The importance of "outcomes"

I recently completed a sales pitch and am waiting to hear if I was successful. That is a bit beside the point of this blog but I wanted to share it with you.

One thing kept going through my mind - what are the outcomes?

Traditionally we are all told to use the FAB methodology - Features, Advantages and Benefits.

For most products this seems entirely logical and intuitive, which might explains its almost universal appeal.

For services it is not quite so valuable. What are the benefits of employing a coach, a mentor, a consultant, a creative agency, a PR agency? These do not fit readily into the FAB concept.

For services the key must be to establish clear and definable outcomes. An x% increase in profits, traffic, interviews. Or a y% improvements in client satisfaction, employee satisfaction and so on.

Without outcomes the engagement wins will be difficult to quantify. So start at the end - what is it that you want to achieve? You will be surprised how it gets clients to engage in the consultancy process.

How to get through the credit crunch - keep the focus

I will start by admitting that I do not understand the losses made by the banks as a result of the sub prime lending in the US. In the Daily Telegraph it stated that the losses to the British banking system of more than £20billion are equivalent to 3% of our GDP. The US expect to lose £72billion, Japan £5billion and Europe will lose £61.6billion.

These are huge figures. But as I say I don't really understand how they made such a hash of it. It would appear that there are humungous numbers of payment defaulters in the US.

Moving on however is the impact it will have on our economy. The DT Business section highlights a downturn in M&A activity as a direct consequence of the credit squeeze. Banks no longer have the money to fund them or if they do it will be at very high interest rates.

So what does the creative agency do to get through this turmoil? Are there any benefits that can be gleaned from this situation? The answer is a most emphatic yes - we will all have to become leaner and fitter!

I believe that the answer is to go back to basics.

• Build a strong reputation - become famous for something
• Deliver value laden services or products - exceed client s expectations
• Build long and strong relationships - people work with people they like, know and trust
• Manage the cash - do everything that is legal, decent, honest and truthful to manage cash
• Look after the talent - Good ones go, the poor ones stay. Make sure you give them no reason to move
• Promote yourself as widely and as effectively as possible - internet marketing affords cost effective new ways to get in front of new clients
• Be innovative - what got you there wont keep you there so be on the alert for new ideas
• Get the processes right - efficiency means using the scarce resources where they generate the best returns
• Watch the profit line - winning on price is the fools way to grow. Keep the margins high!
• Enjoy yourself - get some harmony back into your life!

Simple stuff but hard to implement. Done well they will ensure you get through the crisis.

See you on the other side!

Persistance versus Persecution!

"Life is difficult" according to the opening line to the book "The Road Less Travelled" by Scott Peck

But is is not the only thing that is difficult

Selling is difficult.

And one of the most difficult things to balance is the need to make contact with the client without appearing to stalk them.

It is a fine line to tread. Too many calls and emails and the client will think that they are being stalked and will eventually kick you out, not for any rational reason to do with your offer or the sale but because they cannot stand the bombardment of emails and telephone calls.

However, leaving them alone and not communicating with them will almost certainly mean that they drift off to other projects or worse still to your competitors.

The secret is to keep in contact by offering relevant information. Keep them posted with updates, news items, feedback. The headline in the communication could be - "I saw this and thought of you" as it summarises what you might tell them.

Sales Pitch - you present to real people not automatons

Buyers are people! Never forget that! Even if they try their hardest not to behave like a real person, behind the façade is a human being with all the frailties that you and I possess.

Buyers are people! Buyers have their careers to think of as well as their company’s long term goals. A bad decision can negatively impact a career, hence the motto “No one ever got fired for buying IBM”. Think about the buyer as a colleague rather than the enemy or the barrier to entry.

Buyers are people! Buyers are looking to minimise the risks. The service they are looking to buy has certain risks attached to it. By taking the time to minimise the risks the agency stands a better chance of being awarded the contract.

Buyers are people! A sales pitch, tender or a beauty parade is a form of mask worn by commercial buyers to hide behind. Find ways to get behind the mask to interact with the people. Always remember that people buy from people that they know, like and trust.

When you enter into a sales pitch remember that one of the goals is to reduce the risk to the buyer as a person as well as in their role. Get to know them and you are well on the way to success.

If you want to know more, call me on 07956 532963 or link to the website www.credence-uk.com

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