Tag Archives: sales

Random thoughts – keeping you on your toes

Closing the Deal

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Some interpersonal interactions involve influence and persuasion leading to both parties agreement.  A sales transaction is a common example of this, but even the most informational type of exchanges require some closure (to be considered effective).

There is a huge knowledge base around techniques to achieve closure.  Training courses abound and the technology to support deal closing has exploded in recent years.

Achieving success often requires getting others agreement whether to a strategy,purchase or approach (or all of the above).  For myself I have found good success by following some basic principles.

 Motivation

When trying to influence a change/ sell an idea or product, the first step is to get attention from your target.  While gaining their interest evaluate their motivation (i.e., why are they interested?)

Does your target:

  • believe they need to buy, accept, agree to your proposition (i.e., they want something, maybe not sure exactly what but are receptive to agree to something)
  • agree to let you entertain them out of politeness or someone made them  -they are not really interested
  • express that they are are intrigued but skeptical, they are willing to listen but maybe not much more.

Planting the idea

Ultimately if you can get the agreement decision to be championed and proposed by your subject, that is, it’s their idea, chances of a successful close are high.

Unless you are a mentalist or hypnotist you might believe planting the idea so it comes from others is not a realistic approach.  Actually it is quite doable.

Based on their apptitude – they are ready to deal or being polite or forced or semi interested,  the approach is slightly different butthe fundemental methodology is the same (let it be their idea).

The key to this methodology is simply creating involment in others through asking for questions, opinions, thoughts and advice. That is, putting the ball in their court.

Try it, you will be surprised how often your target takes charge, suggests the solution, purchase or strategy you guided them to by probing and questioning, so they think it is their idea.

 

 

Random thoughts – keeping you on your toes

The Sales Rant Continues

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One of the foundations of our economy is sales.  It is a very simple equation.  On one side is a producer with a product or service to sell and on the other is the consumer who needs the product or service.

When the price the producer wants equals what the consumer wants to pay a sale occurs.  No sale, no economic activity.  The buy and sell transactions can be linked in chain.

In these cases, failure to sell at the bottom of the chain can impact a long string of financial activity.  For example, the steel sales falls through, the car is not built, so no gas or oil need be purchased.

Sales are Good for All

Logically then, from this perspective, sales are good for everyone and important for a growing and/ or thriving economy.  Yet sales people have a bad reputation.

Many feel, don’t sell me, if I want to buy it I will seek you out.  The problem with this is the fact sales are a fundemental driver of our economic prosperity and the submit and hope approach really doesn’t cut it.

In short, the economy needs  sales activities and not just neccessities like food but unnecessary things like junk food sales are a key factor in vibrant economy.

Valuing the Sales Person

Over the years my wife and I have bought and sold seven homes.  We paid for the services of a professional sales person in every case (i.e.a real estate agent).

If we had not recieved value from these agents we would have stopped using them.  However, seven times without fail they helped us get better faster deals, with less effort on our part.

A service well worth paying for.  Like most I don’t like dealing with sales people, but I sure see the value.

 

Random thoughts – keeping you on your toes

Banks Sell Services – OMG what a surprise!

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The recent negative publicity afforded to the TD bank about aggresive sales practices has raised questions about Financial Services employees selling their companies products to customers.

Seriously

These stories make me laugh out loud.  The banks in Canada are not altruistic institutions, don’t kid yourself, they are in it for the money.  As a shareholder of almost every major financial institution in Canada, my view is, go for it, sell your products and services for a profit. The more sales the better.

A paid employee is complaining about their employer setting sales gaols and monitoring their progress.  And some are sympathizing with the employees and chastising the employer, really, give your head a shake.

Lets Get Real

When you ask a financial advisor for assistance, whether it is to buy insurance, get a loan or make an investment, or even just give advise, don’t kid yourself, they are not helping you out of the goodness of their hearts.

Probably, selling you a product or service (e.g., advice) to satisfy their performance goals or increase their compensation (like a commission,bonus or tip) is the prime motivator.

That is not to blanket all financial services employees with a single brush stroke.  Of course most do want to be helpful and viewed to be such.  That can after all drive both referals and repeat business ( more sales, commissions bonuses, etc).

That being said, they are still ultimately going to try and sell you something, after all that is what they are paid to do.

Am I schocked TD employees are complaining about sales targets?  Not really, getting paid while not having to work hard is probably easier.

Am I surprised that the public does not seem to be aware that employees working for a company that makes money from product and service sales are expected to be sales people?  It does make me wonder.

Speaking from Experience

Full disclosure, I worked in Financial Services for more than 37 years and sold a lot of products while providing exceptional service and I don’t feel guilty at all.  It was a job I chose and was good at.

It never occured to me to try and figure out if the customer needed the product, only if they wanted it – which really equates to need.  That is, if you want it, you need it. Who am I to question that?

 

Random thoughts – keeping you on your toes

Selling Stuff

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The Canadian prairies have been hit by a deep freeze.  It’s estimated daytime highs will range from -15 to -20 degrees celcius.  On the celcius scale 0 degrees is the tempurature water freezes at.

This got me thinking about my cars block heater.  In the past I usually plug it in before I go to bed and leave it on overnight.  The recommended optimal usage is only 2 to 3 hours before you start the car, so this overnight use is not environmentally aware.

For convenience a block heater timer is suggested.  This way you can plug the car in the evening but the electricity flow can be scheduled to start at the appropriate time, say 5:00 A.M. for example.

Google to the Rescue

I quickly identified a fabulous sale at Canadian Tire, $10 for a timer with a regular price $30.  Amazon, Walmart and other major retailers products were all in the $25 to $30 range.

Off to Canadian Tire’s Wyndemere location, aisle 52, with 133 items in stock. The display was there with the product name and price, no product.

Making a long story short, after 15 minutes of me waiting while he looked, the sales rep located the timers by the cashiers where they had all been moved to take advantage of impulse sales.

While I waited for the sales rep at aisle 52, I counted 10 disappointed customers who probably saw a flyer or found the item on the web site, went to the advertised location and found themselves out of luck.

Seems like the strategic positioning of ALL the product away from it’s normal location was not such a good idea.  I did suggest this to the sales rep who clearly thought I should stick to my day job.

What do I know about selling stuff?

More on this saga tommorow.