Monday Mornings with Madison

Category Archives:
Sales

October 21, 2013

Skills for Success

Issue #302

The ability to start and maintain a conversation can be even more important to a person’s success in business than grades in school or college. In a study by Stanford University’s School of Business, students who had graduated with a Masters in Business Administration (MBA) were contacted 10 years after they graduated to gauge their success. The study found that the grade point averages of graduates had no bearing on their success — but their ability to make conversation did. The most successful graduates were those who could make conversation with anyone — from acquaintances to business associates and from total strangers to good friends.

To many, starting and maintaining a conversation comes as naturally as breathing. But for others, the art of conversation is just that… an art form they can recognize and respect, but not replicate. For those who struggle to hold natural, engaged conversations, the gift of gab is viewed like unattainable talent such as Van Gogh’s ability to capture movement on canvas or Beethoven’s ability to evoke emotion through music…. beautiful and uplifting but not doable. However, for many in the business world, the ability to communicate fluidly and effortlessly is an invaluable skill. Is it possible for someone shy, tongue-tied or insecure to become a masterful conversationalist? It starts by understanding the three reasons for conversations and the five rules that make for good conversationalists.
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October 14, 2013

Fake Reviews – Part 2

Issue #301

With the advent of the Internet, word-of-mouth referrals, written recommendations and printed reviews have spread into the online world. All manner of websites now allow consumers, experts and trusted sources to write reviews about any product or service… or person, for that matter. Such sites abound including Linked In, Yelp, Trip Advisor, Angie’s List, Urbanspoon and countless others. They allow people to rate everything from restaurants and hotels to retailers and professionals. The problem is that as much as a quarter to a third of all online reviews are totally fake.
Some companies spend a lot of time and money to get good fake reviews or generate bad reviews for competitors. Why do they do it? Is it really all that beneficial to the business? And, if so, what’s to stop all businesses from writing fake reviews until no reviews – even legitimate ones – will have any credibility? Continue reading →

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October 7, 2013

Fake Reviews – Part 1

Issue #300

It’s been said that people do business with people they know, like and trust. That is considered by many to be a basic truth of business. The key ingredient of that formula is trust. Customers want to do business with companies that they trust will do a good job and treat them fairly and courteously. Long before the Internet, consumers used the old-fashioned but reliable method of identifying worthy vendors: Word-of-Mouth. It was understood that past performance was the best indicator of future behavior. From doctors to department stores and from Realtors to restaurants, people would frequent nearby businesses recommended by a family member, friend or colleague. A business that was highly recommended generally could be trusted to deliver a good product or service.
With the advent of the Internet, however, consumers had more choices of companies with which to do business, including companies that were much farther away than their neighborhood. The global village offered more choice but with it also came the challenge of knowing which businesses to trust. The old-fashioned method of identifying worthy vendors was updated for the Internet age. Word-of-mouth referrals evolved into online customer reviews. To facilitate the process, websites sprung up that allowed consumers to write reviews about their experience with that business. Sites such as Yelp, Trip Advisor, Angie’s List, Urbanspoon, Chowhound, and others, allowed customers to rate vendors; everything from restaurants and hotels to retailers and professionals. Problem solved? Not exactly. It now appears that as much as 25-33% of all online reviews are completely bogus. Called astro-turfing, the problem of fake reviews is a growing. Continue reading →

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September 30, 2013

Dressing for Success

Issue #299

While it’s been said many times that one shouldn’t judge a book by its cover, marketers know that people do just that. That’s why product packaging plays such a pivotal role in product sales. Product packaging designers know that looks matter, and without a properly designed package a product is hard to sell regardless of how good its other attributes might be. Indeed, packaging design represents what the brand stands for as much as other elements of the brand visual identity do, and in certain cases the packaging is almost as important as the product itself.

This applies not only to the sale of products. It also applies to the most valuable resource any business has… its employees. Career coaches and HR experts agree that applicants should dress for the job they want, not the job they currently have or last had. Applicants are evaluated first by their appearance, which is a key part of body language. Employers want to hire someone who ‘looks the part.’ But ‘dressing the part’ applies not only to those seeking employment. Dressing for success is a personal philosophy that everyone in the workplace should adopt. While office attire has certainly changed over the years, giving rise to ‘business casual’ and ‘casual Fridays’, how employees dress for work still matters. Here’s why. Continue reading →

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September 16, 2013

Untying the K”nots”

Issue #298

What is standing between you and success? Is it a person, place or thing? For many, a person is the biggest obstacle to achieving their greatest dream. It might be an enemy or nemesis. Or perhaps it is a competitor. Or it could be a coworker. It might even be someone much closer, such as a friend or family member. But for some, it is someone even closer than that. For some, the most daunting impediment to achieving their goals is their own face in the mirror. That’s right. For some, the biggest barrier to achieving their dreams is themselves and the negative self-talk inside.

For some, the knots binding them from achieving their wishes and dreams are in their mind and heart. They are bound by the have nots, can nots and do nots in their own minds. They are anchored by the will nots, may nots, and might nots that have affixed themselves to their hearts. They are tethered by the could nots of the past, the should nots of the present and the anticipated would nots of the future. The “nots” in their thinking become the actual knots that bind and obstruct their path to happiness and success. Most importantly, the am nots, especially thoughts such as “I am not good enough” hold people down. And if you think that positive thinking and positive self talk is just a bunch of nonsense, think again. There is scientific proof that positive thinking has a powerful positive effect and negative thinking has a powerful negative effect. Continue reading →

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August 19, 2013

101 Questions to Ask When Considering Marketing Strategies

Issue #294

The best marketers know that, when it comes to marketing, variety is necessary in order to cut through the fog of competition and the vast noise of the marketplace and be able to reach each customer where he or she lives. Regardless of the industry, there is no single marketing channel that is best. The key to successful, long-term marketing is to reach people in the myriad of ways in which they prefer to receive or are most open to accepting messages about products or services. Just as people come in all different shapes, sizes, colors, religions and cultures, so do their preferences for interaction and their receptivity to messages. Some people prefer email promotions. Others look at direct mail circulars. Still others are influenced by billboards. And others listen to radio ads. Some even look at good, old-fashioned print ads.

A marketing channel that is totally ‘outdated and passé’ to one person, such as a branded desk calendar, might be ‘old-school cool’ or just plain practical for someone else. And a new edgy marketing strategy that may make no sense to one person, such as mobile ads, may hit the bulls-eye with someone else. The key is to not fall into the trap of thinking “This doesn’t speak to me, so therefore it won’t appeal to anyone else.” The smartest marketers keep an open mind.

But keeping an open mind and embracing variety has a price. While a diverse marketing program is important, that approach – if unchecked – can also be prohibitively expensive. Given the ever-broadening number of marketing channels available, it is impossible to advertise or promote a company everywhere all the time. So how does one decide which strategies to try and which to ignore? It is a matter of analysis and assessment. The first step is to ask a lot of questions. Continue reading →

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August 12, 2013

In Search of The Best Marketing Channel

Issue #293

It’s been said that variety is the spice of life. Different strokes for different folks. To each his own. These expressions all communicate the fundamental truth that every individual has their own preferred way of doing things or approaching life. What resonates with one person may make no sense to someone else. What one person loves, another may detest.

Take, for instance, how people like their steaks cooked. Some like their steak cooked ‘medium’ which is pink at the center. Others like their meat a little less cooked, ‘medium-rare’, which is pink with a little red in the center. Still others go in the other direction and want a steak ‘well-done,’ cooked through until the meat is gray (which typically offends chefs and gourmands). At the other extreme, some prefer their steak so rare that it might still ‘moo’ on the table. So which customer is right? Is there one best way to cook a steak? When it comes to the restaurant business, the answer is that there is no single ‘right way’ to cook a steak. While chefs may have an opinion on the optimal temperature to cook meat, restaurateurs understand that they must serve it however the customer prefers. The customer – who is paying for the food — should get what they want the way they want it… and preferences vary greatly.

Is that also true of marketing? Is there one best way to deliver a marketing message to customers? Or do preferences vary greatly? If you ask most anyone in business about marketing, they likely will tout the virtues of one or two particular marketing channels above all others. Indeed, company leaders are perpetually in search of the single ‘best’ marketing channel. And they will argue vehemently in favor of the one they deem is ‘best.’ But is there one marketing channel that is consistently superior over all others? Continue reading →

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July 15, 2013

To Get Satisfied Customers, Start By Controlling Expectations

Issue #289

No matter the business or industry and no matter if they are referred to as clients or customers, the key to their satisfaction often starts long before the product or service being provided is received. Customer satisfaction actually begins with expectations… and those expectations are often set by salespeople who are trying to make the sale. But if a customer’s expectations far exceed or outstrip the level and quality of the good or service to be provided, it is inevitable that the client will be disappointed or worse. If high expectations can result in disappointment, then the logical conclusion would be to lower customer expectations. The problem is that if a customer’s starts out with low expectations from a company, there is a good chance they won’t be patronizing that establishment much longer. What is a company to do?
The first step is to understand that clients can be demanding and will sometimes have expectations that are unreasonable. Unmet expectations, even if they are totally unreasonable, are a recipe for unhappy clients. Setting (finding the happy medium between overpromising and under-delivering) and controlling client expectations is one of the best things any professional can do whether an attorney, Realtor, mortgage lender, property owner, or accountant. etc. There are steps to ensure you have a happy and satisfied client at each stage and the conclusion of a matter. Continue reading →

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May 27, 2013

It’s Showtime – Part 2

Issue #282

Once again, you or your company is sending a team to attend the biggest trade show or conference of the year. The top salespeople have been approved to attend. A lot of pre-planning was done to ensure that the company’s investment in sending a team to the show will generate a great return. After all, management will want to know after the show if the money spent was worthwhile. It is important to ensure that attendance at any trade show generates a solid return.
Preparing in advance is the first step. Everyone on the team needs to understand the goals for the conference and that the conference experience should improves business and enhance the bottom line. Here are practical tips for staff to get the most out of every trade show or conference attended. Continue reading →

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May 20, 2013

It’s Showtime… Almost!

Issue #281

Every serious profession in the world has a multitude of trade shows and conferences catering to the sales, marketing, networking and professional development of its members. While there are always local, regional and state shows, each national trade association has one monster annual show that is not to be missed.

Trade shows and conferences serve a multitude of purposes. They facilitate sales and sales pitches from a wide variety of vendors and businesses. Potential buyers can shop around while vendors get to show off what they have to offer. Attendees are also able to interact with many vendors of products and services in one concentrated location. Vendors also benefit from being in a place with so many potential customers. They have the opportunity to see what their competitors are doing, and if they are being successful at it. They can also gauge if new market trends are worth following. A business can create a new image or reinforce an existing brand. It also provides an excellent opportunity for vendors and attendees alike to gain new knowledge by receiving tips, tools, and strategies. For start-ups, trade shows and conferences are an excellent way for the business to make themselves known and for their leadership to learn more about the industry. Conference attendees are also able to attend a multitude of seminars and roundtables to help sharpen the saw.

That said, it is not enough to just show up at the show and soak up the ambiance in a scattered, haphazard way. To get the most from a conference or trade show, it is important to prepare for the show well and then leverage every opportunity once there. While it is usually clear what a vendor must do to prepare for a show, it may not be so obvious as to what an attendee should do to prepare for an important show Continue reading →

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