Sales & Marketing Consultant, Bestselling Author & Sales Conference Speaker

Have you been losing business and wondering if it’s because your price is too high?

I beg you to take a step back and take a close look at your book of business before you go tinkering with your price points.

Why?

Because, in most cases, your price point is perfect just the way it is.

Yes, the economy is a bit rough and tumble lately and yes, people are shopping for the best prices whenever they can. The truth, however, is that most businesses are loyal – even during rough times. I urge you to take a look at your customer service team and how they interact with your clients, even if your customer says he is leaving due to price.

In many cases a customer or client will tell you that he found a better price (whether he really did or not) because it’s easier to say than, “I’m unhappy with you because of xyz…” Unless you had a very serious falling out, most customers leave without expressing their concerns. They feel as though it’s easier to move on to another organisation than it is to “cause a conflict” by registering a complaint.

I’ve found through my own research, and have seen several other salesmen recommend as well, that you should not change the way you price your products unless you can objectively prove that you have lost at least 10% of your book of business because of price and price alone. If a customer leaves, do a little digging. Check his file to see what his relationship has been like with your customer service team; call him and ask him if there is anything else you could have done to save your relationship.

Listen carefully to the answers. It won’t be difficult to determine whether or not price was the real issue at the end of the day. If it was – then go ahead and work with your marketing team to alter your price point a little bit. If not, take a step back and figure out how to prevent further losses due to bad business relationships.

Sean

http://www.seanmcpheat.com

As a manager it is important for you to keep in touch with your sales team at all times. One of the best ways to do this is by hosting regular weekly sales meetings. Unfortunately, these sales meetings can easily turn into complaint sessions where your team gets together to lament over the state of the economy and their inability sell.

What you need to do is keep control over these meetings. Make sure your sales meetings are no longer than 30 minutes at a time unless you have a specific agenda or need to address a certain area of training. Make sure your sales team understands that attendance at these meetings is 100% mandatory and that no negative sales talk will be permitted.

As a matter of fact, make sure that every person has a chance to speak at these meetings. Each person should be asked to share one thing they did during the past week that had a positive impact on his sales goals or his relationship with a prospect or client.

Be prepared to praise your employees and then wrap up the meeting by reviewing your team’s sales goals and what you need to do in order to achieve them. Keeping a positive attitude throughout the process will ensure everyone leaves on a high note!

Sean

http://www.seanmcpheat.com

As a sales manager, part of your job is to make sure that you are making an impact on the niche market you are trying to reach. It’s one thing to have a product and attempt to sell it but it is an entirely different thing to have a good product, target it’s development towards your niche, market it effectively, and then make sure it stays relevent.

Before you move forward with the development of your next marketing plan, ask yourself the following questions:

• Do we know who are customers really are and how to reach them?
• Have we anticipated what our prospective customers really need?
• Are the products and services we offer more advantageous to our customers than the ones offered by our competitors?
• Do our products meet the demands our customers have put before us in terms of both quality and functionality?
• Do the products and services we offer exceed the expectations our customers have of us? Ie., do we do our job above and beyond?

The answers to the above questions will give you valuable information to consider while formulating your next product or marketing plan. You’ll be able to use the answers to develop a well-thought out formula for marketing and sales success.

Remember – it’s more effective to know your market and tailor a product to suit their needs than it is to develop a product and then attempt to find a market for it!

Sean

http://www.seanmcpheat.com

There are hundreds – no, thousands – of people roaming the streets today and calling themselves salesmen. The problem is that not all of them are successful and, to be honest, I really think there are some defining factors that make it easy to tell the difference between a “salesman” and an incredible “sales professional.”

So how can you tell an amateur from a professional? It’s simple:

• A professional has a clear objective and knows what outcome he wishes to achieve. He isn’t guessing and changing his mind merely because he is unsure.
• A professional is educated and has a proven method for success.
• True sales professionals are always well prepared for any situation. He can adapt his presentation at a moments notice and still achieve his goals.
• Professionals always carry the equipment and information they need to do their jobs. This is as simple as having a business card on hand to as complex as having a formal proposal or presentation prepared on time.
• Professionals know exactly what they need to do in order to impress their clients. They’ve done research and can effectively modify their presentations.
• A sales professional has the ability to determine who he needs to talk to and at what point he should see that person in order to gain optimal results.
• Last but not least, a sales professional always dresses the part and is NEVER late to an appointment.

Do you display all of these attributes? If not, what do you need to change in order to become a more professional salesperson?

Sean

http://www.seanmcpheat.com