Contact Frequency

People often ask, "How many calls can we make on a prospect before going over the line?" Here are a few guidelines...

First, be consider research data indicating that approximately 80% of those involved in business development approach prospects two or three times and then give up.

Now, consider the importance of these National Sales Executive Association stats regarding the importance of following up:

• 2% of sales are made on the 1st contact
• 3% of sales are made on the 2nd contact
• 5% of sales are made on the 3rd contact
• 10% of sales are made on the 4th contact
• 80% of sales are made after the 5th contact

What these combined statistics tell us is, quite simply, 90% of new business is won by 20% of the sales people!

Next, consider the fact that sheer “frequency” does not guarantee success. Each contact must be “value-added” in order to properly impact your target prospects. This requires research, planning and good communication (probing & listening) skills.

Considering this information simultaneously, the best answer to the call frequency question is that we “cross the line” when our calls have no value for the prospect or customer.

What "Do" They Think?

What would you like your customers and colleagues to think and feel about you and your organization?

We have asked hundreds and hundreds of people this very question over the past ten years and, believe it or not, the answers are remarkably similar. But before we divulge what most people say, how would you answer the question?

If you'd like to give this some thought and, possibly, be surprised, then take a few minutes to jot down ten things you'd like others to think and feel about you and your organization. (More on this later...)

More Importantly...Driving Word-of-Mouth
Maybe of greater significance, how important is it? Many business owners and managers tell us it's very important; and if you agree, how will you impact or influence what others think and feel about you and your company?

This is, after all, the key driver of word-of-mouth advertising!

If you have made a list, we'll ask you now to review the list and answer one more question: Of the words on your list, how many can you actually say, with any degree of comfort, in a typical business conversation?

Surprise?
Now for what might be the surprise... after people have made their list of what they would like others to think about them and their oganizations, and how they would like to make others feel..., we then ask them the question posed in the previous paragraph - that is, "how many of these things can you actually say, with any degree of comfort, in a typcial conversation. Belive it or not, most people reply, "Not many..." *

While there may be many ways to affect what people think about us, the facts are that, when it comes to word-of-mouth, we can't buy it and we can't overtly talk about it or force it upon others; instead, it is a function of how we behave and communicate over time. So, consistent with the theme of our first article (above), having a strategic plan for impacting what others think might be a good idea after all...

* Click here to see the most-frequently given answers to the question, "What would you like customers and colleagues to think and feel about you and your organization?"

Growth Through Strategic Customer Service

There are many components to business development and many ways to grow revenue – and strategic customer service is definitely one of the often-overlooked pieces of the puzzle.

As we've suggested in previous posts, growing a business or sales territory is hard work, especially in more challenging economic times when referrals and leads are less plentiful, customers are spending less and the competition is tougher; and it is especially in times like these that the value of a customerbecomes most clear.

Assuming there are no extenuating circumstances such as a poor payment history, the simple rule is that we should do everything within our power to avoid losing a customer... and providing consistent, high-quality customer service is critically important to that end.

When asked, most people say they do their best to provide good customer service. However, the methods vary sigificantly and tend to be inconsistent. To maximize the effectiveness of your team's customer service effort, it's best to develop and implement a measurable, strategic approach that leverages your organization's unique benefits and that can become both consistent and cultural.

Simple & Strategic
Creating a plan, setting goals, enhancing communication and monitoring results are the key elements of the process. Here are some specific ideas on how you might get started:

• The first step is to learn three key things about your customers what they like, what they don't like and how they feel about your organization
  
• Next, identify your organization's unique offerings from a products and services perspective (what you offer/do) as well as a cultural perspective (how you offer/do it)
  
• Note the alignment between these first two items, and then determine the things associated with your culture and unique offerings that your customers value the most: the real benefits
  
• Develop a communication style that expresses these benefits in terms that are relevant to your customers (rather than to you and your staff)
  
• Define action steps that exemplify and reinforce your group's culture; keep in mind that in most cases an organization's most distinguishable assets are people
  
• Create and implement a system in which your organization consistently executes the action steps and communicates in the style noted above
  
• Monitor and measure results... continually discuss and refine the process; regularly include this topic on staff meeting and sales meeting agendas

Growing a business or sales territory is not easy work, but it will become easier if we can delightand retain our customers.

Possibly Matthew Tashjian, a Senior VP at Merrill Lynch in Hartford, CT sums it up best as he often says, "One way to make money is to not lose any!"

Annualized Business Development Plan

Do you have an annualized business development plan? If not, read on because having such a plan can make the difference between success and failure or between a good year and a great one!

First let's define the terms. An annualized plan is simply a schedule of which activities will be done and at what time. Plotting this information by month allows you to take advantage of any seasonal opportunities, and also to determine overall time and cost commitments. Business development is a multi-faceted practice that keeps your business moving ahead. It consists of various components, including:

• Promoting your organization to develop a presence in your marketplace
• Identifying new business opportunities with known and unknown prospects
• Generating new business from prospects
• Generating new or incremental business from clients
• Business retention
  

A close review of this list reveals three very important facts. First is the fact that our customers and clients are also prospects for new or incremental business.

Second, there is a big difference between "identifying" business opportunities and "generating" them. While the former might, at times, be easier to accomplish, both activities are essential. Successful business development, therefore, requires a combination of marketing and selling skills. Other requirements include time management, organizational skills and a positive attitude.

The third key fact, simply stated, is "one easy way to get business is to not lose business!" Customer retention is an important element of every business development plan, because any lost business must be made-up if we are to achieve our overall goal.

Now that we've identified the basics, you can review a simple five-step plan on our web site .