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Friday, 21 January 2011

It is not ONLY about the Price - 12 key Buyer Motivators


(Finding from the Buyers' Views of salespeople research study- scroll down for link)

Price is important of course but consider these wise words:-

" It is unwise to pay too much, but it's worse to pay too little.

When you pay too much you lose a little money - that is all.

When you pay too little , you sometimes lose everything because the thing you bought is incapable of doing the thing it was bought to do.


The law of Business balance prohibits paying a little and getting
a lot - it can't be done.



If you deal with the lowest bidder , it is as well to add
something for the risk you run and if you do that you will have enough for
something better "
John Ruskin (1819-1900)

Sales professionals wishing to satisfy the needs of a client should understand the underlying motivators; the reasons why a client chooses to buy one product/service over another.

The buying motivators can be generally divided under two headings - Business (rational) motivators and personal (emotional) motivators.

In most buying decisions a sales professional should be looking to find out the buyer’s primary motivation along with any secondary motivators. The precise combination of motives will vary from individual to individual both in terms of their role and their client personality style.

Because of this we need to be aware of not making assumptions as to their prime motivation but undertaking a comprehensive investigation of their needs and wants to establish exactly what they are looking for from the product or service on offer.





To increase your chances of success it is useful for you to be able to appeal to both the rational and emotional factors and not just the rational side; for example, basing your appeal purely on price (gain/saving) alone.








By being able to appeal to as many of the 12 motivators as are relevant and important to your client your presentation will, in turn, be to the point and motivational.( this list is by no means exhaustive there are more than 12 of course)


Thursday, 20 January 2011

Think you’ve got a flair for sales? opportunities for graduates – and where can a job in sales take you

In a live Q&A on 9 December 2010 I had the pleasure in joining the panel for a live Q & A with the subject“A guide to your first job in graduate sales for the on line site Guardian Careers”

( Scroll down for the questions they asked)

The invitation to readers read

”Whether you prefer dissecting - or mocking - the efforts of 'Britain's brightest business prospects' on The Apprentice, it is clear from watching the show that to be worthy of landing the chance to work with Lord Sugar a flair for sales is essential.

After all, whether you are a fan of the series or not, you don't have to look far to see how important sales experience is to getting ahead in business.





Miles Brignall, writing for Guardian Money, said a close look at the profiles of managing directors which routinely feature in the broadsheets will often reveal sales experience on their CV - quite often at the start of their career.




In fact, he said sales experience is almost a prerequisite if you want to be a corporate leader.



It's not surprising then that working in sales is perceived as a strong graduate career choice - and working in this area even acts as a springboard to bigger and better things. According to Brignall, a stint in sales can allow graduates to get their foot in the door of a large organization, which can open up a raft of career possibilities.



So, if you'd like to know more about what is involved and how you can land your first sales role, we've decided to run a live Q & A examining what it takes to break into graduate sales “
Here are some of the questions from undergraduates and graduates :-




1. I'm not 100% sure whether I want to do Sales in the long run, or even if I will be a good Salesperson. Should I commit to a 2 year Sales training scheme if this is the case?




2. I have noticed a lot of CEOs have sales experience. My question is, would you say that if a graduate who doesn't particularly excel at sales is doomed to have a mediocre career?





3. I don't class myself as having an innate ability to sell, but surely given the right training I would be able to do it?





4. Additionally, would it help the many unemployed graduates if companies (sales sector included) acknowledged that training is the answer, rather than placing very high standards on their many competitive graduate schemes?




5. We've touched a bit of the different types of personalities that are attracted to a career in sales. I was wondering if the panel could explain how a graduate can discover if they have what it takes to get ahead in sales?




6. My question is how is best to develop my career through sales & what progression should I am for.



7. Why pick a graduate over another 21 year old with 3 more years’ experience in the world of work?
8. Any market trader can sell. Why do people need to put themselves £30k into the red to get a job with no security?


Respones can be found on
Click for responses

Click for info on Winning Edge Magazine & Institute of Sales & Marketing Management Membership Information

A Coffee "to go" or a Coffee "to stay and do business"

According to Research quoted by the i newspaper this week ( 18/01/11) Robertson's Golden Shred Marmalade has discovered that

50%+ of Brits don't have time for breakfast

16% of busy Brits buy Breakfast on the move with most spending between £3-£5 a day. ( £8 million a day during the working week)

Of those who do squeeze in breakfast 60% use the time to prepare for the day ahead:-



- catching up on emails,
- social media sites
- texts
- and news


What are the implications for professional selling ?





Coffee houses have re-established their place as a centre of trading.

Of course the UK has a long history of Coffee and business.

The first coffee house was set up in Oxford in 1650 which led to a growth to the three thousand in England by 1675.

In Steven Johnson's book titled Where Good Ideas Come From: The Natural History of Innovation. From Darwin to YouTube, Johnson asks three questions:-


• What kind of environment fosters the development of good ideas?
• What sparks the flash of brilliance?
• How does ground breaking innovation happen?
He says that if you want to foster innovation
- your office should look like a coffee shop!
Steven Johnson says in the video that he looks for the’ signature behaviours’ that underpin creative environments and goes on to explain why.
Click for Video of Steve Johnson on where good ideas come from


Perhaps to those of us in Selling that is not so surprising.


Where we conduct business has an effect on a meeting with a buyer.
From the Tack Buyers' survey of

Salespeople 39% of the respondents had met with a supplier in a Coffee Shop.

Andy Bones in the section in his book The Jelly Effect on networking says successful networking is a matter of Coffee and fish. ( see book review section of this blog)
By this Andy means grading potential contacts met at a networking event ( Big fish and small fry ) and coffee - going for an informal no obligation first meeting in a relaxed atmosphere for first contact





The UK has more than 3,000 branded coffee shops.

Research group Allegra Strategies predicted that Starbucks alone will keep growing at 9 per cent a year, rising above 6,000 outlets by 2017.


With Wifi available in the likes of Starbucks, Macdonalds , Café Nero with their alliance partnerships with Cloud and BT Openzone the Coffee Shops / Cafes have become our satellite offices.

Steven Johnson might suggest the coffee shop is the environment where ‘Chance favours the connected ( business) minds” fuelled by a skinny soya latte with a double shot or whatever.

Good luck and Good Selling when you are next in the Coffee shop doing business.

Click for free executive summary of the Buyers Views of salespeople research study









Wednesday, 19 January 2011

Standing Tall for a successful 2011- The power of posture expansiveness

Express enthusiasm, give a good firm handshake, exchange a business card (see the tables below) ask questions and take in pristine copies of literature.

These are just a handful of the most common tips for new salespeople in face to face meetings.

Yet the power of Body language and non verbal communication have important psychological parts to play also.

The specialists tell us that how you hold yourself affects how you view yourself
A salesperson’s posture may also be a deciding factor for whether they land a coveted sale ( or the job) – even when the buyer on the other side of the desk is in a more powerful role.

New research from the Kellogg School of Management at North-western University, USA, reveals that posture plays an important role in determining whether people act as though they are really in charge.



The research finds that
“posture expansiveness,”

or positioning oneself in a way that opens up the body and takes up space, activates a sense of power that produces behavioural changes in a person independent of their actual rank or hierarchical role in an organization.

More importantly, these new findings demonstrate that posture may be more significant to a person’s psychological manifestations of power than their title or rank alone.

In view of the increasing power of buyers this is important for sales professionals to study particularly in interactions such as negotiations and presenting sales offerings.

Professor Adam Galinsky ( scroll down to see Adam Galinsky's feedback to this blog) and Kellogg PhD candidate Li Huang, along with Stanford Graduate School of Business professor Deborah Gruenfeld and Stanford PhD candidate Lucia Guillory, this research is the first to directly compare the effect on behaviour of having a high-power role versus being in a high-power posture.

The paper is titled “Powerful Postures Versus Powerful Roles: Which Is the Proximate Correlate of Thought and Behaviour?” and appears in the January 2011 issue of Psychological Science.

Although not expected by the research team, they consistently found across the three studies that posture mattered more than hierarchical role – it had a strong effect in making a person think and act in a more powerful way.



In a meeting , for example, a salesperson’s posture will not only convey confidence and leadership but the salesperson will actually think and act more powerfully.

“Going into the research we figured role would make a big difference, but shockingly the effect of posture dominated the effect of role in each and every study,” Huang noted as reported on the Psychological Science website article.

When hierarchical role and physical posture diverge, posture seems to be more important in determining how people act and think.”

To test their theory, Adam Galinsky, Huang and co-authors conducted three experiments to explore the effects of body posture versus role on power-related behaviours.

The first two experiments demonstrated that when individuals were placed in high- or low-power roles while adopting expansive (i.e. open) or constricted (i.e. closed) body postures, only posture activated power-related behaviours.

In the expansive posture condition, participants were asked to place one arm on the armrest of a chair and the other arm on the back of a nearby chair; they were also told to cross their legs so the ankle of one leg rested on the thigh of the other leg and stretched beyond the leg of the chair. Conversely, in the constricted posture condition, participants were asked to place their hands under their thighs, drop their shoulders and place their legs together.

During various tasks such as a word completion exercise and a blackjack game, participants with open body postures were thinking about more power-related words and generally took more action than those with closed body postures. Although people in a high-power role reported feeling more powerful than did those in a low-power role, the manipulation of role power had little effect on action.


These findings demonstrate that role and posture independently affect participants’ sense of power, but posture is more responsible for activating power-related behaviours.
In a third experiment, the researchers demonstrated that posture also has a greater effect on action than recalling an experience of being in a high- or low-power role. Participants verbally recorded a time when they were in a high- or low-powered position while adopting either expansive or constricted body postures, and were then asked whether they would take action in three different scenarios.

Participants in the expansive body posture condition took action more often than those with constricted postures, regardless of whether they recalled a time of being in a high- or low-powered role.

When I emailed Professor Galinsky to check whether the research study findings were directly relevant to selling / buying interaction he succinctly replied.

Hi Hugh,

Very relevant!

Our research has clear implications for salespeople, even when they can’t be seen by others.

For example, having call center individuals sit in chairs that put them into an expansive/high-power posture should make them more assertive and confident, better able to see the big picture, will would likely lead to increased sales.

The effects may be even more powerful when one sells face-to-face. Not only will standing with an expansive posture make you feel more powerful but others will see you as powerful and confident.

Adam

Thursday 20th January 2011


Click for Association for Psychological Science site


Click for free executive summary of the Buyers Views of salespeople research study

Tuesday, 18 January 2011

Graduates in Selling 2011 - the value of work experience

3/5th of employers from the High Fliers Research Survey stated that it was either 'not very likely' or 'not at all likely' that a graduate who'd had no previous work experience - either with their organisation or at any other employer- would be successful during their selection process and be made a job offer.

Many recruiters commented irrespective of the academic results that a graduate had achieved, it would be very hard for an applicant to demonstrate the the skills and competencies that they were looking for if they'd not had any prior work experience.

Across all the employers featured in the research , an estimated 32% of this year's graduate vacancies will be filled by applicants who have already worked for an employer as an under graduate and in some sectors the proportion increases to 50% or more.


High Fliers Research measure the impact of recruitment activities with 120+ employers selected from the 100 Top graduate employers for 2010.

Almost all of the UK’s leading graduate employers are offering work experience programmes for students and recent graduates during 2010-2011 academic year. Total of 10,665 places are available.

3/5th of employers are providing industrial placements for undergraduates (typically 6-12 months) or vacation work lasting more than three weeks.

2/3rd of recruiters warn graduates who have no previous work experience at all are unlikely to be successful during the selection process and have little or no chance of receiving a job for their organisations’ graduate programmes.

High Fliers Research have recently published their 32 page report on graduate vacancies & starting salaries at Britain's leading employers.

It is organised into 5 sections Click for High Fliers Web site where you can down load the report scroll down to the bottom left hand site of their home page.


1. Introduction: Researching into the Graduate market. The Times Top 100 Graduate employers.
2. Graduate Vacancies : Job vacancies, Type and Location plus the impact of the recession
3. Graduate salaries
4. Graduate recruitment programmes
5. Work experience: Types of work experience on offer, availability and value of work experience










Other useful links:-


Click for Careers Guardian forums well worth following



Click for free executive summary of the Buyers Views of salespeople research study

Click for New 2011 open course in Sales, Leadership, Finance and Personal Development.

The death of email? - the hullabaloo caused by David Fincher's movie The Social Network


As all the promotion, hype and lobbying for David Fincher’s film about Mark Zuckerberg’s Facebook for nominations and awards at the Golden Globes , BAFTAs & OSCARS abound, Facebook is headlining the news.

The London Evening Standard ran an article ( 17th Jan 2011) on the theme that “texting, instant messaging and Facebook will soon make email seem as obsolete as the fax machine.”
Surveys in the United States on email usage have shown a decline:-







2008 Business users on average sending 140 emails per day
2010 Business users on average sending 93 emails per day
2011 Business users are expected to send on average 84 emails per day

Social network accounts are fast closing on email accounts. Research specialists Nielsen state that
in 2010 2.9 billion email accounts in the world and 2.1 billion network accounts
Nielsen predicts that by 2014 there will be 3.8 billion email accounts and 3.6 billion social network accounts.

In work it is easier now to notify a group of people about meetings and collaborate in real time on Facebook Messages than it used to be by email.

Communication is no longer a matter of managing your inbox, outbox and electronic desk accessories but rather dipping in and out of a constant flow of conversation which whirls around us.

( Scroll down for free summary of research study Buyers' views of sales people)

For marketers, building up list of loads of email addresses was painstaking and protracted work.

Today it is possible to tweet on a subject, tag it and swiftly reach a relevant audience.

Say something worth saying and they will quickly find you. Sending a marketing email with a pitch will as likely as not end up in the junk mail file.
Yet many may stick with email because of its formality and that only the content of the email and the email address whilst a social network message exposes more of one’s identity with the attendant security worries.


Email is effective for arranging things but is not so fluid at collaboration. Compared with using the applications on Facebook, email is a clunky back and forth method of communication.

When you want to show something as we do when demonstrating to a client we should be able to bring it right up on screen as you talk through as the client sees the demo.










What does this all mean to Professional Selling?

We need to work how best to use all the various ways we can communicate by

Twitter,

Updating by Facebook /LinkedIn,

Blackberry messenger,

Skype,

Instant messaging,

Apple’s facetime

or SMS.

However in the business field email’s survival will be ensured.


There is considerable fear and unease on the openness of social networks and the possibility of leaks. Also there have billions that have been invested in email security.
Email also provides an easily organised record of communication which provides a paper trail for legal purposes.

"The report of the death of email" as Mark Twain might have said " is greatly exaggerated."

Click for free executive summary of the Buyers Views of salespeople research study

Monday, 17 January 2011

The 3 Key Parts to a DVP- tuning into the Buyer's favourite radio station WWIDFM

(Object d'arts from the Melia Hotel Seville)


The most fundamental question a client has in their mind is “What will it do for me?”

Some buyers will brazenly ask it outright of a salesperson but all are at least thinking that question as they listen to our offering.

The question can be split into three parts which we can analyse in detail.


If we can give a detailed response to the question the more persuasive, appealing and relevant our offering will be to our Buyer.

1............................ 2.............................. 3



What.................... will it do ....................for me ?

IS......................... DOES......................... MEANS



Features/Facts....... Benefits....................Personalised Benefits








Differentiated Value Propositions (DVP) are a client motivation discipline which enable you to communicate your whole offer ( not just your product or service itself) in the most attractive, cogent and pertinent approach.

The exercise of DVP must be part of your sales preparation and training so that when you are subsequently in front of a (potential) customer you have all the information and ‘ammo’ you need to select the most telling points and communicate them in the most effective way.


The three parts of a DVP (client motivation)

Part 1: ( The “IS “)
Firstly identify all the facts and features of:

• Your real product/service
• Your organisation
• The ‘package’ which you offer your clients
• These facts/features must be exact, preferably measurable, and capable of being proven.

Part 2: (The “DOES”)
Extend these facts/features into results or benefits. Facts/features state what something is; results/benefits state what something does, or what is its effect.
A good way to derive lots of features in your DVP is to challenge yourself several times with the challenging questions “So What ?1” , “So what?!” , “So what ?!”

Part 3: The “ MEANS”
Interpret these results/benefits into motivators or Personalised benefits. ( * TACK International use the expression You-Appeal. My delegates on courses tend to ‘corrupt’ it into “Hugh Appeal!”)


Discern how they can be communicated to your customer in such a way as to appeal to both their rational (e.g. gain or saving of money, functionality, security, safety etc.) needs and/or emotional (e.g. ego, loyalty, pleasure, fears, sentiment etc.) wants. The link phrase for effective interpretation is “...which means that you (or your)...”. Remember you are personalising the benefit with a “wraparound” statement that relates to your customer’s needs.
One of he ways to generate good “Hugh Appeals” is respond to several challenges of “ What does that mean to me?!” , “ What does that mean to me?!”, “ What does that mean to me?!”.

Features/Facts Benefits Personalised Benefit
( Hugh Appeal)
Is Does Means

Each benefit is tailored to your client’s situation by using the phrase “which means that you or your” – the word ‘you’ puts your client in the centre of the benefit picture. In other words your presentation becomes a more persuasive communication and in tune with the client. It ‘resonates’ better with your client.

Competitor comparison
In order to motivate a client or prospect to buy from you, they need to appreciate not only that your DVP is good in itself, but also that it is the most cost effective offer for the business and preferably also the most personally suitable one for them too.


While it is unprofessional and unacceptable to ‘rubbish’ your competitors directly, DVP enables you to compare favourably with them in two ways:

• by communicating your offer in a professional fashion it will create a much better psychological impression than a badly presented case from a competitor.

• by stressing on those features/benefits which are exclusive to you, or which are your greatest relative strengths, then indirectly you will show how you are better than your competitors.


The practical use of DVP
You are not doing the full analysis to enable you to swamp every client with information whether they want it or not. You do it to ensure that you are fully conversant with the implications of your total DVP, and so that you are in a position easily to bring to mind the points that will appeal most to a specific individual. You must also provide evidence that you can meet both their business needs and their personal ‘wants’.

DVP will enable you to communicate your key points to your client so that your presentation is:

• Logical
• Credible
• Comprehensive
• Motivational
• Distinctive