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Seven things to do before you send a proposal to a client

April 02, 2013 by Andy Preston

Seven things to do before you send a proposal to a client/proposal on stack of cubes{{}}1. Get the full specification of the project from the start

Most salespeople will get the majority of the specification down, but some have to call back a second time to get things they forgot, or that their colleagues tell them will be needed in order to produce an accurate quotation or proposal. You can imagine the impact this has on the prospect.  If you’re in a competitive market with other people pitching for the work, you’ve put yourself on the back foot before you’ve even started.

2. Find out — why now and why you?

These two areas are essential areas to investigate in every sales opportunity — you need to establish early on in your sales conversation how serious they are, and how serious the project is. Even more important however is getting the “why you” bit answered. The aim here is to uncover both the buying motivation, and also what chance you have of picking up this business. Remember, the fluffier the answers to the questions you ask here, the less likely you are to win the work!

3. Establish decision makers and the decision-making process

Failure to establish the decision makers involved will mean that you could go all the way through the process, and then fall at the final hurdle as someone else comes in to influence the buying decision that you weren’t aware of. Once you’ve identified the decision makers, you can then decide your approach for engaging them. You also need to identify the process they’re going through in order to make the decision. If they’re cagey about the process this time, it might be that the person you’re talking to is low-level in the organisation. In which case, simply asking about a previous process for similar projects will uncover most of what you need to know.

4. Establish their other options

Asking about the other options they’re considering will usually set the platform for you to get information about other potential suppliers/vendors. It will also get you vital information about alternative competition — either them finding another way to achieve the results they want, doing it themselves in-house, or not doing it at all.

5. Ask about their timescales

Another area you need to know about is their timescales. Most salespeople make the mistake of only finding out when the clients want to implement the project or when they need to take delivery of the product. If you only get this timescale then you’re missing out on something that’s potentially more important. Make sure you understand their buying timescales to give yourself the best understanding of how to handle the proposal and give yourself the best chance of winning it.

6. Establish budget or funding

It’s vital in any sales opportunity, let alone a proposal situation, that you identify budget or funding as early as possible.  As most decent-sized projects require money from someone’s budget, or the company to have thought about how they’re going to pay for it, failure to identify this can mean the project stalling at the last minute — when you’ve put lots of time and effort into it.

Make sure that you’ve got the budget area covered and you’ll reduce the risk of the project being put on hold, or shelved, plus it may also highlight other people involved in the buying process that you weren’t aware of.

7. Establish commitment

This is the final and most important part of any sales situation, and even more vital at proposal stage. Now for those of you with a short sales cycle, you could also think of the word closing here. For those of you on longer sales cycles, usually with higher-value items or projects at stake, think about gaining commitment to the next stage and to yourself and your company. Failure to get commitment to the project and/or next stage and also to you and your company will mean that you’re likely to be disappointed when it comes to announcing who won the business and who lost it.  So gain commitment to ensure you end up in the winner’s enclosure.

So, make sure you take action on the above and the best of luck with your sales!

Andy Preston is an expert contributor to Marketing Donut and a leading expert on sales. His website is at www.andypreston.com.

 

 

Posted in Sales | Tagged tenders, Sales proposals, sales | 2 comments

Are you throwing away hot sales leads?

February 06, 2013 by John Paterson

Are your throwing away hot sales leads?/white paper in bin{{}}Most sales and marketing processes work like this: the marketing department generates sales leads that are passed to a sales person; the sales person does an initial qualification, probably discarding half of them; during the sales process, further qualification may happen, either by the prospect or the sales person, and finally about one qualified lead in four gets converted into a sale.

These numbers may change depending on the business but on average, I would assume around ten leads from marketing are needed for one sale.

Rebounders

So what happens to the leads that have been discarded? At worst, they may have been deleted from the marketing database and now aren’t on any system at all. At best, they will remain in the marketing database but not flagged as being special.

And why should they be special? Surely they are have been qualified out or lost? In fact, failed sales could be your most valuable future leads. They are the potential rebounders — hot leads that could be easy wins if they come back.

In our business, we get a steady stream of leads — people looking at our offering. Some get qualified out early because they don’t have the budget, or don’t want our delivery model. Later on they might be lost because they have specialised requirements or simply prefer another vendor and go with them.

Six months later, however, some come back. They have decided that they now have the budget, or maybe our delivery model wasn’t so bad, or they looked for a specialised system and gave up, or the competitor they initially chose disappointed them.

Converting “fails” into customers

Even though the initial attempt at converting these leads failed, compared to the rest of the marketing database they are statistically more likely to convert than the others that we know nothing about.

Actually, these “failed” leads had decided they wanted a system like ours and had some idea of what their requirements and budget were. They fell at the last hurdle, but at least they started the race. So whatever tripped them up the first time, they might get over if they started the race again.

So, don’t throw away so-called failed sales leads. Keep them in the database and segment them into a special campaign. This may require a CRM system that integrates the sales and marketing processes together, so prospects can be moved back and forth between marketing and sales with their history intact.

However it is managed, businesses need to get those failed leads back out of the bin.

John Paterson is CEO of Really Simple Systems.

Posted in Sales | Tagged Sales leads | 0 comments

Out-perform your competitors in 2013 - it's simpler than you think!

January 28, 2013 by Andy Preston

Out-perform your competitors in 2013 — it’s simpler than you think!/group of runners{{}}If out-selling your competitors in 2013 is your goal, then here are seven simple tips to get you started.

1. Ring-fence your existing accounts

If you want to get ahead, and stay ahead, of your competitors in 2013, the very first thing you need to do is ring-fence all your existing customers. What are your relationships like with your existing accounts? The ones you don’t get on as well with? Would they tell you if a competitor had been in? And if they did, would you retain the business at the same price, or would you have to price match to keep it?

2. Focus your prospecting

The quality of your prospecting will be one of the biggest factors in how successful you are in 2013. There will be certain specific criteria that make certain prospects more ideal for you than others. If you don’t know what they are, you need to find them out — and fast! If you’re really not sure, take a look at your existing client base. What was it that made them purchase at the moment they did?

3. Become a “valued resource”

In order to be seen as a valued resource, you have to earn it. Get updated on industry trends, technological advancements and understand the impact that these could have on your client’s business. You have to be able to hold a business conversation with the level of decision-makers you’re meeting. Invest the time to do things like this, and it will pay you back tenfold!

4. Have a plan for your attack

One of the best ways to get ahead of the competition is to win some of their customers from them! Why not map out competitors’ accounts in your territory, then create a call plan for getting in to see them, and focus on winning their business. Experience shows that focused approaches like these have a far better chance of success — and also put a big dent in your competitor’s motivation at the same time.

5. Increase your activity

Now, once you’ve targeted your prospecting, the next thing you need to do is crank up the volume. I’m a big fan of a high level of activity and the reason for this, is that the more deals you have in your pipeline, the more you can afford to lose! Purely by increasing your activity, you increase your chances of success — and therefore increase the amount of money you can earn. Who wouldn’t want to do that?

6. Keep motivated

We all know that motivation is important for a salesperson. But it’s the salesperson’s ability to be consistently motivated that will help them stand out from the rest.

7. Sharpen your sales skills

If you want to stay ahead of your competition in 2013, you’ll need to sharpen your sales skills. This means getting up-to-date, relevant sales tips and advice from trusted sources. If you get some internal training at your company, great! If your company invests in bringing an external trainer to help you improve, even better! If you’re one of those people that believes in investing in yourself (even if your company doesn’t), I take my hat off to you.

However, you don’t have to spend money to keep your sales skills updated — there are lots of free or low-cost podcasts you can listen to and plenty of seminars you can attend without spending a fortune. Just make sure you put into practice what you learn.

Andy Preston is an expert contributor to Marketing Donut and a leading expert on sales. His website is at www.andypreston.com.

Posted in Sales | Tagged sales, competitors | 0 comments

Getting festive: top tips for independent retailers

December 12, 2012 by Clare Rayner

Getting festive: top tips for independent retailers/christmas shop{{}}We were told that Monday 3rd December 2012 was Mega Monday (or Cyber Monday as others call it). Apparently, on this single day, up to £10,000 per second was being spent online.

There are always forecasts like this, and always on the first Monday of December. I’ve never seen a retrospective analysis to determine if it’s true or not, but what I do know is that once Cyber Monday (or mega Monday) has been and gone the focus of Christmas shoppers begins to move away from online and toward physical shop-based retailers.

With two peak shopping weekends to go before Christmas, retailers need to stock up, spruce up, get festive and bring in extra staff.

The next two weekends are likely to have the highest footfall (especially since few online retailers will be guaranteeing delivery by Christmas on orders placed after 15th due to the overload on couriers and postal services) so you need to be ready to make the most of it.

Here are a few top tips: 

  1. Get as much of your seasonal stock out on the shop floor before you open as possible — you can’t sell what they can’t find and you don’t want sales staff away from the shop floor, stocking up, when you are busy.
  2. Make the windows look super inviting — make the display enticing, engaging and really draw them in. You can even have someone outside, inviting people in for a hot drink and mince pie to warm up while they browse. It won’t cost you much to offer but is a really welcome touch, especially in the bitterly cold weather!
  3. Make sure you’ve got lots of staff on hand — to assist customers, to sell, to wrap and (sad to say it) to make sure if the shop gets very busy you are not the victim of shoplifting.
  4. Think about what you can do to make the customer decide to buy from you rather than elsewhere. What are your key value-adds? Is it a unique product? Locally produced? Made in the UK? Handmade? Is it the service? Or your gift wrapping? Perhaps you can deliver to their home that evening or hold for later collection. Do you offer an extended refund policy or warranties?make sure you promote your value-adds.
  5. Make it fun. Put the festive music on, have some mistletoe in the doorway, wear festive hats, dress up — if your shop looks like the most fun place to be on the high street, a haven of fun, warmth and festive joy, people will want to spend a little longer there, even if they are working against the clock to finish their gift shopping.

So, lots of ideas and I am sure you have plenty more too. The key is to make the most of those two big weekends when footfall should be noticeably increased. And make it a very merry, Indie, Christmas!

Clare Rayner is the author of The Retail Champion: 10 steps to retail success.

Posted in Sales | Tagged Christmas sales | 0 comments

How to make your tills ring this Christmas

November 29, 2012 by Adam Stewart

Make your tills ring this Christmas{{}}Each year, the Christmas retail floodgates open with November’s Black Friday and December’s Cyber Monday and the festive shopping season continues with sales of epic proportions. In fact, Adobe Digital’s Online Shopping Forecast for the United States and Europe estimates that the online retail sector will make approximately $2 billion on Cyber Monday alone.

But the Christmas season is not just a time for big brand advertising — smaller merchants can also make the most of the festive retail fever. Below are some practical tips for retailers of all sizes looking to profit from the Christmas shopping rush.

1. Originality first

Finding an original gift at Christmas can be hugely challenging, especially in an online landscape crowded with big brands offering discounts on bestsellers. However price isn’t the only consideration — originality can be a huge selling point. The old adage “it’s the thought that counts” is still true today; people want to know their loved ones have thought about what they would like to receive. Data analyst group Experian predicts that Monday December 3rd 2012 will see UK consumers spend 15 million hours shopping online. And throughout the month, time spent making e-commerce purchases will reach 375 million hours. A lot of this time browsing will not result in a purchase, as people are unsure of what to buy. The success of retailers like Notonthehightstreet.com prove the value of originality and inspiration.

2. Shoppers want details

With a vast content universe just a few clicks away from a retailer’s online shop front, it’s easy for shoppers to get distracted as they consider their seemingly endless purchase options. 21st century shoppers like to make an informed choice, so providing them with rich content will be critical to converting sales. Merchants should consider engagement tools such as videos to demo key products for Christmas, or interactive images that let you see how an item of clothing would look as part of an outfit.

3. Curate stocking filler collections

Savvy merchants should look at Christmas from a shopper’s perspective. Most of us are faced with a raft of uninspiring Christmas lists from indecisive family members each year. What do you get your Dad apart from another pair of socks, and how can you think of an original gift for a partner you have been giving birthday, Christmas and anniversary gifts to for many years? Rather than taking a product-led approach, merchants should consider taking a demographic or price-led approach and curate Christmas collections, such as “under £10” or “for the in-laws”. This way they can engage and inspire shoppers, taking some of the legwork out of the illusive present hunt.

4. Ride the festive social buzz

Shoppers will be actively hunting for promotions and interesting gifts on social platforms (and not always in their free time). VoucherCodesPro.co.uk recently found that the average Brit in full time employment spends up to 1.5 hours per day on social network sites during work hours. That equates to 7.5 hours per week. The most common times for switching on to social networks at work is between 10am–11am and 3pm–4pm. Tap into festive offer hashtags in the run up to Christmas, or run Christmas-themed competitions with the chance to win a gift bundle.

5. Make a lasting impression

Christmas is a stressful time for shoppers, but it’s a huge opportunity for a merchant to make a favourable brand impression. This should include everything from the basics of offering good customer service and speedy delivery to added extras, such as gift wrapping, personalised notes or tailored free samples. While all these things should leave customers with a warm fuzzy feeling, retailers also want to ensure shoppers come back again and again, so you could consider providing existing customers with special offers to reward their loyalty on an ongoing basis.

6. Festive timing

Adam Stewart{{}}

Throughout the year, Monday has highest conversion rate for online retail. Data from Rakuten’s Play.com reveals Brits combat the Monday blues with an evening of online retail therapy — indeed, Play.com clocks its highest browsing and buying figures from 8pm–10pm every Monday, while mobile browsing surges on Monday morning from 7am–8am. Time your Christmas communications to hit when shoppers are more likely to make a purchase, whether this is through offers, suggesting items, or even limited edition products that will only be available for a short period of time.

Make the most of the Christmas shopping rush by extending these tactics across all your channels, from your website to social, and from email marketing to mobile communications.

 

Happy Christmas shopping season!

Adam Stewart is marketing director at Rakuten’s Play.com.

 

 

Posted in Sales | Tagged Christmas sales | 0 comments

What Steve Jobs taught us about marketing and sales

October 26, 2012 by Andy Preston

What Steve Jobs taught us about marketing and sales/apple{{}}Friday 5th October marked one year since the death of Steve Jobs, but his legacy as an entrepreneur lives on. In particular, there are important sales lessons that we can learn from Steve Jobs.

In particular I admired his ability to release new products that people didn’t even realise they needed until he released them! At which point they became must-buys for a lot of people — and that’s coming from the owner of an iPod, iPhone, Macbook Pro and iPad 2.

So what sales lessons can we learn from him?

1. Don’t be afraid of being different

Steve Jobs was never afraid to stand out from the crowd and to pursue things that other people thought were stupid. Until he did them and the people stood back and applauded. In a sales context, what aren’t you doing right now because other people think it’s stupid?

2. Love what you do

One of Steve’s favourite sayings was “love what you do”. My question to you is “do you love what you do?” The answer for most salespeople, and most people in general, is “yes, when things are going well”. I’ve always said that in my opinion, sales can be the best job in the world when things are going well…. And the worst job in the world when things are going badly! So for those of you that don’t currently love what you do, you need a more compelling reason for doing what you do.

3. Turn your TV off!

I remember Steve saying: “We think you watch television to switch your brain OFF, and work on your computer when you want to turn your brain ON”. I’ve always loved that saying. When I ask most salespeople “how much time do you spend on trying to improve your sales or your sales career against how much time do you spend watching TV?” guess which one is normally most popular? Most salespeople I meet rarely work on their sales career outside of work and even inside of work they rarely work on improving it — they just end up doing it.

4. Create a buying experience

Steve Jobs and Apple were fantastic at creating a “buying experience” every time you bought one of their products. Anyone who has bought from Apple will confirm this! Whether it’s an iPod, iPhone, iPad, iMac or anything else in their product line, if you’ve bought one you’ll know that it’s a bit different from the usual buying experience.

An Apple store experience is just that — an experience. The majority of people on the shop floor know exactly how to answer your query, or find someone who does in a minute. Does that have any impact on how many people buy more products from Apple? Of course it does!

5. Don’t fear failure

The majority of people I speak to, at some point, have to deal with failure. So therefore most people also have to deal with a fear of failure. Something that happens in advance of an event that they think will mean failure for them. So one of the things that I do when I work with an individual or sales team is to look at what failures they’re afraid of. Number one on this list is usually cold calling, or in some cases, any kind of sales calls at all! How many of you or your team are putting off calling a prospect that could be a really good source of income for you, because you feel like you’re not ready?

Andy Preston is an expert contributor to Marketing Donut and a leading expert on sales. His website is at www.andypreston.com.

Posted in Sales | Tagged sales, marketing | 0 comments

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