THE BENEFIT OF THE BENEFIT

benifitYou have an incredible product/service. You have a phenomenal presentation showing the features and benefits of your product/service. However, you are not making any headway. Why?

Is this scenario familiar to anyone? Let’s take a closer look at this often occurring situation.

What we must all accept, is that consumers today are aware and educated about our products/services even before they meet us. Therefore, if you are still highlighting the features of your product/service, you are putting your audience to sleep as they in all likelihood know as much, if not more, than you may. Do not sell on features. If you do have to mention features, keep it to a minimum. When you have a good feel for the minimum, cut it in half.

YOUR REACTION TO FEAR

snowWe had, what is referred to in Vancouver, British Columbia, a major snowstorm. In the rest of the Country, it would be considered a mild dusting. Driving in this ‘snowstorm’ is not only comical but also dangerous, because of the reaction of other drivers.

You may be asking yourself: “What does this have to do with anything in business?” The answer is, because of the reactions of some of these drivers. That reaction is ‘fear.’

DO YOU KNOW THEIR PROCESS?

desisionsThere are some of us that still recall the days before any technology hit the business world and that one of the selling points was that we would be able to increase the speed that business is done and further, we would become a paperless society.

Well, there seems to be a great spasm between what was promised and what actually is happening today. First, I submit to you the need for paper has actually increased, and secondly, while some functions have become extremely more streamlined such as inventory control, invoicing, and immediate communications with a paper trail, the decision-making process has increased.

CUSTOMER RETENTION OR ACQUISITION?

client retentionThe fundamental rule of business is to retain customers. It has also been proven by numerous studies it cost five times more to attract a new customer than to keep an existing one.

These studies go on to show only 18% of companies actually work on client retention.

There are many factors, other than the economical one already mentioned as to why you may want to switch your focus more into the retention side rather than the acquiring effort.

IT ALL STARTS WITH SELF-PREPARATION

preparingRecently, I was asked if I would shadow an individual while making calls and report back to the Sales Manager as to how our program could make them more productive. This was an unusual request, as I do the shadowing after the program for a day to make sure implementation of the program has happened. However, I knew the manager quite well and, therefore, agreed.

We did not even make the first call as the challenges were immediately evident.

MAKE LAME QUESTIONS INTO GREAT ONES

LAME QUESTIONS“Aren’t we there to provide solutions?”

“Absolutely, but how can you provide the solution, if you don’t know what the challenge is.”

However, how many times do we go into a presentation with: “This, (insert product or service) will solve all of your challenges.”

Asking questions is a skill. Like any skill, it must be developed and then practiced. It is not only the question but the timing of the question. Doctors, police, hostage negotiators and interrogators practice questioning techniques consistently as part of their training. Business is no different; it is the question and the timing of those questions which will differentiate you from all others.