Although the title of the blog might seem like a trick question (two of my favorite blog topics if you are a regular reader) it is inspired by some VERY interesting results recently published from a 2012 survey of Mid-Market companies ($250M to $1B) by Forbes Insights. You can download a copy of the entire report at this Forbes Insight link. The study revealed an upbeat business environment where three out of five executives interviewed stated their firms had grown over the past two years. Almost 72% believe their firms will continue to grow in the future contrary to some of the “doom and gloom” reports being circulated during an election year.
The continued growth the survey predicted is being driven by three strategic priorities that emerged as clear winners in the study in terms of relative importance. Number one was “improving the customer experience” at a whopping 60% (up from 55% in the past 5 years) followed by “optimizing sales force effectiveness” at 47% (up from 45% in the previous 5 years) and “building and retaining a qualified work force” at 46% (down from 49% over the past 5 years). It would appear from the Forbes Insights results that Mid-Market companies are not only recognizing that improving the customer experience is critical to their current growth but also one of the most powerful strategic initiatives that they will focus on over the next 5 years as well.
The Forbes Insight survey also asked the question “What external forces are the likely biggest game changers for your company?” The study revealed the top three answers as the combination of “increased foreign and domestic competition” at 46%, “pricing pressures” at 41% and “decreased customer budgets/ spending” at 36%. While focusing on “great service” may have been the number one strategic initiative a “great sales team” will certainly have their hands full with the top ranked external forces. In last week’s blog, “Is Your Sales Team Communicating Value or Creating It?” the recipe outlined is clearly in sync with overcoming the top “game changing” factors in the survey. The best customer experience in the world is meaningless without a customer but without the commitment to provide the best customer experience your competition will eat you alive. The answer to the title question is undoubtably “no, they are both equally important.”
Chuck Terry is the Executive Vice President and CSO of Carew International and is regular contributor to Carew’s blog – Executive Insights
Carew International is a leader in sales training and leadership development; specializing in comprehensive, proven training programs for sales, sales management and customer service excellence. For over 30 years, Carew has earned its reputation of delivering increased productivity and profitability to our valued clients world wide.
Like this:
One blogger likes this post.
April 25, 2012
Short URL Sales, Sales Skills, Positional Selling, Sales Performance, Sales Training, Selling, Business, Business skills, Sales Prospecting, Sales Management, Customer Relationships, Business Growth, Customer Loyalty, Hiring For Sales, Leadership, Sales Leadership, Sales Force Management, Sales Team, Sales Professionals, Motivation, Effective Presentations, Overcoming Objections, selling skills, sales development, sales effectiveness, improved sales, poor sales, sales advice, sales mentor, close more sales, sales success, sales ideas, better selling, customer service training, better sales, sales help, professional sales training, sales management training, professional training, leadership ideas, sales tips, creating value with sales professional, creating value, value based selling, value creation selling, creating value with customers Building Company Morale, building sales force morale, Business, Business Presentations, Creating Value through the sales team, customers, Effective Presentations, positive energy, Sales, Sales and Leadership Insights, sales growth, Sales Management, Sales Presentations
The other night I was watching TV with my family when one of my boys asked me a homework question I couldn’t answer. We all thought it was pretty cool when SIRI, the voice activated assistant on the IPhone 4S, was able to successfully provide the answer. It was only a few minutes later when an ad for a new Samsung TV came on. The new TV featured the ability to recognize voice commands being given by a young boy in the commercial. Suddenly a strange thought hit me; we are becoming a society that increasingly talks to our machines but not to each other.
It seems almost daily that I talk to a sales manager who laments that it is getting harder to get sales people to pick up the phone. Companies with an 80/20 ratio of e-mail or text to in person or on the phone communication are not uncommon. What is driving that?
In all fairness I think our customers are driving a great deal of it. E-mail is a medium of communication where busy executives and professionals can communicate at their convenience and not the convenience of others. It is much more efficient to get things done by e-mail and the added benefit is busy professionals have a paper trail that is easily added to the CRM system.
I would propose that we still use the convenience of e-mail but use it as a method to schedule calls at mutually convenient times versus using e-mail as a SUBSTITUTE for in-person contact. Step away from the machine and pick up the phone. Better yet, get in a car and meet in person!
Chuck Terry is the Executive Vice President and CSO of Carew International and is regular contributor to Carew’s blog – Executive Insights
Carew International is a leader in sales training and leadership development; specializing in comprehensive, proven training programs for sales, sales management and customer service excellence. For over 30 years, Carew has earned its reputation of delivering increased productivity and profitability to our valued clients world wide.
Like this:
Be the first to like this post.
April 10, 2012
Short URL better sales, better selling, Business, Business Growth, Business skills, close more sales, Customer Loyalty, Customer Relationships, customer service training, Effective Presentations, Hiring For Sales, improved sales, Leadership, leadership ideas, Motivation, Overcoming Objections, poor sales, professional sales training, professional training, Sales, sales advice, Sales Assessments, sales development, sales effectiveness, Sales Force Management, sales help, sales ideas, Sales Leadership, Sales Leads, Sales Management, sales management training, sales mentor, Sales Performance, Sales Professionals, Sales Prospecting, Sales Skills, sales success, Sales Team, Sales Training, Selling, selling skills Building Company Morale, building sales force morale, Business, Business Presentations, customers, Effective Presentations, positive energy, Sales, Sales and Leadership Insights, sales growth, Sales Management, Sales Presentations, Uncategorized
One of my favorite movies featuring selling as a central theme is the Al Pacino film “Glenngary Glen Ross” based upon the David Mamet play of the same name. There is a well-known scene where Alec Baldwin’s sales manager character defines the “ABC’s of Selling” as “Always Be Closing.” I love the speech but the concept is flawed. Whether you’re selling real estate like the characters in the film or highly complex aircraft sealant, continually pressuring buyers to commit is a sales myth because it absolutely doesn’t work!
Today’s customer is not only more sophisticated in their ability to research buying options online but much less tolerant of high gimmick, high pressure tactics. The time to ask for the order is not “all the time” but rather at the “right time.” Lee Iacocca is commonly credited with the saying that “75% of people won’t buy unless asked and 50% of sellers don’t ask.” Without a doubt it is still critically important to ask for the business but not until you truly understand what the customer needs to buy.
If you are selling the previously referenced aircraft sealant you might be thinking “the customer needs sealant for the fuel carrying wings, I KNOW what they need to buy. I just need to convince them to buy it from me!” While it may be true that they are PURCHASING sealant they are actually BUYING increased safety, improved fuel economy, production savings, or any number of unique, application specific benefits that may be derived through the purchase of the sealant.
Consultative sellers leverage the knowledge that you can only understand the “needs behind the needs” through a disciplined exploratory process and that closing is a mere formality once you understand how your products or services create unique value to each individual customer.
The secret to sales success is not to buy into the sales myth that if you are always closing you will eventually wear the customer down and get the business. More than likely you will just irritate people and then lose the business to the consultative sales professional that only had to ask once at exactly the right time. The secret to sales success is to understand what your customer is really buying and here’s a hint; it ISNT what your selling!
Chuck Terry is the Executive Vice President and CSO of Carew International and is regular contributor to Carew’s blog – Executive Insights
Carew International is a leader in sales training and leadership development; specializing in comprehensive, proven training programs for sales, sales management and customer service excellence. For over 30 years, Carew has earned its reputation of delivering increased productivity and profitability to our valued clients world wide.
Like this:
Be the first to like this post.
April 2, 2012
Short URL better sales, better selling, Business, Business Growth, Business skills, close more sales, Customer Loyalty, Customer Relationships, customer service training, Effective Presentations, glengarry glen ross lessons, improved sales, Leadership, leadership ideas, Motivation, Overcoming Objections, poor sales, professional sales training, professional training, sales advice, sales analogy, sales development, sales effectiveness, Sales Force Management, sales help, sales ideas, Sales Leadership, Sales Management, sales management training, sales mentor, Sales Performance, Sales Presentations, Sales Professionals, Sales Skills, Sales story, sales success, Sales Team, sales tips, Sales Training, Selling, selling myths, selling skills Building Company Morale, building sales force morale, Business, Business Presentations, customers, Effective Presentations, positive energy, Sales, Sales and Leadership Insights, sales growth, Sales Management, Sales Presentations, Uncategorized
