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Management Information |
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How To Decrease Profits Without Really Trying
Hurting your sales efforts can be accomplished easily with the proper guidance. The following effective yet simple ideas are designed to generate results when implemented into your sales strategy. ? Don't listen to what your clients are saying. You are the expert and prospects should be happy that you have been able to set aside some time for them. Spend your time talking more than asking questions and listening. Try to not answer as many of their questions and concerns as possible, this turns the focus away from you and on to the customer. Above all keep talking up the features of what you are offering as one of them may somewhat meet the client's needs. ? Don't target your customers effectively Selling is a game of numbers although some odds may be higher than others. To that end remember each lead is as good as another. Dealing only with qualified and interested prospects increases sales, revenue, and profit ratios but cuts down on prospecting time, prospecting of course being the name of the game. Kudos to whoever realized that prospecting should be 75%-80% of your career and actually selling should be 20%-25%. This may seem backwards and counterproductive if you really examine this formula but the founder of this principle is a genius I am sure. ? Work towards improving your situation and not the client's Listen, you wouldn't be in business if clients didn't exchange their money for your services. Knowing that, make as much money as you can from the client in as short a time as possible. Sell them, and then sell them some more regardless of its usefulness to the client. Don't be concerned with the future relationship or business. We can almost guarantee that you will not see this customer in the long term so no time like the present. If their checking account can handle it then have them buy it. It's about you not them. ? Focus on how great you are and not how you can improve the clients situation in some way. Unleash a barrage of information on the prospect regarding your awards, world class customer service, cutting edge this and that, and every other self determined worthwhile achievement that you can think of. If the prospect tries to interrupt with anything resembling a "what's in it for me" attitude pour on some more. They have not been sufficiently impressed by you and are still concerned with what they want, use, and can afford. Sooner or later they will realize that it is all about you and will send you on your way. CONGRATULATIONS!! There is another inflow of revenue lost. You are well on your way. ? Force referrals from clients at inappropriate times Ask for referrals before the client is comfortable with you or what you offer. If they seem reluctant make them feel guilty. Not only are you sure to not receive any referrals then but you will probably not get them at all. ? Think of all customer interactions as battles The more you think of clients as adversaries and less as collaborators the better the chance you have of losing them. One simple exercise is to firmly believe that it is impossible for you and the client to get what both of you want. One of you has to lose in order for the other to win. Organizations that employ this method are realizing substantial revenue loss and client defection daily. ? Make it hard for customers to do business with you This by far is the best, most easily implemented, and widely used method for sales, revenue, and profit degeneration. As this method can take many different routes to the end result you may have already implemented some portions without realizing it. Are any of these already hard at work undermining your organization?
Using any of these seven methods will turbo charge the process of "Going Out of Business" for your organization. The use of more than one increases your chances exponentially. This is an opportune time to evaluate how many of these your organization uses everyday. Remember the more of these you use the faster you get results. Lowered market share, lost revenue, poor sales performance, and unhealthy profits are easily realized with this model. About The Author Kennedy C. Rahaman, President of Bluefin Management Consulting, assists sales organizations in accelerating and increasing revenues and profitability by leveraging the resources available within the organization. To learn more about us browse our website at bluefinventures.com. For information on consulting, training, or speaking call 781 341 3998 or email us info@bluefinventures.com.
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