Leadership, Communication, Presentation & Sales Development Blog

Tuesday, July 23, 2013

What Is Your Flight Plan For Business Growth - Part 4

How To Increase Your Number Of Sales Per Client

Stock Brokers offer occasional initial public offerings (IPOs) to select clients.

Clothing stores offer "by invitation only" events for preferred clients

Auction houses offer "by invitation only" events for preferred clients

Jewelry stores offer "by invitation only" events for preferred clients

Airlines offer frequent flyer points reflecting the number of times traveled or distances traveled with them.

Miles Laboratories published a small cookbook filled exclusively with spicy recipes, and then gave the book away for free. Why? Miles Laboratories is the maker of Alka-Seltzer, an antacid digestive pain reliever.

How many consumer retail stores now offer loyalty cards i.e. 'Buy 9 and gain your 10th free" etc.

These are not just random, unrelated business-increasing anecdotes. Each example represents a well thought out, documented, income increasing principle or leveraging strategy.

Now you might be thinking, "My business responsibilities don't include clients and selling. I'm in the accounting / human resource / quality control / production department".

Think again because the fact is, everyone is in sales!!!

Whatever area you work in and are responsible for, you do have "clients" and you do need to influence and "sell".

Think within your organisation. Typically referred to as internal clients / stakeholders, who might include the head of your department who you might need to influence and sell towards your project, your proposal, your promotion, your perspective, your value, or your pay rise.

Your internal clients might also be those who work under you, and you need to influence and sell them towards giving their best, meeting a deadline, thinking out of the box etc.

Your internal clients might also be people in other departments who could aid you etc.

Think external to your organisation. How many vendors, complimentary companies or future employees do you have to influence and sell to?

When you read the phrase "selling your product or service", don't just think in terms of products and services your company sells. In addition, think of your individual and intangible personal product or service, yes - YOU!!!

You will need to influence and sell to others your ideas in order to advance your career, gain more respect and increase your success and income.

All the success strategies EffectiveCommunication.com.au shares with you are designed to raise you above your competition. If you work for a company, you have your company's competition to contend with. You also have your personal competition - the person down the corridor who you are competing with for your next big promotion. Or the person who just sent their resume to Human Resources because they want your job.

Look out for our future success strategies, which will help you to better influence and make that sale.

All the best with your business!

If you would like to discuss how to improve your organisations capability in the areas of Leadership, Communication, Presentation & Sales then simply contact us for a complimentary, no obligation conversation.

Go to www.EffectiveCommunication.com.au to find out more

Posted in communication coaching, Communication Training, Leadership, Leadership coaching, presentation coaching, Presentation Training, public speaking training, sales coaching, Sales Training, Training by effectivecommunication.com.au

Monday, July 1, 2013

What Is Your Flight Plan For Business Growth - Part 3

How To Increase The Value Of Each Transaction With Your Clients

Car companies will always advertise a new car for a 'base' amount, yet how many times have you paid just the advertised price when buying a new car?

Maybe like the majority of people buying a new car you purchased a few or many extra items like air conditioning, automatic sun roof, rust protection, scratch protection, upgraded security, upgraded music system, extended warranty, financing etc... The list goes on.

Maybe when going to dinner with a budget in mind you increase the value of transaction when presented with a better wine than you first considered or when the waiter tempts you with the dreaded (but tasty) desert menu.

When the global toy company named Matel gets you to buy a Barbie Doll, the Barbie comes with only one outfit. How many parents have made additional Barbie purchases including, more clothes, car, house, the Ken Doll etc. And surprise, the Ken Doll comes with only one outfit.

Telecommunication companies offer much more than a standard phone line. They additionally offer you phones, Internet, fax, call waiting, voice mail, cable T.V, automatic callback, additional lines for computers, security systems etc.

No telecoms company holds a gun to their prospects and clients. Instead, they are typically very effective at offering 'add-ons' and 'upgrades', then people purchase these because of the better performance and results they offer.

You might be selling yourself as an employee knowing that increased salary is a by-product of your management's perception of your value to their business. Therefore, find something that no other employee across your company is doing (or doing well) and voluntary add to your current responsibilities.

Every time a person or company purchases from your business, you have an immediate opportunity to increase the value of that transaction!

Your motive must be benevolent and not self serving. This strategy is not just to add to your short term profit. Instead, this is about helping your client to gain the optimal number of benefits and outcomes from your products / services.

During the 1930's the Kraft company tried to market and sell a low priced cheese powder, but the public were not interested and sales were a failure.

One of Kraft's sales reps from North America thought 'outside the box' towards unloading his allotment of powdered cheese. His simple, yet brilliant and profitable solution was he added individual packets of cheese powder into the boxes of Kraft macaroni which were selling successfully.

The salesperson then convinced grocery retailers to sell their customers the concept of the 'Kraft Dinner'. This concept became so successful the Kraft company added this 'all in one' dinner to their product line.

How did this simple solution work in the long term? Recent research shows that more than 55% of main meals in homes across the United State of America are per-produced.

You have both the opportunity and responsibility to introduce your prospects and clients to every option that relate to the benefits and outcomes they hope for.

Introduce your prospects and clients to 'add-ons' (aka - cross selling) and 'upgrades' to help them graduate to a more sophisticated or superior option to better serve their goals with your product / service. They don't have to buy 'add-ons' or 'upgrades', yet you have an obligation to introduce and demonstrate the improved performance and outcomes.

It's as simple as incentivising your prospects and clients to trade up!!!

If you do your part well, then in addition to your client be more impressed and satisfied with the preference and outcomes the better product / service gives them, your business makes more profit!!!

Evidently there are many additional ways to increase the value of your client transactions and so, look out for our next newsletters.

Posted in Communication Training, Leadership, Presentation Training, Sales Training, Training by effectivecommunication.com.au

Wednesday, June 19, 2013

WHAT IS YOUR FLIGHT PLAN FOR BUSINESS GROWTH? - Part 2

How To Increase Your Number Of Clients

It is interesting how many companies when income curves become stagnant tend to whip sales & account management teams to do more of the same, when better incentives might be the simple solution.

For example, a company experiencing income stagnation applied a compensation program that paid the sales person 10% of the profit per sale. So when a $1,000 sale was made the company retained $900 whilst the sales person was compensated with $100.

Upon consultation the company calculated the following 3 simple questions:

Average worth of first purchase from new client?
Average number of times new client will purchase in the first year?
Average number of years client will continue to purchase?

The company responded...

Average profit of $200 for each new client first purchase of which the company kept $180 & compensated the salesperson with $20
Average number of purchases per year was 5
Average number of years new client continued to purchase was 3

Based on this the company accumulated approximately $3,000 profit over the average lifetime of a new client of which the company kept $2,700 and compensated the salesperson with $300.

Upon further consultation, the company was advised to:

Compensate the salesperson with 100% of the profit from every first sale they produce
Compensate salesperson with 10% of every ongoing purchase from new client
10% ongoing compensation to continue ONLY if salesperson maintained new client to continue average purchases (5 x per year over 3 years)

What do you think happened?

First, the salesperson was compensated $200 instead of $20 for every new clients sale therefore, the sales team was 9 x more motivated

Second, the life time value of each new client was worth approximately $3,000 therefore, with this strategy the company now keeps $2,520 and compensates the salesperson with $480

Ultimately, with the sales team greater motivated, the company TRIPLED it's number of new clients in only 9 months!!!

Evidently there are many additional ways to increase your number of clients and so, look out for our next newsletters.

All the best with your business!

If you would like to discuss how to improve your organisations capability in the areas of Leadership, Communication, Presentation & Sales then simply contact us for a complimentary, no obligation conversation.

Go to www.EffectiveCommunication.com.au to find out more

Posted in communication coaching, Communication Training, Leadership, Leadership coaching, presentation coaching, Presentation Training, sales coaching, Sales Training, Training by effectivecommunication.com.au

Wednesday, June 5, 2013

What Is Your Flight Plan For Business Growth? - Part 1

3 Ways To Geometrically Grow Your Business

The human brain is a remarkable, creative asset capable of processing and understanding complex and intricate concepts. Yet at times, unable to recognise the obvious and simple.

Some examples of this are:

Ice cream was invented approximately 2000 B.C. Yet, it was almost 3,900 years later (1900's) that someone figured out the ice-cream cone.

Meat has been on the planet at least 6,000 years. Bread was baked since 2,600 B.C. Yet, it took almost 4,300 years after this (1700's) to commercialise the meat sandwich.

The modern flush toilet was invented in 1775, but it wasn't't until 1857 (82 years later) that someone developed toilet paper.

Once these and similar connections are made they seem so obvious and our remarkable brains consider why these ideas were not materialised sooner.

Believe this or not but a number of ideas and unmade connections exist today, even in this generation known as 'Technological'.

Many of the non-materialised ideas and connections are 'right under our noses' in the business world. In other words, you are surrounded by untapped solutions that can dramatically increase your income, leverage, influence and success!!!

The question you must ask yourself is, "do you see them"?

Very simple ideas and connections can quickly develop your and your organisations ability to better lead, communicate and sell in totally ethical, respectful and honorable ways.

EffectiveCommunication.com.au helps to uncover hidden assets, opportunities and possibilities that are not producing maximum results.

Here's one simple idea:

There are only 3 ways to successfully increase your business. Yes, three.

Increase your number of clients

Increase the average value of each sale per client

Increase the number of times your clients return and buy again

As a business leader, it's significantly less daunting for you to focus on and develop these 3 criteria. It's so easy that you should take a look at this simple example:

Calculate your current number of clients
Calculate the average value each client spends per sale
Determine how many times these clients purchase from you per year

By way of example, let's say you have 1,000 clients who average $100 per sale and purchase 2 times per year.

1,000 clients x $100 per transaction x 2 transactions per year = $200,000 total income

Now, look what happens when you improve these 3 criteria by just 10%

1,100 clients x $110 per transaction x 2.2 transactions per year = $266,200 total income

Wow, a mere 10% improvement in these 3 criteria increases your income by 33.1%

A 25% improvement in these 3 criteria almost doubles your income to $390,625. Yes, almost 100% additional income!!!

By focusing on this idea alone is one small way organisations improve by increasing income by 20%, 50%, 100% and more.

This simple geometric growth formula works equally as well with non-financial goals. For example, peak performance sports coaches break down every element of a game and it's plays into an identifiable process. They then rate the team per element based on a scale of 1-10. Then by simply focusing on 2 or 3 elements to improve them by only a small percentage produces exponential, compound impact and results.

So you see this simple idea and concept works for business, sports and every area of your life when applied.

Look out for our next newsletter titled 'WHAT IS YOUR FLIGHT PLAN FOR BUSINESS GROWTH? - Part 2'

In the mean time, if you would like to discuss how to improve your organisations capability in the areas of Leadership, Communication, Presentation & Sales then simply contact us for a complimentary, no obligation conversation.

Go to www.EffectiveCommunication.com.au to find out more

CLIENT TESTIMONIAL

"In my capacity as Building Manager within the Leighton Holdings Group I have been associated with EffectiveCommunication.com.au (EC) since early 2004.

I involved EC with our Westmead Hospital team in a High Performance Team Workshop to better align our project objectives to the performance of each key staff member. This was a critical process as the project team was relatively new.

Accountability Maps were created against each identified objective. The outcome was the creation key performance communication indicators stating the involvement of particular members of the team. We are monitoring this process quarterly to ensure we achieve what we agreed.

The process that EC put us through in preparation for the Westmead Hospital Workshop assisted in making sure the day was successful. I have since used this process and EC's input on our 100 Pacific Highway (a commercial high-rise development) project.

I know some of my staff could not have communicated their input on the two examples above without the preparation work EC put them through leading up to the workshop. EC are retained on an ongoing basis to conduct training for our business and to assist on individual assignments as required. I highly recommend EC to future clients."

Steve Holden - Building Manager

Posted in Adelaide, Brisbane, Communication, Leadership, Melbourne, Perth & Canberra, Presentation & Sales workshops courses & training in Sydney by effectivecommunication.com.au

Monday, January 21, 2013

STAND OUT WHEN COMMUNICATING & PRESENTING WITH EXECUTIVE LEADERS

Connecting with Executives doesn't happen automatically.

Understanding what is important to them and learning how they think is of the upmost importance.

For more than ten (10) years that EffectiveCommunication.com.au has served multinational organisations and their leadership. Here are some of the comments Executives have shared as to how you can stand out and make a difference.

A lack of preparation is always obvious

Executives stress that preparation is critical. Their advice is to do your homework thoroughly. Understand what is going on in their world / business right now.

Tip: Learn all you can by about the Executive leader by talking to mutual contacts, check the Internet, check for press releases or analyst reports etc.

If you want to play in my sandbox, you cannot seem nervous

You must look, sound and act confident. The Executive will hesitate or delay if your body language does not back up your message.

Tip: Practice your conversation ahead. Make sure your posture is open and you lean into the table. Be sure to sustain eye contact for a full sentence or thought. Pause for a breath at the end of your thoughts. Envision your success!

Set the context for the meeting. I may have forgotten

The Executive has a lot on his or her mind. They may have forgotten the purpose of the meeting so be sure to define the issue and its impact.

Tip: Executives appreciate knowing what you ultimately want them to consider. State your "ask / outcome" upfront.

Be brief and then be gone

Executives have a lot on their minds. They run from meeting to meeting. Time is very important to them so get to the point quickly. Do not go into unnecessary details. If there is an analytical base that is necessary, email it to them in advance for review.

Tip: Focus on what the Executive needs in order to make a decision. Have any supplemental information, charts, graphs, extra slides etc. at the ready.

More words are not an indication of more thought. Often, it is just the opposite

Keep your points simple. Do not over-talk an issue. Be very concrete and very specific. The simpler your points, the easier it is for them to make a decision.

Tip: Executives always want to know the risks and the scope of the opportunity.

I appreciate just having a conversation. I am not a fan of big slide decks

If slides are not critical, do not use them. Slides that are your speaker notes diminish your impact. The more slides you have, the more things can go horribly wrong.

Remember, anything that is on the slide is open for discussion. Your slides must tell a complete story. Executives hate when they have to dig to find the story.

Tip: Your transition statements from one slide to the next are critical. They provide context for what you are about to say.

Expect pushback

Executives don't want to make a mistake. They typically will have questions or need more information to help them decide. You should not be thrown by questions but rather view them as an opportunity to demonstrate your conviction or commitment to an idea. They are not trying to trap you or derail you.

Tip: Make a list of the questions you think the Executive will have ahead of time and determine how you will answer them.

Try to figure out what is key to the decision. That is where the bulk of the questions will come.

Making an Executive connection takes time and effort. Your Executive level conversations and presentations are a moment of truth. If you do a good job, you advance your cause and the perception of you as a leader. If you do a poor or mediocre job, you fall into the abyss.

All the best with your future communications and presentations with Executive leaders!

Posted in Business presentations, Conference presentations, Facilitating meetings, Presentation skills training, Public speaking, Sales presentations by effectivecommunication.com.au

Tuesday, December 4, 2012

HOW INFLUENTIAL ARE YOU WHEN COMMUNICATING & PRESENTING?

No matter how good your products and services, people will only be interested to the degree your organization and you demonstrates influence.

Robert Cialdini, author of ‘Weapons of Influence’ & ‘The Psychology of Persuasion’, is a leading expert in the area of influencing.

In Robert’s books, he identifies critical principles that generate desirable change. Below are the 3 key points.

To be influenced during your communications and presentations, your audience must:

1. UNDERSTAND YOUR ARGUMENT

You must be logical and insightful. Everything has to add up.

The points of your ‘Argument’ should be easy to follow, especially if the audience needs to make a change, such as discontinue a campaign or revise projections etc.

The language you use must be clear. You cannot leave audiences wondering what you mean. For example, "The fire communicated to the next building." (Does that make sense to you?) Or, "The ideology is for an uptick baring further devolvement of the economy." (What does this mean?)

Finally, if your audience is to understand your ‘Argument’, you must be concise. Burying your points under unnecessary information will work against you.

2. ACCEPT YOUR ARGUMENT

People will accept your ‘Argument’ if they see it as consistent with the direction they are already following or the commitments they’ve previously made.

Audiences are more willing to take a recommended action if they see evidence that others similar to them are following your suggestions. This is why testimonials, examples and case studies are a MUST!!!

Finally, audiences will be more open to accept your ‘Argument’ when you provide proof from credible sources, which are very easy to gain from the internet etc.

3. TRUST IN YOU

People prefer to invest in and say “yes” to those who communicate and present with confidence.

History has also proven that people invest in and say “yes” to people they like. Thus, it is essential you develop genuine rapport. You can't take an existing relationship for granted!

People also trust those to whom they attribute relevant authority or expertise. Obviously, if you have ten years or more of experience in your field of business, you will be seen as an expert. However, if you are new to your field or organization, then simply use the collective credibility of your organizations history, people, success etc.

Lastly, people trust those who go out of their way to provide products and services ‘above and beyond’ what is typically delivered therefore, what more can you do?

Influencing others can seem daunting, but when you pay attention to these 3 key principles, it is easier than you think!

All the best with your future business communications & presentations!

Posted in Business presentations, Conference presentations, Facilitating meetings, Presentation skills training, Public speaking, Sales presentations by effectivecommunication.com.au

Tuesday, October 16, 2012

ARE YOU TRUSTED IN BUSINESS?

Being a Trusted Advisor in the eyes of your clients is the Holy Grail.

Being a Trusted Advisor is what you must be when selling products and services.

It takes time and perseverance to develop such a relationship, but the rewards for both parties are enormous. However, be aware there are some things that will erode the relationship. Assess what follows to insure you are doing nothing that puts this all important relationship in jeopardy.

1. Telling Is Not Selling

Lead, but don't tell. Nobody likes to feel you are the parent telling them what to do. People respond best when you involve them in determining an action plan or next steps. Their preference is for you to give them strategies on how to think or decide. Ultimately, it is up to the client to choose.

2. Accept Blame

If things go wrong, perhaps with a delivery or an install, take ownership and do not become defensive. Concentrate on what can be done to resolve the issue and never, never lay blame.

3. Focus On A Win Win Outcome

While people want a subject matter expert, they don't want someone only focused on the end game. It will erode the relationship. Remember, it's not about you; it's about them!

4. Demonstrate Your Expertise Is Based On A Professional Network

You are not Yoda, so relax. If you don't know the answer and you're the subject matter expert, admit it or use your network.

5. Listen More Than You Talk

It's easier to say you are a good listener than to be one. The number one skill for being a Trusted Advisor is good listening skills. The client should do most of the talking, not you. Try not to fill blank airtime.

6. Stimulate Imagination

Of course, ask questions but ask questions that get the client to think. A constant barrage of "fact" questions will not engage or help people to envision a new way of thinking.

7. Watch The Person's Reactions

Any changes in your client's body language or voice should be duly noted. If you see them looking perplexed or if you see their body language getting rigid, be sure to make adjustments in your body language; Lean in; Be more affirming; Smile.

8. Show Empathy

People need to see you care. Validate their issue or problem with a statement such as, "That must have been disturbing." Or, "I am so sorry that happened to you."

Even a simple nod or sympathetic smile can mean a lot to a person when they are stressed. If you feel something is bothering your client, pay attention and acknowledge what you see. "From the look on your face, I can see this is difficult to discuss. Am I right about that?"

9. Call Back

When there is a relationship, the client expects you to return phone calls quickly. Even if you don't know the answer, be sure to return the call, instead of waiting. Any update means a lot.

10. Avoid Being Distracted

Today's multi-tasking world makes it difficult to feel it is okay to do just one thing at a time. Your client expects you to focus only on them. Never glance at email, take a phone call or watch people in the hall. Your client will not feel valued and will become annoyed.

11. Be Interested

Reach out to your client throughout the year for other than the sale. Send articles or whitepapers. Notice any trends in their industry. If you see their name in the paper, do send a note.

12. Diagnose Based On Correct Assessment

It is easy to make quick judgments, but resist the temptation. Wait until all the information is in before making any recommendations.

These twelve tips are essential tips for being a Trusted Advisor. These principles will give you the pole position when your prices are not as competitive as others. And, you will be too valuable to lose as long as you remember what is important.

All the best with your business!

Posted in Business presentations, Conference presentations, Facilitating meetings, Presentation skills training, Public speaking, Sales presentations by effectivecommunication.com.au