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	<title>BusinessBrief.com &#187; research</title>
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		<title>What makes online ads appealing? The $31 billion question</title>
		<link>http://www.businessbrief.com/what-makes-online-ads-appealing-the-31-billion-question/</link>
		<comments>http://www.businessbrief.com/what-makes-online-ads-appealing-the-31-billion-question/#comments</comments>
		<pubDate>Wed, 23 Nov 2011 11:00:22 +0000</pubDate>
		<dc:creator>Charlie Walker</dc:creator>
				<category><![CDATA[In this week's e-newsletter - Sales & Marketing]]></category>
		<category><![CDATA[Latest News & Views - Sales & Marketing]]></category>
		<category><![CDATA[New Research]]></category>
		<category><![CDATA[online marketing]]></category>
		<category><![CDATA[adpropo]]></category>
		<category><![CDATA[online ads]]></category>
		<category><![CDATA[research]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=22294</guid>
		<description><![CDATA[Does it annoy you when those dancing pop-up ads merrily skip across your screen when you go to a website? What about those uninvited, animated come-hither characters? You&#8217;re not alone. Recent research shows that, depending on the format, 70% of potential customers find these ads to be ineffective and even bothersome. Of the customers who [...]]]></description>
			<content:encoded><![CDATA[<p>Does it annoy you when those dancing pop-up ads merrily skip across your screen when you go to a website? What about those uninvited, animated come-hither characters? <span id="more-22294"></span></p>
<p>You&#8217;re not alone.</p>
<p><a href="http://www.prweb.com/releases/2011/11/prweb8935637.htm" target="_blank">Recent research</a> shows that, depending on the format, 70% of potential customers find these ads to be ineffective and even bothersome.</p>
<p>Of the customers who find website advertising to be useful (an estimated 12% to 47%), email, video and Facebook ads were viewed as least offensive.</p>
<p>What&#8217;s pushing the stakes even higher: It&#8217;s estimated online ad spending will exceed $31 billion this year.</p>
<p>To engage customers online in significant numbers, advertising needs to be better targeted, experts say.</p>
<p>People will respond well to these three hot buttons:</p>
<ul>
<li>the opportunity to win money or prizes (not cheap, though)</li>
<li>the lure of discounts and &#8220;insider&#8221; information, and</li>
<li>ads that are more entertaining, interactive and useful &#8212; not the same old song and dance.</li>
</ul>
<p>Some of the factoids gleaned from <a href="http://www.prweb.com/releases/2011/11/prweb8935637.htm" target="_blank">research by adpropo</a> include:</p>
<ul>
<li>69% of people surveyed cited &#8220;frequent opportunities to win&#8221; as an important reason to visit a site</li>
<li>67% of women said they&#8217;d like to get information and deals in a single, online location, and</li>
<li>62% of men wanted &#8220;the opportunity for big and exciting prizes.&#8221;</li>
</ul>
<p>One thing for online marketers to keep in mind: Americans now spend nearly 100 minutes of leisure time per day online.</p>
<p>The most popular place you&#8217;ll find these people? Online gaming sites.</p>
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		<title>Catch &#8216;em with kindness – not clutter</title>
		<link>http://www.businessbrief.com/catch-em-with-kindness-%e2%80%93-not-clutter/</link>
		<comments>http://www.businessbrief.com/catch-em-with-kindness-%e2%80%93-not-clutter/#comments</comments>
		<pubDate>Wed, 26 Oct 2011 11:00:11 +0000</pubDate>
		<dc:creator>Charlie Walker</dc:creator>
				<category><![CDATA[communication]]></category>
		<category><![CDATA[In this week's e-newsletter - Sales & Marketing]]></category>
		<category><![CDATA[Latest News & Views - Sales & Marketing]]></category>
		<category><![CDATA[online marketing]]></category>
		<category><![CDATA[Technology]]></category>
		<category><![CDATA[customer interactions]]></category>
		<category><![CDATA[customer killers]]></category>
		<category><![CDATA[Facebook]]></category>
		<category><![CDATA[interesting]]></category>
		<category><![CDATA[news feeds]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[unlike]]></category>
		<category><![CDATA[valuable]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=21796</guid>
		<description><![CDATA[Nobody likes clutter – especially on a Facebook page seeking to build fan support. That’s one of the three customer killers, according to a recent survey published in Advertising Age, that lead customers to hit the “Unlike” button: Clutter Boring information being posted, and Posting too often. It’s expected some customers will bail on a [...]]]></description>
			<content:encoded><![CDATA[<p>Nobody likes clutter – especially on a Facebook page seeking to build fan support. <span id="more-21796"></span></p>
<p>That’s one of the three customer killers, according to a <a href="http://www.adagewhitepapers.com/adage/facebookfans2011?pg=23#pg23" target="_blank">recent survey</a> published in <em>Advertising Age</em>, that lead customers to hit the “Unlike” button:</p>
<ul>
<li>Clutter</li>
<li>Boring information being posted, and</li>
<li>Posting too often.</li>
</ul>
<p>It’s expected some customers will bail on a site because they’re no longer interested in the product or service. But 46% of the people surveyed said they skedaddled because the information being offered was flat-out dull.</p>
<p>Nearly one-third of the would-be consumers surveyed were unhappy because of the flood of brand posts clogging up their news feeds.</p>
<p>Only 14% said they hungered for more.</p>
<p>The lesson?</p>
<p>Resist the temptation to wow visitors with flashy technology and minute-by-minute posts, and stick with the proven formula &#8212; focusing on creating valuable/interesting customer interactions.</p>
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		<title>6 closing myths that cause (and extend) sales slumps</title>
		<link>http://www.businessbrief.com/6-closing-myths-that-cause-and-extend-sales-slumps/</link>
		<comments>http://www.businessbrief.com/6-closing-myths-that-cause-and-extend-sales-slumps/#comments</comments>
		<pubDate>Tue, 20 Sep 2011 11:00:52 +0000</pubDate>
		<dc:creator>Ken Dooley</dc:creator>
				<category><![CDATA[In this week's e-newsletter - Sales & Marketing]]></category>
		<category><![CDATA[Industry Spotlight - Sales & Marketing]]></category>
		<category><![CDATA[Latest News & Views - Sales & Marketing]]></category>
		<category><![CDATA[New Research]]></category>
		<category><![CDATA[Sales meeting ideas]]></category>
		<category><![CDATA[training]]></category>
		<category><![CDATA[closing myths]]></category>
		<category><![CDATA[qualified customers]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[sales calls]]></category>
		<category><![CDATA[sales meeting]]></category>
		<category><![CDATA[selling slumps]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=21188</guid>
		<description><![CDATA[Here are six closing myths that can lead to lost sales and extended selling slumps. They&#8217;re worth sharing at your next sales meeting. How you close is the key to getting the sale. Research shows that successful closes result from a series of events that precede it. Most prospects are more interested in how salespeople [...]]]></description>
			<content:encoded><![CDATA[<p>Here are six closing myths that can lead to lost sales and extended selling slumps. They&#8217;re worth sharing at your next sales meeting. <span id="more-21188"></span></p>
<ol>
<li><strong>How you close is the key to getting the sale. </strong>Research shows that successful closes result from a series of events that precede it. Most prospects are more interested in how salespeople open sales calls, not how they close them.</li>
<li><strong>Persistence is the key to closing success.</strong> If a prospect has no need, interest or want in what’s being sold, no amount of persistence will close the sale. Showing persistence with a qualified prospect is a lot more valuable than being too aggressive with an unqualified one.</li>
<li><strong>If prospects don’t like you, you have zero chance of closing the sale.</strong> Studies show that prospects place much more emphasis on trust than they do on the personal feelings they have for the salesperson.</li>
<li><strong>Salespeople who open with friendly small talk set the stage for a successful close.</strong> According to a recent survey, almost 75% of executives labeled unsolicited small talk as negative. Most are too busy to worry about the weather or the latest sports scores. If prospects want to engage in a little small talk to open the meeting, respond in kind. Otherwise, try to make your opening provocative and credible.</li>
<li><strong>The best way to increase your closing ratio is to step up the number of calls you make.</strong> Prospecting for qualified customers is critical for salespeople. The key is the word “qualified.” Simply making a lot of calls on prospects who have no interest, budget or purchasing authority will hurt, not help, your closing ratio.</li>
<li><strong>The uniqueness of your product or service will close the sale.</strong> No product or service will remain unique for very long in today’s competitive marketplace. It’s almost impossible for any organization to have an extended technological advantage, considering the elimination of trade barriers and the ease of product duplication. It’s more critical for a salesperson to position a product or service in a unique way. The most unique idea doesn’t mean anything until it’s understood and accepted by a prospect.</li>
</ol>
<p><em><strong>Source: </strong>John R,. Graham, President of Graham &amp; Associates, a sales and marketing firm based in Quincy, MA.</em></p>
]]></content:encoded>
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		<title>The proven selling tool that closes 20% more deals</title>
		<link>http://www.businessbrief.com/the-proven-selling-tool-that-closes-20-more-deals/</link>
		<comments>http://www.businessbrief.com/the-proven-selling-tool-that-closes-20-more-deals/#comments</comments>
		<pubDate>Tue, 23 Aug 2011 11:00:14 +0000</pubDate>
		<dc:creator>Bob Hill</dc:creator>
				<category><![CDATA[closing]]></category>
		<category><![CDATA[In this week's e-newsletter - Sales & Marketing]]></category>
		<category><![CDATA[Industry Spotlight - Sales & Marketing]]></category>
		<category><![CDATA[Latest News & Views - Sales & Marketing]]></category>
		<category><![CDATA[New Research]]></category>
		<category><![CDATA[sales management]]></category>
		<category><![CDATA[training]]></category>
		<category><![CDATA[credibility]]></category>
		<category><![CDATA[CSO Insights]]></category>
		<category><![CDATA[reputation]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[sales intelligence]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=20571</guid>
		<description><![CDATA[Statistics say this underutilized resource could be the best way to send sales skyrocketing. Companies that provide reps with a wealth of &#8220;sales intelligence&#8221; prior to the initial sales call are 20% more likely to close deals than those that don&#8217;t, according to CSO Insights research. &#8220;Sales intelligence&#8221; refers to any insider info about a [...]]]></description>
			<content:encoded><![CDATA[<p>Statistics say this underutilized resource could be the best way to send sales skyrocketing. <span id="more-20571"></span></p>
<p>Companies that provide reps with a wealth of &#8220;sales intelligence&#8221; prior to the initial sales call are 20% more likely to close deals than those that don&#8217;t, according to <a href="http://www.csoinsights.com/" target="_blank">CSO Insights</a> research.</p>
<p>&#8220;Sales intelligence&#8221; refers to any insider info about a prospect&#8217;s industry, company or competitors that gives salespeople an edge.</p>
<p>But today&#8217;s buyers have access to a lot of the same info salespeople do, so the trick is finding new ways to present a value proposition prospects haven&#8217;t already considered.</p>
<p>In 2006, almost 60% of salespeople nationwide were exceeding quota on a regular basis. That percentage has dropped steadily every year since.</p>
<p>Regardless, most sales organizations that continue to exceed expectations on a regular basis have one thing in common: Their salespeople are constantly presented with new opportunities to learn more about their prospects.</p>
<p>Some managers offer ongoing training. Others encourage reps to join industry organizations or attend more conferences.</p>
<p>The goal is to keep salespeople as informed as possible, because research shows prospects prefer to only do business with reps who understand:</p>
<ol>
<li><strong>How their industry works.</strong> This includes everything from the latest trends to what top companies are doing to maintain their edge (and how your offer can help prospects do the same).</li>
<li><strong>Who their top competitors are.</strong> The more salespeople know about the top companies in any given market, the more prepared they are to help prospects gain a larger market share.</li>
<li><strong>Any past history the prospect has with the company.</strong> This refers to everything from past sales meetings to previous buying history. The more detailed your records, the less chance reps will be caught off guard by a prospect who has dealt with your company in the past.</li>
<li><strong>How to differentiate their offer from competitors.</strong> Why are you the best value for the prospect&#8217;s dollars? How can your company offer stronger ROI in the long run?</li>
<li><strong>What&#8217;s changing and how it impacts the prospect&#8217;s business.</strong> Buyers want solutions that put them on the cutting edge of their industry, and they want to do business with salespeople who understand what they&#8217;re up against.</li>
</ol>
<p>Organizations that have a system for gathering sales intelligence prior to every face-to-face meeting:</p>
<ul>
<li>Save time by disqualifying low-probability prospects</li>
<li>Impress prospects immediately by addressing their biggest needs, and</li>
<li>Earn prospects&#8217; respect by proving they’ve done their homework and are capable of helping the prospect’s business succeed.</li>
</ul>
<p>Over time, it also causes prospects to view your salespeople as experts in the field, which not only boosts their credibility, but the company&#8217;s reputation as well.</p>
<p><em>Based in part on “<a href="http://snipurl.com/ix2nw">Proactive Sales Intelligence</a>,” a CSO Insights white paper by Jim Dickie &amp; Barry Trailer.</em></p>
]]></content:encoded>
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		<title>Less than 1/3 of Americans optimistic about economic recovery</title>
		<link>http://www.businessbrief.com/less-than-13-of-americans-optimistic-about-economic-recovery/</link>
		<comments>http://www.businessbrief.com/less-than-13-of-americans-optimistic-about-economic-recovery/#comments</comments>
		<pubDate>Mon, 04 Jul 2011 10:00:33 +0000</pubDate>
		<dc:creator>Bob Hill</dc:creator>
				<category><![CDATA[Finance]]></category>
		<category><![CDATA[In this week's e-newsletter]]></category>
		<category><![CDATA[Latest News & Views]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[Obama]]></category>
		<category><![CDATA[Recession]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[study]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=19393</guid>
		<description><![CDATA[A new Wall Street Journal study reveals consumer confidence is sagging again, but this time Obama&#8217;s not to blame.  The study, which the Wall Street Journal conducted in conjunction with NBC News, found the bulk of pessimism was due to rising gas and food prices, while a stunning 64% claimed President Obama was either &#8220;not [...]]]></description>
			<content:encoded><![CDATA[<p>A new <em>Wall Street Journal </em>study reveals consumer confidence is sagging again, but this time Obama&#8217;s not to blame.  <span id="more-19393"></span></p>
<p>The <a href="http://online.wsj.com/article/SB10001424052702303499204576387981121164482.html?mod=ITP_pageone_1">study</a>, which the <em>Wall Street Journal </em>conducted in conjunction with <em>NBC News</em>, found the bulk of pessimism was due to rising gas and food prices, while a stunning 64% claimed President Obama was either &#8220;not responsible&#8221; for the current economic mess or only &#8220;somewhat responsible.&#8221;</p>
<p>Nearly 70% of Americans claimed they&#8217;d been significantly effected by the increase in gas prices. Meanwhile, more than a third of respondents said their economic situation had gotten worse in the last year, while only 20% claimed their situation had actually improved.</p>
<p>Nearly 40% of Americans take the conservative view that cutting federal spending will help the economy, while 31% believe federal spending is actually helping the economy long-term.</p>
<p>Finally, 46% believe there should be less government interference in business &#8211; a belief that reflects the mass deregulation of the aughts that many feel contributed to the recession in the first place.</p>
<p><em><strong>Source: </strong>&#8220;<a href="http://online.wsj.com/article/SB10001424052702303499204576387981121164482.html?mod=ITP_pageone_1">$4-a-gallon gasoline contributed to Growing Pessimism on Economy</a>,&#8221; by Neil King, </em>Wall Street Journal<em>, 6/6/11.</em></p>
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		<title>$50 billion question: Why do customers bail?</title>
		<link>http://www.businessbrief.com/50-billion-question-why-do-customers-bail/</link>
		<comments>http://www.businessbrief.com/50-billion-question-why-do-customers-bail/#comments</comments>
		<pubDate>Mon, 20 Jun 2011 11:00:15 +0000</pubDate>
		<dc:creator>Charlie Walker</dc:creator>
				<category><![CDATA[closing]]></category>
		<category><![CDATA[In this week's e-newsletter - Sales & Marketing]]></category>
		<category><![CDATA[Industry Spotlight - Sales & Marketing]]></category>
		<category><![CDATA[Latest News & Views - Sales & Marketing]]></category>
		<category><![CDATA[New Research]]></category>
		<category><![CDATA[online marketing]]></category>
		<category><![CDATA[customer experiences]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[revenue]]></category>
		<category><![CDATA[shopping cart]]></category>
		<category><![CDATA[Tealeaf]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=19241</guid>
		<description><![CDATA[There&#8217;s proof: Research shows a direct correlation between a company&#8217;s ability to manage customer experiences online and the revenue that company generates. For some, it&#8217;s a billion-dollar problem: Businesses are losing out on revenue because they underestimate &#8212; or can&#8217;t grasp &#8212; the significance of the customer experience. On the plus side, nearly four out [...]]]></description>
			<content:encoded><![CDATA[<p>There&#8217;s proof: Research shows a direct correlation between a company&#8217;s ability to manage customer experiences online and the revenue that company generates. <span id="more-19241"></span></p>
<p>For some, it&#8217;s a billion-dollar problem: Businesses are losing out on revenue  because they underestimate &#8212; or can&#8217;t grasp &#8212; the significance of the  customer experience.</p>
<p>On the plus side, nearly four out of five companies <a href="http://econsultancy.com/us/reports/reducing-customer-struggle" target="_blank">surveyed by Tealeaf</a> said they had a good (36%) or OK (43%) grasp of the significance of the overall customer experience.</p>
<p>Of more concern is that 18% of businesses admitted their understanding of customer online experience was poor or very poor.</p>
<p>That takes a hefty toll: An estimated $50 billion in losses.</p>
<p>The biggest problem? Nearly 80% of companies admitted they had limited or no understanding of the reasons why a customer would ditch a shopping cart before making a purchase.</p>
<p>Another point <a href="http://econsultancy.com/us/reports/reducing-customer-struggle" target="_blank">Tealeaf&#8217;s research</a> pounds home: It&#8217;s not just the revenue stream that suffers. Many of companies incur additional costs trying to untangle problems that arise from confusing customer experiences.</p>
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		<title>What makes customers loyal &#8212; and what doesn&#8217;t</title>
		<link>http://www.businessbrief.com/what-makes-customers-loyal-and-what-doesnt/</link>
		<comments>http://www.businessbrief.com/what-makes-customers-loyal-and-what-doesnt/#comments</comments>
		<pubDate>Wed, 25 May 2011 10:00:36 +0000</pubDate>
		<dc:creator>Bob Hill</dc:creator>
				<category><![CDATA[Customer service]]></category>
		<category><![CDATA[In this week's e-newsletter]]></category>
		<category><![CDATA[Latest News & Views]]></category>
		<category><![CDATA[customers]]></category>
		<category><![CDATA[feedback]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[sales]]></category>
		<category><![CDATA[service]]></category>
		<category><![CDATA[study]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=18643</guid>
		<description><![CDATA[Valuable research uncovers the top reason most customers complain, and what drives them into the arms of competitors.  The study, conducted by the consulting firm Accenture, found: More than a third of customers have had a negative experience with a service company and the majority of them have taken the time to complain. One-fifth of [...]]]></description>
			<content:encoded><![CDATA[<p>Valuable research uncovers the top reason most customers complain, and what drives them into the arms of competitors.  <span id="more-18643"></span></p>
<p>The study, conducted by the consulting firm <a href="http://www.accenture.com">Accenture</a>, found:</p>
<ul>
<li>More than a third of customers have had a negative experience with a service company and the majority of them have taken the time to complain.</li>
<li>One-fifth of customers under 35 now express their negative views online, as opposed to contacting a company directly.</li>
<li>Only 10% of customers 35-44 express their negative views online (The rest contact the company directly via email or phone).</li>
</ul>
<p>The findings reveal a major shift, as Marketing and Service pros may now want to monitor online mentions regularly, so they can respond to negative views, salvage relationships and defend the company&#8217;s reputation.</p>
<p>In terms of how today&#8217;s customers react to a negative experience:</p>
<ul>
<li>23% of buyers have switched to a competitor based on a negative experience, and</li>
<li>28% now prefer to &#8220;try out&#8221; other competitors on a regular basis, even if they consistently do business with one specific service provider.</li>
</ul>
<p>The study also suggests consumers don&#8217;t only rate service providers based on the wealth of services they provide, but also how efficiently they provide those services, as well as how effective they are at resolving major issues ASAP.</p>
<p><em><strong>Source: </strong>&#8220;C<a href="http://bucks.blogs.nytimes.com/2011/05/12/consumers-want-fast-friendly-service/?ref=business">onsumers Want Fast, Friendly Service</a>,&#8221; by Ann Carrns, </em>New York Times<em>, 5/12/11.</em></p>
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		<title>Beat the competition by thinking like them: A 3-step strategy</title>
		<link>http://www.businessbrief.com/beat-the-competition-by-thinking-like-them-a-3-step-strategy/</link>
		<comments>http://www.businessbrief.com/beat-the-competition-by-thinking-like-them-a-3-step-strategy/#comments</comments>
		<pubDate>Mon, 18 Apr 2011 11:00:16 +0000</pubDate>
		<dc:creator>Bob Hill</dc:creator>
				<category><![CDATA[closing]]></category>
		<category><![CDATA[In this week's e-newsletter - Sales & Marketing]]></category>
		<category><![CDATA[Latest News & Views - Sales & Marketing]]></category>
		<category><![CDATA[sales management]]></category>
		<category><![CDATA[Sales meeting ideas]]></category>
		<category><![CDATA[training]]></category>
		<category><![CDATA[account]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[value proposition]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=18006</guid>
		<description><![CDATA[In order to close deals, salespeople have to break down each customer on an account by account basis. Here’s how:  Identify the crucial components of the account. Who is this prospect? What are his/her biggest needs? How can your company provide the best solution to the problem? Who else is vying for the account? Research [...]]]></description>
			<content:encoded><![CDATA[<p>In order to close deals, salespeople have to break down each customer on an account by account basis. Here’s how:  <span id="more-18006"></span></p>
<ol>
<li><strong>Identify the crucial components of the account.</strong> Who is this prospect? What are his/her biggest needs? How can your company provide the best solution to the problem? Who else is vying for the account?</li>
<li><strong>Research the competitor (or incumbent supplier) that is also vying for the account.</strong> What does the competitor offer that you can&#8217;t? What are its biggest selling points? How can you counter those? How do your major selling points match up against the competitor&#8217;s? What are the crucial differences between you and the competitor? How can you use that information to add more value to your proposal?</li>
<li><strong>Create a definitive value proposition.</strong> If you&#8217;ve answered these questions, you know how your competition is going to approach the sale. Once you know that, you can anticipate the prospect&#8217;s questions and provide answers before they even ask.</li>
</ol>
<p>Every competitive selling situation is like a game of chess. The player who&#8217;s thinking five steps ahead always has an edge on the opponent who&#8217;s only considering the next move.</p>
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		<title>How to develop a comp plan that maximizes sales, satisfaction</title>
		<link>http://www.businessbrief.com/how-to-develop-a-comp-plan-that-maximizes-sales-satisfaction/</link>
		<comments>http://www.businessbrief.com/how-to-develop-a-comp-plan-that-maximizes-sales-satisfaction/#comments</comments>
		<pubDate>Tue, 12 Apr 2011 11:00:26 +0000</pubDate>
		<dc:creator>Bob Hill</dc:creator>
				<category><![CDATA[closing]]></category>
		<category><![CDATA[Compensation]]></category>
		<category><![CDATA[customer loyalty]]></category>
		<category><![CDATA[New Research]]></category>
		<category><![CDATA[sales management]]></category>
		<category><![CDATA[Special Report - Sales & Marketing]]></category>
		<category><![CDATA[Adam Grant]]></category>
		<category><![CDATA[bonus]]></category>
		<category><![CDATA[comp plan]]></category>
		<category><![CDATA[incentives]]></category>
		<category><![CDATA[Jitendra Singh]]></category>
		<category><![CDATA[non-cash]]></category>
		<category><![CDATA[performance]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[rewards]]></category>
		<category><![CDATA[Wharton]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=18008</guid>
		<description><![CDATA[It&#8217;s the age old question: How do you build a compensation plan that encourages salespeople to close deals for the right reasons?  The answer, according to Wharton management professors Adam Grant and Jitendra Singh, is to provide a unique combination of monetary rewards and non-cash incentives. According to their research, financial rewards can increase performance [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.businessbrief.com/how-to-develop-a-comp-plan-that-maximizes-sales-satisfaction/"><img class="alignnone size-full wp-image-15720" title="piggy-bank-money" src="http://www.businessbrief.com/wp-content/uploads/2011/01/piggy-bank-money.jpg" alt="piggy-bank-money" width="360" height="305" /></a></p>
<p>It&#8217;s the age old question: How do you build a compensation plan that encourages salespeople to close deals for the right reasons?  <span id="more-18008"></span></p>
<p>The answer, according to Wharton management professors <a href="http://knowledge.wharton.upenn.edu/article.cfm?articleid=2741" target="_blank">Adam Grant and Jitendra Singh</a>, is to provide a unique combination of monetary rewards and non-cash incentives.</p>
<p>According to their research, financial rewards can increase performance by 42-49%.</p>
<p>But, as most sales managers know, salespeople who rush to close sales simply to reach the next bonus level or earn more cash aren&#8217;t necessarily doing so for all the right reasons.</p>
<p>That&#8217;s where non-cash incentives come in. The majority of successful sales organizations offer non-cash incentives that reward positive behaviors that lead to positive results (i.e., employee of the month incentives, customer loyalty incentives, repeat business incentives, referral incentives, etc.).</p>
<p>Grant and Singh argue only providing cash rewards can lead to the following negative behaviors:</p>
<ul>
<li>Salespeople cutting corners</li>
<li>Resentment from consistent salespeople who follow the company&#8217;s selling process, while fast-talking scammers are taking advantage of the system, and/or</li>
<li>Undermining the sense of collegiality, because some salespeople will only be interested in taking part in activities that will lead to them earning more bonuses. For this reason, they tend to skip meetings, ignore admin tasks and/or any other required tasks that don&#8217;t directly contribute to higher closing rates.</li>
</ul>
<p>Four ways Grant and Singh suggest sales managers reward salespeople without cash:</p>
<ol>
<li>Provide more autonomy for salespeople who have proven they can be trusted to manage themselves</li>
<li>Offer the opportunity to earn certification, attend seminars or take sales mastery courses (for salespeople whose behavior warrants those rewards)</li>
<li>Hold public recognition ceremonies, and/or</li>
<li>Extend a sense of job security by offering senior positions and/or tenure for veteran salespeople who have contributed a great deal to the organization.</li>
</ol>
<p><em><strong>Source: </strong>&#8220;<a href="http://www.cfozone.com/index.php/Newsflash/Why-executive-compensation-needs-non-financial-incentives.html" target="_blank">Why executive compensation needs non-financial incentives</a>,&#8221; by Anne Field, </em>CFOZone, 4/1/11.<em> </em></p>
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		<title>Lucky 7: Ways to turn lost sales into goldmines</title>
		<link>http://www.businessbrief.com/lucky-7-ways-to-turn-lost-sales-into-goldmines/</link>
		<comments>http://www.businessbrief.com/lucky-7-ways-to-turn-lost-sales-into-goldmines/#comments</comments>
		<pubDate>Tue, 29 Mar 2011 11:00:12 +0000</pubDate>
		<dc:creator>Ken Dooley</dc:creator>
				<category><![CDATA[closing]]></category>
		<category><![CDATA[communication]]></category>
		<category><![CDATA[negotiating]]></category>
		<category><![CDATA[Sales meeting ideas]]></category>
		<category><![CDATA[Special Report - Sales & Marketing]]></category>
		<category><![CDATA[training]]></category>
		<category><![CDATA[calling]]></category>
		<category><![CDATA[calls]]></category>
		<category><![CDATA[feedback]]></category>
		<category><![CDATA[objection]]></category>
		<category><![CDATA[presentation]]></category>
		<category><![CDATA[proposal]]></category>
		<category><![CDATA[rejected]]></category>
		<category><![CDATA[research]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=17650</guid>
		<description><![CDATA[It&#8217;s estimated that four out of five deals are closed with buyers who&#8217;d previously rejected a similar offer. So prospects who rejected you yesterday may be ready to buy right now if you approach them the right way. Here are a few tips to share with your salespeople when they’re calling on prospects who have turned [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.businessbrief.com/lucky-7-ways-to-turn-lost-sales-into-goldmines/"><img class="alignnone size-full wp-image-17685" title="gold-money" src="http://www.businessbrief.com/wp-content/uploads/2011/03/gold-money.jpg" alt="gold-money" width="360" height="239" /></a></p>
<p>It&#8217;s estimated that four out of five deals are closed with buyers who&#8217;d previously rejected a similar offer. So prospects who rejected you yesterday may be ready to buy right now if you approach them the right way. <span id="more-17650"></span></p>
<p>Here are a few tips to share with your salespeople when they’re calling on prospects who have turned them down in the past.</p>
<ul>
<li><strong>Approach these prospects as if you’re calling on them for the first time.</strong> Try to avoid any references to prior calls, unless the prospect brings them up. It’s usually better to start with a clean slate.</li>
<li><strong>Try to remember what you did or didn’t do on the previous call.</strong> List a few things you plan to do differently when you call on the prospect again.</li>
<li><strong>If possible, try to come up with the reasons  the prospect turned you down previously.</strong> If you know the specific objection, what will you change in your presentation to address it?</li>
<li><strong>Research the buying needs of the prospect.</strong> You will get turned down again if you don’t come up with a plan before the call.</li>
<li><strong>Make sure the prospect has a clear understanding about your products and services.</strong> Do any objections seem product-related or personal?</li>
<li><strong>If your prospect turned you down because of budgetary reasons, address those reasons early in your proposal.</strong> Try to help the prospect envision a high-value payoff with your product or service.</li>
<li><strong>Keep a journal of positive customer feedback and repeat sales.</strong> Compare that feedback to what you get from prospects that turn you down. It might lead to a breakthrough.</li>
</ul>
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		<title>The Top 10 Things Salespeople SHOULD Be Doing</title>
		<link>http://www.businessbrief.com/the-top-10-things-salespeople-should-be-doing/</link>
		<comments>http://www.businessbrief.com/the-top-10-things-salespeople-should-be-doing/#comments</comments>
		<pubDate>Mon, 28 Mar 2011 11:00:21 +0000</pubDate>
		<dc:creator>Bob Hill</dc:creator>
				<category><![CDATA[closing]]></category>
		<category><![CDATA[In this week's e-newsletter - Sales & Marketing]]></category>
		<category><![CDATA[Latest News & Views - Sales & Marketing]]></category>
		<category><![CDATA[sales management]]></category>
		<category><![CDATA[Sales meeting ideas]]></category>
		<category><![CDATA[training]]></category>
		<category><![CDATA[best practices]]></category>
		<category><![CDATA[cold call]]></category>
		<category><![CDATA[goals]]></category>
		<category><![CDATA[planning]]></category>
		<category><![CDATA[qualifying]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[strategizing]]></category>
		<category><![CDATA[Top performers]]></category>
		<category><![CDATA[Value]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=17597</guid>
		<description><![CDATA[Recently, we posted a list of &#8220;The Top 10 Things Salespeople Shouldn&#8217;t Be Doing.&#8221; With that in mind, here are the top 10 things salespeople should be doing right now:  Setting consistent goals that raise the bar. There are two main problems with the goal-setting process at most sales organizations. The first is there&#8217;s no [...]]]></description>
			<content:encoded><![CDATA[<p>Recently, we posted a list of &#8220;<a href="http://www.businessbrief.com/the-top-10-things-salespeople-shouldnt-be-doing/" target="_blank">The Top 10 Things Salespeople Shouldn&#8217;t Be Doing</a>.&#8221; With that in mind, here are the top 10 things salespeople should be doing right now:  <span id="more-17597"></span></p>
<ol>
<li><strong>Setting consistent goals that raise the bar. </strong>There are two main problems with the goal-setting process at most sales organizations. The first is there&#8217;s no consistent follow up by management. The second is, after a while, salespeople simply set the same goals for themselves every pay period and never push themselves to reach the next level.</li>
<li><strong>Strategizing. </strong>When salespeople set goals, they should also have a step-by-step plan in place for achieving those goals (along with a realistic time line). The problem in most cases is that the plan is nothing more than a restatement of the goal, which is why some salespeople never realize how unrealistic their goals are.</li>
<li><strong>Pre-call research and planning. </strong>Salespeople should know the goal of every cold call and meeting before it begins. When you know what your destination is, it&#8217;s much easier to steer the conversation in the right direction.</li>
<li><strong>More listening than talking. </strong>Salespeople should usually be the people asking the questions. Prospects should be the ones answering them &#8212; and therefore doing the majority of the talking.</li>
<li><strong>Translating value in specific terms. </strong>Every prospect is different, which is why every presentation should be different. Know what a prospect&#8217;s specific needs and obstacles are and tailor your key selling points accordingly.</li>
<li><strong>Focusing on the prospect, not the product. </strong>Products don&#8217;t change, prospects do. Salespeople need to adjust to each prospect&#8217;s situation and determine how they can provide the ideal solution.</li>
<li><strong>Anticipating objections. </strong>If you can see the objection coming, you may be able to avoid it altogether.</li>
<li><strong>Prioritizing opportunities. </strong>Spend the bulk of your time with the prospect who has the highest chance of buying (based on customer profiles), not the prospect with the biggest bank account.</li>
<li><strong>Qualifying prospects up front. </strong>If a prospect can&#8217;t make the buying decision, move on to someone who can. It&#8217;ll save time and increase your closing rate.</li>
<li><strong>Maintaining a constant cycle of contact with existing customers. </strong>The stronger your relationship, the more loyal your buyers.</li>
</ol>
<p><em>Based in part on &#8220;<a href="http://www.businessknowhow.com/marketing/bestpractices.htm" target="_blank">17 Best Practices of Top Performers</a>,&#8221; by Kelley Robertson.</em></p>
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		<title>Kids surfing the Net – while still potty training</title>
		<link>http://www.businessbrief.com/kids-surfing-the-net-%e2%80%93-while-still-potty-training/</link>
		<comments>http://www.businessbrief.com/kids-surfing-the-net-%e2%80%93-while-still-potty-training/#comments</comments>
		<pubDate>Tue, 22 Mar 2011 11:00:59 +0000</pubDate>
		<dc:creator>Charlie Walker</dc:creator>
				<category><![CDATA[In this week's e-newsletter - Sales & Marketing]]></category>
		<category><![CDATA[Industry Spotlight - Sales & Marketing]]></category>
		<category><![CDATA[Latest News & Views - Sales & Marketing]]></category>
		<category><![CDATA[online marketing]]></category>
		<category><![CDATA[gossip]]></category>
		<category><![CDATA[Hollywood]]></category>
		<category><![CDATA[Joan Ganz Cooney Center]]></category>
		<category><![CDATA[mobile]]></category>
		<category><![CDATA[report]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[Sesame Street Workshop]]></category>
		<category><![CDATA[study]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=17452</guid>
		<description><![CDATA[There&#8217;s a large segment of the market companies are overlooking: the Pre-K crowd. Four out five U.S. children who are five and younger use the Internet every week, according to a new research report released by the Joan Ganz Cooney Center and Sesame Street Workshop. Of course, it&#8217;s not likely these kids are playing online [...]]]></description>
			<content:encoded><![CDATA[<p>There&#8217;s a large segment of the market companies are overlooking: the Pre-K crowd. <span id="more-17452"></span></p>
<p>Four out five U.S. children who are five and younger use the Internet every week, according to a new <a href="http://www.scribd.com/doc/50739070/Always-Connected-The-new-digitial-media-habits-of-young-children" target="_blank">research report</a> released by the Joan Ganz Cooney Center and Sesame Street Workshop.</p>
<p>Of course, it&#8217;s not likely these kids are playing online poker or keeping up with the latest Hollywood gossip.</p>
<p>For the most part, they&#8217;re watching videos, generally an extension of their TV viewing habits.</p>
<p>Another interesting finding: 5% of all five-year-olds use a mobile phone. For seven-year-olds, that number increases to 15%.</p>
<p>TV still remains the media of choice. Most kids spend at least three hours a day in front of the tube, and viewership among the Pre-K crowd is growing.</p>
<p>Still, there&#8217;s good news for teachers and parents:</p>
<p>A 2008 Sesame Workshop study showed that 90% of kids age five to nine spent at least one hour a day doing it the old-fashioned way: reading physical texts &#8212; the ones where you have to turn the pages instead of clicking a mouse.</p>
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		<title>Does your IT know all about SSD?</title>
		<link>http://www.businessbrief.com/does-your-it-know-about-ssd/</link>
		<comments>http://www.businessbrief.com/does-your-it-know-about-ssd/#comments</comments>
		<pubDate>Tue, 15 Mar 2011 10:00:46 +0000</pubDate>
		<dc:creator>Valerie Helmbreck</dc:creator>
				<category><![CDATA[In this week's e-newsletter]]></category>
		<category><![CDATA[Latest News & Views]]></category>
		<category><![CDATA[Technology]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[sanitize]]></category>
		<category><![CDATA[solid state drives]]></category>
		<category><![CDATA[SSD]]></category>
		<category><![CDATA[University of California at San Diego]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=17113</guid>
		<description><![CDATA[Has your IT team moved to the new Solid State Disk drives for storage of important data and applications? Have you asked them the right questions about this new technology? In case you haven&#8217;t, here&#8217;s the latest potential problem your organization could face if it&#8217;s adopted SSD as a replacement for hard drives or tape [...]]]></description>
			<content:encoded><![CDATA[<p>Has your IT team moved to the new Solid State Disk drives for storage of important data and applications? Have you asked them the right questions about this new technology?</p>
<p><span id="more-17113"></span>In case you haven&#8217;t, here&#8217;s the latest potential problem your organization could face if it&#8217;s adopted SSD as a replacement for hard drives or tape (the conventional methods for storage for many many years.)</p>
<p>SSD&#8217;s hit the market a couple of years ago and have been gaining popularity in data centers around the world. They&#8217;ve been replacing hard disk drives, electromechanical devices that involve spinning disks and movable &#8220;heads&#8221; on which data is written and stored. SSDs, on the other hand, use microchips to hold data and don&#8217;t have moving parts.</p>
<p>SSDs are popular with data center managers because they&#8217;re faster, quieter and stand up better to being moved around. In the effort to trim data center costs, they&#8217;re a champ.</p>
<p>The problem is, according to a new study, they&#8217;re also almost impossible to erase using conventional methods. This means that sanitizing an SSD &#8212; purging it of your organization&#8217;s sensitive and valuable data &#8212; can be very difficult if you attempt to use the methods of the past that worked with hard drives and tape.</p>
<p>A study carried out by researchers a the University of California at San Diego found that cleaning out data from SSDs is tough at best and nearly impossible at worst. While overwriting data several times  can ensure data erasure on many SSDs, the researchers found they were  still able to recover data on some products.</p>
<p>One surefire way to protect SSD data is cryptographic  erasure. This means first encrypting an SSD so that only users  holding passwords can access its data. When the SSD is at end of life,  the user can delete the encryption keys on the drive, which eliminates the  possibility of unencrypting or accessing the data.</p>
<p>The UCSD researchers are looking for a better way to fix the problem, but until they do, organizations that use SSD will need to be aware of the problem and take steps to protect data stored on drives they may be retiring or re-purposing.</p>
<p>You can pass along the warnings from the<a title="UCSD sanitize" href="http://nvsl.ucsd.edu/sanitize/" target="_blank"> UCSD researchers here.</a></p>
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		<title>More bang from holiday e-mail</title>
		<link>http://www.businessbrief.com/more-bang-from-holiday-e-mail/</link>
		<comments>http://www.businessbrief.com/more-bang-from-holiday-e-mail/#comments</comments>
		<pubDate>Thu, 02 Dec 2010 11:00:12 +0000</pubDate>
		<dc:creator>Charlie Walker</dc:creator>
				<category><![CDATA[communication]]></category>
		<category><![CDATA[Email Strategies]]></category>
		<category><![CDATA[In this week's e-newsletter - Sales & Marketing]]></category>
		<category><![CDATA[Latest News & Views - Sales & Marketing]]></category>
		<category><![CDATA[New Research]]></category>
		<category><![CDATA[online marketing]]></category>
		<category><![CDATA[compaigns]]></category>
		<category><![CDATA[conversion rates]]></category>
		<category><![CDATA[e-mail]]></category>
		<category><![CDATA[e-mail marketing]]></category>
		<category><![CDATA[holiday]]></category>
		<category><![CDATA[messages]]></category>
		<category><![CDATA[New Year]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[social media]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=14842</guid>
		<description><![CDATA[Here&#8217;s one way to ramp up the ROI of your holiday e-mail blitz. Begin your prep work with an examination of what worked &#8212; and what didn&#8217;t &#8212; last year. What kind of messages or tactics generated the highest conversion rates last year? Which ones fell with a silent thud? Another idea: Check which e-mails [...]]]></description>
			<content:encoded><![CDATA[<p>Here&#8217;s one way to ramp up the ROI of your holiday e-mail blitz. <span id="more-14842"></span></p>
<p>Begin your prep work with an examination of what worked &#8212; and what didn&#8217;t &#8212; last year. What kind of messages or tactics generated the highest conversion rates last year? Which ones fell with a silent thud?</p>
<p>Another idea: Check which e-mails and what approaches fared best in social media. What messages were shared with other potential customers?</p>
<p><strong>Extend your campaigns into the New Year</strong></p>
<p>This year, like last, the buying season won&#8217;t end at midnight Dec. 24.</p>
<p>That means you should extend campaigns to reach into the New Year, like cross-sell, up-sell and gift card redemption opportunities.</p>
<p>New research from <a href="http://www.listrak.com/News/holiday-email-suggestions/" target="_blank">Listrak</a>,  an e-mail marketing firm, shows people plan to shop well into January, but they&#8217;ll be more discerning about what they put &#8212; and keep &#8212; in their shopping carts.</p>
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		<title>The top 10 ways to build loyalty, long-term customer relationships</title>
		<link>http://www.businessbrief.com/the-top-10-ways-to-build-loyalty-long-term-customer-relationships/</link>
		<comments>http://www.businessbrief.com/the-top-10-ways-to-build-loyalty-long-term-customer-relationships/#comments</comments>
		<pubDate>Thu, 25 Nov 2010 11:00:04 +0000</pubDate>
		<dc:creator>Bob Hill</dc:creator>
				<category><![CDATA[customer loyalty]]></category>
		<category><![CDATA[In this week's e-newsletter - Sales & Marketing]]></category>
		<category><![CDATA[Latest News & Views - Sales & Marketing]]></category>
		<category><![CDATA[New Research]]></category>
		<category><![CDATA[sales management]]></category>
		<category><![CDATA[Sales meeting ideas]]></category>
		<category><![CDATA[Value]]></category>
		<category><![CDATA[benchmarks]]></category>
		<category><![CDATA[boost sales]]></category>
		<category><![CDATA[Fortune 500]]></category>
		<category><![CDATA[incentives]]></category>
		<category><![CDATA[loyalty]]></category>
		<category><![CDATA[milestones]]></category>
		<category><![CDATA[referrals]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[rewards]]></category>
		<category><![CDATA[rewards program]]></category>
		<category><![CDATA[strategies]]></category>
		<category><![CDATA[Top 10]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=14652</guid>
		<description><![CDATA[Repeat business is the foundation of a positive revenue stream. With that in mind, here are 10 strategies salespeople can use to cement their bond with buyers, and, ultimately, boost sales and loyalty. Maintain a regular cycle of contact. Doing so doesn&#8217;t only help salespeople get to know their customers better, it also increases the [...]]]></description>
			<content:encoded><![CDATA[<p>Repeat business is the foundation of a positive revenue stream. With that in mind, here are 10 strategies salespeople can use to cement their bond with buyers, and, ultimately, boost sales and loyalty. <span id="more-14652"></span></p>
<ol>
<li><strong>Maintain a regular cycle of contact. </strong>Doing so doesn&#8217;t only help salespeople get to know their customers better, it also increases the chance salespeople will be the first ones to know when a service issue arises. That often minimizes the damage, and it may even provide an opportunity for salespeople to strengthen the relationship.</li>
<li><strong>Solicit constant, proactive feedback. </strong>Give customers a voice and they&#8217;ll repay you with their business. So make sure you&#8217;re soliciting ongoing feedback before, during and after each sale. One word of warning &#8212; research shows less than half of prospects are willing to be completely honest with a salesperson they&#8217;ve already refused to do business with.</li>
<li><strong>Celebrate benchmarks. </strong>Do you keep track of &#8212; and/or publicly acknowledge &#8212; when a customer&#8217;s been with you for one year? Five years? 10 years? 20? Loyal customers are the lifeblood of your organization. Let them know their business is appreciated by providing rewards and incentives for hitting certain milestones.</li>
<li><strong>Create a rewards program. </strong>Most Fortune 500 companies have some version of a rewards program. Why? Because customers who are closing in on a goal are less likely to leave and do business with another company. Not only that, but rewarding customers with &#8220;points&#8221; (e.g., frequent flyer miles, Camel Cash, Marlboro Miles, etc.) ensures they&#8217;ll make all of their purchases from your company because it&#8217;s in their best interest to do so.</li>
<li><strong>Promote referrals. </strong>Let customers know your company rewards those who attract new prospects and/or business. The more colleagues a customer refers to your company, the more powerful an advocate they become. And, long term, the more they become invested in what you&#8217;re organization does.</li>
<li><strong>Host regular seminars/luncheons. </strong>Invite your best customers to your headquarters for lunch or a one-day seminar. This provides a perfect opportunity for them to meet other customers, as well as C-level executives and other notable employees from your company. The more staff members each customer meets, the more he/she starts to feel like an extended part of your corporate family.</li>
<li><strong>Take personal accountability for solving problems. </strong>More than 50%  of customers claim they&#8217;d never do business with a company again if it took more than 24 hours to resolve a service issue, according to a recent survey. The point being, customers want to feel assured they have someone they can trust at the company who has their best interest at heart. If customers are forced to wait on hold for 15 minutes before dealing with an anonymous service rep who doesn&#8217;t have any real stake in ensuring their problems get resolved, chances are they&#8217;ll start looking for another supplier/salesperson.</li>
<li><strong>Relinquish a certain amount of control. </strong>Empower customers by  letting them know they&#8217;re the ones calling the shots. Doing so positions  the salesperson as an advocate. And it also makes buyers feel they&#8217;re  being treated with the respect they deserve.</li>
<li><strong>Don&#8217;t make everything about business. </strong>Spend some time out of the office with your best customers. Go to a game. Play a round of golf. Meet them at happy hour. And make it a point not to discuss business, unless they bring it up. One of the keys to being an effective salesperson is making sure customers feel comfortable dealing with you. The stronger your personal relationships with buyers, the more comfortable they&#8217;ll feel.</li>
<li><strong>Get to know several people at the customer&#8217;s company. </strong>Building strong relationships is a two-way street. The more points of contact salespeople have at each customer&#8217;s company, the stronger their foothold. In addition, they&#8217;re in a much better decision to win a majority vote if a purchase needs to be approved by a board of decision makers.</li>
</ol>
<p><em>Do you have any other customer relationship-building tips you&#8217;re willing to share? Feel free to add them in the Comments Box below. </em></p>
<p><em><br />
</em></p>
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		<title>Common traits of top closers</title>
		<link>http://www.businessbrief.com/common-traits-of-top-closers/</link>
		<comments>http://www.businessbrief.com/common-traits-of-top-closers/#comments</comments>
		<pubDate>Mon, 08 Nov 2010 11:00:48 +0000</pubDate>
		<dc:creator>Bob Hill</dc:creator>
				<category><![CDATA[closing]]></category>
		<category><![CDATA[In this week's e-newsletter - Sales & Marketing]]></category>
		<category><![CDATA[Latest News & Views - Sales & Marketing]]></category>
		<category><![CDATA[negotiating]]></category>
		<category><![CDATA[sales management]]></category>
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		<category><![CDATA[Value]]></category>
		<category><![CDATA[benefits]]></category>
		<category><![CDATA[differentiate]]></category>
		<category><![CDATA[incumbent supplier]]></category>
		<category><![CDATA[mission]]></category>
		<category><![CDATA[relationship]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[sales superstar]]></category>
		<category><![CDATA[solution]]></category>
		<category><![CDATA[top closers]]></category>
		<category><![CDATA[traits]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=14365</guid>
		<description><![CDATA[Not everyone can duplicate what makes a sales superstar great, but instilling these four traits in your salespeople could have a major impact on closing rates. 1. The ability to overcome &#8216;sales inertia&#8217; For some salespeople, the biggest obstacle to closing is the fact that a prospect is reluctant to stop doing business with an [...]]]></description>
			<content:encoded><![CDATA[<p>Not everyone can duplicate what makes a sales superstar great, but instilling these four traits in your salespeople could have a major impact on closing rates. <span id="more-14365"></span></p>
<p><strong>1. The ability to overcome &#8216;sales inertia&#8217;</strong></p>
<p><strong></strong>For some salespeople, the biggest obstacle to closing is the fact that a prospect is reluctant to stop doing business with an incumbent supplier.</p>
<p>Instead of accepting the fact that prospects with incumbent suppliers aren&#8217;t worth the effort, top closers conduct precall research to uncover areas where the existing supplier is coming up short.</p>
<p>Top closers may also focus on benefits they offer that the existing supplier can&#8217;t, using them as a way of making the prospect consider a change.</p>
<p><strong>2. Specialization</strong></p>
<p>In today&#8217;s competitive marketplace, there&#8217;s often very little that separates one company&#8217;s products and services from a competitor&#8217;s.</p>
<p>Top closers differentiate their offer by focusing on each sale from the prospect&#8217;s perspective. What motivates each prospect to buy? How does the prospect&#8217;s buying process work? What are his or her biggest needs and how can your company provide the ideal solution? These are the questions prospects want answers to.</p>
<p>Top closers may even contact others at the prospect’s company to learn more about the company&#8217;s goals, its mission and what the prospect values most.</p>
<p><strong>3. The patience to gain one commitment at a time </strong></p>
<p>Great salespeople don&#8217;t go into every sales situation expecting to close a prospect, at least not at first. Instead, they work to earn the prospect&#8217;s trust one commitment at a time.</p>
<p>The goal of the first meeting may be nothing more than to schedule a second meeting. After that, the goal of each sales call is to move the sale forward with small commitments &#8212; a demo, a free trial, an agreement to draw up a contract, etc.</p>
<p>When broken down into these small steps, the buying decision isn&#8217;t nearly as daunting, and the salesperson builds a worthwhile relationship at the same time.</p>
<p><strong>4. The skill to develop partnerships</strong></p>
<p><strong> </strong>The number one complaint today&#8217;s buyers have about salespeople is that they don’t abide by the prospect&#8217;s buying process.</p>
<p>Top closers work with prospects early on to understand how their buying process works. Then they create a timeline based on when the prospect is looking to make a buying decision.</p>
<p>The more a salesperson is viewed as an advocate (and an ally), the better the chance he/she will ultimately win more business.</p>
<p><em>Based in part on</em> the book Sales Presentation Techniques: That Really Work <em>by Stephan Schiffman<br />
</em></p>
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		<title>The 4 biggest reasons prospects say &#8216;no&#8217; &#8212; and overcoming them</title>
		<link>http://www.businessbrief.com/the-4-biggest-reasons-prospects-say-no-and-overcoming-them/</link>
		<comments>http://www.businessbrief.com/the-4-biggest-reasons-prospects-say-no-and-overcoming-them/#comments</comments>
		<pubDate>Tue, 26 Oct 2010 11:00:38 +0000</pubDate>
		<dc:creator>Bob Hill</dc:creator>
				<category><![CDATA[closing]]></category>
		<category><![CDATA[communication]]></category>
		<category><![CDATA[In this week's e-newsletter - Sales & Marketing]]></category>
		<category><![CDATA[Latest News & Views - Sales & Marketing]]></category>
		<category><![CDATA[New Research]]></category>
		<category><![CDATA[Sales meeting ideas]]></category>
		<category><![CDATA[training]]></category>
		<category><![CDATA[Value]]></category>
		<category><![CDATA[BlackBerry]]></category>
		<category><![CDATA[budgets]]></category>
		<category><![CDATA[iphone]]></category>
		<category><![CDATA[listening skills]]></category>
		<category><![CDATA[Microsoft]]></category>
		<category><![CDATA[office]]></category>
		<category><![CDATA[Outlook]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[stalling]]></category>
		<category><![CDATA[study]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=13626</guid>
		<description><![CDATA[Between tight budgets and stalling prospects, there are plenty of obstacles for salespeople to overcome these days.  But there are four specific reasons the majority of today’s buyers won’t agree to a sale, according to a Harvard Business Review study. And those reasons have more to do with selling skills than any type of budgetary [...]]]></description>
			<content:encoded><![CDATA[<p>Between tight budgets and stalling prospects, there are plenty of obstacles for salespeople to overcome these days.  <span id="more-13626"></span></p>
<p>But there are four specific reasons the majority of today’s buyers won’t agree to a sale, according to a <a href="http://hbr.org/2006/07/sales-reps-biggest-mistakes/ar/1" target="_blank">Harvard Business Review study</a>.</p>
<p>And those reasons have more to do with selling skills than any type of budgetary constraints.</p>
<p>Here are the four areas prospects feel salespeople should pay more attention to, and how salespeople can overcome them to win more business:</p>
<ol>
<li><strong>Focus on the prospect&#8217;s buying process. </strong>More than a quarter of today&#8217;s prospects say their biggest complaint is that salespeople don&#8217;t take enough time to understand (and follow) their buying processes. That not only frustrates prospects, in many cases it makes it difficult for them to agree to do business at all. Partnering with prospects early on to create a timeline for the sale &#8212; based on how their process works and when they&#8217;d like to make a buying decision &#8212; builds trust, and it also helps salespeople know when prospects are simply stalling to avoid saying, &#8220;no.&#8221;</li>
<li><strong>Be attentive to buyers&#8217; needs. </strong>Nearly one-fifth of buyers feel salespeople need to develop sharper listening skills. Even when certain assumptions seem like no-brainers, many prospects would prefer salespeople ask more questions to confirm suspicions and understand their business better. With so much information available online these days, it’s much easier for salespeople to do precall research. By asking a prospect if his or her assumptions are correct, a salesperson can avoid any type of miscommunication further down the line. Plus, it shows the salesperson has done his or her homework.</li>
<li><strong>Less push, more pull. </strong>Twelve percent of buyers feel salespeople should be less aggressive, rather than trying to push them into buying decisions before they&#8217;re ready to commit. Traditionally, trial closes have been an effective way to gauge whether prospects are prepared to agree to a sale. But another tactic that works for today&#8217;s salespeople is gaining small commitments along the way in order to make prospects feel less intimidated by the notion of making a final buying decision. That commitment may be as simple as getting prospects to agree to a second meeting or having them agree to a demo. The goal is to slowly invest the prospect in the process so the overall commitment of agreeing to do business isn&#8217;t nearly as daunting.</li>
<li><strong>Consistent follow through. </strong>Another<strong> </strong>17% of prospects want salespeople to follow up with them on a more consistent basis (or resolve problems in a more timely manner). Taking notes during each sales call has always been an effective way to ensure nothing falls between the cracks. But with desktop tools like Microsoft Outlook and Office, as well as Blackberry devices and iPhones, salespeople can also set automatic reminders to alert them when &#8212; and why &#8212; they need to follow up with prospects.</li>
</ol>
<p><em><strong>Source: </strong>&#8220;<a href="http://hbr.org/2006/07/sales-reps-biggest-mistakes/ar/1" target="_blank">Sales Reps’ Biggest Mistakes</a>,&#8221; by Tom Atkinson,</em> Harvard Business Review.</p>
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		<title>Bolster the bottom line by thinking like prospects</title>
		<link>http://www.businessbrief.com/bolster-the-bottom-line-by-thinking-like-prospects/</link>
		<comments>http://www.businessbrief.com/bolster-the-bottom-line-by-thinking-like-prospects/#comments</comments>
		<pubDate>Wed, 13 Oct 2010 11:00:49 +0000</pubDate>
		<dc:creator>Bob Hill</dc:creator>
				<category><![CDATA[closing]]></category>
		<category><![CDATA[In this week's e-newsletter - Sales & Marketing]]></category>
		<category><![CDATA[Latest News & Views - Sales & Marketing]]></category>
		<category><![CDATA[Sales meeting ideas]]></category>
		<category><![CDATA[training]]></category>
		<category><![CDATA[Value]]></category>
		<category><![CDATA[B2B]]></category>
		<category><![CDATA[blogs]]></category>
		<category><![CDATA[mission]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[social networking]]></category>
		<category><![CDATA[values]]></category>
		<category><![CDATA[websites]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=13517</guid>
		<description><![CDATA[Here are five strategies the best in the business use to think like their buyers and, ultimately, close more sales.  Understand the long-term vision: In today&#8217;s turbulent marketplace, most prospects need a very good reason to consider leaving one supplier for another. They want to feel secure and that they&#8217;re making a decision to do [...]]]></description>
			<content:encoded><![CDATA[<p>Here are five strategies the best in the business use to think like their buyers and, ultimately, close more sales.  <span id="more-13517"></span></p>
<ol>
<li><strong>Understand the long-term vision: </strong>In today&#8217;s turbulent marketplace, most prospects need a very good reason to consider leaving one supplier for another. They want to feel secure and that they&#8217;re making a decision to do business with a salesperson (and company) who they&#8217;ll be able to count on for months and years to come. One way to create that impression: Conduct pre-call research to understand a prospect&#8217;s long-term vision and goals, and &#8212; more importantly &#8212; what role your products and services can play in helping the prospect achieve those goals.</li>
<li><strong>Develop sources within the company: </strong>In the majority of B2B sales situations, there&#8217;s more than one contact at the prospect&#8217;s company who&#8217;s involved with (or impacted by) the final buying decision. Building relationships with those secondary contacts may provide some additional momentum, especially in cases where the purchase needs to be approved by a board of decision makers. Ask these prospects how the decision will impact their departments, as well as other departments in the company. Probe to determine how the buying process works and what each prospect’s priorities are when considering a purchase. The easier you can make it for prospects to justify the cost of doing business, the better chance you’ll have of earning their trust (and the sale).</li>
<li><strong>Gain a sense of the prospect&#8217;s customers: </strong>Most prospects want to consider what’s best for their customers before making any major buying decisions. That&#8217;s why it helps to know who each prospect&#8217;s customers are, what matters most to them, and how your offer can help the prospect attract more buyers, while eliminating unnecessary costs.</li>
<li><strong>Use every resource available: </strong>With so much information available online these days, it&#8217;s become easier for sales pros to gain a firm grasp on each prospect&#8217;s needs (and concerns) before the first meeting even takes place. Company websites, blogs, social networking sites, consumer reviews and online press releases are all great ways to gain additional insight about what the prospect’s mission and values are. More importantly, these resources may reveal a key selling point that&#8217;ll increase the value of your offer.</li>
<li><strong>Know thy competition: </strong>Whether it&#8217;s an incumbent supplier or several people vying for the same contract, it&#8217;s best to know who you&#8217;re competing with and how your offer stacks up. Once you&#8217;ve developed a competitive analysis, pinpoint all the areas where you can offer superior value. It won&#8217;t only differentiate you from the competition, it may also provide the edge necessary to come out on top.</li>
</ol>
<p><em>Adapted from the book</em> Bag the Elephant!<em> </em>How to Win and Keep Big Customers<em> by <a href="http://www.stevekaplanlive.com/" target="_blank">Steven Kaplan</a></em>.</p>
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		<title>The 9 qualities all top performers share</title>
		<link>http://www.businessbrief.com/the-9-qualities-all-top-performers-shar/</link>
		<comments>http://www.businessbrief.com/the-9-qualities-all-top-performers-shar/#comments</comments>
		<pubDate>Tue, 12 Oct 2010 11:00:15 +0000</pubDate>
		<dc:creator>Ken Dooley</dc:creator>
				<category><![CDATA[communication]]></category>
		<category><![CDATA[customer loyalty]]></category>
		<category><![CDATA[New Research]]></category>
		<category><![CDATA[sales management]]></category>
		<category><![CDATA[Special Report - Sales & Marketing]]></category>
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		<category><![CDATA[Listening]]></category>
		<category><![CDATA[presentations]]></category>
		<category><![CDATA[qualities]]></category>
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		<category><![CDATA[ROI]]></category>
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		<category><![CDATA[Top performers]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=13471</guid>
		<description><![CDATA[What really separates the best salespeople from the rest of the pack? Recent research shows that they do the following nine things &#8212; from the customer&#8217;s point of view &#8212; extremely well. Listen. Buyers want to deal with professionals who ask the right questions and truly listen to the answers. They want to work with [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.businessbrief.com/the-9-qualities-all-top-performers-shar/"><img class="alignnone size-full wp-image-808" title="cooperation" src="http://www.businessbrief.com/wp-content/uploads/2009/06/cooperation.jpg" alt="cooperation" width="360" height="239" /></a></p>
<p>What <em>really</em> separates the best salespeople from the rest of the pack? Recent research shows that they do the following nine things &#8212; from the customer&#8217;s point of view &#8212; extremely well. <span id="more-13471"></span></p>
<ol>
<li> <strong>Listen.</strong> Buyers want to      deal with professionals who ask the right questions and truly listen to      the answers. They want to work with people who can take what they&#8217;ve heard      and translate it into appropriate solutions. Want to boost your listening      skills to top-performer level? Take notes, summarize and restate what      buyers tell you. And &#8212; this is just as important &#8212; listen when they confirm whether      you&#8217;ve gotten it right.</li>
<li><strong>Tell the truth.</strong> Ken Thoreson, president of Acumen Management Group, Ltd., a sales leadership training organization, says he      cringes whenever he hears salespeople tell clients or prospects, &#8220;Let me be      honest with you,&#8221; as if they haven&#8217;t been honest so far. If you don&#8217;t      know the answer, don&#8217;t make it up.</li>
<li><strong>Do more than push      services. </strong>Of course, it&#8217;s vitally important for salespeople to know      about the products/services they represent, but talking only about features and      functions went out in the &#8217;70s. Top performers today focus on helping buyers      achieve their business goals.</li>
<li><strong>Know the client&#8217;s      business.</strong> Stay abreast of developments in their industries.  When prospects see that you&#8217;re familiar      with their businesses and industries, they begin to trust you and have      confidence in you &#8212; key ingredients in any successful sales formula.</li>
<li><strong>Address pain points. </strong>Top      performers outdo the competition by personalizing their presentations,      showing how their solutions help clients resolve specific business      problems, achieve important goals and generate impressive ROI.</li>
<li><strong>Keep promises. </strong>Buyers      keep track of what you say you&#8217;ll do and whether you actually do it. If      you offer to send a white paper or a list of references, be sure to follow      through. And get it there when promised.</li>
<li><strong>Avoid wasting time. </strong>As      a salesperson, you have the right to be persistent and to be respected,      but not to infringe on customers&#8217; time. Dropping in on a client      unannounced because you were &#8220;in the neighborhood&#8221; sends the      wrong message. Instead, schedule your visits,      have a stated objective for each meeting and be sure the time spent      results in value for the client.</li>
<li><strong>Serve as an information      resource. </strong>Top-performing salespeople often provide clients with useful      background materials, typically      from reputable outside sources. Consider passing along to your buyers relevant      information from newspapers,      business journals, industry magazines and newsletters.</li>
<li><strong>Make the buyer a hero. </strong>Top      performers know what personal factors drive each buyer&#8217;s behavior, whether      it&#8217;s ego, the desire for a bonus, the potential for a promotion or some other      factor. Do what&#8217;s necessary to make sure customers view their purchases as personal wins.</li>
</ol>
<p><em><strong>Info:</strong> This info was culled from a recent study conducted by the <a href="http://www.acumenmgmt.com/index.htm" target="_blank">Acumen Management Group, Ltd</a>.</em></p>
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		<title>20-Minute Sales Meeting: Better pre-call planning</title>
		<link>http://www.businessbrief.com/20-minute-sales-meeting-better-pre-call-planning/</link>
		<comments>http://www.businessbrief.com/20-minute-sales-meeting-better-pre-call-planning/#comments</comments>
		<pubDate>Fri, 10 Sep 2010 11:00:21 +0000</pubDate>
		<dc:creator>Ken Dooley</dc:creator>
				<category><![CDATA[communication]]></category>
		<category><![CDATA[In this week's e-newsletter - Sales & Marketing]]></category>
		<category><![CDATA[Latest News & Views - Sales & Marketing]]></category>
		<category><![CDATA[Sales meeting ideas]]></category>
		<category><![CDATA[call planning]]></category>
		<category><![CDATA[credibility]]></category>
		<category><![CDATA[image]]></category>
		<category><![CDATA[qualifying a prospect]]></category>
		<category><![CDATA[relationships]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[results]]></category>

		<guid isPermaLink="false">http://www.businessbrief.com/?p=12983</guid>
		<description><![CDATA[Effective pre-call planning is a critical component for sales success. It doesn’t matter if it’s the first call or the tenth. A salesperson who does no pre-call planning is like a boxer who steps into the ring blindfolded. Planning calls can take time, and some salespeople see it as cumbersome and minimize its importance. But [...]]]></description>
			<content:encoded><![CDATA[<p>Effective pre-call planning is a critical component for sales success. It doesn’t matter if it’s the first call or the tenth. A salesperson who does no pre-call planning is like a boxer who steps into the ring blindfolded. <span id="more-12983"></span></p>
<p>Planning calls can take time, and some salespeople see it as cumbersome and minimize its importance. But the payoff is worth the time investment, since it improves results at every stage of the sales process and sets up stronger long-term customer relationships by:</p>
<ul>
<li>Helping to convey essential info</li>
<li>Ensuring consistent progress is made on goals and objectives</li>
<li>Increasing credibility, and</li>
<li>Cultivating the image of a well-prepared, knowledgeable business partner.</li>
</ul>
<p><strong>Setting clear objectives for the call</strong></p>
<p>Pre-call planning starts with setting a clear objective for the sales call. While each call’s objective depends on where the buyer is in the sales process, salespeople should determine the most common goal(s) for each stage of the process.</p>
<p>This makes it easier to map out the call beforehand and keep it progressing toward the established goals and objectives. It also helps salespeople avoid getting boxed into a buyer’s agenda.</p>
<p>Questions salespeople should consider when setting an agenda:</p>
<ol>
<li>What must I achieve during the call?</li>
<li>How will that advance the sale?</li>
<li>What obstacles should I expect and prepare for?</li>
</ol>
<p>Some examples of specific objectives for a call:</p>
<ul>
<li>Verifying research and qualifying a prospect</li>
<li>Learning more about a company’s key players and decision-making process, and</li>
<li>Determining the full scope of a buyer’s needs and how they align with your product or service.</li>
</ul>
<p><strong>Creating an Effective Agenda</strong></p>
<p>Salespeople need to nail down who will be present for the call so they can tailor it to achieve the desired results. For instance, a one-to-one meeting with an IT manager would require a  different strategy than if a CFO or VP were also there.</p>
<p>Knowing who’ll be present for the call allows salespeople to “customize” or reset their objectives for the call in advance, rather than trying to shift gears on the spot.</p>
<p>With specific goals, solid research and a list of attendees, salespeople can set an agenda for the call.</p>
<p>Putting that agenda on paper offers salespeople even more benefits, because then they can:</p>
<ul>
<li>Memorize, rehearse and retain the call strategy more efficiently</li>
<li>Review the agenda with the sales manager (or even other salespeople familiar with the prospect) and get feedback that might further sharpen the call, and</li>
<li>Use the agenda after the call to review what did &#8212; and didn’t &#8212; get accomplished, which will help improve future calls.</li>
</ul>
<p><strong><em>Training tip:</em></strong> Ask your sales reps who among them sets a pre-call agenda, and how has that helped them during sales calls? Do they write out the agenda beforehand?  What advice would they share with their peers?</p>
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