"stop Educating Your Prospect!"

Companies spend thousands of dollars every year building product knowledge "Universities". They send their sales people to these product schools to learn the features and benefits of their products. They have them go through the process of becoming "product" experts, with the hope that the expertise they gain will propel them to sales success.

Unwittingly, they promote and fund a process that ends up creating "non supportive beliefs" in the minds of their sales people that can actually inhibit their success and lose them both sales revenue and profit margins. Those beliefs include the following:

Disseminating product knowledge to my prospect will build my credibility and make sales.

In order for the prospect to understand the value of my offer I must educate them.

Unfortunately, we have found this type of thinking, or "non supportive beliefs", end up creating very difficult selling problems. Once we understand the problems these non supportive beliefs create we can begin to change both our thinking and behavior that will lead us to greater success in sales.

Although being credible to your prospect is important , we believe that having them trust you to provide a solution that will limit the risk they take in making a decision to buy from you is much more important. The way you build that trust is by demonstrating to your prospect, through a complete understanding of their problems, that you reduce the chance of making a mistake in the recommendation you make.

Logically, to gain an understanding of what your prospect needs, would require us to ask questions. Through your questions, you gain a greater understanding of their situation and thereby lower the risk of making a recommendation that is inconsistent with what they need. Asking questions about typical problems and understanding the impact they have on your prospect is much more important than giving out information.

Also, we have found that educating your prospect about your value allows them to use your information and recommendations as a way to "shop" you against the competition, frequently building RFP's and RFQ's around the unique value you have educated them about. This "shopping" model allows them to get competitive bids built around your recommendations that literally extinguish your value and end up creating sameness. This "free consulting" is particularly frustrating and damaging to our technology and intangible service customers.

Educating your prospect may make you feel good but it will end up being your downfall. It's a dead end street that will force you to define your difference by a low price!

"...what Makes You Better?"

Sales people are frequently confronted by this question on sales calls, along with some others like "why should I buy from you/your company?" or "what makes you different?". In fact, as identified in my last post, they have probably spent a lot of time at "Product Knowledge U" learning exactly how to answer these questions. In reality, answering questions like these usually end up putting you on the defensive and will not give you the advantage you are hoping for.

Think about it for a minute... if you answer that question you immediately sound like all of the sales people that have come before you, as well as those who will follow you. By answering the question you create "sameness" and a belief in the mind of the prospect that you are just like everyone else. You must also consider that everything you say will be considered as "sales fodder" and is often listened to with skepticism and from an "oh sure" perspective.

Obviously, there are many different situations in which this questions can be asked. Are they currently buying this product from someone else. Is this a product they have bought in the past, or is it a product they have never bought? Knowing which situation you are in will help you determine how best to proceed. Rather than answer the question, you might want to say "I'd be happy to tell you but I'm curious, is this a product that you have used in the past or are currently buying?". Their answer will be a valuable piece of information from which we can plan our next question.

If they are currently using or have had past experience, it would make a lot more sense to find out what they have used in the past. If they are looking to make a change "what would they like to see different?" This is a questions that would get us information that would begin to form our offer, or identify that we don't have what they want. Remember too, if they are not buying or have not used before, giving away your information can now become a shopping list that will allow them to compare you to the competition and "commoditize" your offer.

Not always, but often times the best answer to a question is another question. By not answering the question but rather asking:

"Was there something that you were hoping would be better?", or

"if we could offer something different or better what were you hoping for?"

With these questions you end up with the chance of finding out exactly what they are looking for and can craft your response based on the feedback you get.

It takes some courage and emotional control to respond this way but you'll find it will put you in an entirely different light with your prospect. Stop answering "what makes you better" and you'll get better information that will help you make more sales!

Commercial Identity

The name you select for your business, product or service explains who you are or what you sell. It identifies what sets you apart in the marketplace. It helps determine how you’re perceived. Be sure that your name communicates exactly the right message. You can generate names on your own or consult an ad agency, design house or marketing firm that specializes in naming. Either way, it’s best to begin by examining the commercial names around you and evaluating their effectiveness. Look at car names, for example, and think about what they mean and why they were chosen, from a marketing standpoint. The first step in generating company names is to pinpoint three to five attributes or benefits – marketing positions -- that make your company special. These could be a hot-button feature common to all your products or services, the range or specialization of your inventory, or key user benefits such as economy or peaceof mind. In other words, the reasons customers decide to choose you over the competition. Consider, as well, three to five personality traits you might want to communicate, such as friendliness, skill, innovation or elegance, focusing on qualities your target customers will appreciate. There’s light-heartedness, for example, in the names of the massage center Nice to Be Kneaded and the computer consulting firm Rent-a-Nerd. For each benefit or personality trait, make a list of all the names that come to mind. These may be words or phrases associated with the benefit or trait. They may be words for ideas or objects that evoke that trait or benefit the way the clothing store Headlines, for example, evokes newness and excitement and the California high-tech firm Oracle evokes visionary power. If you want your name to include your type of organization (e.g., “company”, “group”, “corporation”, “electrical supply”), try out the names you generate with your organizational word to make sure you have pairs that work together.

Automatic Responder- The Power Of Autoresponders

An individual business owner and trying your best to get by in the e-commerce world? Surely you get tired of answering the same repetitive questions every day, but you must remember that customer service is a key factor of running a successful business. If you have a designated e-mail address to answer customer service inquiries, you might want to look into autoresponders as a tool to make your life easier, or even replace an employee!

Autoresponders are one of the most underused and useful technologies available to business owners today. They can be used for everything from automated replies to common questions to a carefully scripted series of sales letters to your customer base for an ongoing stream of income. The power of this technology can turn the corner for a business looking for profit.

Autoresponders are so economical, you might think to yourself, “Why didn’t I do this earlier?” Just as any other software or computer application, there are free and cheap ways of getting by. Autoresponders are great for answering frequently asked questions, and advertising. What’s better than free or cheap advertising? Nothing… A few ways that an autoresponder will positively revolutionize your business:

1. You can distribute what’s known as a newsletter or e-article to all of your customers. This can include specials, news, and other positive things to keep your customers coming back.

2. Update your customers with information which other business don’t do, and make your business-customer relationship feel more personal.

3. You can distribute your mass e-mails to clients with autoresponders, vs. sending e-mails one by one.

4. Update clients with information on new products that you have when they have completed their courses.

5. Have fun with your customers! Create contests, and even interactive games like puzzles. Make an incentive like a discount on their next purchase.

Presentation Strategies That Sell Your Prospect Now

The heart of the sales call is the presentation. Your future customer has a number of questions which must be answered during your presentation:

Why? “Why should I listen to this salesperson? What can he show me that will benefit myself and my company?” Give the prospect a quick glimpse of the end results. For instance, you might mention at the beginning of the presentation that your program will eliminate his constant involvement in administering his present system.

What is it? “Exactly what are your products and services?” To answer this question you must demonstrate your products, show how your different systems work, and emphasize quality characteristics. Vividly establish the balance sheet for your future customer. Discuss the strengths and weaknesses of the current system and make a comparison to what you have to offer.

Who says so? “The prospect must know who will back up or validate your claims and promises. Stress your reputation. Present the fact that your company has been in business for x number of years, that you have been innovators in your field, or that you have just started a new division that has been very successful within the last few years.

Who did it? “Who has successfully used your products and services and has had satisfactory results?” Most people do not want to be pioneers. Testimonial letters and an invitation for your prospect to call existing customers at the time of the sales call will have a dramatic impact.

What do I get? This is where you add it all up. Summarize the benefits that your program or product has for the customer and ask for his commitment.

Power Strategies:
Keep the Presentation Simple
Know your Product and Competition Cold
Sell Smart by Being a Know it All
Direct your Presentation to the Prospect’s Need
Do not Make a Presentation if Unnecessary

Next Article: 7 More Guidelines for Effective Presentations

It Is How, Not What You Say

The words we use and the way in which we use them can have a huge impact on how we are perceived by our audience. As Mark Twain said, “The difference between the right word and the wrong word is the difference between lightning and a lightning bug."

The airline industry has some good examples of creative packaging, too: “delayed” instead of “late” and “flotation device” instead of “life preserver.” If we examined other industries, the list could go on and on. You can take a cue from these industry giants by employing a bit of your own verbal packaging. That is, it would be a great idea for you to develop your own list of words and phrases that are relevant to your industry or topic. That way, you will have alternatives in your persuasive toolbox for words that may be jarring or have negative connotations.

Other ways you can make your language more effective are to use words like “we” and “us” more. That way, you can engage your audience and create a cooperative, “we’re in this together” feel to your presentation.

You might also consider making your language verb-oriented. Doing so gives your speech a feeling of energy, momentum and vitality. When you’re really trying to paint the picture and help your prospects feel like they’re in the actual situation you’re describing, use vivid language.

As a generally rule, and particularly when you’re trying to get a key point across, always lean toward being concise rather than verbose. If you can get the point across in five words instead of ten, then don’t complicate your message by trying to be flowery and clever. Chances are people will start thinking about how pretentious you are rather than focusing on the point you’re trying to get across. As we were discussing in relation to structuring your message, it holds true here as well that clear and concise are your safest bets.

Business Domain Name Success - Choosing A Domain Name

Choosing a business domain name can be one of the most important decisions you make. You can even sell domain names if you buy them as an investment.

Domain names are important to all businesses. Why? It’s as important to any e-commerce business as it is to a retail business. Your name means a lot, and you want something to stick when people hear it. If your domain name is concise, you are more likely to sell it for more, and profit more than long ones.

There are more ways to earn more with the sale of domain names, doesn’t that make you happy? Many people have made fortunes with the sale of domain names, and you can too! Many people like you and me have bought popular domain names as soon as the original owner forgets to renew it. If you buy a domain name, and the owner wants it back, you can ask for whatever price you want! You can easily make money if you’re smart about your domain buying.

There are tons of domain investors who check the availability of domain names. Many can sell these domain names and even lease the domain names so they can earn extra money. If you ever tried to find that perfect domain name for your business then you know it can be expensive if someone else already owns it for an investment.

You can also buy domain names that are generic, then sell the domain name to people in the industry involved with that name. For example, you can buy http://www.hamburger.com, and sell it to http://www.McDonalds.com. Why is that? Because McDonalds might want to take the traffic from http://hamburger.com, and use it to their advantage! Of course something like that example is long gone, but there are always other opportunities on a smaller scale. Just like any other business, making money in this is going to take practice, trial, and error. Nothing is easy, so if you make mistakes or lose money in the beginning, don’t give up!