Category: Promotion

Not Doing your Homework – Part 1

Let’s examine five opportunities for improvement that you can experience that could challenge a deal with a client:

  1. Not meeting the client’s expectations:
    1. Why?  Did you not do your homework or do a thorough discovery process?
    2. Did you not include the proper individuals or departments?
  2. Mishandling a client crisis:
    1. If you need a subject matter expert to compliment you—get one!
    2. Again—preparation is key!
  3. Taking on more than you can handle:
    1. Make sure you bring the resources with you that you need, and identify gaps and fill them with the right mix of expertise for you to be successful.
    2. Make sure you are always ready to “Go big or go home.”  Make sure you have the financial resources on hand for elasticity in a deal—there are always other options for your client to move on to a more accommodating provider.  If you can’t say yes, someone else will.
  4. Putting all your eggs in one basket:
    1. Keep taking the temperature for ALL of your clients—they all add up to your bottom line, and provide you valuable referral opportunities.
    2. Look for value-add opportunities with your large clients that doesn’t necessarily take up additional calendar time or cost.
  5. Up cash creek without a paddle:
    1. A large client can max out small company resources pretty quickly.  Make sure you evaluate possible outcomes and how gaining that client can stress your company’s capabilities.
    2. Many times, it takes money to make money—be prepared for growth and accommodating these types of clients.

Any one or combination of these can not only kill the partnership, but have the ability to take down your company as well. We’re going to take a bit of time to talk about each one of these, in this lesson we’ll cover the first two.

Not Meeting Client’s Expectations

It’s essential that you give your client’s exactly what you promised during the negotiation portion of your relationship. If an unexpected event does happen where there is no way to meet the client’s expectations, not only do you have to find a way to fix the situation, but you also have to find out where it all went wrong.

At the very least, a couple of things could have contributed to this problem:

  1. Bad salesmanship– This could mean the salesperson was trying too hard to seal the deal and didn’t listen to the client’s needs.
  2. Lack of communication– This breakdown occurs between the salesperson and your operations department with the actual deliverables.

In order to avoid these mistakes, you need to put a clear plan of action into place that all of your sales staff needs to follow:

  • Think before you speak.
  • Give yourself a break.
  • Perfect your process.
  • Pre-format over-deliverables.
  • Stay hands-on throughout the entire process.
  • Define success.

Mishandling a Client Crisis

A crisis will happen, but how you respond and mitigate them will define your company and your ongoing interactions with your clients. You need to respond quickly and effectively. This will help you gain even more trust and confidence from your client.

Some simple tips can help you deal with any client crisis:

  • Take leadership responsibility no matter who is at fault.
  • Act swiftly and effectively.
  • Step in and take control of the situation, where applicable.
  • Never point fingers or place blame.  Grow together with your client!
  • Stay in constant communication with your client.
  • Stay calm throughout the situation.
  • Keep your eye on the ball.  Don’t move on from a situation until it is resolved.

Now, that you know the top two mistakes you can make to kill a deal, you’ll know better how to avoid making these mistakes in the first place and know how to put a plan of action into place in case of a crisis.

If you need help with any of this, try our GUIDED TOUR to get all the help you could ever need.

https://ascensionbusinessacademy.com/guidedtour

Who’s Your Most Appropriate Sales MVP for the Job at Hand?

In the last post, we talked about making first contact with your prospective clients and how to make a positive first impression. In this post, we’re going to talk about feeling out the personality of your prospective large clients to match them with the appropriate salesperson.

You need to do this in two steps:

  1. Profile your salespeoples’ personalities.
  2. Match the right salesperson to your target prospects.

There are essentially three different selling personalities:

  • The Sage
  • The Pal
  • The Pit Bull

The Sage

This salesperson offers knowledge, experience, comfort and trust. They can make a concerned customer feel at ease. In order to be successful, they need plenty of information, a demo of the product/service, and references and case studies, if possible.

The Pal

Much like it sounds, this is a salesperson that shines at building relationships. They can instantly relate to the prospective client and make them seem like old friends in no time. They work best with clients who are looking for friendship, information and are in a similar peer group as the salesperson. This can include anything from age and culture to hobbies and nightlife. While, sharing experiences can be beneficial to creating a new relationship, your salesperson must always keep it professional and dignified. The resource’s this personality type needs is help in pairing with the right client, entertainment budget and the appropriate and timely information to meet the client’s needs.

The Pit Bull

Obviously, this personality type is a little more aggressive than the others. They are all about business and the bottom line. While this may seem harsh to a lot of people, there is a set of business people out there that want the same thing and respect someone who can get down to business and the benefits of a partnership. This salesperson will need to be trusted with a little authority as they will likely be closing deals on the spot. They’ll need plenty of resources and access to products and services. They are best placed in environments where they can work independently, exercise their authoritative discretion and seal deals quickly.

These can all be successful when each is used in the right selling environment. You can easily see how matching the right salesperson for the client can secure more large client wins and for a longer period of time.

If you need help figuring out which of your salespeople fit into these three areas, try our GUIDED TOUR and work with one of our amazing coaches to get your big fish plan in action.

https://ascensionbusinessacademy.com/guidedtour

Becoming One With the Big Company Mindset to Win Big Clients

In the last post we started our series on acquiring larger clients that will sustain your business over the long run. Today we’re going to take that a step further by talking about how to understand and think and conduct your business like a “large client” company and how that can help you plan your approach and find success.

Before you can start the process of landing these types of clients, you have to make sure your entire team is onboard with your approach and vision. Here are six key ways to finding big client success. They are:

  1. First Impression: You must remember you sometimes have one shot to land a large client. If you make a mistake, they are most likely not going to consider you again. Never give them a reason to doubt your abilities on that first call.
  2. First Priority: Your large prospect must always feel like they are your first priority. Return their calls and emails immediately and find solutions to their problems or questions as quickly as possible.
  3. Be flexible: You need to be flexible in your negotiations. If they need a special service or have a need for you to customize a product or product bundle, then simply accommodate them for the benefit of the long term.  A little hassle now will be a big pay off later.
  4. Long-term: This goes along with the last one a bit. As you are approaching and negotiating with large prospects you need to think about the long-term benefits for your business. If you go for a one-time big score you will lose their interest.
  5. Have Fun: Work should be fun, even when trying to land big clients. In fact, this should be the most fun. You are sharing your vision with new people and including them in your future success and likewise. People simply work better in a fun, happy environment. Your passion will also be contagious and acclimate your larger clients into your vision even more.
  6. Help Them: If you take just a little bit of time and offer your clients ways to save money or time by introducing them to potential business partners, this will show you really are invested and interested in their business. Strive to find balance between your business’ needs and your client’s needs.

There are also a few tactics you can use to bring in a big-company vision to the people on your team. You can:

  • Post these six keys for all to see.
  • Put together a performance-based incentive program.
  • Conduct frequent team meetings.
  • Use a “right now” policy that dictates high-priority client calls be answered immediately and handled with urgency.
  • Offer awards/recognition for big-company ideas and executions.
  • Put together a training and certification program based on the six keys above.

 

These six keys and tips will help you instill a big-company mindset throughout your business which will help you be more prepared and more likely to land the larger clients. Once your team is thinking this way, you’ll be unstoppable.

If you need help putting together an incentive program or other way to push your team toward the big-company mindset, try our GUIDED TOUR to work with one of our coaches or check out our resources and tools.

www.ascensionadvisingsolutions.com/guidedtour

Lessons I Learned from Paris Hilton

Today we’ll talk about shameless self-promotion. That’s right, I said it! Shameless! After all, we are learning from Paris Hilton here.

It’s all about self-promotion! Self-promotion comes in many forms and you can use different tactics to get your name out there. Look at politicians! Talk about self-promotion and in some not so discreet ways, at that. But, seriously, consider some of the major superstars we all know. Madonna, Donald Trump, Howard Stern and Bill Clinton, just to name a few.

We all self promote. Did you raise your hand in class to show the teacher you knew the answer? Of course! That’s self-promotion. This is the kind of self-promotion we are talking about. With dignity, class and the knowledge to back it up. If you self-promote only to prove you don’t really know what you’re talking about, you’re going to lose business.

Natural self-promoters are the former and I want to tell you about the three major traits they have and use to build themselves and their businesses.

  1. The first is position. You need to position yourself around people who can make a difference in your life. You need to do this frequently. You need to wake up every morning and ask yourself “Who can I meet today who will make a difference in my success?” In fact, go a step further, write it in big, bold letters and tape it on your bathroom mirror.

Also consider:

Who can help me meet my goals?

Is it a prospective customer/client? A colleague with contacts? An association with key members who may become prospects?

Don’t settle into interacting with the people who are the easiest to access. You need to reach outside your comfort zone and there you will find a wealth of new connections that will bring you great success.

  1. Now, let’s talk about Style. No, this doesn’t mean you need an Armani suit to bring in more business (though, let’s be honest-it wouldn’t hurt) ☺ What this really means is how are you different from your competitors and others in your industry. What makes you memorable with customers?

If you are meeting a lot of people and they don’t remember you once you leave the room, you have a serious problem! This means you have an opportunity to present yourself in a more memorable way.

There are lots of little subtle changes you can make. Reassess your:

  • Business cards
  • Company message
  • Your picture
  • Your wording

Maybe even, your hairstyle (of course, now we’re back to the expensive suit, but it really works!)

You get the idea. There are lots of little ways you can work on making your image and business more successful. Also, consider how you sound on the phone and how you great people at meetings or other events. Think about your 30-sec elevator speech.

  1. The third trait of natural promoters is repetition. You can’t say it once and leave it at that. Successful self-promoters say it as many times as they need until they get a response. Would you remember a commercial for Coca-Cola if you only saw it once, no! You see it over and over and eventually you head out to the store.

You, also, have to make multiple impressions on those you are networking with in order to build brand awareness. Repetition is in direct connection with positioning. Once you find people to network with, reach out and find hundreds more who can help in your success as well.