The Selling Newsletter
The Selling Quote for the Month
“It depends on what the meaning of the word ‘is’ is.” Bill Clinton
If a smart guy like Bill has a hard time understanding what the meaning of the word ‘is’ is, then imagine the predicament your customers are in when you are talking about things that are much more complicated than a simple is. It fascinates me how many different ways there are for misunderstandings in communication to occur in sales. Words mean different things to different people. Some people use industry slang that means nothing to a customer. Some people speak before they think. Because communication is so tough, it’s that much more important for salespeople to focus on sending a clear message that’s easier for a customer to understand. Try to make your message visual. Can you show the customer what you mean? That helps understanding. Ask for clarification if you don’t understand something. If the message is misunderstood, I believe that the responsibility for understanding rests with the salesperson. Why? Because words are the tools of sales professionals. You have the training in listening and communication—or you should have. Customers are there to hear what you say and your job is to make sure they get the intended meaning. If you are doing it right, then an ‘is’ is just an is.
I’m now a guest columnist for the Dallas, Austin and Houston Business Journals. My column is called “Customer Connections.” I’ll be answering readers’ questions about selling. Do you have any selling questions? Send them to info@bestatselling.com
THE BLOG S AND OTHER COLUMNS
I’m now writing The Real Deal, a column on women in business for Allbusiness.com
Here’s a preview:
Would Have Been Nice to Know That
February 10
In the world of business there are a lot of those “aha” moments. They’re the times when you suddenly realize how the system works. Often it’s different than what you thought. It’s at that time, as you reflect on your previous lack of knowledge, and you say to yourself, “It would have been nice to know that.”
What do you think? You can post your comments, too. I would love to hear from you.
I’m also writing for salesmecca.com
Leave your comments and I would love to respond to you.
I’m now a guest columnist for the Dallas Business Journal. My column is called “Customer Connections.” I’ll be answering readers’ questions about selling. Do you have any selling questions? Send them to info@bestatselling.com
What’s sales tip has helped you be even more successful in sales?
Send your helpful tip to tip@bestatselling.com
The Selling Ideas for this Month
If You Want to Get Paid
Many a sales manager will tell you that the sale isn’t over until the check is in the bank. Of course they’re right. If you’re finding it difficult to get those checks to deposit into the bank, it’s time to think about what you can do to ensure that your customers pay you. Ben Ricci is President and cofounder of Stevens & Ricci, Inc. (www.stevens-ricci.com.) Ricci has spent more than 17 years working as a corporate credit manager, consultant and collection agency owner. He has the experience and insight to show you how to avoid customers who don’t pay.
Predictors of Success. Identify the customers you don’t want. Ricci says that certain information is critical to help eliminate the people you want to avoid doing business with. He recommends buying and using as a prescreening tool a CD by INFO USA called Power Business. The CD lists every business in the United States that is in the Yellow Pages. The CD contains customer information like phone, fax, sales range and how long they’ve been in business. Ricci says, “95% of all business failures occur in less than 5 years. Longevity is a good predictor that a company will pay their bills.” Another filter Ricci uses is size. If the company is larger it is more likely that you’ll get paid. Power Business contains sales range and number of locations which indicate the company’s size.
Talk to them. Ricci recommends conducting a credit interview where you actually talk with prospects about their business. Ricci finds that less than half the companies do this. Most companies ask prospects to fill out credit applications containing references and bank information. Even if the company checks the references, a reference check is less able to predict that the prospect will be a reliable paying customer. Ricci says, “The references on the credit application are only going to be the good ones. Why would they put the bad ones down?” Regardless, before the interview you should verify the information that the prospect provided on the credit application. Start the interview with a simple question that will give you information not easily uncovered from a database. The question is, “How’s business?” Ricci adds, “You would be surprised at what customers tell you. One said, “We’re kind of slow and we’re going to be closing one of our offices in the next two months.”” Ask about their number of locations and compare their answer to the Power Business information. Ricci believes the credit interview is a very important tool. He says, “By conducting the interview you give customers the opportunity to talk about their business and you may find out information that they normally would not tell you.”
Talk some more. Another technique is to call the prospect’s bank to determine the level of risk to you. If you’ve obtained the prospect’s checking account number on the credit application, call the bank and ask if they have sufficient funds to cover the amount that you think will be your prospect’s outstanding receivables. Ricci reports that only half the banks will provide this information. Then make sure your credit department is talking with you to get your first visual impression of the facility and its business. Your prospect may even have to pass the informal “Tall Men’s Shop in Tokyo” test with your credit department. If the business premise sounds likely to fail then credit may not get offered.
How do you know you have collected enough information to make a good credit decision? Ricci says, “With all this preparation a borderline case will always be a gut call by an experienced credit manager.” Just remember, with a little extra work on the front end, you’ll get credit extended to the customers who will pay you. Isn’t that’s an easier way to get the check into the bank?
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Action Items
1. Determine the characteristics of accounts that you do and don’t want to sell to.
2. Do one more piece of due diligence to make sure your prospects fit your credit requirements and are more likely to pay their bills.
Upcoming Programs
When : February 27
11.30 AM- 1:00 PM
Where: Blue Mesa Grill
Beltline Road,
Dallas, TX
What: Power Persuasion
For more information: 214-691-1948
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When : March 7
11.30 AM- 1:30 PM
Where: Small Business Development Center
4800 West Park Blvd.
Plano, TX
What: Effective Meetings
For more information: 972-985-3749 or
972-985-3758
Selling Tools
Selling Tips
Get more selling tips from Maura’s ebook: 97 Ways to Sell More Now E-Book
https://www.bestatselling.com/e-books.html
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Looking for new strategies to improve your persuasion skills? This easy to apply Audio CD will give you many new ideas to easily improve your persuasion skills so you can sell more and close business faster.
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I’m always looking for success stories and other tips from sales professionals. Please feel free to email me at info@bestatselling.com with ideas that have worked for you.
If you want to build customer relationships for long-term business, you can easily do it using Exacttarget (www.exacttarget.com) and their CANSPAM compliant broadcast services.
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Need an Article for Your Newsletter?
Articles from this newsletter may be used in your free publications or posted on your web when given the following credit:
Written by Maura Schreier-Fleming, Best@Selling (www.BestatSelling.com). Maura works with business and sales professionals who want to sell more and be more productive at work. She is the author of Real-World Selling for Out-of-this-World Results.
For free articles, selling ideas and morale boosters
visit https://www.BestatSelling.com
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About Maura Schreier-Fleming
Invite Maura to speak at your next conference or sales meeting! Contact: info@bestatselling.com
Maura Schreier-Fleming works with business and sales professionals to make it easier to sell more and be more productive at work. Her Best@Selling clients want to create long-term client relationships. They include Fujitsu, Fannie Mae and Dr Pepper/7UP. She has an M.S. in Textile Engineering from Georgia Tech and was Mobil Oil’s first female lubrication engineer in the U.S. With over 20 years of sales experience, she teaches the art and science of selling with a unique hands-on perspective and a great deal of real-life insight. She is the author of Real-World Selling for Out-of-this-World Results (a book filled with ideas to make selling easier and more productive. Her business column ‘Selling Strategies’ appears in the Insurance Record magazine and her column ‘Street Talk’ appears in Jobbers World. You can contact her for seminars at company or trade association meetings at 972 380 0200 or info@BestatSelling.com
Privacy: At Best@Selling we take privacy issues very seriously. Your information remains with us and will never be sold, shared, or distributed in any manner, for any reason.
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Contact Information
1. Our Web site: www.BestatSelling.com
2. E-mail: info@bestatselling.com
3. Call: In Dallas 972 380 0200
4. Write us:
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Dallas, TX 75248
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