We have four “neighborhood” restaurants nearby that historically have had good food and are convenient to get to.
So it is interesting that we have now had three bad meals in a row at three of them accompanied by a drop in service and even some cleanliness. Not coincidentally, the crowds are thinning so they are in a classic death spiral.
Needless to say they are off our list, and usually when you see this kind of drop off in quality, you see the restaurant close soon thereafter, so we will see.
Meanwhile the fourth restaurant is maintaining its quality of food and service and is more robust than ever.
We have all experienced this and it is a good lesson relative to our own businesses. Read more
Have you ever wondered why big brands like Walmart and Procter & Gamble give away free samples?
Yes, they want us to try a product, but there is a deeper psychology in play called “the reciprocity principle.”
The reciprocity principle, at least in our culture, states that when we receive something, we feel compelled to balance the scales by giving something back. Read more
There is an old saying that is just about the purest description of selling at the highest level there is . . .
“If you can grow my business you can have my business.”
Think about that for a moment, because when we cut through all the levels and layers and get down to what really drives the whole transaction dynamic, this really is the bottom line.
And it is the level, by the way, where the most important people in any given company live and breathe every day.
Often, our value propositions fall short of connecting to how our products and services can help a client grow their business. Read more
I read an interesting article in the Ladders recently on persuasion. One thing that caught my eye, that reinforces something we emphasize in our workshops, is how difficult it is to try to change someone’s pre-existing beliefs. And if we try to engage in a sale on those grounds, we are almost certain to be rejected.
Here is what I mean. Read more
I was working with a young salesperson the other day, going through his client pursuit routine.
He said he contacts prospects three or four times, and then drops them from his active list.
Here’s the problem.
Some of the best salespeople work for nonprofits. Their research shows that it takes an average of seven touches before a donor actually signs a check.
All buyers fit into three categories. Read more
In the business context, a price objection is a challenge of value and a risk/reward analysis. Consider this.
What if you were trying to convince someone to buy something from you and you said,
“I have a deal for you. You see this money I have in my hand? It is $1,000. If you will hand me $1,000, I will immediately give it back to you along with the $1,000 in my hand . . . a 100% return.”
How do you think the buyer will respond?
Of course he will say yes.
Why? Because he has stopped thinking about cost and he is focusing on the low risk, high return of the proposition.
In fact, he is probably hoping you can do it again, or raise the amount of the investment. The “price” is long gone as a hurdle.
The exact same dynamics are in place in every sale. We set a price, the buyer sizes up the risk and the reward, and if he likes the deal he will close.
So why is it so hard? Read more
As you might surmise, our Mr. Shmooze community includes all sorts of people who are interested in selling and communications including business owners, sales managers and salespeople.
Historically our focus has been on helping salespeople ply their trade, but over the years many of you have asked if we have anything specifically for owners and managers . . . something that can help you develop your strategies and build outstanding sales teams.
Because of this, I wanted to announce in today’s post our new, online course entitled, The Best Damn Sales Manager’s Guide Ever! Read more
I just got back from a trip. I was delayed in Pittsburgh on the way back to Austin through Dallas. The delay was almost certainly going to blow my 2:35 P.M. connection in Dallas, so I approached the desk at the gate for options.
There were two agents:
- The first one looked at me grumpily and said, “I cannot help you. I can only work on tickets with connections up until 2:30 P.M. (Remember . . . mine was at 2:35 P.M.).” I said . . . “Have you ever flown through Dallas? Their taxi time is long and the train loop is slow, there is no way I will make this connection.” She looked right past me and said “2:30 P.M. cut off . . . NEXT.”