Mar 29, 2010

The Hidden Sales Multiplier.....

The Hidden Sales Multiplier Is...

Many salespeople think, the sales process is finished when the deal is closed; when really it is just the start of the next sales cycle. The things that you do right then will determine whether you’re successful as a sales professional. Here is what I mean; do you want another sale from this contact? Do you expect, or at least, hope to get referrals from them?

One sale, or more than one?

What you do right after the first sale closes will determine whether you get the next one or any referrals. You have just started to build the trust factor in the relationship, and that trust is the key to long term success. As is well known, customers go through three phases once they decide to do business with you.

Initially, they are excited by the decision to buy and want to get started with your product or service right way. Then they go through a learning, or adjustment, curve when they struggle with adopting your product or service into their operation. Lastly, they start experiencing the benefit(s) that you have promised. When this happens the relationship settles and trust builds.

During the learning and adjustment phase, a potentially dangerous time exists; because without an established relationship of trust, your newly acquired customer is at risk to change their mind. This is especially true if any issues arise; even the smallest ones, to prevent them from seeing the benefits they anticipated.

The emotions of a sale

In order to minimize that risk, you need to understand the process of buying from your customers' perspective. Most purchasing decisions have four primary levels that everyone will pass through.

They are:

1. Have the motivation to buy. (desire or need for your product or service)
2. Make the decision to buy (from you or someone else)
3. Confirmation the right decision has been made. (justification and/or fulfillment)
4. Reassurance that the right thing was done.

By placing the order, they have moved to stage two in the buying process. If the confirmation of making the correct buying decision is not provided by the sales person, the chance of "buyer's remorse" increases dramatically; resulting in canceled orders.

You can reduce the risk by improving the post sale part of the sales process with things like:

Testimonials from satisfied customers, increased service levels in the beginning, and most importantly, regular contact. Others ways include the setup, demonstration, or training in the use of your product or service.

Satisfaction of the customer will increase and the sales person’s workload will be lighter, if you have a contact schedule in place. This should include the first thirty to sixty days after the sale, so your sales team knows exactly what to do. This can include site visits, email messages, and phone calls, either prior to or when they receive your product or your service begins. This helps establish a contact frequency at important times and eliminates frustration if problems should occur for your customer. Most importantly, it helps cement the relationship trust that you are there for them.

Seek, from each customer, their preferred method of managing the account. Is face to face desired or will a phone call or email do? We are all different in the way we want to communicate and no one method will work for all. Identify areas the customer feels are vital to them, so that you can pay closer attention to these. Agree up-front how any future problems should be handled. And, always ensure your customer has all your contact information so they can contact you when needed.

Make a perpetual customer

After the deal has closed, send hand-written thank notes so they know you appreciate them and their business. This is a very personal touch that only takes mere moments, yet ensures the customer feels valued and special. The same goes for the anniversary date of them being a customer or their birthday. This will mean more than a Christmas card that gets lost in the mass of others sent at the holidays.

Actively ask questions to check their satisfaction. This can be done with post implementation or delivery surveys, a follow up call after every service call provided. This will help you identify, early on, if their satisfaction is waning or issues have arisen. Again, making them feel like you are interested in, and appreciate, their business. For example, "Was everything as you expected?" "Is there anything we need else we can do for you?" If problems arise, the earlier you know about it the sooner you can remedy it.

By doing all of this, you can be assured the trust has been built into the relationship and they will be more interested in doing future business with you and your company. They will be more inclined to offer referrals, when asked, and most likely spread the good word about your company to all their friends and associates. That leads to more business and money for you!

Name: The Hidden Sales Multiplier.....
Author:  David Brydson