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Answer Upon - Sales Process - The Secret to Closing More Sales
As you have probably experienced there is a lot of hype in the business and marketing world. New concepts, revolutionary methods and the like land in our in boxes every day. But I'm going to confirm something you probably already know - the fundamentals of marketing haven't changed for decades. Here's my summary of the marketing principles that have stood the test of time.1. Know your customer. Know their wants and desires.2. Offer the customer more benefits from your product or service than they would get by keeping their wallet closed, or shopping with the competition.3. Have a unique selling proposition for your business. For example Federal Express Couriers 'Ab
There are few clerical products as time saving as address labels. For any project, these little marvels add professionalism without sacrificing efficiency. Address labels are by far one of the most effective supplies when it comes to the office.When you arrive at the office supply store you may become overwhelmed at the options available when it comes to address labels. While it would seem there would only be one or two choices, the fact is typically at least one aisle, if not two, are full of various styles and design. Likewise, if before you go to the office supply store you look through the label options in your word processor, you will be amazed at the number of options
What is a Business Problem?
A business problem is any activity or outcome that negatively impacts a business. Examples of negative impacts include reductions in revenue, profits, customer satisfaction, employee productivity, job satisfaction, etc.
Here is an example of a business problem description:
"Many mission-critical software applications (e-business, manufacturing, point-of-sale, etc.) need to access relational databases in order to function. If a database has problems (goes down or suffers data loss or corruption), application downtime can cost companies tens of thousands of dollars per minute in lost sales, lost customers, and lost opportunities."
In the above example, the business problem is a database that is not functioning properly.
What is the relationship between Business Problems and the Features and Benefits of a product or service?
Features are what actually solve business problems. Benefits are what customers enjoy when the business problem has been solved.
The only features prospects actually care about are the ones that will solve their own specific business problems. If we randomly spew long lists of features and benefits at prospects, in effect we are hoping they are already aware of their business problems, and they will somehow figure out which of our (product or service) features will solve their business problems. This is a very inefficient way to sell. Plus, we run the risk that our prospects will NOT figure out which features will solve their business problems. Or, they may become bored and "switch off" before we mention features that may act
Networking is a great way to market your cleaning business, and in order to do it effectively, you need to plan ahead so you know what you want to accomplish at each event. You also need to grow and nurture your network to keep it fresh!Networking isn't about seeing who can collect the most business cards. How many times have you attended an event, and then let the pile of cards sit on your desk? Have you ever gone back through the cards and wondered what the person looked like who gave you their card? Wouldn't it feel awkward to call that person up when you don't even remember meeting them or what they look like? Chances are, the cards will end up in the trash.In order t
Here is an example of a business problem description:
"Many mission-critical software applications (e-business, manufacturing, point-of-sale, etc.) need to access relational databases in order to function. If a database has problems (goes down or suffers data loss or corruption), application downtime can cost companies tens of thousands of dollars per minute in lost sales, lost customers, and lost opportunities."
In the above example, the business problem is a database that is not functioning properly.
What is the relationship between Business Problems and the Features and Benefits of a product or service?
Features are what actually solve business problems. Benefits are what customers enjoy when the business problem has been solved.
The only features prospects actually care about are the ones that will solve their own specific business problems. If we randomly spew long lists of features and benefits at prospects, in effect we are hoping they are already aware of their business problems, and they will somehow figure out which of our (product or service) features will solve their business problems. This is a very inefficient way to sell. Plus, we run the risk that our prospects will NOT figure out which features will solve their business problems. Or, they may become bored and "switch off" before we mention features that may ac
Recently the Federal Trade Commission put forth a franchise report for possible rule making. In the report is offers possible law changes, which will screw over small business. Isn’t this so typical of the Washington DC bureaucracy with their fingers up everyone’s you know what? The Federal Trade Commission appears to want to revamp the franchise rule and effectively crush small business franchised outlets.The biggest issue now in American Commerce is how can small businesses compete with the larger Box Stores? Well, through economies of scale, small business co-ops and franchising. But if franchising is inhibited in the market place you have in fact eliminated the competition
In the above example, the business problem is a database that is not functioning properly.
What is the relationship between Business Problems and the Features and Benefits of a product or service?
Features are what actually solve business problems. Benefits are what customers enjoy when the business problem has been solved.
The only features prospects actually care about are the ones that will solve their own specific business problems. If we randomly spew long lists of features and benefits at prospects, in effect we are hoping they are already aware of their business problems, and they will somehow figure out which of our (product or service) features will solve their business problems. This is a very inefficient way to sell. Plus, we run the risk that our prospects will NOT figure out which features will solve their business problems. Or, they may become bored and "switch off" before we mention features that may ac
What do you think of when I say Coca-Cola, Microsoft, IBM, GE, Intel and Nokia? Well, if you said they are all big companies, you'd be right. But they are also the six top rated global brands as judged in a survey conducted by Business Week earlier this year (2006).Why is a brand important? Obviously, a brand provides recognition. A brand sends a message to the market. The "brand" clearly identifies what can be expected from the company. Wikipedia defines "brand" as "a collection of images and ideas representing an economic producer," or " a symbolic embodiment of all the information connected to a company, product or service. A brand serves to create associations and exp
The only features prospects actually care about are the ones that will solve their own specific business problems. If we randomly spew long lists of features and benefits at prospects, in effect we are hoping they are already aware of their business problems, and they will somehow figure out which of our (product or service) features will solve their business problems. This is a very inefficient way to sell. Plus, we run the risk that our prospects will NOT figure out which features will solve their business problems. Or, they may become bored and "switch off" before we mention features that may ac
The content of your reference letters is a reflection of your character, experiences, skills, and associations with others. An exceptional reference letter can be a positive factor for you to land that perfect job, to receive that promotion, or to gain acceptance /scholarship to that dream university. You might think that reference letters are beyond your control. However, that is not always the case.You are vital to successful reference letters. Some tips to assist in the quality of your reference letters are as follows:Establish Your CredentialsGet to know people of all ages and professions. The length of your association strengthens the reference. Concentrate o
If you are going to talk about features and benefits, discuss only those features that will solve your prospect's specific business problems! Of course, you need to identify your prospect's business problems if you want to have this kind of highly targeted discussion.
If your employer's product or service training programs do not specifically address business problems, you will need to do some digging to uncover them. Ask the question, "What problems does this product or service solve?" Another way to ask this question is, "What would motivate a prospect to make the investment required to buy this product/service?" Then, once you have made a list of the most important business problems, ask, "What questions can I ask that will help me figure out whether a prospect has any of these business problems?"
When you become an expert in business problems and related qualifying questions, your education will not be complete. You also need to learn the questions you can ask to quantify the impact of each business problem.
What is a Quantified Impact?
Quantified impacts are dollar values or percentages with associated time frames that can be assigned to specific business problems. In the earlier business problem description, the quantified impact was "tens of thousands of dollars per minute".
Quantified impacts are an invaluable aid to closing sales. How? If the quantified impact of a business problem exceeds the investment required to fix the problem
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