Archives for posts with tag: Sales

In a recent post I explained that the 4 basic questions you need to cover when you introduce yourself is who you are, what you do, who you do it for and why it matters.

A really good follow up question from someone who is sufficiently engaged with you is ‘how do you do that?’ They’ll only care about the how if they’re genuinely interested or they’re making polite conversation. This got me thinking about how I would explain the process by which I get companies to accelerate their time to market and their sales growth.

Imagine holding an imaginary set of bellows or a concertina in your hands. Then you bring your hands together, before bringing them apart. That’s exactly what you do in sales and marketing to grow more quickly.

You have to reduce in order to increase. By that I mean that you start with your market, then you narrow down the segments of that market until you’ve identified the ideal target audience for what you do. Then you design your offering and your marketing and sales messaging to that audience. Because it’s tailored to the specific requirements of your tightly defined target audience, you have good success and you quickly grow your business or your new product or service.

So, how you do it is by reducing to increase. I imagine that the next time someone asks me how I do what I do I will accompany my explanation by the bellows or concertina hand actions, to reinforce my point.

Advertisements

I saw the headline of an article the other day, and clicked on it, because it looked of interest. Except I had clicked on for the wrong reason, or at least my analysis was wrong.

The headline was: When is a Sale a Sale? I thought it was a cool article about defining when you have successfully closed a sale; some new insight on sales methodology. What we would call closing a deal in B2B. Is it a sale because the customer commits to the order verbally? Is it the receipt of the PO or the contract? Or is it the payment of the invoice or the handover of the cash?

In fact it was nothing of the sort. The article was a consumer-focused piece about what constitutes a selling event, the other kind of sale. It was about the retail industry trending towards a state of permanent sales and how difficult it is now to differentiate a true sales event and a retail status that is claiming ‘special’ sales status when it really isn’t.

Not to mention how difficult it is for retailers to get out of that sales spiral and protect their margins.

So, two different kinds of sale, and I clicked through under false pretences, but an interesting skim-read nonetheless.

Are you an overseller or an underseller? Is your default position overselling or underselling? I’m talking about either in a sales or a non-sales environment.

I’m generalising now, but I find that business-to-consumer (B2C) interactions are generally overselling.

‘Your table will be ready in a few minutes.’

‘I’ll have that fixed for you in a couple of moments.’

‘She should be back to you in a day or 2.’

It’s vague, intimate, approximate, and unreliable. The stakes aren’t too high, that’s why.

Business-to-business (B2B), however, is different, or should be. You want to under-promise, and undersell, so that you can overdeliver, and delight, your much-higher-stakes customer.

You find people are oversellers and undersellers too. Me, I’m always trying to be underselling. I try not to overpromise. I try to deliver early. I try to deliver more. Other people are not undersellers:

‘I’ll be back to the car in a couple of minutes.’

‘I’ll meet you there at midday.’

I’ll have it for you tomorrow.’

If you sell the dream, and the dream doesn’t appear when it should, you create disappointment, a phantom version of what you promised. When you let someone down, even in a microscopically small way, you create a microscopically small phantom.

The question is: do you care?