Santa Sues Over Unauthorized Image Use

December 23rd, 2010

North Pole (AP—Arctic Press)  Santa Claus is coming to town. And he’s stopping at the courthouse.

Santa Claus has filed a lawsuit against virtually every major manufacturer, retailer and media outlet, claiming unauthorized use of image. The suit seeks unspecified damages for instances dating back more than a hundred years.

“Santa is a globally recognized icon and thousands of companies have unfairly used his image to promote their products and services,” declared Paul E. Ester, Santa’s attorney. “Santa is entitled to control over how his image is used as well as compensation for the use of his image.”

“It’s not really about the money,” explained Santa at a press conference. “Although heaven knows my expenses keep climbing—what with the escalating costs of raw materials, ever-increasing demands by the elves union, and don’t even get me started on the skyrocketing price of Reindeer Chow.”

“No,” continued Santa, “it’s more that I’d like some say in how people portray me. Some of the commercials I’ve seen lately are just downright embarrassing.”

Santa Claus—or Kris Kringle, as he’s also known—is the world’s best-known and most-loved celebrity, after Oprah. His favorability ratings have remained high in good times and bad, making him a popular choice for businesses who want to link their brand to his cachet in an effort to boost sales. As a result, thousands of companies around the world have used his image for promotional purposes through the years.

“And not one of them,” points out Ester, “has ever asked permission, let alone paid a cent in royalties.”

An executive at a major manufacturing company, who spoke on condition of anonymity, for fear of being placed on the “naughty” list, stated, “We don’t believe the suit has any merit. Santa is a public figure and as such, falls into the “fair use” exception.”

An executive for a major discount retailing chain, who also spoke on condition of anonymity, went further, “Santa should be paying all of us. The reason he’s such a huge global brand is because he’s gotten billions of dollars in free publicity over the years.”

Santa’s attorney disagrees. “My client has been the basis of thousands of books, movies, TV shows, ad campaigns, toys, greeting cards and more. Everybody is making money off of Santa’s image but Santa.”

“What it comes down to,” Ester argued, “is fairness.”

Ester declined to comment on whether or not Jesus was considering a similar lawsuit.

How to Get More Referrals: On Breakthrough Business Strategies Radio

December 14th, 2010

One of the easiest ways to boost your sales is with referrals. A prospect who is referred to you is five times as likely to buy as any other type of prospect. And yet, too many salespeople, business owners and professionals don’t do a good job of asking for them.

Listen to my appearance on Breakthrough Business Strategies Radio with Michele Price as I share insights and tactics that will help you maximize your referrals. In less than ten minutes, you’ll discover:
    • How to make asking for referrals easier than ever
    • The best time to ask for referrals
    • How to help your customer think of good referrals for you
    • The two mistakes most salespeople make when asking for referrals
    • A simple tactic to increase your referrals quickly
    • And more!

To listen, just click on the link below. Or to download the segment to listen later, right-click the link and select “Save Target As…”

How to Get More Referrals, Don Cooper on Breakthrough Business Strategies Radio (mp3)

To learn more about Michele Price and listen to her interview other business experts on Breakthrough Business Strategies Radio (which I absolutely recommend), check out her web site: www.WhoIsMichelePrice.com.

How to Overcome Objections: Radio Interview

November 30th, 2010

Objections are an inevitable part of sales, yet most salespeople, business owners and professionals aren’t skilled in dealing with them. Which is unfortunate, because knowing how to effectively handle objections is crucial for increasing your sales.

Listen as Michele Price interviews me about how to skillfully overcome objections. In this hour-long program, Michele and I discuss:
    • What really causes objections
    • The first thing you should do when you encounter an objection
    • Why objections are actually an opportunity
    • What not to do when you’re faced with an objection
    • The “Dandelion Principle” and how it can make or break the sale
    • What to do when you can’t resolve an objection
    • And much more!

To listen, just click on the link below. Or to download the interview to listen later, right-click the link and select “Save Target As…”

Whenever you listen, make sure you have a pen and paper ready, because you’ll want to take notes!

How to Overcome Objections, Interview with Michele Price on Breakthrough Business Strategies Radio (mp3)

To learn more about Michele and listen to her interview other business strategists (which I strongly recommend), check out her web site: www.whoismicheleprice.com.

Your REAL Competition

November 18th, 2010

Do you know who your real competition is? It’s not who you think.

It isn’t the people who sell the same product or service you do. It isn’t even the people who sell products and services in the same general category as you.

Your competition is everything else your prospect could conceivably spend their money on.

It’s a concept economists call opportunity cost. And it’s vital you understand it, because it affects your sales. Here’s a simple illustration.

Let’s say you’re walking down the street in a retail area with ten dollars in your pocket. What could you do with that money? You could:
    • See a movie
    • Grab a couple of beers in a bar
    • Buy a t-shirt
    • Pick up a paperback at a bookstore
    • Eat a fast-food meal
    • Buy some drill bits for your toolbox
    • Get your shoes shined
    • Buy a pair of knockoff sunglasses from a sidewalk vendor
    • Bowl a few frames
    • Pay the cover fee to get into a dance club

You could do any of these things. But you can only do one of them. To spend your ten dollars on one of the above things means you’re giving up the opportunity to do any of the others.
 
Everything you’re giving up is your opportunity cost. It’s the combined value of all the things you can’t buy because you’ve spent your money on what you did buy.

So what will you buy? Whatever option has the lowest opportunity cost to you at the time. In other words, you’ll give up everything you value less than what you end up buying.

If you’re starving, the restaurant will have the lowest opportunity cost because you’ll happily give up everything else to satisfy your hunger.

If you’re not hungry, but you are in the middle of a home improvement project, the drill bits may have the lowest opportunity cost because your highest priority is to finish the project before your in-laws arrive.

Opportunity cost takes the concept of value and extends it, comparing the value of everything to everything else. It’s how people judge the relative value of the myriad ways they could possibly spend their limited time, energy and money.

If you’re going to send your kids to a private school, what other things will you not be able to buy? If your company spends money on a new computer system, what line items have to be cut back as a result?

Here’s what this means to you as a salesperson, CEO, business owner or professional:

1. You need to rethink your idea of who your competitors are. In the above example, the hardware store is competing not just with other hardware stores, but with the restaurant, dance club, clothing store, movie theater, bowling alley and shoeshine guy. 

2. It’s crucial you learn everything you can about your prospects. Whether they’re individuals or organizations, you need to know what else is competing for their time, attention and money. What are their goals, needs, desires, fears, values and priorities?

3. Whatever you sell, you must persuade your prospects it’s the best possible use of their money. Everyone has a finite budget. (Some are larger than others, but they’re all finite.) To buy your product or service means they have to give up some other purchase they’d also like to make. You’ve got to make the case that your offering is more important to them than any other expenditure.

It’s not enough to be able to compete with others in your industry. Like it or not, you’re competing with everything and everybody. The better your marketing and sales efforts take that brutal fact into account, the better your sales will be.

Are You Too Cheap?

November 10th, 2010

Yesterday I received a menu in the mail from a local Chinese restaurant. On the front of the tri-fold mailer is a  proud proclamation in large type: “$1.38 Chinese Food.”

Sure enough, all of the appetizers and most of the entrees listed inside are indeed only $1.38.

My first thought?

This stuff must really suck.

Seriously, if they’re charging less than a buck-and-a-half per item, they must be using the cheapest, lowest-quality ingredients possible. And that’s not what I want to eat.

Too often, business owners, professionals and salespeople feel they need to cut their prices to attract more customers. But that can actually work against you.

We’ve all learned from experience that as a general rule, you get what you pay for. Higher-quality goods and services tend to be more expensive, lower-quality ones tend to be cheaper.

Which means if you’re the cheapest option around, people will perceive you to be the worst. Is that the positioning in the marketplace you really want?

People don’t want cheap, they want good. If you’re good, say so. Make the relationship between your quality and your price clear. Point out what makes you better than your competitors and how that’s better for your prospect.

If you want to boost your sales, don’t make your product or service cheaper. Make it more appetizing.

The Critical Difference Between Features and Benefits

November 4th, 2010

If you’re in sales (and you probably wouldn’t be reading this if you weren’t) you’ve been exhorted at one point or another to “sell features and benefits.” But what do these terms actually mean? What’s the difference between the two?

Listen to my appearance on Breakthrough Business Strategies Radio with Michele Price as I clarify this crucial distinction. In just seven minutes, you’ll gain a better understanding of these two concepts than most sales and marketing professionals have.

To listen, just click on the link below. Or to download the segment to listen later, right-click the link and select “Save Target As…”

The Critical Difference Between Features and Benefits, Don Cooper on Breakthrough Business Strategies Radio (mp3)

To learn more about Michele Price and listen to her interview other business experts (which I wholeheartedly recommend), check out her web site: www.WhoIsMichelePrice.com.

How to Handle Customer Complaints

October 28th, 2010

Listen to my latest interview with Jim Blasingame on The Small Business Advocate® Radio Show. The 15-minute interview is broken into two segments. If you’re a CEO, manager, professional or front-line customer service representative, you’ll discover how to turn a customer complaint into more sales and higher profits!

14 Things Your Prospect Doesn’t Care About

October 21st, 2010

Too many salespeople, professionals and business owners are way too in love with themselves and their products and services. As a result, they spend far too much time throughout the sales process talking about things the prospect doesn’t remotely care about.

It wastes your time and theirs, leaving everyone annoyed, frustrated and cursing each other under their breath.

The simple fact is, your prospect doesn’t care about:
    1. Your product
    2. Your service
    3. Your processes
    4. Your research
    5. Your people
    6. The history of your company
    7. The size of your company
    8. Your mission statement
    9. Your marketing materials
    10. Your awards
    11. Your quota
    12. Your commission
    13. Your profit margin
    14. You

What do prospects care about?
    1. Themselves
    2. Their family
    3. Their friends
    4. Their pets
    5. Their company
    6. Their job
    7. Their causes

Get it?

Good.

If you want to increase your sales, stop focusing on the things prospects don’t care about and start focusing on the things they do care about. Everybody will be a lot happier.

Marketing and Prospecting with LinkedIn Groups

October 13th, 2010

LinkedIn is one of the most powerful marketing and prospecting tools ever created. It’s ideal for salespeople, professionals and business owners of all types. But do you know how to leverage it?

Listen to my appearance on the Rock the World with LinkedIn radio show with Mike O’Neil and Lori Ruff as I discuss ways to use LinkedIn to boost your sales. In this half-hour segment, you’ll discover which groups you should join and why, how to increase your visibility, three ways to leverage your blog on the site and more!

To listen, just click on the link below. Or to download the segment to listen later, right-click the link and select “Save Target As…”

Marketing and Prospecting with LinkedIn Groups, Don Cooper on the Rock the World with LinkedIn radio show (mp3)

Start using LinkedIn to enhance your prospecting and marketing efforts!

To learn more about Mike O’Neil and Lori Ruff—two of the world’s leading experts on LinkedIn—and how they can help you make the most of your social media efforts, visit www.integratedalliances.com. Or click on their names to view their LinkedIn profiles.

And be sure to check out my review of their book, Rock the World with Your Online Presence. It’s a must-read for anyone who wants to use LinkedIn like a pro.

Seven Ways to Overcome the Fear of Rejection

October 5th, 2010

If you want more appointments, sales and referrals, you need to ask for them. But the fear of rejection often prevents us from doing so. Well, stop letting the fear of rejection hold you back!

Listen to my appearance on Breakthrough Business Strategies Radio with Michele Price as I share tips and tactics that will help you overcome this daunting fear. In just 15 minutes, you’ll discover seven practical ideas you can implement immediately.

To listen, just click on the link below. Or to download the segment to listen later, right-click the link and select “Save Target As…”

Seven Ways to Overcome the Fear of Rejection, Don Cooper on Breakthrough Business Strategies Radio (mp3)

Conquer your fear and take your sales to new heights!

To learn more about Michele Price and listen to her interview other business experts (which I absolutely recommend), check out her web site: www.WhoIsMichelePrice.com.

The Myth of Non-Verbal Communication

September 22nd, 2010

It happened again yesterday. I heard somebody proclaiming that words only account for 7% of communication, while vocal tone contributes 38% and body language makes up a whopping 55%. These figures are startling, surprising, eye-popping.

They’re also wrong.

The “7-38-55” Rule is an oft-repeated misinterpretation of the work of Dr. Albert Mehrabian of the University of California, Los Angeles. It has been erroneously repeated by so many supposed “experts” over the last four decades that it has achieved the status of myth.

It’s the kind of myth I’m on a mission to dispel. (Hey, that’s what a heretic does.) Here are the facts.

Dr. Mehrabian’s research involved situations in which the meaning of a single spoken word was ambiguous (e.g. “maybe,” “dear”) or situations in which the words spoken were not in congruence with the tone and/or facial expressions of the speaker.

Dr. Albert Mehrabian

Dr. Albert Mehrabian

For example, the meaning of the word “maybe” changes considerably depending on whether a positive, negative or neutral tone is used. And a person declaring “I’m fine!” with a scowling face and crossed arms is clearly sending two conflicting messages, the non-verbal one carrying more weight.

The “7-38-55” Rule is actually Dr. Mehrabian’s calculation of how words, vocal tone and facial expressions influence one person to like or dislike another. It was never intended to be a blanket statement about communication in general.

On his website (www.kaaj.com/psych), here’s what Dr. Mehrabian himself says about his famous formula (emphasis mine):

“Total Liking = 7% Verbal Liking + 38% Vocal Liking + 55% Facial Liking. Please note that this and other equations regarding relative importance of verbal and nonverbal messages were derived from experiments dealing with communications of feelings and attitudes (i.e., like–dislike). Unless a communicator is talking about their feelings or attitudes, these equations are not applicable.”

Even in that limited context, the “7-38-55” Rule is suspect. Dr. Mehrabian derived the formula by combining the results of two different studies—studies which other scholars argue can’t legitimately be combined.

So what does this mean to you, the salesperson, manager, business owner or CEO? For one thing, it means your words do matter. Sure, your non-verbals matter too, but primarily when they’re in conflict with your actual words or when your words themselves are ambiguous.

If you want to ensure your message is understood clearly, invest the time in choosing the right words and then make certain your tone and body language are in congruence with what you’re trying to communicate.

Also, be suspicious whenever you hear some speaker, trainer or consultant spout “information” that seems outrageous or bizarre. Ask them where the data came from. A true expert will be able to cite their source.

And the next time somebody quotes you the “7-38-55” Rule, ask them if they’ve ever actually read any of Dr. Mehrabian’s work. Or simply enlighten them with the facts. That way, there will be one less myth-spreader in the world.

Defy Gravity and Boost Your Sales

September 17th, 2010

“New market opportunities are popping up all around us. Yet, thanks to our tunnel vision, we can’t see them. Many call it being focused. I call it gravity. Gravity is created when we hang onto our knowns, our status quo beliefs about our business, our value and our markets, long past their prime. As our markets change, we get stuck in their past—creating gravity that limits our forward momentum.”

So asserts Rebel Brown, a business strategy, launch & turnaround expert in her brilliant new book, Defy Gravity.

Rebel compares business success with flying, identifying the four major conflicting forces of flight—lift, thrust, weight and drag—and defining their business equivalents:
Business Drag: The mistaken ideas we hold about our products, employees and practices
Market Weight: The inaccurate things we believe about the markets we serve
Business Thrust: Our value and differentiation
Market Lift: New opportunities for revenue, profits and growth

If you want your business to succeed, you need to increase your lift and thrust, while reducing your weight and drag. The problems is that most businesses either don’t have a plan to deal with all four elements, or if they do, the plan is more of a hindrance than a help. Why? Because today’s frenetic pace of change renders even the best-conceived plans obsolete quickly.

To prevent failure, Rebel argues we need to change our plans as conditions change.

“We wouldn’t fly a plane straight into a thunderstorm because the flight plan said we should. We’d change our course. If the tailwinds were better a bit higher and twelve miles to the south, we’d adjust our heading and climb to find them. So why do we stick to our behind-the-times plans and focus, especially when dynamic changes would give us a much better chance for success?”

The answer to this question comprises the first seven chapters of the book, in which Rebel details causes and examples of business drag and market weight in chapters such as It’s Our Best and Biggest Seller, But It’s a Huge Opportunity!, Our Key Employees Are the Reason We’re Here, and But the Other Guys Have It!

Rebel explodes many of the most common business myths and misconceptions (what she terms “Corporate Legends”) that hold companies back, often dooming them to failure. She encourages us to question everything: our beliefs, our approaches, our logic, our data, even our past successes.

“Recognizing that what we knew yesterday probably doesn’t apply today is critical to reaching sustainable growth. We can’t approach strategic planning with our knowns and be successful. We have to test everything we know in the winds of the marketplace.”

The second half of the book explores how you can increase your thrust and lift by improving your value and seizing the appropriate market opportunities.

“When our value is compelling, we take off and climb higher. When we listen to how our customers perceive our value and focus on evolving that value in line with their needs (and those of our prospects), we create continuous business thrust.

Lift can be found in current or new markets. A key to maintaining or increasing our business velocity is to proactively seek out new lift— adjusting our course to soar higher and higher thanks to the  updraft of expanding markets.”

To help you improve your lift and thrust, Rebel covers:
• How to identify what your company’s true value is
• The critical difference between “Big Bang” change and evolutionary change
• How to effectively evaluate and prioritize opportunities
• When to get in and when to get out of a market
• How to monitor and manage your growth
• And much more.

Accompanying Rebel’s insights are numerous stories and case studies, many written with an insider’s knowledge, because she was called in to launch a new company or to save a floundering one. The result is an entertaining, eye-opening read, packed with practical advice for growing your business.

Defy Gravity is not just one of the best business books I’ve read this year—it’s one of the best business books I’ve ever read. It serves as a much-needed slap in the face for both corporate executives and small business owners alike. You’re likely to squirm while reading it. Yet it’s also a valuable blueprint for business success. Or as Rebel calls it, a flight plan.

How to Reach Your 2010 Sales Goals

September 9th, 2010

The year is two-thirds over, but there’s still time make sure you reach your sales goals for 2010.

Listen to my appearance on Breakthrough Business Radio with Michele Price as I share tips and tactics you can use immediately. In just 15 minutes, you’ll discover:

    • The first thing you must do in order to reach your sales goals
    • How to free up more time to sell
    • Where to find your easiest and fastest sales
    • 3 ways to reestablish contact with prospects you’ve lost touch with
    • How to get the biggest return from your prospecting efforts
    • And more!

To listen, just click on the link below. Or to download the segment to listen later, right-click the link and select “Save Target As…”

How to Reach Your 2010 Sales Goals, Don Cooper on Breakthrough Business Radio (mp3)

Get ready to make the most of the next four months!

To learn more about Michele Price and listen to her interview other business strategists (which I highly recommend), check out her web site: www.WhoIsMichelePrice.com.

Your Best Prospects

September 2nd, 2010

When I coach salespeople, consult with companies and speak at conferences, I’ll often ask, “Who is your market?”

Nine times out of ten, the answer I get back is “Everyone.”

Wrong answer!

No company can market effectively to everybody. And no salesperson can be efficient or effective looking for prospects everywhere.

Which means, if you want to boost your sales, you need to focus your marketing and prospecting efforts where they’ll provide you the biggest returns.

No matter how wonderful your product or service is, some people will want it more than others. No matter what you do and how you do it, some people will appreciate and value it more than others. That’s who you want to target: the people most likely to buy from you.

So, whether you’re selling to consumers, businesses or governments, define your best prospects. What do they look like? What characteristics do they share?

For instance, if your product or service is aimed at consumers, here are some demographic criteria you could use to define your target market:
    • Age
    • Sex
    • Race/ethnicity
    • Religion
    • Sexual orientation
    • Height and weight
    • Education level
    • Marital/family status
    • Family size
    • Age of children
    • Hobbies/interests
    • Recreational activities
    • Job status
    • Profession
    • Household income
    • Geographic area
    • Urban/suburban/rural resident
    • Homeowner or renter
    • Housing type (detached house, town home, condo, mobile home, etc.)
    • Disabilities 
    • Pet ownership

Some of these criteria can be further subcategorized. For instance, pet owners can be subdivided by number of pets or type of pet owned: dogs, cats, fish, birds, etc.

If you’re marketing to businesses, consider these demographic criteria:
    • Industry or profession
    • Geographic area
    • Age of business
    • Business’ target market
    • Job title
    • Workforce size
    • Annual revenue
    • Number of locations
    • Franchise or independent
    • Business type (manufacturing, distribution, retail, service, restaurant, etc.)

The more specifically you can define your target prospect, the more effectively you can reach them, so use as many demographic characteristics as you can.

For example, your target prospects might be overweight, single women under the age of 40 living in the Seattle metropolitan area. Or your target prospects might be male retirees living in the southwestern United States with incomes between $100,000 and $500,000. Or they might be French businesses with annual revenues under €1 million which have been in business less than two years. Or they could be female medical malpractice attorneys throughout the country.

This is not to say that these are the only people you will sell to. You may well have customers outside your target market. You may have two, or even three, distinct target markets, each with its own unique characteristics. But the more narrowly you can define your market, the more effectively you can craft a marketing message that resonates with them and the more cost-effectively you can present that message to them.

Remember too, that repetition is crucial to sales success. You have to get your message in front of your prospect numerous times before they buy from you. Which means you’ll get far better results marketing to 1,000 targeted people ten times than marketing to 10,000 random people once. If you’re a salesperson, it’s also much easier to follow up with 1,000 people than 10,000.

Whether you’re a CEO, sales manager, professional or salesperson, you only have so much time and money. You can’t afford to waste them chasing after everybody. Instead, define and pursue your best prospects: the ones who need or want you most. It’s a sure-fire way to increase your sales quickly and profitably.

The Myth of Price: Radio Interview

August 25th, 2010

Listen as Michele Price interviews me on Breakthrough Business Radio.  Michele and I discuss how important price really is to your prospects, what to do when prospects ask for a discount and how to charge more than your competition.

To listen, just click on the link below. Or to download the interview to listen later, right-click the link and select “Save Target As…”

Whenever you listen, make sure you have a pen and paper ready, because you’ll want to take notes!

The Myth of Price, Interview with Michele Price on Breakthrough Business Radio (mp3)

To learn more about Michele and listen to her interview other business strategists (which I strongly recommend), check out her web site: www.whoismicheleprice.com.

The Most Important Word in Sales and Marketing

August 12th, 2010

Do you know what it is? It’s a common word you use every day, probably without giving it much thought. But when you’re marketing, networking or selling, it’s the most powerful word you can use.

No, it’s not “free.” (Although that runs a close second.) It isn’t “results” or “save.” It’s not “quality,” “benefits” or “guaranteed,” valuable words all. 

No, the single most important sales and marketing word in the English language is “you.”

Think about it. Aren’t you your favorite subject? Aren’t you the most important person to you? And don’t you buy things you want and need for your reasons, when and how you choose to buy them? Well, your prospects and customers think exactly the same way.

Which means, if you want to increase your sales, you need to start using the word “you” more. Here’s how to use this most valuable word to enrich your business communication.

Marketing
When you create marketing materials (brochures, flyers, direct mail letters, web sites, etc.) focus on the needs of your prospects. Don’t dwell on the history of your company, the process your product undergoes or your commitment to excellence. None of that means anything to your potential customers. They don’t know anything about your industry and frankly, they don’t care.

To be effective, your marketing materials need to identify their problems and show how you can solve them. Your materials should speak directly to your prospects and use their language. The more often the words “you” and “your” appear in your marketing messages, the stronger your response will be.

Shoot for a 2-1 ratio of second-person pronouns (you, your) to first-person pronouns (I, me, my, we, us, our) in your copy. 3-1 or even 4-1 is better still.

Networking
The goal of networking is simply to meet people and get to know them. So when talking to someone in a networking situation, whether at a business mixer, a trade show or a cocktail party, keep the conversation focused on the other person.

Ask questions like:
    • “What do you do?” 
    • “How do you do that?”
    • “What’s your biggest accomplishment so far?”
    • “What’s your biggest challenge?
    • “What brings you here?”
    • “Tell me about yourself?”
    • “What do you read to keep up?”
    • “How did you get started?
    • “Where else do you go to network?”

Notice there’s a “you” in every question. When you ask questions like these, not only do you get valuable information, it makes the other person feel important, appreciated and understood, which builds rapport and trust.

Selling
We’ve all been taught to sell features and benefits. The trouble is, people don’t buy based on features and benefits. People buy what best fits their wants and needs. 

Which means you need to ask your prospect what their wants and needs are. You also need to ask about their concerns, fears, hopes, past experiences, priorities, budget, time frame, preferences, alternatives and more. That way, you can focus your sales presentation not on your product or service, but on your prospect.

Rather than drone on and on about your product or service, explain how it addresses their specific problems, criteria and desired results, using “you” and “your” frequently. If it doesn’t relate to your prospect’s issues, don’t discuss it. (You’ll save time and ensure you keep their attention.)

When you make your sales presentations prospect-focused instead of product-focused, they will resonate better with your prospects and your sales will jump as a result.

Intensive Listening

July 29th, 2010

When we have something important to say, we not only feel a need to express it, we feel fear that we won’t get the chance, because so often we are interrupted, drowned out or brushed off.

A tactic I call “Intensive Listening” alleviates that fear for the person with whom you’re talking.

Intensive Listening goes beyond Active Listening in that it ignores the standard rules of conversation: you talk, then the other person talks, then you, then the other person, and so on.  When you are engaged in Intensive Listening, only the other person talks. You just listen.

Don’t interrupt.  Don’t argue.  Don’t judge.

Keep steady eye contact and use plenty of non-verbal cues (head-nodding, smiling, frowning, raising eyebrows). You can throw in an occasional verbal cue (“Mm-hmm.” “Right.”  “You’re kidding.” “Really?” “I don’t blame you.” “That’s awful.”), but otherwise, say nothing, even when the other person appears to finish talking.

Most of us feel compelled to fill any conversational gap immediately because we’re uncomfortable with silence. But that silence gives the other person a chance to think, to reflect, to uncover buried concerns and feelings before continuing on.

And when your counterpart does not have to fear losing the floor, they can relax and feel more comfortable, both with you and the issues being discussed. And perhaps most importantly, they perceive that you really care and you truly understand them.

What you are doing is giving them the gift of undivided attention, a thing so rare, we forget what it feels like. In return, the other person will give you several gifts: their respect, their trust and the information you need to best help them. (Although sometimes, the best way to help them is just to listen.)

Intensive Listening is not always appropriate. As its name suggests, it is best reserved for situations in which there are intense emotions, or there is a need for deep, detailed information. 

Intensive Listening is especially useful when dealing with extremely angry customers, when there is little or no trust or when someone has experienced a loss, such as a divorce, a layoff or the death of a loved one. Also, note that this approach works best face-to-face, although it can be applied over the phone.

Try Intensive Listening the next time you sense a need for deeper communication. You’ll be amazed at how beneficial it is for both you and your counterpart.

Great Thoughts on Sales, Business and Success IV

July 23rd, 2010

Great quotations can make you think, laugh or persevere. Sometimes all three at once. Here are some more of my favorites:

“No computer network with pretty graphics can ever replace the salespeople that make our society work.” —Clifford Stoll

“Any business arrangement that is not profitable to the other person will in the end prove unprofitable for you. The bargain that yields mutual satisfaction is the only one that is apt to be repeated.” —B.C. Forbes

“Success is a state of mind. If you want success, start thinking of yourself as a success.” —Joyce Brothers

“Do all the good you can, by all the means you can, in all the ways you can, in all the places you can, at all the times you can, to all the people you can, as long as ever you can.” —John Wesley

“I respect faith, but doubt is what gets you an education.” —Wilson Mizner

“Never dull your shine for somebody else.” —Tyra Banks

“Defeat is nothing but the first step to something better.” —Wendell Phillips

“A little knowledge that acts is worth infinitely more than much knowledge that is idle.” —Kahlil Gibran

“If you aren’t making any mistakes, it’s a sure sign you’re playing it too safe.”   —John Maxwell

“Yes, I sell people things they don’t need. I can’t, however, sell them something they don’t want.” —John O’Toole

“Experience shows that success is due less to ability that to zeal. The winner is he who gives himself to his work, body and soul.” —Charles Buxton

“I can’t believe that God put us on this earth to be ordinary.” —Lou Holtz

“The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those which fail.” —Napoleon Hill

“Fortune favors the brave.” —Publius Terence

“Never again clutter your days or nights with so many menial and unimportant things that you have no time to accept a real challenge when it comes along. This applies to play as well as work. A day merely survived is no cause for celebration. You are not here to fritter away your precious hours when you have the ability to accomplish so much by making a slight change in your routine. No more busy work. No more hiding from success. Leave time, leave space, to grow. Now. Now! Not tomorrow!” —Og Mandino

“Growth demands a temporary surrender of security.” —Gail Sheehy

“An idea that is not dangerous is unworthy of being called an idea at all.”         —Oscar Wilde

“Men are born to succeed, not fail.” —Henry David Thoreau

“Some regard private enterprise as if it were a predatory tiger to be shot. Others look upon it as a cow that they can milk. Only a handful see it for what it really is: the strong horse that pulls the whole cart.” —Winston Churchill

“Fear is inevitable, I have to accept that, but I cannot allow it to paralyze me.”   —Isabel Allende

“We want consumers to say, ‘That’s a hell of a product’ instead of, ‘That’s a hell of an ad.’” —Leo Burnett

“Thinking is the hardest work there is. That’s probably why so few people do it.” —Henry Ford

For more of my favorite quotations, check out Great Thoughts on Sales, Business and Success; More Great Thoughts on Sales, Business and Success; and Still More Great Thoughts on Sales, Business and Success.

By the way, what are some of your favorite quotations?

The Retail Doctor’s Guide to Growing Your Business: Book Review

July 15th, 2010

The last couple of years have been grim for retailers. The still-vacant shopping malls that dot the landscape like 21st century ghost towns bear silent testimony to the difficulties of trying to keep a retail operation going during a recession. Those retailers that haven’t yet succumbed to the precipitous drop in consumer spending are working harder than ever just to survive.

Fortunately, a new book will help retailers keep their doors open. (And no, smarty pants, I don’t mean by using it as a doorstop.) The Retail Doctor’s Guide to Growing Your Business (Wiley, $19.95) by Bob Phibbs presents loads of practical, real-world advice that any retailer can put to use immediately.

What distinguishes this book is that Phibbs doesn’t just cover the topics you’d expect, like merchandising, signage and sales skills. He also touches on less obvious, but equally critical areas of running a successful retail business.

Phibbs devotes an entire chapter to hiring the right people, with savvy insights and clever ideas. (Wait ‘til you read how you can use the weather to help you make better hiring decisions!) Another chapter focuses on building and coaching your team, a topic most retail owners and managers don’t get anywhere near enough education about.

While I would have liked to have seen more material on marketing in this book, Phibbs does provide a good overview of how to use social media and other web strategies to attract and retain customers. It’s devoid of computer jargon, so even a devout technophobe can understand it and see the benefits of embracing web marketing.

My favorite part of the book, though, was a relative blip: Phibbs spends two pages discussing pricing philosophies and strategies. Those two pages alone are worth the price of the book a hundred times over. If you do nothing but digest what Phibbs says about pricing (it’s similar to what I share in my program, The Myth of Price), you will make your retail operation instantly more profitable.

If you’re in retail, whether you’re an owner or a manager, whether you’re responsible for a single outlet or an entire chain, you need to read this book. The economy may get better or it may get worse, but either way, you can survive—and even grow—if you put these ideas to work.

Six Things Manufacturers and Franchisors Can Do to Boost Sales

July 8th, 2010

I regularly talk with executives in a number of different industries, and while I’ve heard a variety of reports about sales trends so far this year, one consistency is this: Virtually everyone I’ve talked to recently has said they’re hoping things will get better.

Well, I’ve got news for you:

Hope is not a strategy.

Successful companies don’t sit around waiting for circumstances to improve. They take action to create improvements.

So what are you doing to make things better? Because whatever the state of the economy, you as a manufacturer or franchisor have enormous potential to impact the sales of your retail or franchise network, which of course spurs your own sales.

Here are six specific strategies you can implement immediately to help your sales channel sell more of your products and services.

1. Increase Your Corporate Marketing Efforts
Whenever things get tough and companies are looking to slash costs, one of the first line items they cut is the marketing budget. Which is one of the dumbest things they can do.

Because effective marketing generates sales. Conversely, when you reduce your marketing efforts, your sales drop.

Marketing is an investment, not an expense. For every dollar you invest in marketing, you should see a return of two, five, ten (or more) dollars in sales.

If your marketing isn’t providing a substantial return, it doesn’t mean marketing doesn’t work—it means your marketing doesn’t work. Either your message is wrong or your tactics are wrong. Possibly both. Don’t cut it—fix it!

Study after study has proven companies that maintain or increase their marketing budgets during recessions see higher sales both during and after the recessionary period. Where do their increased sales come from in a shrinking market? From their competitors, who cut back on their marketing!

2. Launch a Publicity Campaign
Publicity has two distinct advantages as a sales and marketing tool:
    1) It’s free.
    2) It carries more credibility than an advertisement.

While you can’t say the same things in a press release that you can in a sales letter or commercial, you can use publicity to increase your company’s name recognition and create awareness of your products and services.

The key is to recognize that the media needs you. An editor’s job is to fill space. A radio or TV producer’s job is to fill airtime. Both are looking for entertaining stories or useful information that will make people want to watch, listen or read what they produce.

That’s where you come in. You can create press releases about anything as long as it’s of potential interest to that media outlet’s audience.

So what’s your story? What information do you have that would be of interest to potential buyers? What have you, your retailers or your franchisees done recently that people should know about? What tips can you share that could improve people’s lives? What newsworthy ways have your customers used your products or services?

Whatever the answer, that’s your press release. Write it down and e-mail it to every media outlet that might possibly be interested in your story. Don’t restrict yourself to industry-related publications. Since there’s no cost, you may as well include non-industry media to reach the widest possible audience.

And make it easy for your retailers or franchisees to do the same. Provide them with copies of your press releases for them to send to their local media outlets. Send them templates they can use for a variety of occasions. And encourage them to send you their stories.

Once you’ve begun, keep your publicity generator running! Don’t plan one publicity campaign and expect to ride that wave forever. Make a publicity calendar and plan something every quarter, or more often if you can manage it.

3. Optimize Your Web Site
When someone does a search for the type of product or service you provide, how high up in the results does your corporate web site appear? Do you know the terms people use to search for the types of products and services you make, and are those terms integrated well into your site? Are you making the best use of pay-per-click ads? When prospects visit your site, what percentage of them actually contact you or one of your channel partners, and how many leave your site never to return again?

If you don’t know the answers to these questions, you’re missing out on sales. And if you do know the answers but you’re not happy with them, you’re not any better off.

Optimizing your web site so it’s easily found by potential prospects and then converts those prospects into actual leads is tricky business. Do it right and you’ll have a never-ending supply of qualified prospects for your retailers or franchisees to talk with. Do it wrong and not only will you not get those prospects, you’ll waste huge sums of money in the process.

To complicate matters, the field of search engine optimization (or SEO) is constantly changing. Which means you don’t want to trust your site optimization to your web designer, in-house IT person or web hosting company. Hire a person or a company with proven SEO expertise and success.

4. Increase Co-op Funds
Just as it’s critical for you to bolster your corporate marketing, it’s critical for your retailers or franchisees to bolster their marketing. Unfortunately, like most businesses, independent retailers and franchise owners eviscerate their marketing budgets whenever things get tight.

To counter this knee-jerk reaction, encourage the marketing efforts of your retailers or franchisees by increasing the available co-op budget. Co-op funds are an investment in your sales channel’s success as well as your own.

5. Educate Your Channel Partners About Co-op
No matter what your co-op budget is, odds are most of your channel partners aren’t using all of it anyway. That’s because most independent retail and franchise owners know nothing about marketing.

So teach them.

Have your marketing director conduct a seminar, teleseminar or webinar for your channel partners. Buy a copy of Guerrilla Marketing (by Jay Conrad Levinson) for each of your retail or franchise owners and send it to them with a note promising additional co-op dollars when they send you an action plan based on what they read. Direct your district reps or regional managers to help your retailers or franchisees devise actual marketing plans and campaigns. Create a space on your internal web site where owners or managers can share their best marketing tactics and offer prizes for the best ideas.

6. Train Your Sales Channel’s Salespeople
More often than not, the sale doesn’t go to the business with the best product or the best service (or even the lowest price), but to the business with the best salespeople. If you want your retailers or franchisees to sell more, doesn’t it make sense to train them how to sell better?

Training has been proven to provide the best ROI of any sales investment. In fact, a 2000 study of 575 U.S.-based, publicly traded companies by Laurie Bassi, Jens Ludwig, Daniel McMurrer and Mark Van Buren found that companies that spent more on training (per employee) experienced a total shareholder return (change in stock price and dividends issued) in the following year 86% higher than companies that spent less, and 45% higher than the market average. Further, companies in the top quarter of the study group enjoyed an average of 26% higher price-to-book ratios, 24% higher profit margins and 218% higher income per employee than companies in the bottom quarter.

Findings like these make perfect sense when you think about it. Salespeople who get regular training are more adept at finding quality prospects, delivering effective presentations, holding their margins and closing deals.

(And such improvements can be immediate. I’ve had attendees of my seminars report back to me that they used what they learned the very same day to close sales.)

One Thing NOT to Do
You’ll notice there’s one strategy I didn’t include in the above recommendations: Slashing your prices. This is typically the first action companies take in tough times. However, it’s typically the worst thing a company can do.

Dramatically cutting prices rarely increases sales volume significantly, and even when it does, total profits still go down because every dollar shaved off the price was profit. Which means you’re worse off than if you hadn’t cut prices in the first place.

Worse still, dropping your prices sends a message to the marketplace that your product or service wasn’t worth what you were asking in the first place. That damages the perceived value of your offerings—damage that can take years to undo.

Instead of slashing your prices, take the money you would have given away in discounts and rebates, and invest it in marketing and training instead. You and your retailers or franchisees will see better results faster and it will set you up for increased sales down the road as well as right now.

You can’t control what the economy does. But you can control what your company does. Don’t just hope things get better. Employ these six strategies and make things better.