At 21 years, just out of Business College, I went into the mail-order business. Spent 4-1/2 years in this venture and learned many valuable lessons about building customer relationships. #1 is TRUST. Folks like to buy from someone who is dependable and responsible.... with integrity.... one who "walks" their "talk".
You'll like our company name ? Donna's House of Lustre ?"Lustre" is about bright and shiny stuff. We sold silverware, dinnerware and related products. Some products were even imported for us. A great first business experience that has served me well.
Here's my point. We'd send out 50,000 direct mail pieces (cold list) offering a great product and price. 2% response was good. 1,000 sales. 49,000 mailed pieces wasted. 98% waste UNTIL the prospect became a customer AFTER knowing that we over-delivered on our promises.
Next, we would send the 1,000 BUYERS a special offer and get a 10 to 20% return with orders. Why? Their first experience with us was good. Value was received and confidence built in the relationship. The longer we were in business the more valuable each customer was to us as a friend, profits too.
Your best investment with your customer is to "exceed their expectation". Nothing less will satisfy and keep the pipelines filled with new orders. Today, we look for the salesperson to go beyond prior performance, to do more, and more again.
Point is ? profits are greatest in repeat business because you eliminate the waste. Many firms lose money on the first sale and make it up in future business AFTER passing the initial test of integrity and good business ethics.
VALUE - UP SELLING
Several opportunities come to mind. Did you offer the "Cadillac" STS or the "low-end" vanilla version in your promotion piece? Can you offer the customer a bonus opportunity to add new features? Better controls? Higher volume? Easier to read directions? Discounts on a second item? Buy two get one free?
Not "bait" and "switch" which is BAD customer service. You should always have in stock the exact item you have featured in your advertising. It is grossly unfair to invite a potential buyer into your store and then be out of stock EXCEPT for a higher priced model.
All of us appreciate knowing that a "better" model is available. It is quite possible that we would prefer the "best" rather than "no" features. Give your customer the option and he or she will be the decision-maker.
Show the benefits of owning each one. Everyone wants to save TIME. Get the job done faster. More features should mean more benefits. Remember, we all want to know WIIFM (what's In It For Me!) Maybe a price concession is currently available.
Always remember the old saying, "nothing ventured, nothing gained". You have to inquire to find the buyers "hot" button. Your job is to meet the needs of the customer.
BACK-end SELLING
In our mail-order days we called it "back-end" selling because it was the sales items that caught a "ride" with the outgoing products. Tag along, hitch a ride for FREE. No cost for advertising pieces except printing. No postage or mailing expense.
At the time, we sold an 8 place setting of stainless silverware (fork, knife and spoon) to the housewife. A super buy! Our "back-end" items were iced teaspoons, gravy ladle, butter knife, serving spoons, grill sets, dishes and all the rest.
Hundreds of our customers purchased everything we offered. It was a good feeling to know we were exceeding their very best expectations. Some bought for other members in their family and recommended us to their friends. Our kind of customer!
Our goal is to exceed your expectations in everything that we do. Any articles that you receive or products that are offered or purchased from us MUST be the highest quality and never fall short of the best.
Risk reversal is the key to success. Your customer should not have to take any kind of personal risk when doing business with you or your company. If your product fails to live up to expectation or to meet a need then a refund is in order.
Action Tip: Greatest profit potential is in future sales AFTER the first. Integrity and trust are KEY to growing your business on or off the Internet. Mail-order sales and Internet sales have much in common. Risk reversal for the customer makes buying our products an easy decision. 100% unconditional guarantee of satisfaction is an Internet imperative.
Don Monteith spent 32 years in the Staffing Business. His firm placed thousands of job candidates in their Dream Job. Today, he shares his expertise. Learn more by visiting his website at: http://www.HowToGetYourDreamJob.com
How many sales opportunities have you lost to competitors who... Read More
In the course of my career, I've had to deal... Read More
The most effective prospecting techniques were revealed in the August... Read More
For two winters I heated my house with an old... Read More
Usually my essays discuss the issues that the 'sales' method... Read More
How do you respond when an absolute stranger calls, at... Read More
Do you know why your customer won't buy? You've given... Read More
I'm not a baseball fan. Never have been. In fact,... Read More
This issue's topic was suggested by a sales rep for... Read More
When you think about ways to gain repeat business from... Read More
I've found that winners say "I choose to." Whiners, on... Read More
Terminology / AcronymsABC figures: This is the independently audited sales... Read More
Some businesses flourish while others slowly fade away. There's usually... Read More
To be more effective at developing relationships, one should always... Read More
The sales letter you can't put down?the advertising copy that... Read More
If you asked me to point to the heart and... Read More
Your prospect is in the market for a widget, just... Read More
Benefits are what motivate people to purchase from you, right?... Read More
If Chicken Little were alive today he wouldn't be running... Read More
"I am Sam. Sam I am. Do you like green... Read More
How many of you made as much money as you... Read More
First, recognize that motivation is an inside job. The word... Read More
Why would a prospect buy from you rather than from... Read More
Direct sales can be your ticket to a profitable home-based... Read More
We all have people whom we find difficult. We don't... Read More
When it comes to buying mortgage leads, there are many... Read More
After reading and researching thousands of books, articles and other... Read More
"Value-added." That word is used so much it has become... Read More
Saturday morning, I sat in my pajamas, sipping strong, black... Read More
You've polished your sales page over and over againuntil it's... Read More
Along with having an innovative supply chain, there's another reason... Read More
Looking for new leads, new contacts, new business opportunities? Do... Read More
1. Sell your products at a wholesale price to retail... Read More
When I first started out as a loan officer, one... Read More
Want to build a successful incentive program for your company?... Read More
When was the last time you thanked your customers?This often... Read More
When you are in the business of sales, among the... Read More
Selling With Purpose What is it about selling that makes... Read More
If you need to hold a fundraiser and don't know... Read More
"Open-source" is typically found in the Information Technology area as... Read More
Could casual Friday be undermining your leadership ability?One of the... Read More
Hello Everyone: Here's a unique look at learning how tosell:... Read More
Neil Rackham turned the world of high-ticket salesmanship on its... Read More
First - being before all others. Fast - moving or... Read More
For the past months, maybe a year, I've been hearing... Read More
A key method of our survival in the business and... Read More
Offering gift certificates is an excellent way of increasing sales... Read More
While living in the technology age where everything is computerized,... Read More
Most business people will tell you that selling is not... Read More
Successful salespeople have the ability to turn the customers they... Read More
At 21 years, just out of Business College, I went... Read More
I've recently been hearing sales companies talk about how they... Read More
Make no mistake that emotions are the driving force behind... Read More
? Go through the "no's" to get to "yes." ?... Read More
When it comes to buying mortgage leads, there are many... Read More
Some trainers and sales managers teach that there are prospects... Read More
Most salespeople I know consider cold calling a dreadful, but... Read More
If you are in the mortgage business, the very first... Read More
1. Make telephone callsFew things are more terrifying than the... Read More
The number one requirement, whether you are a business owner... Read More
Have you wasted valuable time and money on promotion that... Read More
When Dr. Frankenstein exclaimed "it's alive... it's alive," he thought... Read More
All customers have a choice to make. Sometimes that choice... Read More
A lot of people are very intrigued by the idea... Read More
After reading and researching thousands of books, articles and other... Read More
The formula for defining a "profession" is similar throughout many... Read More
Sales |