CSO Insights (http://www.csoinsights.com) does extensive research into the topics of sales and marketing effectiveness. One of their white papers that I found very insightful was the following:
Proactive Sales Intelligence
CSO Insights 2007
Jim Dickie/Barry Trailer
Sales Intelligence or Sales Data. What positions your sales department better?
With permission from CSO Insights, listed below is a concise list authored by Jim Dickie & Barry Trailer on how the proper SI will help your company position yourself as a competent peer.
Do you know me?
Are you aware of how long I have been with the company?
If I am new, where did I come from?
What are my goals and objectives?
How am I measured and evaluated?
What specific projects am I working on and how can your product or service help me?
You have to know me well enough that your product will not only enhance the organization, but me personally.
Do we have a past?
Have I met with your firm before?
Do I have a favorable opinion of your firm and your offerings, or are there some fences that need to be mended?
Without this knowledge, reps can miss a chance to leverage a positive-or they could get blindsided by a negative
Do you know my internal Ecosystem?
How do I relate with other functional areas of my company? Are they involved in the buying process?
Do you know my company?
Realize that what I ultimately want has to align it with, and be supportive of, what our company
Do you know my marketplace?
Do you know who my customers are and how their world is changing?
Who are my partners?
When the economy shifts, is that a good or bad thing for me?
Is my marketplace poised for growth, stagnation, or decline?
If you take my marketplace into account, and then start prescribing solutions for me, you will find me much more interested in what you have to say.
Do you know my competitors?
Do you know where we fit into the exiting competitive landscape?
Are we the leader or just another player?
Are we in the position to play catch-up to survive?
How can you help me create differentiation?
Do you have any special value-add?
What else can you bring to the table?
Are their additional assets you can bring to bear to solve my problems, relationships, intellectual property, and internal business processes of knowledge?
Your desire to share all the appropriate resources your company can provide will go along way toward convincing me that you really want to partner with us.
Do you know why you are the best choice?
Can you educate me on how you are truly different from the other players in your solution space so I can support my recommendation tow work with you?
Help me help you…gets me invested in ensuring we can implement your solution to address my company’s needs
Do you know how I can justify the purchase?
After all the work we have done assessing my needs, crafting a solution, developing an action plan, agreeing on price, aligning resources, I still must build a strong business case to demonstrate a clear ROI.
How do I convince the Vice President of “NO” that this is a good investment for our company?
Do you know what is changing as we work together?
My world changes daily. Outside the company, our marketplace shifts, our competitive landscape changes, the number of alternatives for us to consider fluctuates-Are you up to speed with these changes?
Can you identify it and quickly determine how it impact how we work together?
Now if you are as up to date as I am on my world-or better yet, ahead of me-I will see you as a competent peer
Sunday, May 3, 2009
Friday, March 20, 2009
Advertisement Strategies on the Internet
Advertisement strategies on the Internet need to be well thought out before spending any money or time. The following list gives some insight on how to prepare your company to effectively advertise on the Internet with success.
1. Advertisements should be colorful to catch the reader's attention. Interactive and moving Web content is visually appealing and that is extremely important when catching a reader's eye.
2. Your content should provide some sort of value. If you don't then the potential for capturing the client is almost immediately lost.
3. Your company must emphasize who you are, what you do, and how you differ from the competition.
4. All activities should be part of the overall strategy of your company. Both online and offline.
5. Placement of the ad on your site is extremely important. Athenia Associates ran a survey and it demonstrated that ad's placed in the lower right hand corner of the screen generated a 228% higher click-through rate than at the top of the page. (http://webreference.com/dev/banners)
6. Don't give information overload. Irrelevant information can only produce frustration and that can lea to a potential customer leaving your site. Always think simple and effective when placing an ad on the Internet
Steven Hume
www.linkedin.com/in/stevenhume66
1. Advertisements should be colorful to catch the reader's attention. Interactive and moving Web content is visually appealing and that is extremely important when catching a reader's eye.
2. Your content should provide some sort of value. If you don't then the potential for capturing the client is almost immediately lost.
3. Your company must emphasize who you are, what you do, and how you differ from the competition.
4. All activities should be part of the overall strategy of your company. Both online and offline.
5. Placement of the ad on your site is extremely important. Athenia Associates ran a survey and it demonstrated that ad's placed in the lower right hand corner of the screen generated a 228% higher click-through rate than at the top of the page. (http://webreference.com/dev/banners)
6. Don't give information overload. Irrelevant information can only produce frustration and that can lea to a potential customer leaving your site. Always think simple and effective when placing an ad on the Internet
Steven Hume
www.linkedin.com/in/stevenhume66
Tuesday, February 24, 2009
Customer retention/The CRM process
In today's environment customer retention is key to survival. If a client has come to do business before chances are they will likely do business again. This differs by industry but once the money has been spent to generate customer inquiry's numerous companies don't do a good job on relationship marketing after the fact.
One company's salesperson I consulted with recently told me of his follow-up procedures;
"why should I call the client again when they already have our quote? If they want us to do the job they should call us, I shouldn't have to follow-up with them...besides that is a waste of my time"
After I picked myself up off the floor he got a quick lesson in CRM basics. I was amazed at his response. But sometimes this is the case. Why do the simple things that will help close a client or at least keep the door open?
According to "Internet Marketing" by Mary Lou Roberts " Successful CRM cannot exist outside the context of the business unit's overall marketing strategy".
The vision of each company should be to provide the customer with a complete satisfactory experience. It is goal #1. A happy client should produce at least three referrals in time.
CRM always means thinking ahead. What could the client use down the road that we can sell to them. If they just recently purchased golf clubs, then how about a emailed coupon a few days later offering a discount on a golf bag? It is the little things that make a huge difference to the bottom line.
Before a client even makes it to the store, the staff must have thought out different scenerio's that might happen and how they will approach the client.
The stakes are high in today's economy. Those companies that put a great deal of effort into customer retention are those companies that will be left standing on the other side.
Steven Hume
www.linkedin.com/in/stevenhume66
One company's salesperson I consulted with recently told me of his follow-up procedures;
"why should I call the client again when they already have our quote? If they want us to do the job they should call us, I shouldn't have to follow-up with them...besides that is a waste of my time"
After I picked myself up off the floor he got a quick lesson in CRM basics. I was amazed at his response. But sometimes this is the case. Why do the simple things that will help close a client or at least keep the door open?
According to "Internet Marketing" by Mary Lou Roberts " Successful CRM cannot exist outside the context of the business unit's overall marketing strategy".
The vision of each company should be to provide the customer with a complete satisfactory experience. It is goal #1. A happy client should produce at least three referrals in time.
CRM always means thinking ahead. What could the client use down the road that we can sell to them. If they just recently purchased golf clubs, then how about a emailed coupon a few days later offering a discount on a golf bag? It is the little things that make a huge difference to the bottom line.
Before a client even makes it to the store, the staff must have thought out different scenerio's that might happen and how they will approach the client.
The stakes are high in today's economy. Those companies that put a great deal of effort into customer retention are those companies that will be left standing on the other side.
Steven Hume
www.linkedin.com/in/stevenhume66
Thursday, February 19, 2009
Time Management for small business owners...
Over the years I have observed that those with a schedule seem to get the most done. As I have worked with small business owners time management seems to be a critical issue.
Time Management is such a important topic. Everyday I see SBO waste an incredible amount of time not being productive. The employees take their cue from the owner. I have seen many busy employers with busy staff's. But also when the owner leaves the intensity of the workers drops off dramatically. It is all about leadership.
As a business coach it becomes evident that people in general, unless trained, don't put a priority on time management or acquiring TM skills.
Owners must determine what is relevant verses what is a distraction in their daily endeavors. Many many hours are wasted on irrelevant issues as it relates to business matters. As I meet with clients we discuss where the majority of their time is spent. Always we carve out a couple hours a day that are wasted. Problem is that most owners spend over 50 hours a week running the company. But in reality if time management was at the forefront the hours would drop and the owner would become more productive.
We are all guilty of wasting time. It takes work and effort to corral your schedule and make it your own.
My suggestions are the night before you set up your next day. What are the things you need to get accomplished and by what time. If you get everything done on your list you have planned wrong. Stretch yourself to accomplish things that normally couldn't be done. Reward yourself accordingly when the task has been completed.
Conduct weekly meetings. Find a good book on time management and have the staff tell you how they will use each chapter as it relates to their own personal productivity. Then have them check in at every meeting. It shows concern for the employee that you care enough about them to lead them, but also gets back time lost that you as the owner are paying for without productivity.
Time management is all about productivity or lack thereof. Time is money. As a SBO you are either taking your time seriously or you are losing money and don't realize it.
Steven Hume
www.linkedin.com/in/stevenhume66
Time Management is such a important topic. Everyday I see SBO waste an incredible amount of time not being productive. The employees take their cue from the owner. I have seen many busy employers with busy staff's. But also when the owner leaves the intensity of the workers drops off dramatically. It is all about leadership.
As a business coach it becomes evident that people in general, unless trained, don't put a priority on time management or acquiring TM skills.
Owners must determine what is relevant verses what is a distraction in their daily endeavors. Many many hours are wasted on irrelevant issues as it relates to business matters. As I meet with clients we discuss where the majority of their time is spent. Always we carve out a couple hours a day that are wasted. Problem is that most owners spend over 50 hours a week running the company. But in reality if time management was at the forefront the hours would drop and the owner would become more productive.
We are all guilty of wasting time. It takes work and effort to corral your schedule and make it your own.
My suggestions are the night before you set up your next day. What are the things you need to get accomplished and by what time. If you get everything done on your list you have planned wrong. Stretch yourself to accomplish things that normally couldn't be done. Reward yourself accordingly when the task has been completed.
Conduct weekly meetings. Find a good book on time management and have the staff tell you how they will use each chapter as it relates to their own personal productivity. Then have them check in at every meeting. It shows concern for the employee that you care enough about them to lead them, but also gets back time lost that you as the owner are paying for without productivity.
Time management is all about productivity or lack thereof. Time is money. As a SBO you are either taking your time seriously or you are losing money and don't realize it.
Steven Hume
www.linkedin.com/in/stevenhume66
Tuesday, February 17, 2009
What your employee wants you to know......
Over the past few years I have met with numerous small business owners and the employees.
I have interviewed employees from across America. It is always eye opening to meet with the workforce.
Employees loved to be respected and listened to. This can encompass incentive plans to having a suggestion box to where the ideas can be heard and acknowledged.
On more than one occasion the employees have had great, workable ideas and the SBO has ignored them or not taken them seriously.
Recently one employer told us his employees were stupid and couldn't be trusted. He was right! Under his nose his secretary was stealing from him. All told we discovered she had embezzled over 25k over a 24 month period. When she was asked why, her response was simple. She felt entitled to the money. It was her way of getting even with her boss. She now gets free room and board!
Was there a way that this could have been avoided? Maybe. But if the boss hadn't been so harsh & demoralizing the outcome may have been different.
Employees are the bread and butter of any company. They can make or break the company.
Treat them well. Listen to the ideas they put forth. Always hire people better than your current staff. Challenge them to be better people. Conduct weekly meetings and assign a book to be read and then how they will apply that chapter to there job. The weekly meeting with assigned chapters from various books has done wonders for companies.
Another way to treat the employee well is to offer incentives, bonuses or some other form of reward. People like to make money. Not many people we know would work for free. Make sure the employee gets to reap the rewards of a job, or a month, or a quarter done well. It will provide long lasting dividends to the company in so many other ways.
If your company wants to prosper and have happy employees, take the extra step of kindness and take care of them.
Remember the old saying, "do unto others as you would have them do unto you".
Steven Hume
www.linkedin.com/in/stevenhume66
I have interviewed employees from across America. It is always eye opening to meet with the workforce.
Employees loved to be respected and listened to. This can encompass incentive plans to having a suggestion box to where the ideas can be heard and acknowledged.
On more than one occasion the employees have had great, workable ideas and the SBO has ignored them or not taken them seriously.
Recently one employer told us his employees were stupid and couldn't be trusted. He was right! Under his nose his secretary was stealing from him. All told we discovered she had embezzled over 25k over a 24 month period. When she was asked why, her response was simple. She felt entitled to the money. It was her way of getting even with her boss. She now gets free room and board!
Was there a way that this could have been avoided? Maybe. But if the boss hadn't been so harsh & demoralizing the outcome may have been different.
Employees are the bread and butter of any company. They can make or break the company.
Treat them well. Listen to the ideas they put forth. Always hire people better than your current staff. Challenge them to be better people. Conduct weekly meetings and assign a book to be read and then how they will apply that chapter to there job. The weekly meeting with assigned chapters from various books has done wonders for companies.
Another way to treat the employee well is to offer incentives, bonuses or some other form of reward. People like to make money. Not many people we know would work for free. Make sure the employee gets to reap the rewards of a job, or a month, or a quarter done well. It will provide long lasting dividends to the company in so many other ways.
If your company wants to prosper and have happy employees, take the extra step of kindness and take care of them.
Remember the old saying, "do unto others as you would have them do unto you".
Steven Hume
www.linkedin.com/in/stevenhume66
Small Business Survival.....
Topic: Database analysis.......
Everyone by now knows we are in tough times. Questions for small business owners (SBO):
How do you generate sustainable profits?
How do you survive?
Where do you look for help?
Answers....
Most SBO have a client list. It is a great time to examine your database with your staff and determine how to generate more revenue for your company. If someone has purchased something from your company in the past, and you have done a good job, chances are they will purchase from you again. (products or services)
Take a look at each client and what they have purchased. Is there anything else that you sell that they might be interested in? Do you have a monthly newletter with a coupon that you could utilize? How about a phone survey? A phone survey is a great way to build a relationship. You want to be the first person they think of when looking for a purchase. In today's day of technology the phone is a tool that is not utilized as often as it should be.......great way to build relationships, it shows thoughtfulness.
Let me back up a little....never underestimate your employees. They are a great source of referrals. They have great ideas, but probably need to feel that you will actually listen to them and maybe even reward them for a great idea.......don't be an island in this regard....the more different thoughts and ideas the better......
If someone has made a purchase and they are happy then referrals should flow. The issue is to not be pushy, but also to utilize your former clients and their circle of influence to generate more opportunities for sales.
Compare January of 2008 to January of 2009. What happened? How much did you sell of one product or service. What are the ways we can capitalize and generate more sales? Always be thinking of profitable avenues for your company.
Good book on this topic;
Data Driven by Thomas C. Redman
Harvard Press Review..
Steven Hume
www.linkedin.com/in/stevenhume66
Everyone by now knows we are in tough times. Questions for small business owners (SBO):
How do you generate sustainable profits?
How do you survive?
Where do you look for help?
Answers....
Most SBO have a client list. It is a great time to examine your database with your staff and determine how to generate more revenue for your company. If someone has purchased something from your company in the past, and you have done a good job, chances are they will purchase from you again. (products or services)
Take a look at each client and what they have purchased. Is there anything else that you sell that they might be interested in? Do you have a monthly newletter with a coupon that you could utilize? How about a phone survey? A phone survey is a great way to build a relationship. You want to be the first person they think of when looking for a purchase. In today's day of technology the phone is a tool that is not utilized as often as it should be.......great way to build relationships, it shows thoughtfulness.
Let me back up a little....never underestimate your employees. They are a great source of referrals. They have great ideas, but probably need to feel that you will actually listen to them and maybe even reward them for a great idea.......don't be an island in this regard....the more different thoughts and ideas the better......
If someone has made a purchase and they are happy then referrals should flow. The issue is to not be pushy, but also to utilize your former clients and their circle of influence to generate more opportunities for sales.
Compare January of 2008 to January of 2009. What happened? How much did you sell of one product or service. What are the ways we can capitalize and generate more sales? Always be thinking of profitable avenues for your company.
Good book on this topic;
Data Driven by Thomas C. Redman
Harvard Press Review..
Steven Hume
www.linkedin.com/in/stevenhume66
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