Category: sales

9 Levels of Word of Mouth

9 Levels of Word of Mouth

Last time we talked about the second part of word-of-mouth tactics which help you put together a system to help shorten your customers’ purchasing decision time, which can increase your profits immensely.

Today is not so much of a blog but a tool to evaluate where your word of mouth stands and how it affects your business. We’re going to talk about the nine levels of word-of-mouth which gives you a scale to measure the word-of-mouth circulating around your company, products, and services. You can then see where you are getting negative or weak word of mouth and find ways to correct it.

So, launching into the nine levels of word-of-mouth, it should seem relatively obvious that the negative levels are, well, negative, and the positive levels are positive. 

Word of Mouth Scale

Minus 4-Death Blow

This is the worst of the worst and means your product or service is creating a scandal. Remember when the popular over-the-counter pain relievers, like Tylenol, were deemed unsafe? Yea, you won’t want that kind of word of mouth.

If this is where you are, it is most likely a death blow for your business and you have most likely done something very wrong. 

Minus 3-Karen is Out for Blood

Disgruntled customers are going out of their way to convince other consumers from purchasing your products and services. They are boycotting you. 

They are actively making a seen, leaving bad reviews, making their tik toks. In some respect, this can be the worst place to be. Karen does not allow you to have a minute to respond and fix the problem. 

Minus 2-Unacceptable and Unhappy

While not outwardly boycotting, when customers are asked about you, they will give a negative response. They will take the time to leave a Yelp or Google review and most likely leave it at that. 

Minus 1-Solvable 

At this level, people are mildly dissatisfied, and while not outwardly talking about it, they will have an opinion if asked. Now they may purchase from you despite their negative feelings; this can be a little confusing. 

These people may stick with you because it is easy or the pain is not enough to change. It is important to spend time giving them a better experience.

Level 0-Neutral 

This is sort of a neutral place to be. Customers are using your products, but don’t really talk about it. People rarely ask them about it, so they aren’t sharing their opinion with others. This can be a slippery slope because you don’t want to turn that neutral experience into a negative one. You should work to make it a positive one.

Plus 1-Satisfied 

At this level, we are finally starting to work our way into the positive word-of-mouth about your company, products, and services. Plus 1 signifies that people are generally pleased with your products, but unless asked, don’t really say anything about them.

Plus 2-Tip of the Tong Solution

When asked, your customers will talk about how much they love your products or service. They will be a person who says something like, “o I use …” or “consider trying …”. These people need to be prompted but once they have been you’re their go-to.

They may give a review but most likely need to be prompted before they will do it.

Plus 3-Have You Heard About

Customers will go out of their way to talk about your products, services, company, and shopping experience with you. This is most evident when you see how people recommend movies to their friends and family.

These people will leave an unprompted review and 5-star score. These tend to be your 7-9 net promoter scores.

Plus 4- Champion

Your product is the toast of the town. There is an obvious buzz going around, and your business is the place to be. People are not only talking about your great products and services, but they are talking about their shopping experience, your customer service, and how they perceive the company to help them in the future.

These are the people who do not only leave a review but also go out of their way to make a social media post. These are your 9-10 net promoter scores. 

Some great examples of Plus 4 companies are:

  • Lexus
  • Harley Davidson
  • Lululemon 
  • Tesla
  • Apple
  • Costco

 

We’re going to leave this lesson for you to mull over and take a look at what kind of word of mouth you are generating. If you need help with this process, try our FREE test drive to get help from our experienced business coaches.

Next ti, we will talk about the 30 ways to harness the power of word of mouth.

Get People to Talk About You The Way You Want

Get People to Talk About You The Way You Want

In the last post, we started our series on word of mouth and talked about making your customers purchasing experience a short, easy one. We are going to continue with that theme a bit today. We will talk about the power of word of mouth and how to mold it to your advantage.

The reality is everyone needs an advisor to guide them to make a decision. We rely on the expertise of others to make the right decisions as they are explained to us. When you take the time to understand exactly what and how word of mouth works, you’ll see all the great advantages it has to offer you. Remember this path when working to understand word of mouth:

  • Accelerate the decision-making process for increased profits.
  • You can accelerate product-making decisions by making the process easier. For example, try delivering on your word-of-mouth promises instead of low-ball advertising and the used car salesman approach.

Traditional advertising draws about one response for every thousand ads, and most of those are to ask for more information before the customer even considers purchasing. When you get information from a friend, you are more likely to take their word for it and act. On average, customers purchase two out of every five recommendations their friends make. That’s a HUGE difference.

So, what exactly is word of mouth? We know how powerful it can be, but to define it: Word of mouth is a communication between a customer and a potential customer. There is usually a relationship of some kind between these two people with an established level of trust. 

Now, compare this to advertising where you are providing a message to a potential customer who has not established a relationship with you or level of trust. Who are they more likely to take advice from? The answer is clear!
We talked above about the benefits of word of mouth now; let’s take a look at some reasons why it works. Some of these are:

  • The information is custom-tailored to the potential customer because of the friendly relationship of the referrer.
  • It’s more personal, relevant, and believable.
  • It’s customer-driven.
  • It’s self-generating and can take on a life of its own, especially with the information age of the Internet.
  • It becomes part of the product’s description.
  • The source of word of mouth can be meaningful and more effective when coming from an expert.
  • Word of mouth saves you time and money. 

To fully utilize word of mouth, you need to understand:

  1. Where is your word of mouth coming from?
  2. What products or services are being affected by word of mouth?
  3. How is your word of mouth traveling?

Once you know these things, you can work out a plan to trigger more word of mouth. This wraps up this lesson on word of mouth. If you need help understanding word of mouth and how it can impact your business, try our FREE test drive to access our wealth of resources and tools.

Next time we’re going to dive into the nine levels of word of mouth. These levels help you understand which word of mouth is positive and which is not.

10 x Your resources to maximize your results part 3

10 x Your resources to maximize your results part 3

So far in our series, we have covered the following topics; make sure to go back and read parts 1 & 2 to catch up on anything you have missed. Call in the Troops

  1. Bring ‘Em Out of the Woodwork
  2. Black Sheep Clients
  3. Olympic-Size Sales Staff
  4. Open Water Fishing 
  5. Call for Back-Up

These topics have covered how to use your champion clients, reactivation, sales teams, and more.

Today we will make a huge step forward with the following three topics:

  1. Go Big Online
  2. Bartering with the Best
  3. Give Away the Farm

Go Big Online

Some businesses solely operate online; others only operate brick and mortar, and then there are the hybrids. The hybrids are by far more successful than the previous two. This is because a physical location allows having a space to give your clients an experience. At the same time, establishing an online presence opens your business up to the entire world through a few clicks of the mouse.

To successfully sell products online, you need to:

  1. Offer high-quality products/services that people want.
  2. Build an attractive, effective website that’s user-friendly.
  3. Generate high-quality traffic at a low cost.

With all of these things in place, you can find success with your online exposure.

Bartering with the Best

If you’ve ever gone to a yard sale and paid the sticker price, then you need to up your bartering game. Everything is negotiable, and you need to take the time to barter with your suppliers. Companies are always open to bartering, and when all is said and done, you could find yourself saving significantly on the things your business needs to operate smoothly.

Give Away the Farm

Ok, not literally, but you have to be willing to contact prospective clients and offer them products and services they will need. You don’t know what they need until you offer them everything you’ve got, then work with them to create the perfect package that fits their needs.

When you take the time to put yourself at the front of their minds, they are more likely to work with you going forward. You can do this by offering free newsletters, a free consulting session, or other valuable tools.

Are you taking action?

I hope through this series you have begun to rethink part of your business. If at this point your say to yourself all of this is so obvious, then good. Then I ask, are you currently doing implementing these practices in your business? If yes, can you do better? If no, why not?

If you answered yes or no to the above questions, then I have a special offer for you:

  • First Download My Book 8 Steps that change your business Forever
  • Once you download it, I will reach out to you with a complimentary business assessment guaranteed to find your business $10,000-$100,000 in additional revenue without you having to spend any more money on marketing or advertising.

Next time we’ll finish up this series with the last three ways to multiply your maximized resources. We’ll cover:

  1. Finding Your Pot of Gold
  2. Stay at the Top of Your Game
  3. Wealth from the Inside Out
10 x Your Resources to Maximize Your Results Part 2

10 x Your Resources to Maximize Your Results Part 2

Resources are tremendous, but results are better. Every business has resources, but very few can put them to the best use. Last week we spoke about the three strategies for maximizing your resource, and they were: 

  1. Call in the Troops; using your current customers.
  2. Bring ‘Em Out of the Woodwork; the power of a referral system
  3. Black Sheep Clients; reactivation of previous clients. 

Today we’ll talk about the following three:

  1. Olympic-Size Sales Staff
  2. Open Water Fishing 
  3. Call for Back-Up

Olympic-Size Sales Staff

Now we all know you can’t have a sales staff of 10,000 who work around the clock for free, but there is a tool that will do precisely that-direct mail marketing. Direct mail is one of the big three, social media, email, and direct mail. Now social media and email have higher open rates and lower costs, but direct mail has significant advantages. 

Direct mail campaigns generate purchases five times larger than email campaigns. In addition, they have the distinct advantage of standing out. In today’s, world people get inundated with social media aids and emails but rarely receive real mail. The last advantage is the life span of a social media ad lasts about 3 seconds in front of your customer compared to 17 days for direct mail. 

Direct mail is a written piece of sales and informative copy that offers information about your company and your products/services to potential customers/clients. For example, you have sales letters, brochures, or proposals that can be mailed out to a list of leads. 

This approach can not only open your door to thousands of new customers/clients, but it can also save you thousands of dollars in advertising. 

Open Water Fishing

You have to be careful not to waste your time on clients who are simply not interested. Instead, you must focus on bigger fish. Remember, the previous lessons talked about how you should always be targeting higher-quality prospects. 

To do this, you have to take the time to research and learn about your potential clients to make sure you are targeting the right companies to work with. In addition, make sure they are companies that will benefit from your products/services over a long time. 

If you’re not sure where to start finding big fish clients, go back over our previous lessons or look into purchasing a direct mailing list that targets the clients you need. You can buy or rent lists with name, title, job specs, and contact information. This gives you a jumping-off point in finding high-quality clients.

Call for Back-Up

Don’t be afraid of telemarketing. It’s a powerful tool that can be done tastefully and be highly effective. However, keep in mind, when not handled correctly can bring about adverse reactions. To be successful with telemarketing, you need to use these tips:

  1. Your first line of defense should be mail marketing. 
  2. Test before you start a telemarketing campaign.
  3. Set the price for your offer.
  4. Use a progressive approach with your campaign.

Progressive contact helps build trust and allows the potential customer/client to establish a positive relationship with you. These are the progressive steps you should take:

  1. Put your prospect at ease.
  2. Present your offer in a natural, conversational way.
  3. Avoid being argumentative or pushy.
  4. Always be honest.
  5. Perfect your 30-second elevator speech.
  6. Clearly state your name, business name, why you’re calling, and where you got their information.
  7. Offer the benefits of your products and services.
  8. Mention one of the features that back up the benefits.
  9. Ask preliminary questions that give you information about the prospect.

These step-by-step methods can help you succeed with a telemarketing campaign and avoid a negative response that could forever stigmatize your business. 

This wraps up these three areas of multiplying your resources. We’ll continue with this series for the next two posts to give you all the resources you need to get the most out of your current resources.

If you need help working through any of these processes or areas, download my book and I will give you one free month of access to my online marketing academy $97 value.

10x Your Resource to Maximize Your Results

10x Your Resource to Maximize Your Results

In the previous series, we discussed techniques and strategies to maximize your resources. This next series of posts will cover how to take maximizing resources and multiply them for even bigger results. 

In this first of the four-part series, we’ll cover: 

  1. Call in the Troops
  2. Bring ‘Em Out of the Woodwork
  3. Black Sheep Clients

Call in the Troops

Finding and securing new clients can be exhausting and expensive. So instead, work with other companies to help you find new clients. Find solid companies with secure, positive relationships with their customers/clients. Also, ensure that their products/services are not directly competitive with yours. 

Contact prospective partner companies and talk with them about helping promote your products/services to their clients. Always offer them a commission on the sales that come from their client lists.

Make sure to include these key points in your proposal:

  • First, ensure that your products/services don’t compete with theirs.
  • The partnership will not take away from their current or future sales.
  • The partnership will increase their profits.
  • They won’t have to do nor spend anything on the partnership.
  • You will produce all needed marketing materials.
  • You will offer an unconditional guarantee on all products/services.

Bring ‘Em Out of the Woodwork 

If you take the time to put together a solid referral system, you’ll draw new customers/clients out of the woodwork through everyone you already know. You can start doing this by first showing all your current clients how much you care about them.

Then show them how your products/services can significantly improve their lives or businesses. If you can do this consistently, they will naturally and comfortably bring new clients right to you.

Black Sheep Clients

One of the best ways to rejuvenate business is to find your stray clients and offer them something unique. But, first, you need to understand why they strayed and are no longer purchasing from you. There are generally three reasons why customers/clients leave. They are: 

  1. Unrelated causes that have nothing to do with you
  2. A problem with their last purchase
  3. No longer benefit from your products/services

The best way to bring these clients back is to contact them. If you don’t make the first move, they’ll never come back. You make an appointment to visit them or call them if it’s not possible to meet in person.

Talk openly with your stray clients. Let them know you noticed they were no longer working with you and that you’d like to talk with them about their experiences with you and how you can improve things to work together again. Take the time to make them feel special and work hard to make sure their experiences with you going forward are the best ever.

This wraps up the first three areas on how to multiply your maximized resources. If you need help working on any of these ideas or processes, try our FREE test drive to work with an experienced business coach.

Next time we’ll talk about the following three areas of multiplying your resources. They include Olympic-size Sales Staff, Open Sea Fishing, and Call for Back-Up.

Maximize Your Resources – Part 2

Maximize Your Resources – Part 2

 

Let recap last week’s blog, where we discussed the first three areas for maximizing your resources. For reference, they were:

  • Recognize the obvious, give yourself the space to see the apparent areas of waste.
  • Unconventional breakthroughs create a culture and method for maximizing new and creative ideas between you and your team.
  • Face the facts, start by analyzing your current systems and start by making a 1% change.

Today we’ll cover the next three, which are:

  • Reveal your business’ soul
  • From breaking even to breaking the bank
  • Stand up and stand out

Reveal Your Business’ Soul

Every business has a soul, and you likely felt it the strongest when your business was starting. It’s that passion, newness, and momentum you had at the very beginning. Unfortunately, sometimes that can get lost along the way as your business gets stagnant and set in its ways. You have to break out of that rut and get back to your business’ true soul.

The philosophy of putting your client’s needs above your own is the true key to success. You need to serve your clients, not sell to them. They want to build a relationship based on trust, not a used car. Add to these responsibilities your ability to solve problems, handle special situations, be a friend to your clients and focus on offering valuable, high-quality products/services. 

I challenge you to fill these affirmations daily or at least weekly the answer the following questions:

  • I started my business to solve this (insert the problem you solve)__________ for (insert the person or people solve the proble for)  ______________.
  • I started this business to have my customers and clients feel (insert how you want your prospect to feel after purchasing/working with you) _____________. 

Completing this short exercise will help you to be able to frame your purpose quickly and efficiently for yourself to keep you focused. Once focused, you can get back to the basics and solve the problems your business is facing.

From Breaking Even to Breaking the Bank

One of the easiest ways to instantly increase your profit is by cutting costs. Most people panic here and think I can’t afford to cut expenses. I am barely making it work as it is. Most of us, over the life of our business, accumulate costs that we forget about it. They can be $5 for this subscription or looking at your credit card processor. 

By taking the time monthly to review your expense, you can significantly reduce your cost. It is also a great way to start noticing the spending trends of both you and your staff. Along with this, make sure you set aside time to review your annual expenses.

  • Phone & Internet
  • Product Licenses
  • Payment process
  • Banking Fees
  • Insurance
  • Rent 
  • inventory suppliers

These are just a few of the areas to consider reviewing but taking the time to look at making small changes in any of these areas can mean $10,000 or more in additional profit for your business. Of course, taking steps to make changes should never be done without a team. Make sure your key staff and accountant are a part of these conversations. If you’re fortunate to have a business coach make, I would include them as well.

Good luck and start cutting costs.

Stand Up and Stand Out

You need to stand out from the pack among your competitors. The only way you can do this is through consistency and value. You do this by discovering what your USP (Unique Selling Proposition) is and perfecting it. Here are some tips to help you find and develop your USP:

  1. Look for unfilled needs in your industry.
  2. Use preemptive marketing.
  3. Use a technique that is clear and to the point.

This wraps up this post. However, if you need help with any of these areas and techniques, try our Finacial Training & E-Learning Market Place to access a wealth of resources and tools.

Maximize Your Resources – Part 1

Maximize Your Resources – Part 1

Title Photo

Over the next few posts, we’re going to talk about how to take a hard look at your current resources and get the most out of them. Your resources can help your capital go further and increase your profit margin.

Today we’ll cover three different ways to maximize what you already have. These include:

  • Recognize the obvious
  • Unconventional breakthroughs
  • Face the facts

Recognize the Obvious

Sometimes when you are too close to something, you can’t make out the big picture. You need to step back and take a hard look at the resources you currently have in front of you. You are surrounded by opportunities that can boost your career and help your business become more successful.

To identify your resources, I suggest starting with setting aside 1 hr a week to look at an aspect of your business. Make sure you select a location that is not your place of work or your home. Go to an area, that it will be challenging for someone to interrupt you. Then ask yourself any of the following questions:

  • What is the one thing you need to change or do differently that would make you more successful?
  • What is the one thing I could teach my employees to make them better at the tasks I’ve asked them to do?
  • What is one thing about my business that I need to know more about?
  • What is one thing I could do to bring additional value to my customers/clients?

This process is scalable; as you become comfortable with 1 hr a week, you can add, setting aside an entire day a month. Then, when you get to the Bill Gates level, you can take a whole week-long retreat to just focus on yourself and your business. 

If the lesson of “seeing the obvious” is not clear, it is as simple as setting aside time to identify the problem, plan a new course of action, and go back with energy to make a change.

Unconventional Breakthroughs

Don’t sit around waiting for breakthroughs; you need to create them yourself. A breakthrough is merely a new way of doing things or finding a new process or system for the same or better results. You should be having regular brainstorming sessions and encouraging your team to come forward with breakthroughs or ideas any time they have them.

Some great examples of breakthroughs are:

  • A health and beauty company discovers a side effect of a product that can be re-marketed and sold.
  • A company creates a roll-on deodorant inspired by the shape and size of a ballpoint pen.
  • The founder of Nike poured rubber onto waffle iron and created the most innovative and successful running shoe ever.

When attracting or strategizing for a breakthrough, there are some key objectives you need to keep in mind. They are:

  1. Looking for the hidden opportunity in every situation.
  2. Looking for at least one cash windfall for your business every three months.
  3. The more value for your client, the better your breakthrough.
  4. Creating multiple streams of ideas to find the best breakthroughs.
  5. Effective breakthroughs remove all risk or resistance.

Face the Facts

Before you can put your breakthroughs to work, you need to face the facts of the processes and systems that are not working for you and work to correct or get rid of them. System analysis is an excellent way to do this. Once you have a listing of your strengths and weaknesses, you need to compare those to the strengths and weaknesses of your competitors. 

You can present some great questions to you and your team to get a handle on where your business is right now. They are:

  1. Why did I first start this business? Why am I in this industry?
  2. What products/services did I offer then? Which were the most popular?
  3. Why are my customers/clients buying from me right now?
  4. How did I generate new customers/clients then?
  5. Which of my marketing efforts were bringing in the best results?

Once you’ve got some answers to these questions, you’ll know better how to approach your weaknesses. 

These three areas we’ve gone over give you a jumping-off point for how to utilize your current resources to their fullest potential. If you need any help with your strategic or systems analysis, please don’t hesitate to reach out. I look forward to offering what advice I can. 

I appreciate you taking the time to read this article. If you have enjoyed it, please share it with someone you feel could benefit from it and leave a like.

5 Killer Mistakes – Part 3: Up Cash Creek Without a Paddle

5 Killer Mistakes – Part 3: Up Cash Creek Without a Paddle

Now to conclude our killer mistakes series, we will talk about the worst mistake you can make that will not only cost your clients but might even cost you your company. Today we’re going to talk about the fifth killer mistake: Cash Flow.

Even when business is good, there’s still a chance of running out of cash flow. You have to always be prepared for a slow in sales or a surge in expenses. One of the keys to balancing your cash flow is to get your clients to pay on time. Managing your cash flow can seem like a nightmare but is essential to a successful business.

Here are some tips to speed up the payment process:

  • Always send invoices on time and adjust your records for potential audits.
  • Learn how the client processes payments on their side and find out precisely where to send invoices.
  • Find out who’s in charge of processing orders and payments so you know who to contact if needed.
  • Have a follow-up procedure in place, just in case.
  • As a last resort, call your contact to ask questions.
  • Always make sure your invoices are correct before sending them out.

You also need to make sure your cash flow is protected. You can do this by:

  • Always knowing which accounts need to be paid and when.
  • Negotiate with your suppliers for the lowest cost possible.
  • Have a bank contingency plan in place.
  • Build your investor network.
  • Having a weekly, not monthly, cash flow management system.

These are all great ways to protect the cash flow of your business and be able to serve your clients. However, these last few lessons are all about finding and maintaining your big fish clients. These clients are essential to your success, and you need to take the time to work through each of these steps carefully and correctly for the best success.

I am here to help with any of the processes we have discussed; feel free to ask me how to get access to a wealth of Free tools and resources and our business coaching staff.

Take the One Thing Challenge!

If you feel frustrated with sales and marketing, the reason may not be a lack of effort or investment. Instead, the problem may be inadequate or inefficient service delivery to your customers. 

Remember, the best time to make a change was yesterday, so you better get started today! What is the one thing you need to change or do differently that would make you more successful?

Complete this quick form, and I will respond within 48hr with one action you can take to make your one thing a reality?

 

5 Killer Mistakes – Part 2

5 Killer Mistakes – Part 2

In the last post, we covered the first two of the five biggest mistakes you can make in dealing with big fish clients. Today we’ll cover the third and fourth ones: Taking on More Than You Can Handle.

When you take on too much, your business can’t keep up, and therefore you can quickly lose control of everything and find yourself barely functioning. You want your business to be successful, no doubt, but you need to plan how you will handle the growth. Although your clients expect excellent customer service and high-quality products/services, they don’t know or care about your behind-the-scenes operations to get those things done.

Look for these signs that you are taking on more than you can handle:

  • Clients’ needs aren’t being met.
  • Employee morale is low, clients are upset, and you’re in a panic.
  • You have to react in emergency mode to save accounts.
  • Your current clients are suffering from trying to keep up with new business.
  • Profits are going down.
  • You are just trying to pick up the pieces of your business.
  • Your clients/customers leave.
  • Resources are being reallocated.

There is a trick called the Mock Fish Plan. This plan can help you react positively when facing some or all of these things and help you get your business back on track. This plan will:

  • Help increase sales in a short period of time.
  • Alter your products/services for the better.
  • Fulfill promises you made to your clients.

There are six steps to this plan:

  1. Bring in your best team and have them all help to meet the fish’s needs.
  2. Review your operational system.
  3. Anticipate future problems better.
  4. Communicate better.
  5. Include costs in your quotes.
  6. Always have a backup plan.

All Your Eggs in One Basket

You can allow your company to become dependent on anyone fish. Eventually, or for certain periods there is going to be a slowing down period with your fish. To stay in the game, you need to diversify. 

If you’ve ever mishandled a fish, you could drive away potential fish as well. However, to keep balance and prepare for a strong future, you can do a few things.

These things include:

  • Stay in the loop and try to know what’s going on inside your fish’s company.
  • Constantly reinvent yourself and stay at the top of your industry.
  • Stay exclusive.
  • Try to secure multi-year commitments and contracts.
  • Spread your contracts out.
  • Price your products/services correctly.

You also need to work to reduce your dependency on your fish. This can generally be measured in sales or profits. Take a look back at the process we’ve used thus far to snag more fish to keep this all in balance.

These are the ways you can help avoid the killer mistakes that can make you lose it all. If you need help with any of these tips or tricks, feel free to call at 412-397-7967.

Next time we’ll talk about the last of the killer mistakes and how to combat it from hitting your business hard.

5 Killer Mistakes – Part 1

5 Killer Mistakes – Part 1

5 big mistakes that will kill a deal are:

  1. Not meeting the client’s expectations
  2. Mishandling a client crisis
  3. Taking on more than you can handle
  4. Putting all your eggs in one basket
  5. Up cash creek without a paddle

Any one or a combination of these can not only kill the partnership but can take down your company as well. We’re going to take a bit of time to talk about each of these; in this lesson, we’ll cover the first two.

Not Meeting Client’s Expectations

You must give your clients exactly what you promised during the negotiation portion of your relationship. If an event does happen where there is no way to meet the client’s expectations, not only do you have to find a way to fix the situation, but you also have to find out where it all went wrong. 

A couple of things could have contributed to this problem:

  1. Bad salesmanship. This could mean the salesperson was trying too hard to seal the deal and didn’t listen to the client’s needs.
  2. Lack of communication. This breakdown occurs between the salesperson and your operations department.

To avoid these mistakes, you need to put a clear plan of action into place that all of your sales staff needs to follow:

  • Think before you speak.
  • Give yourself a break.
  • Perfect your process.
  • Pre-format over-deliverables.
  • Stay hands-on throughout the entire process.
  • Define success.

 

Mishandling a Client Crisis

Crises will happen, but how you respond and fix them will define your company and interaction with your clients. You need to react quickly and effectively. This will help you gain even more trust and confidence from your client.

Some simple tips can help you deal with any client crisis:

  • Take responsibility and apologize, no matter who is at fault.
  • Act swiftly and effectively.
  • Step in and take control of the situation.
  • Never point fingers or place blame.
  • Stay in constant communication with your client.
  • Stay calm throughout the situation.
  • Keep your eye on the ball.

Now that you know the top two mistakes you can make to kill a big fish deal, you’ll know better how to avoid making these mistakes in the first place and learn how to put a plan of action into place in case of a crisis.

If you need help with any of this, don’t wait, email me at doogie@ideasactionsuccess.com

Next time we’ll talk about the 3rd and 4th killer mistakes you can make in working with big fish clients.