April 20th, 2011
Today we wrap up our five part series on stimulating sales in a slow economy. Hopefully, you’ve already begun to implement some of the suggestions we’ve offered (if so, you’re almost certainly experiencing a boon in your sales!) If you have additional tips or suggestions, please feel free to post a comment here and share your ideas with us.
In this final installment, we’ll look at growing your reach. This is a fundamental concept to master, in any kind of economy, but especially when sales seem to slow down.
How can you grow your reach? Advertising might be the first thing that comes to mind, but if you’re already experiencing a decrease in sales due to the economy, you may not have any additional ad dollars in your budget (and adding more could be a hard sell to the corporate higher-ups). But advertising is not the only way to expand your reach.
If your business is primarily brick-and-mortar or local, consider expanding to include online sales. Many free and effective marketing strategies can be implemented, from blogging to article writing to social media marketing.
Conversely, if you mainly conduct business online, consider focusing some of your efforts on your local market. This can include free and low-cost marketing tactics such as public relations, local media interviews (which are free, as opposed to costly ad spots), flyering, coupons, drop cards, networking functions, etc.
Additionally, you may want to create supplemental services or products – these might include slight variations on existing products and services, but targeted at more of a niche market.
Finally, take a look at your greatest resource — your existing client base. It’s a known fact that once people buy from you, they are highly likely to buy again (especially if you delivered what you promised in the original sales offer). Therefore, it makes sense that you would contact your existing clientele to upsell, assist, presell future services or products, etc. Do not underestimate the power of selling to your existing client base!
Just to recap:
 Step 1 – Know your target market. Learning what makes them tick will help you identify what triggers will compel them to buy now.
Step 2 – Adjust your sales strategy according to what motivates your buyers.
Step 3 – Do what the winners do – cultivate the mindset of success. Look for evidence that people are buying right now.
Step 4 – Create a buzz – motivate sales staff, motivate buyers, and watch your sales go up and up!
Step 5 – Grow your reach by expanding your potential client base, adding supplemental services, and looking for ways to assist your existing client base.
We hope you have enjoyed this detailed look at ways to expand your sales during a slow economy. Remember, the best way to make a sound impression is by adding images and supporting evidence to your sales presentation, and what better way to accomplish that than with an LCD rental projector from Projector123.com? Nothing could be easier — just click here to rent a projector now and experience the Projector123.com difference.
April 18th, 2011
Here we are back with part four of our five part series on stimulating sales in a slow economy. In this installment, we’ll look at specific action steps you can take this week to motivate your sales staff and your buyers, thereby increasing sales dramatically and immediately.
 One of the quickest and easiest ways to increase sales is to create a buzz with the development of a sales contest. Motivate your sales staff, lay out the ground rules, and offer a major prize to the top winner.
If you can’t afford to offer a trip, electronics item or other costly incentive, don’t fret, just get creative. Here are some ideas:
- VIP parking
- First right of refusal for the next three major client leads
- Extra paid vacation days
- Etc.
Additionally, you can motivate your buyers at the same time (as mentioned in a previous installment) to create a double-whammy effect. This also serves to provide your sales staff with additional motivation to get moving and talk to their prospects. How much easier is it to sell when you can give your prospects a compelling reason to buy now? This is the ultimate win-win-win scenario.
Be sure to have a tracking mechanism in place, so that there is a clear winner for your contest, and remember to make it fun!
This concludes installment number four in our five-part series on stimulating sales during a slow economy. Why not create a stir during your next sales presentation or sales staff training event? It’s easy when you use an LCD rental projector from Projector123.com. Just click here to rent a projector now and find out why sales professionals across the USA prefer Projector123.com.
April 15th, 2011
OK we’re back with part three of our five-part series on stimulating sales in any economy. So far, we’ve explored the importance of understanding your target market, and using that intel to figure out ways to incentivize potential clients and compel them to buy today. But there’s a deeper, more existential component that we’d be remiss not to mention.
Successful entrepreneurs and business professionals cultivate a mindset of success. Put simply, these winners expect success, and act accordingly.
Look, have you ever noticed that the guy who always seems happy and cheerful seems to have more things to be happy and cheerful about? Or that the chronic complainer never runs out of bad luck and tough times, and has plenty more to complain about? The simple truth is that whatever you give your energy, attention and focus to will grow. So if you want to stimulate sales and grow your business (or your commissions), then it makes sense that you would expect to find buyers.
One of the easiest ways to do this is to look for evidence. Consider that the chronic complainer (and we all know at least one, don’t we?) has trained his brain to find things to complain about – he has an abundance of evidence that life is hard, misfortune abounds, etc. Using the same principle, the successful sales professional is the one who finds evidence of people buying, finds evidence that folks need what he/she is offering, and envisions himself/herself as a successful winner.
 Winners train their brains for success – they look for evidence that their goals are not only possible, but being achieved right now.
But if you believe we’re currently in a soft economy, how can you find evidence to the contrary?
Here are a few examples:
- the next time you venture out driving, notice how many new cars are on the road
- notice any time you have to stand in line to buy anything
- google the phrase “record sales this week” or “success stories”
- go anyplace where luxury items are sold and talk to the sales professionals – the fact is, fashion is on the rise, travel industry sales are up, and people are spending money every day on so-called “luxuries”
- notice how many cars are on the road, despite the rising cost of gas
In a nutshell, expect to find buyers, and you will find buyers. Believe that what you have to offer is valuable, and that people want to buy it now. And most of all, imagine your own success.
Be sure to return next time for installment number four in our five-part series on stimulating sales in a slow economy. In the meantime, click here to rent a projector from Projector123.com. An LCD rental projector will surely help you create a polished, professional presentation for your next sales appointment or trade show.
April 13th, 2011
Welcome back to part two of our five-part series on stimulating sales in a slow economy. In the previous segment, we talked about the importance of understanding the mindset of your target market – once you know where they are coming from, you can adjust your sales strategy to encourage more sales. But what will you do now that you understand them?
For starters, look at what’s not working. What sales strategies are you currently using that are failing miserably? Now that you understand your target’s mindset, you may see reasons why perfectly good ideas are falling flat right now. Perhaps you were offering a special on a one-year prepaid commitment, and nobody’s buying. In interviewing and talking to your target buyers, you may have learned that they are not making long-term commitments that tie up their funds because they are afraid of businesses (including yours) folding, which leaves them out of luck. Now you can understand why that brilliant idea just wasn’t working to bring in more sales right now. Get the picture?
One core concept to bring in sales in any economy is to incentivize your buyers – give them a reason to buy right now. This is a basic strategy that works wonders in the realm of online sales (but can be used in any kind of sales situation, from face-to-face to direct mail).
 It is human nature to procrastinate unless absolutely necessary. Cavemen walked – they didn’t run unless they were chasing prey or being chased. Animals don’t hoard food (or even start foraging for it) until they feel the pressure to do so, either because they are hungry, or because they can sense that winter is coming, and food will soon be scarce.
A wise man once said “The man who says ‘I need to get to the store’ still has milk in the fridge.” In other words, we typically don’t do things until it become absolutely necessary (or very smart, as in saving money or avoiding future pain) to take action.
You can use this same principle to encourage your potential buyers to make a decision right now and choose to buy sooner rather than later. This is why it is so essential to first understand their mindset – that way, you can see what is currently motivating them into action, and which actions they are being guided to avoid.
How can you incentivize your buyers? Here are just a few ideas:
- discount for buying now
- added bonuses / they get more product/service/etc. when they buy now
- they could miss out if they wait
- pay over time
- get something extra (or free) by referring a friend
- etc.
Take a look at what you learned from interviewing and surveying your potential buyers. What minor changes can you make right now in order to compel them to buy today? What are they currently motivated by, and how can you capitalize on that right now?
Have fun and watch your sales skyrocket as you begin to implement some of these winning strategies. Hint: these tips actually work in any economy, slow or otherwise.
Got an important presentation or sales appointment coming up? Put your best foot forward with a rental projector from Projector123.com. Click here to rent a projector now.
April 11th, 2011
In this five-part series, we’ll be exploring a number of ways that you can stimulate sales in this – and any – economy.
Haven’t you ever wondered why some businesses thrive while others suffer? This becomes especially apparent during leaner times and slower economy cycles. What if you could take a peek into the inner workings of these successful businesses, the ones that appear to be impervious to downward economic turns? Let’s see what we can learn from the winners.
 You might be tempted to assume that the kinds of businesses who do well in any economy are those that sell products and services none of us can live without – food, toilet paper, fuel. But this is not entirely the case. While it’s true that you are not likely to prosper in tough times if you focus on high-priced, frivolous items, you might still be surprised to learn that any industry can stimulate sales and perform well in any economy, if only they are willing to adapt to the current trends.
Right now, even though television news folks and other so-called experts are insisting that we are amidst a “soft economy,” many companies are posting record numbers – but only those companies who have learned to adapt to the changing tides.
Just pop into the Apple store in the middle of the afternoon on any weekday – you’ll find a retail store that is packed with buyers. The same is true for many online companies; by changing their approach, their strategy, and their understanding of the mindset of their target markets, they can actually post their best sales year to date.
So what are some of these so-called secrets? For starters, you’ll need to intimately understand your target market. Do they believe times are tough? What do they need right now? What do they most want? How are they responding to the news, to current marketing trends, to sales, promotions and other so-called incentives? What do they fear most right now?
You can glean this information in a number of ways:
- interviews / focus groups
- surveys (it’s easy to use an online survey tool like surveymonkey.com or you can always go old-school and mail out paper surveys, but expect a low response rate if you don’t offer an incentive for returning the survey).
- conversations
- ask your sales staff what they hear most often from potential buyers
By understanding your target market, you can find out what makes them tick, and thereby adjust your sales strategies accordingly. Otherwise, you’re taking shots in the dark, and that can become very costly!
Join us for part two of our five-part series on stimulating sales in a slow economy. In the next installment, we’ll look at what to do next once you have information about the mindset of your target market.
One of the best ways to make a professional sales presentation is with an LCD rental projector packed with compelling images of and information about your product or service. Click here to rent a projector from Projector123.com right now.
April 6th, 2011
What’s new these days in business? Let’s take a look at the current trends.
Giving Back
Many businesses are jumping on the altruistic bandwagon, donating a portion of profits (or a portion of sales of certain products) to charitable causes. In addition to receiving a tax break, it is believed that consumers feel good knowing part of their purchase is going to a worthy cause.
 Going Green
What was once a forward-thinking initiative is rapidly becoming a necessary step in social responsibility. More and more businesses are finding ways to run cleaner, greener operations, as well as cutting back on excess packaging and finding less impactful, less wasteful materials for packaging and shipping. Admit it, wasn’t it a brilliant idea to trade styrofoam peanuts for those little air-filled baggies?
Being Sneaky
Not all new trends are altruistic – in fact, some are downright sneaky. Perhaps the most widespread example of this is the new trend towards “downsized packaging.” No, not the eco-friendly efforts to reduce waste in product packaging, but rather, the shaving off of ounces or grams of product, without any change in price.
Ice cream may be the most recognizable example of this new trend. You may or may not have noticed that your favorite brand of ice cream is no longer available in a gallon size – the package may look the same as always, but now, it’s likely only three quarts that you’re buying (at the same old price, to boot!) Similarly, many half-gallon sized ice cream containers now only contain one and a half pints (but with price tags you’re accustomed to paying for a half gallon). Blue Bell ice cream is one exception to this new trend, and on the package itself it says “still a full gallon!”
Of course, ice cream is not the only product taking a cut – just check out sizing on staple products you buy all the time: cereal, deodorant, sodas, orange juice, and more. Savvy consumers are getting wise to these sneaky practices and we can expect buying habits to change accordingly.
The Next Trend
Why not set your own trend? Click here to rent a projector from Projector123.com and be the first on your block!
April 1st, 2011
This month, we continue our ongoing series on the Psychology of Sales, and this time, we address a core underlying issue: personal integrity.
But what does personal integrity have to do with succeeding in sales, you ask? Excellent question!
 You have likely met (at some point in your lifetime as a consumer) the kind of sales person who made your skin crawl. Whether they smiled too much, came across as fake or sleazy, or just weren’t likeable for some reason you “couldn’t quite put your finger on,” you did not want to spend any more time than necessary with this kind of sales rep. On the other hand, you may have had the pleasure of meeting the kind of sales rep who made you feel as though he/she genuinely cared about your problem and authentically wanted to solve it. You may have instantly felt a sense of trust, comfort, or ease with this kind of sales person.
In many cases, the sales professional who instantly comes across as trustworthy and honest is the one who possesses a high level of personal integrity.
According to Wikipedia’s definition, integrity refers to a “perceived consistency of actions, values, methods, measures, principles, expectations and outcome.” Personal integrity refers to this same level of consistency and congruency within a specific individual.
When a salesperson practices consistency of actions and values, it means that a sales rep who values honesty will speak, act and conduct business accordingly. Now can you see why you instantly feel at ease and trusting of certain sales professionals, but not of others? It has everything to do with their personal integrity.
But how can an individual sales person increase their level of personal integrity? This is certainly easier said than done. Increasing one’s personal integrity involves bringing consistency and congruency into all areas of life.
Some examples might include:
- keeping your car and home neat and clean
- practicing honesty in all your communications and relationships
- not stealing office supplies
- etc.
Can you see how these appear to have nothing to do with sales per se (it is unlikely that a prospect would ever see a sales person’s home), but have everything to do with maintaining a high level of consistency and congruency across the board.
It is not possible to maintain personal integrity part of the time. In other words, you can’t be honest and forthcoming in your job, but not your personal relationships, and expect to maintain personal integrity. It’s about demonstrating consistency across the board (especially when no one is watching).
Truly great sales personnel are always striving to improve themselves and raise their level of personal integrity.
Likewise, the best sales professionals know that audiovisuals can make or break a sales presentation. For your next major client pitch, why not rent a projector from Projector123.com? Our professional grade rental projectors are easy to set up and really take your presentation the extra mile with high quality outputs, total portability, and a sleek and streamlined appearance. Click here now to rent a projector today.
March 25th, 2011
As we round out the first quarter of 2011, you may find yourself looking for ways to boost your sales in a hurry to reach your quota or beat last year’s results. Never fear – there are plenty of ways to increase sales, and you won’t have to spend a fortune on advertising to do it.
Create a Buzz
One of the easiest ways to increase sales is by creating a buzz of some sort. You can do this via social media outlets (by running a promo for Facebook fans or Twitter followers, encouraging them to spread the word), inventing a contest (name our newsletter, give us your feedback, etc.), offering a reward for referrals (refer three friends and your next visit is free) or giving people some other reason to talk to their friends, family, and colleagues about your product or service.
Get Competitive
If you’ve got sales staff, it definitely pays to create a sales competition and offer a killer prize to the winner. This helps to motivate your sales folks and thereby increase sales. It can be as simple as a one-week closing contest, a one-month highest new sales contest, or even a one-day sales contest (depending on the nature of your business and how sales are conducted).
/>Incentivize!
One of the easiest ways to boost your sales fast is to give people a reason to buy today. Rather than relying solely on scare tactics (limited time offer, limited quantity available, don’t miss out, etc.), you can use incentives to give people a real and compelling reason why they must by today. Even if you conduct outside sales for a company and have no control over the prices or special offers associated with that company’s product or service, you can give prizes of your own (every new customer who buys today gets a free massage, lunch, consultation, car wash, Starbuck’s gift card, etc.) The prize should make sense both in terms of your product/service (don’t give a restaurant gift certificate if you’re selling a weight loss product, for example) and with regards to your commission (don’t give away a $100 gift card for a sale that only earns you $20 in commissions).
While you’re getting creative and implementing new ways to create more immediate sales, remember to count on Projector123.com for all your rental projector needs. Making a sales presentation? Trust the professionals at Projector123.com to provide a reliable, affordable LCD rental projector and put your best foot forward. Click here to learn more.
March 14th, 2011
Welcome back to the final installment of our series on creating powerful action plans. If you’ve been following our steps, you are already well on your way to having the key to successful accomplishment of your goal. In this segment, we wrap up a few loose ends and prepare you for leaping into action.
Schedule out Your Accomplishments
Now that you’ve created your action plan and shared it with your team, here is a simple tip you can use (and you can share with your organization) as an added measure to ensure that milestones and tasks get accomplished on time. Have each person grab their schedule or day planner or smartphone and schedule out their accomplishments.
For example, the person who is in charge of creating and overseeing the employee sales contest would take their specific action items and tasks and schedule them out in their planner. If the sales contest is scheduled to begin on April 1, the responsible employee would schedule an action item like this on the morning of March 31: email sales staff with an enthusiastic reminder about tomorrow’s sales contest. If each responsible party does this, you will be amazed at the success rate of your action plan.
/>Work Your Plan and Don’t Stop Until It’s Complete
Once your plan is established, shared with the team, and accomplishments are scheduled, the next step is simple: take daily action and follow up with responsible parties to ensure that everyone is doing their part. This step is absolutely critical to the success of your project and the achievement of your goal. Without follow-up, too many things can slip through the cracks and get missed. In some cases, missing just one milestone can be enough to set your entire project behind, which means missing the mark for your goal. Regular follow-up is essential in order to prevent this.
Change the Date if You Must, but Never Give up on the Goal
Occasionally, circumstances or unforeseen events can arise that throw a wrench in your ability to meet deadlines, complete tasks and achieve your goal. If this happens, do not get discouraged – revise your plan and continue working to meet targets and move forward. This is the key to maintaining momentum! Remain solution-focused and find a way to get there, no matter what. If you absolutely must, you may want to extend the target date for your goal, but never give up on the goal itself. In many situations, things shift in the final hours that create the possibility of a miraculous eleventh-hour achievement of the goal, but unfortunately, many people miss out on these “miracles” by giving up too soon. Stick with it and keep your team motivated!
We hope you have enjoyed this series on powerful action plan creation. Be sure to share your results with us – we love hearing from you!
Remember to reserve your rental projector from Projector123.com. This is perfect for sharing your vision, and for celebrating the achievement of your goal. Click here to reserve a projector right now.
March 11th, 2011
Welcome back to part two of our three-part series on creating effective action plans. In this segment, we give specific tips for choosing the action items in your plan, keeping everything relevant and manageable.
Once you’ve created measurable milestones, the next step is to create a list and accompanying timeline of specific action items or tasks to complete in order to hit those milestones. This can be accomplished quite easily by starting at the end (the accomplishment of the goal) and working your way backwards to present day and circumstances. Just as we did with our prior example, we looked at the total goal of $200,000 in sales, and we evaluated our current progress thus far ($20,000) and then we calculated how much more we needed in sales, and allocated that monthly to figure out what we’ll need to accomplish each month in order to hit the target. This can be done with any project or goal, over any time period.
Break Large Tasks into Smaller, More Manageable Chunks
Some tasks or milestones may seem more daunting to achieve than others. That’s when it makes sense to break larger tasks down into smaller, more manageable chunks. For example, let’s look at how we would achieve sales of $20,000 per month (when so far this year in our example, we’re only averaging about $7,000). We might consider some of these options:
- upselling existing client base on complementary products or services that would benefit them at this time
- preselling future contracts at a discount or with some other benefit or incentive attached
- creating a powerful sales contest to motivate sales staff
- rolling out a new product or service
- etc.
Any or all of the above may or may not be feasible, and may or may not be the best course of action to dramatically increase our sales. Once this brainstorming session is complete, the next step is to select the most feasible ideas and put the corresponding action items into your plan. For example, if you choose to create a powerful sales contest to motivate sales staff, then the next step is to plan the contest, decide on the prizes and the rules, get approval from upper management, decide on the start and end dates, call a staff meeting to announce the contest to the sales staff, etc.
Put Timelines on Everything
No matter what action items you choose for which phase of your action plan, it is essential that a time frame be attached to absolutely everything. Without specific time frames and deadlines, work will definitely expand to fill the time allotted, and some tasks may never get completed.
Create a Visual Representation
Once you’ve created your action items and set a specific timeline, the next step is to create some type of visual representation of your plan. You might use a flowchart, a Gantt chart, a spreadsheet, or some other type of business tool to accomplish this. Then you’ll want to share that visual display with your team and ensure that each person understand their role in the accomplishment of these milestones.
Be sure to return for the final installment of our series on creating effective action plans. In the meantime, it’s not too soon to reserve a rental projector for the rollout of your vision. Click here to visit Projector123.com and reserve a projector for rent today.
« Previous Entries
Next Entries »
|
|
|
|
|
©2009 Projector123.com
All Rights Reserved.
|
|
|
/>
/>
