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Sales Training London How Do You Make Money When You Lose the Sale
| Guest post by: Marcus Cauchi |
Article Overview: This piece is heresy for many of you. Competition ..... Kill...Kill....Kill But have you ever considered how much money you leave behind every time you fail to make a sale? I don't suppose you fancy making money even when you don't win the sale.
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Free Download - Sales Training London: Why Aren't You Making R.E.C.O.N. Calls to Your Customers to Keep Them By Marcus Cauchi |
Sales Training London How Do You Make Money When You Lose the Sale
You're going to hate this and if you have a boss, s/he's going to have kittens at the very thought of acting on this advice. I don't suspect many of you will.
Consider this scenario for a moment. You pitch a company, you qualify them and you decide that you're not right, but they do have a genuine need. Or you pitch, they have a genuine need but your chemistry isn't right. What is that business worth?
Do you have a competitor you know is good and reliable in the area who might be better suited to winning that work. Why not agree to take 10-30% of their fee as a finder's fee and introduce them to that prospect you can't, don't have enough capacity to help or don't get a along with enough to work with?
Average order value: £10,000
Traditional approach - revenue £NIL
Co-opetition: Revenue £1,000-£3,000
So get out there, kiss and make up with your rivals. Imagine if your close rate is as high as 4:10. That leaves 6:10 revenue opportunities unclosed and no money. If they close less than you at 1:3 that will give you up to an extra two thirds of 1 deal's worth of revenue (or £6,000) for every 10 you pitch for an don't win.
I'm sure I could have explained this more clearly but for those of you who do get it, I don't suppose it makes commercial sense. Then add to this the good will of them passing you their unwon prospects.
I don't suppose you would ever alert your competition to pitch opportunities when you know a prospect is going out to market to 3+ vendors to increase your odds of making some revenue? That would be going too far.
After all, you'd never COLLABORATE WITH YOUR COMPETITION.
(s) SALT (Europe) Ltd, 2006
Regards
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Online Sales and Marketing vs Traditional
- Hi Evan,
I am noticing that many of the posts in the Sales/Marketing section deal with online marketing, SEM and and SEO and Affiliates. I was wondering if it might be a good idea to separate that section into two; 1) Online Sales and Marketing; 2) Traditional Sales and Marketing
Top 19 Copywriting books
- 1. Ogilvy on Advertising. David Ogilvy. Wiley.
2. Positioning: The Battle for your Mind. Al Ries and Jack Trout. Warner.
3. The New Positioning. Jack Trout. McGraw-Hill.
4. Tested Advertising Methods. John Caples. Prentice-Hall.
5. How to Make your Advertising Make Money. John Caples. Prentice-Hall.
6. Guerrilla Advertising. Jay Conrad Levinson. Houghton Mifflin.
7. Direct Mail Copy that Sells. Herschell Gordon Lewis. Prentice-Hall.
8. Sales Letters that Sizzle. Herschell Gordon Lewis. NTC Business Books.
9. Herschell Gordon Lewis on the Art of Writing Copy. Herschell Gordon Lewis. Prentice-Hall.
10. Romancing the Brand. David Martin. American Management Association.
11. The Art of Writing Advertising: Conversations with William Bernbach, Leo Burnett, George Gribbin, David Ogilvy, Rosser Reeves. NTC Business Books.
12. Confessions of an Advertising Man. David Ogilvy. NTC Business Books.
13. My Life in Advertising. Claude Hopkins. NTC Business Books.
14. Scientific Advertising. Claude Hopkins. NTC Business Books.
15. How to Become an Advertising Man. James Webb Young. NTC Business Books.
16. The Lasker Story as He Told It. NTC Business Books.
17. Advertising Concept and Copy. George Felton. Prentice Hall.
18. The Copy WorkShop Workbook. Bruce Bendinger. The Copy Workshop.
19. Hey, Whipple, Squeeze This: A Guide to Creating Great Ads. Luke Sullivan. Wiley.
This should keep you busy for at least a year.
Enjoy!
Re: Online Sales and Marketing vs Traditional
- [quote="ltrahan":31w9r2iz]Hi Evan,
I am noticing that many of the posts in the Sales/Marketing section deal with online marketing, SEM and and SEO and Affiliates. I was wondering if it might be a good idea to separate that section into two; 1) Online Sales and Marketing; 2) Traditional Sales and Marketing[/quote:31w9r2iz]
I second the request...
Re: Keeping up wtith the (super rich) Joneses
- [quote="ChrisH":3ai8l8sj]
The reason I mentioned Dave Matthews and his band members is because they have 3 properties in one county. If you feel that you NEED 3 or 4 homes, why not buy them in different places???
Chris[/quote:3ai8l8sj]
For myself, I'd like a penthouse apartment in Manhattan, and a penthouse apartment in London, so that I could go to Broadway and the West End theaters whenever I wanted. (I'd also need about that much money to be able to afford to see these plays, as ticket costs are ridiculous!)
I'd also need my own private jet, so that I could fly between New York and London without having to go through the hassle of large airports.
Well...I suppose a pent house apartment in Hawaii could be useful as well...
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