Last Updated on 01/07/2012
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?
