Archive for the ‘Marketing’ Category
Your Reputation: Golden or Gone in an Instant.
One of a person’s most valuable assets is their reputation. Sam Richter’s comments and ideas below are a must read.
What You Say Online IS Your Reputation
You’ve spent your entire working career carefully crafting and protecting your reputation. You’re honest with suppliers and work exceptionally hard to exceed your clients’ expectations. You operate with integrity, are transparent in your activities, and treat everyone with respect. If anyone were to check your references, people would rave about what a great person you are.
And then you opened a Facebook account.
From any mobile device, anywhere, at any time you can share what’s on your mind. Out with your buddies and heard a great joke? Share it with your friends! Receiving poor service at a new restaurant? Gripe about it and let the world know! Agree with the latest rant by Rush Limbaugh? Share it with your online colleagues!
And guess what? Now that image you’ve spent your entire career building and that reputation you’ve worked so hard to create have vanished. Instantly. Because that great joke about the rabbi, the priest, and the Irish guy wasn’t too well received by your Irish co-worker, your Jewish client, and your Catholic board member. Although your friends appreciated knowing about the restaurant’s poor service, the restaurant itself wasn’t too fond of the negative review and thus they pulled their sponsorship of the nonprofit where you serve on the board. And sure, your political views are certainly your own business. Except for the fact that your best customer doesn’t agree and he has now decided to give his business to your competitor.
Web 2.0 has literally taken the world by storm. Web 1.0 is defined as one way communication whereby your company creates a website to share your information, and search technologies make it easy for people from around the globe to find you. Web 2.0 is defined as two-way communication, whereby parties can interact, often in real time, over the Internet.
Facebook, LinkedIn, Twitter, micro-blogs, Skype, texting, digital photography, YouTube and other technologies allow us to communicate in ways previously unimaginable. With mobile devices, we can broadcast when it occurs. The great benefit of Web 2.0 is that anyone can be a publisher of information and the world is the stage. The great danger of Web 2.0 is that anyone can be a publisher of information and the world is the stage.
What makes Web 2.0 so dangerous is that not only can you share information and distribute it on a global scale without the benefit of an editor, but worse, what you say online can be archived and searchable by anyone … forever. Meaning that one online mistake can come back to haunt you theoretically for the rest of your life.
Crazy? Not at all. Tiger Woods, Brett Favre, Michael Phelps and other celebrities have all had their reputations tarnished because of what they said or did via technology or what was captured and disseminated about them online. Think it can’t happen to you? Think again. There are countless examples of everyday people who have posted seemingly innocent messages online only to have those messages come back and cause real damage to the individual’s career and reputation. For example:
Did you hear the joke about President Obama? A business executive did and posted the joke to his Twitter account. Pretty funny until the Secret Service showed up at his office because the joke—taken out of the context of being told in person with your buddies at the bar—was viewed as a legitimate threat on the President’s life.
Did you see the photo of the young girl on her Segway pushing her baby carriage across the street? Hundreds of people did and posted vulgar and rude messages about how lazy she was, including posts that “she should die.” The last comment on the blog where the photo was posted was from the young woman’s cousin. He explained that the young lady on the Segway had her legs amputated in an accident, and using the Segway was the only way she could take her new baby out for a stroll. Oops.
How about the woman who answered a Facebook survey asking if she believed in God? The woman answered no. Seemingly innocent. Except that she was a teacher at a religious school and when her supervisor saw her response, she was fired from her job the next morning.
The concept of branding has historically been important only inside the walls of advertising agencies and corporate marketing departments. Companies spend billions of dollars each year to protect and promote their brands. They buy media on the airwaves, in print, and online, all with the goal of disseminating their key messages—their brand promises—to potential and current customers.
What is a brand? Quite simply, it’s the unstated promise a person believes he will experience if he associates with a specific company and/or product. Coca-Cola’s brand promise is “fun and refreshing.” Nike’s brand promise is “kick-butt on the competition.” Volvo’s brand promise is “safety.” When you think of those companies, those are the images that they want you to have in your mind and again, they’ve spent billions of dollars to help develop that unstated promise within each one of us.
In today’s information-rich and publisher-easy world, if you post anything online then you are disseminating your message to the world and, by default, are promoting your brand—your personal brand. Unlike big companies, promoting your personal brand costs virtually nothing. But unlike big companies where countless hours are spent thoughtfully planning the brand, your personal brand can be broadcast to the world with the simple click of a mouse.
What is your personal brand? If I only know you by your Tweets, blog comments, or Facebook posts, what is the unstated promise I believe you represent? What is the unstated promise I believe I will receive if I associate with you?
Does your personal brand complement or conflict with the image you’ve worked so hard to craft in your personal life? Is your personal brand consistent both offline and online? Do you act one way or say things one way in a person-to-person setting, and then say something completely different with your online persona, veiled behind the perceived virtual wall of Web anonymity?
What most people truly don’t understand is that the Web, by its very essence, is not anonymous. The Web, by definition, spreads and grows, connecting computers and people around the globe. Even one-to-one text messages or even emails can be archived and shared with the masses (what’s stopping me from posting that email that you sent me). There is no such thing as “your online friends group” or “private message boards.” Because once it is in a digital format, nothing is limited and nothing is private.
The good news is there are steps you can take to ensure you manage your reputation, and they aren’t limited to living in a cave with no Internet access (because even then, you still can probably be found online). There are techniques you can use, steps you can take, and online resources you can leverage to create, maintain, and even further your personal brand.
When people type your name into Google or other search engines, what do they find? Following are some simple tips you can immediately implement to manage your online reputation. Many are important to Google and other search engines, meaning, if managed correctly, you can be sure to have the information you want to be seen showing up in the top of search results when someone searches your name. Best of all, for the most part, you control the message.
Own your name online. If your name is “Joe Smith,” do you own www.joesmith.com, www.joe-smith.com, and even www.joe-smith-sucks.com (and all of the .org and other variations of the above names)? If you don’t “own” your own name, then you’re leaving your online reputation in the hands of someone who does.
Manage Your LinkedIn Account. LinkedIn has become one of the key places for business executives to be found. Setting up a LinkedIn account at www.linkedin.com is easy. Make sure you complete all of the fields and craft a well-written professional profile. Be honest, as it’s fairly easy to verify or refute any information you enter. Follow the LinkedIn guides to learn how to best take advantage of this powerful resource.
Leverage Your LinkedIn Account. Set up other accounts in places similar to LinkedIn such as www.naymz.com, www.zoominfo.com, www.plaxo.com, and www.businesscard2.com. Copy and then paste your LinkedIn profile into these accounts, and then modify it to fit the specific site’s format.
Create a Google Profile. Let Google know that you exist and who you are by setting up your own Google Profile at www.google.com/profiles. Set up your free account, link your website and social networks, and more. Again, leverage your LinkedIn profile that you’ve already written when creating your Google Profile biography.
Create a Twitter Account (and Use It). Create a Twitter account at www.twitter.com and Tweet on a regular schedule. Refrain from Tweeting about what you had for breakfast. Rather, Tweet educational articles related to your business or industry. Share information that others will find valuable. On Twitter, follow others whose reputation you respect.
Manage Your Facebook Account. Remove any photos that don’t show you in a professional manner. Certainly share information about your personal life because that’s what people want to see on Facebook, but don’t post anything that you wouldn’t want your mom or grandmother to see. Remember, it’s not just you, but it’s also your online “friends” who help form your online reputation. “Unfriend” anyone who posts inappropriate content on his or her Facebook page. If someone posts a photo of that party you attended in college that embarrasses you, kindly ask that they remove it and if they won’t, certainly un-tag your name (yes, if you’re tagged in someone else’s photo on their Facebook page, it’s possible that that the photo can be found by searching your name).
Set Your Facebook Privacy. Want to keep your personal life personal? Make sure you set your Facebook Privacy settings. Login to your Facebook account find “Account Settings” on the main navigation, and then choose “Privacy Settings.” Customize your settings to the level of privacy you wish. Make sure to click on the multiple links under “Privacy” including “Application Settings.” You need to manually opt-out of Facebook’s default settings because Facebook itself is an opt-in program, meaning you opted-in to Facebook’s default privacy settings upon opening your account. Facebook’s default setting are basically “share everything with the world,” so if you don’t want that, then you need to change your settings individually.
Get Involved. Participate in LinkedIn Groups and answer questions in LinkedIn’s Questions and Answers section. Use your real name when identifying yourself. Write articles for your industry blog and website and make sure to link to your website and, again, use your real name. Serve on nonprofit boards and make sure the biography you want is posted on the organization’s website. The more credible places where you can get your name posted and seen, the more credible sites that will appear when someone searches your name in Google and other search engines.
Keep Your Cool. If someone writes something negative about you or your company, don’t respond with an angry rebuttal. Instead, recognize that when people criticize, they usually just want to be heard. Call the person, email him or her, and/or respond online with a genuine apology. Even if it’s not really your fault, apologize anyhow at the very least, for the negative experience the other person experienced. Let him or her know how you’re going to fix the problem, and then apologize again. How you respond to negative comments probably says more about you than the positive messages that you control or that even others post about you.
Think Before You Post (or Send). Remember, 80% – 90% of communication is non-verbal. What you think is funny others might think is highly inappropriate. Where you might be just slightly angry at someone, in an email, your comments can be taken out of context and you could be portrayed as spiteful and mean. Don’t send an email, don’t text a friend, don’t post a Tweet, don’t comment to an online post until you’re sure that what you say won’t be taken out of context, and how you say it is done in a calm, professional, manner.
IMPORTANT TIP: Did someone else’s message cause you to feel angry or emotional? Before posting a response online, Tweeting, texting, or emailing the other person, write down exactly how you wish to respond at that very moment in your emotional state, but write it in an email that you send to yourself. Then wait a few hours or even until the next morning and read the email. Once you’ve had some time to reflect, you’ll most likely refrain from sending the message altogether or you’ll edit out the emotional parts before you send.
Remember, once you hit “Send” or “Post,” it’s archived and theoretically searchable forever. Do you really want your permanent online legacy to be one written in a time of anger? Ask yourself this question every time before you hit “Send” or “Post:” “How would I feel if this post made the front page of tomorrow’s newspaper … would I be embarrassed if my professional network read this?” If the answer is yes, then don’t “Send” or “Post.”
In today’s information-rich world, it’s nearly impossible for you to not be found online. Whether it’s information that you post or information that others post about you, virtually everyone today has some form of online presence. The key question you need to answer is, who is going to control the message? You, others, or fate?
Extreme customer care does not cost, it pays!
Extreme customer care does not cost, it pays. Most of us have heard the saying, “please a customer and they will tell a friend. Treat a customer badly and they will tell ten friends.” The story below from Dr. Philip Humbert tells us times have changed. Even if your business is not participating in social media, you are being talked about. Ignore the comments at your risk, leverage the comments for higher profits.
Bill Roh
Strictly Business: Where Do You Buy Cigars?
In an age when “customer service” is rare, I recently had an
example of outstanding customer care that went far beyond
my expectations. I want to tell you about it, with an emphasis on the potential profits involved.
Not many of you value cigars, but stay with me for a second.
This is important to your bottom line. I recently ordered a
box of excellent Carlos Torano cigars as a gift for a
colleague who had done me a favor. Unfortunately, when they
arrived, they were terrible!
I was disappointed and embarrassed, and expressed my
feelings by posting a negative review on the website of the
company I bought them from. Then, a remarkable thing
happened.
Arthur Zaretsky, the President of famous-smoke.com saw my
note and sent me an email. He expressed his personal concern
and said he had forwarded my note to the President of Torano
cigars. As a customer, I was impressed that he had taken my
complaint seriously. This is good customer service!
But it gets better. Within an hour(one hour!) I got an
email from Charles Torano (Carlos’ son) expressing dismay
and offering to send me a replacement box and a bonus gift.
They sent it by express delivery and it arrived two days
later.
Even if you hate cigars, there’s a vital business truth
here.
I want to emphasize that there is absolutely no evidence the
problem was caused by either famous-smoke.com or the fine
people at Torano! The cigars could have been damaged in
shipment, or even frozen in the UPS truck right in front of
my office. These gentlemen had no obligation to take care of
my problem! But they did. They went “above and beyond” and
they have a customer for life.
Now, I don’t smoke many cigars, but I’ve just told this
story to 42,000 people and there is no question where I’ll
go when I do buy a cigar.
Think of it this way. What is your cost of attracting a new
customer? What does it cost in advertising, account-set-up,
time and trouble to get that cautious first-time buyer? Now,
compare that to the cost of working with an existing
customer to create a “raving fan” who will sing your praises
to (potentially) 42,000 people. Get the point?
Figure it out! Answer your phone. Make it right. Go the
extra mile. This is not rocket science. Extreme customer
care does not cost, it pays.
Contact him at:
www.philiphumbert.com or email Coach@philiphumbert.com
The Five Deadly Facebook Sins
Great advice for those of us who mix business and friendship on Facebook!
The Five Deadly Facebook Sins
By Elizabeth Southall, Published December 05, 2010, WomenEntrepreneur.com
It’s official: U.S. web surfers now spend more time on Facebook than they do on any other website.
Online tracking firm comScore just revealed that the average U.S. web surfer now spends about 10 percent of his or her total time online on Facebook, with Google coming in second place.
With Facebook the most popular destination on the internet, many savvy entrepreneurs are now looking for the best ways to market their businesses to Facebook’s 500 million users.
But Facebook marketing isn’t as easy as you may think.
If you know what you’re doing, you can quickly generate a large, loyal fan base to which you can market your products and services. But if you violate the unspoken rules of Facebook etiquette, you not only could find yourself without fans — you could also end up generating negative buzz for your business on the world’s largest social network.
Here are five cardinal “sins” to avoid when marketing your business on Facebook:
Mistake No. 1: Sending Business Traffic to Your Personal Profile
As a general rule of thumb, profile pages are for people, and fan pages are for businesses.
The main benefit of using a fan page for your business is that fan pages are indexed by the search engines, while most profile pages are not (depending on your settings). This means your fan page content can show up in Google, Yahoo! and Bing search results, exposing your business to tons of potential new customers who are not on Facebook.
Plus, if you add your website URL to your fan page bio, you’ll have an inbound link from Facebook (a high-ranking site) to your website. This can boost your website even further in the search engine results.
Another disadvantage of using a profile page for your business is that you can have a maximum of 5,000 friends. With a fan page, you can have unlimited fans, which is essential if your goal is to attract as many fans as possible.
Mistake No. 2: Giving Your Fans the Silent Treatment
Many business owners put a lot of time and effort into attracting fans on Facebook, then never engage them in conversation. This is a big mistake.
Think of your fan page as a never-ending networking party you are hosting for like-minded people. Would you invite people to your party and not speak to them after they walk through the door? Of course not.
The whole purpose of having a Facebook fan page is to engage and interact with your fans. It’s a social network, after all — so go socialize.
In this case, the party is your fan page, you are the host and the mingling is happening on your fan page wall. When people post comments on your wall, a good host will reply, ask questions and engage. Aim to create a conversation.
Do this, and when it comes time to promote your products or services down the road, you’ll find your fans will be much more open and receptive to what you have to offer.
Mistake No. 3: Posting at All Hours of the Day or Night
The whole purpose of your fan page is to get your message in front of as many fans as possible and to get them commenting on it, hitting that little “like” thumbs up, or sharing it on their wall feed so their Facebook friends will see it, too.
If you post an update for your fans in the wee hours of the morning or super late at night, it doesn’t matter how good your content is — chances are, the majority of your fans aren’t going to see it.
Atlanta-based Vitrue, a company that manages social media marketing for hundreds of high-end brands in a range of niches, recently released some excellent data on the best time of day to publish a wall post on your fan page.
After comparing stats from 265 million fans from the hundreds of Facebook fan pages it manages, Vitrue noticed that wall posts made before noon get an average of 65 percent more engagement than wall posts made in the afternoon or evening. (Again, Facebook engagement means shares, likes and comments from your fans on your fan page wall.)
It seems most people check Facebook in the morning, most likely over a cup of coffee at the office before the day gets busy.
With this in mind, save the early-morning or late-night posts for your personal profile page. Put posts on your business fan page wall before noon.
Mistake No. 4: Posting Text-Only Wall Posts
Posting text-only wall posts day after day is kind of like serving the same thing for dinner over and over. Even if what you’re serving up is delicious, repetition is boring.
To keep your fans interested and engaged, mix it up by posting a combination of text, pictures and video.
More data released by Vitrue reveals that wall posts containing pictures usually get 54 percent more fan engagement than straight text posts. Video posts come in second, getting 27 percent more engagement than text posts. Text posts come in last out of the three.
So to get your fans commenting on, liking and sharing your content, include pictures, graphics and other eye candy in your posts — and include them often.
Mistake No. 5: Promoting, Promoting, Promoting
One of the reasons Facebook is a fantastic place to attract new customers is because the social network is such an open, friendly place. Most Facebook users are on the site to connect with friends and, as a result, you can market here without encountering a lot of buyer skepticism you’ll find elsewhere.
Less-than-savvy business owners who relentlessly post promotion after promotion will quickly find their fan numbers dwindling. Annoyed fans can choose to hide your updates or simply “unlike” your fan page altogether.
To avoid this, observe the 80/20 rule.
Eighty percent of your wall posts should offer no-strings-attached value to your fans in the form of tips, advice or friendly banter. Once you’ve built up a relationship with your fans, you can talk about your products or services the other 20 percent of the time.
When it comes to marketing your business on Facebook, keep in mind that you’re entering a social network, and new rules apply. Social networks are all about networking, interacting and connecting.
Start with a professional fan page, post a combination of text, video and images during the first part of each day, and focus on building relationships instead of selling. That way, you’ll be positioned to grow a large, loyal fan base of potential customers.
Elizabeth Southall is the founder of Dot Com Diva. A former direct response marketing coach to Fortune 500s and seven-figure website owners, today she shows women entrepreneurs simple, ethical and fast ways to reach more customers online.
http://www.foxbusiness.com/personal-finance/2010/12/05/deadly-facebook-sins/?cmpid=prn_baynote-js_The_Five_Deadly_Facebook_Sins
The Great Business Discovery of 2010
Do you know what’s working and not working in your business? Are you following old habits or developing new and innovative ways to serve your customers? The article below comes from an email newsletter I have subscribed to for years. If you are a business leader with three or more employees in the Dallas/Fort Worth area you need to attend the Untyed, Connecting Leaders events. Investing an hour of your time will pay great dividends. Check them out at www.untyed.com.
Bill
Welcome to TIPS for Extraordinary Living!
Sunday, November 28, 2010
Written & Published by Philip E. Humbert, PhD
Strictly Business: The Great Business Discovery of 2010
We are nearing the end of 2010 and one of the most important
(and profitable) investments you can make is to review the
past few months very, very carefully.
To an amazing degree, we humans are creatures of habit. We are
great examples of Newton’s law that, “a body set in motion
tends to remain in motion.” We tend to plunge eagerly ahead,
repeating yesterday’s mistakes and failing to learn from
experience. Yes, we take great pride in the fact that we “can”
learn, but my observation is that we rarely do.
We tend to assume that what worked last year will continue to
work next year. We know intellectually that we should be
innovative, creative and original, but in our daily work it’s
easy to follow old habits, whether they still work or not.
When Jack Welch was the head of General Electric, he insisted
that half the company’s profits come from products and
services that were less than five years old. Why? Because he
knew that yesterday’s methods won’t fit tomorrow’s world.
Take time — several hours if necessary — to review the
following questions:
1. What worked best last year? What surprised me, inspired me
or taught me something new for my work or business?
2. What did not work, or is working less and less well? What
was less profitable or less effective than I expected? What
should I drop altogether in the new year?
3. What’s new in my field? What are my colleagues doing that I
should apply to my business?
One of the absolute BEST things any professional,
business owner or manager can do is invest in seminars
and conferences. The chance to get away and “see the forest
for the trees” is incredibly valuable. Conferences generate
new perspectives, and new ideas create vast new opportunities!
Invest in yourself!
Copyright (c) 2010, all rights reserved.
U.S. Library of Congress ISSN: 1529-059X
You may copy, forward or distribute TIP’s if this
copyright notice and full information for contacting
Dr Philip E. Humbert are included. Contact him at:
www.philiphumbert.com or email: Coach@philiphumbert.com.
Failure is not fatal, but failure to change might be.
“Failure is not fatal, but failure to change might be.” John Wooden
If you believe Coach Wooden’s quote and are the owner or leader of a business in the Dallas/Fort Worth area with three or more employees, you need to attend the West Plano Untyed, Connecting Leaders this Thursday at Gleneagles Country Club.
The rapid changes and multitude of inputs that surround us can be overwhelming. What should I do now? How can I ensure we can still win tomorrow?
One of the most important questions to ask today is, “What should I QUIT doing?”
We keep hearing that little voice in our heads telling us “winners never quit.” Unfortunately, that little voice does not always tell us what we really need to hear. We need to continually challenge and sometimes quit doing things that used to work but now get in the way of success.
Lee J. Colan, Ph.D. is President of The L Group, Inc., a Dallas, Texas-based consulting firm. He is a high-energy leadership advisor, author and leadership expert. He delivers practical, powerful tools attendees can put to work right away.
At Untyed this week, you will learn powerful models and practical strategies to:
- Quit Taking a Ride . . . and Take the Wheel
- Quit Getting Comfortable . . . and Explore the Edge
- Quit Analyzing . . . and Follow your Intuition
- Quit Managing your Time . . . and Manage your Attention
- Quit Showing Interest . . . and Commit
- Quit Moving . . . and Be Still
- Quit Striving for Success . . . and Seek Significance
Registration for Untyed and for this event can be done at www.untyed.com. Email me at broh@dfwbusinesspro.com if you have any questions.
Make it a great day!
How to Keep Your Business Relevant
Keeping your business relevant is critical to survival. Not only is your day-to-day cash flow impacted but also your long term growth plans and ultimately your exit strategy. IBM doesn’t sell many typewriters any more. Do you have products or services that need re-invented or retired?
How to Keep Your Business Relevant
By Chia-Li Chien, Published August 05, 2010, WomenEntrepreneur.com
In nature, the plants that survive are the ones that can adapt quickly to changes in nature. Those that can’t adapt quickly enough will vanish. The current financial crisis makes businesses both large and small rethink their future direction. Even 100-year-old companies are learning to adapt and create ways to stay ahead of the game.
For small businesses, adaptation often translates into innovation. Innovation can be a product, a process or a service. It can be a business model, a new way of marketing, a new supply chain, etc. I recently had the opportunity to interview author Mark W. Johnson of Seizing The White Space: Business Model Innovation for Growth and Renewal. Johnson is co-founder and chairman of Innosight, a boutique consulting firm that helps clients improve their ability to create innovation-driven growth. Johnson says innovation can be part of your corporate culture–not a one-time deal, but as a repeatable process. This repeatable process not only provides long-range strategic action for the business but also creates growth opportunities beyond the current business model.
For many small businesses, to be bought by bigger players could be a dream come true. But how do you position your business model so it is attractive enough to be bought? Yes, your product or service innovation has to be noticed. But you also need to have a solid foundation for the big guys to pick you up. Here are things to consider when you innovate or reinvent your business:
Focus on the job-to-be-done. “A powerful customer value proposition is a key for all successful business models,” Johnson says. “The CVP is to solve an important problem or to satisfy a job-to-be-done.” Today a B2C business can easily tap into the consumer’s community and receive inputs from the community to enhance its products. “It is your job to fully understand what is your customers’/clients’ job-to-be-done so you can add value to all stakeholders.”
The speed of new learning. Any new business model needs timely implementation. “There are three stages in implementation: incubation, acceleration and transition,” Johnson says. Often, it takes years to go through these stages. However, the implementation stages are measured by the speed of new learning inside your business along with the structure, discipline and ability to trim the waste in the system in pursuing the potential growth.
Scalability of the new business model. Whenever a business enters a new space, the owner is taking a certain amount of calculated risk. You have to know how to scale it so you can handle the growth.
Financially fit to succeed. The five-year block (each five-year-block in a business is a milestone) often will determine whether a business can break through the $5 million, $10 million or even $50 million mark. To successfully apply the elements cited above, your business must be financially fit to take on the new challenge.
Parallel implementation. Don’t rock the mother ship too much. Let the mother ship continue to sustain the business, and implement the new business model in parallel.
Remember this: Your business either leads the industry or follows the industry. Just don’t get crushed.
http://www.foxsmallbusinesscenter.com/sbc/2010/08/05/business-relevant/
Sales Leaders: Is Your Sales Organization Visible, Accountable and Predictable?
My friend, Rick Toma, of Metricsboard has some great advice for sales leaders.
Sales Leaders: Is Your Sales Organization Visible, Accountable and Predictable?
August 6th, 2010 by Rick Toma
Think about this a minute or two. You are a sales leader. The size of your organization does not matter. The product or the service you are selling, does not matter. Your competition does not really matter. Price or margins do not matter. This question focuses on sales behaviors, culture and communication.
There is an old expression. “What I don’t know won’t hurt me.” I, personally, hate this expression and look at it as an excuse and not a reason for why things are the way they are. Awareness is the cornerstone for action, results and ultimately, accountability. First, one must have that desire to “know” and accept that maybe, just maybe, he or she does not know everything.
In my years of working with and within sales organizations, I have just about seen the spectrum of what makes a good sales organization and what is missing in those that, let’s say, are not that good. Almost in all cases, I hear excuses and not reasons. And, when all the dialogue ends and the dust settles, it fundamentally comes down to the question, above. How visible is the sales effort that is so crucial for business success? Are your sales performers accountable for their degree of effort and the subsequent results? Can you rely on what you are being shown or told that translates into real and sustainable revenue?
Let’s examine these key 3 critical success components, individually.
- Visibility: Visibility is the knowledge of what is going on in all phases or facets of the sales process. I don’t think that I know of any sales organization where there are not one or two (or more) sales people that hold back just a little on their prospect churn or soon to close clients. The reason? It’s the sales performer’s way of managing the boss’s expectations. They would rather delight than disappoint. That unanticipated win makes him or her heroes! And, should that boss be in bliss over the unexpected windfall? That answer should be categorically NO! That is just one example of visibility. Another example includes the maintaining and communication of a complete pipeline by individual performer. A pipeline report is not just the highest likelihood for close of the top prospects. It should include the good, the bad and the ugly. How else can one manage individual performance? And, it is not so bad an idea that those who are long in effort and short on results be known in larger circles than just with the boss. Visibility such as this leads to the next component…accountability. More on that a little latter. In summary, visibility requires standard processes, standard rules and standard measures/expectations for success. All must be thoroughly communicated and understood by all. No exceptions. And those who break or bend the rules risk adverse monetary actions or formal disciplinary action.
- Accountability: How many times have you, as a sales leader, had an individual whose pipeline was always full to the max, had high probability to close projections and when month-end came around, there was nothing? These individuals are self proclaimed students of the art of sales, attend regular training and always are so busy and harried; you can’t corner them for even 10 minutes. These are people who think success is measured by activity and not necessarily by results. Most sales organizations have a smattering of these individuals and they are often, difficult to deal with. There is always an excuse(s) as to why those close projections did not materialize. But, there is always the next entry in the pipeline that will, for sure, close. As common as this is, there is simple explanation for the non-performance. This type of individual has not taken accountability for what that individual has taken on with the role in the first place. That being the closing of business and the generation of revenue. Period. Underlying reasons can vary from lack of communicated and understood goals, to too high of salaries, to lack of feedback or management complacency. The list can go on. However, attracting and retaining sales performers who know what is expected from him or her and signing up or owning up to that expectation is absolutely critical to sales success. They also know that not living up to that commitment means no job. As sales leaders it is incumbent upon each of us to thoroughly communicate and reinforce what is expected of each sales individual, the upsides, the downsides and the support they can expect in order to be successful. Frankly, a sales organization that is not 100% accountable is a sales organization that is doomed to live in one form or another of mediocrity, at best, and be an inexhaustible expense drain with little to show for it.
- Predictable: How perfect a world this would be if every individual sales projection was 100% perfect 100% of the time! Unfortunately, that scenario just does not happen. However, just getting to a “reasonable” percentage for purposes of forecasting is a mega challenge, particularly in today’s economic times. What is a reasonable percentage of projected to actual close? I’ve seen as little as less than 10% and as high as 66%. The challenge is not so much the figure, but what you can rely upon from your sales organization. Of course, you want that figure to be as high as possible. Sales predictability can arguably be a product of the previous two discussions around visibility and accountability.
Given the instituting of process, structure and discipline combined with honest and ongoing communication, you are on the road to having that sales organization that is visible, accountable and predictable.
Now, here is the kicker. This road travels both directions. As you desire and ultimately expect your sales organization to be more visible, accountable and predictable, you best ask yourself if you are visible, accountable and predictable. Anything short of your not walking your talk spells frustration, mixed signaling and falling short of expectations. But, that is the topic for another discussion.
About Metricsboard: We are an online benchmark company that provides free business performance benchmark assessments. The benchmarks are automated and take less than 10 minutes online to complete. In return, you receive a full results report with comparison data on best practices, a maturity rating against your competitors (peer group) and strategic recommendations. There is a complimentary benchmark you can take for Web 2.0 Marketing, B2B Sales, IT Infrastructure, Human Resources, Procurement and Corporate Communications. Your privacy is protected and you will not receive any sales follow-up calls.
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