Here's the September 2010 issue of Psyche-Selling TM eNewsletter, and many companies are either looking to either rev up sales for the last 3 months of the year, or are looking to planning next year's sales targets.
In China, many sales people are complaining that customers simply buy based on price, and customers' loyalty are almost non-existent.
Well, the fact is that customers' loyalty is always earned, and not given. As such, as sales people would have to actively engage customers in order to win their loyalty.
Hence, this month's topics:
This issue's main article is on "How to Engage Your Customers to Exceptional Sales Results", and the focus is on how sales people can actively engage customers to increase their loyalty levels, as well as to deliver exceptional sales results.
In the meantime, please check out our Asia HR Summit 2010 How to Engage Your Employees to Exceptional Performance to be held in Shanghai on 21 October 2010.
How to Engage Your Customers to Exceptional Sales Results
by c.j. Ng
According to a market research conducted in 2006 (Eisenberg & Eisenberg), simply attaining a high level of customer satisfaction does not seem to guarantee the customer's business. In fact, 60% to 80% of customers who defect to a competitor said they were satisfied or very satisfied in the research just prior to their defection.
In fact, many sales people and sales managers are lamenting that customers' loyalty is so low, they will just buy from anyone who can offer the same quality and a marginally lower price.
While a lot has been discussed about what kinds of media (online or offline) should we engage our customers, as well as how shall we measure the level of customer engagement our customers, very little was discussed about what should be the content of our customer engagement initiatives. In other words, if we want to improve the level of customer engagement, what kinds of information must we pass to them, AND what kinds of information do we expect in return.
Here are the 3 main conversation topics that any individual sales person can communicate with the customer, so as to actively engage the customer:
Conversations Revolving Around Your Product and Service Offerings
Even though the concept of selling benefits not features has been going around for decades, many sales people are still communicating features rather than benefits to their customers. These ranges from:
Emphasizing the hardware specifications when selling IT products;
Selling the material rather than the benefits that such material can deliver
Many sales people will argue that the buyers do have in-depth technical knowledge, and hence will appreciate the implications of the benefits that each product feature will deliver. However, here is an illustration why having a conversation that revolves around your product benefits in addition to the technical features is essential to sales success.
If a customer is shopping for a new car, chances are the car sales person is going to open the hood to show the customer the "technical details". However, even if the customer knows nothing about car engines, chances are he or she will pretend that they know, and make some positive comments to the car sales person such as "Not bad" or "Looks good to me". Customers, in general, hate to admit they don't know certain things. As a sales person, you will need to present your offerings in ways they can understand.
Hence, in order to strike a conversation that revolves around your product or service offerings, you will need to:
Conversations Revolving Around Your Added Value as a Sales Person
With the advance in informational systems, be it search engines, shopping platforms or online social networking, customers have access to a lot of information that they previously couldn't get. These include information about your products, your prices and how to buy them.
Hence, if customers can buy your products off a catalogue or web site, they don't need the sales person to be a "talking brochure" or a mere "money collector". Instead, they need sales people to create value by:
Some sales people and managers may question that if sales people were to spend time solving customers' problems, do they still have the time to do the selling. More importantly, what if the solution to the customers' problems and challenges is our competitor's products?
While how each sales team or sales person responds to such thorny issues will vary, here are some guiding principles:
Hence, the question that customers are asking sales people is NOT "why should I buy your products or services". It's becoming "why should I buy from YOU?"
Conversations Revolving Around the Brightness of the Future
One of the key issues about doing business in today's world (especially in a fast developing economy like China's) is markets, along with customers' expectations, are changing very quickly.
What this means for the sales person could be:
If you are not relevant to your customers' future needs, then you may find yourself being substituted by others who are.
Hence, it is not only important to engage with customers in the present tense, it is just as vital to engage them for the future. To do this, you will need to:
The problem with implementing the above? Well, sales people are measured by current and not future performance. Especially when that future could be 3-5 years down the road. Still, smart companies and sales people who would like their customers to buy from them for years to come will commit some time and resources to partner with their key customers to create a future together.
Need help in engaging your customer to exceptional sales results? Simply e-mail firstname.lastname@example.org or call +86-136 7190 2505 or Skype: cydj001 and arrange to buy me a mocha. All information shall be kept in confidence.
Power Breakfast Hour:
26 October 2010
Join International Sales Leadership and Performance Coach c.j. Ng in this Power Breakfast Hour in Shanghai where you will find out:
How to conduct deep conversations with customers that will build trust and increase customer engagement;
How you can actively engage with customers in conversations on the product offerings, on how you can create value, and on what the future will be like if the customer keeps on buying
VENUE: Crowne Plaza Shanghai • 400 Panyu Road (near Fahuazhen Road) • 上海银星皇冠酒店 • 番禺路 400 号 （靠法华镇路）
To make this a more conducive discussion, we are expecting a small group of
about 15 people only. The room can only take in 18, so please register early
to avoid disappointments. Please e-mail your registrations to email@example.com
You can also download c.j.'s PPT on
Stop Hiring Under-Performing Experienced Sales People,
Start Developing Competent Ones that Deliver Results.
Need a Keynote Speaker for your Major Sales Conference?
Whether you are holding a conference for your regional staff, resellers or even customers, we have the right speaker who can help you deliver the spirit of your conference, and effect positive changes to meet your goals.
The topics our speakers can speak on include:
Simply e-mail your requests to firstname.lastname@example.org or call +86-21-6219 0021 for enquiries. Sample video and audio recordings available upon requests.
Practical Tips for Hospitality Sales People:
How to Ensure MICE Success for Your Event Organiser Customers
By c.j. Ng
In a lot of press releases, many international 4 and 5-star hotels are emphasising that they will be going big on MICE, which stands for Meetings, Incentives, Conventions (or Conferences) and Exhibitions (or Events), in the immediate future. In fact, most of their advertisements are promoting their MICE packages. In an even bigger picture, almost all experts are saying that the future of the hospitality business lie in MICE.
Being an event organiser myself, here are some tips for the MICE sales person to optimise MICE sales revenue and profits, especially if the sales person has been selling rooms all these while:
If you can ensure success for your Event Organiser customer, chances are the event organiser will be back for their future events. Your job is NEVER to just "peddle" the meeting rooms, nor even the F&B or the related facilities.
Your goal is to help the organiser organise successful events.
If you would like to get more and better ideas how to optimize MICE sales, revenue and profits, you can either download the PPT slides used in our workshops, or e-mail email@example.com or call +86-136 7190 2505 or Skype: cydj001 and arrange to buy me a mocha. All information shall be kept in confidence.
Sales... ...the lifeblood of a company, a matter of "life and death", survival or extinction. Indeed, something that needs to be studied, applied and re-modified consistently.
Psyche-Selling TM is set up so that companies and sales people can make healthy profits and STILL provide genuine solutions to customers.
Psyche-Selling TM would like to create an environment where customers can trust sales people to give them what they want, and NOT be pushed with all kinds of products and services. In return, customers will become loyal fans of these ethical and professional sales people, and repay them many fold for the long-term.
Psyche-Selling TM will not rest, until the above is achieved. Not just in China. Not just in Asia. But everywhere where buying and selling takes place.
Psyche-Selling TM is a wholly-owned brand of Directions Management Consulting Pte Ltd that specialises in the field of improving sales performance by enhancing the performance of the entire sales team. Apart from the regular "selling skills training", Psyche-Selling TM conducts pre- and post-training analysis, interviews, monitoring and reviews, working closely with managers and even senior management, to deliver real improvements in sales leadership and performance.
Hence, Psyche-Selling TM would like to be known as the preferred choice of outstanding and remarkable clients, and pride ourselves as such. We will also be continuing to assist our clients achieve greater heights in 2009 and beyond.
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