tag:blogger.com,1999:blog-75423086712624923372024-02-20T22:02:04.738+11:00Boiler's BlogBanjar Group — Insights on the World of Sales.Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.comBlogger49125tag:blogger.com,1999:blog-7542308671262492337.post-14791301638368251922012-11-29T10:04:00.000+11:002012-11-29T10:04:03.984+11:00Farewell Zig Ziglar<a href="http://2.bp.blogspot.com/-ndNGQVRrrbo/ULaXhtA6faI/AAAAAAAAAFs/cwZv-BYt6I0/s1600/541101_10151093860383907_832407924_n.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="150" src="http://2.bp.blogspot.com/-ndNGQVRrrbo/ULaXhtA6faI/AAAAAAAAAFs/cwZv-BYt6I0/s200/541101_10151093860383907_832407924_n.jpg" width="200" /></a><br />
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Motivational speaker Zig Ziglar died in Texas on Wednesday, aged 86. He had been suffering from pneumonia.</div>
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He wrote more than 30 books and and was well known for is corporate training and motivational speeches. </div>
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"See you at the Top" was not only his catchphrase but also the title of his first book.</div>
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I have included here a copy of Seth Godin's blog that outlines the great inspiration Zig Ziglar was.</div>
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<blockquote>
Thank you, Zig<br />My teacher Zig Ziglar died this morning. He was 86.<br />Thanks for teaching me how to sell and why it mattered.<br />Thanks for reminding me how much it mattered to care.<br />Thanks for telling us a fifteen-minute story about Johnny the Shoe Shine Genius, so compelling that I flew to the airport just to meet him.<br />Thanks for 72 hours of audiotapes, listened to so many times I wore out the cassettes <em>twice</em>.<br />Thanks for that one day we spent backstage together in Milwaukee.<br />Thanks for making goal setting so clear.<br />Thanks for elevating the art of public speaking, and making it personal, not something to be copied.<br />Thanks for believing in us, the people you almost never met in person, for supporting us with your voice and your stories and your enthusiasm.<br />Thanks for teaching so many people, people who will continue to remember you and to teach as well.<br />You'll be missed.</blockquote>
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Boiler<br />
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<span style="border: 0px; font-family: Arial; font-size: 12px; line-height: 12px; margin: 0px; outline: 0px; padding: 0px; text-align: left; vertical-align: baseline;"></span>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com1tag:blogger.com,1999:blog-7542308671262492337.post-31141644210971093012012-11-27T14:10:00.000+11:002012-11-27T14:12:35.607+11:00My 7 Best Books for 2012<div class="separator" style="clear: both; text-align: center;">
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<a href="http://3.bp.blogspot.com/-x0vo_oX0JsU/ULQurcGquJI/AAAAAAAAAFc/bH8Vl7jTcx4/s1600/iStock_000016176583Small.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="212" src="http://3.bp.blogspot.com/-x0vo_oX0JsU/ULQurcGquJI/AAAAAAAAAFc/bH8Vl7jTcx4/s320/iStock_000016176583Small.jpg" width="320" /></a></div>
Here is my reading list for this year. These fine books inspired me, encouraged me and changed my thinking. What will you do with them in 2013?<br />
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Enjoy!<br />
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<b><i>To Sell is Human</i></b> by Daniel H. Pink - Explore the power of selling in our lives.<br />
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<i><b>SPIN Selling</b></i> by Neil Rackham - A book I revisit year in, year out. There is always something to pick up on to improve sales performance effectiveness.<br />
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<b><i>Sales Cats V2</i></b> by Mike Boyle - Yes gratuitous self promotion I know, but version 2 has a significant change. Can you pick it out? It may make a difference in your salesmanship!<br />
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<b><i>Good to Great</i> </b>by Jim Collins - Haven't got the time to spend investigating what you company needs to become a great one? This book has done all the research and discovered the distinguishing characteristics that cause a company to go from good to great!<br />
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<i><b>Outliers</b></i> by Malcolm Gladwell - What makes high achievers different? Gladwell brilliantly explores why your personal upbringing and where you are from play such an important part in your success.<br />
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<b><i>Switch </i></b>by Chip and Dan Heath - How to we balance the rational mind with the emotional mind to achieve change in our business and personal lives? In this book we learn why and how!<br />
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<i><b>Tested Sentences that Sell</b></i> by Elmer Wheeler - A classic read for any salesmaker. Learn how to uncover the most persuasive benefits in everything you sell. As Wheeler says, "learn to sell the bubbles not the wine"!<br />
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Let me know of any great reads you have discovered this year. I can add it to my holiday reading list!<br />
<br />
Boiler.<br />
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<br />Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com2tag:blogger.com,1999:blog-7542308671262492337.post-25950312501748400642012-11-01T10:19:00.000+11:002012-11-01T10:19:07.495+11:00Storytelling for business - who would have thought!<div class="separator" style="clear: both; text-align: center;">
<a href="http://2.bp.blogspot.com/-ZzwA0d28ozI/UJGxajqju4I/AAAAAAAAAEs/NmL1w-GWhNY/s1600/storytelling+in+business.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="241" src="http://2.bp.blogspot.com/-ZzwA0d28ozI/UJGxajqju4I/AAAAAAAAAEs/NmL1w-GWhNY/s320/storytelling+in+business.jpg" width="320" /></a></div>
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="line-height: 21px; text-align: left;">You all know I like a good story. It's about the shared experience.</span></span><br />
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="line-height: 21px; text-align: left;"><br /></span></span><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="line-height: 21px; text-align: left;">Amazingly in this tecnological age, storytelling is making a comeback. Technology is allowing us to share stories in so many ways: video, audio, mp3, </span><span style="line-height: 21px;">pintrest, youtube, animoto etc etc etc.</span></span><br />
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="line-height: 21px;"><br /></span></span><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="line-height: 21px; text-align: left;">In business, storytelling is keeping customers engaged. Interested in our company, our products, our services, our developments. The power of this connection lays in the customer seeking out more about us!</span></span><br />
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="line-height: 21px; text-align: left;"><br /></span></span><span style="line-height: 21px; text-align: left;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">When it comes to brands and marketing, the application of story now needs to go beyond the traditional and ubiquitous tool of brand story; rather, it’s about engaging consumers in a brand’s stories and using the construct of stories and storytelling to create powerful connections. While the transition to digital media drove a focus toward content, today with ever more social tools and communication media, there’s a need for cohesive and meaningful connections in a marketing world that is now labeled “always on,” demanding more of brand communication. This is where story comes into play.</span></span><br />
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<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="-webkit-font-smoothing: subpixel-antialiased; border: 0px; line-height: 21px; margin: 0px; outline: 0px; padding: 0px; text-align: left; vertical-align: baseline;">Kathy Oneto is vice president of brand strategy at Anthem Worldwide and has great insight on the subject.</span></span><br />
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<span style="line-height: 21px; text-align: left;"><i><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><b>"Why stories?</b> It seems we’re all catching on to their effectiveness in connecting with people. When information is communicated in story form, we seem to remember it better and be affected by it more deeply. Brands are telling these stories across a number of different mediums--from packaging to video to visual and verbal content."</span></i></span></blockquote>
<span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; line-height: 21px; text-align: left;">Some tips on storytelling can be found from research consultancy Latitude, which recently released part one of its study</span><span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; line-height: 21px; text-align: left;">,</span><span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; line-height: 21px; text-align: left;"> </span><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="-webkit-font-smoothing: subpixel-antialiased; cursor: pointer; font-style: inherit; line-height: 21px; text-align: left;">“The Future of Storytelling,”</span></span><span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; line-height: 21px; text-align: left;"> </span><span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; line-height: 21px; text-align: left;">which identifies trends and audience attitudes about content. The tips Latitude provides on telling stories are the following:</span><br />
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<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><b>1. IMMERSION </b> - Create an immersive experience through content that is delivered in multi-media and that is multi-sensory;<br /><b>2. INTERACTIVITY</b> - Allow the consumer to become a part of it;<br /><b>3. INTEGRATION</b> - Ensure there is coherence across the many touchpoints; and<br /><b>4. IMPACT</b> - Make it lead to action</span></div>
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<i><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">"Again, the difference today for marketers is twofold--storytelling is not an internal exercise alone; rather, it is an exercise that should engage the consumer. Brand stories need to now live day to day with the engagement of consumers to create strong, long-lasting bonds across all touchpoints, from packaging to video to visual and verbal content. Such a requirement transforms how marketers need to think about their role. It becomes less about directing and more about curating a brand and consumer journey."</span></i></blockquote>
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><a href="http://www.fastcompany.com/3002379/brands-2012-year-story-so-whos-telling-it-best?utm_source=twitter&utm_medium=feed&utm_campaign=Feed%3A+fastcompany%2Fheadlines+%28Fast+Company%29" target="_blank">Read Kathy's article </a>and share your thoughts on how you might employ a story to ignite interest in your business, product or service.</span><br />
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Boiler</span><br />
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Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-42743238008088818932012-10-19T09:43:00.000+11:002012-10-31T11:43:15.426+11:00Is your team on your team?<!--[if !mso]>
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<br /><i><span style="font-size: medium;">Well if it isn't </span><span style="font-size: 19px;">you're</span><span style="font-size: medium;"> in big trouble!</span></i></div>
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I
was reading a Zig Ziglar article the other day and this point jumped out at me.
How true I thought. <o:p></o:p></div>
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More
and more we are seeing managers and business owners pulling their hair out,
frustrated at their staff going in different directions and missing their
targets. <o:p></o:p></div>
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Good
business starts on the inside. Your team must believe in you and what you are
trying to achieve. <o:p></o:p></div>
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<i>“The belief in the value of
what you do or sell has to be so strong that everyone who comes in contact with a
customer exudes confidence in the company and the product”.<o:p></o:p></i></div>
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When this is the case everyone is prepared to pitch
in.<o:p></o:p></div>
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If
your team is not on your team – STOP!
Step back and take 5 minutes to reset for yourself the goals for your
business. Detail it out in a One Page Plan: the Now – Where – How.<o:p></o:p></div>
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Share
this with your team and work together to plan the route to get there. Then set
them free on meeting the needs of your customers through your product or
service.<o:p></o:p></div>
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Boiler<span style="font-size: medium;"><o:p></o:p></span></div>
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<!--EndFragment-->Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-64607086347995512012-09-05T10:00:00.000+10:002012-09-05T10:00:03.638+10:00The End of Solution Sales
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<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">I have just been reading an article in the Harvard Business
Review (July-August 2012) and was intrigued with the headline: <b>‘The End of Solution Selling’</b>.</span></div>
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<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">The article announces that “the old playbook no longer
works” and that “star salespeople now seek to upend the customer’s current
approach to doing business”. Bold
statement and interesting observation I thought.</span></div>
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<br /></div>
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<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">For many years we have championed the cause of sales
professionals solving the problems of their customers to win business, and
ensure repeat business - solution selling. </span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">But in recent times it has become apparent that being the
font of all knowledge to our clients and solving all their problems is not
enough. For a start, customers make an approach or enquiry armed with more
knowledge of our product or service than ever before. They have researched and
compared all before walking through our door. </span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">As the article outlines, “customers completed, on average,
nearly 60% of a typical purchasing decision – researching solutions, ranking
options, setting requirements, benchmarking pricing, and so on – before even
having a conversation with a supplier”. With this in mind, the celebrated
”solution sales rep” can be more of an annoyance than an asset!</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">“<b>Insight selling</b>”
is now the mantra of the best salespeople. It is a new strategy that demands a
radically different approach across several areas of the purchasing process.</span></div>
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<br /></div>
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<span style="font-family: DIN-BoldAlternate; font-size: 16.0pt; mso-bidi-font-size: 12.0pt;">Solution Selling<o:p></o:p></span></div>
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<span style="color: #9bbb59; font-family: DIN-BoldAlternate; font-size: 16.0pt; mso-bidi-font-size: 12.0pt;">Insight Selling<o:p></o:p></span></div>
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<span style="color: white; font-family: DIN-Regular;">What
kind of company to target<o:p></o:p></span></div>
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<span style="font-family: DIN-Regular; font-size: 10.0pt; mso-bidi-font-size: 12.0pt;">Organisations that have a clear vision and
established demands<o:p></o:p></span></div>
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<span style="font-family: DIN-Regular; font-size: 10.0pt; mso-bidi-font-size: 12.0pt;">Agile organisations that have emerging demands or
are in a state of flux<o:p></o:p></span></div>
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<span style="color: white; font-family: DIN-Regular;">What
sort of initial information to gather<o:p></o:p></span></div>
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<span style="font-family: DIN-Regular; font-size: 10.0pt; mso-bidi-font-size: 12.0pt;">What need is the customer seeking to address?</span><o:p></o:p></div>
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<span style="font-family: DIN-Regular; font-size: 10.0pt; mso-bidi-font-size: 12.0pt;">What unrecognised need does the customer have?</span><o:p></o:p></div>
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<span style="color: white; font-family: DIN-Regular;">When to
engage<o:p></o:p></span></div>
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<span style="font-family: DIN-Regular; font-size: 10.0pt; mso-bidi-font-size: 12.0pt;">After the customer has identified a problem the
supplier can solve</span><o:p></o:p></div>
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<span style="font-family: DIN-Regular; font-size: 10.0pt; mso-bidi-font-size: 12.0pt;">Before the customer has pinpointed a problem</span><o:p></o:p></div>
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<span style="color: white; font-family: DIN-Regular;">How to
begin the conversation<o:p></o:p></span></div>
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<span style="font-family: DIN-Regular; font-size: 10.0pt; mso-bidi-font-size: 12.0pt;">Ask questions about the customer’s need and look for
a “hook” for your solution </span><o:p></o:p></div>
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<span style="font-family: DIN-Regular; font-size: 10.0pt; mso-bidi-font-size: 12.0pt;">Offer provocative insights about what the customer
should do</span><o:p></o:p></div>
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<span style="color: white; font-family: DIN-Regular;">How to
direct the flow of information<o:p></o:p></span></div>
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<span style="font-family: DIN-Regular; font-size: 10.0pt; mso-bidi-font-size: 12.0pt;">Ask questions so that the customer can steer you
through its purchasing process</span><o:p></o:p></div>
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<span style="font-family: DIN-Regular; font-size: 10.0pt; mso-bidi-font-size: 12.0pt;">Coach the customer about how to buy, and support it
through the process</span><o:p></o:p></div>
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<br />
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<div align="right" class="MsoNormal" style="text-align: right;">
<span style="font-size: 10.0pt; mso-bidi-font-size: 12.0pt;">Source: Harvard Business Review August-July
2012, p63.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Sales professionals need to be adaptive. Solution selling
skills need to be complemented with strategies to challenge, insights to engage
clients and the touch to coach how they should buy. Successful reps “may still
be selling insights. And in this new world, that makes the difference between a
pitch that goes nowhere and one that secures the customer’s business.”</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">The full articles is linked on our website, so take the time
to have a read and see how Insight Selling might better suit the ‘new age’
customer in your market?</span></div>
<div class="MsoNormal">
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Boiler</span></div>
<!--EndFragment--><br />
<!--EndFragment-->Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-90275015415360556482012-08-23T10:21:00.000+10:002012-08-23T10:21:49.139+10:00Give someone a chance<br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="http://2.bp.blogspot.com/-TAkzLHkzaNY/UDR9hgUTyBI/AAAAAAAAADk/gAEyWZnOHD0/s1600/PICT0119.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="150" src="http://2.bp.blogspot.com/-TAkzLHkzaNY/UDR9hgUTyBI/AAAAAAAAADk/gAEyWZnOHD0/s200/PICT0119.JPG" width="200" /></a></div>
<blockquote>
<span style="font-family: Calibri, Verdana, Helvetica, Arial;">I was reminded this week of a program I ran in Ballarat several years ago. With a Mindshop colleague we ran a Mindshop Excellence program with a group of senior high school students. </span> </blockquote>
<blockquote>
<span style="font-family: Calibri, Verdana, Helvetica, Arial;">What we experienced was nothing short of amazing and a reminder that anything is possible if you give someone a chance. Here are my colleagues recollections....</span></blockquote>
<blockquote>
<span style="font-family: Calibri, Verdana, Helvetica, Arial;">"…. I witnessed the most amazing person at our last program in Ballarat. Mike Boyle and I arrived on Monday to tackle 4 groups in the one training session. Nothing special here except one of the students was a 15 year old girl. She was profoundly deaf and unable to communicate verbally. I was terrified – how can you possibly train someone with this challenge in just a few hours, in a boisterous group, without setting her up to fail. I wanted to go home but being afraid of the Boiler did not. Well picture the scene. Here we are promising these kids that they have the talent to do anything, given the chance, and all they need is belief in themselves and a few tools. The student had a signing translator who tried hard to keep up with the Boiler and me, always a challenge as we had a room full of evolving young adults. </span> </blockquote>
<blockquote>
<span style="font-family: Calibri, Verdana, Helvetica, Arial;">
Mike and I watched this girl participate in the group dynamics and we both came to the same conclusion. She was a born leader. She just could not hear or speak. This student neither needed, wanted nor would accept any special treatment. So with my usual stern face I announced to the group that everyone would be presenting on Friday, no notes, the usual drill. This always gets their attention. That was it for me. I made a quick visit on Tuesday morning and then did not see the group again until Friday morning for presentation practice. An added challenge was that the group had been told by a much nicer person than me, that they could present with notes. I said no way to this and told them to get up and practice. I was really worried about how to include her – their problem of course, not mine. But what would I do if they had not included her? I was hoping that she would be changing slides, holding up a chart, pointing to something. Well they lined up and began. Looked good as each got up to present. Then she stood up and presented. Sign language in front of PowerPoint slides. I have never seen such passion, excitement and enthusiasm in a presentation. She got her message across better than any of the speaking speakers. She knew the tools, presented insightful comments and passionately made forceful points, all with her hands and body language.</span> </blockquote>
<blockquote>
<span style="font-family: Calibri, Verdana, Helvetica, Arial;">
She was the best presenter of the group. Mindshop Excellence had given this girl the chance to show the world, in this case a room full of senior executives, what she could do given a chance. There was only one problem. Her signing translator was repeating what she was signing “saying” in a monotone. The practice round was stopped and the translator charged with expressing the passion and the excitement, not just the words. I found coaching the translator was a lot more difficult than the young presenters. Signers “don’t do the passion”. However after a little persuasion she came good and at the final presentation I was not the only person who had a tear in their eye. The student was magnificent. Her mother came to me crying and begged me to thank Mindshop for giving her daughter the chance to be what she can be.</span> </blockquote>
<blockquote>
<span style="font-family: Calibri, Verdana, Helvetica, Arial;">
I wonder how many other 'overlooked stars' there are in your part of the world, young adults full of talent that may never be realised unless someone gives them a chance. Life is short. There really is more to life than the next dollar. Your VTO could change someone’s life forever. Maybe even yours."</span></blockquote>
<br />
http://www.mindshopexcellence.com/<br />
<br />
<br />Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-77901933620668115262012-07-18T09:00:00.000+10:002012-07-18T09:00:03.373+10:00Stop talking<br />
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<span style="background-color: white; background-position: initial initial; background-repeat: initial initial; font-size: 13.5pt;">Hope all is well in your sales land.
Are you becoming a sales cat yet?</span><span style="font-size: 13.5pt;"><o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal">
<span style="font-size: 13.5pt;">Why do we often talk more than we should? When other
people talk too much, we notice immediately. When we talk too much, everyone
else notices—except us. <o:p></o:p></span></div>
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<br /></div>
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<span style="font-size: 13.5pt;">Here are a few possible explanations why it
happens: <o:p></o:p></span></div>
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<br /></div>
<div class="MsoListParagraph" style="margin-left: 1.0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -21.25pt;">
<!--[if !supportLists]--><b><span style="font-size: 13.5pt;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;"> </span></span></b><!--[endif]--><b><span style="font-size: 13.5pt;">Anxiety.</span></b><span style="font-size: 13.5pt;"> People
who are anxious use an avalanche of words to avoid dealing with potential
conflict (like a prospect saying "no"). Instead of balancing talking
with listening, they believe that their wall of words will protect them from
what they imagine as a threat. They often refuse to give up control of the
conversation by adding a trail of words that echo the ones that they've
expressed previously. <o:p></o:p></span></div>
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<br /></div>
<div class="MsoListParagraph" style="margin-left: 1.0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -21.25pt;">
<!--[if !supportLists]--><b><span style="font-size: 13.5pt;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;"> </span></span></b><!--[endif]--><b><span style="font-size: 13.5pt;">Lack
of preparation.</span></b><span style="font-size: 13.5pt;"> The less clear we are on any given
subject, the more words it will take us to talk about it. Here is an
eye-opening exercise. Ask a salesperson to make a presentation about your
company as if you were a new prospect. Time the presentation. Next, ask the
salesperson to write a brief, but concise description of your product or
service in 180 words. Now, read the copy at normal speed. How much time did it
take? About one minute. It should not take more time to engage a prospect.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoListParagraph" style="margin-left: 1.0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -21.25pt;">
<!--[if !supportLists]--><b><span style="font-size: 13.5pt;">3.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;"> </span></span></b><!--[endif]--><b><span style="font-size: 13.5pt;">Stress.</span></b><span style="font-size: 13.5pt;"> When
we are tired we tend to ramble and our ability to concentrate begins to
decrease. Our brain responds to mental fatigue by producing more words and less
meaning. The cure: Get enough sleep, eat healthy and exercise regularly.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoListParagraph" style="margin-left: 1.0cm; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -21.25pt;">
<!--[if !supportLists]--><b><span style="font-size: 13.5pt;">4.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;"> </span></span></b><!--[endif]--><b><span style="font-size: 13.5pt;">Lack
of a roadmap</span></b><b><span style="font-size: 13.5pt;">.</span></b><span style="font-size: 13.5pt;">
Do you know where your conversation will lead before you start talking? If not,
write down the answers to three questions: What is my call objective? What
information do I need to get? What information do I plan to give? Stay on
track, stay on message and don’t skip vital steps.<o:p></o:p></span></div>
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<!--[if !supportLists]--><b><span style="font-size: 13.5pt;">5.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;"> </span></span></b><!--[endif]--><b><span style="font-size: 13.5pt;">Lack
of a time budget.</span></b><span style="font-size: 13.5pt;"> Decide to invest a specific amount
of time for each call and stick to it. If you are a manager and you want to
save time, conduct your meetings standing up. This forces people to be brief
and to the point. If you meet with longwinded people, ask the moment they get
on your nerves: "We have another five minutes, what else do we need to cover?<o:p></o:p></span></div>
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<!--[if !supportLists]--><b><span style="font-size: 13.5pt;">6.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;"> </span></span></b><!--[endif]--><b><span style="font-size: 13.5pt;">Lack
of humility.</span></b><span style="font-size: 13.5pt;"> Some people think that everything
they say is profound and important. When they talk, they experience a rush of
good feelings and they often fall in love with their own words. They may use
catch phrases and complex language to impress their customers. Being expressive
is nice, however good relationships require us to be receptive to others.<o:p></o:p></span></div>
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<!--[if !supportLists]--><b><span style="font-size: 13.5pt;">7.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;"> </span></span></b><!--[endif]--><b><span style="font-size: 13.5pt;">Ineffective
thinking.</span></b><span style="font-size: 13.5pt;"> While some salespeople continue to hopscotch
from problem to problem, others quickly get to the core of a customer's problem,
solve it and close the sale. Decide which thinking style would be most helpful
to achieve your objective: convergent thinking or divergent thinking?
Convergent thinking leads to a focal point in the middle of a circle, divergent
thinking radiates - like the sun - away from the centre in every direction.
Divergent thinking opens people's minds; it leads to new ideas, thoughts and
possibilities. As a result, the conversation goes on and on. Convergent
thinking leads to conclusions, and concrete results, like a closed sale.<o:p></o:p></span></div>
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<span style="font-size: 13.5pt;">Boiler<o:p></o:p></span></div>
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<!--EndFragment--><br />Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-25537985487073716782012-07-11T07:00:00.000+10:002012-07-11T07:00:03.124+10:00How to Learn to Love Your Mistakes<br />
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<span style="background-color: white;">I am blogging this article in its entirety as I could not possibly write this better than Bernard. This message is so important in today’s selling environment. Enjoy.</span></div>
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<b>How to Learn to Love Your Mistakes</b></div>
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By H. Bernard Wechsler December 23 2010</div>
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Why do executives suffer emotionally when the world discovers they are not perfect and make mistakes? Making mistakes, errors or failing makes them feel stupid,<span style="background-color: white;">embarrassed and worse – incompetent.</span></div>
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These emotions lead to chronic stress, a weak immune system and even heart attacks. The negative feelings about making future mistakes make them gun-shy <span style="background-color: white;">about decision-making, that leads to the Unemployment line. </span></div>
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Stop</div>
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Mistakes force our brain to concentrate on discovering solutions. Mistakes and learning are like ham-and-eggs. Mistakes, errors and failure force us to focus <span style="background-color: white;">on new learning. Mistakes linger in long-term memory because they excite the fear </span><span style="background-color: white;">of failure.</span></div>
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Get this: real learning does not come from reading, listening to lectures, watching educational videos or demonstrations. Learning new ideas or skills comes from doing, making mistakes, and remembering both our errors and our solutions.</div>
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The Most Important Knowledge for 2011</div>
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If you remember only 5-10% of something you finished learning – is that the same as never learning it in the first place? Retention of what we learn is everything, right? </div>
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If you read an article for information and retain 5 or 10% or even 20 or 30% - did you really get it? Comprehension in school is at least 65%, right?</div>
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The Learning Pyramid: Adapted from National Training Laboratories, Bethel, Maine</div>
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The following is as real as a heart attack, so remember it.</div>
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Average Retention Rates</div>
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<b style="background-color: white;"><br /></b></div>
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<b style="background-color: white;">1. Listening to a lecture by a teacher, specialist or professor:</b><span style="background-color: white;"> after 8-hours we </span><span style="background-color: white;">retain just FIVE-PERCENT of it. After 24-hours - we remember just One-Percent of her brilliant research. No good.</span></div>
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<b style="background-color: white;">2. Reading a textbook for knowledge and motivated by future testing:</b><span style="background-color: white;"> we retain </span><span style="background-color: white;">just Ten-Percent of the key points after 8-hours. After 24-hours - we keep only Five-Percent of it. Reading alone does not cut it, right?</span></div>
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<b style="background-color: white;">3. Watching and listening to an Audio-Visual presentation:</b><span style="background-color: white;"> after 8-hours, all we </span><span style="background-color: white;">retain of the material is Twenty-Percent. After 24-hours - it drops to Ten-Percent.</span></div>
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<b style="background-color: white;">4. Seeing a Demonstration of an idea or new skill:</b><span style="background-color: white;"> after 8-hours, we retain </span><span style="background-color: white;">Thirty-Percent of what we saw. After 24-hours – we get to keep Fifteen-Percent of it. </span></div>
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<b style="background-color: white;">5. Participating in a Group-Discussion to learn new ideas or skills:</b><span style="background-color: white;"> retention is </span><span style="background-color: white;">Fifty-Percent - after 8-hours. After 24-hours, we get to keep up to Forty-Percent in long-term memory.</span></div>
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<b style="background-color: white;">6. If you become involved in PRACTICING what you are learning (ideas or </b><b style="background-color: white;">skills):</b><span style="background-color: white;"> after 8-hours - we retain Seventy-Five Percent of the new knowledge. After 24-hours, we still own up to Seventy-Five Percent of the information.</span></div>
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<b style="background-color: white;">7. If you take the new knowledge and TEACH it to others:</b><span style="background-color: white;"> after 8-hours, you </span><span style="background-color: white;">retain 90% of the information. After 24-hours you still retain up to Ninety-Percent </span><span style="background-color: white;">of the knowledge. Wait – after one-month – you still retain up to Ninety-Percent of </span><span style="background-color: white;">this learned knowledge.</span></div>
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<b>Conclusion:</b> Participating Teaching Methods like group-discussions, practice and <span style="background-color: white;">teaching others - is way superior to Passive teaching methods like Lectures, </span><span style="background-color: white;">Reading, Audio-Visual, and Demonstrations.</span></div>
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Emotions of Mistakes</div>
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To destroy the power of mistakes over your mood, mindset and self-confidence, do this: </div>
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a) identify the emotion you are feeling – embarrassment – frustration – <span style="background-color: white;">shame – (not being perfect, and feeling incompetent).</span></div>
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b) say it out loud, it gives you control over your negative feelings.</div>
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c) affirmation: repeat three-times. “I release my negative emotions <span style="background-color: white;">about how other people see me. I learn from my mistakes and get better </span><span style="background-color: white;">and better.”</span></div>
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d) Add emotion to this affirmation: raise your arms vertically like a <span style="background-color: white;">Touch-Down in Football and give yourself a cheer. </span></div>
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e) Type this affirmation on a card or sheet of paper and tape it to your <span style="background-color: white;">computer. </span></div>
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Trial-And-Error</div>
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Real learning comes from analyzing our mistakes (choices) – errors and failures. <span style="background-color: white;">Why? It triggers our emotions, which activates our long-term memory for the correct answers. Trial-And-Error is a powerful tool.</span></div>
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The Secret is Implementing </div>
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Listening, reading and watching a demo are not real learning. When we implement what we learned in the real world, it gets sticky and useful. <span style="background-color: white;">Mistakes come from implementing new knowledge or skills. Define: implement. </span><span style="background-color: white;">It is to start, put into action, and to use it. Synonyms are execute and perform. </span></div>
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Antonyms are to cancel and stop. Implement means to follow-through, apply and <span style="background-color: white;">enforce. </span></div>
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When you implement the new ideas or skills – mistakes are natural. Now you have <span style="background-color: white;">choices to make, and that is when learning occurs. Implement is from Latin, meaning to fill-up. </span></div>
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Making mistakes is never negative because it is necessary for real learning. In physics, power flows from Negative to Positive. All you require is to extend your <span style="background-color: white;">Comfort-Zone and learn from your mistakes.</span></div>
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Afterwords</div>
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Choose to remember that listening – reading – an audio-visual - and seeing a demonstration – do not cut it as learning. You need to get your hands dirty <span style="background-color: white;">with implementing the new knowledge or skills. Got it? I knew you would.</span></div>
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copyright © 2010 H. Bernard Wechsler <span class="s1"><a href="http://www.speedlearning.org/">www.speedlearning.org</a></span></div>
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<br /></div>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-28611132819722452032012-06-07T09:00:00.000+10:002012-06-07T09:00:00.357+10:00Sack fast and hire slow!<br />
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An Ogilvy and Mather study of over 1,000 sales people has discovered that 87% of sales come from less than 23% of sales people.</div>
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What this means is that in many sales teams, most reps are less than effective. It is a small few, the sales cats, that are producing the bulk of the <a href="http://boilersbestbits.blogspot.com.au/2012/05/sales-shift-stop-patter.html" target="_blank">results</a>.</div>
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So what should you do? </div>
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Check! Check the results from your pipelines. Check your sales data. Work out who is getting the sales. These are the sales cats who build value based on relationships. The ones who bring good margins, strong revenue and don't rely on discounting behaviours. Asses and identify your stars, your mid-stars, the under performers and the slackers.</div>
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Sack the slackers fast. Tough but fair. They will thank you one day as it opens the opportunity for them to find the one thing that they can get passionate about and do well.</div>
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Re check the under performers and test them well. Challenge them to perform or leave.</div>
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Coach the mid-stars and inspire them to realize their full sales potential. Train them well and coach them on good sales behaviors.</div>
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Really coach your stars. Being stars does not mean they should be left alone. We often leave them alone because they are better at sales than the coach or sales manager. It may be time to get a better coach or learn better coaching skills. Your stars will continue to deliver great results.</div>
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When there are gaps to fill in your sales team, hire slow! Hire firstly for sales behaviors, then fit, and finally product knowledge. Hire great attitude because it's impossible to train. Hire based on the role models you already have – your stars.</div>
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Remember sack fast and hire slow.</div>
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Boiler</div>
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<br /></div>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com3tag:blogger.com,1999:blog-7542308671262492337.post-81139046433927115212012-05-30T07:00:00.000+10:002012-05-30T07:00:05.837+10:00Sales Shift - Stop the PatterSales is shifting again. We have moved on from the <i>order taker</i> – the GFC fixed that. The GFC gobbled up natural demand and forced the real sales people to thrive; and thrive they have. The <i>order taker</i> sales person is finished.<br />
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Sales people who have survived the <i>order taker</i> cull have decided to <i>tell</i> faster. These people don't get the rules of the sales cat. They figure the more they know and the faster they can <i>tell</i> people about it the more sales they will make. Right? Wrong.</div>
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This behaviour of course allows the cream to rise to the top. Enter the <i>transformers</i>.</div>
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These are the sales people that live in the third circle of selling. </div>
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The first circle is all about product knowledge, throwing it at the marketplace and hoping for sales.</div>
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The second circle sees the sales person pitch the product at the customer, adding some value and describing how it may help them.</div>
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The third circle is where the knowledge of the customers environment, combined with the problem the product solves for the customer, integrates a mature approach to business dynamics.</div>
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<i>Transformers</i> get how their 'stuff' solves business problems.</div>
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<i>Transformers</i> can link product, problems and solutions very well.</div>
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<i>Transformers</i> are masters at getting customers to see the value.</div>
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<i>Transformers</i> sell outcomes not more 'stuff!'</div>
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<i>Transformers</i> deliver 87% of sales results.</div>
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In this new world of selling it will be the <i>transformers</i> who thrive. Do you have one? Do you know who the others are and what they are costing your business?</div>
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<i>Transformers</i> – the sales cat of today.</div>
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Boiler</div>
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<br /></div>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-76563381697756662622012-05-23T07:00:00.000+10:002012-05-23T09:56:16.345+10:00When is it TIME to innovate?<br />
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I've just returned from the Albury BMI week where I ran a workshop on Innovation.</div>
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On the morning of the workshop, I drove down Dean Street and noticed the town clock, in the iconic building on the corner of Kiewa Street, was stuck on 3pm. You know a regional centre has stopped thinking about its future when the clock has stopped and the battery not changed! </div>
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I challenged my group on this point and an innovative concept.</div>
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With a population of around 60,000 there is a massive opportunity to build something better when it comes to retail and the regional experience.</div>
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I boldly suggested that they put a roof over Albury and rebrand it 'Albury One dot com.' There were looks of dismay. Their brains were thinking one way, and mine, another.</div>
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Not corrugated iron roofing I suggested, which was the conclusion they all clearly jumped to. A brand, a destination, an experience, a performance I explained. </div>
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See, I believe their shopping precinct has lost it's mojo. It has turned into rows of shops with stuff on shelves with nice flower pots and speed humps as the attraction.</div>
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Shopping should be a performance, an experience of the senses. It should be like poisonous gas! It should make you clammy, cry, laugh, sweat, run, stop and drop. Albury needs to rethink it's retail purpose. </div>
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Create an environment like Disneyland where everything they do in the magic kingdom is a performance. As 'Albury One dot com' the hundreds of retailers in Albury/Wodonga could leverage their marketing spend, logistics expense, website presence, training and supply chain. They could align themselves into categories like a Chadstone or Highpoint West shopping centre. Once that was done they could then entertain attracting customers to the value, not just the product. They need to develop innovative ways to attract people to experience their shops again. Create clever events, entertain, engage customers and bring back the pizazz so sorely missed in retail today.</div>
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Think about it. Why do you really go to a restaurant? For the food? Be honest, you go for the experience. To catch up with friends, to laugh, to share and to engage the senses. Food is a given. The problem is most owners of restaurants charge for food only which demonstrates they think they are in the food business when they really should be in the entertainment business. There is no competitive advantage in selling just stuff.</div>
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It's time to change the clock Albury.</div>
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Boiler</div>
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<br /></div>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com1tag:blogger.com,1999:blog-7542308671262492337.post-60822485160747841412012-05-16T07:00:00.000+10:002012-05-16T07:00:00.375+10:00Business People Who SellThere is a common myth in sales circles that sales people are born not trained. Of course this is nonsense. Send me the details of any midwife that recognised an up and coming sales person like Zig Zigler at birth!<br /><br />The facts are that selling and the science of selling, like any science, is a learnt skill. The basic foundations of this learning are effective communication, planning, goal orientation and problem solving. These elements combined form the foundations of what we call "Sales Swagger” or the “Sales Essence” of an individual.<br /><br />For many years now I have said consultants are in a privileged position when it comes to selling. They generally have a fantastic ability to solve problems. They have become good listeners by being forced to understand their clients issues in order to offer solutions. They also, if involved in accounting and professional services, come from a ‘trusted’ position via existing relationships and the perception of accounting in the wider community.<br /><br />So what is the issue with selling if all these factors are stacked in your favour?<br /><br />Why is it so hard to become “A Business Person who Sells” when the customers prime driver is to go forward, achieve their goals, be successful and achieve growth and profit?<br /><br />Through observations, training and my own business experience, here are the top key blockages:<br /><ul>
<li>Confidence in your own selling ability </li>
<li>Inadequate time allocated to proper sales cycles, from start to finish </li>
<li>A poorly thought out (SCA) or Unique Selling Proposition (USP) </li>
<li>Lack of sales process or model to find suspects, convert to prospects and then convert to customers </li>
<li>Fear </li>
</ul>
<br />Fear is not even worth talking about. I have never seen a salesperson shot by a customer! The worst thing that can happen is the customer says “No”! If you have a robust pipeline this will never be a problem.<br /><br />Selling is not something you can do once a month at the Club Golf Tournament. You need to allocate time to the process of selling. Time for pipeline development, relationship building, sales calls and follow up conversions. Everyone in your organization need to be involved in the process of customer development — not just the ‘rainmakers’.<br /><br />You need to be able to anchor your sales process with a point of difference to make sure your USP is in fact unique. Understand your SCA. Build a sales process and then consistently use it leaving nothing out. Don’t skip steps.<br /><br />Lastly, begin to build goals, targets and milestones. Set yourself a meeting target, proposals out for consideration target, conversion goal and win/loss ratio.<br /><br />Lets be clear. Customers want future goals and success. They are not interested in your products and services, sorry to burst the bubble. I challenge you to ring 20 customers now and ask if you can come over and show them product X, Y and Z. I bet none take you up on your offer. Instead ask them if you can meet to discuss their top 5 blockages to success you can help them fix, and you may even find they offer to pay for coffee!<br /><br />Here is a model or approach you may have heard of. Sit down with a customer and ask them “Where are you now?” (Listen) Then ask them, “What are your top 5 issues for the next 3 months? You know, the burning ones.” (Listen) Then ask them “Where do you want to be in 12 months time?” (Listen) Then with them, discuss and agree on actions and strategies to get them there. Abracadabra! Looks like a plan!<br /><br />If you want to be “A Business Person who Sells”, become a person that helps everyone you meet grow in some way. As these people slowly make sense of the value they are getting from the relationship chances are you will become very popular, very successful and well paid.<br /><br />Boiler<div>
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<br /></div>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-10440995598797595492012-05-09T07:00:00.000+10:002012-05-09T07:00:03.959+10:00Recognition and Reward for your Sales Team<br />
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<span class="Apple-style-span" style="font-size: 12px;">There is a great array of commission and incentive packages to boost sales team performance but choosing the right one for your business is not always easy. Ideally it should fairly compensate and adequately motivate the team members while supporting and advancing your company's vision and goals.</span></div>
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<b>Ground Rules</b></div>
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There are some specific ground rules that span all industries and can help provide a framework to develop your package. The most important rules include:</div>
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<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Start with the outcomes</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Prioritize behaviours</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Keep incentives flexible so that they can evolve along with your company's goals</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Make it easy for everyone to understand</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Benchmark your competition to stay competitive</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 20.0px 0.0px;">Review regularly for relevance</li>
</ul>
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<b>Start with Results</b></div>
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It is fundamentally important to determine what results you want to encourage and design your plan from there.</div>
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The sales teams goals should reflect the company's larger goals. Consider including the corporate goals in your sales agreement to promote a unity of purpose. For additional clarity, you may want to include work objectives, even if they are not tied to commissions.</div>
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<b>Some Carrots are Larger than Others</b></div>
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Every incentive in a commission plan is a carrot, but some carrots can be larger than others depending on the behavior they reward. Prioritize the behaviors you want from your sales force. You then can set up a system of rewards that encourages top-priority behavior, as well as motivates salespeople for situations that are clearly distinguishable.</div>
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For example, you may want to commission third-party products at a different rate. You also might consider commissioning services differently than products.</div>
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You can implement an accelerator plan, which provides flexibility in the commission percentage earned and paid. In this case salespeople are paid at a lower rate until they meet their target.</div>
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After that, they are compensated at a more accelerated rate for every dollar they generate in excess of the target.</div>
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<b>Keep It Simple</b></div>
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A commission plan needs to be easy for your sales team to understand. Not only do sales people need to see clearly what is motivating them, but you don't want to spend your time haggling over commission payments.</div>
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Clearly identify how commissions are earned and keep the calculation formulas straightforward.</div>
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You can check your plan's simplicity by creating a few sales scenarios and asking the sales team to derive the compensation. If the plan is easily understood, everyone should come up with the same numbers. If different figures are calculated, consider reworking the plan.</div>
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<b>Know Your Competition</b></div>
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If you want to retain a top-level sales force, your plan needs to be competitive. Gather intelligence on how your competitors compensate their sales professionals. You can figure out what commission levels are reasonable and competitive for your industry or profession through an Internet search at a source such as <a href="http://www.salary.com/"><span style="color: #1f5494;">www.salary.com</span></a>.</div>
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Human resource specialists can often help you locate surveys with compensation information; or sales professionals always know what their industry pays and can share documentation. You also can tap in to your industry's professional association or ask your peers how they structure their commission contracts.</div>
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<b>Commission Structures</b></div>
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At the core of any incentive plan is determining what role commissions play in the overall sales compensation package. Four of the most common commission structures are:</div>
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<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Commission only;</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Commission plus salary;</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Commission plus bonus; or</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 20.0px 0.0px;">Commission plus salary, plus bonus.</li>
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Although industry standards carry significant weight when creating a commission structure, ultimately your budget and priorities will determine how you pay sales professionals.</div>
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Again, when you hire sales professionals, they should immediately understand their earnings potential. For example, if you are paying commission only, you can specify that the commission will be X percent of the net sale, less any discounts. Or, you can define a base salary along with a target commission amount--the amount the salesperson would earn at 100 percent of quota. You might pay 50 percent base and 50 percent commission, or 80 percent salary and 20 percent commission.</div>
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If you pay bonuses, you'll need to determine not only the percentage, but if they are based on company-wide goals, individual goals or both.</div>
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<b>Different Pay for Different People?</b></div>
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If multiple salespeople do the same job, their commission compensation should be equal. On the other hand, if job responsibilities really are different, these expectations should be spelled out and compensated for appropriately.</div>
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You might want to reward salespeople through higher base salaries for length of service, experience or stellar performance. Most importantly, be clear with your sales staff and apply any differences consistently.</div>
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<b>First-time vs. Recurring Sales</b></div>
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You will need to address what commission is applicable to first-time sales as opposed to sales to repeat customers. By establishing higher commission percentages for new accounts, you encourage your sales team to bring in new customers.</div>
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But, you don't want to discourage sales to existing customers, as this is a strong sign of customer satisfaction with the product. It may be better to pay equally, but to award a bonus to each salesperson who brings in X new customers in a given period.</div>
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<b>Timing of Commission Payment</b></div>
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Your plan will need to specify when commissions are earned. Some options include payment at the time of invoicing or product shipment, when the customer payment is received or a combination thereof.</div>
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Paying full commission when a sale is invoiced or when a product ships has the inherent risk of paying out the salesperson on what may be a slow or nonpaying customer. To alleviate this risk, some companies pay commissions only after customer payment is received.</div>
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<b>Conditions-based Payment </b></div>
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Another strategy is to pay 50 percent of the commission at the time of invoicing as long as certain conditions are met, with the remainder payable at cash collection.</div>
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You can put in the plan that anything uncollected for more than X-number of days past due will be removed from commissions, motivating salespeople to assist with collection follow up.</div>
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The "certain conditions" part of the commission agreement are for behaviors you want to encourage. For example, you might specify 50 percent commission payment for sales containing net 30-day payment terms. For sales with net 45-day terms, commission might be paid only when the cash comes in.</div>
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Another condition might be pricing in accordance with the internal discount guidelines. If salespeople get any additional discount approved beyond the guidelines, then you pay a proportionately penalized commission percentage, or pay only when the cash is received, or both.</div>
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<br /></div>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-4702470053718377142012-04-26T07:00:00.000+10:002012-04-26T07:00:02.348+10:00A University Degree for Sales Managers?<br />
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<span class="Apple-style-span" style="font-family: Helvetica; font-size: 13px;">I often ask of the
sales managers I meet what 'Sales Management course' they completed at
university.</span></div>
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<span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;">The answer is always
"What?" or "Ummmmmmmm, the boss taught me. He was a gun!"<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;">It's a loaded question
of course, and a little bit mischievous I admit, however it raises a great
point or two.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;"><b>Sales Orientation</b><o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;">So many sales managers
progress from high performing sales into sales management which in many cases,
produce poor results. It's not because they are inept, the orientation is all
wrong. You have to be independent and focused to be in sales, just ask a sales
man!<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;">In sales management you
have to be 'them and us' focused. It's no longer about you but about the
collaborative result, the team effectiveness and your ability to coach.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;"><b>The Foundations of Sales Leadership</b><o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;">In the absence of a
proper science the sales scientists at Banjar have agreed on 7 core principles
sales managers must get right!</span></div>
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<ul>
<li><span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;"><i>Recruiting</i></span><span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;"> – Recruit the right
attitudes, behaviors and then skills for selling</span></li>
<li><span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;"><i>Sales
strategy</i></span><span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;"> – Build a simple sales strategy</span></li>
<li><span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;"><i>Coaching
and mentoring</i></span><span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;"> – Be prepared to jump in the car monthly to coach</span></li>
<li><span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;"><i>Strategic
direction</i></span><span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;"> – Continuously develop the sales direction in front of the team</span></li>
<li><span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;"><i>Negotiation</i></span><span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;"> – Negotiate with the
team to make sure they get it</span></li>
<li><span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;"><i>Managing</i></span><span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;"> – Manage the teams
effectiveness, reports and performance</span></li>
<li><span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;"><i>Leadership</i></span><span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;"> – Your role as a sales
manager does not automatically make you a leader, it simply makes you the boss.
Leadership differs in that it's not about bossing people around it's behaving
in a way that makes sales people follow you no matter what.</span></li>
</ul>
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<span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;">We'd love to know if you are practicing some, many or none of these principles and what success or downfalls you've encountered. Which ones work the best to bring about change and which are the hardest to manage?<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: Helvetica; font-size: 10pt;">Boiler<o:p></o:p></span></div>
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<br /></div>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-82683316540935950982012-04-18T07:00:00.000+10:002012-04-18T07:00:06.501+10:00Customer Service Online<br />
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There has been plenty of talk recently, and in some cases tears, about online business taking custom away from the retail store. But here's something to consider. How long will the party last if these online retailers fail to deliver on customer service?</div>
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If like many, you are an online purchaser, chances are the customer service experience has been either poor or non existent. There are notable exceptions, but they are rare.</div>
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The big danger nowadays is that the ticked off shopper can instantaneously tell hundreds, sometimes thousands, of their online friends an inflamed account of their experience, worsened by the fact that it is near impossible to have it disappear.</div>
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The flip side is to make the customer experience exceptional. It's the simple things that make a difference so start there. Here are some suggestions.</div>
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Address concerns and complaints with personal phone calls and people who can speak firsthand about orders. Don't put people on hold 'forever', it's incredibly annoying. And don't transfer them around departments, get them to the right person sooner. Keep customers up-to-date with their orders and address them by name with all correspondence. Make sure your contact details are current, easily located, and that there are people on the other end who are available to help.</div>
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Good customer service does not need to cost the earth but it can pay you back ten fold in more ways than one.</div>
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Boiler</div>
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<br /></div>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-10895248659234914222012-04-11T07:00:00.000+10:002012-04-11T07:00:00.133+10:0012 Days and Still Smiling!<span class="Apple-style-span" style="font-family: Helvetica; font-size: 12px;">A few weeks ago in WA, I ventured into the heart of Northbridge to find somewhere to eat. Lots of options but not much that raised my interest until I stumbled on <i>Aisuru Sushi.</i></span><br />
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With it's bright new interior and clearly definable prescence on the corner of James Street, I sensed something special and I was not disappointed.</div>
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As I opened the door, staff members looked and smiled at me, the customer entering their domain. "Welcome," the chef smiled from behind the counter. </div>
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I sat down and was immediately greeted by a cheerful waitress who said "Thank you for joining us and welcome to Aisuru." She explained the menu and left me to read on. As I sat I was also welcomed by a clean-cut almost lawyer-like young man who clearly had some involvement in the restaurant.</div>
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I choose my meal and had it reviewed on a iPad right in front of me, pictures and all!</div>
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After one of the best Japanese meals I have ever had, I got up to pay. At the cash register of this beautiful establishment I was once again greeted by my professional host.</div>
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"How was your meal?" he asked. "Exceptional," I said. It was here the real story unfolded.</div>
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Ken Wong, the son of a Hong Kong restaurant family is a trained and qualified lawyer and up until 12 months ago was practicing in Perth. He decided one day to leave his life as a lawyer behind, and peruse his passion and heritage for fine dining. His first restaurant had been open only 12 days and I have no doubt it will be a roaring success.</div>
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After a great chat I thanked all the staff who wished me all the best and a big please come back smile.</div>
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What we can learn from Ken's journey so far?</div>
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What ever you're doing now, if you are not a 100% passionate and committed to it get out and find the passion. The most successful people in the world have one common thread, unwavering passion for what they do.</div>
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Smiles work! Get your people happy, engaging and smiling. Hire smile attitudes not sad ones.</div>
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Despite all the wonderful fit out, the incredible food and the position, it will be the attitude of Ken and his staff over time that will mean long term success and awards.</div>
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Well done Ken you are a sales cat and a star!</div>
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<br /></div>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-80218528382565944902012-04-04T07:00:00.000+10:002012-04-04T07:00:00.811+10:00Customer service excellence, a muffin and a sticky note works!<br />
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In early March I travelled around Australia delivering the 'AVBA On The Move seminar series—Selling Is Not A Dirty Word' program.</div>
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Throughout the journey I made some interesting observations.</div>
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While in Northbridge, Western Australia, I stayed in a hotel which demonstrated how easily you can go from Hero to Zero in customer service.</div>
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Upon checkout, and after settling my account, I was informed there was a bar charge for three local beers that night. $27 – I was shocked! Not because of the price, I could buy a slab of imported beer for the same amount, or because of the sign at reception advertising 'Take a 6-Pack to Your Room for $20.' No, I was unimpressed at the sour face and angry defense at my query on the price. I reluctantly paid and told them they should remove the confusing advertising sign.</div>
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Raving Fan scale down to minus 2 on this hotel.</div>
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Composing myself we began the seminar at the same hotel. During the morning break I collected myself a cup of tea and a muffin which, unfortunately, I had not had time to touch.</div>
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As we broke for lunch the staff began refreshing the room. I commented to one as he took the muffin away that I am sorry I did not get to eat it as the session had been so busy. He asked me "Can I get you a fresh one?" "No, no," I said "It's OK."</div>
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Upon returning from lunch, there on my table was a cling wrapped muffin and a sticky note which read "Enjoy" and a smily face. Ahhhh... my faith in exceptional customer service in Australia was reignited.</div>
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Raving Fan scale now a high 8.</div>
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Was that simple act in the induction manual? No. Was that random act of kindness discussed in the staff meeting? No.</div>
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It was a choice of attitude in a human being to do better and go beyond text book process and basic service.</div>
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No matter what you build, how well you paint it, how far you promote it, your strategic advantage will always come down to how well your people smile, engage, go over and beyond on the little things that matter, like a muffin and a sticky note.</div>
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Well done Andrew at All Seasons Northbridge.</div>
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<br /></div>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-21323923079354281072012-03-28T07:00:00.000+11:002012-03-28T07:00:00.460+11:00A Simple Tip on How to Increase Sales<br />
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Sales Managers have a tough job. Grow sales by improving sales effectiveness of the sales team – the sales behaviors.</div>
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They must keep all those they report to happy, as well as coach the team, drive tactical and strategic sales, motivate, smack and hug. If we compare it to a set of golf clubs, a sales manager must use nearly all his leadership clubs daily! Some days a driver, and other days a six iron with a soft hands chip and run. They need to be flexible, multiple club players to win at sales management golf.</div>
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Amongst all the busyness there is one activity which must be completed weekly. Building sales behaviors in your sales team is key to high performing sales. </div>
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How do you change sales behaviours?</div>
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Once you have identified the <a href="http://www.surveymonkey.com/s.aspx?sm=5bsNy4C1P51FC_2b4qlJH_2baA_3d_3d">key sales competencies needed in the role of sales</a>, audit your team against them. The simplest method is to use a scale from 1-10. Score them from a sales manager's point of view and also allow them self assess. Come together monthly and compare results. Focus on the weaker competencies and develop coaching around the main 4–5 behaviors that require change. Coach over the following 30 days to increase the effectiveness of those behaviors.</div>
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Let's say, for example, the competency is 'good planning.' If a member of your sales team is unorganized, a little overwhelmed and/or complaining of time management issues then coach the behaviors of goal setting, priority management and one page planning over the next 30 days. Over time the results will reflect with better sales.</div>
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Armed with a set of 4–5 sales behaviors to coach every month, ad-hoc support will become a thing of the past and a disciplined approach to increase great sales behaviors in your team will result.</div>
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This is how great sales managers coach their team to become sales champions.</div>
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<br /></div>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-37043992778384570462012-03-14T07:00:00.000+11:002012-03-14T13:58:37.491+11:00The Quiet Sales Cat – Are they Really Selling?<br />
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During the production of our book <i><a href="http://thesalescat.com.au/">Sales Cats</a></i> much discussion was had about the behaviours of those Sales Cats—top gun sales people.</div>
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Most people's perceptions are that all sales people are gregarious, loud and ego driven. In some cases, elements of this is true. There is no doubt that self confidence, high energy and resilience rank highly in top performing sales people. So what about the quiet ones?</div>
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Today I was building a sales strategy with a CEO of a wonderful small business in Perth when we started to discuss one of his high performers. "He has all the attributes you describe in a Sales Cat and a lot of the competencies you outlined in the Banjar competency model" he commented, "but he is unusually quiet and often says, "I'm not really selling."</div>
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"What?" I said, "Not really selling! How could that be?"</div>
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The facts are this guy is so comfortable in his particular selling environment he has become the ultimate stealth bomber Sales Cat. He knows his product well, he is experienced in the particular trade he sells into and most of all he clearly understands how his product solves problems and helps the customer see this. He is a true business person who sells!</div>
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The tip here is this. Recruit sales people who know their product or service well, however make sure you recruit and coach people that are intimate with the application of their product or service in it's business environment. What problem does it solve? How will it add value to the clients business so they get better? Teach your current Sales Cats about the industry they sell into. If it's retail get a retail person to describe the language, issues and gaps to success in retail.</div>
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These quiet sales stars will grow raving fans in your customer base and no competitor will hear it coming.</div>
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<br /></div>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-59666521814231137492012-03-07T07:00:00.000+11:002012-03-07T07:00:06.109+11:00The Sales Funnel (or Sales Pipeline) Part 2<br />
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A sales funnel is for sales. CRM is for managing the data about customer relations.</div>
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A commonly cited definition of CRM is that of CRM (UK) Ltd (2002), as follows:</div>
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Customer Relationship Management is the establishment, development, maintenance and optimisation of long-term mutually valuable relationships between consumers and organisations.</div>
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Let's unpack this definition.</div>
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The key to the definition is <span style="text-decoration: underline;">long-term mutually valuable relationship</span>. This is based upon a definition of marketing that considers marketing as a mutually satisfying system of exchanges (for example Baker 2002).</div>
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So CRM is the building <span style="text-decoration: underline;">and maintenance of long-term customer relationships</span>. The relationship delivers value to customer, and profits to companies. The relationship is supported (but not driven) by cutting edge IT. </div>
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The business strategy is based upon the recruitment, retention and extension of products, services, solutions or experiences <span style="text-decoration: underline;">to customers</span>. This is the core of CRM.</div>
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CRM is not an indicator of sales effectiveness or sales process unless the system you use directly and accurately reflects the organisations ACTUAL sales process. CRM is not sales pipeline! </div>
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Now, get your sales process right, build an authentic sales funnel/pipeline and then coach it. Simple. </div>
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Once that is done investigate and implement an accurate CRM strategy with a company who has a track record in developing and implementing CRM as their core business.</div>
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<br /></div>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-87543808338683542012012-02-29T07:00:00.000+11:002012-02-29T07:00:05.153+11:00The Sales Funnel (or Sales Pipeline) Part 1<span class="Apple-style-span" style="font-family: Helvetica; font-size: 12px;">I am now officially tired of organisations that feel their CRM is a pipeline. Lets be clear—it is not!</span><br />
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The sales process is often compared to a funnel where new leads coming into the system (prospects) are placed into the top of the funnel (the widest part) and then worked through the system. The salesperson may then use a number of techniques such as informing, persuading, providing information, demonstrating until, at the narrow end, an order is placed and a sale is closed when payment from the customer is received. A sales funnel report presents a "snapshot" of your sales function at any given point in time. </div>
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The funnel framework works fairly well because for all new leads that are generated by marketing, there is a closing rate that represents the sales that ultimately result. The number of resulting sales is usually significantly less than the number of total leads generated hence it is useful to think that as leads work their way further down the funnel, there will be less and less of them until they come out the narrow end as sales.</div>
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One important thing to note is that organizations define each phase in the process (or, part of the funnel) differently based on their authentic sales process. The pre-defined ‘Sales Steps’ in an off the shelf CRM system rarely cover your unique sales process therefore sales people will not naturally follow it. </div>
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Each step working through the funnel should have clearly defined criteria so that there is specific knowledge about all the leads at that point (questions and rules need to be developed for each step). In other words, leads become more and more qualified as they work their way through the funnel, and at each step you will know exactly what that specific level of qualification is. </div>
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Another important thing to keep in mind is that the funnel is a great way to track and forecast sales (a great tool for sales leaders) as well as gauge marketing activity.</div>
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By running a sales funnel report, the sales manager can see how many leads are at each step, if there are any "bottlenecks", or if there are an insufficient number of leads at any stage. It allows the sales manager to check the sales effectiveness of the team. Armed with that knowledge, the sales manager may instruct his or her sales force as to where they should focus more attention to keep sales at the desired level. That’s great sales coaching! They can then also work closely with the marketing manager to ensure they are generating enough leads to hit sales goals, whether the leads are of high enough quality, or what needs to change to hit sales goals. That, of course, brings about sales and marketing alignment not warfare. </div>
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Get your sales process right, build an authentic sales funnel/pipeline and then coach it. Simple.</div>
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Stay tuned for the definition of CRM in my next post, just to completely clear things up.</div>
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<br /></div>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-13144811382115635272012-02-22T07:00:00.000+11:002012-04-18T14:22:50.473+10:00It's agony buying from you!<div class="separator" style="clear: both; text-align: center;">
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<span class="Apple-style-span" style="font-family: Arial;">Following a recent atrocious experience I appeal to all customer driven organisations to improve their operations.</span></div>
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As a devoted Essendon Football Club member, the new AFL TV rights deal means we must have FOXTEL to view all games live. So begins the installation agony...</div>
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Over two months we have, at last count, spoken to 16 people, had four separate visits from tradespeople who were unable to proceed without further authorization and spent collectively over three hours talking to automated voice machines and call centre staff. </div>
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Last night, at the end of our tether, I spent 67 minutes on the phone trying to find someone in FOXTEL to care about and consider the challenges we were having with a sympathetic ear. </div>
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Over an hour later one person finally said sorry. He worked through my concerns and then, wait for it, he asked me to ring back again in the morning because everyone in the orders department had gone home! I said "If I have to ring back in the morning it will be to cancel the order!" He agreed to try and get a message to them (maybe tie it to a stone and throw it). </div>
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Clearly, their business has become so bureaucratic and process driven they have lost focus on the kind of business they are in, the customer business.</div>
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This got me thinking. What if they tried buying from themselves? How do you keep the human element to sales and service in this cost down economy?</div>
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What was sadly lacking here was:</div>
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<li style="font: 12.0px Arial; margin: 0.0px 0.0px 0.0px 0.0px;">Someone to truely listen</li>
<li style="font: 12.0px Arial; margin: 0.0px 0.0px 0.0px 0.0px;">Someone with an intent to solve and help make customer satisfied</li>
<li style="font: 12.0px Arial; margin: 0.0px 0.0px 0.0px 0.0px;">A process that allows common sense and doing the right thing as a norm</li>
<li style="font: 12.0px Arial; margin: 0.0px 0.0px 0.0px 0.0px;">The ability of a manager to take control and change the outcome to a happy one.</li>
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Proctor and Gamble have just spent millions getting the full story about their customers on a number of products with stunning sales results. Once they let customers drive the innovation and sales model they could deliver a product and service that matches.</div>
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Here is a test for today. Go undercover for a day, try and buy from your own organisation and see how it goes? Document the experience and process map it. Then feed it back to all in your business so you get better. </div>
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Secondly, look at how you can ‘humanise’ your business again. In this new world of economic uncertainty and volatility an understanding, active listening and commonsense approach to serving your customer could just become a modern day competitive advantage.</div>
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</span></span></span></span></span></span>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-62549705974877114692012-02-15T07:00:00.000+11:002012-02-15T07:00:06.533+11:00Lets drop the price and sell a bit more!<span class="Apple-style-span" style="font-family: Tahoma; font-size: 11px;">Consider the following scenario. </span><br />
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You are just leaving for an important meeting with a major potential client when the phone rings and a very excited territory manager asks you for a quick decision. She is on her way to a very important meeting and has just been informed that she must make a final proposal in 30 minutes. </div>
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The conversation goes like this: </div>
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"There is no way that I can get any more sales of "Wonder Widget" if you insist on selling it for $10.00 per unit. Now do you want to sell more or not?" Of course you do. "Well I am convinced that I can get the state contract if we offer it at $9.00. This will increase my state sales by 50%. How about it?" </div>
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You trust her judgement and are pretty sure that she will really get that 50% increase in sales. Of course it will almost certainly mean that the new state contract price will flow on to the existing customers. The increase in volume would really help your national sales, not to mention relations with those in high places. </div>
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Your gross margin is 20% and your business group profit is running at $98,000 per year. It would be a major achievement to get this up by $100,000 pa. A slight problem is that you are under strict instructions not to let your total profit fall below $98,000. You suspect that they really mean it this time!</div>
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Question: Is this a good deal? </div>
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How many more units (%) would you have to sell at the reduced price to ensure total profit does not fall? </div>
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Here is an example.</div>
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<b>Today: </b>You sell 100 units at $10.00 each = Revenue of $1,000 </div>
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<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Your gross margin is 20% </li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Therefore Total Profit is ($1000 x 20%) - $200</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Profit per unit is ($200 profit divided by 100 units sold) - $2.00</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Cost per unit is ($10.00 minus profit of $2.00) - $8.00</li>
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Now you drop the price by 10% to $9.</div>
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<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Costs are not going to change and from the above example each unit still costs $8.00</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">This means that you now make $1.00 per unit profit when you sell at $9.00</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Your previous profit level was $200</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">You now have to sell 200 units to make the same $200 profit</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Since you were selling 100 previously this means an increase of 100%</li>
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<b>Tomorrow: </b>You must sell 100% more units after reducing the price by 10% in order to make exactly the same profit as you had before you reduced price. Sell only 90% more units and you will reduce your profit. </div>
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Now use the table below to find out how much more you have to sell, to make exactly the same level of profit as previously. </div>
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Example: Your gross margin is 25% and you decide to cut your selling price by 10%. </div>
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Locate 10% in the left hand column and follow across to the figure in the column headed 25%.</div>
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You need to sell 66.7% <b>more</b> units to produce the <b>same</b> level of profit as before the price reduction.</div>
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<b>Action</b></div>
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<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Work through the process described above.</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Ensure that every member of your sales team who may have an opinion about what price you should sell your product or service at, is familiar with this table.</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">More importantly, that they all know how to do the calculation themselves</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Work with you coach to develop a presentation to your sales team on the pitfalls of discounting.</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Prepare specific examples using your own products</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Involve your team in calculating the impact of price reductions.</li>
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</span></span>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-67062572220426975382012-02-08T07:00:00.000+11:002012-02-08T07:00:05.818+11:00Why have strategic business meetings?<span class="Apple-style-span" style="font-family: Tahoma; font-size: small;"><span class="Apple-style-span" style="font-size: 11px;"><span class="Apple-style-span" style="font-family: Times;"><span class="Apple-style-span" style="font-size: small;"></span></span></span></span><br />
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Strategic Business Meetings are a very useful method of understanding what your customers actually value when it comes to their business. Keep in mind without customers you are dead, period. Not knowing why customers do what they do or what they value is like having a tooth ache and not going to the dentist because you are scared.</div>
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Traditionally in Australia customers very rarely tell us they are unhappy or dissatisfied with our service or offering, they just go somewhere else. Therefore we should spend as much time as possible understanding them and their reasons for doing what they do.</div>
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In the late eighties, IBM took a group of their best sales people off the road for a 2 week period to conduct a test with stunning results. They instructed these sales people to go to their top 15 customers and spend time understanding them and their blockages to growth and success. Of course this was very new ground for these people as they were used to hunting and selling product, however the results of this exercise were staggering. After this exercise IBM found that the group of customers interviewed and understood spent nearly 21% more with IBM in the next financial year. Pretty amazing result considering all the sales people did was to stop selling for a moment, take a breath and take a little bit of time to understand their customers better.</div>
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Following is a road map for conducting Strategic Business Meetings with your best customers, good luck.</div>
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<b>Objective: </b>To increase the interaction between key customers and management both in the quality and frequency of calls.</div>
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<b>Rationale: </b>We believe by making key customers feel special and understood we will achieve and secure more work from them in the future.</div>
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<b>Outcome: </b>To gain valuable understanding of a customers environment, so as to continue to present unique selling propositions and ideas to them.</div>
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<b>The Process:</b></div>
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<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Define Key Customers</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Develop an Engagement List</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Contact Key Customers by phone</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Conduct a Strategic Business Meeting</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Follow up with a thank you letter or email</li>
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<b>1. Define Key Customers</b> – Strategic Business Meetings should involve your Key Customers or “Gold Stars”. Using your database you can identify your 20 – 30 most valuable customers. If you wish to more accurately identify the most valuable client list you can use the “Luxury of Choice” process.</div>
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<b>2. Prepare a List or Report</b> – From that produce an excel spreadsheet that you can use as a planning document.</div>
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<b>3. Contact Key Customers</b> – Keep in mind this is all about the customer, we must remember this is not a sales call; it is not another opportunity to front product. You are going to use this time with your customer as an opportunity to gain understanding of their business problems and “blockages to success” that will enable you to assist in tailoring solutions in the future.</div>
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You are calling to make time with them, respect the fact they have little of it! A suggested approach may be:</div>
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<b>You:</b><span class="Apple-tab-span" style="white-space: pre;"> </span>“Good Morning <span style="text-decoration: underline;">Michael</span>, the purpose of my call is to see whether you would have the time to meet with me at some stage to discuss what is on the horizon for your business, which will assist us in the planning of our business? As one of our best customers I was hoping by spending some time with you, approximately thirty minutes, we could learn how to help you and your business better. Please keep in mind that this is not a sales call.” </div>
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<b>You:</b><span class="Apple-tab-span" style="white-space: pre;"> </span>“Do you have a time that suits you?" (have diary ready) </div>
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<b>Customer:</b><span class="Apple-tab-span" style="white-space: pre;"> </span>“How does 9.30am on Wednesday sound?”</div>
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<b>You:</b><span class="Apple-tab-span" style="white-space: pre;"> </span>“That’s fine Michael, I think this should be a pretty informal process so would you like to go out for a coffee/sandwich/quick bite or is the office O.K.?”</div>
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<b>Customer:</b><span class="Apple-tab-span" style="white-space: pre;"> </span>“Good idea …………………………..”</div>
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<b>You:</b><span class="Apple-tab-span" style="white-space: pre;"> </span>“How does Acme café sound?”</div>
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<b>Customer:</b><span class="Apple-tab-span" style="white-space: pre;"> </span>“Done!”</div>
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Keep in mind you have 15 seconds to convince this valuable customer that they should see you and spend their valuable time with you. </div>
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You must have a<span class="Apple-tab-span" style="white-space: pre;"> </span><b>- Purpose</b><span class="Apple-tab-span" style="white-space: pre;"> </span>for the call,</div>
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<span class="Apple-tab-span" style="white-space: pre;"> </span> <b>- Process</b><span class="Apple-tab-span" style="white-space: pre;"> </span>how long will this take?</div>
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<span class="Apple-tab-span" style="white-space: pre;"> </span> <b>- Payoff</b><span class="Apple-tab-span" style="white-space: pre;"> </span> what will we both get from spending time together?</div>
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Plan out your approach, document or write it down if you must, practice it and then put it into practice. It will feel a little awkward at first, however as you get some appointments it will become easier. Also the role play above is a guide, it is not a script. Change it and develop it to suite your own style and delivery method but don’t forget the rules, purpose, process and payoff.</div>
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<b>4. The Strategic Business Meeting</b> – With the key objectives and outcomes defined meet with the customer as scheduled. Be on time! Firstly you must thank them for their continued support and custom. Again restate the “purpose, process and payoff” and check for agreement. “Is that O.K.? “Are you right for time?” Then by asking clever, “open questions” you should look to allow the customer to open up about their business. A good question to start with might be: “So John, I know a little about your business, however I would love to know more, especially about what the next 12 months has install for you?” or “Could you describe to me the 3 biggest challenges you face in your business in the next 12 months?”</div>
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Keys for this meeting:</div>
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<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Planning</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Open questions</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Empathy</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Active Listening</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">It should feel like you are genuinely interested in them and their business. It should not be an interrogation with the secret police!</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Take notes (remember to ask for permission to do so at the beginning of the meeting)</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Note down actions agreed on and then carry them out.</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Look for clues!</li>
<li style="font: 11.0px Tahoma; margin: 0.0px 0.0px 0.0px 0.0px;">Look for opportunities to close the GAP for them.</li>
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<b>5. Follow Up</b> – After the meeting is completed make sure the information gained is inputted into the appropriate database or document. You should also send a thank you message. Using email, a card, with comps slips or a letter with a simple short message can be a powerful indication that you care and appreciate the time they gave you. Make sure all agreed actions are followed up promptly or within the agreed time frame.</div>
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Boiler</div>
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</div>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0tag:blogger.com,1999:blog-7542308671262492337.post-39034045054110200672012-02-01T07:00:00.000+11:002012-02-01T07:00:00.671+11:00Key Account Management<br />
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<b>The Sales Science of gaining, developing and keeping Key Strategic Customers with multiple projects.</b></div>
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With sales changing so rabidly for all sellers of products and services post GFC, Key Account Management is the one area that has seen major shifts in the buyer behaviour model and the skills needed to respond through sales effectively.</div>
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Unfortunately for most sales organisations this is one of the most organically developed, poorly skilled and resourced areas of a sales teams. Most organisations key customers have grown via an organic simple sales approach into large high value business using the same simple sales approach.</div>
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This is a problem, a big problem in 2012.</div>
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If these customers supply a large part of the organisations revenue and we still treat them as ‘simple’ customers who we simply call on more often, wine and dine sometimes, and keep via price/margin shrinkage, we will inevitably loose them. Ask these questions of your sales team:</div>
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‘Is sales getting easier or harder?’</div>
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‘Are we being treated in sales as a commodity more today than before?’</div>
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‘Are customers demanding more support, technical expertise, knowledge and time of our sales people?’</div>
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The answers, nearly without fail are yes, yes and yes. </div>
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But hang on a minute. They want commoditisation and yet more ‘consultative’ support? Surely this is an impossible position for a business to fund with the massive cost of running a sales team? </div>
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Of course it is, however that is the reality due to many reasons and the real reason it is essential for sales groups to build their Key Account Management Expertise.</div>
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At Banjar Group we take a unique approach to developing the skills of Sales Teams when it comes to Key Account Management.</div>
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<b><span class="Apple-style-span" style="font-size: small;">Science + Experience + Skills + Strategic + Planning = KAM</span></b></div>
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<b>Science</b> – With Sales so often devoid of any ‘science’ we must bring a level of science to improve the effectiveness of KAM within organisations. The science may involve:</div>
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<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Consumer behaviour modelling</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Use of DISC, MBTI and or TMS profiling behavioural tools</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">KAM Competency Modelling</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Innovation</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Key person analysis</li>
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<b>Experience</b> – The collective global wisdom of Banjar Group combined with its 180+ years of selling experience mean one thing, we know what it takes to win big business. We have:</div>
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<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Run customer ‘war room’ scenarios</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Planned and been successful in winning major accounts of up to $50 million in value</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Lead, coached and participated in large scale key account management at both B2B and B2C levels</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">An understanding of the culture and skills required to win big and keep big</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">The knowledge to communicate this wisdom and create effective learning beyond just ‘ego’</li>
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<b>Skills</b> – What are the skills needed to create great sales behaviours, techniques and outcomes at the KAM level? They are over and above the simple sales training matrix. They may include:</div>
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<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Coverage modelling</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Team selling</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">‘War’ room principles</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Strategic Business Meetings - SBM</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Question techniques for high level selling</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Negotiation skills</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Call structure for KAM phases</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Follow up matrix</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Account planning</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Problem solving at KAM level</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">‘Octopus’ selling in layers</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">A pure consulting model – the art of sales consulting</li>
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<b>Strategic</b> – What are the strategic foundations of why we must develop this business? The essential reason for selling. Does it affect the critical success factors of our business? This may include:</div>
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<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Sales Strategy – Vision, philosophy, story, principles, product, resource</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Coverage</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Product portfolio analysis – what fits?</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Forecasting</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Justifying resource</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Short term v long term</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Value proposition</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Revenue, cost, risk</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Business cases for profitability</li>
</ul>
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<b>Planning</b> – If we have all the above checked and taught, then implementation is required. For this the best KAM planning skills will lead to the most effective sales results. High-powered planning is key to KAM success, fact! The areas covered here are:</div>
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<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Planning as a culture for sales</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Tools – 1 page plan and beyond</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Project planning</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Follow up</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Activity at sales levels</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">3 Tier plans</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Short term v long term</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Decision process</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Forecasting Goal, Budget and Target</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Phases of activity</li>
<li style="font: 12.0px Helvetica; margin: 0.0px 0.0px 0.0px 0.0px;">Change force fields</li>
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<span class="Apple-style-span" style="font-family: Helvetica; font-size: 12px;"><br /></span>Mike Boylehttp://www.blogger.com/profile/00045763484548360307noreply@blogger.com0