Thursday, August 13, 2009

Prospecting 101 for SMEs

Although I mainly work with retailers, I sometimes work with SMEs (small to medium enterprise).

I have just written a sales program for a client and thought I would post parts of it over the next few weeks.

I have generalised it here for the sake of the blog and anonymity, but this should get you started:


  1. The most important thing is to clearly define your customer; if you don’t know who they are you won’t know where to find them.

  2. Define your competitive advantage and your features and benefits – this will help you communicate the benefit of customers buying from you.
    Always remember that you are solving a customer’s problem; the solution is to work with you as you are the best solution for them - problem solved.

  3. Know where your competitors are and identify the gaps, in terms of location or product offer.
    If you think the same customer will benefit from your stock then approach them.
    If you think that there is a better customer near the one your competitor works with target them.

  4. Know where your final customer shops (your customer’s customer) and target customers there.
    Read magazines, blogs and other media and make a prospect list from this.
    Always keep an eye out for prospects, be ever alert!

  5. Do your homework online, on the phone and on foot! Ask questions, that will lead you to the prospects. When someone says no, try to find out why (without being rude or pushy) and try and avoid this in the next conversation!

  6. Prepare a phone script – this will help you be comfortable and concise.

  7. Don’t forget referrals. If you have a satisfied customer, ask them for a referral or suggestion of another customer. A happy customer will always want to help.

  8. Keep up to date records of your prospects and where you are at with them. Don’t ring the same person with the same shpiel – the door will forever be shut to you.

  9. Follow up when you say you will – if you can’t be relied on before they buy from you, they will not be encouraged in terms of the long term relationship.

  10. When you approach them it must be in a way and language they are comfortable with. Always try and speak to someone before sending anything as this will ensure your letter/info gets opened (at least).
    Don’t bombard them with information if they are not familiar with you. Be patient and take it one step at a time.
    Email is cheap but it is not as effective as it once was. Have a hard copy to send as well as some people don’t have or like email.

  11. The customer is always right – without them there is no business.
    Be polite, genuine and professional, don’t be familiar, flirty or sleazy.
    Listen to what they are saying and respond accordingly. If you don’t know the answer to something be honest and let them know you will find out and be back to them.

  12. Do not take any comments, criticism or rejection personally.
    These are professional interactions.
    You don’t know how a prospect’s day is going, what their past experience has been, what their preferences are. You may remind them of someone horrible, they may have had a bad experience with a similar product or they could just be an apathetic business person without any foresight.
    Whatever it is, be professional and move on.
    Remember; No means NO!
    But maybe touch base again in 3- 6 months!

Happy Sales!


Monday, August 10, 2009

A TRUE PLEASURE TO BE A CUSTOMER @ GELATOMASSI!!


Just when I had lost faith in customer service and passionate retailers (my customers excluded of course!), a friend took me to Gelatomassi in Newtown on Sunday for what he said was, "the best Gelato in Sydney (possibly Australia)".

We were in Concord so this was a lot of pressure to put on one place! I liked the Gelato from Concord too but was intrigued by what would make someone go across town to have this gelato. So the challenge was on!
As we approached the store on King St, I felt like I was visiting an authentic Gelateria in Italy far, far away from King St. The colours, the smells, the gelati and the larger than life OWNER!! Salvatore greets EVERY customer with a genuine greeting, is attentive and gives specific advise. Every customer is treated like his first - I loved it!!

There was no doubt that he was the owner, and that he loved his job which you got the feeling was not really a job! He described each flavour with such detail, that I could taste each one as we went through them........how to choose??? Salvatore knew when to give me space to decide and when to step in - a true, passionate retailer!

We sat opposite the Gelato counter and I watched the maestro at work. It was like watching a conductor with his orchestra! Managing every action; the customers entering, deciding, buying, sitting, leaving........the flow was seamless!

Out of nowhere, as if he could read our minds, Salvatore appeared with glasses of water and even shared a mandarin from his own tree with us!! I was in retail heaven!!

You have to understand, lately I have been really focusing on customer service and concluded that people have very low expectations, which sadly are being met by more retailers than not! I have been very lucky to have been working with passionate retailers over the last few years. These retailers make the others look even worse.

Notice I have barely mentioned the actual product here? Product can be duplicated in other businesses - it is the experience that is the differentiator!! (BTW - the product was deliziosa!! my friend was right!)

A Truly Fabulous Retail Experience is one where you walk out with a smile on your face after spending your money, thanking the retailer for making you feel happy! I don't like to reward bad behaviour and bad retail. If I walk into a store, cafe, restaurant or business and don't feel like I am appreciated, I leave - simple!

Consistency is super important here. How many times have we gone back to a store after a great experience only to be super disappointed?! To do it once is not enough, to do it twice is not enough. High standards must be aimed for, achieved and maintained. Make no mistake, retail is tough and the only difference between you and your competitors is your service and standard!

At Gelatomassi, I was happy to part with my money and spend some time in Salvatore's world and eat my gelato & sorbet and when I said thanks and bye, I knew I would be back.

Share your story with me - tell me about the BEST retail experience you have had!


Experience it yourself!

Gelatomassi
262 King St, Newtown
phone: 9516 0655
http://www.gelatomassi.com.au/





Saturday, August 8, 2009

Bit about Me!

Hello!

I thought I would cut my Bio short so that you can see all of the other things we have here! What to do with all the other info that gives you an insight into me and my business?
So I can put it here!

Over the past 20 years I have acquired many skills and things I love!

I am a paper lover, retail specialist, trainer, consultant, product designer, wholesaler and now adding blogger!!

I started Paper Magnolia in 2004, bringing exquisite stationery to Australia and developing my own products in response to the market. Fine Stationery is back in style and Australians are once again embracing fine, quality stationery. We work with great retailers from around Australia and New Zealand.
We pride ourselves on having products that are 'retail ready' as they have been developed with the market in mind. We understand the needs and limitations of retail and how best to work with retailers. Being a Grace Bros Management Cadet means that my knowledge and expertise in retail is based on a practical experience from the ground up!

Magnolia Solutions is our newest 'product', really a 'service', which has organically developed from our close relationships with customers and applying our retail marketing skills. Retail is hard work and we understand the vital elements required to create a successful retail business.

Magnolia Solutions offers customers creative marketing solutions for their retail business. We are working with retailers in all product categories. Despite the current economic climate, we are working to bring the theatre back in to retail while increasing profits.

Our packages have been developed to help customers as much, or as little, as they need it.
We offer packages from; a Business Health Check, Communications Package, Promotions Package and Full Embedded Support.
As with any business we have been evolving. We also work with some clients as their external Marketing Department which has been great fun and wonderful to see some projects that have been on the drawing board for a long time come to fruition and be successful!

Results are immediate, as is customers’ renewed enthusiasm in fine-tuning their business and getting on with what they love - being great retailers!

Enjoy the Blog!

Don't forget to leave your comments and let me know if there are any topics you would like explored!

Cheers!
Nancy :-)
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