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Bundaberg Chamber News

Break It Down and Sell More

- posted by Yale Morgan

How do we sell more at higher prices? Whilst there are a number of strategies available, I like to go back to an “oldie but goodie”. Perhaps you've heard it before? “Break it down to the ridiculous”. In todays economy, its easy to use coffee as a value, why .. because most of drink it and from a cafe so we’re up on what the cost is plus the frequency.

So what does coffee have to do with sales of your product or service? Let’s assume we have a value of $4.50 for a coffee, straight away we have a measurement. So when we are doing complex sales that involve a reasonable some of money we can put the coffee economy into perspective. Here’s an example:

Builder A is $20,000 more expensive than Builder B. We know on average we stay in our homes for between 7-10 years, but most mortgages are around 25 years so thats how people think when it comes to pricing, here’s what builder A would do.

Knowing that the client wants the additional benefits of Builder A but is struggling to justify the $20K price difference, Builder A should go back to the golden rule which is “People buy on emotion but justify with logic”. Simply builder A would show the client this:

"Mr and Mrs Client (because another golden rule is to have both decision makers at the closing presentation), your new home will be a source of joy for the next 25 years and beyond, do you realise for you to build and raise your family in your dream home, it’s only $2.20 a day, that’s less than a half a cup of coffee …” and then how they manage to close the deal out.

You can use this strategy for any larger ticket purchase based on the length of time the customer/ client benefits from the product, try it out with your team, get some numbers and scripts in place and sell more!


To Your Business Success

Cheers


Yale Morgan

www.yalemorgan.com


What Type Of Sales Person Is On Your Team?

- posted by Yale Morgan

As we continue with our series on sales and selling, I’d like to share some great insights into the types of sales people that are possibly on your team and what that could mean for your business. Saturday just gone was Re iGNITE Business Conference where we focussed mostly on sales. Guest speaker Tony Gattari form The Achievers Group, shared some principles from a book “The Challenger Sale” where authors Matthew Dixon and Brent Adamson share the secret of sales success. They have identified typical sales people.

Basically there are five distinctive types being:

1/ The Hard Worker

2/ The Challenger

3/ The Relationship Builder

4/ The Lone Wolf

5/ The Reactive Problem Solver

Over the next couple of weeks, we’ll unpack these sales types and share what results they are likely to provide your business.

Lets begin with “The hard worker”, typically they are always willing to go the extra mile, tenacious and wont give up easily. As a general rule they are self motivated and interested in yours and customer feedback and personal development. Great to have on your team, happily crunch the call numbers and don't get overly concerned if a deal falls over. Although, they will work even harder to try and resurrect it.

Secondly, lets consider “The Challenger”, these people have a completely different view of the world. They understand the customers business, needs and wants. Because of this they love to debate, yes i hear you thinking, what argue with a customer?? No - challenge your customers thinking, push them, delve into why they are buying and what results they truely want. Consider them like a gym coach .. never letting up until you've done your reps, pushing you to your limits to the the desire results.

Yes, at time I’m sure you'd like to drop the weights on their head, but when you fall back exhausted knowing how much good that has done you, you're very appreciative of the push.

Next week we’ll cover off the remaining types and look at who gets the best results.

To Your Business Success

Cheers



Yale Morgan



How Effective is Your Web Site Front Page

- posted by Yale Morgan

What is the number one goal for your web site? You may be surprised, no, it's not so people can learn more about you, or the stunning graphics and clever intros it's not so people can see what you're up to, how good you are etc, frankly they don't care, they only care about what you can do for them, How you can add value to their lives.

In business, your Web Site's sole function is to gather you leads and pass them on to you or the team member you have dedicated to web enquiries. The same as any marketing, you want your customers to do something.

Previously I’ve written (and spoken about many times in seminars) about monitoring conversion rates when people make an enquiry via traditional means. Well, your web site is no different, in fact it's crucial you do everything possible to make it easy for potential customers to connect with you. You've got around 30 seconds, or less before, they decide you are or are not for them. What is the golden rule in all marketing? To be able to test and measure results, luckily the Web allows us to track this easily. (Perhaps another article). To do this, you must have a data collection device on your site, preferably right hand side under the heading. You must have a completing reason for the customer to give you their name and email address, remember you need to add value to them. Often we use important and high value tips or reports etc in exchange for their name and email. At this point, don't ask for anymore details, there are reasons why but again, perhaps for another article.

Remembering the web can give us information on how many visit, what they look at, for how long they stay etc, but most importantly the statistic on how many visits to downloads - hence your conversion. Now, here's the exciting bit, you can have your web page automatically split and display two pages in rotation, on each of these, change one aspect, perhaps different offers, headlines, video vs copy or any other testing measure you choose. We call these "A/B Split Test" .. For example, when I log on to your site, I'll see a different page to someone else, a 50/50 split.

This all happens without your continued input. I'd suggest you leave this for two weeks to a month, run your report and display the page that gives you the best results. Again, you may want to create another A/B split test with this page and change one aspect, just like you would with traditional marketing.

To Your Business Success

Cheers



Yale Morgan


How To Write Great Sales Copy That Sells

- posted by Yale Morgan

When you write sales copy, be it for print or online, its important you put yourself in your customers mindset, think and act like they do. Imagine your typical “A Grade” customer and write your copy directly to him or her, just as you would write to a friend or relative. Remember we have talked before about the format of good copy AIDA (Attention, Interest Desire and Action), but this article where the content comes in to play.

Consider these when creating sales copy that gets “bums on seats”, they are:

1/ What your potential customer wants to know

2/ What are they thinking (an educated guess, by knowing your typical customer)

3/ Their potential personality make up (previously we have discussed this as well, important you understand what makes them tick)

Below is a few key check list items you’ll need to expand on for great sales copy:

1/ What is the proposition? - exactly what are you offering?

2/ Whats in it for me? - This is by far the biggest concern, you must explain how they will benefit form the product or service.

3/ Why should I believe what you say? Trust is so important, if your offer seems to good to be true, guess what .. you’ll only attract the wrong type of customer.

4/ How long does it take to receive? Anticipation is great, but don't disappoint by promoting something then letting your customers down with delivery times. an easy example would be the delivery of a product that has to be ordered, but what about promoting a specific service and then turn around and say “sorry, i don't have any available appointments for 2 months”

5/ What will you do if I don't like it or it doesn't suit my needs? Other than statutory warranty, again this is important. I spend a lot of time with clients on Risk Reversal, in essence, you need to take the risk out of buying for them.

6/ Have I made the right decision? - It’s important address this by reassuring them in your copy.

And finally:

7/ How do you want me to respond? Remember the “Action” from above, you need to tell them exactly what you want them to do. e.g. call this number, visit this site, cut out this section etc.

So have fun with your sales copy, always be honest and ethical and if you know your target market, you’ll have success!


To Your Business Success

Cheers,

Yale Morgan