The Power To Say 'Yes'

Contraction.

That is: the dominant characteristic of decision making in, and among a broad spectrum of businesses, that deal with other businesses. The B2B sector has been subjected to profound structural changes during the past two years.

Retrenchments have thinned ranks. Delegated authorities have been withdrawn and concentrated to those in higher ranks. Budgets on discretionary purchase items have been slashed. As a consequence many relationships have been noticeably fractured, and in some instances, terminated. Those who once had the authority and power to say “yes” have been reduced to the options of only saying “no ... unless referring” – or having to refer it to others.

Income- streams have rapidly dried up. Remedial actions by service and product providers who have lost income streams can readily encounter “locked doors” or advice that new supplier arrangements have been implemented which do not include them.

MULTI-CHANNEL RELATIONSHIPS

One-on-one relationships in business are characteristically fraught with danger.

Changes in personnel, regimes and policies expose often long-established suppliers to the reality of cash-flow evaporation. It’s not so much that the “dam has run dry”, it could be that it is being rechannelled or water being dammed upstream.

It is a two-sided coin. As staff members of supply companies “walk-out the door” so too do a number of clients. Loyalty can be, and often is, personal.

Therefore, the lessons which are being strikingly and tellingly learned in the contemporary marketplace underscore the imperative discipline of ensuring that B2B relationships are established, sustained and enhanced amongst at least two, and preferably more, people in each entity.

Disruption is not a concept which is limited to technology. Disrupted relationships and supply agreements can be, and often are destructive.

The conduct of regular audits of B2B relationships, communication channels and logistic infrastructure is prudent, if not essential. It contributes to the attainment of optimal productivity, consistency and continuity. Moreover, contingencies can be formulated, documented and implemented to avoid or redress disruptions and contractions.

Barry Urquhart

Facilitator – Business Development Workshops

Marketing Focus

M:      041 983 5555

E:       Urquhart@marketingfocus.net.au

W:      www.marketingfocus.net.au

80:20 Rule Myth Shattered

Ask, and you will receive. The findings of a recent national research study have shattered the widely-held contention that successful businesses generate around 80% of their revenue from repeat and referral transactions.

Referrals have declined, substantially.

Consumers report effecting direct and personal referrals and recommendations to less than 8% of entities with whom they dealt with in the 4 weeks preceding interviews.

Arguably, the most disappointing finding was that only 2% of consumers reported being requested by service providers to provide recommendations, referrals and introductions.

Clearly, the art and discipline of asking for business has been lost on many -, new - generation employees in particular.

Things don’t just happen in business. They need to be encouraged, supported and nurtured.

Follow up and follow-through are integral elements of a transaction. They are the founding steps to establishing and sustaining relationships, adding to a burgeoning customer base.

Recruitment, induction, training and ongoing development processes need to feature and to reinforce the need for and benefits from a consistent practice of requesting endorsements, recommendations and referrals.

They must be complemented by an integrated schedule of corresponding, self-initiated contacts with those prospective clients who have been identified and nominated as satisfied customers. The circle of life has similar characteristics to that of the cycle of business. Birth, rebirth and procreation are fundamental. 

Remember, ask, and you will receive. Dismiss concerns about the fear of offense and rejection.

Barry Urquhart

Retail Strategist

Marketing Focus

M:      041 983 5555

E:       Urquhart@marketingfocus.net.au

W:      www.marketingfocus.net.au

"We Don't Do Call-Backs"

Insanity.

Some business practices are well beyond the sage, Albert Einstein, who once stated:

Doing the same thing over and over again and expecting different results is insanity.

Advising prospective clients who have telephoned that they will have to wait up to 20 minutes to speak to a consultant, and then declaring we don’t do call-backs is insanity personified and accentuated.

It happens daily. Indeed, all too-often, at great expense to the profile, images, revenues, profits and competitiveness of entities.

Regrettably, managers seem oblivious to the practices and consequences. Hopefully, they do not reflect polices.

The monitoring of incoming calls does not typically recognise, register and report on forsaken businesses opportunities.  Indeed, average telephone conversation durations can be reduced, and then applauded by management.  Some statistics simply measure the wrong dimensions.

Ignorance about and indifference to service excellence and the value of relationships among receptionists, telephonists and consultants is mind-numbing.  Some just don’t get it.

The contemporary global, national and local economies are such that few, if any, businesses can afford to readily knock-back or reject outright business opportunities.

However, regular work-practices are erecting barriers, filters and impediments for those who initiated contact and have self-declared they want and need specific products, services and applications.

A lack of astute, discerning and disciplined recruitment, induction, training and development practices is omnipotent.

A COMMON REFRAIN

If I could talk to more people, I could do more business is a common refrain, particularly among incentive-based sales people.  They know the innate value and resultant sales that arise from conversations.

Sadly, many employees believe in, and are driven by the contention that they aren’t sales people.  Wrong.  Every team member contributes to the sales process and gracious, courteous and responsive communication is fundamental........ natural and easy.

Business processes that do not involve people are typically self-serving, administrative and do not generate revenue and profits.  They are correctly designated to be cost-factors.

There is an increasing awakening that in business we all need to seek out, become involved in, enjoy and follow-up opportunities to communicate.

Incentives should not be required to encourage and to have all team members willingly undertaking call-backs.  Ringing up prospective customers and clients is the first step in ringing up increased sales and profits.

Indeed, the most consistently successful business, marketing, sales and service people make it a practice to “call-back” existing prospective and past customers. They know that conversations are on-going, and that they need to be part of the process, to ensure that they enjoy the outcomes and consequences.

NEVER TO BUSY

No-one should ever consider themselves to be too busy to make call-backs – or to initiative contacts.

Administration duties, meetings, and budgeting can wait.  Customers won’t, and should not be made to do so.

Attrition rates among the relationships with established customers are rising, in some instances up to 40% per annum.  Winning back those customers can be, and is, complex, involved, expensive and time-consuming.

Policies like we don’t do call-backs, do free-up time in the now, and in the future.  Over the longer-term there are few or no customers to call-back, speak to or to seek out.

CALL-BACK DISCIPLINES

There is much to herald about the disciplined practice of call-backs, including:

·       Commitments should be given, and fulfilled about call-backs.

·       Time horizons should be nominated.

·       Records of conversations, undertakings promised and milestones achieved should be documented, retained and programmed for follow-up (to enable further call-backs).

·       A daily schedule of at least 6 self-initiated call-backs should be implemented, to maintain enhance and celebrate relationships – which are founded on, and sustained by communications.

FOOTNOTE TO MANAGERS

I commend those who become aware of the practice by competitors that they don’t do call-backs, to initiate contact with the managers of those entities to surrender yourself as being willing to receive and collate the names of those unfilled customers so that they can make those annoying, disruptive, time-consuming call-back calls.

For those customers who are subjected to the inane, if not insane practice of “no call-back policies” contact management and enquire about the identity and contact details of competitors who do call-backs.

They might just get a clear message......hello.....no hang-ups.

THE AUTHOR

Barry Urquhart of Marketing Focus is an internationally respected business strategist, consumer behaviour analyst and conference keynote speaker.

Barry Urquhart

Conference Keynote Speaker

Marketing Focus

M:      041 983 5555

E:       Urquhart@marketingfocus.net.au

W:      www.marketingfocus.net.au