Ali Ghaemi

Best Sales Technique

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Jan 252012
 

People often ask, “what is the best sales technique (I can use)?” The question is general and unclear.
For the question to be answered one has to understand the difference between effectiveness and efficiency. Effectiveness is about output. Something is effective when it yields the best result. Efficiency, however, is closely related to resources and input/output. A process, in this case a sale, is efficient if a relatively good outcome (a sale? profit? margins? above average numbers?) has been obtained through a minimal amount of resource having been expended.
Think about it. The best sales technique, as far as efficiency is concerned, to give away the customer whatever he or she wants.
Salesperson: “Hello. How much would you like to pay for X?”
Customer: “I would like to buy this car with all the options included for $5.”
Salesperson: “No problem. I will drive it out for you.” Thinks: “Great day, so far today I have sold 10 cars and we have been open for 15 minutes.”
That is pretty efficient. The dealer has sold ten cars in fifteen minutes.

The catch is… well you know exactly what the catch is. It might be the best sales technique, but is not profitable, sane or sustainable.
Think about the way the group discount websites operate. They offer a big discount on something giving businesses the hope that the ‘something’ becomes a loss leader that generates volume or repeat business. I won’t get into the doleful nature of a business that wants to win business by doling out ‘deals’ or the sordid nature of a consumer that purchases solely based on ‘deals,’ but one thing requires particular attention. The ‘group buy’ websites, such as WagJag, GroupOn or Living Social, do not practice what they preach. I doubt any of these websites offers mass discounts to its customers (the businesses that buy into the promotions). After all, GroupOn has investors and sales and margins it needs to protect. It aims to be a long-term business and does not give in to the efficiency of whatever the merchant demands.
So, a better option is to have people find, crave and want you. Apple is the obvious example. Word-of-mouth, utility, group-think and momentum deliver Apple what it wants: sales. It is not price sensitive (Apple is often the most expensive of its category) and not subject to competitive pressures as much as other businesses. People come to it because it has a good reputation. It is known and liked. It knows what customers want and it crafts it.

In the era of modern and instant communication, the Internet and pervasiveness of information a business needs to stand out and draw prospects and customers in. The same goes for persons.
What is your inbound marketing strategy?

The Underappreciated And Misunderstood Salesperson

 Articles, Management  Add Comments »
Jan 162012
 

Salespeople have a tough time of it.
Why is it that they don’t always sell more and occasionally not achieve their quantitative goals even though they are on a quota with a variable pay component, et cetra et cetra?
Shocker: Most salespeople do not care for the money above a certain level and are more concerned with something else. What is that ‘something else?’ Acceptance, promotion and stability. Yes, those things should coincide with hitting the quota, but understand that beyond a certain dollar amount most salespeople are ‘okay’ with not making more. That variable amount changes depending on the level or seniority of the salesperson, but most sales folk are concerned with looking good to their bosses, getting love and admiration from their company and winning with customers.
Consider that when you think about motivating the sales team. And think about that when asking yourself what the base/variable compensation mix should be.

Also, consult the salespeople on product direction and marketing efforts and customer feedback. Not only are they the frontline, but also they want to feel wanted. You could be getting a 2-for-1.

An Interview with Beverly Kaye Of Career Systems International Co-Author of Love ‘Em Or Lose ‘Em: Getting Good People To Stay

 Articles, Management  Add Comments »
Dec 112011
 

 

I recently read and reviewed Love ‘Em Or Lose ‘Em: Getting Good People To Stay by Beverly Kaye and Sharon Jordan-Evans. The book was a comprehensive digest of progressive management of people.

A review of the book is here: http://www.alighaemi.com/wp/?p=860.

 

I had the occasion to speak to Beverly Kaye about the contents of the book and bring you her answers and thoughts on topics covered by the book.

Bev, if you do not mind let me play the devil’s advocate for my first question. Is the concept of the book anachronistic given the tough times and the high unemployment rate?

Absolutely not!  The issue of engagement and retention is just as important in tough times as it is in good times.  The truth is that talented employees have choices, they can find other opportunities. Organizations or managers who feel they can relax because people aren’t going anywhere… or there’s plenty of talent out there… they will find themselves in hot water – if not already – soon.

 

When speaking with employees, or people in general, they seem to give more emphasis and credence to pay and salary than much of the research, including yours, implies. Am I speaking to a non-representative sample?

Many employees will use “better opportunity” or “higher salary” as reasons they leave, at least that’s what they write on their exit interviews.  But, if you take the time to follow them to their next job you will find that their reasons are often much more specific and many of those reasons have to do with their own manager.  Not feeling valued, appreciated, challenged, even noticed comes out higher on the list every time.  Not saying that pay is not a reason, or not important. It is, but if it is competitive and an individual is being challenged and talents are used appropriately then it will not be a factor in whether one stays or leaves.

 

The biggest criticism one could accord the book would be that much of its advice is beyond the power or reach of front-line managers. Love ‘Em Or Lose ‘Em insists managers are the most influential factor in whether employees stay. Could you reconcile these two notions?

I still believe that much of the power rests with the manager and that it is the relationship with the manager that is one of the most important factors in engagement and retention.  When we wrote Love ‘Em… we worked hard to make sure that most of the ideas were low cost or no cost, so I’d challenge you to find that the tilt is in the other direction.  Again, it takes a creative manager, willing to think outside the box, to take any idea we mention and tweak it so that it applies to his direct reports as individuals.  This means you need to know them first!

 

In your opinion, are modern managers getting better at leading their employees or are old-school habits persisting? Do you have any view or research in this regard?

I think the main old-school habit that seems to persist has more to do with the development discussion than the engagement conversation with a manager.  Managers have an erroneous belief that all of their people have a desire to move up in the organization and if those upward spots are not available they avoid that particular conversation instead of staying open and getting to know the career aspirations of their employees.  Career development and opportunities to learn and grow continue to be one of the major drivers for engagement and retention.

 

On the flip side, what would you reckon is the employees’ responsibility in regards to making their jobs and days pleasurable and successful?

When managers around the globe thanked us for the ideas in Love ‘Em  – not rocket science, but ideas that are easy to forget – and asked us my co-author and I wrote a companion book to Love ‘Em, what about employees (they asked)? Don’t they have a role in this? Shouldn’t they be responsible for their own job satisfaction?  The answer is ‘of course they do.’  We took the same 26 strategies and re-wrote the book from the employee’s perspective!  It’s titled Love It Don’t Leave It: 26 Ways To Get What You Want At Work. It makes a strong point that an employee cannot and should not wait for their manager to start the conversation. They need to initiate it as well.

 

Beverly Kaye is currently working on a new book, which is due in 2012. The new book is tentatively entitled Help Them Grow Or Watch Them Go and will be a book for managers to deal with career development issues. For more information visit the website of Career Systems International at http://www.careersystemsintl.com/.

 

Thanks to Michelle Zionkowski and especially to Lorianne Speaks for coordinating and facilitating this conversation with Beverly Kaye.

 

The Marketing Continuum 7

 Articles, Marketing  Add Comments »
Dec 072011
 

Just over a month ago I wrote about different marketing techniques and types:
 http://www.alighaemi.com/wp/?p=846

As a follow-up I want to discuss a general Marketing Continumm (feel free to download the slide from the link at the bottom).

1- Preamble – type of marketing? What is appropriate for the business?
2- Objective – what is the definition of success? How will it be measured?
3- Duration – what is the implementation and control/cessation period?
4- Target Market (Who Or Which?) – Includes the P’s (place, price, product/service or promotion) and cannot be ‘everybody’ as that is too broad.
5- Branding – Includes message, byline and logo
6- Milestones – Time measurements that determine the project’s timeliness and success. Be realistic and beware of mission-creep. What steps need to be complete?
7- Repeat Or Recurring Activities – what are they and are they budgeted for time and money-wise?
The slide is here:

THE MARKETING CONTINUUM

‘Why’ – The Most Important Question

 Articles, Management, Negotiating, Prospecting, Selling  1 Comment »
Nov 282011
 

Salespeople: do you know why you should undertake a task? Do you have a reason you can convey to customers that explains why doing something is beneficial? Has your sales manager explained to you the ‘why’ of what you are being asked to do or shortchanged you in the interest of simplicity and saving time and only given you the ‘what?’
Managers: Have you explained the ‘why’ to your teams? People who know why they need to do something, why they need to do it a certain way or in certain timeframe do it better as they are armed with a reason, rationale or logic. Take the time.

Asking ‘why’ also helps instill continuous improvement by questioning why something is done in a certain way and if a better process could come to be. Malcolm Gladwell’s Outliers: The Story Of Success has a detailed briefing on the risks of ‘soldier mentality.’ For example, Korean Airlines’ poor safety record in the 20th Century is partly attributed to pilots, co-pilots and other personnel never questioning an order and never examining the ‘why.’ It makes for interesting reading.

Myth: Customers Value (The cheapest) Price Above Anything Else

 Articles, Negotiating, Selling  Add Comments »
Nov 272011
 

 

 
 
This is one of the conundrums of selling. Salespeople fear that all customers want is to obtain the lowest price or else… or else the customer will proceed to buy from someone else.

Several months ago I wrote about a pre-emptive approach to selling one’s value, as well as justifying one’s price. http://www.alighaemi.com/wp/?p=747

 

It might bear repeating the lowest price is not always the winning bid. In fact, more often than not the lowest price is not the winner. Product price point is a little like setting employee salaries. So long as the employee believes his or her salary is fair, and so long as it is near industry average and provides a level of comfort the amount goes away as a deciding factor and factors like relationship with one’s manager and co-workers, growth, learning and respect become job satisfaction criteria. In the same way, as long customers feel that they are not being taken ‘for a ride’ and have received fair value the selling conversation will shift from price to criteria like needs’ satisfaction, reliability, after-sales support, prestige, name brand and more.

 

There is always someone or something that is less expensive in one’s category. Yet, the cheapest steakhouse is not always the most popular. There are plenty of diners that serve steak, but they are nowhere near as popular as the more expensive steakhouses. Does Prada sell more hand bags or ‘Joe?’ A Chevy will transport one from point A to point B. Yet, people still buy and drives Acuras, Lexuses and even Porsches. Indeed, the most expensive mobile smartphone is the most popular, Apple’s iPhone.

 

Salespersons need to remove the pricing-only mindset from their heads. Sell the value of the product or service and become comfortable that a less expensive alternative exists, and will always exist, and yet there is a market for other (more expensive) options – ones you might be representing.

 

LOVE ‘EM OR LOSE ‘EM: GETTING GOOD PEOPLE TO STAY BY BEVERLY KAYE AND SHARON JORDAN-EVANS

 Book Reviews  3 Comments »
Nov 212011
 

THE A TO Z OF RETAINING EMPLOYEES BY KEEPING THEM ENGAGED, SATISFIED AND GRATIFIED

 

 

Because everyone likes a good list Love ‘Em Or Lose ‘Em Getting Good People To Stay contains 26 chapters (beginning from A and ending in Z) of strategies, ideas, questions and surveys on how to keep one’s best employees. Written for managers of people, the book offers strategy and advice on how managers can keep their best employees to stay, and stay to be productive and performing.

The book may be considered anachronistic given the tough times, but there is no better time than now to keep one’s top employees and, as such, Love ‘ Em Or Lose ‘Em’s concept would be timeless. Also, remember the book is addressing employees one likes to keep. Whether the book is too liberal or enlightened and how the pressures and deadlines of real life come between theory and practice should not be a hindrance in the adoption of all, several or even just one of these notions.
Personally, using acronyms or colloquial would not be my choice, let alone in a book’s title, but there is a plethora of topics and angles considered here. Here are select notes, which are elaborated on in their respective chapters:

A- In its pages the book features reasons why people stay at their work (page 13: exciting work, career growth, good co-workers, fair pay…), offers ‘Stay’ interview questions (page 15: ask, ask, ask for knowing is better than not and superior to guessing)
B- Managers believe money is the most important factor in making people stay and, not having enough to offer, fear asking employees about their needs and wants. The book argues that, as mentioned, asking is nonetheless a must and indeed managers are the prime reason employees stay or go. One’s manager is where the buck stops. Company culture is important, but managers are more germane. Loyalty is to boss, co-workers and work; not to buildings or brands. Managers need to be held accountable for keeping their employees.
C- Managers need to know their people’s talents, offer perspective, discuss trends, discover options, co-design an action plan and then support it. For instance, a vertical promotion is not always the sole option. A horizontal move may be a better fit and more complementary.
D- The authors argue that everyone is prejudiced one way or the other. As such, conveniences and preferences sometimes masquerade as requirements. Trust the employees and they become trustworthy.
F- The chapter speaks to work/life balance and poses questions such as ‘what is the point of a high-power job that makes you miserable?’ Advice: be caring and flexible. Set clear expectations and explain they need to be delivered, but from there offer flexibility.
G- Not all who want to be promoted will leave if advancement is not available, but good ones will leave if they are not challenged. Other options exist and include lateral movements and relocation. Help your employees with their goals.
H- Managers must hire right fits with patience. Listen to candidates and employees and do not hire in desperation. Embarrassingly, the book references itself and suggests leaving a copy of the book on the table during interviews, thus signalling what a great place the company is. On a more modest note, the authors speak to re-recruiting people.
J- Here is something useful: a ‘jerk’ check list. Do you recognize yourself or someone you know?
K- Have fun at work! It makes people more productive and never compromises results. Of course, it has to be in conjunction with achieving company results.
N- Here the book makes a very good point. If a company loses a piece of equipment, say a computer, the police or security is called in and an investigation is launched. Why is the same care not accorded the loss of an employee? According to the book, and oft-cited statistics, replacing a staff member costs twice the amount of the person’s salary and escalates to three times the annual salary for platinum employees.
T- The book insists on truthfulness and honesty. Managers should be candid and discuss the good and the bad. Confidential company secrets and others’ personal information notwithstanding, information is to be shared. Moreover, the sharing should not be restricted to annual evaluation time. As well, share bad information in-person.

These are just overview samples of the book’s content. One must pick all or the most relevant and commit to them. The book does not drill deeply into any one topic and, therefore, is better suited for quick reference, fast learning and quick practice.

Ultimately, if one believes the content, Love ‘Em Or Lose ‘Em is not just pro employee; it is also pro employer.

Don’t Lose Yourself

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Nov 012011
 

Many a sales technique teaches salespeople to adapt to a methodology and process and follow the ‘rules’ to a successful career and riches.

These sales courses are often beneficial and instructive, no doubt. I have both taken and taught many and remain a supporter of process and methodology.

I sat through a 317 Consulting training recently, which talked about, among other things, Verbal Aikido. Sandler Sales calls it Match & Mirror. These refer to the idea that a salesperson should match his or her words, tonality, posture and emphasis to a prospect’s. They reasonably argue that relating and bonding between buyer and seller are important.

 

Be that as it may, one point should not be lost. Unfortunately, it often is. Salespeople should not override their own personalities to become someone they are not. I often tell my salespeople that there is not one path to success and they should make their personalities work for them. Do not become someone your personality does not allow you to be. Improve yourself, invest in yourself, learn and grow, but do not become someone you do not enjoy being. It will adversely affect your sales.

Do not let your personality become subservient to a script. It is important to remain genuine. After all, every sales training will also tell you to not come across as phoney.

 

 

 

Types Of Marketing Techniques

 Articles, Marketing  2 Comments »
Oct 312011
 

 

 

How many different marketing techniques could you name? Broadly speaking, ignoring the sub-types (like say Guerrilla Marketing), here is a list many of which complement one another and intertwine:

1- Content Marketing: The essence of marketing is propagating content towards a target audience and creating a response and emotion – need or want. Think corporate brochures, but also think more modern and digital techniques as described below. Even media marketing is a type of content marketing. Why did they have a blast in Las Vegas in The Hangover and not in Saskatoon?

2- Program Marketing: Devising programs and incentives to attract one’s target audience to one’s goods or services. Every large corporation has programs to entice its customers or channels to engage and get involved. The goal here is to create a win-win mix.

3- Mail Marketing: Mail as in postal mail. Higher budgeted perhaps, but more and more special and exclusive. American Express occasionally sends out electronic goods to its top borrowers. A corporation I worked for mailed out wine bottles to top customers, while another sent PlayStation Controllers with the promise of a console to follow if certain requests were met. Even simple invitation and seasonal cards are part of this type of marketing. The word ‘chachka’ comes to mind here.

4- Internet Marketing: sub-types include SEO (Search Engine Optimization) where a name, website, key word(s) or description is propelled towards the top of a search engine results (search for ‘best drink in the world’ and lose faith in the Internet when Vodka comes up). E-mail marketing including spam and legitimate opt-in mailing list to an interested targeted audience. With the latter getting the frequency is paramount. Sending too many messages will result in consumer dissonance and legitimate opt-outs, while too few messages lose their efficiency and certainly might leave a potential unfulfilled. Newer and prevalent marketing types that are related are Mobile Marketing (the returning Beavis & Butthead have an exclusive mobile presence on Virgin Mobile phones) and Social Media Marketing, which has transformed Facebook or Twitter from places where people connected to places where brands grab and measure audiences. Adobe, for example, has an active and dedicated group dedicated to measuring, monitoring and engaging buyers, customers and happy/unhappy users on Social Media.

5- A favourite of marketers is Event Marketing. Companies appear and participate at relevant fora where the company’s target audience might be present. Marketers target both horizontal (usually competitive or complementary goods and services) and vertical (value chain) potentials for their business. There is a whole outsourced industry that has sprung up to facilitate event marketing from hospitality and transportation to banners and printed material.

Clearly, all sales are part of the marketing mix (and vice-versa) whether they are inbound, outbound, internet-based or face-to-face. Marketing is about relevancy of material and message.

Perhaps a future article will deal with analytics and monitoring software that has sprung up around marketing. These include the data processed, measured and sold by Facebook, Twitter, MySpace and others.

Do any of these marketing types not belong here? Could you add more?

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