Sales Laundry

Posts Tagged ‘Bringing Value’

Big or small, we should all be actively working to prevent our products and services from sliding in importance for our consumers and being recategorized as a low priority as our customers retrench and re-shuffle priorities in this new economic climate.

What are you doing to raise your profile with your prospects and customers, compelling them to spend their hard earned dollars with you instead of sitting on the sidelines waiting for better days?

In this downturn, some huge companies are pushing new innovations to enhance the buying experience.  A few others are trying some far reaching ideas to connect with customers in a meaningful and personal way to gently nudge them into continuing to purchase their products.

Previously, I have written about what Kellogg’s is doing to make a bowl of breakfast cereal more important by tying breakfast cereal to our children’s education.  I have also written about Domino’s Pizzas use of technology to enhance the pizza delivery experience.

Today I noticed Microsoft paired itself with the infamous Jack Welch and Suzy Welch as co-hosts of a new online program (everybodysbusiness.msn.com) delving headlong into the problems faced by brand name (Hertz & Domino’s Pizza so far) businesses.  Jack and Suzy guide a diverse executive group in identifying some real challenges the company faces and then leverage the groups collective experience to find some legitimate solutions in a very candid way that makes you the viewer feel like you are sitting in the boardroom with them, watching and listening to an honest conversation you would otherwise never get to hear.

With the help of Jack and Suzy, Microsoft delivers valuable entertaining content that stands on its own, but still manages to drive the company message and squeeze in a stealth mini case study.  I for one am happy to report I did not feel like I had just swallowed a twenty minute Microsoft infomercial.

After watching this was I compelled to run out and setup a server farm driven by Microsoft products?  No, but I now understand in a subtle way that a lot of the technology Domino’s has in place across almost all of their stores, including their powerful online pizza delivery system is built on Microsoft technology, so Microsoft can probably handle the needs of my business.  I am not certain, though, how Microsoft fits into the Hertz solution by watching the show.

I just consumed a Microsoft case study reframed as (and rightly so) as a content rich business dialog with Jack Welch, and I enjoyed every minute of it.

Enough about Kellogg’s, Domino’s, and Microsoft, how can we make your product a more compelling purchase?  What can we tie your offering to that enhances you brand and ultimately sales?  How can we take a product that has dropped in priority with your buyers and get them snapping up your goods again?

I know several of you out there, so I am going to offer up a few ideas that will hopefully get you and everyone else reading this to expand your thinking.

Mortgage Industry. – Could you put together real/virtual seminars providing honest advice and resources for people struggling to pay their mortgage and help them save their homes?

If you could help me keep my home, or cross the great divide from renting to home ownership, helping me avoid the pitfalls along the way, you would earn my loyalty in a way the cheapest mortgage rate on Bankrate.com never could.

Copier/Office Machine Industry. – Every business of any size has some form of copier they bought/leased, right?  Could you setup business forums introducing clients that could benefit by doing business with each other?  Could you setup a lead exchange program identifying a need at one client business and passing that information along to another client business to potentially fill that need?

Bringing my business real leads and I just might be more likely to accept a slightly higher price for my supplies.  Real leads would certainly inspire my loyalty more than a cold-call walk-in four-legged (the new copier sales guy and his Sales Manager, typically) sales call ever could.

Can you think bigger?

Annual charity drives to collect reams of paper for a local school district or charity organization in your region?  Could you put together a toner cartridge recycling program for your city?  Have a big service fleet of vehicles?  How about delivering or augmenting Meals on Wheels efforts?

What about every other business?

How can you raise your importance to your community and the need for your product?  What programs or partnerships could you put in place to positively change the perception of your business and its support of your community?

Think out loud about your business and how you can raise customer loyalty and the priority of the problems your product solves in your customer’s eyes.

Think until you hear a “Wow” in your head, then tell me about what you came up with and let me know if I can help.

As a young boy my mom would occasionally pick me up after school and take me back to her work until she was done for the day.

I looked forward to those days because once we got to her work I got to walk across the street to what was then a Ben Franklin store and pick out a new Hot Wheels car for $1.24 of my hard earned allowance and head back to moms office to burn some toy rubber.

When it came time to get something to drink, though, I had a lot of choices. I could get a can out of the Coke machine in the office, I could walk back across the street to Ben Franklin or I could walk to a nearby gas station.

Even though the same brand of soft drink was much closer and priced about the same, one being only a few steps away, almost without fail I chose the gas station as the place to make my drink purchase.

Why? Because the old man that owned that gas station found a way to add value to a commodity product like a soft drink that made his place of business my first choice.

The Coke was canned so he could not tinker with the formula, the quantity was the same, 12 ounces, and he did not treat me any better or worse than any other adult.

So what did he do different?

One thing. He kept his refrigerators set just right to keep the Coke as cold as possible, forming little ice crystals inside the can. A Coke from his refrigerator was worth the walk.

Are you selling a product that is fast becoming a commodity like a can of Coke? Are you selling your product like the commodity it is, or have you figured out a way to add your own spin?

If I could buy your product from three locations within walking distance, what are you doing different to make me choose you?

Think about it.

What I do not know is how I figured out the refrigerators were so cold at the old mans gas station to begin with. If you have found a way to add value to a commodity product, how are you informing customers about the difference?

Have you found a way to add value to a commodity that is giving you an advantage in the market? Tell me about it.

What is your competitive advantage?

I love that question because it gives me an immediate understanding of a sales reps grasp of their own offerings and provides a small perspective into their understanding of their competitors.

The answer to that question can be key in some cases in determining the reasons for the success or failure of an individual sales rep or an entire sales team.

Let’s take an example from the oft in the news automobile industry. I will qualify all of this by saying I do not and have not ever sold cars. This is an example to illustrate a point.

If I only sold new Ford F150 pickups I would consider it critical to my success to understand everything I could about feature packages, engine choices, trim levels and available options so I could match the needs of my prospective client with the best combination of features that would serve his needs and what I had on the lot.

I would also want to understand what I had in inventory, what my competitors have, and what I could get my hands on in a reasonable amount of time to satisfy a customer request.

Next, for me, would be to talk to my service department and get an understanding of the vehicle from a service perspective. What parts tend to break more often? What should my client keep an eye on to avoid costly repairs? Are there any specific problems with certain engines, transmissions or trim levels?

I would also study the commercials to understand what the Ford marketing department is hanging its hat on when trying to entice the consumer to buy their trucks. Where it makes sense, I would blend their message with mine to leverage the ground work Ford has already done.

I would also need to know why my new F150 and the depreciation it would take as soon as it rolled off the lot was a better value for my customer than last years model, or any other used Ford truck still on the road. If I only sell new Ford trucks then a used Ford F150 is every bit as strong a competitor as a Chevrolet, Toyota, Nissan or GMC.

Where, when and why is my new F150 a better value than my competitors’ vehicles. To understand that, I would need as much knowledge about my competitors new trucks as I know about my own, including their used models as well.

Amassing and internalizing all of this information amounts to what could be a strong value add for my prospective truck customer. Even the ones showing up fully armed with internet research.

The more information I have at my disposal to answer questions and eliminate the need for my client to go look somewhere else, the more likely I am to sell a truck.

There are several other factors that go into being a successful rep that I glossed over. Here I am speaking specifically about leveraging what you know into dough.

I ask again, what is your competitive advantage?

Why should I buy your product over your competitors? What value do YOU bring as the representative? Why should I buy my widget from you instead of number one sales guy Dave over there?

Make it easy for me to buy, help me understand the value you bring, and why I should buy from you vs. your competitor and odds are, assuming I believe you and recognize your value, I will buy from you, all other things being equal.

Chinese general Sun Tzu, living some 2,400 years ago, give or take, put it a little differently…

If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.
- Sun Tzu

Or perhaps more concisely put…

Keep your friends close, and your enemies closer.
- Sun-Tzu

image provided by theblogentrepreneur.com

“I want to be a partner for my client not just a vendor.” – Joe Salesguy

I say “Prove it.”

“I am in it to help my customers business be successful.” – Joe Salesguy

“Yeah, right.”

“I do not have to understand my customers business in order to sell my product.” – Joe Salesguy

“Your right, but you might have to if you actually want him to buy from you.”

You cannot be a partner with your customer if you can’t understand life from your clients’ shoes because being a partner implies you bring a desired expertise to the table that is not only valued but preferred to other resources available to your customer.

If you do not understand your clients business, you are no different than every other Account Manager or Consultant that knocks on his door. You are indistinguishable. You look the same and smell the same as every other guy out there pitching similar gear.

Failing to understand your potential clients business makes you lazy, stupid, or ignorant. I can fix ignorant, the rest of you are on your own.

With the wealth of information at your WWW fingertips you should have a basic understanding of your clients business before making the call. With a little bit of reading you can even get up to speed pretty quickly on your clients industry and any news about his company in the last year.

If you want to be perceived as being smart, ask smart questions. Take some time to write down some questions ahead of time that will not only demonstrate you are not an idiot but will actually begin to give you a better understanding of the type of environment you client faces.

If you ask “So, what do you do here” you should be show the door with a size 10 footprint on your backside.

Want to know why the best reps in your office can actually get their clients on the phone when they call them? It’s because the client places some value in what that representative has to say.

Or, of course, there is always the possibility that the client could have just accidentally answered the wrong line.

Be helpful, be entertaining, add value if you want your client to consider you valuable.

Right now, think about what you typically say to a prospect in a first meeting. Gut check time. Would you really want to sit there listening to that for an hour?

If not, change what you say. Don’t be boring. Bring value or just don’t go.

The client gets absolutely no value out of the initial questions you ask on an account call.  He only tolerates the questions because he assumes there will be some value coming from your yapping at some point to make it all worth it.

Don’t disappoint.

If you have a story where you have legitimately brought the value, I want to hear it. If you have a story where you got schooled, but learned a good lesson, I want to hear that, too.