As I wrap up the year, thanks for your support, thanks for your contributions, comments and feedback and stay safe tonight.
In 2011, Collective Wisdom will continue with at least 3 updates daily, 7 days a week including holidays. I am also launching another blog focusing on Social Media. More details next week.
Click and read:
Friday, December 31, 2010
As I wrap up the year, thanks for your support, thanks for your contributions, comments and feedback and stay safe tonight.
from Villing & Company:
Fix Your Broken Windows
The broken windows theory states that monitoring and maintaining urban environments in a well-ordered condition may prevent further vandalism as well as an escalation into more serious crime. In his book Tipping Point, Malcolm Gladwell writes,
“Broken Windows was the brainchild of the criminologists James Q. Wilson and George Kelling. Wilson and Kelling argued that crime is the inevitable result of disorder. If a window is broken and left unrepaired, people walking by will conclude that no one cares and no one is in charge. Soon, more windows will be broken, and the sense of anarchy will spread from the building to the street on which it faces, sending a signal that anything goes.”
Broken windows in business occur when someone doesn’t care enough to pay attention to the details. And why would anyone do business with a company that doesn’t care?
Do you have broken windows? Whether it is wallpaper that is starting to peel, a stained ceiling tile, or a receptionist who doesn’t make a customer feel welcomed, fix your broken windows. Your brand encompasses every customer touch point. If you want to create a consistent brand image in the minds of your customers, make sure every experience is as they would expect. Your customers notice more than you think.
If you would like to receive your own personal "subscription" to Villing & Company's News & Views, click here to get free updates by e-mail or RSS. If you prefer to get updates on Facebook, visit the Villing Facebook Page and click the "Like" button next to our name.Sphere: Related Content
from my email:
Dated: 13 December,2010
It is not what the product costs, it is what it saves and earns for the buyer. Remember this when you speak with your customers.
Cost is simply one element of the transaction. If a client can be convinced of the added value of a product – how much it can save them further down the line or what it may earn them in future – then the issue of cost fades into the background. As a salesperson you need to demonstrate to your clients how they will benefit from buying your product. Do not focus on the cost. Rather focus on what they will receive by investing in the product and how they can gain an advantage from it. Put the spotlight on the benefits and the issues of cost are far outweighed.
Click here to read this post at The Science and Art of Selling by Alen Majer.
602-100 Strachan Ave, Toronto, ON, M6K 3M6 Sphere: Related Content
Thursday, December 30, 2010
30 hours left to 2010. Spend them wisely.
Click and read:
Three Ways to Influence Your Influencers
"In simplest terms, businesses are no longer in complete control of their products, brands and messages," writes Susan Gunelius at Entrepreneur.com. "End-users are now in control." And those end-users are largely influenced by so-called prosumers—brand and product advocates who use blogs, social networks and forums to shape opinions.
"To stay competitive in this ever-changing environment," she says, "businesses must learn how to harness these forces to their advantage." And once you've identified your key influencers, Gunelius recommends that you take the following steps:
1. Join the online conversation. Find out where your advocates congregate and open a dialogue. "It takes time and persistence to get on the radar screens of prosumers," she notes, "so be sure to consistently participate and offer information and insights that add value to the conversation."
2. Develop relationships. You want to appear human and accessible to any customer you encounter online, but step it up for your prosumers. Send them products and ask for their opinions. Leave comments on blog posts. Send @ replies on Twitter. "Like" a status update on Facebook.
3. Avoid self-promotion or direct marketing. "If they have a relationship with you that is already built on trust and respect, and you don't try to sell to them, but rather offer products, information and insight for their consumption," she says, "they're more likely to value what you give to them and share it with their own audiences, particularly if they believe your product or business can benefit their audiences."
The Po!nt: Prosumers will talk about your product or service one way or the other—so give them the tools and incentives to deliver the message you want them to send.
Source: Entrepreneur.com.Sphere: Related Content
Are you following the same formula as everyone else?
This week I signed up a new advertising partnership on one of the radio stations I work with.
He is also going to use some other media including at least one other radio station. Each form of paid media is creating their own advertisements.
I had two challenges. First of all, was to distinguish myself in a meaningful way that he would want to spend money with us.
But the second challenge is just as important, and that is to distinguish his business from his competitors.
I have a plan in place and we start January 1st.
For more on this subject, check this out from Drew:
Posted: 11 Nov 2010 01:46 PM PST
You study the demographics and know who your target market is. You are an expert in your industry. Your product/service is exceptional. Your marketing materials are professionally produced and tested well with the focus groups.
You got all of the big things right.
And you still may have it wrong.
So often, it's not about the big things. It's about the details. The tiny little thing that becomes the deal breaker or the deal maker.
Let me give you an example. My daughter is a high school senior and due to a lot of hard work on her part, a very successful student. As a result, she's being aggressively pursued by many colleges.
The mailbox is bulging every day with stunning four color brochures. She is receiving letters inviting her to bypass the regular application process and guarantees of academic scholarships of significance.
No argument -- all of these things are the right things. But she isn't noticing.
What's she's noticing is that one school seems to hold her in even higher esteem. Because they send handwritten notes. They take the time to attach a personal message on the drama page of their brochure because she's a drama kid. They send postcards telling her what's happening on campus that she might enjoy.
We toss around words like authentic and transparent. But you know what -- it's a lot easier to talk about than it is to actually do. It takes a lot of time to get the little things right. And you have to be able to sustain it.
So here's the question -- what little thing could you do that they would notice? And do you want their business badly enough to commit to doing it?Sphere: Related Content
from my email:
Daily Sales Tip: Overcoming 'Sales Inertia'
For top closers, the biggest obstacle is often the fact that a prospect has been doing business with one supplier for so long, they don't see any compelling need to change.
Instead of accepting the fact that prospects with entrenched suppliers are not worth the effort, the best closers do research and ask questions up front to uncover areas where the existing supplier is coming up short.
They may also focus on benefits they offer that the existing supplier cannot, and use those as a way of making the prospect at least consider a change.
Source: From Sales Presentation Techniques (That Really Work), by Stephan Schiffman
Wednesday, December 29, 2010
Click & read:
I'm not a big Facebook fan.
But I'm on it, because of it's popularity.
And there is a pretty cool feature that I use to stay in touch with my Facebook Friends, the birthday reminders. I send greetings nearly everyday. It's one of those touch points that helps us to develop and continue building relationships.
Next month, I will be doing a session on Personal Branding at a local University and that will include telling my own story which is due to various forms of Social Media I use.
Today, I have a report from MediaAudit.com on what's going on now and the year ahead:
A Perfect Storm: Social Media Reaches Important Life Stages
The Media Audit FYI
A preliminary analysis of The Media Audit's soon-to-be released 2010 National Report reveals for the first time how social media websites such as Facebook, Twitter, and MySpace have reached critical mass with consumers who are in important life stages. The study, conducted among more than 65,000 consumers across the U.S., reveals that consumers, especially those who are younger and single, or who have young children living at home are visiting Facebook, Twitter, and MySpace at a higher rate when compared to the general population.
The significance of these findings lies in the fact that consumers who are single tend to have a higher disposable income while those who are married with young children are entering the "age of acquisition" in which they are consuming large ticket items such as automobiles, furniture and real estate for the first time. As a result, these audiences represent significant buying power and validate the lure that more and more advertisers are beginning to have with these social sites.
According to the national study, 51.3% of U.S. adults surveyed across The Media Audit's 80 measured markets have visited Facebook, Twitter, or MySpace in the last month. The figure represents more than 71 million adults who are 18 or over. However, among adults who are single, under 35 years old, and with no children, 80.6% have visited these sites. As a result, those consumers in this group are 57% more likely than the general population to visit Facebook, MySpace, or Twitter in a typical month.
The same report reveals that adults under the age of 35 years who are single and have no children have extremely active lifestyles and exhibit upscale shopping behavior, likely the result of not having children, and thus higher disposable income. Furthermore, these consumers are less likely to own a home, thus freeing up more income.
According to the study, adults who are single, under 35 years with no children are 60% more likely to visit bars or night clubs, 51% more likely to frequently attend college or professional sports events and 48% more likely to frequently visit a movie theatre. Furthermore, this group is 25% more likely than the general population to shop at upscale Neiman Marcus and 20% more likely to shop at Nordstrom. Not only is this audience attractive to advertisers, but it is also elusive. According to the same study, adults who are under 35, with no children and single are 47% more likely to be heavy internet users, however they are 12% less likely to be heavily exposed to outdoor billboards, 52% less likely to be heavily exposed to a newspaper, and 13% less likely to be heavily exposed to TV.
Among those adults who have children under the age of six years old, 71% visit Facebook, MySpace, or Twitter in a typical month, a figure that is 38% higher when compared to the general population. Furthermore, households with children under the age of six visit these social websites at a higher rate when compared to households with children older than six years old.
The same national study reveals that households with children under the age of six are more likely to be in the market for new cars, real estate, and household accessories such as new furniture, electronics, and appliances. According to the study, consumers with young children under the age of six are 15% more likely than the general population to be in the market for a new vehicle in the next 12 months, while the same group is 37% more likely to be shopping for new video equipment such as a camera, VCR or DVD player. Additionally, households with young children under the age of six are 69% more likely to be planning to buy a home in the next two years and 11% more likely to be planning a home remodeling project.
Data for this report is preliminary and was obtained from surveys conducted between January and October of 2010 among more than 65,000 respondents. The Media Audit's 2010 National Report will be released this spring after all interviews are concluded for its 80 measured markets. The Media Audit local and national reports represent the most comprehensive and up-to-date analysis of today's constantly changing media and consumer trends.
For more information on this report, or to obtain data on a local market, contact The Media Audit.Sphere: Related Content
I see a curious turn of events that I wasn't paying attention to 9 years ago. The age of "getting old" seems to be older than I thought it would be.
A couple of factors shaped my thinking:
1) Family History. I only had one grandparent alive when I was born. My Grandmother who was healthy until the last year of her life when she was diagnosed of the cancer that she died from in her late 60's. Then my own Dad passed away a few months after he turned 67. Three years later, my Mom died at age 68. I was only 42. I thought this was the norm until people told me that my parents died early.
2) Last year when I turned 50, I decided that I still had at least another 25 good productive years ahead and have decided that I'll live into my 80's or longer. I have an Aunt and Uncle in their 90's so it is not impossible.
Take a look at this report from Mediapost:
As in the way kids say it today: "Real-ly, I mean real-ly?"
Boomers turning 65 is a big deal, but just not to Boomers themselves. Here is the real news: Boomers see 65 as just another birthday.
How do we know?
We asked them. Specially, we asked those about to turn age 65 about the big event. In our national survey, only one in four said it was a "big deal." Over half said it was most certainly "not a big deal." Sure, they said, now we'll qualify for Medicare and that will help with medical expenses. But, it simply isn't that big a deal anymore.
You wouldn't know it from two studies released last week, the timing of which was designed to tap into the monumental event. Pew Research Center published "Boomers Approach 65 -- Glumly," and AARP went with "Approaching 65: A Survey of Boomers Turning 65 Years Old." Other than using the same verb, the two reports are on polar ends when it comes to assessing Boomer attitudes.
Pew compares Boomers of all ages to other generations and finds them "more downbeat than other age groups about the trajectory of their own lives and about the direction of the nation as a whole."
Pew does admit that "some of this pessimism is related to life cycle -- for most people, middle age is the most demanding and stressful time of life." But mostly it implies that the funkitude is something innate in the Boomer generation. Yet, the data it reports show Boomers were the most impacted by the Great Recession, are dealing with delaying retirement to fund said retirement, and find themselves forever stuck in middle age, with adults kids at home and aging parents requiring caregiving. It is no wonder Boomers are glum.
AARP's findings are much more optimistic. They sum it up by telling us that this "first wave of the Boomer generation [is] generally satisfied with their lives and optimistic about the next third of life." (We're guessing they weren't surveyed by Pew.)
Who is Right?
In truth, both studies and conclusions about Boomers are right -- which, in itself, is today's lesson. Be careful with research.
Pew's study is perhaps the most interesting for marketers because it compares Boomer attitudes with other generations'. However, as Pew points out, there are life stage and age factors that play a role in attitudes. A Boomer at 56 (the median age of the generation in 2011) has a different worldview and perspective than a 36 year old or a 26 year old, no matter the generational cohort.
AARP focuses only on Boomers, and only those 4% set to reach age 65 in 2011. Those vanguard Boomers are not all Boomers, so their attitudes must be taken for what they are -- their attitudes.
The point is that, with a generation some 76 million large, there are countless variations. You can't sum up generational attitudes in a word or a phrase. There are tens of millions of very happy and satisfied Boomers of all ages, and there are some soon-to-be-65 Boomers who are depressed and, well, glum.
The only thing we can tell you with certainty is that Boomers are not old. Follow the logic: the median age is 56 and, according to Pew, the typical Boomer feels nine years younger (so age 47) and thinks "old age" starts at age 72 -- some 25 years in the future!
Let's do stories on Boomers reaching old age then, in December 2036.
|Boomer Project founder/president Matt Thornhill is an authority on marketing to today's Boomer Consumer. He has appeared on NBC, CBS and CNBC, in "BusinessWeek," "Time," "Newsweek" and "The New York Times" and countless others. Matt is also the co-author of the business book "Boomer Consumer." Boomer Project is a marketing research and consulting firm and has done work for Johnson & Johnson, Lincoln Financial, Samsung, Hershey's Foods and Home Instead Senior Care. Reach him here.|
from my email:
Daily Sales Tip: Skills That Buyers Expect of Salespeople
Howard Stevens came up with 7 skills buyers expect of salespeople in his book, Achieving Sales Excellence:
1. Be personally accountable for our desired results.
2. Understand our business.
3. Be a customer advocate.
4. Be knowledgeable of applications.
5. Be easily accessible.
6. Solve our problems.
7. Be innovative and responsive to our needs.
Source: The Selling Advantage (12/28/10)
Tuesday, December 28, 2010
Click & Read:
From Pat Mcgraw:
Posted: 04 Dec 2010 09:42 AM PST
Recently, I wrote about the importance of creating a unique, valuable experience that can be consistently delivered to the customer in order to improve your customer acquisition and retention efforts.
Today, I am going to tell you that sometimes your customers don’t want to talk to you – they just want to take care of their own needs and move on.
That might explain why Norm occasionally tried to pour himself his own beer. Alright, probably not…but you get my point.
In our research on this topic (which we discuss in our recent HBR article “Stop Trying to Delight Your Customers“), we’ve found that corporate leaders dramatically overestimate the extent to which their customers actually want to talk to them. In fact, on average, companies tend to think their customers value live service more than twice as much as they value self service. But our data show that customers today are statistically indifferent about this — they value self-service just as much as using the phone. And guess what? By and large, this indifference holds regardless of their age, demographic, issue type, or urgency.
When I first read this article, my reaction was ‘Wow!’ But the more I thought about it, the more it made sense. Heck, I would rather take care of my own needs rather than subject myself to some untrained 16-year-old employee at the local retailer.
But as the article explains, it’s more than just an aversion to poor service. I like to take care of myself. It’s about pride. It’s about ego.
So when you start looking at your business, look at it from the customer’s perspective and design processes that allow them to handle their own needs if that’s how they would prefer to do business with you. Offer them the option to self-serve or be helped by your staff – and make sure both experiences are simple, fun and effective.Sphere: Related Content
Labels: customer service
Posted: 27 Dec 2010 08:25 AM PST
I don't want to get all mushy -- but I am so grateful that you keep coming back to the blog to share your ideas and thoughts on the blog posts, I value your friendship and collegial spirit and look forward to exploring 2011 with you.
To that end, I've rounded up some gifts I'd like to share. I think you'll find them both well worth the time to unwrap!
Junta42's annual Content Marketing & Social Media Predictions for 2011: Joe & his team reach out to marketing folk and ask them to contribute their predictions for the year.
With over 100 participants -- there is plenty to read, chew on and use as you plan out 2011 for your organization. (click here to download the PDF)
RainToday's Research Excerpt on Lead Generation: As you know, I am a huge fan of RainToday.com. They provide lots of very pragmatic, B2B focused research, tools and how to advice. They just finished up a new study on best practices for lead generation.
If for no other reason that reading more about Best Practice #3 -- it is worth the download. click here to download the PDF)
I hope you find value in them both!
Photo courtesy of Shutterstock.comSphere: Related Content
from my email:
Daily Sales Tip: Don't Try to 'Wing It'
A well-designed and properly rehearsed phone script is a powerful tool for projecting a confident and competent professional image. In addition, a script guarantees that every call is delivered in a consistent and concise manner.
Sales reps that prefer to "wing it" and shoot from the hip, tend to lose focus and are quickly sidetracked down numerous unproductive paths. It's been said that the only thing worse than listening to a salesperson using a phone script, is to listen to one without a script.
Here are some proven tips to help you create a phone script that will keep your appointment calendar full:
1. Write out your entire phone script from hello to goodbye.
2. State your name and organization at the beginning of the call.
3. Timing is everything. Be considerate by asking your prospect if they have a minute to speak with you. If your call is viewed as an interruption, you're dead in the water before you even begin.
If your prospect indicates that it's not a good time for your call, apologize for the interruption and ask them when it would be OK for you to call back.
4. Use a series of open-ended questions to draw your prospect out. Keep in mind when you design your script that your primary goal is not to sell anything, but rather to build rapport, gather information, and make an appointment.
5. People are more comfortable with salespeople who they feel are similar to them. Use your voice to build trust and rapport quickly by "matching and mirroring" your prospect's voice tone, pitch, and pace.
6. Never interrupt your prospect and allow them plenty of time to respond to your questions.
7. Look for opportunities to make an appointment, don't just answer questions. Avoid the temptation to answer all of your prospect's questions over the phone but instead, guide them toward scheduling a face-to-face meeting.
Source: Sales trainer/business motivational speaker John Boe
Monday, December 27, 2010
This week I am going to post a few things I've been hanging on to for awhile and want to share with you before 2011.
Here's one from Pat McGraw:
Posted: 01 Jun 2010 08:51 AM PDT
Imagine if you were the most efficient manufacturer of seven-fingered gloves. You offer the best selection, the best service, and the best prices for seven-fingered gloves–but if there isn’t a big enough market for what you sell, you won’t get very far.
I love that quote. It comes from Tony Hsieh, CEO of Zappos and is part of a longer and very interesting post on Huffington Post.
Why do I love this quote? Because many will read that quote and wonder “Who the hell would make a 7-fingered glove?” – then they will get up and go to a meeting later in the day in order to discuss why their own company’s version of a seven-fingered glove is not hitting projected sales goals.
The blame will fall on marketing – specifically promotions that fail to deliver the quantity and quality of leads necessary to achieve sales goals. (Very aggressive sales goals that were based on ‘what do we want the company to earn’ rather than ‘what percentage of seven-gloved projected sales are we likely to capture?’)
Now, the blame should fall on “marketing” but only in those organizations that allow marketing to be involved (drive) product, price, place (distribution) and promotion. Because in those organizations, marketing decided that there was strong enough demand for seven-fingered gloves that the organization’s goals could be achieved.
But for too many organizations, marketing is assigned the ‘joyful, rewarding’ (sarcasm) job of trying to attract large numbers of qualified leads for products and services that don’t have large numbers of people that need the products and services.
How does your organization identify opportunities in the market and use that insight to develop the right products and services at the right price? How does your organization use that knowledge to execute a unique distribution strategy that brings your products and services to more qualified buyers?
Because when you do these things correctly, promotion becomes a lot easier and qualified buyers turn to you for their needs because more reasons than just promotion.Sphere: Related Content
from my email:
Daily Sales Tip: Watch What You Say
There are four verbal communication rules to remember in sales:
-- Use descriptive language
-- Use short sentences
-- Avoid buzz words and jargon
-- Avoid tag questions and qualifiers ("I guess," "I hope," "sorta," "probably")
When preparing your sales presentation, keep your points focused, so you don't ramble on in long sentences. Adding tag questions (like "I think this is a good proposal, don't you?") weakens your position, and using words like "umm" and "like" and "you know" detract from what you are saying.
Think about what you really want to say, and then say exactly what you mean.
Source: Communication/sales consultant Marjorie Brody
Sunday, December 26, 2010
The one who isn't easily replaced
The law of the internet is simple: either you do something I can't do myself (or get from someone else), or I pay you less than you'd like.
Why else would it be any other way?
Twenty years ago, self-publishing a record was difficult and expensive. A big label could get you shelf space at Tower easily, you couldn't. A big label could pay for a recording session with available capital, but it was difficult for you to find the money or take the risk. A big label could reach the dozens of music reviewers, and do it with credibility. Hard for you to do that yourself.
Now when someone comes to a successful musician and says, "we'll take 90% and you do all the work," they're opening the door to an uncomfortable conversation. The label has no assets, just desire. That's great, but that's exactly what the musician has, and giving up so much pie (and control over his destiny) hardly seems like a fair trade.
Multiply this by a thousand industries and a billion freelancers and you come to one inescapable conclusion: be better, be different or be cheaper. And the last is no fun.
Labels: Seth Godin
Posted: 23 Dec 2010 05:55 AM PST
As you may know, I am a Disneyophile. I love the Disney parks, I love the Disney movies' happy endings, I love the unrelenting pursuit of better customer service that drives Disney to their own level of excellence.
I also love Walt Disney's story.
I know he wasn't perfect by a long shot. But he was a dreamer, a story teller and a man who believed so strongly in his own vision that he ignited the people around him until they were as caught up in the dream as he was. And despite being told no about a million times -- he just keep at it until his dream came to be.
But if you've studied his life like I have, you discover that his philosophies are incredibly simple. And in that simplicity, incredibly profound.
When asked how to build a successful business, he replied:
"Do what you do so well that they will want to see it again and bring their friends."
Pretty much sums up referral selling, word of mouth marketing, and customer retention all in one sentence. And in the end -- isn't Walt talking about creating a love affair with your customers?
Do you think we make it too complicated? Do you think Walt was right? Is that really all there is to it?
Sphere: Related Content
When I read this report from Mediapost a few days ago, it made me a little preturbed. I am 51. I am supposed to love my TV according to the fact that I am a BabyBoomer.
I was thinking the other day that if I had to give up Television of the Internet, I could easily say good bye to the Boob Tube.
But then again I've never been completely identifiable by the generalizations of generations.
So, as you read this piece about Generation Y, remember that these are not absolutes. Not all 20 year olds are on Facebook, not all Boomers are wearing Depends....
There has already been an enormous amount of reporting and analysis on Zuckerberg's latest accolade, so I won't belabor the various and often conflicting story angles. What's mind blowing is seeing the creator of Facebook -- a member of Gen Y who has completely upended the ad industry -- on the cover of Time. And the findings in the L2 study, though not as earth shattering so much as confirming what most of us already know, contain some surprising stats worth factoring in when planning your 2011 marketing strategy and budget allocation.
The link between these two stories? Facebook, of course.
The Gen Y study focuses on media consumption and, in most of the research, ties this consumption back to Facebook. Eighty-one percent of the affluent Gen Y audience uses Facebook multiple times a day. What is even more enticing about this generation and their Facebook usage is their affinity towards brands and eagerness to "like" them.
Over three-quarters of the respondents "like" a brand and one-quarter of them have developed a "brand crush" through Facebook. Who wouldn't want their target audience to have a crush on their brand, and could you ask for anything more from your marketing dollars? The lesson here is to get your brand "liked" on Facebook and spend your money and your time doing it. But how?
That is where some of the additional statistics found in this research become very compelling, specifically regarding the consumption of the various media. Second to social or Facebook usage is Gen Y's devotion to reading blogs.
"If baby boomers are the TV generation, then Gen Y is the blog generation," the study reported. What's beautiful about blogs is they too are designed to be social in that they typically encourage comments or interaction. What this means for you is that as you are allocating your 2011 marketing dollars in an effort to boost your "likes" on Facebook, blogs should be at the top of the list. We find the most successful campaigns that run on our site encourage some type of social interaction or engagement.
This aligns with all that we know about Gen Y and is reinforced in this research -- Gen Y likes to share their opinion and showcase themselves and their views. The blog world is not about the authoritative voice of traditional media but more of an inclusive platform that prompts discussions and allows people to give their opinion. Use blogs to start the conversation and ensure that there is a mechanism for them to "like" your brand.
Something else that emerged in this research worth noting is the massive growth of video and mobile. For us in the marketing world, this isn't news. However, what struck me as interesting is the combination of the two: of those who responded, one in eight reported watching a video on a mobile device in the past 24 hours -- an impressive number that I imagine will only grow in 2011.
The message: dedicate money toward emerging platforms such as video and mobile. Take time to understand the consumption of these products and partner with publishers who can develop unique solutions combining these assets. Then, of course, make sure you can "like" your brand via mobile device or video.
Twenty ten was an eye-opening year for all of us in the marketing world. As social media rose, we gained knowledge and understanding of the space -- and learned how to work both within it and outside of it. But of all that stood out, perhaps what was most meaningful was the naming of Mark Zuckerberg as the Person of the Year and renewed understanding that "like" on Facebook now holds more weight than any click-through.
|Kristine Shine is VP of PopSugar Media (www.popsugar.com), a division of Sugar, Inc., which provides content and social media for Gen Y women. She is responsible for helping marketers forge a trusting relationship with Y Women through PopSugar's sites. Follow her on Twitter.|
Reviewing some basics:
Daily Sales Tip: Making a Sales Presentation
Your goal with a sales presentation is to gain commitment to either buy your product or service, or to advance the sale towards closure, whichever is appropriate for the type of selling you do.
To do so, you need to know what problem the client is trying to solve, or goal they're trying to achieve. Determine this in advance by asking questions, then craft your presentation so that it highlights and focuses on the features that will provide the benefits that align with the prospect's needs or goals.
Mix in questions so that the presentation is a dialogue, not a monologue. And conclude with one that allows you to take the prospect's temperature.
Practice these simple steps and you'll see fewer eyes glossing over during your presentations and more presentations leading to closed business.
Source: Sales consultant/manager Craig James, founder of Sales Solutions
Saturday, December 25, 2010
Merry Christmas Y'all!
Last month I was contemplating what to post on Christmas day, when this appeared in my inbox from Mediapost.
I dare you to add up the cost of all the loot you got this year and see if it adds up to $75 more than you got in 2009.
Because Christmas for us adults isn't really about stuff. It's about a gift from God that we can never return or exchange.
But on with the email:
According to a Gallup poll conducted in November, in which respondents were asked to predict the total amount they will spend on Christmas gifts this year, they will spend $714 -- well exceeding the $638 they forecast in November a year ago for the 2009 holiday season, but still trailing the forecasts recorded over most of the last decade.
Christmas Spending Forecasts (November of Each Year)
Personal Spending Expectation
Source: Gallup, November 2010
According to Gallup, if the figure holds at this level through December, that would point to a roughly 2% year-over-year increase in holiday sales. Further, if consumers' spending estimate increases between November and December, as it typically does, actual retail sales could improve by closer to 4%, similar to the long-term average.
Although 52% of Americans say they will spend the same on gifts this year as in 2009, 34%, of Americans, say they will spend less, compared with 12% saying they will spend more. That 22-percentage-point gap is nearly double the average 13-point difference between these figures over the past 20 years, providing a note of caution to Americans' dollar spending forecast.
The current gap contrasts with a 39-point gap found in November 2008, amid the turmoil of the global economic collapse. However, in periods of relative economic prosperity, such as from 1995 through 2000, the figures were about even.
More or Less than Amount Spent Last Christmas (% of Respondents)
About the Same
Source: Gallup, November 2010
The report concludes by noting that consumers seem on track to increase their Christmas spending this year compared with 2009. The precise percentage increase is unclear, and will likely be reflected in what Americans say about their gift-buying intentions in December. Historically, consumers' estimates of their Christmas spending increase between November and December, and the amount of that increase will indicate whether retailers can expect modest growth or something closer to the average 4% increases enjoyed in the years prior to the latest economic downturn.
And, with additional money to spend, new research from Unicast shows that consumers are looking to online sources for savings. 53% of people surveyed said that they planned to surf the web to research deals, with 42% of respondents planning to get ahead of the gift-giving-game by researching Black Friday and Cyber Monday sales online.
Key findings from Unicast include the fact that:
- 53% of shoppers plan to use the internet to compare deals between stores or retailers' websites this holiday season
- 37% of consumers will shop on Free Shipping Day, this December 17th, in order to avoid shipping fees
- Most of this year's online holiday shopping will occur during the first two weeks in December (December 1-15)
- Most popular online purchases include entertainment items like music, movies, and video games
- 54% of consumers said that they are most likely to interact with ads that include sales offers, discounts, or special promotion codes
14% of consumers will get a head start on their holiday shopping, checking most of the items off their lists by Thanksgiving Day. Another 7% expect to be last-minute shoppers, cramming most of their purchases into the last week before Christmas.
- 21% of those aged 18-24 planned to buy most of their presents on Black Friday while the plurality of 25-34 year olds will make their purchases on Cyber Monday.
- Consumers with an annual household income of $50K-$74K were especially likely to partake in Cyber Monday (14% vs. 8%, <$25K; 11%, $25K-$49K; 6%, $75K-$99K; 10%, $100K+).
- Those with children in the household were significantly more inclined than those without kids to buy gifts on Black Friday (15% vs. 11% and 20% vs. 10%, respectively)
- Married adults were significantly more apt than their unwed counterparts to buy gifts on Black Friday (15% vs. 11%, respectively) or within the first two weeks of December (25% vs. 19%, respectively)
- Twenty-nine percent of Northeasterners reported a plan to get their online shopping done between December 1st and 15th compared to 22% overall. Westerners were especially likely to buy their gifts before Thanksgiving Day (13%), while Southerners were more apt than the average respondent to partake in Black Friday (16%)
Additionally, the study finds the types of offerings which would most encourage the consumer to purchase from a particular online retailer:
- 63% say free shipping
- 21% Coupons for a percentage off one item selected by the shopper
- 20% Gift card with purchase for future use
- 17% Sale items determined by the retailer
- 15% A large variety or products
- 13% Free returns
- 9% Brand name items
- 6% Special discounts for retail club
Gallup poll results are based on telephone interviews conducted Nov 4-7, 2010, with a random sample of 1,025 adults, aged 18 and older, living in the continental U.S., providing an expected 95% confidence that the maximum margin of sampling error is ±4 percentage points.
For more findings from Unicast, including additional charts and graphs, please go here for the full report.Sphere: Related Content