20Sep/060

Customer Loyalty Takes Creativity

A few years ago I started using a credit card that rewards me with frequent flyer miles. The idea sounded great at the time. I use my card a lot on business and with all the flying I do, I figured I could look forward to several "free" flights by cashing in the mileage points I accumulate.

Boy, am I naïve (it sounds nicer than saying I'm stupid)!

I recently visited the airline's website to book a seat for a golfing vacation and quickly learned my choices were few and far between. I don't suppose the golf courses in Syracuse, New York are very inviting in February. Unfortunately, though, that's about as close as I could get to the time when Id' like to tee off in September.

Frequent flyer programs sound like a great incentive; however, with fewer scheduled flights, most of which are full, the chances of you going where you want to go, when you want to go, are remote indeed.

The good news is the credit card companies are responding to this problem and broadening their incentive programs as a way to retain and secure current and future customers. American Express cardholders, for example, can now trade skymiles points for concert tickets instead of an airline ticket to a destination they probably don't want to visit anyway.

Meanwhile, Visa executives believe the benefits of knowing what rewards resonate with customers is of tremendous value for them in the market. For example, they researched data from 65 million credit card holders to determine their buying habits. In turn, they use this data to advise the merchants in niche markets about the products their customers are buying on credit. The merchants are then able to set up special events to attract these types of buyers, most of whom make their purchases on a Visa credit card.

The result: everyone wins!

How does your company build loyalty with its customers? Do you offer incentives to your customers? It's great if you do; however, when was the last time you checked to see if the rewards you offer are benefits your customers want and use? Furthermore, are they comparable or better than what your competition is offering?

Don't assume your customers will remain loyal to you just because you've done business with them in the past. The truth is that customer loyalty is often up for sale to the one who brings the most value, so you'll have to offer your customers lots of reasons for them not to change suppliers.

Lastly, never forget, your best customer is someone else's AAA prospect!

Here is a great site that tells you how Frequent Flyer programs work.

Submitted by: kevin

19Sep/060

Promise a Lot and Deliver Even More


This past week Andy and I attended a conference entitled "The Future of Web Apps" in San Francisco. We attended this conference to help us improve our follow-up and reinforcement programs and get some new ideas to bring you more and better information. We accomplished our goal but I also realized that there is selling in everything.

The CEO of Techcrunch, Michael Arrington, was speaking about what companies are doing wrong. He mentioned a web browser called "Browzer" that promised a lot but did not deliver on those promises.

Browzar promised that their web browser was going to be very secure, easy to use, and it was a small download. After a couple of months of use by the consumer, people started to look at the browser and it didn't do anything that had been promised. The browser forced them to use their home page, their advertising ads, it was close to an Internet Explorer shell, and most of all, it didn't work as promised.

One thing I found very interesting was he mentioned that if Browzer had said up front what it "would" do, they may have been okay and they could have been a success.

The Brooks Group has always taught to promise a lot and deliver even more. Here are five specific steps that you can implement immediately:

1. Be careful not to over-commit your time, support or organizational capabilities. Promise a lot, and deliver more. Doing so will require harder work, better systems and more consistency.

2. Manage your time and activities carefully. Don't get caught in the activity trap. The only inventory a salesperson has is time, so you're going to have to learn how to manage your priorities, manage yourself, and manage your time so that your activities take you to exactly what you promised you would deliver.

3. Monitor all production and delivery schedules daily. Even if you're in an environment where you turn the delivery and service over to someone else as soon as you complete the sale, it's in your best interest to manage production and delivery. In your client's mind, you are the organization - they only know your name and your face. If there's a problem, it's going to reflect badly on you, regardless of whose "fault" it really is. You have to be able to expedite things with the right people in your organization or you're going to end up looking bad to your customer.

4. Allow time for prospecting, selling, servicing and supporting customer commitments on a regular basis. Building specific time into your schedule for these activities on a regular basis will ensure that you don't "drop any balls" even when you're juggling multiple obligations.

5. Maintain emotional equilibrium in the face of demands, difficulties and changing priorities. Like buying, selling is emotional. You have to be sure that you manage your problems and your negative emotions so that they don't interfere with your ability to focus on your customers.

The benefits of consistency are obvious: you get a long-term relationship with your client and opportunities to sell more. You also build an outstanding reputation with a far greater chance of getting referrals. Ultimately, you remove the distrust that leads to resistance. Without resistance, the entire process of prospecting, selling and servicing becomes faster and easier. Consistency is quality and quality sells. To be highly uccessful in sales, you only have to be 2-5% better than your competition. There's not much competition if you're predictable and consistent. Simply deliver what you promise
every time.

Submitted By: jared

18Sep/060

Your Monday Morning Myth {9.18.06}

13Sep/060

20 Questions Every Salesperson Should Ask Themself Before Any Appointment

This post is a follow-up from Kevin's post, "There's No H In My Name"

It's game day! You finally scheduled the meeting you wanted with that important prospect, and you're feeling good about your chances at making the sale. Now you have to guarantee your appointment will shine. How? If you can answer these 20 questions satisfactorily, you are prepared to make the sale.

  1. Have I done my research ahead of time?
  2. What have I learned about this prospect?
  3. Have I developed an internal advocate at the prospect's place of business and what have they told me?
  4. Who am I competing against for the business?
  5. What do I know about my competition's strengths and weaknesses?
  6. What are my products' strengths and weaknesses?
  7. What is the buying cycle of my prospect?
  8. What are their budget constraints?
  9. What are the prospect's previous buying habits?
  10. What problems can I solve for the prospect?
  11. How receptive is this prospect to new ideas?
  12. Who am I meeting and how do I pronounce their name(s)?
  13. Who else makes up the prospect's internal support team? (Buffer? User? Internal Advocate? Check Writer?)
  14. What position(s) do they hold within the company?
  15. Have I confirmed the appointment?
  16. Do I know how to get to the appointment location and how long it takes? Did I pack the directions? Did I build in an extra 20% worth of travel time?
  17. Do I have everything I need for the appointment? (Relevant documents, pens, paper, brochures, business cards, calculator, testimonial letters, etc.)
  18. Did I prepare questions in advance and do I have them with me?
  19. Am I mentally prepared for the meeting? (Is my focus 100% on the meeting or is it elsewhere?)
  20. Am I physically prepared for the appointment? (Clothes neat? Hair combed? Shoes shined?

Submitted by: bill

12Sep/060

First Impressions In A Flash…

Do you remember that old Head and Shoulders TV commercial that said, "You never get a second chance to make a first impression." Most people agree that first impressions are lasting, but just how long do you have to make that first impression? Some experts say that upon meeting someone you have 19-34 seconds. If you thought that was fast, listen to what a study out of Princeton University concludes -- it's much faster.

Researchers asked 200 people to make judgments about 66 faces of which they saw for only a fraction of a second. What they discovered may amaze you. It takes people as little as one-tenth of second to decide if a person is attractive, trustworthy, competent and likable. Furthermore, according the article about the study that appeared in the journal Psychological Science, the first impression made after that first one-tenth of a second differed very little with impressions made with no time limits.

So what's that mean to salespeople? You'd better look your best, because your prospects are sizing you up quickly and making strong judgments about you long before you ever get the chance to show them what you're trying to sell.

Submitted by: kevin