While the elevator pitch isn’t actually used in elevators (although it could be), the name alludes to the fact that it should ideally take about the same amount of time as a typical elevator ride.

The basic idea of the elevator pitch is to give potential customers an idea of what your business does, why it does it better than your competitors, and how you can translate your past successes into future benefits for them.

Keep it Updated

It’s essential to keep your elevator pitch updated as your business changes, and as your role within your business changes. You wouldn’t air the same commercials year in and year out, would you? Neither should you use the same sales pitch to clients from year to year.

Related to this is the importance of tailoring your speech to different groups of customers. While one subset of customers may care more about the potential cost savings afforded by your product or service, another group may be much more concerned with effectiveness, quick delivery, or any other aspect of your business. Stress the parts of your business that are most likely to appeal to the customer you are currently pitching to.

Nail the Delivery

Like with any kind of face-to-face sales, the key to your elevator pitch is in the delivery. You only really have one chance to delivery your pitch perfectly, which means that you have to understand your customer and understand what they are looking for.

Even more importantly, you have to make your pitch relevant and exciting. Open with an appeal to emotion, with a surprising statistic, or with anything that will catch your potential client’s attention and get him engaged. Once you’ve done this, you  can move into statistics, or the nuts and bolts of what benefits they stand to gain by using your product or service.

Above all, be confident. If you aren’t 110% sure of your product, then nobody else will be either.

Keep your elevator pitch relevant and updated, and when you get a chance to use, make sure that your delivery is perfect. In this way, you can make sure that when you get a chance to speak with a potential customer, you can bring them in every time.

Happy marketing!

Sean

Sean McPheat

Marketing Consultant – Sales Expert - Motivational Speaker

Discount Gift Bags

One of the more common offerings for gift bags is to package together several different items and offer them all at an incredibly low price.  You might even take a loss on those items, but as long as the base purchase of items at full value is met the loss is over taken by the sales.  For example, if you package a gift bag that has retail value of £50, your cost is probably no more than £25.  If the gift bag is offered for free, then it would need to be given out only with purchases that exceed £100 at retail cost.  This should then leave your store with a profit of approximately £25 on each sale.  Another option would be to charge a minimal fee for the gift bag.  If you charge £15 for a bag worth £50, but only if consumers make a purchase of £100 or more, you still stand to make a profit of £40.  This is only an example and your numbers and price points may vary, but you can see how this could improve your holiday sales.

Future Sale Gift Bags

The other way to use gift bags to your advantage is to offer them to customers with large purchase amounts.  However, instead of filling the gift bags with items that can be used immediately include samples and coupons for future purchases.  Samples are a great way to allow customers to try out products before they make a purchase.  You should already have samples for many of your products on hand.  This makes it easy to add coupons and cute packaging to come up with a give-a-way that customers will enjoy.  When you let a customer know that spending an additional £5 will save them £20 next week, they are more likely to go ahead and spend the extra money now.  They may or may not ever use the coupon, but you gain the immediate up sale.  Of course, do not forget to personalise your gift bags, as they can act as additional advertising.

Happy marketing!

Sean

Sean McPheat

Marketing Consultant – Sales Expert - Motivational Speaker

It seems like one of the big marketing pushes today is offering customers loyalty programs or rewards programs.  You are probably familiar with them.  Stores ask consumers to provide contact information and then consumers are given a store reward card to present every time they make a purchase.  These cards might allow the customer to partake in sale prices or earn rewards points.  Over time if the consumer spends enough money they might receive store credit to spend on whatever they wish.  The real question is this:  Do these programs actually drive customers through the door?  Would people be shopping at the specific shop without the rewards programs?

Often, the answer is both yes and no.  In some cases the rewards program can bring in customers, depending on how it is structured and advertised.  In other instances the reward card does nothing to bring in consumers.  If you are considering adding a rewards program for loyal customers keep the following in mind:

No Deal is No Deal

A sale that isn’t, is more likely to annoy customers than anything else.  If you are offering loyal customers a sale opportunity that you market as a special price for loyal customers, then it is important not to give it to anyone else.  If rewards card holders see non-card holders getting the same prices, they lose faith in your advertising.  Also, if you have free give-a-ways along with a purchase to rewards members, make sure that there is a large enough quantity not to run out early in the day or in the first few days of the promotion.  While customers that are arriving at the end of the day may understand if you run out, someone there only a couple hours after the shop opens will be less understanding.

 Make it Worth Their While

A rewards card can serve multiple purposes, but one of the most important is visibility.  Every time someone pulls out their keys or opens their wallet they will get a reminder about your shop.  However, if they don’t realize any benefit to carrying your card, they will stop.  After all, why carry around something that never does any good.

Don’t Be Seduced By Technology

The shiny and new is always attractive, but for loyalty rewards programs it is not necessary.  Traditional punch cards that show how many times a customer has visited in a given time frame can be just as effective as the sleeker cards issued by major corporate shops.  For the small business person, those types of rewards programs are often not worth the expense.  A traditional buy 5 get the 6^th free is just as effective as the point building models, in many ways more so.

Happy marketing!

Sean

Sean McPheat

Marketing Consultant – Sales Expert - Motivational Speaker

Getting rid of unprofitable clients, of course.

Getting rid of them? Yes. That’s what I said. You don’t have to renew contracts with clients who are more work than they’re worth and you don’t have to sell to prospects who are looking to bleed you dry.

You don’t have to do it.

Ever. Even if you’re struggling to meet your sales quota for the month.

The truth is that – again – you need to have faith in your product and your price. Clients and prospects may nag you for a lower price, or for more services than you’re offering, and you should take that as a sign. What kind of sign? A sign that these clients are going to cost you more money than you’re going to earn from working with them.

In business, it is completely acceptable to draw this conclusion. Clients who have no respect for your product or price have no respect for you. They’ll call you regularly, expect top-notch service for the low price you’ve agreed to, and they’ll eventually eat at your motivation to succeed until it’s gone.

Completely gone.

Your short-term goals will become destroyed because you’re too busy servicing someone you compromised with. You’ll no longer have time to focus on making new sales or upselling current clients. Your long-term goals will shortly follow.

Destroyed.

Do you want that to happen to you?

If not, take action. Don’t beg your prospects to take your business. If they demand a price that is too low, walk away. Don’t let your current customers walk all over you. If they do, raise their prices upon renewal and let them walk if they don’t like the price.  Let someone else deal with the headaches.

Seems harsh? You’re in business for a reason. You have goals for a reason. In the end, you do have to provide the best customer service possible – but not if it means sacrificing your success – your motivation – your time to do so.

Be successful!

Sean

Sean McPheat

Marketing Consultant – Motivational Speaker – Sales Expert

Do get distracted? Stare out the windows? Generally go on auto-pilot until 5pm comes and you can go home?

What about during the winter months when snow storms cripple parts of the country (or parts of other countries where you may have business)? Do you write off your clients until the weather gets better or do you take advantage of the opportunity Mother Nature is giving you to reach out?

Inclement weather should become not a deterrent but an encouragement. Pick up the phone, call your clients, and ask them how they’re doing. Find out if they need anything from you (and don’t try to push a new sale, either). They may need one of your services or they may be sitting in the office catching up on paperwork, taking advantage of the quiet that usually comes with a storm.

They may actually have time for you.

They’ll not only have time for you but they’ll appreciate the fact that you were thinking of them. You’re building relationships, one step at a time. The stronger your relationship the better your odds of keeping that client when contract renewal time rolls around!

Is it snowing where you are? You’d better pick up the phones!

Sean

Sean McPheat

Marketing Consultant – Motivational Speaker – Sales Expert

So what can you to do improve the relationships you have with your current clients – to ensure they become and remain loyal to you? here are a few things to consider.

1. Be consistent in your communications. Don’t harass your clients when it’s time for contract renewal and then forget about them for the rest of the year. Make a conscious effort to honestly and respectfully make contact throughout the year. Offer your services and make sure they’re happy with what you’ve been offering.
2. Build personal relationships with your customers. Ask about their families, children, and hobbies. Connect with them on a personal level. They’ll appreciate your interest and you might even end up with a new friend.
3. Ask your clients for their opinions. Let them know you care about what they think and make sure you respond to their questions and concerns. If they know you care they’ll be more likely to a) stay with you and b) refer you to others.
4. Design a client loyalty program. Give your long-term clients thank-you gifts for staying with you after they’ve hit certain milestones. And, please, make sure you mail every client a thank-you of some sort after signing an initial contract or making a renewal deal.
5. Share valuable information with your clients. Have you read a book or seen a special that someone you know might benefit from? Lend the book or recommend the show. Your clients will appreciate knowing you were thinking of them.

Remember – it costs a lot less to retain a current customer than it does to sell a product to a new one. Retain the customers you have now and you’ll always be one step ahead of the game!

Sean

Sales Expert - Marketing Consultant – Motivational Speaker

In order to do so you’ll need to make contact with them regularly but, contrary to popular belief, you should touch base in between regular sales calls. No one likes to hear from their company representative only to hear a sales pitch. You’ve probably spent a decent amount of time talking to your contacts. Drop them a line occasionally to ask them about their kids, jobs, and lives. They’ll appreciate the personal touch your “working friendship” brings.

You’ll also want to keep track of the anniversary dates of your clients – aka the dates you first made contact. If you’ve had a client for a few years you might want to acknowledge them by sending a quick note of thanks. If you’ve reached a major milestone, like a 10th or 20th anniversary, you may want to do something a little nicer – like sending a gift basket to the office for the staff to share.

Adding a personal touch to your relationships will go a long way in yoru customer retention process. You don’t have to shower your clients with expensive gifts or fancy dinners but you should acknowledge that they exist. If they’re ever faced with another option they’ll remember how well you’ve treated them.

Sean

Sales Expert - Marketing Consultant – Motivational Speaker