Belief

 Articles, Management, Marketing, Negotiating, Prospecting, Selling, Selling More  Add Comments »
Jun 052012
 

I firmly ‘believe’ that having belief is one of the keys to success. This is not some spiritual intangible. It is an imperative. Wayne Gretzky, a Canadian hockey player, is often quoted as saying, “You miss 100% of the shots you never take.” It is as simple as that. Believing is about doing. Time and time again when a salespersons is convinced that an effort is futile it becomes a self-fulfilling prophecy. Successful salespeople know that when all hope is lost the worst possible thing to (not) do is to give up. One last e-mail beseeching customers, one more call exploring alternatives, one strategic question to a prospect may turn things around.

One needs belief however. The belief that something may happen. Ironically, it is the more experienced and tenured salespeople that often fall victim to a lack of belief. They internalize the mistakes, failures and objections and project them into various current situations. It should be the opposite. The more pertinent question invoking belief is ‘have I sold before?” or ‘have I interviewed for such a job successfully before?’ or ‘Did I win in a similar situation in the last year?’… then why not again?

Your believing not only determines what you do, but it also determines that you do it. Moreover, it is the duty of the management and company to give, instill and maintain that belief. Salespeople are humans. They need support as much as anybody.

 

Selling Fear And Pain Avoidance

 Articles, Marketing, Prospecting, Selling, Selling More  1 Comment »
Jun 042012
 

People in sales and marketing might occasionally forget or possibly not be able to say what they know as succinctly as ‘fear sells,’ but unfortunately fear does sell. Think about the nightly news where the leading stories are negative items designed to instill worry, catastrophe, disaster or concern into the minds of the viewers “if it bleeds, it leads.” Think about salespeople scaring you that should you not buy X you will lose your health/pay more later/fall behind, etc.

For instance, a security alarm company will never approach homeowners with information such as “99% of houses in your area were not burglarized.” Rather, the message will go something like this: “a house down your street was burglarized. You could be next!” Cue homeowner to order security monitoring for the house.

Another related psychological imperative is the need to avoid pain. People are compelled by the need to avoid pain more instantly over seeking or finding pleasure. Think about it. Does someone want to avoid or escape a predicament first or seek a new pleasure? Pain Avoidance is a prime technique for making pressing sales and accelerating sales velocity. This instinct is inherent in our genes.

In sales the formula for success is quantifying the pain and problem and demonstrating to the customer that the solution being offered costs less than the problem it displaces.

Similarly, the sales collateral, proposals and discussions should be fashioned in the same way.

Examples (with ‘better’ prompting more urgent action than ‘good’):

  • Good: “you can sign our contract and get the product”  Better: “Get the papers out of your hair”
  • Good: “your solution will bear many years of results”  Better: “Your problems are about to disappear”
  • Good: “your promotion is likely” Better: “Your boss will immediately get off your back”
  • Good: “people will enjoy the new menu and word will spread” Better: “No more bad reviews or food poisoning”

However, and very importantly, a salesperson needs to 1- have asked about the pain 2- understood the imperatives (listening skills) 3- quantified the challenge and 4- has calculated a Return On Investment (ROI) aligned to the solution offered. As such, the above

Social Media

 Marketing, Uncategorized  Add Comments »
May 242012
 

It is not news that Social Media is taking on a bigger role. Most people have Facebook, Twitter, MySpace or LinkedIn accounts. Often when I eat at a restaurant I notice a sign proclaiming how a Wagjag or Groupon coupon would not be honoured under certain conditions. Alternatively, the hostess asks whether one is there with a coupon as if the food and service would be diminished. Most have more Facebook friends than actual ones, while LinkedIn and Facebook have been among the top ten largest IPOs of the last couple of years. Many companies such as Instagram have sold at unreasonable valuations.

Many companies have risen to the occasion and become ‘social.’ Whether it is a simple page or account belonging to a business, analytics to measure reaction or specific features such as Social CRM the future is set.

Over the weekend, I came across the two most concrete examples of the benefits of the Social media that I can think of. Agree with them or not, one cannot deny the tangible difference YouTube, Twitter and Facebook have made (in these cases) to the propagation of these the cases. It is not an exaggeration that the characters involved and the points-of-view would not get anywhere near the air they have without Social media participation and technologies. Companies and for-profit entities are a little more beholden to individuals. Here is proof that Social media is having impact far beyond hype.

 

“12-year old Victoria Grant explains why her homeland, Canada, and most of the world, is in debt.” Incidentally, her father works at Reserach In Motion the maker of Blackberry.

United Breaks guitars was a song written in protest by Canadian musician Dave Carroll and his band Sons Of Maxwell when United Airlines broke his guitar in 2008 and (initially) refused to pay for it or admit responsibility. After the initial fiasco, the airline did an about face and nowadays uses the song and video internally.

So what is Dave Caroll up to now aside from strumming? He has turned the publicity that ensued including millions of views of the song’s video on YouTube, which incidentally would never have a chance on a conventional music station, into a business called www.gripevine.com which bills itself as an “online voice” to get problems resolved.

Neither of these instances would have grown so big without the multiplying effect of Social Media and users spreading the word one update at a time.

Leadership And Stereotypes

 Articles, Management  2 Comments »
Apr 222012
 

Could one of the traits of a good leader be erasing and ignoring stereotypes?

Not trying to espouse and pose a rhetorical question, but exploring the question.

Can a good leader erase clichés from his or her thought process and instead turn to assessment, listening, understanding, experiencing and learning instead?

 

Here are some:

  • Men are better executives.
  • Men are more aggressive salespeople
  • Immigrants do not do as well because they do not have local experience.
  • People who work from home are lazing.
  • ‘Command & Control’ gets better results than caring and accommodating.

The point is that these might be true for some people some of the time, but blanket statement and generalities are just that. A good leader listens and understands and draws conclusions based on information – not general and vague assumptions.

And there goes one cliché that needs to bite the dust: being cooperative and helpful detracts from the ‘executiveness’ of a person!

Sage Rebranding? Renaming? Remarketing?

 Articles, Marketing  Add Comments »
Feb 022012
 
UK-based Sage is one of the largest providers of business management software.*
Those following the company know that the firm has been making marketing moves for the last few years focused on the naming and branding of its products. Approximately five years ago the company, which has a slew of products, assigned strategic products to one category (Sage Accpac for example), products that would go into maintenance to a ‘Value’ line (Sage Pro for example), divided everything into Small and Mid-Market and finally decided to push the name ‘Sage’ more and more over its better-known sub brands, which had mostly come under the Sage umbrella following acquisitions.
In North America more people were familiar with Accpac or MAS, ACT or Simply Accounting than they were with ‘Sage.’ Consequent to the decision to rebrand to the mothership the firm began giving more prominence to the word ‘Sage’ on its packaging and on its websites and also pushed the name ‘Sage’ more in its advertising and radio spots. A new logo and simplified design was also introduced.
Of course, some would argue the best rebranding is making one’s products better and better, but to be realistic marketing does move things.
Part of the problem is that now Sage has more than one Sage 50 or 100 across the globe. These products would have the same name, but are not the same products. Additionally, 50 is not upgradeable to 300 is not upgradeable to 500. That seems confusing and a recipe for many customer questions to come. To make things even more confusing several Sage products are not being transitioned to the new naming convention. Sages SalesLogix will remain… Sage Saleslogix. Sage’s bright hope for the future X3 (formerly Adonix) is remaining X3.
The Sage move has been controversial. Sage employees, partners and customers have questioned the move and raised several flags. Sage’s relatively new North American CEO, Pascal Houillon, has been insistent. He used to manage part of the European business in France and is bringing North America in line with the European nomenclature. Last year he had to move to address Sage ecosystem concerns and seems to have somewhat allayed fears about the change.
It is a brave change. Products that have sold millions of licenses are being called something else going forward. Is it worth it? Is it a case of short-term pain for long-term gain? In that case, it is a risk and a brave change. Did I already say that?
The cynic might say that a new CEO would want to have his stamp all over his new job. Another point-of-view is that an ‘outsider’ can look at things more critically and more objectively. The new CEO has less allegiance and nostalgia towards a set of products. 
The ‘Connected Services’ mantra, which describes Sage’s partial and largely incomplete attempt to sell its plethora of products (say Fixed Assets and CRM) horizontally is now also part of the same marketing effort.
 
*I used to work for Sage.

Best Sales Technique

 Articles, Marketing, Selling  Add Comments »
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

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