Articles, Case Studies and Valuable Marketing Hints and Tips from Results Corporation

4 things to do immediately when sales start drying up...
Results CorporationResults Report
Strategy Brief 75   Contact Us Visit Us Online Call Us +44 (0) 1933 373000
Haydn Rowe - Managing Director4 things to do immediately when sales start drying up...

The current economic conditions are a fact of life. 

But it's no time to curl up in a corner in the foetal position. 
 
Now is the perfect time to be actively looking at new (or old) ways to turn things around.  Smart players boom in these times.
 
Here are four basic action steps to get sales pumping through your business again.
 
1. Tighten up your sales processes.
 
OK, we rant about this regularly.  But we get to look inside lots of businesses, and I have to tell you ... SALES are being lost every day for the want of some simple changes. 
 
What about when the phone rings with a request for information?  Realise it's NOT a request for information!!  It's someone wanting to BUY. 
 
Organisations are so laid back, they accept sending of a brochure and bland form-letter as handling the 'sale'. 
 
It's NOT. 
 
You need an elite team of trained 'green berets' hungry for sales, who make sure every possible (ethical) avenue has been covered, systematically and consistently, to get the sale.
 
And you need to track what's happening ...
 
What's going on in the business?  In the 'good times', it's so easy to ignore things that make you cringe, and be too busy to do anything about it. 
 
Times aren't 'good' right now. 
 
FIX these things internally that eat away at your market share. 
 
What sort of things?  Customer enquiries sitting for days unattended to.  Poorly worded letters going out, often with grammatical or spelling errors.  That square peg in a round hole person who should never be handling sales enquiries, who is still there. 
 
I could go on.
 
Presenting at a conference recently, I invited a gentleman up on the stage.  Like most of the people in the room, he thought he was pretty good at selling. 
 
But about 45 seconds into our role play (with me as the customer), he was stumbling, uncomfortable and disoriented as to how to handle my basic questions on price and why I should buy from him and not his competitor. 
 
To relieve him of his discomfort, I switched roles.  With limited knowledge of his products, I showed him and several hundred other business owners how easy it is to keep control of the sale. 
 
The whole room agreed this change in approach would work for them.  But up until then, almost NONE of them did these things.  Bottom line, if your 'green berets' aren't seriously honed in the skills to handle a prospect's enquiries, you are losing market share. 
 
And with the "shrinking pie", that's a luxury you simply can't afford.
 
2. Mass Marketing vs Boutique. 
 
I've talked a great deal in the past about 'mass marketing' strategies. 
 
It's time to think about 'Boutique Marketing'.  This is awesomely powerful. 
 
There's a wonderful story about how David Ogilvy arrived in
New York, from the UK as an unknown, and went on to build one of the largest and most successful ad agencies on the planet. 
 
How?  He focused in on exactly which companies he WANTED on his client list. 
 
He wrote a list of the FIVE 'blue chip' companies he wanted to get.  We're talking Shell, Lever & Kitchen, Rolls Royce. 
 
The big guys. 
 
He stuck his list of these five giant corporations on his bathroom mirror.  And every day, would not leave that bathroom until he had at least one initiative to get one of those companies one step closer to being a client. 
 
The rest is history. He ultimately got all five. 
 
You see, when you break your market down into small 'boutique' numbers of prospects, you can bring enormous focus and energy to bear, just on them!   You can 'afford' to stand out and be noticed.
 
Fed Ex a package to the 5 decision makers, find ways to add value to them, create a dialog with them.
 
In tough times and in the 'good times', almost no one goes to this effort.  If you can be a bright star on the horizon for your prospect list, odds are you will ultimately win the prize.
 
3. How many 'dead leads' do you have? 
 
Just like some ancient reptile in Jurassic Park waiting to be reawakened, many of your dead leads may not be dead at all.  Chances are, they're just waiting for someone to come along and poke them into action.
 
One business owner said to me the other day that he has 50,000 unconverted leads in his database!  It's taken the tight times for him to think about re-approaching these people. 
 
What if he can stir even 2% of them into life and they buy from him? 
 
For his business, the recession would be over! 
 
Do you have leads and past client names that are really just dormant, waiting to get a great offer from you?
 
4. Remember 'Shoe Leather'? 
 
I love this story.  One of our clients is a very successful chiropractor. 
 
We've been writing his ads, supporting collateral and client referral and reactivation pieces on and off for years.  But he has just pulled off a coup of his own.  With 'shoe leather' marketing. 
 
No, he didn't go door to door in desperation. 
 
He leveraged himself.  He secured an invitation to go to the local gym, and for a nominal fee, offered to give the members a spinal check. 
 
The result?  Out of ONE visit, he's gained 25 new clients.  A good morning's work?  You bet!  His 'lifetime value' of a client is worth some $4,000 to him over the next four years. 
 
That's $100K in new future business in a morning.  Now that's inspiring.
 
What's the bottom line on all of this?
 
Tough times are not for sitting in an ivory tower and worrying.  They're times when different strategies, including well thought through 'shoe leather' marketing, can pay massive dividends. 
 
May you boom in the 'tight times'.
 
Article by Chris Newton, founder of Results Corporation.
Follow us on twitter Follow us on twitter
Forward This Email
To a Colleague
Forward
Received This as a
Forwarded Email?
Subscribe Online
Contact Us to
Update Your Details
Update Details
Follow us on twitter Follow us on twitter
Results Corporation Europe plc
20 Bentley Court
Paterson Road
Wellingborough
Northamptonshire
NN8 4BQ
Visit Us Online
Email Us
Tel: +44 (0)1933 373000
Registered in England Company No. 3177245. Copyright Results Corporation Europe plc 2011.
All worldwide rights reserved. All media. Not exhaustive.
Your privacy is respected by us. We will not sell, trade or rent your email address to anyone, we only send out high quality information and you can unsubscribe at any time.
This email may contain affiliate or associate links and Results Corporation may receive commissions from any purchases you make on other websites. Please do not rely solely on endorsements contained in this email as your only source of information in evaluating whether to make a purchase on any other website. We recommend that you should exercise due diligence before purchasing from any website online.



Browse by Topic

     

Marketing Foundations

Online Marketing

Converting Prospects

Increasing Average Transaction Value

Increase Purchase Frequency