You’re almost 20 days into 2010 and I have a question.

Have you taken the time to review your current book of business to determine which clients you’re going to get rid of this year?

Yup. I said it. Which ones are you going to fire?

The truth of the matter is this. At least 10%, if not more, of your book of business is not profitable. If you’re like everyone else in sales, you probably have a handful of small clients who call you every other day demanding your attention, sucking your customer service team dry. It costs you more money to service their accounts than you’re actually making. Maybe they’re slow pay accounts that can never seem to keep up with their bills but still demand your time.

But how do you fire a customer? It’s simple.

Raise their prices.

They’ll respond in one of two ways. They’ll accept the price increase (thus becoming profitable) or take their business elsewhere (in which case you won’t be upset anyway).

Make sure you draw clear customer service lines when you make those price increases, too. Clarify exactly what your clients should expect to receive and make sure they understand that additional services beyond their contract will come at additional cost.

Don’t be afraid of getting rid of unprofitable clients. Lightening your load will actually relieve a lot of pressure and will give you the time and energy you need to chase after more profitable accounts.

Good luck!

All the best

Sean

Sean McPheat

Marketing Consultant – Motivational Speaker – Sales Expert

What am I talking about when I ask about your “unique selling points?”

If you have to ask yourself that question than you have some serious work to do before you can go out and begin selling your products or services. A product without a unique selling point is – well – just another face in a sea of products.

A unique selling point, also sometimes referred to simply as a USP or unique sales proposition, is something that sets your product apart from the crowd. It makes your product special. It makes your product seem better than the ones put out by your competitors.

Here are some examples of unique selling points:

• Your product is of the same quality but has a significantly lower price tag than the ones sold by your competitors.
• You are able to produce a smaller (or larger, depending on the product) version of the product, making it easier or more advantageous.
• Your product might have extra features or functions that your competitors are not able to offer.
• You may have the ability to give your customers a wider variety of aesthetic options (color, etc).

These things may not all seem significant but when a consumer is looking for the “perfect product” to add to his collection they are all things he’ll consider. Knowing what your unique selling points are will enable you to target specific audiences and, in turn, increase the liklihood of making a sale.

Take the time to learn about your products. Otherwise, you’ll simply be grasping for straws!

Sean

Sales Expert - Marketing Consultant – Motivational Speaker

Let’s assume you’ve just entered your favorite store to buy a box of widgets. You reach the widget aisle and realise that there are five or six different brands, each with different functions. Some even include extra benefits and perks, like extra widgets in the box or an unrelated prize you can add to your collection. Some of the boxes with “extras” cost less than the ones without.

Which one are you going to purchase?

If I were you, I’d buy the box of widgets offering 2 for the price of 1 and an extra free storage container. That’s great for you as the consumer, but how does your choice impact the bottom line of the widget manufacturer?

No matter how you spin the tale, the reality is that it costs money to give things away. You may be branding yourself as the company willing to “give” but are you really going to make a profit or keep that customer when the “free stuff” is no longer offered? Or will they then move onto the next manufacturer offering a bigger box at a lower price?

The theory applies no matter what type of service or product you are selling. Many salesmen tend to add additional products, services, or “perks” when they see their prospects hesitate. They think that throwing additional services into the package will encourage the prospect to buy.

Well, they’re right.

But what they don’t realise is that the more they give away for free the less they’re actually earning.

Make sure you are listening to your prospects and getting a good understanding of the reasons they are hesitating. Asking the right questions may give you the power to overcome an objection without destroying your bottom line.

Think about it.

Sean

Sales Expert - Marketing Consultant – Motivational Speaker

If you were to sit down today and rate yourself as a sales person, how would you rate yourself? Successful? Moderately successful? On the way? Struggling? A complete failure?

Did you classify yourself as one of the latter? If so, it’s possible you’re holding yourself back.

Yes. YOU. Holding yourself back.

There are six important things every successful salesperson needs to do in order to ensure his own success. Here they are:

1. You need to take some time out to visualise yourself as a successful person.
2. You need to maintain a positive mindset and thought process.
3. You need to be proactive in your approach to sales and marketing.
4. You need to be willing to analyse the things that are limiting you and your chances for success.
5. You need to make sure you are associating with positive people.
6. You need to take care of your own physical health.

The key component here is, obviously, you. The way you view and treat yourself will have a huge impact on the way you approach your career.

Take a few moments now to review these six items. Are you addressing each and every one in your own life? If not, it’s time to make a change. You won’t regret making time for yourself.

Sean

Sales Expert - Marketing Consultant – Motivational Speaker