Jewell Insights

Sales Productivity

 
 
As a business owner and sales professional, having the ability to analyze metrics and performance statistics is vital to my success. Early in my career when I was working primarily in sales, I would log and analyze all aspects of my performance to figure out exactly what did and did not work. This allowed me to hone my sales strategy, improve my productivity, and increase my closing ratio.
I think it’s safe to say that most of you probably have some system in place for measuring your sales productivity, but there are many different ways to analyze performance…and guess what?  Some ways work a lot better than others. The Business 2 Community blog published an article this week called “How Should You Measure Sales Productivity.” The author of this piece interviewed eight top-performing sales professionals to find out which metrics they think are most valuable for measuring sales performance and productivity. Give it a read and see if any of these strategies might provide you with valuable new insight into your performance.

By Beth Gucciardi | | Read more

Now or Never

 
 
Does your To-Do list have hundreds of items on it? Do you often find yourself putting off tasks for later? If so, you may want to consider reexamining the way in which you manage tasks. While the To-Do list is a great tool, it also has the potential to become a procrastination enabler.
Tasks that are not high on the list of priorities but that you don’t want to forget about altogether are perfect candidates for the To-Do list. Other tasks that are high-priority or that are time-sensitive should either be dealt with immediately or added to a “high-priority” list with a due date. LifeHackerpublished a great list this week of “10 Tasks You Should Never Put on the Back Burner.” If you find yourself forgetting tasks, missing opportunities, failing to follow-up when you said you would, or missing important deadlines, I highly recommend reading this short article and considering how you might modify your habits to improve your success:
By Beth Gucciardi | | Read more

Highlight Your Experience

 
One of the best ways to capture a prospect’s attention is to highlight your experience working in similar situations. While it’s not necessarily a good idea to “toot your own horn” (particularly when you’re first introducing yourself), emphasizing specific experience working on similar projects can instill a sense of trust and confidence in your ability to accomplish what you are proposing.
So how exactly does one build confidence?  Well for starters, be sure to ask questions that reflect segment-specific knowledge.  Provide a few insights during the initial meeting that imply that “there’s a lot more where that came from once you engage our services.”  Drop names of other clients for whom you’ve delivered successful results.  These and similar strategies underscore that “this is not your first rodeo,” and that your plan is not to compensate for your lack of prior experience by “figuring things out on your client’s nickel.” 
You’ll find it a lot easier to close the sale once your prospect realizes that you’re simply proposing to build upon the success you’ve delivered for other clients in similar situations.  At that point, the prospect will relax and the need for additional due diligence will likely evaporate.  
 
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By Beth Gucciardi | | Read more

The Right Metrics


One of the major topics I teach at our financial analysis workshops and at every Efficiency Sales Professional Boot Camp is how to use proper financial metrics. The difference between the simple metrics that most efficiency salespeople use and the proper metrics that efficiency sales professionals use can often mean the difference between a “no” and a “yes.”  

Unfortunately, your prospects may be very attached to popular, substandard metrics like simple payback period, return on investment, and internal rate of return. In some cases, they may even be resistant to proper metrics like net present value, modified internal rate of return, or savings-to-investment ratio because they don’t understand the calculations and would rather use what they already know.

When a prospect is using substandard metrics to drive capital budgeting decision-making – especially with expense-reducing capital projects – it's your job to be the adult in the relationship and to share with that person in a very “tough love” way that those metrics are not going to serve them best.

Unless you know for a fact that your prospect is already using the right metrics to evaluate projects, it’s a good idea to include both “popular” and “proper” metrics on your financial summary spreadsheet. This will allow you to compare the metrics they are used to seeing with the ones you recommend they start using, and through that comparison, demonstrate why they should be using more advanced metrics to evaluate the project.

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By noreply@blogger.com (Mark Jewell | www.SellingEnergy.com) | | Read more

The Right Metrics


One of the major topics I teach at our financial analysis workshops and at every Efficiency Sales Professional Boot Camp is how to use proper financial metrics. The difference between the simple metrics that most efficiency salespeople use and the proper metrics that efficiency sales professionals use can often mean the difference between a “no” and a “yes.”  

Unfortunately, your prospects may be very attached to popular, substandard metrics like simple payback period, return on investment, and internal rate of return. In some cases, they may even be resistant to proper metrics like net present value, modified internal rate of return, or savings-to-investment ratio because they don’t understand the calculations and would rather use what they already know.

When a prospect is using substandard metrics to drive capital budgeting decision-making – especially with expense-reducing capital projects – it's your job to be the adult in the relationship and to share with that person in a very “tough love” way that those metrics are not going to serve them best.

Unless you know for a fact that your prospect is already using the right metrics to evaluate projects, it’s a good idea to include both “popular” and “proper” metrics on your financial summary spreadsheet. This will allow you to compare the metrics they are used to seeing with the ones you recommend they start using, and through that comparison, demonstrate why they should be using more advanced metrics to evaluate the project.

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By noreply@blogger.com (Mark Jewell | www.SellingEnergy.com) | | Read more

Product and Service Bundles


When it comes to leveraging up-selling, one great strategy is to use product and service bundles. Think about the last time you were at the car wash. You probably went there to get a normal hand wash, but you may have ended up purchasing a more comprehensive package than planned. Car wash businesses are great at up-selling because they make it very easy to choose from a small range of service bundles at scaled prices. These bundles are clearly laid out and easy to pick from:
Basic: Hand wash and dry - $15
Silver: Basic PLUS interior vacuuming and tire dressing - $20
Gold: Silver PLUS wax, polish, and air freshener - $25
Platinum: Gold PLUS undercarriage wash - $30
There are several benefits to offering bundles:
  1. There’s something for everybody.
  2. If the most expensive option is out of the person’s price range, they’re more likely to choose one of the middle options than the cheapest one (because they get a glimpse of the added benefits of the less basic bundles).
  3. If price is not a barrier, they’ll assume the highest priced bundle has the best features and buy that bundle without considering the cheaper options.

In addition to bundling, it’s also wise to create tracks for your products and services. Suppose you’re selling a control system to a prospect that doesn’t have the budget for your “platinum” control package. You could say to your prospect, “Let's put the framework in to do this control system. When you’re happy with it, we can add control points as you have more money in the budget to control more systems. This infrastructure can provide sort of a wireless mesh over your building so that you’ll be able to get any of these devices talking to the wireless mesh. Let's put the network in first. Then you can add on as you come up with spare dollars in the operating budget.”
What have we just done in the hypothetical situation? We’ve sold the prospect a basic package with a built-in track for up-selling. Once the framework is in place, the prospect can purchase middle or high-end packages without having to start from scratch.
If you don’t already bundle your products or services, consider adding this tried-and-true up-selling strategy to your business model. 
 
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By Beth Gucciardi | | Read more

Product and Service Bundles


When it comes to leveraging up-selling, one great strategy is to use product and service bundles. Think about the last time you were at the car wash. You probably went there to get a normal hand wash, but you may have ended up purchasing a more comprehensive package than planned. Car wash businesses are great at up-selling because they make it very easy to choose from a small range of service bundles at scaled prices. These bundles are clearly laid out and easy to pick from:
Basic: Hand wash and dry - $15
Silver: Basic PLUS interior vacuuming and tire dressing - $20
Gold: Silver PLUS wax, polish, and air freshener - $25
Platinum: Gold PLUS undercarriage wash - $30
There are several benefits to offering bundles:
  1. There’s something for everybody.
  2. If the most expensive option is out of the person’s price range, they’re more likely to choose one of the middle options than the cheapest one (because they get a glimpse of the added benefits of the less basic bundles).
  3. If price is not a barrier, they’ll assume the highest priced bundle has the best features and buy that bundle without considering the cheaper options.

In addition to bundling, it’s also wise to create tracks for your products and services. Suppose you’re selling a control system to a prospect that doesn’t have the budget for your “platinum” control package. You could say to your prospect, “Let's put the framework in to do this control system. When you’re happy with it, we can add control points as you have more money in the budget to control more systems. This infrastructure can provide sort of a wireless mesh over your building so that you’ll be able to get any of these devices talking to the wireless mesh. Let's put the network in first. Then you can add on as you come up with spare dollars in the operating budget.”
What have we just done in the hypothetical situation? We’ve sold the prospect a basic package with a built-in track for up-selling. Once the framework is in place, the prospect can purchase middle or high-end packages without having to start from scratch.
If you don’t already bundle your products or services, consider adding this tried-and-true up-selling strategy to your business model. 
 
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By Beth Gucciardi | | Read more

I've Been Cloned!

 
This week marks the 21st anniversary of my decision to create value in the efficiency industry.  Since then, I’ve been privileged to influence the energy-efficiency decision-making of three billion square feet of North American real estate – the equivalent of a thousand Empire State Buildings.

Several years ago I realized that I would have a much greater impact moving efficiency forward if I were to share both the success strategies and the “scar tissue” I’d developed over those two decades.  The Efficiency Sales Professional Institute was born.  Thousands of professionals have already benefited from our in-person programs.  Literally hundreds of those folks have asked me if had considered cloning myself…or at least putting videos of my trainings online.

While I’m still debating if I ever want to be mentioned in the same sentence as “Dolly the Sheep,” I’m excited to announce the debut of SellingEnergy.com, an online learning platform where you’ll find on-demand versions of our most popular courses that you can access wherever…whenever.

Visit SellingEnergy.com today and take advantage of the pre-order sale that is happening until May 1, 2014 when the first round of courses will officially be available.

Topics include:
 
  • Learning to S.E.E. (Sell Efficiency Effectively)™  
  • Financial Analysis of Energy Efficiency Projects (Fundamentals, Intermediate, and Advanced)
  • Benchmarking Using ENERGY STAR® Portfolio Manager® (including the new comprehensive “The Ultimate Guide to ENERGY STAR Portfolio Manager")
  • And more!
View a sample of the Learning to S.E.E. (Sell Efficiency Effectively) course HERE

As a special gift we are offering FREE Ninja Gear!

For a limited time, you can get the Inspirational Quote Wall Poster, Little Black Book, a Quote Cards Gift Pack, and/or “make you memorable” lanyards at no-cost and we will even cover shipping!  Feel free to share the link with your friends and colleagues so they can get theirs too.

We also just launched a new eefg.com website and will soon be launching benchmarkinghelp.comwhere you will find our utility-sponsored ENERGY STAR® Benchmarking initiatives. 

If you have any questions or need group licenses for your staff, distributors, or customers, send us an email at info@eefg.com.


Want our daily content delivered to your inbox? Sign up for the Jewell Insights mailing list!
By Beth Gucciardi | | Read more

I've Been Cloned!


This week marks the 21st anniversary of my decision to create value in the efficiency industry.  Since then, I’ve been privileged to influence the energy-efficiency decision-making of three billion square feet of North American real estate – the equivalent of a thousand Empire State Buildings.

Several years ago I realized that I would have a much greater impact moving efficiency forward if I were to share both the success strategies and the “scar tissue” I’d developed over those two decades.  The Efficiency Sales Professional Institute was born.  Thousands of professionals have already benefited from our in-person programs.  Literally hundreds of those folks have asked me if had considered cloning myself…or at least putting videos of my trainings online.

While I’m still debating if I ever want to be mentioned in the same sentence as “Dolly the Sheep,” I’m excited to announce the debut of SellingEnergy.com, an online learning platform where you’ll find on-demand versions of our most popular courses that you can access wherever…whenever.

Visit SellingEnergy.com today and take advantage of the pre-order sale that is happening until May 1, 2014 when the first round of courses will officially be available.

Topics include:
 
  • Learning to S.E.E. (Sell Efficiency Effectively)™  
  • Financial Analysis of Energy Efficiency Projects (Fundamentals, Intermediate, and Advanced)
  • Benchmarking Using ENERGY STAR® Portfolio Manager® (including the new comprehensive “The Ultimate Guide to ENERGY STAR Portfolio Manager")
  • And more!
View a sample of the Learning to S.E.E. (Sell Efficiency Effectively) course HERE

As a special gift we are offering FREE Ninja Gear!

For a limited time, you can get the Inspirational Quote Wall Poster, Little Black Book, a Quote Cards Gift Pack, and/or “make you memorable” lanyards at no-cost and we will even cover shipping!  Feel free to share the link with your friends and colleagues so they can get theirs too.

We also just launched a new eefg.com website and will soon be launching benchmarkinghelp.comwhere you will find our utility-sponsored ENERGY STAR® Benchmarking initiatives. 

If you have any questions or need group licenses for your staff, distributors, or customers, send us an email at info@eefg.com.


Want our daily content delivered to your inbox? Sign up for the Jewell Insights mailing list!
By noreply@blogger.com (Mark Jewell | www.SellingEnergy.com) | | Read more

Strategic Customer Service

 
It costs 6 - 7 times more to acquire a new customer than to retain an existing one. – Bain & Company
89% of consumers have stopped doing business with a company after experiencing poor customer service. – RightNow Customer Experience Impact Report
These statistics emphasize the importance of customer service in retaining existing customers. While it’s essential to always strive to bring in new customers, providing excellent customer service to existing customers after the sale is not even optional. It’s a must do.
If your company doesn’t already have a comprehensive customer service plan (or if you want to improve your existing plan), I highly recommend reading Strategic Customer Service: Managing the Customer Experience to Increase Positive Word of Mouth, Build Loyalty, and Maximize Profits, by John A. Goodman. This book provides some great tips on how to deliver high-quality customer service, leverage the power of referrals, and build customer loyalty.
Here’s a summary from Amazon Books:
“The success of any organization depends on high-quality customer service. But for companies that strategically align customer service with their overall corporate strategy, it can transcend typical good business to become a profitable word-of-mouth machine that will transform the bottom line. The author draws on over thirty years of research for companies such as 3M, American Express, Chik-Fil-A, USAA, Coca-Cola, FedEx, GE, Cisco Systems, Neiman Marcus, and Toyota. Filled with proven strategies and eye-opening case studies, this book challenges many aspects of conventional wisdom using hard data and reveals how any organization can earn more loyalty, win more customers...and improve their financial bottom line.”
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By Beth Gucciardi | | Read more
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Recent Insights

  • Sales Productivity

        As a business owner and sales professional, having the ability to analyze metrics and performance statistics is vital to my success. Early in my career when I was working primarily in sales, I would log and analyze all... read more

  • Now or Never

        Does your To-Do list have hundreds of items on it? Do you often find yourself putting off tasks for later? If so, you may want to consider reexamining the way in which you manage tasks. While the To-Do... read more

  • Highlight Your Experience

      One of the best ways to capture a prospect’s attention is to highlight your experience working in similar situations. While it’s not necessarily a good idea to “toot your own horn” (particularly when you’re first introducing yourself), emphasizing specific... read more