Black Sales Journal

Think about it…your utility as a sales professional is partially based on the benefits you bring to the customer.  You cannot escape the fact that there may be equal, or even superior products out there. There may be better services, and for sure better prices.  Remember that you have to bring something that others don’t deliver.  Piece of mind is just that important!

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A very successful sales professional once said to me, “The most important thing I can do is to have some true relationship time with my most important customers.  My objective is to determine what problem or future concern is keeping them awake at night.” She then stated, “If I can figure that out, I can give them something that they have not been able to get from anyone else, peace of mind and rest.”

Hmmmm, there is some truth to that isn’t there?  The problems that clients have are not limited to making money and having a sound balance sheet today, this concern goes into the future.  Our customers have a multitude of things on their mind, and most of them have nothing to do with the products that we sell.

Our job is to probe discretely and listen actively to determine if there is anything in the dialog that gives us an understanding of the customers biggest, most pressing concerns.  Help the customer solve pressing issues using your product, and when your product is not enough, use your knowledge and resourcefulness.

If you are able to solve them, you have cemented a stronger relationship that is security in itself.

A Real Life Example

This individual sold financial products.  This included business life insurance products and pensions and retirement instruments.  Here is how the story played out:

My friend, who I will call Deb, worked with a fairly large organization that was a leader in selling financial products to businesses.  Her relationship with the customer was 3 years in tenure, and solid in terms of openness and sharing of information.  She was in his office for a review of her products financial results and overheard a conversation regarding the turnover that her customer was having regarding their employees for the last 2 years.  It was getting worse, and once they finished training a new employee, it was often less than 18 months before someone snatched that employee from them.

While at a business lunch the following week, she shared that she overheard a conversation about this issue.  His response was that employee retention was a huge issue, and that the cost of hiring and rehiring, training, and downtime were taking a huge financial toll on his organization.  Bam! Do you doubt that this problem was keeping this individual and potentially others in his organization up at night?

They discussed some of the reasons that this might be happening, and the customer volunteered that much of this was the result of his location being far from the main town, as well as the fact that his major competitors were offering ‘sign on’ bonuses for skilled employees.  He advised that he was not in a position to offer anything like these bonuses, as it was fundamentally wrong, and way to expensive.  Deb stayed on this one and with help from one of her contacts at the organization determined that the hiring and training cost for a new employee averaged 32% of first year wage.   She scheduled an appointment and advised that they could save money by doing the following:

Initiate a profit sharing plan (Deb’s company’s main product) that the company’s employees could begin contributing to after the 1-year mark.  She urged them to make a matching employer contribution that would get interest from the employees and keep good participation in the plan.  Additionally she suggested that they should talk to their accountant about the possibility of reimburse their employees for their some of their travel costs as it was a factor in the turnover.  The costs would be minimal if the turnover abated according to Deb and the organizations financial people.

Deb’s point was that although they did not want to offer incentives, that they were paying for it anyway in training costs.  They were training for their competition.

They bought the concept of the employer matching profit sharing plan and they also started a plan that compensated employees for some of their travel costs.  This one sounds pretty simple, yet the important part is that this is what was vexing the customer.  It sold and made them happy even though Deb’s only portion was the profit sharing (401k).  The whole package was the attraction, and the employees embraced it.

What Did Deb Do?

It was pretty simple in the end.  She found something that was problematic, and she helped to fashioned a solution.  That is what a true sales professional does…. solve problems! She didn’t have to do anything earth shattering or magical.  It took time and patience to put together, yet this paid dividends.  She got them to realize that it would be good money to spend.

Her solutions beyond those products that her company could offer, they were designed to move the customer past the problem with simple solutions.  Deb made a good amount of money using tactics like this.

What Should You Do?

Be vigilant as to what problems your customers have.  Listen with the intent of knowing what you might be able to help solve with your product, but also what might help your customer even if you (or your company) are not going to benefit.

If you do the following you can help your customers profit, and you will as well:

• Listen attentively (Black Sales Journal 8/14 – Are You Listening to Your Customers?)
• Find solutions …Then deliver solutions (Black Sales Journal 6/20 – Deliver Solutions…Then Sell)
• Seek feedback (Black Sales Journal 8/28  – Should You Ask Your Customer For Feedback?)

Be a visionary and see past what your product does.  Solve problems and secure trust and your customer’s dependence on you.

You cannot do much of this without a good relationship (Deb had one before she knew about the problems).  Make sure that it is solid and realize that if you are not solving the customer’s problems, someone will. If you are spending time with the customer outside the office, you will find it a great tactic to use to get to the heart of many of the problems that the customer might even take for granted if he or she is sitting in the office when you talk.  A relaxing medium such as a restaurant or bar can help.

Be a problem solver and reap the benefits.  Please contact me with any questions.  Reach me at Michael.Parker@BlackSalesJournal.com.

Master the Relationship!

Sales professionals know that after the tortuous process of winning customers, account-by-account, it would be literally sinful to have your competitors wrest them from you.  There is truth to that, yet with it comes the fact that the only way that you can keep it from happening is to have a product that no one else offers.  Very few of you are fortunate enough to be able to say that.

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As difficult as the process of retaining customers can be, it is a luxury that others would be envious of.  The objective is to have that process be filled with relationship building, as well as experience sharing, coupled with unmatched service.  As far as your competitors, it will make the act of robbing you of your income and your customer so much more difficult.

Most Black sales professionals are working so hard to achieve general acceptance and get past the issues that constitute preference and perception that they are glad for the victory when they reach that goal.  Strengthening the relationship in the following ways could be the difference between being a good sales professional and being a ‘star’ sales performer.

Building that Wall Block by Block

Building that wall is a process.  Whether you are in B2B or B2P, the process is very similar.  Here are some of the main attributes:

• Make the buying experience memorable
• Master the Relationship
• Give unparalleled service
• Expose them to vertical relationships
• Treat them to horizontal relationships
• Give Recognition – Nominate them for Acclaim
• Communicate
• Call in Favors

Don’t think for a moment that relationship building is easy.  It is however the forte’ of the best sales professionals.  Why not you?

Make The Buying Experience Memorable – You cannot just win, you have to look good in doing so.  Gaining the account in the face of strong competition is great.  Winning because you are what the customer needs creates a value that others might not have.  If all else is equal, and you win because the customer perceives that his organization is better off because you are the expert that they need (BSJ – 12/20 Your Customer Needs an Expert) you can now begin the process of securing other sides to the structure you are building.  Being the Consummate Professional (BSJ – 3/7 Be the Consummate Professional) throughout the buying process is just as important.  Buyers may buy for a number of reasons, yet the composite is that they got a great value.  Part of that value is you.

Master the Relationship – You will need to excel in the relationship.  As stated in BSJ January 13th and January 20th, Deepening Your Customer Relationship 1&2, your job is to be the expert on this customer.  Establish a customer profile, and work it.  Know the buyer’s family, and his or her most important preferences.  Achieve the level of a  “business friend”, and “business consultant”, during the workday and a social acquaintance during off hours.  This constructs walls that generate a preference all their own.

Give Unparalleled Service – We have talked about giving unparalleled service before in BSJ (Black Sales Journal 1/13 – Deepening Your Customer Relationships).  It will separate you from the other sales professionals.  Remember, this is about being responsive.  Solid follow-up is at the heart of this one.  Do what you say you are going to do; by when you say you are going to do it.

Expose them to Vertical Relationships – You may shutter at this one because you shield your accounts from management, yet it works in a way that cannot be duplicated.  Your confidence as the quarterback will allow you to introduce them to your organizations upper, and in some cases top management.  They will not only feel important, they will feel privileged.  Arrange for them to meet the highest level you can muster.  Lunch or Dinner (if appropriate) could serve as solid forums to give them the feel they need for the organization.  Even a meeting in the office works.   The more important people you clients “know” the better off you are at their time of need.

Expose them to Horizontal and External Relationships – The horizontal relationships can be enriching as well.  Your service team, your sales assistant, and anyone else who helps you make it happen.  I also include in this your ability to include introductions to key accounts that have a like interest in business pursuits including suppliers, Chamber sand other membership groups, etc.  Be the resource that no one else can be for them.  Break the ice for them in relationships with other “like thinking” customers of yours that could benefit them, and build your wall.  They could increase their profits because of you.

Give them Recognition – Sometimes, recognition can go a long way.  An honor bestowed in the form of a luncheon for a customer’s management staff, and a $40.00 plaque can go a long way toward locking them in.  Sincerity in this award is important; yet even more important is doing it correctly.  Be there in person and give some amount of notoriety.  If covered correctly by their newsletter, you might be surprised how far it will go.  In your customer’s mundane world of supplying nuts and bolts, to be recognized as an innovator in warehousing, logistics, safety, and other notable areas is a proud moment.

Communicate, Communicate, And Communicate – You are never at a risk of over communicating.  Communicate early and often, monitoring your communications by summarizing and reducing it to writing.  Give bad news as early as you have it confirmed, and give your good information with the same pattern.  You will be rewarded with credibility, credibility, and more credibility.

Call In Favors – If there was ever some one to do if for, your best customers are it.  Call in favors for your best customers when necessary.  This means you need make sure that when you need it, you have the “capital” in your operation to get something done for your best customers whether it is exceptions or pricing influence.

The Best Value

If you do all of these things, it will represent the best value imaginable for your customer.  The customer will have an engaged, resourceful sales professional.  You will have a client who will always be a  “hard target” for any other sales professional to pick off.  You will need to be competitive, but not always low in price.  You will need a good product, yet not necessarily the industry leader.

The best is that so much of this focuses on you, the sales professional.  Over time, this is almost all about you.

Thanks for reading Black Sales Journal.  We welcome your comments. Reach me at Michael.Parker@BlackSalesJournal.com.