
    • People want to feel good about themselves and about the way they conduct their decisions
    • Interests, needs, desires, fears, hopes, emotional issue – all you can help them deal with -> great vista of opportunity
  • If you fail to value and acknowledge and respect the worth of what you have done, what you do, and how much more you will be doing for your clients – then it is shameful
  • Ads or presentation – demonstrate to people with logic and emotion why acting is so much more preferable to them than inaction, from their benefit standpoint, not yours. The promotion or sales approach has to answer a question that is already on the customer’s mind
  • People need to be told why you are going to do for them
  • People fall in love with their company instead of their customers
  • Your higher purpose has everything to do with you brining enhanced advantage, protection, benefit, richness of life or business to a client
  • A massive change will occur in your whole mind set when you conceive of your business as interacting and enhancing people and their lives
    • Change of mindset from “what do I have to say to get people to buy?” to “what do I have to give? What benefit do I have to render?
    • Be value contributor
  • The more value you render others, the more value you generate, not for yourself, but for your client
  • The focus of your concern should state to the client that they matter; that they well-being is important
    • Worse: feeling out of control, unstructured in their thinking
    • Best: clarify, unconfused them, give them control
  • See yourself as an agent of change, a creator of value, a value contributor
  • Most people do not want to see things as a process. Instead, they want to see things as a project – with definite start and end because it is easier for them to comprehend it
    • Break things down for people into simple steps
    • Little changes and shift make big difference
  • You owe it to yourself to get the most out of all of it and be in control and not be controlled
  • People need solutions, not strategy
    • Strategy skills are better than selling skills
    • In ads, if strategy is right, you can screw up and have certain missing elements, the ad will still work. But if the strategy is not right, no matter how good is your ad, it won’t sell
  • Have in mind the strategy to give you the greatest program and process you’ve ever experienced
    • Be concerned with your strategy, the whole concept, and being true and having integrity and commitment to that
    • VITAL: be more strategy and concept oriented than techniques oriented in your lives and in your business
  • Clients are looking for advocates for their well-being
  • People will always pursue their well-being in a logical, rational way, but they will make their decisions on an emotional bent
  • Always ask them and yourself, “isn’t there a better way they could be doing something?”
    • Example: want your clients to be heros
  • Most people do focus on tangible results, so you have to deal with specifics, not abstract generalities, but most of the great rewards aren’t tangible, so you have to deal with those too
  • If I do my job correctly for anyone, they end up evolving to the decision, thinking that some conclusion is their own. I give them the ammunition that allows them to make the conclusions for themselves
    • If I own it and lend it to you, it is NEVER going to be yours.
    • If you own it rather than me, it is much MORE powerful
  • You never want to draw the conclusion – you want them to take an action that makes a commitment. Your commitment to them will NEVER be as strong as their commitment to themselves
    • Your job is to help them want it for THEMSELVES
    • You empower them by turning on the energy and the power of their awareness by making it real and making them take ownership of it
    • Any claim you make, the client must agree with or they are going to discount it or shut off. Do not shove facts into people’s throats. It does not matter if you are right if the client refuses to acknowledge that you are right. Most do not want to be burdened with all the details
    • There is a price to pay on indulging yourself in being right – it lessens results, lessens connections, lessens profitability, and lessens success
  • You are in control – never controlled. Never have been. You just abdicated, excused yourself
  • Your job is to reduce hurdles for the customers. Talk about frustration and desires your clients really feel
  • Your client wants to feel like you worry about them and you care about them at a dimension far more meaningful than just through them to their treasury or their pocketbook or their bank card
  • Most competitors do not have customers – they think they own their customers with a chance to buy more
  • Most concepts are hard too difficult for most people to buy into – instead give them an example of how things work
    • Use should always try to use a reference frame metaphorically first before you try to explain anything to your clients
  • Most people do not really know what to do. If they did, they’d be doing it, wouldn’t they
    • Take an understating that your customers do not what to do, but they do not even know they do not know or, if they do know, they are ashamed and afraid to reveal it
    • Benevolently and nurturously and emphatically help them learn what is possible
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Analytics, Sales

Unique Selling Proposition Check List

The Big Why?

  • Do you have a clearly defined vision for your business?
  • Do you have buy-into your vision by (Check all that apply)
    • Your team
    • Your partners
    • Your suppliers

Creating USP

  • What industry are you in? (TIP: you are what you repeatedly do)
  • What’s in it for your customers to use your product or your service?
    • How does your customer describe your product?
    • How does your customer use your product?
  • What will encourage your potential customers to purchase your product or service?
  • List specific what makes your product/service unlike your competitors
  • If it is a class of its own, then do you compete on (check one):
    • Lowest price?
    • Doing something different than the competition or what the customers expects (Pick all that apply):
      • More or better
      • Extra services
    • Serve a well-defined small group?
    • Combination of the above
  • What is your competitor’s USP?
    • TIP: If there are different size companies, define the competitor’s general USP based on the size and their stage of development (start up, transition, or growth)
  • What is your complimentary firm’s USP?
  • What is your supplier’s USP?

USP Statement General Characteristics

  • Does it include a value that customers receive?
  • Is it less than 90 words?
  • Does it outline specific areas of differentiation?
  • Does it provide something to the unserved market?
  • Does it answer “what’s in it for customers AND prospects”?
  • Is it realistic that you can follow through on your promises to the customer?

Closing

  • Who owns your USP?
  • Who will revise your USP? How often?
  • How is your USP communicated to your team and suppliers?
  • How do your sale teams use of USP? How marketing materials use USP? How is your marketing aligns with sales vis-à-vis USP?
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marketing, Uncategorized

Definition of Marketing

As legendary coach Lombardi pointed out, excellent (presumably being the best one can be) requires reinforcement and utmost ability to execute the fundamentals. Below are outline of the fundamental concepts of marketing. The key element of this blog is not to all-encompassing inventory of marketing terms but highlight of the simple concepts that we all use. With the new data and technology, the businesses realized that customer have not separate marketing from the product—it is the product.

 

Definition

The introduction and selling of your company’s products and services to past, present and prospective customers by first optimizing and leveraging all of your company’s marketing assets[i].

 Function of Marketing

Marketing is the company[ii].

 Non-Marketing Functions

All non-marketing functions of any business are subservient to marketing and innovation, paraphrasing Drucker. Analytics is tracking (including using description, predictive, and prescribed method) the firm’s hints of its relationship with past, present, or potential customer irregardless if purchase took place. [iii]

Marketing assets[iv]

Past customers, current customers, marque customer (ex, turning them into a celebrity), testimonials, salespeople, company’s advertising (ex logo, tag line), referral programs, current sales and marketing processes, location, reputation, time in business, relationships with other businesses, E-books, guides and handbooks, apps, studies, cheat sheet, videos, mix media posts, employees, suppliers, company’s culture, brochures, blogs, corporate website, social media sites, SEO.

Two phases of Marketing

There are two phases of marketing requiring different approaches. The first is getting attention in the marketplace of your offering. The channels of engagement include advertising, tradeshows, web marketing, direct mail, salespeople prospecting, etc. Real marketing begins when a prospect expresses interest in the product or service. They enter into the gravitational pull of the company. Just like in any team, the strength is measured by the weakest link. Most companies, at this stage, lose their customers because of the internal inefficiency to create, nurture, sustain, and elongate relationship.

How to Increase Sales or Profits

Anywhere and anyway, there are only three ways sales or profits can be achieved. There are no other ways

  1. Increase the number of prospective customers contacted or inquiring
  2. Increase the conversion rate of prospective customers to buying customers
  3. Increase the value of worth of each customer

USP

A succinct description of what you company can do better than anyone else[v].

 

 

[i] Dawn Marketer, March 1, 2016

[ii] See Peter Drucker, McKinsey Quarterly

[iii] There are three analytics concepts – data, information, knowledge. Data can never be wrong, information can, and knowledge is built upon the use of the other two. The reports, spreadsheets, databases, etc is information. As such, information is never conclusive, always has assumptions, and is limited. Analytics methods are means of finding hints in the data that a hypothesis is not wrong with current set of available information and knowledge.

[iv] Dawn Marketer, March 1, 2016, Eric Murphy, June 10, 2014, Stanford Smith, Inc Magazine

[v] USP can very within the company depending on the revenue source. A quick paper from Bain that explains why USP is still relevant in today’s crossover market. Although they do not use the words, they do state that the first step is create “propositions that take into account the product features, the brand and a customer’s experience with the company”

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