7.1 Reach for Repeat Business

Achieve success time after time

Building loyalty among customers is vital. In industries where customer service is poor, there is no loyalty. This is where many successful entrepreneurs have leveraged an idea, by entering a market where providers are not delivering, where customer service is poor and where customer loyalty is low. By providing a new choice and backing it up with great customer service, these businesses have profited hugely.

Even the very best businesses suffer occasional customer complaints. It's how you deal with negative feedback that is important. Customer retention comes down to honesty. Tell your customers exactly how it is. If we haven't got a product available and it's not coming in, rather than lead a customer to believe it's going to be here, we'd rather be honest. This can mean losing a few customers for your honesty, but it works out in the long run.

The best entrepreneurs always deliver on the promises they make and on the rare occasions they do let a customer down, they do their very best at dealing with complaints. This goes back to putting the right people in place, the right training in place, and resourcing staff by giving them the right tools for the job.

Download this guide as a PDF

7.2 Sell persuasively and credibly

Make the most of selling

To state the obvious, if a product or service doesn't sell, a business won't succeed. Until an entrepreneur sells their product in a marketplace, there is no proof a venture will work.

But selling isn't purely about closing the deal. Selling is a process that goes through four key stages:

• attracting prospects
• gathering leads and referrals
• getting and keeping the prospects interested
• closing a deal by convincing them to buy

It doesn't stop there either. Once the deal is done and the customer is persuaded to buy, the product or service needs to be provided and contact followed up. In fact, the cycle begins again, gathering additional referrals and leads, attracting prospects, and so on.

Marketing deals with the initial stage of getting messages in front of the right people to attract attention. Sales deals with turning prospects into customers and retaining those customers, through effective follow-up.

In sales, there are many variables that need fine tuning to optimise results and reach targets.

You need the right:

• team
• product or service - the right solution
• tools and training for your team
• customer service
• audience

Each variable depends on each other. A great product may not sell well if the sales staff are poorly trained and equipped. Equally, a great sales team may struggle to sell a poor product.

Successful entrepreneurs hire sales staff who could sell ice to an Eskimo, but they don't put themselves in the position of having to sell ice to an Eskimo. They get all the factors right, from price and pitch to product. And, most important of all, they deliver on their promises.

One final, though important thought. It is vital to establish credibility between the seller and buyer. Credibility centres on delivering a promise. But it also involves acting fairly and ethically. I am convinced that ethical behaviour will ultimately strengthen a business in the long term and I have enshrined this value in my companies. There should be no alternative.

Download this guide as a PDF

7.3 | Discover sales force secrets

How my team sells

1. Focus on clear targets, objectives and rewards to deliver more than the competitionOne of the biggest reasons for the success my own company enjoys, is that we deliver more than our competition per capita head. We've got a very small sales team but we focus on that team going out to the market under a specific plan of attack.We know at the start of the year exactly what we want to achieve and how we're going to achieve it. Every month, staff are set very clear objectives which they're rewarded upon delivering. Because we're so focused we can deliver far more than if we instructed our sales force to sell ''as much as they can'' or if we gave them a basic commission plan.
2. Prepare your sales team. Take the Gladiator approach.Gladiators were successful because they were very well trained, well honed, and were given the right tools and strategies for the job. When a Gladiator stepped into the ring, they delivered 99 out of 100 times. Make your sales team the Gladiators. Give them clear objectives, the tools to deliver the job and the basic training that's required be more effective than your competition.Match that with a portfolio of products and solutions a clear understanding of the strategy behind the business, and your sales staff will maximise sales and reach targets.

   The more you get a spirit of co-operation, the better and faster the results can be with a small team of people.

3. Understand what excites and motivates each individual member of your sales team; it may not only be money. A happy workforce is a productive workforce. Create a united team and a spirit of co-operation.Understand what each sales team member is there to do and what excites them. Then put together a team where everybody works together, from the person putting the product portfolio together, to the person knocking on doors and selling. As long as they have fun and enjoy what they do, there's more of a spirit of co-operation. And the more you get that spirit of co-operation, the better and faster the results can be with a small team of people.
4. Empower your sales force with decision making responsibilities to deliver targets and feel valued.Many people are given a job purely as a function, with no power to deliver and make decisions on behalf of the company. I believe companies should live a bit by the sword and empower individuals to make decisions within a certain scope.Not only is this good for the customer, it's great for the individual to know they're valued and can make some decisions without having to refer to others.
5. Encourage communication between sales team members and your customers, but also with each other.
6. Get feedback. Use positive feedback to generate repeat business. Also use it as customer testimonials on your sales literature. Ask for referrals from happy customers. Use less positive feedback to fine tune your offering.
7. Deliver on your promises to customers and staff. Go the extra mile where necessary.

Download this document

7.4 Reality check: successful selling

1. Do you know who your target audience is? Have you segmented your target audience into groups? Have you profiled your potential customers and revealed any common features?
2. Do you know where your customers go to buy or find information on products or services such as yours?
3. Do you know how many sales it will take you to break even?
4. Do you know how you'll generate repeat custom?
5. Have you created a customer service policy?
6. Do you have a customer database package to store your customer details? Are you aware how you'll back up your data?
7. Have you thought about how you might use e-commerce to sell your products/services via your website?
8. Do you know how you will tackle each segment of the sales cycle? Have you a plan in place detailing how and where you will attract prospects; how you will deal with leads and referrals; how you intend to get your prospective customer's interest and how you/your team can close a deal?
9. Have you hired the right sales staff and prepared them adequately by providing them with the right training, tools, products and strategies?
10. Are you confident you can deliver more than the competition?
11. Do you know what makes each member of your sales force tick? Have you considered how they'll be rewarded and motivated?
12. Have you empowered your sales force?
13. Have you used feedback to fine tune your sales offering?

Download this document