Eavesdropping

“Statistics suggest that when customers complain, business owners and managers ought to get excited about it. The complaining customer represents a huge opportunity for more business.” –Zig Ziglar

When we opened our office up a little more and added more cubicles, the Customer Service remained in the original spaces, while the entire Dealer Support team moved over to the new workspaces. Except for me. I stayed where I can hear what’s going on in many parts of the office.

Now Terry teasingly calls this eavesdropping — and I suppose he’s right, but don’t tell him I admitted it. I guess I like to think of it as opportunity-seeking! When I hear Monica or Krystal discussing a customer-related issue or Tonya and Kelly mulling over a common contract problem, it gets my wheels turning too. I see opportunities to make improvements on what we offer customers and dealers or to make certain processes smoother.

When you hear customers complain, what is your first reaction? Is it to be defensive? Or is it to take action? Customer complaints are bright, flashing signs pointing to how you can improve your products and services. When you can take advantage of these, you’re making leaps and bounds past the competition.

What do you hear when you eavesdrop on your salespeople, delivery drivers, customers? What can you do?

Scott’s Thoughts: How to Win Friends and Influence People

How can you apply these principles to your sales?

Price vs. Value: Self-Evaluation (4 of 4)

Image courtesy of http://www.resumepower.com

As business people, we cannot talk enough about the difference between “price” and “value.” It’s a concept we must constantly re-teach ourselves, because in a world of bargain bins and big-box stores, it’s easily forgotten.

This blog entry is last in a series on that very topic.

After you have taken a value-driven approach to sales, you should take time for a self-evaluation. Based on your evaluation, tweak your presentation. Try new methods of focusing on value over price.

Ask yourself these questions:

• Have I really listened for the true needs and expectation?
• Can my product or service meet or exceed these needs?
• Is there an alternative method or better product that would be better suited?
• Have I determined expected product use?
• Have I made purchase recommendations based on the information?
• When they compare your product to competition are the differences obvious?  Is it easy to justify the higher price?
• Make sure it is good for you, company and customer. You want a win-win-win situation.

In what other ways can you evaluate your sales approach?

Scott’s Thoughts: An Introduction

Hello, Dealers!

I’m new here on the blog, so please be patient as Brian and Jacque help me learn to do this.

My goal is to do a weekly video blog to share with you here. You’ll also find the videos on our YouTube. We want you to comment and interact with us. If you want these videos to come to your e-mail inbox automatically, type your e-mail address in that box under “Email Subscription” on the right side of this page. Then click “Sign Me Up!”

Now it’s your turn to share. How can we make these videos helpful to you? What do you want to hear us share about?

Price vs. Value: Presenting Your Product (3 of 4)

Image courtesy of http://www.heritagelog.com

As business people, we cannot talk enough about the difference between “price” and “value.” It’s a concept we must constantly re-teach ourselves, because in a world of bargain bins and big-box stores, it’s easily forgotten.

This blog entry is the third in a series on that very topic.

At this point we’ve talked about focusing on value instead of price and how to prepare for value-focused sales.

Now, let’s discuss how to present your product to the customer in a way that best showcases its value.

• Spend the most time asking questions. Listen to what they say. Determine what they need or want. Understand their values. Take notes.
• If they aren’t volunteering information, ask permission to share your product’s value. If they are not talking, ask, “May I share with you a few reasons why our building has more value?”
• When talking with them, build value throughout the conversation. When you stress expertise, knowledge, etc., you make price less of an issue.
• Sell the benefits of your product. Explain your product’s quality and performance; the product’s unique value; service and support after the sale; financial impact; your knowledge and expertise; peace of mind; ease of doing business.
• Use the term “investment.” Don’t use “price” or “cost.”
• Boost the benefits of paying for value. How much will they spend in repairs for the cheaper product?
• Do not oversell. When they say “yes,” write the order.

What are other ways to present your product’s value?

2011: A Look Ahead

You already read my review of what happened in 2010. Here is just some of what we at BLI are looking forward to in 2011.

We will launch our online contract-submission process. We are hard at work at this (along with our web developers and software company), preparing to enter the testing stages. We hope to introduce it to you within the next two months. For you, it will look like the Dealer’s Area got a facelift and great new features — and there will be a shorter turnaround on funding to you.

We will make more progress on marketing pre-leased barns online to generate leads for you. We hope to build another page on our website where customers can view photos and information about pre-leased barns on your lot. It will feature a system that sends customers’ information to you so you can contact them.

We will introduce weekly videos from Scott. Many of you enjoy hearing from Scott, and you’ll be able to see weekly videos from him as he shares advice on sales, leadership, business, personal growth and more.

We will increase the number of due date options for customers. We’ll have details for you soon.

We will begin sharing feedback from customer surveys. In the Dealer Survey in July 2010, most of you said you’d like to hear what customers have to say about you, so we will develop a way to get that to you.

We will continue to expand into new states. At this time, we are looking into Louisiana, Tennessee and Mississippi.

We will continue spending time with you. As I said last week, Terry alone covered more than 25,000 miles to visit you. We will continue these efforts, and we are also preparing to offer training via the Web.

We will invite you to our house. In May, we will be a host site for viewing the Chick-fil-A Leadercast. You will be invited to join us for a BLI Open House, sessions with Scott and other members of our team, dinner (on us!), the Leadercast, and more. We’re working on the details, so stay tuned for those and tentatively mark your calendars for May 5 and 6.

After an eventful 2010, and with exciting things close on the horizon in 2011, we are optimistic about the new year. We hope you are as excited to be a part of it and as eager to see what else is in store as we are.

Many blessings to you, your families and your organizations in 2011!

Price vs. Value: Preparing the Presentation (2 of 4)

Image courtesy of homebuildingremodeling.com

As business people, we cannot talk enough about the difference between “price” and “value.” It’s a concept we must constantly re-teach ourselves, because in a world of bargain bins and big-box stores, it’s easily forgotten.

This blog entry is the second in a series on that very topic.

We know how price and value differ. We know which is most important to focus on during a sales presentation.

But how do we go about doing that?

• Differentiate yourself as a person. Create a positive first impression, both for yourself as a person and for your business.
• Convey responsibility, concern and confidence. You are a knowledgeable professional with integrity.
• Know your product and its value. Be familiar with features and benefits and how they apply to the customer.
• Know your competition. Understand and demonstrate your unique selling position. What makes you different from your competitors?

What other steps can you take to prepare for a value-driven sales presentation?

2010: A Review

Illustration by Jacque Haag

As the first week of 2011 is drawing to a close, it seems like a good time to reflect back on 2010 — to see what we accomplished. This gives us a great perspective as we look ahead to what 2011 holds for BLI Rentals.

Journey back with us:

We promoted Renee’ to Customer Service Manager in February. She now oversees both the Customer Service and Dealer Support staffs.

We made several new hires. Jacque came on as our Communications Coordinator in March, Chrisy as a Customer Service Rep in June, Steve as a Controller in June, Kelly as a Dealer Support Rep in November, and Krystal as a Customer Service Rep in November. (Chrisy has since moved to work alongside Will as an Accounts Manager.)

We got started in social media. You wouldn’t be reading this if we hadn’t started our blog in June, and we also have a Twitter.

We gave our phone system a makeover in June. This included a special Dealer Support line just for you and switched to a fax machine that “prints” digitally to our computers (one more step toward paperless).

We asked to hear from you in July. We conducted an extensive Dealer Survey to find out how we are doing as Your Rent-to-Own Source and how we can do better. We had great responses and started new projects based on the results.

We grew, moving into New Mexico, as well as several states in the Southeast, including Alabama, Florida, Georgia, North Carolina and South Carolina. In 2010, we added about 15 new Dealers to the BLI Team.

We expanded our office workspace too. In October and November, we remodeled, making room for nine new workspaces.

We began work on a totally online contract-submission process. Even before asking for your feedback in the Dealer Survey, we started making inquiries to software companies and web developers in June. We are looking forward to presenting this updated Dealer’s Area to you within the next couple months.

We spent time with you. Terry alone covered more than 25,000 miles visiting you in 2010, and Scott and I also traveled the country visiting Dealers and prospective dealers.

It is important to look back and see all that has been accomplished. I often get bogged down with what I still need to do, but it is great to celebrate mile markers and accomplishments.

We feel quite blessed to have had such a rewarding 2010, and we look forward to another great year working and growing with you! Stay tuned for my next post on our look ahead at 2011.

Please share your memories and experiences with us in the comments below. How was your 2010?

Price vs. Value: The Facts of Life (1 of 4)

As business people, we cannot talk enough about the difference between “price” and “value.” It’s a concept we must constantly re-teach ourselves, because in a world of bargain bins and big-box stores, it’s easily forgotten.

This blog entry will be the first in a series on that very topic.

Years ago I saw a comic strip. Two bums (“homeless people,” to be politically correct) were sitting on a park bench. One said to the other, “I was always a low bidder.”

As salespeople we do not want to get in a price war. If price is an issue, then we haven’t separated ourselves from the competition. How many of us would be comfortable purchasing the cheapest barn? Would we as salespeople be proud to sell the cheapest product? If we have the lowest price, are we giving the impression our product is inferior?

Customers are willing to pay more if they feel they are getting more for their money. The bitterness of poor quality lasts long after the sweetness of a cheap price is forgotten.

Here are David Yoho’s 12 Facts of Life for selling to a price-conscious buyer:

1. There will always be someone with a lower price.
2. There will always be price objections.
3. You will always lose some business to lower prices.
4. Everyone wants a great deal.
5. Negotiation begins at the moment of first contact.
6. If the alternatives appear the same, decisions are usually made on price.
7. Trust and credibility probably outweigh the issues.
8. You have to sell by price, pressure or personalization.
9. Unsupported claims detract an unequal amount of value.
10. The party who knows the most about the other has the power to control.
11. You have to know when to say “no.” You have to be able to afford to say “No.”
12. Time is usually critical to value.

I’ll let you chew on those. In my next entry, I’ll talk more about preparing for a sales presentation in which value is stressed more than price.

What “Facts of Life” could you add to Yoho’s list?