Here’s a customer-contractor situation that, although it doesn’t happen too frequently, is extremely dicey when it does.
Your customer wants a non-contract service from you, but the project isn’t in their budget.
To pay for your project they need an amount from you so they can find a place to allocate that unplanned spend. (more…)
Add comment February 1st, 2010
Frequent buyers are your existing customers, those already under a base contract for an on-going service.
Base contracts provide revenue, non-contract services (aka project work, TAGs, etc.) provide profits.
Customers under contract are as close to a captive audience as contractors will ever get. You have a relationship, you’re already in their A/P system, and you have credibility (hopefully). Why not sell more of the profitable work? (more…)
Add comment January 25th, 2010
The old game for selling throws lots against the wall and something sticks – numbers comparing thrown to stuck.
And it’s still true, something sticks, eventually. Even one becomes the justification to continue the old game.
It’s the cost/benefit ratio that’s changed. The benefit keeps getting smaller relative to the cost. (more…)
Add comment January 15th, 2010
Service contractors can should learn a great deal from web marketers.
Web marketers are data diligent and process aware.
They’re focused on “conversions” – points in their online process that are measurable, lead to a tangible next step, and eventual sale. (more…)
Add comment January 7th, 2010
I’d like to thank you for making 2009 a successful and productive year for Revenue IQ. As the weekly blog for facility service contractors, it’s the only sales posting (I know of) that’s not for beginners. You, dear reader, are interested in post graduate education in sales and marketing.
And with those flattering words, here are the best posts of this year. These are the “best” because: (more…)
Add comment December 22nd, 2009
Last week’s post, The Greatest Sales Question, drew numerous reader responses. A number of them were around a common sales issue facing service contractors.
Why aren’t customers more (open / responsive / interested / curious / concerned) about how to improve their service?
To simplify this would be to say:
Why won’t customers talk with me about how I can help them? -or- Why won’t customers let me sell them? (more…)
Add comment December 11th, 2009
What’s important to you?
Or put another way, what is your single most pressing challenge today?
That pressing challenge is the one keeping you from getting or enjoying what’s important to you.
So, that’s it. That’s the question – what is your single most pressing challenge today?
As a reader of Revenue-IQ you are… (more…)
1 comment December 3rd, 2009
They’re different; marketing and selling.
However, they seem to get mixed up in the minds of many who’s job it is to bring in new business.
You can see it in proposal responses that are trying to “educate” decision makers. Those are the elaborately long answers to RFP questions that go off into the ether and entirely miss the need to sell at that moment.
And you can see it in marketing that presents only features and benefits…in every message. Messaging without a compelling customer experience. It’s as if you sit down in a restaurant and the first thing you’re given is the bill, before ordering, even before eating the meal.
Here’s a quick, non-academic separation of church and state (marketing and selling): (more…)
Add comment November 25th, 2009
Staying the same never is. We exist in a constant state of decision making. Not making a decision, is making a decision. Not taking action is making a decision.
Healthcare reform is a good example. Not making a decision in 2009 will cost.
In 2008 the U.S. is expected to have spent $2.4 trillion on healthcare, that’s 16.6% of GDP (Gross Domestic Product).
By not making a decision for reform (i.e., the system works now and doesn’t need fixing) healthcare costs are expected to reach $4.4 trillion annually, or $20.3% of U.S. GDP by 2018.
That’s a Lost Opportunity Cost (LOC) of $2,000,000,000,000 over 10 years.
In the service contract world, as in healthcare reform, there are no guarantees the selected solution will avoid all of those costs.
It is certain there is a cost for keeping the status quo. (more…)
Add comment November 19th, 2009
Customers have no choice, they must buy. It just might not be you.
Obvious? Overly simplistic? Sure it is, but…
I was talking with someone who’s about to begin an outside sales career after years of inside sales. Our conversation reminded me when I began selling, and I was a little intimated and embarrassed calling on customers.
At that time I didn’t know customers have no choice, they must buy. There are certain understandings fundamental to selling, and business in general. This is one of them.
Skip over this one, or miss it entirely, and your selling will be out of step with customers, apologetic, and a burden to yourself. (more…)
Add comment November 12th, 2009
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