Preparing for the Sales Call

Sales representatives can improve their preparedness by asking and answering for themselves questions such as:

1. What data might help me engage and intrigue my prospect?

2. What is the main objective of my meeting with this prospect?

3. What possible issues might be influencing my prospect’s buying decision?

4. How can I create desire for my product in my prospect?

5. What questions might my prospect ask me and how will I answer?

6. What hurdles can I anticipate between where the sale is now and finalizing the sale?

7. How will my presentation help my prospect understand the value I offer?

Sales Tip: Master the Critical Skills

If you're going to sell more every year, you need to get better every year. Let's look at this a different way. If what you are currently doing would produce the results you are looking for, the results should have already shown up.

So what skills should you focus on improving? Start by honestly answering a few of these questions:

-- How much preparation are you putting into each call?
-- Are the questions you ask thought-provoking or mind-numbing?
-- Do your ideas have value for the prospect or do you find yourself just pitching the "latest" widget from the factory?
-- When was the last time you got feedback on your presentation skills?
-- What are the top three obstacles prospects throw at you?
-- How do you clearly and concisely address these obstacles?
-- What are you doing every week to help build better relationships?

It takes courage to admit you could be a better sales rep and confidence to believe you can change. It takes nothing to create excuses.

There is an abundance of sales books, tele-seminars, podcasts, webinars, and sales training programs available today. What are you waiting for?

Top Digital Trends for 2012

A recent report from eMarketer lists trends and projections for digital usage and marketing for the rest of the year. Many of the trends have significant impact on broadcast television and other media, with the top trends revolving around mobile and online video.

The top tends for 2012 compared to the year before in the U.S.:

• Smartphone users will increase from 90 million to 107 million. Market penetration will reach 44% of mobile phone users.
• Adult ereader users will increase from 33 to 46 million. 24% of Internet users will use an ereader.
• Tablet users will grow from 34 to 55 million. Nearly one-out-of-four Internet users will use a tablet.
• Online video viewers will grow from 158 to 169 million with 71% of Internet users viewing online video
• Mobile video viewers will rise from 45 to 55 million. One-out-of-three online video viewers will watch on a mobile device.
• Online video ad spending will reach $3.1 billion, up from $2.2 billion.

According to eMarketer, video is the fastest-growing segment of online advertising, and for good reason. The amount of online and mobile video content is exploding, and most of this content is supported by some type of video spot -- typically an in-stream ad or overlay.

Further, non-video content is often supported by in-page video ads that expand when the user clicks on them. Video ads are considered more engaging and effective than static banners.

ABC, Nielsen Team To Measure iPad Video Consumption

More big media companies want to determine consumer usage and reach of new digital media platforms.

Now Disney/ABC Television Group has announced an effort with Nielsen to measure video consumption on iPads.

With 55 million different versions of iPads now sold -- and another 3 million new iPads sold in the last few weeks -- the companies say it's important to understand how consumers are using the iPad when watching video.

Nielsen will create a panel by asking 200 people to download a special "meter," which will measure reach, duration, frequency and page views of their iPad apps and Web usage. The opt-in Nielsen iPad panel will aggregate and measure video consumption, app usage and other activity over the course of a year.

The companies believe the study will offer the first view of actual iPad behavior -- as opposed to self-reported data -- along with demographics and other insights.

Disney has been studying consumer tablet behavior for some time, but now wants some deeper data. “Nielsen’s proprietary technology has the potential to deliver unprecedented additional details about consumer viewing patterns,” stated Peter Seymour, executive vice president of strategy and research for Disney Media Networks.

Cheryl Idell, executive vice president at Nielsen, added: “The insight gleaned from this study, using these metering capabilities, is an example of how we meet our commitment to deliver cross-platform understanding to the industry.”

Disney isn't the only media company looking to find deeper analysis. Recently, media agency Group M announced a deal with Nielsen to measure cross-platform -- traditional TV and other digital media -- reach and frequency of Group M clients media campaigns.

Sales Tip: Fundamentals of Sales Success

Five fundamentals for sales success.

It is not an accident that the top producers in the world of selling are at the top. It is also true that there are no born sales champions. Yes, some people have more talent then others. But, success in selling comes down to some basic fundamentals. Fundamentals, if taken action on consistently will lead to success.

1) PROSPECTING: So, what are the fundamentals that all sales champions master? Well, one is Prospecting. Most people don't like to prospect. Me included. But, you have to have someone to sell to. LinkedIn has made the prospecting and networking process more simple and more powerful then it has ever been in the history of selling. Build your network with people who can and want to say yes to your offer.

2) BUILDING RAPPORT: Another fundamental is Building Rapport. It has been said that in a perfect world, people want to do business with their friends. Well, in the imperfect world in which we live, people would still rather do business with their friends. Have we made friends with our prospects and customers? Do you have a plan to do this? A book I have found extremely helpful over the years is Dale Carnegie's classic How to Win Friends and Influence People. I use what I have learned from Mr. Carnegie every day.

3) PRESENTATION SKILLS: The third fundamental is Presentation Skills. Let's be honest. Most sales professionals are lousy presenters. They ramble, They jump from subject to subject. Quite frankly, they confuse and bore the prospect. When is the last time you bought something when you were confused and bored?

4) CLOSING SKILLS: Then, of course, there is the fourth fundamental of Closing Skills. Research shows it takes around 5 closes to begin a partnership with a customer. Many sales professionals know only one or two closes. That is a problem. Closing is a natural part of the presentation process. But it is the scariest for the sales professional as well as the prospect. You must practice and master the closing process so that it becomes natural and not canned. When this is done, is eases the buying tension of the prospect and builds the confidence of the sales professional.

5) CUSTOMER LOYALTY: The fifth fundamental of successful selling is Customer Loyalty. My mentor, Zig Ziglar, says that we as sales professionals have to become assistant buyers to the prospect. Selling is not something you do to someone. It is something you do for someone because you know your product or service is the answer to their challenge. It is not an adversarial process. You are on the same side of the table as the prospect. It is a fundamental belief system that creates loyalty from the prospect but also from you.

Sales Tip: Handling Price Objections

You would think every salesperson would be proficient at handling price objections, considering how often customers push back on price.

In my experience, though, most salespeople can strengthen their skills in this regard. Sorry to be blunt, but too many salespeople are quick to leave profit on the table when they really don't need to.

Here are 3 ways skilled salespeople handle price objections:

1. They don't respond. "What?!" you may be thinking. It's true, though! When a customer first asks for a reduction in price or makes a comment that the price is too high, skilled salespeople simply ignore this. The goal is to determine if the customer is serious.

It is not unusual for customers to ask for a lower price simply because they think that's what they are supposed to do as a customer. They haven't genuinely given any thought to whether the price is accurate or not. Knowing this, skilled salespeople will not even entertain a conversation that focuses on price reduction the first time the customer brings it up.

I have found that this one tactic alone is often enough to move the customer off the price issue.

2. They ask "need-based" questions. Your goal as a salesperson is to always bring the customer back on track to focusing on what they want and need. Through effective questioning, not only will you uncover surface needs, you will discover needs and desires the customer possibly hadn't even considered.

The more you can do this, the more likely it is the customer will see value in what you offer -- and be willing to pay for it. I know it sounds obvious, but it is ridiculous how many selling situations end with a salesperson offering a discount because he or she didn't take the time to understand the customer's needs.

The key to effective questioning, of course, is body language that clearly conveys your confidence in your product and price. If your words are saying one thing, but your body language is conveying hesitancy, the customer will gravitate toward the message from your body language.

3. They don't waste time on customers who aren't willing to buy. This sounds harsh, but let me explain. Skilled salespeople develop an almost uncanny ability to differentiate the customers who are serious about buying from those who perpetually prolong making a decision.

If a customer is persistent in pressing for a price reduction or seems stuck in an unwillingness to buy, your "go to" method should not be to sabotage your profits. You should stop investing time and resources in this customer and instead turn your focus toward prospects and customers who are willing to buy.

The only way this point works is if you have a pipeline full of prospects. I always tell salespeople that if they start banking all their sales numbers on one or two big customers, they are headed into dangerous territory.

The most profitable salespeople are wise about who they spend time with -- and they make sure they have plenty of solid prospects and customers with whom to invest that time.

Domestic Automotive Brands Score Well in Total Value

Volkswagen, Hyundai and Ford are leaders in Strategic Vision's newest Total Value Index study. But for the first time in over a decade, American manufacturers paced the number of Total Value winners in vehicle categories, with 11 segment leaders.

Another big change: four alternative fueled vehicles -- Chevrolet Volt, Honda Civic Hybrid, Nissan Leaf and Lincoln MKZ Hybrid -- led their respective segments. The firm says that in the past, alternative-powertrain vehicles didn't lead because simply offering better fuel economy did not provide enough overall value to make a difference. The Tustin, Calif.-based market research firm says the change implies a watershed moment for acceptance and desirability of hybrids.

"Even though the median price of a Chevy Volt was $43,000, owners believe that for every dollar spent, they got more than did buyers of other vehicles," said Alexander Edwards, president of the company. "Customers had tremendous value appreciation for (the vehicle's) technical innovation, warranty, standard equipment and certainly fuel economy."

In Strategic Vision's study, Volt not only had the highest Total Value score in the Mid-Size Car Segment, but also the highest score of any vehicle in the entire study. Owners may have a predilection to love cutting-edge technology, as they had a median annual income of $133,000, with 37% having post-doctorate degrees, putting them solidly in the early-adopter category. Another alternative-engine vehicle, the all-electric Nissan Leaf, won in its segment for technical innovation and standard equipment.

But Edwards -- giving a nod to the fact that such vehicles still make up only a couple percent of the U.S. auto market -- said cost benefits, not emotions, will be what drives broad acceptance and larger volumes. "A word of caution to manufacturers is to realize potential buyers are smarter and more empowered with information than ever before. A hybrid needs to make sense for larger sales volumes to occur. Hybrid ownership is still primarily 'statement'-driven, but things are changing."

General Motors also had segment winners with Cadillac CTS Sedan and CTS Coupe, Chevrolet Corvette Coupe and the GMC Yukon. Honda had several winners as well, with the Honda Civic Hybrid, Accord Coupe, Odyssey, Ridgeline and Acura TSX Wagon. Hyundai continued its winning streak because of design, features and mileage from models like Tucson. Ford's segment leaders included the Lincoln MKZ Hybrid, Mustang Convertible, Flex, and the F-Series trucks.

Dodge Durango was another winner, and Volvo won because of strong product and comprehensive warranty with several of its vehicles. MINI Cooper won for the seventh year in the Specialty Coupe segment, per the study.

Strategic Vision says the Total Value ranking is a combination of subjective owner statements on 442 attributes combined with what the firm characterizes as immediate and long-term economic factors like warranty, technical innovation, standard equipment, and vehicle mileage ratings. The survey side of the study gets into political party affiliation, personal media habits and hobbies, and any ethnicity they claim.

"The way you become a value leader in this economy is to create an exceptional product that is affordable. Price alone will not determine value," said Darrel Edwards, founder and executive director of Strategic Vision.

(Source: Marketing Daily, 03/16/12)