#1: Their History. Where are they coming from? How did they get here? What do they know about your and your firm? What dealings have taken place in the past?
#2: Frames of Reference. What ideologies and situations might affect their decision-making? Do they have a certain way of viewing your offering? How do they feel about their own firm?
#3: Needs and Desires. Where do they want to go? How do they expect to feel when they get there? How do they think they’re going to get there? What do they think will prevent it?
#4: Likely Objections. What is going to cause them to balk? How fervently do the believe in that objection? How real is it? Might it block the deal, no matter what you say or do?
#5: Capacity to Act. Are you communicating with decision-makers or seat-warmers? If decision-makers, what decision do you want them to make? If not, why are you talking to them?
#6: Decision-making Style. If they’re decision-makers, how do they make decisions? Are they all about facts and figures? Or do they decide according to a gut feeling?
Friday 25 February 2011
6 Questions to answer before closing any sales deal? Based on persuasion
Q1: Have you already helped this customer? If you’ve already helped the customer in some way, that customer will feel obligated to say “yes” when you move to close. Have you, for example, provided a unique industry perspective, or brought your customer a referral for a potential customer?
Q2: Does this customer think your offering is unique or rare? Customers peculiarly value products that are rare or difficult to get. Have you established that your firm is the only viable source for what the customer actually needs, so that customer will perceive your offering as uniquely valuable?
Q3: Does this customer consider you an authority? Have you revealed anything about your specific background or experience that might increase the customer’s perception that you’re an authority and that your firm is reputable?
Q4: Would buying bolster the customer’s self-image? Customers are more likely to buy if buying is consistent with a prior commitment they’ve made in your presence. Have you gotten the customer to define himself or herself as the type of person who truly needs what you’re offering?.
Q5: Does the customer know peers who’ve bought from you? Customers are more likely to say “yes” when presented with evidence that their peers are also saying “yes.” Have you provided the customer with examples and references that match the profile of that customer?
Q6: Does the customer like you personally? Customers are more likely to say “yes” if they know and like you. Have you found similarities between yourself and the customer and raised them to the surface? Have you communicated that you truly respect the customer?
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Q2: Does this customer think your offering is unique or rare? Customers peculiarly value products that are rare or difficult to get. Have you established that your firm is the only viable source for what the customer actually needs, so that customer will perceive your offering as uniquely valuable?
Q3: Does this customer consider you an authority? Have you revealed anything about your specific background or experience that might increase the customer’s perception that you’re an authority and that your firm is reputable?
Q4: Would buying bolster the customer’s self-image? Customers are more likely to buy if buying is consistent with a prior commitment they’ve made in your presence. Have you gotten the customer to define himself or herself as the type of person who truly needs what you’re offering?.
Q5: Does the customer know peers who’ve bought from you? Customers are more likely to say “yes” when presented with evidence that their peers are also saying “yes.” Have you provided the customer with examples and references that match the profile of that customer?
Q6: Does the customer like you personally? Customers are more likely to say “yes” if they know and like you. Have you found similarities between yourself and the customer and raised them to the surface? Have you communicated that you truly respect the customer?
v
Thursday 24 February 2011
How do you sell value?
INCREASE THEIR SALES:
How can my offering uniquely help them improve their revenue? How much more product could they sell? How much are those extra sales worth to them?
REDUCE THEIR COSTS:
How can my offering uniquely help them reduce costs? How much could they save in labor costs? How much could they save in overhead?
IMPROVE THE QUALITY OF THEIR OFFERING:
How much could they save in reworks, scrap, overtime, corrective action costs, and so forth?
How can my offering uniquely help them improve delivery performance? How much would they save in canceled orders, expediting costs, airfreight charges, and so forth?
REDUCE THEIR RISK:
reduce their exposure to risk and liability? How much could they save in penalties, legal fees, and litigation?
By asking those questions, you’re defining the economic value of your offering to the customer.
Then, when you have your initial conversation with your customer, add the following three steps to your sales process:
STEP #1: Get the customer to agree on the specific negative financial impact of the problem.
Work with the customer to define ALL the ways that the problem that your solution addresses impacts their revenue and profit. Include direct costs, lost opportunity costs, personnel costs, etc., etc. Do this early in the sales cycle and make sure that the the decision maker buys into the cost analysis.
STEP #2: Convince the customer that your solution has attributes that no other solution provides.
It’s not enough to be vaguely “higher quality.” You need to be able to express specific quantitative elements of your entire solution that are unique from the competition. Anything that is unique about your solution (even the fact that YOU are the sale rep) is a potential differentiator.
STEP #3: Get the customer to agree on the specific financial impact of your differentiators.
For example, if your products can be at the customer site within one hour, and the low-cost competitors can only get the product there within 24 hours, what how much is it costing the customer to do without the product for 23 hours?
How can my offering uniquely help them improve their revenue? How much more product could they sell? How much are those extra sales worth to them?
REDUCE THEIR COSTS:
How can my offering uniquely help them reduce costs? How much could they save in labor costs? How much could they save in overhead?
IMPROVE THE QUALITY OF THEIR OFFERING:
How much could they save in reworks, scrap, overtime, corrective action costs, and so forth?
How can my offering uniquely help them improve delivery performance? How much would they save in canceled orders, expediting costs, airfreight charges, and so forth?
REDUCE THEIR RISK:
reduce their exposure to risk and liability? How much could they save in penalties, legal fees, and litigation?
By asking those questions, you’re defining the economic value of your offering to the customer.
Then, when you have your initial conversation with your customer, add the following three steps to your sales process:
STEP #1: Get the customer to agree on the specific negative financial impact of the problem.
Work with the customer to define ALL the ways that the problem that your solution addresses impacts their revenue and profit. Include direct costs, lost opportunity costs, personnel costs, etc., etc. Do this early in the sales cycle and make sure that the the decision maker buys into the cost analysis.
STEP #2: Convince the customer that your solution has attributes that no other solution provides.
It’s not enough to be vaguely “higher quality.” You need to be able to express specific quantitative elements of your entire solution that are unique from the competition. Anything that is unique about your solution (even the fact that YOU are the sale rep) is a potential differentiator.
STEP #3: Get the customer to agree on the specific financial impact of your differentiators.
For example, if your products can be at the customer site within one hour, and the low-cost competitors can only get the product there within 24 hours, what how much is it costing the customer to do without the product for 23 hours?
How do I beat my competitors by complimenting them?
Evolution - Describe the industry, market, customer base over a period of time and show what changes have happened. In this model, you can talk about the world of the ’90s, the ’00s and now. By describing the the changes, you can define your competitors’ advantages as addressing a world that no longer exists.
Revolution - Technology, regulation, off-shore competitors and other circumstances revolutionize businesses. Placing your competitors as great pre-revolution solutions is a good way to pigeonhole their value and emphasize yours.
Devolution - The world has gotten smaller — language like “Competition locally required this…, competition nationally requires that…, international competition demands something altogether.” The language of these conversation follows this direction: “Understanding your market as it was until (6 months or a year ago, whatever fits), I completely understand the choices you have made. As a matter of fact, I think under those circumstances, you probably made the best choice at that time. Under the current conditions, I can see why you are exploring new options. Our specialty is helping companies like yours who are in this exact set of circumstances.”
Basically, you’re killing them with kindness and compliments.
Revolution - Technology, regulation, off-shore competitors and other circumstances revolutionize businesses. Placing your competitors as great pre-revolution solutions is a good way to pigeonhole their value and emphasize yours.
Devolution - The world has gotten smaller — language like “Competition locally required this…, competition nationally requires that…, international competition demands something altogether.” The language of these conversation follows this direction: “Understanding your market as it was until (6 months or a year ago, whatever fits), I completely understand the choices you have made. As a matter of fact, I think under those circumstances, you probably made the best choice at that time. Under the current conditions, I can see why you are exploring new options. Our specialty is helping companies like yours who are in this exact set of circumstances.”
Basically, you’re killing them with kindness and compliments.
5 Scientic Ways to be Happier
How can you be happier? Jennifer L. Aaker, a marketing professor at Stanford University’s School of Business, Melanie Rudd, a Stanford MBA student, and Wharton marketing professor Cassie Mogilner, are here to help. Noting that inquiries into money and happiness have found surprisingly few correlations between the two, the trio instead set out to look at the way people spend their time and how that affects happiness. The researchers examined 60 academic studies, then tried to draw links between those findings to draw more general conclusions.
The results? Here are five guidelines they say anyone can use to increase their happiness.
1. Spend time with the “right people.” Sounds simple. But who exactly are the right people? Unfortunately, they’re generally not your office mates, who are the ones people tend to spend the most time with. The people that make you happiest will generally be friends, family, and romantic partners. That’s why one the most powerful influencers of general happiness is whether or not someone has a “best friend” at work and whether or not they like their boss.
Avoid small talk. A related predictor of happiness is how much substantive discussion a person engages in, compared to small talk. Generally, small talk makes people unhappy, and often, work relationships involve a disproportionate amount of small talk. If you want to increase your happiness, it’s far better to find one or two colleagues with whom you can have a real discussion than to engage in small talk around the water cooler.
2. Spend time on “socially connecting” activities, such as volunteering and spending time with friends.
Work doesn’t count. Unless your job is particularly fulfilling and your colleagues are your best buds, work is not ’socially connecting’ and is generally one of the more unhappy parts of the day. Commuting is also gets high marks for making people unhappy.
Volunteering has been proven to be a good way to increase happiness.
Memory is important, because it helps us take an event that happened in the past and extend its ‘worth’ into the future. One way to help choose experiences that will increase happiness is to consider how you might remember them in the future. What are your happiest memories? How might you create more similar memories?
3. Day dream, or, as the researchers say, enjoy the experience without spending the time. As counterintuitive as it may seem, research has shown that the part of the brain responsible for feeling pleasure can be activated just by thinking about something pleasurable. And we often enjoy the anticipation of something pleasurable more than the actual experience that we think is going to be so great. The most common example is vacation planning, which some find more pleasurable than the vacation itself.
4. Expand your time. No, this does not mean you have to find a warp in the space-time continuum (although it might help). Focusing on the “here and now” slows down the perceived passage of time, allowing people to feel less rushed and hurried. How can we do that?
Breathe slowly. Just for a few minutes. As the authors write: “In one study, subjects who were instructed to take long and slow breaths (vs. short and quick ones) for 5 minutes not only felt there was more time available to get things done, but also perceived their day to be longer.”
Volunteering makes it seem like you have more time. In general, spending time on someone else makes people feel like they have more spare time and that their future is more expansive.
Pay people to do the chores you hate. Activities that we choose to do generally make us happier than those that are obligatory. So if you can afford it, hire someone else to do some of the ‘obligatory’ tasks, such as cleaning the house. Then use the time you’ve ‘bought’ not to catch up on work, but to do something you genuinely enjoy.
5. Be aware that aging changes the way people experience happiness. Youths tend to equate happiness with excitement, but as people get older, happiness is associated with feeling peaceful. Young people get more happiness from spending time with interesting new acquaintances, while older people get more enjoyment from spending time with close friends and family.
Do these sound like guidelines you can follow in your own life? What activities make you happy? What else do you think should be on the list? I’m compiling readers’ suggestions and posting the best ones here.
Write down your happy moments. Tim Noyce says he finds “great value” in journaling happy moments or achievements. It’s easy to forget powerfully positive moments, he says. Reading them in a journal is emotionally uplifting.
Take a look at the big picture. Jenyj89 says having breast cancer in 2009 made her reassess her priorities. “Your family should be your WORLD,” she wrote.
Believe in a higher power. Several readers, among them Calil West and 2TallTexan, mentioned the power of God to instill happiness2TallTexan says a belief in the supernatural increases happiness, and that children who believe in Santa Claus and the tooth fairy are happier than those who don’t.
Work out. DataDude1 says he would add “staying physical… Take a break from the computer!”AirGate Solutions agrees: “Get out and exercise!” From Manabozho: “Exercise is huge.”
Do good deeds. Deancubed said, even if you don’t volunteer, “trying at least once per day to do something nice for someone else outside of the norm is a great way to uplift your spirits.”
Find a hobby. Nigel.colter says having a hobby has been “a great source of happiness.” And he notes that it’s widened his social circle as well.
Become an entrepreneur, if you hate your job, Mike Van Horn says.
Jay Taffet writes, “Avoid spam email from the mind.” He says we internalize thoughts like “I’m upset” “I’m anxious” even though we would never say “I’m a hurt elbow” or “I’m a sore knee.” We consider what’s going on with our physical self differently than we do our mental self, even though both kinds of mental messages–”I’m upset” and “I’m a hurt elbow”– can be ignored if we work at it.
Bentonsmom makes a related point: “Your brain responds to what you tell it and this includes the attitude and emotion you say it with… If you tell yourself you are going to have a great day, you will.” She also suggests living with compassion for those around you (hard to argue with that one).
Jim.marks references the work of academic Mihaly Csikszentmihalyi, a professor of psychology and author renowned for his work in the area of positive psychology. His suggestion: Set appropriate goals that provide immediate feedback and measurable progress.
Lyndsay Katauskas recommends women keep a “Have-done” list, or reiterate their accomplishments to a partner each day, to combat the stress of a never-ending “To-Do” list.
Finally, from Mvanderford: “Don’t forget the benefits of a good night’s sleep.” Hear ye, hear ye.
The results? Here are five guidelines they say anyone can use to increase their happiness.
1. Spend time with the “right people.” Sounds simple. But who exactly are the right people? Unfortunately, they’re generally not your office mates, who are the ones people tend to spend the most time with. The people that make you happiest will generally be friends, family, and romantic partners. That’s why one the most powerful influencers of general happiness is whether or not someone has a “best friend” at work and whether or not they like their boss.
Avoid small talk. A related predictor of happiness is how much substantive discussion a person engages in, compared to small talk. Generally, small talk makes people unhappy, and often, work relationships involve a disproportionate amount of small talk. If you want to increase your happiness, it’s far better to find one or two colleagues with whom you can have a real discussion than to engage in small talk around the water cooler.
2. Spend time on “socially connecting” activities, such as volunteering and spending time with friends.
Work doesn’t count. Unless your job is particularly fulfilling and your colleagues are your best buds, work is not ’socially connecting’ and is generally one of the more unhappy parts of the day. Commuting is also gets high marks for making people unhappy.
Volunteering has been proven to be a good way to increase happiness.
Memory is important, because it helps us take an event that happened in the past and extend its ‘worth’ into the future. One way to help choose experiences that will increase happiness is to consider how you might remember them in the future. What are your happiest memories? How might you create more similar memories?
3. Day dream, or, as the researchers say, enjoy the experience without spending the time. As counterintuitive as it may seem, research has shown that the part of the brain responsible for feeling pleasure can be activated just by thinking about something pleasurable. And we often enjoy the anticipation of something pleasurable more than the actual experience that we think is going to be so great. The most common example is vacation planning, which some find more pleasurable than the vacation itself.
4. Expand your time. No, this does not mean you have to find a warp in the space-time continuum (although it might help). Focusing on the “here and now” slows down the perceived passage of time, allowing people to feel less rushed and hurried. How can we do that?
Breathe slowly. Just for a few minutes. As the authors write: “In one study, subjects who were instructed to take long and slow breaths (vs. short and quick ones) for 5 minutes not only felt there was more time available to get things done, but also perceived their day to be longer.”
Volunteering makes it seem like you have more time. In general, spending time on someone else makes people feel like they have more spare time and that their future is more expansive.
Pay people to do the chores you hate. Activities that we choose to do generally make us happier than those that are obligatory. So if you can afford it, hire someone else to do some of the ‘obligatory’ tasks, such as cleaning the house. Then use the time you’ve ‘bought’ not to catch up on work, but to do something you genuinely enjoy.
5. Be aware that aging changes the way people experience happiness. Youths tend to equate happiness with excitement, but as people get older, happiness is associated with feeling peaceful. Young people get more happiness from spending time with interesting new acquaintances, while older people get more enjoyment from spending time with close friends and family.
Do these sound like guidelines you can follow in your own life? What activities make you happy? What else do you think should be on the list? I’m compiling readers’ suggestions and posting the best ones here.
Write down your happy moments. Tim Noyce says he finds “great value” in journaling happy moments or achievements. It’s easy to forget powerfully positive moments, he says. Reading them in a journal is emotionally uplifting.
Take a look at the big picture. Jenyj89 says having breast cancer in 2009 made her reassess her priorities. “Your family should be your WORLD,” she wrote.
Believe in a higher power. Several readers, among them Calil West and 2TallTexan, mentioned the power of God to instill happiness2TallTexan says a belief in the supernatural increases happiness, and that children who believe in Santa Claus and the tooth fairy are happier than those who don’t.
Work out. DataDude1 says he would add “staying physical… Take a break from the computer!”AirGate Solutions agrees: “Get out and exercise!” From Manabozho: “Exercise is huge.”
Do good deeds. Deancubed said, even if you don’t volunteer, “trying at least once per day to do something nice for someone else outside of the norm is a great way to uplift your spirits.”
Find a hobby. Nigel.colter says having a hobby has been “a great source of happiness.” And he notes that it’s widened his social circle as well.
Become an entrepreneur, if you hate your job, Mike Van Horn says.
Jay Taffet writes, “Avoid spam email from the mind.” He says we internalize thoughts like “I’m upset” “I’m anxious” even though we would never say “I’m a hurt elbow” or “I’m a sore knee.” We consider what’s going on with our physical self differently than we do our mental self, even though both kinds of mental messages–”I’m upset” and “I’m a hurt elbow”– can be ignored if we work at it.
Bentonsmom makes a related point: “Your brain responds to what you tell it and this includes the attitude and emotion you say it with… If you tell yourself you are going to have a great day, you will.” She also suggests living with compassion for those around you (hard to argue with that one).
Jim.marks references the work of academic Mihaly Csikszentmihalyi, a professor of psychology and author renowned for his work in the area of positive psychology. His suggestion: Set appropriate goals that provide immediate feedback and measurable progress.
Lyndsay Katauskas recommends women keep a “Have-done” list, or reiterate their accomplishments to a partner each day, to combat the stress of a never-ending “To-Do” list.
Finally, from Mvanderford: “Don’t forget the benefits of a good night’s sleep.” Hear ye, hear ye.
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