I’ve noticed these days that companies spend more money and effort trying to acquire new customers rather than trying to develop loyalty among their existing customers, up-selling and cross selling their customer bases and soliciting referrals. What a waste. You already know that its more profitable and more satisfying to sell to your existing customers, so why don’t many big companies endorse this strategy in their marketing and sales plans. My best guess is that its sexier to create new ads and programs focused on attraction. Perhaps new client acquisition is easier to measure for marketing departments so they throw all their resources into it.

Too bad. During this economy its much easier and profitable to hit your numbers by going back to those who already trust you!

Did you ever notice that all the best deals on cell phones are reserved for the new customers. As an 11 year customer of my wireless carrier I have to call, wait on hold for 10 minutes and demand (beg) for a “deal” when I want to upgrade. This seems backwards to me. Make sure you don’t fall into that trap. Take care of your existing clients and ensure that you are maximizing their annual revenue stream. Here are a few ideas:

1. Be in touchwith your clients at least monthly. Dan Kennedy and the Information Marketing Association estimate that the value of your customer list decreases 10% every month it goes uncontacted. Check out our recent article on this subject “get into the VORTEX”.

2. Sell up. Create a list of your products and services and attach every other product that can additionally benefit prospects. When you deal with your existing customers, you can easily suggest new products with additional benefits that they need.  As you get into the habit of offering additional value, your average sales price increases and doe the loyalty of your customer

3. Share insider information. Your customers want to fee close to the action, like they are an insider. You can create that feeling and boost sales for new products by providing a personal touch. Top sales people make it a point to send a personal email, make a call  or leave a personal voice mail to tell loyal customers about launches or changes to existing products first. Receiving the “inside word” makes buyers feel appreciated and it increases the chances of gaining more revenue from buyers who are already predisposed to buy from you. In addition to increasing revenue, providing your customers with inside information makes them feel part of the family which has two important benefits. (1) they will think of you first when they need to reorder and (2) they will refer you freely to others.

4. Provide customer rewards.I fly Star Alliance religiously because I want the miles.  I use my visa for every purchase not matter how small because I want the points. I use my Body Shop Card to by body products in order to recieve discounts, frequent the same pet food stores to buy dog food for Conrad and head to the same family of hotels resorts every year because of rewards points. Yes, even reload my Starbucks card on line to get the free latte! Offering your clients a reward system for doing business with you can have a huge impact on loyalty. Think about offering your clients a chance to earn points they can apply to discounts and other purchases based on the frequency and volume of their purchases.

5. Free gifts.Free samples, and trials of your products can be a great way for loyal customers to gain experience with your products and increase the likelihood that they will make another purchase. Small, useful gifts such as stationary, pens and mouse pads can be a great way to start a conversation and keep your name in front of them all day long. Recently Engage client Kathleen Moore had a client call about a calculator she gavehim over 2 years ago. He wanted a new battery and mentioned how he used it everyday, and always thought of her and the company. Kathleen – being a smart sales person when out and bought a new calculator battery for him and dropped it off in person. At the same time, she was able to secure a referral to a new buyer in the organization.  Best to keep the gifts small as many customers – especially at the executive ranks – are returning gifts that appear big or expensive. No one wants to feel like they have been bought. Everyone wants to feel appreciated! While you are at it, don’t just reward the actual buyer with your gift. Make a point of passing out the freebies to everyone benefiting from your product or services. It’s a best sales practice to build loyalty and excitement amongst the users as well as the user and influencers.

6. Prioritize buyers. Ranking customers on profitability rather than just gross sales makes it easier to pinpoint those customers who demand a great deal of time while producing a small return. If you know who your most profitable customers are you can allocate your time wisely.

Dedicated to increasing your sales,

Colleen

 By now you know that a principle tenant of my sales philosophy is that Honesty Sells! In fact Steven Gaffney and I have a book coming out about this very topic early in 2009. Many sales people are tarnished with the snake oil; slimy liar; brush and is it any wonder? Bad and deceitful behaviour still exists. I know we all wish it was not this way but when one one us behaves badly, it taints the market for all sales people. After all, we sell within the perception of our buyers. It’s the buyers reality that influences whether they buy from us or not.

That’s why I am so frustrated with this Bob Beck plagiarizing scandal. Sure its maddening that he stole from me and profited from my work. Even worse though, he makes all sales people look bad. Based on Bob’s behaviour its easier for buyers to say; See, I told you, even the sales experts lie and cheat. Sigh. He has just made it harder for all of us - trainers, experts, and everyone on the street –  to sell honestly and build trusting relationships with our clients.

Today two more incidents of plagiarism surfaced affecting good friends of mine. You can see them at: 

Jill Konrath: Outing a Plagiarizing Expert

Jim:Bob Beck Trusted Advisor or Plagiarizer. You be the Judge

Dedicated to improving the buyer seller relationship!

Colleen

They say that imitation is the ultimate flattery but what if that imitation is blatant theft? Or in this case plagiarism? This morning I woke up to find that Bob Beck, another sales trainer has stolen my work, posted it on his site and is passing it of as his own. How did I find out?
 
It seems the problem has been rampant for a while with Bob. The first case noted was a stolen white paper that Bob was selling from his site. He has since said it’s removed from his site…others can still find it.
 
The second claim came from Dave Stein of ES Research Group who caught Bob stealing content and emails.
 
And then my case appeared. Interesting to note that Bob Beck blames an intern for the mistake. If you read his responses, he acts like a victim “my stuff is stolen too”  “that is an old website” “it was the intern” “how was I too know his work was stolen”. And my favorite “I understand have no choice but to take 100% responsibility since my name is on the white paper and one particular proposal that was written.”… Because doesn’t that sound to you like although he “understands” he doesn’t actually “believe” he should take responsibility?
 
Maybe he is telling the truth, maybe not. Here is what I know. He apologized for Dave Stein and for the trusted advisor white paper after he is outed. He promises to take the sites down on Oct 22, but as of this morning they are still up. Although my work is also mentioned to him, he does nothing about taking the article down or apologizing to me. The truth is that my article was stolen and posted on his site Nov 2006, 2 years ago, It still remains on his site, and he has done nothing to remove it or apologize to me even though its been brought to his attention by others. If he is waiting for me to out him… wish granted.
 
Today we took that matter into legal hands. A sample of the letter show casing some of the offending material is below. If it turns out he is a member of my professional association there will be an ethics violation brought against him. If he isn’t then there will be a cease and desist letter mailed because he is, on one site only, claiming to be an NSA member. It’s my IP, you – my clients pay me for my experience and expertise. And just like the patents and trademarks you own on your processes, products and services, I will protect my words.

This is just a sample of the article. And what I find even more ridiculous is that my article quotes Dan Kennedy. In Bob’s version, he changes the attribution and keeps the quote. So in this one example he is not only stealing from me but also Dan.
 
Ironically Bob’s book is called “Mutual Respect” he teaches “Quid Pro Quo” and claims to be a “trusted advisor” to CEO’s. I wonder how stealing and lying fits into his sales process.

It’s also ironic that in his defense, he claims to be a thought leader who writes. But then turns around and admits that interns do his writing for him. Hmmm. Am I the only one who thinks that a bit ironic?

Should this go down on my list of Top 10 Sales Lies for the Sales Hall of Shame Wiley is publishing?

We are now doing an exhaustive search of his material and contacting his partners with this information. I am sure Wiley will be interested to know if he has been stealing material they now own as the publisher of my books. They have much bigger legal pockets than any of us!

Mad as hell and not taking it any more,

Colleen

Hi Colleen. How often do you recommend sales meetings for the reps and is there a better time and day? Thanks Karen

Hi Karen!

I recommend group sales meetings once per week for 60 minutes max! Monday mornings work great because they can be a motivational way to kick off your week plus you can set some short term goals for the team to try and accomplish. I also know companies that use Wednesday. This works well if the team is local and doesn’t travel. If everyone is travelling I find Wednesday’s difficult to coordinate because by mid week everyone is usually flying around the country if they have territories to visit! Wednesday is the busiest travel day according to air traffic reports. Morning meetings tend to be the best attended with the best energy so I would start by trying a Monday or Tuesday morning and see how it works for you.

Some fun history… In the 70’s and 80’s my Dad used to have his sales meetings at 3 pm Friday afternoon to ensure his team worked a full day! Those were the days when sales managers kept a full bar in their office, making the meeting an attractive alternative to skipping out early! I’m not sure if you can get away with that in your environment these days! LOL.

You should also try to schedule 30 minute 1:1 with your team weekly or bi weekly as a check in and to cover topics too sensitive for a group meeting. At this session you would review individual performance and activity level, debrief sales calls and set goals.

I hope that helps! Let me know if I can offer any more advice.

Good luck! Colleen

Twice this month we have had articles nominated on the Top 10 Sales Articles website. Thanks for your vote! You can read both articles on the salesopedia website:

Your price is too High

Creating the Ultimate Vision for Ultimate Success

I hope you enjoy them

Colleen