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Competitive Edge Presents
Orvel Ray Wilson, CSP Sr. Partner THE GUERRILLA GROUPinncc
Presented by: Presented by:
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It’s a Jungle Out There!
Economic Uncertainty
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It’s a Jungle Out There!
Economic Uncertainty Further Cutbacks
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It’s a Jungle Out There!
Economic Uncertainty Further Cutbacks Demanding Customers
Slide 7: More More More
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It’s a Jungle Out There!
Economic Uncertainty Further Cutbacks Demanding Customers Pressure on Prices and Margins
Slide 9: Slowly but Surely
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What do we Mean by “Guerrilla”?
Slide 12: The most successful marketing series in history:
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Time
4 to 1 Golden Selling Hour Don’t waste a lunch Make one more stop
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Energy
–Eat Right –20 Minutes a Day –Time Out –Reward Yourself
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Imagination
Think Big Think Small Visualize Success Idea-of-the-Week Book
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Guerrilla’s Secret Weapons
Information
–Industry research –Competitive Recon –Customer feedback
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Build Your Own Survey
Limit 1 Limit 10 No Fill in the __________ Fax (or e-mail) Back Share the Results
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Guerrilla’s Secret Weapons
Surprise
–Do the Unexpected –Tell the Truth –Personalize Everything
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10 Strategies to Increase Your Sales Immediately
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1. Investment
The Law of The Slight Edge: “The difference between a champion and an also-ran, more often than not, is a very slim margin.”
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1. Investment (cont.) (cont.)
People Technology Yourself
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Invest in People
Hire first for Attitude
–Jack Welsh 20/70/10
Train Constantly Resource Center Outside Seminars Outside Expertise
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Invest in Technology
Digital Camera Wireless POS E-mail Web site Social Media
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Invest in Yourself
Join Professional Groups Master Mind Build Your Library Study the Masters
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Invest in Yourself
Browse to:
www.GuerrillaGroup.com Mouse over “Press Room” then click on “Competitive Edge” OrvelRay@GuerrillaGroup.com
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2. Consistent
“Poor selling done consistently will be more effective than great selling done sporadically.” Consistency is interpreted as longevity, credibility, and trust.
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Why Customers Quit:
15% quit for quality - found better product 15% quit for price - found cheaper product 20% quit for lack of contact or individualForum Corporation study of commercial customers Forum Corporation study of commercial customers lost by 14 ized attentionservice companies. lost by 14 major manufacturing and service companies. major manufacturing and
Slide 28: He’s on another line
“He’s on another line at the moment, would you like to hold?”
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3. Confident
“Guerrillas believe in their products and their people.”
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Why Customers Buy:
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Why Customers Buy:
Confidence Quality Service Selection Price
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Why Customers Buy:
Confidence Quality Service Selection Price
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Why Customers Buy:
1. 2. 3. 4. 5. Confidence Quality Service Selection Price
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“I’ll tell you why I don’t trust him. It’s that damn sheepskin vest.”
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3. Confident (cont..) (cont..)
Expect the Sale Collect Testimonials Don’t play price games.
Slide 36: Low Bidder
“How did I go broke? I was the low bid!”
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3. Confident (cont..) (cont..)
Guarantee Everything
–No longer a differentiator –Sunshine Trash Service
Double your Price
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Don’t Wave a White Flag
“The best I can do is…” “If you compare…” “I’ve cleared my afternoon for you…”
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Speaking of Prices…
94% of sales people won’t bring up price 63% of sales people volunteer to cut the price, without being asked! What time is it?
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What to say when you're asked to cut your price:
“I RILLY wish I could, but. . . “What do I tell my next customer?” “It’s a lot like buying oats.” “Why are you so much more expensive than (the competition)?”
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Why you don't want price shoppers as customers
They gobble up your capacity
–If you cut your price by 10%, you have to increase your volume by 40% just to make up the difference.
You establish a precedent
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Why you don't want price shoppers as customers:
They’re less discerning They’re more demanding They’re often disloyal Nobody ever gets fired for paying too much.
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4. Patient
Fine-tuning your knowledge and skills takes time.
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Gretsch kit
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Prospect Learning Curve
Purchase Purchase Readiness Readiness
Total Total Apathy Apathy
1
2
3
4
5
6
7
8
9
Number of Impressions Number of Impressions
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Don’t Quit
48% quit after the first contact 20% quit after the second contact 7% quit after the third contact 5% quit after the fourth contact 4% quit after the fifth contact Yet 80% close AFTER the sixth call
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5. Assortment
“The more products and services you offer, the greater the constituency of customers you can serve.”
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Move Them Up the Curve
14000 12000 U n i t s 10000 8000 6000 4000 2000 0 $1 $10 $50 $250 $1,000
–Fill the Curve –Show the Best First –Opportunities to Upgrade
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6. Subsequent
“Guerrillas wage their marketing campaign simultaneously on three Prospects fronts.” 30%
Universe 10%
Customers 60%
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Lifetime Customer Value
Average cost of an industrial sales call: $150.00 It takes AT LEAST nine impressions to create a new customer. Acquisition cost of a new customer:
$1,350.00
Mail Advertising Services Association MASA Mail Advertising Services Association MASA
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6. Subsequent (cont..) (cont..)
“It takes 11 positive impressions to overcome a single negative impression.”
–Repetition, Repetition, Repetition –You Oughta’ Be In Pictures
Slide 52: Dear David, Photo Note
Pad
From the desk of Orvel Ray Wilson
THANK YOU for the opportunity to serve Competitive Edge. What a FUN group! We had a GREAT time! OrvelRay
34316 Gap Road, Golden, CO 80403 800-247-9145
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Show Up
“90% of sex is showing up.”
-- Woody Allen
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7. Convenient
“Guerrillas are user friendly. They are in touch, easy to reach, and they do everything immediately.”
–Message in a bottle –Follow-up, Follow-up.
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The Economics of Exceptional Service
The average business never hears from 96% of its unhappy customers. But 90% or more will not visit or buy from them again.
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The Economics of Exceptional Service
For every complaint, the average company has 26 customers with problems. Of customers who register a complaint, 70% will do business with you again if you resolved the complaint.
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The Economics of Exceptional Service
That figure jumps to 95% if the customer feels the problem was resolved quickly. The average upset customer tells 9 people about it. One in five will tell more than 20.
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The Economics of Exceptional Service
Better service performers charged about 9% more for their goods. They grew twice as fast and picked up market share at 6% a year, while those with poor customer service lost 2% per year.
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The Economics of Exceptional Service
Service stars earned a 12% return on sales, vs. a paltry 1% for the rest.
The Strategic Planning Institute, Cambridge, MA The Strategic Planning Institute, Cambridge, MA
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8. Measurement
“What you measure is what you get. Inspect what you expect.” – Tom Peters
Slide 61: Monthly Sales Performance Monthly Sales Performance
Total Sales Volume Jeannie Cindy Kathy Chris Pat Michelle Ryan Average $16,550.00 $20,196.00 $24,952.00 $19,252.00 $22,532.00 $21,036.00 $26,382.00 $21,557.14 Number of Transactions 25 26 30 32 31 25 19 26.86 Gross Margin % 31.1% 30.2% 29.3% 32.1% 34.9% 26.0% 31.0% 30.7%
Slide 62: Monthly Sales Performance Monthly Sales Performance
Total Sales Volume Number of Transactions 25 26 30 32 31 25 19 26.86 Gross Margin % 31.1% 30.2% 29.3% 32.1% 34.9% 26.0% 31.0% 30.7%
Jeannie
Cindy Kathy Chris Pat Michelle Ryan Average
$16,550.00
$20,196.00 $24,952.00 $19,252.00 $22,532.00 $21,036.00 $26,382.00 $21,557.14
Slide 63: Monthly Sales Performance Monthly Sales Performance
Total Sales Volume Jeannie Cindy Kathy Chris Pat $16,550.00 $20,196.00 $24,952.00 $19,252.00 $22,532.00 $21,036.00 $26,382.00 $21,557.14 Number of Transactions 25 26 30 32 31 25 19 26.86 Gross Margin % 31.1% 30.2% 29.3% 32.1% 34.9%
Michelle
Ryan Average
26.0%
31.0% 30.7%
Slide 64: Monthly Sales Performance Monthly Sales Performance
Total Sales Volume Jeannie Cindy Kathy Chris Pat Michelle $16,550.00 $20,196.00 $24,952.00 $19,252.00 $22,532.00 $21,036.00 $26,382.00 $21,557.14 Number of Transactions 25 26 30 32 31 25 Gross Margin % 31.1% 30.2% 29.3% 32.1% 34.9% 26.0% 31.0% 30.7%
Ryan
Average
19
26.86
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Your Tip So Far
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9. Excitement
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9. Excitement
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9. Excitement
Greet them with a “10” A Good Word for Everyone Never Complain.
Slide 69: Brussels Sprouts
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10. Commitment
Set goals and work toward them Set goals and work toward them Constantly Sharpen Your Skills. Constantly Sharpen Your Skills.
Slide 73: Negotiating book
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What Is Guerrilla Negotiating?
Gain a fair advantage Leverage your investment for maximum return Create an agreement that both parties can keep
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Sell The Total Product
•
Generic
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Sell The Total Product
• •
Generic Expected
Slide 77: Technical support
“I know it’s technical support, but for $2.50 a minute I expect you to talk dirty.”
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Sell The Total Product
• • •
Generic Expected Augmented
Slide 79: “No one ever went broke by making a profit”
“No one ever went broke making a profit.”
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Sell The Total Product
• • • •
Generic Expected Augmented Potential
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Customers Will Pay More
Quality Authenticity Stability Reliability Social or Ecological Values
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“Mr. Colton, do we stand behind our products?”
Customers Will Pay More
Knowledgeable salespeople
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Customers Will Pay More
Knowledgeable salespeople Reputation Partnership Consistency Customization
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Customers Will Pay More
Authority Popularity Exclusivity Scarcity Disposal
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Customers Will Pay More
Expediting Flexibility Short delivery times Advanced technology Arrives in perfect condition
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Customers Will Pay More
Problems fixed quickly
Slide 87: “You really should have called me sooner.”
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Customers Will Pay More
Problems fixed quickly Environmentally friendly
–78% Said they would pay $2,000 more for a car that gets 35 mpg
Benefit a third party
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Customers Will Pay More
Local Sourcing
–82% have consciously supported local or neighborhood businesses
Brand Names Referral
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Customers Will Pay More
To do the right thing
–SRI funds account for 11% of all the money in U.S. financial markets
More fun.
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Why Negotiate
You negotiate all the time Most things are negotiable Your negotiating skill will determine, who you work for, who works for you, what kind of car you drive, and where your kids will go to college.
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You Can and Should Negotiate
We’re so accustomed to saying “Yes!” Recognize when you’re in a negotiation.
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You Shouldn’t Negotiate
When You’re Sold Out When the Demands Are Unethical When You Don’t Care When You Don’t Have Time
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You Shouldn’t Negotiate
When they act in bad faith When waiting would improve your position When you’re not prepared When it would be better to beg forgiveness.
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Prepare Properly
Do Your Homework Evaluate their Options Consider Alternatives Know Your Boundaries Know What You Intend to Get.
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Set Priorities
Must gets Intend to gets Nice to gets
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Control the Agenda
Who What When Where How long
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Just Ask!
Ask the Right Person Ask Someone Else Ask for More Ask for Less Ask Three Times The Aladdin Factor
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Ask for the Right Things:
Time Help Information People Material Space Equipment Support Training Financing Documentation Warrantee Cleaning Repairs Recycling Disposal
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Develop Strong Rationales
Need. . . Only… Because…
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Require Reciprocal Concessions
Never offer anything without asking for something, anything in return Reserve the right to withdraw a concession Or request an unspecified concession in the future.
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Set Negotiating Expectations and Aspirations
Higher expectations yield higher outcomes. Ask for more than you really want, more than you even expect.
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Manage the Other Person’s Expectations
Set appropriate boundaries Be clear about what you can do and what you won’t do.
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Settlement Range
MJP MJP
Win Win Win Win
MAR MAR
MAR MAR
MJP MJP
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How to Counter Dirty Tricks
False Quote Quota Time The Lopez “Only Price Is Important…”
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How to Counter Dirty Tricks
Throw a Fit Telephone Mistakes Split the Difference Itemizing The Crunch The Stall.
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