How I Generated More Revenues Without Having a Sale!
by: Jonathan Marino
You want more revenue and you want it fast. The marketing experts tell you to “create a compelling offer.” You immediately think “Sale.” You wonder how big the sale should be. How much can I afford to give away before the sale starts costing me money? How will I word the sale materials so customers don’t take advantage of me? The worries start and you realize you have a huge task to pull off this sale and generate real revenue. Unfortunately, in our crowded market place, a compelling offer has become synonymous with a “sale.” There are other, better alternatives to motivate customers to buy from you. This article will show you six options that will accomplish your goal of getting more revenues. These options will build a stronger relationship with your customers that the sale will not accomplish. The Limitations of the “Sale” The fundamental problem with most sales is that they are good for the business but not necessarily good for the customer. A sale usually starts with a business problem you want your customers to solve for you. You need more cash. You have excess inventory. You need to meet sales quotas. You want to get ready for new merchandise. Your sale is asking the customer to solve your business problem. There will always be customers who don’t mind being used. Their agenda coincides with your agenda. Quid pro quo. When you create your offering around something they really value, however, they look on your offering differently. It becomes more than just a customer transaction. It is the start or the continuation of a relationship that will result in sales now and in the future. The customer’s primary concern is always how the product or service benefits them and makes their life better. Six Alternative Offerings Convenience Structure your offering around customer convenience and you have a motivation that does not require sales or discounts. At my daughter’s school recently, the uniform company came to the school to sell uniforms. The parent’s alternative was to drive 30 miles into the city to purchase the uniforms at the company’s store. Parents were lined up forty deep to purchase the uniforms at regular prices. This store made convenience a motivator for the parents to shop. Enhance Your Expertise If your customers are buying your expertise, by enhancing that know-how you give them additional motivation to buy your product or service. Suppose you were in the copywriting business. You announce to your customers that you had just completed a copywriting campaign that generated thousands of dollars for a particular business. Customers now see doing business with you as even more desirable. No discounts; no sales! Self-Esteem and Praise from Others Those who market golf equipment say the main motivation for customer purchases is praise from others. “Great shot, Bob. You’re really driving the ball well!” If your product or service involves these types of motivations, repackage your offering to foster self-esteem and praise from others. It has more power than a sale! Tapping into Social Issues (Idealism) I recently worked with an acupuncture clinic. This form of Chinese medicine can heal many ailments and injuries. We chose to focus their acupuncture marketing on the treatments on athletic injuries because of the current scandals involving the use of harmful drugs and steroids. We presented their offering as a safe and natural alternative to more harmful drugs. By presenting an ideal alternative to a current social issue, no sale or discount was required. You can appeal to your customer’s idealism. Popularity People want to be part of the “in-group.” They want acceptance. By repackaging your offering to emphasize the popularity of your product or service, you give people another motive for wanting to buy from your business. Scarcity Scarcity is another motive that drives customers. It can be expressed in limited product or service quantities; limited editions; selective lines of products; preferred customer programs; limited time; or taking advantage of opportunities. There is some greed in all of us. If we feel we are going to lose out, we get very motivated. Conclusion This article has shown you six alternatives to generate more revenue that don’t involve a sale. When you need a compelling offer, start with the motivations that drive your customers to buy from you and then emphasize these motivations. You will find these motives are just as effective as a sale. They will also help you build a better relationship with your customers because you’re doing it for them! About The Author
Jonathan Marino an internet marketer and founder of http://www.cblinkus.com,new internet marketing concepts newsletter to discover the REAL strategies and Insider Tips
Tuesday, July 15, 2008
Propose
I Propose
by: Kelley Robertson
Many companies and their decision-makers require written proposals, and if you are like many sales people, you probably shudder at the thought of this request. However, writing a good proposal doesn’t have to be painful providing you keep a few points in mind. First, recognize that closing the sale in a business proposal is a process, not an event. It doesn’t occur just because you have asked for a commitment or because you have presented all the features and benefits of your product or service. When a customer or prospects agrees to do business with you after reviewing your proposal, it means that you have addressed their key issues and demonstrated exactly how your solution will benefit their company. This requires a bit of strategic planning. Unfortunately, too many sales people spend too much time talking about their company, product or service at the beginning of the proposal. The drawback with this approach is that decision-makers are extremely busy which means they don’t want to waste their time reading something that has little or no relevance to their situation. Salespeople will argue that this information is critical and that they need to present it in order to show how their solution is appropriate to the customer’s situation. While this is true, it is essential to direct your initial focus on the customer and demonstrate that you have a good understanding of your prospect’s issues and concerns. Great proposals often start with an executive summary which highlights the prospect’s current situation or problem and how this issue is affecting the company. This means you need to ask your prospect key questions during your conversations. In the hundreds of sales training workshops I have conducted over the years, I have discovered that the vast majority of sales people fail to ask their prospects sufficient insightful, thought-provoking questions. As a result, they fail to understand the negative impact of a particular problem on the company’s business. However, stating the impact of the problem in your proposal can reinforce to the decision-maker, the importance of implementing a solution. Closing the sale in a proposal means positioning your solution and demonstrating exactly how your prospect will benefit by using your product or service. Far too many sales people forget this critical element. They discuss many of the features and benefits of their solution but they fail to outline the impact of their solution on the prospect’s business. The challenge is that the majority of sales people do not discuss this with their prospect. Therefore, they cannot address it in their proposal. Reduce the prospect’s risk. Many people would rather tolerate working with a vendor who is not performing well rather than make a change because of their fear of the unknown or the pain that is often associated with making a significant change. I once retained the services of a particular individual even though I was not completely satisfied with his work simply because I dreaded the hassle of finding a new vendor. If this is a potential concern of your prospects, then offer some type of reassurance or guarantee to reduce or eliminate this fear. Closing the sale in a proposal also requires some form of action or commitment. Ending your proposal with a feeble statement such as, “If you have any questions please let us know” is not effective. It is essential that you clearly outline the next step(s) you expect from your prospect along with a time frame. Lastly, keep your proposal as brief as possible. Unless your solution is extremely complex, you need to keep it short, clear and concise because executives simply don’t have time to read a fifty page document. Besides, short proposals are usually much easier to read and understand. I recall the very first proposal I was required to present. Because I didn’t know any better, I only included information that I felt was relevant to my prospect and was able to outline a thirty thousand dollar project in just three pages. After we reached an agreement I asked what influenced their decision and was told, “Your proposal was easy to understand.” The bottom line? If you have asked your prospect enough of the right questions and positioned your solution in a manner that demonstrates exactly how your solution is the best one for your prospect, and removed the risk, you increase your ability to close the sale. © 2008 Kelley Robertson, All rights reserved.
About The Author
Kelley Robertson, author of The Secrets of Power Selling helps sales professionals and businesses discover new techniques to improve their sales and profits. Receive a FREE copy of 100 Ways to Increase Your Sales by subscribing to his free newsletter available at www.kelleyrobertson.com. Kelley conducts workshops and speaks regularly at sales meetings and conferences.
by: Kelley Robertson
Many companies and their decision-makers require written proposals, and if you are like many sales people, you probably shudder at the thought of this request. However, writing a good proposal doesn’t have to be painful providing you keep a few points in mind. First, recognize that closing the sale in a business proposal is a process, not an event. It doesn’t occur just because you have asked for a commitment or because you have presented all the features and benefits of your product or service. When a customer or prospects agrees to do business with you after reviewing your proposal, it means that you have addressed their key issues and demonstrated exactly how your solution will benefit their company. This requires a bit of strategic planning. Unfortunately, too many sales people spend too much time talking about their company, product or service at the beginning of the proposal. The drawback with this approach is that decision-makers are extremely busy which means they don’t want to waste their time reading something that has little or no relevance to their situation. Salespeople will argue that this information is critical and that they need to present it in order to show how their solution is appropriate to the customer’s situation. While this is true, it is essential to direct your initial focus on the customer and demonstrate that you have a good understanding of your prospect’s issues and concerns. Great proposals often start with an executive summary which highlights the prospect’s current situation or problem and how this issue is affecting the company. This means you need to ask your prospect key questions during your conversations. In the hundreds of sales training workshops I have conducted over the years, I have discovered that the vast majority of sales people fail to ask their prospects sufficient insightful, thought-provoking questions. As a result, they fail to understand the negative impact of a particular problem on the company’s business. However, stating the impact of the problem in your proposal can reinforce to the decision-maker, the importance of implementing a solution. Closing the sale in a proposal means positioning your solution and demonstrating exactly how your prospect will benefit by using your product or service. Far too many sales people forget this critical element. They discuss many of the features and benefits of their solution but they fail to outline the impact of their solution on the prospect’s business. The challenge is that the majority of sales people do not discuss this with their prospect. Therefore, they cannot address it in their proposal. Reduce the prospect’s risk. Many people would rather tolerate working with a vendor who is not performing well rather than make a change because of their fear of the unknown or the pain that is often associated with making a significant change. I once retained the services of a particular individual even though I was not completely satisfied with his work simply because I dreaded the hassle of finding a new vendor. If this is a potential concern of your prospects, then offer some type of reassurance or guarantee to reduce or eliminate this fear. Closing the sale in a proposal also requires some form of action or commitment. Ending your proposal with a feeble statement such as, “If you have any questions please let us know” is not effective. It is essential that you clearly outline the next step(s) you expect from your prospect along with a time frame. Lastly, keep your proposal as brief as possible. Unless your solution is extremely complex, you need to keep it short, clear and concise because executives simply don’t have time to read a fifty page document. Besides, short proposals are usually much easier to read and understand. I recall the very first proposal I was required to present. Because I didn’t know any better, I only included information that I felt was relevant to my prospect and was able to outline a thirty thousand dollar project in just three pages. After we reached an agreement I asked what influenced their decision and was told, “Your proposal was easy to understand.” The bottom line? If you have asked your prospect enough of the right questions and positioned your solution in a manner that demonstrates exactly how your solution is the best one for your prospect, and removed the risk, you increase your ability to close the sale. © 2008 Kelley Robertson, All rights reserved.
About The Author
Kelley Robertson, author of The Secrets of Power Selling helps sales professionals and businesses discover new techniques to improve their sales and profits. Receive a FREE copy of 100 Ways to Increase Your Sales by subscribing to his free newsletter available at www.kelleyrobertson.com. Kelley conducts workshops and speaks regularly at sales meetings and conferences.
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