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Bundaberg Chamber News

Write It Down

- posted by Yale Morgan

What’s that old saying? - The faintest pen will outlast the greatest memory/ Of course in this day and age, everything digital (good or not) is stored, somewhere, for eternity!

Lets discuss your marketing plan, regardless of whether you're a one man band, or a multinational, if you don’t have a marketing plan and it isn't written down, then you may be in strife!

A written marketing plan is such an important aspect of your business planning, I simply cant stress just how much! I often come across businesses that don't think they need a properly documented marketing plan (in many cases, there’s no plan at all!) - GASP! Your business is MARKETING!

So if you're a business, any business - a plumber, electrician, dentist, solicitor, lawn mowing, accountant or general store proprietor - You're in marketing (and sales, but we’ll cover that off in another issue). You bet, your job is to MARKET your products and services!

Here’s just how important a written marketing plan is:

1/ It will clearly define what markets are beneficial for your products and services and the type of customers you want to pursue

2/ Your plan will tell you when you've succeeded, when you've fallen short of your goals and when it’s time to review your direction to take advantage of new markets, or fight against the PIA competitors

3/ Your marketing plan is an all purpose document - if you don't have one, how will you know where the business is headed or how you're going to get there?

There is no such thing as “yep, I've got it all up here (pointing to your head)”, if it’s not written down and documented .. how can you measure your results? How can you define who will be interested in your products and services, how will you know what media or methods work best for you, and so on?

Make it a priority, NOW, so you can kick it into gear for you and your team to follow. Your business road map to success. Don't let this one slip - get it done NOW!

If you're unsure where to start, send me an email to yale@betterbusinessgroup.com.au and I’ll shoot over, FREE of charge, one of our Special Action Reports “Creating Your Own Marketing Strategies”

To Your Business Success

Cheers


Yale Morgan

www.yalemorgan.com


Learn To Love Objections

- posted by Yale Morgan

Last article we discussed “How do we sell more at higher prices?” Of course, along the way, you're going to have to cover and fend off objections. Some will be true others will be throwaway objections. In essence there are two main reasons for an objection to come up:
1/ The prospect doesn't trust you
2/ You haven't convinced them you can meet their needs or wants or help them achieve their desired objectives (especially in B2B situations)

Regardless of the reasons, the Golden Rule for Objection management is they are always a request for further information. The fact is, an objection, is a special kind of buying signal. If the person(s) in front of you weren't interested, they'd just walk away right?

I sales, we must learn to love objections and have clear strategies on how to handle them. Each business will have a fairly specific set of objections often used by potential customers/ clients.

It’s important to understand, a persons rejection of your request for them to buy is not a rejection of you, just a rejection of the offer you made. Originally developed by Peter McKeon of “Salesmasters International”, the key to success in handling objections is a 6 point plan. Over the next couple of Articles we’ll run thorough them.

Firstly you must Empathize the objection. Never argue with the objection as thats the fast way to lose the customer from the onset. Accept your potential customers perspective as the point in which you’ll begin the process of managing the objection.

As an example” John I can completely understand you’ll need to think about it, many of our most loyal customers said the same thing - at first”

So as your first action point, get your team together and list 5 main objections they face when selling to customers and start with Step 1 - Empathize The Objection.

I’d love to see what you come up with, feel free to flick over an email with your results to yale@betterbusinessgroup.com.au or leave a comment on the blog page.

To Your Business Success
Cheers

Yale Morgan
www.yalemorgan.com

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


Do You Own Your Own Online Real Estate?

- posted by Yale Morgan

In the past I’ve often written article on the importance of how people can find you, not just a physical location but also digitally. We’ve discussed web sites, Social Media, Google suite of products etc. Let’s pose this question - when you're about to meet someone new, perhaps a new client, supplier etc, what do you do? Google them right!

Guess what, they’ll be doing the same to you!

Whilst they might find your web site, maybe LinkedIn and other social media, often that information is confused with other pages of content, videos and images. Whist we know the importance of your rankings in Google for your web page, equally important is your personal name! What happens if someone Googles you and they cant find anything about you? What does that say to them, or worse, they may have to trawl through 20 other people by your name, just to find you?

You must own the online real estate for your name. A great web site, that takes less than 10 minutes to set up is http://about.me. In fact, writing this article prompted me to make some changes to my about.me site.

This is a great site to promote you which also linked to all your social media accounts, web sites, newsletter/ blogs and much more! Being a responsive web site, automatically people will be able to view on any device without you having to change any settings.

Check it out, set up a page and start get hold of your name as a brand.

To Your Business Success

Cheers



Yale Morgan



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



Is Your Customer A Zero Or A Hero?

- posted by Yale Morgan

Growing up we all had a hero, for some of us there were many, from the superheroes on TV to our teachers, youth leaders and of course our Mum and/ or Dad. Remember how we admired and respected them, even hanging on the every word they said.

Being in awe of their presence and wanting to grow up to be just like them? Sadly as we grow older, life gets in the way and in many cases we no longer have our heroes. But if you're in business, I put this to you .. Your customers and your team are your new heroes! Sadly I see many businesses treat customers as Zero’s.

Watch your business explode when you admire, respect and hang off every word your customers and staff say. Why do I include your team? In the words of Sir Richard Branson .. Look after your staff and they will look after your customers.

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


Would You Buy From You?

- posted by Yale Morgan

Interesting question, can you answer it truthfully? Now days customers meet with numerous salespeople (plus the online “electronic” salespeople), Your customer is exposed to every sales gimmick, trick, style and approach. The old rule about how someone will make a decision about you within 30 seconds, well, its probably half that with a sales person!

Your customer will either like you and stay interested, or don't like you and tune out. That's why it's important to constantly assess your own sales style ... in short, would you buy from you? Remember, you customer is only listening to their favourite station WIIFM (Whats in it for me)

That said here are 14 questions(as prepared by legendary sales guru Tim Bednarz) to ponder:

1. Do you show a genuine interest in your customer's needs and problems?

2. Do you listen attentively when your customers talk, or are you just waiting to give your pitch or add your own comments?

3. When you make promises, do you follow through and deliver what you promised?

4. When presented with problems or questions, do you always respond quickly?

5. Do you present your features and benefits before you have had a chance to determine how or why your benefits can help your prospect?

6. Do you over-promise your prospect just to close the sale?

7. Do you thoroughly believe in the company, product or service you represent and sell?

8. What is first and foremost in your mind? Your Commission? Your Quota? or Your Customer?

9. When you contact a customer, are they happy to hear from you?

10. Do you keep your customers current of what is happening in your industry and aware of current events that might be of interest to them?

11. What is your goal? To close the sale or build a long-term relationship with your customers?

12. Do you work to achieve a Win-Win situation with your customers

13. What would you do if you discovered that your prospect wasn't right for your product?

14. If your competitor's product better served the needs of your customer, would you recommend it to them?

To Your Business Success

Cheers,

Yale Morgan


What Will You Do Differently This Year?

- posted by Yale Morgan

As we enter the beginning of an exciting new year, I hope you have given time to reflect on 2015. Whilst there were many challenges, and obstacles, it’s also important we celebrate the triumphs! If you haven’t already, now is the time to be planning 2016 and what opportunities could be.

Maybe you’ve heard the term in business “I Have Met The Enemy – And He Or She Is Me”.

So often this is true but, a very exciting concept because that means as owners or managers, we have the ability to change dramatically, the insides of the 4 walls we call our business.

An article that we have used many times in the past (with updates), originally written by my mentor Damien Parker is something I like to remind my clients as we approach each new year. Titled “This Year”

  • This year I’m, not going to be a procrastinator; I’m going to do things on time every time. This year I’m going to utilise my time effectively.

  • This year I’m going to plan my day in advance – in fact I’m going to write down my job functions every morning – first up! I’m going to prioritise them and I’m going to attack them in the order of importance.

  • This year I’m going to give me and my family the priority we deserve, which is priority 1,2 and 3. I’m also going to concentrate on my health, because a dead me is no good to anybody.
  • This year I'm going to work on my spiritual health by spending time in prayer and meditation

  • This year I’m going to delegate more to my staff but firstly I’m going to find out whether they are suited to the role and then I’m going to train the hell out of them. 
  • This year I’m going to look for people doing things right, and I’m going to comment on their good performances and reward them accordingly.

  • This year I’m going to communicate more effectively with my staff, in fact I’m going to schedule regular meetings to inform them of what’s going on. I’m going to tell them what’s going right as well as what’s going wrong, above all, I’m going to get them involved. I’m going to seek their views and suggestions.

  • This year I’m going to implement a regular program of calling my customers or clients – just to say hello and to let them know that I care about their progress. 

  • This year I’m going to say thanks more often and smile when I say it.

  • This year I’m going to I’m going to keep a positive mental attitude and I’m going to be a motivator of others. 
  • This year I’m not going to make a promise unless I can deliver on it. 

  • This year I’m going to actively look for opportunities. 
  • This year I’m going to concentrate on pleasing my existing customers and be absolutely loving of my big customers.

  • This year I’m going to get everyone in my business to think “Do It Right First Time”. 
  • This year I’m going to concentrate on the rule of “A penny saved is a penny gained” and look for every cost savings idea in every facet of the business. 

  • This year I’m going to concentrate on building up my average sale, by actively up selling, cross selling, down selling and switch selling. 
  • This year I'm going to get smarter on the use of the digital economy in my marketing and become a social media guru

  • This year the entire business is going to concentrate on doing the little things right everyday, and to do this, I need to inform the staff, keep them alert and motivated everyday. We’re going to sweat the small stuff. 

  • This year I’m going to concentrate on building my business on a secure base. 
  • This year I’m going to get serious about training; I’m going to train my staff into a superior outfit. 
  • And This year I’m going to make my staff proud to be associated with my business or division and damn it, I’m going to mighty proud myself when we achieve all the goals we deserve. 



So go to it before your competition does, because within the 4 walls we call our business - there is enormous opportunity.


To a Positive and Prosperous 2016!


Cheers



Yale Morgan



Get your customers excited

- posted by Yale Morgan

A number of weeks ago I was at an amazing business conference with just over 300 like minded small and medium business owners. Whilst the conference was focussed around “Productivity” using new and innovative ways .. There is still no better way to boost sales and productivity than by making your business fun and interactive for both your customers and team. Ever walked into a business and felt the “vibe”? Positive or negative? If you have, then you can bet, so do your customers, clients or patients when they walk into yours.

I’ll use retail as an example (as we are approaching the festive season), but this can apply to any business, not sure how, drop me a line.

Now this is certainly not a new concept, but one I think many retailers, especially the smaller ones have moved away from. Seems everyone is focused on price and expect every customer that walks in is just "shopping for the best price" or looking at what they need and headed home to buy online. This in itself creates a psychological barrier between staff member and customer. The staff member already has a negative view of the outcome with the person in front of them who has taken time out of their day to visit, learn and possibly purchase. (I should mention only around 6% of people buy on price alone).

So what can you do to keep the registers humming? Simply this .. Have fun with your customers, ensure the experience when customers walk into your business is exceptional. Make everything interactive, show your customers the "really cool stuff" and thus generating excitement, let them play and experience the benefits right there, if you are in food, make sure the smells are amazing and they get a sample of what’s cooking! Why do you think places like Havery Norman make coffee and cooking demo’s in store? Now I know first hand, this is often a logistical challenge for the big players .. as a smaller business owner, you can do this anytime you choose! What do you expect will happen when you make things exciting and interactive? You guessed it SALES .. With great margin!

The overwhelming focus for your business should be the experience the customer has with every contact. People are all of a sudden no longer looking for the best price, but the solution, one that is fun and exciting!

When we change our attitudes towards the potential outcomes, the opportunities for growth are endless! And dare I say, a lot more fun and profitable. Get your team onside, and ensure that every person who walks into your business utters … WOW as they leave (with a boot full of your stuff!)

What is it that you and your team say or think, about your customers and clients, what are your attitudes towards those who enter your premises? Are you excited about what your business has to offer, the possibilities and the long term relationships you and your team can develop?

For a FREE Special Action Report called “Falling In Love With Your Business Again” send and email to yale@betterbusinessgroup.com.au

To Your Business Success

Cheers

Yale Morgan