RISK REVERSAL

Posted by janinedavison on May 17, 2016

Risk Meter

 

 

 

 

 

 

 

The concept of Risk Reversal is simple – but it requires some boldness and guts.

Basically, it means that YOU, the businessperson looking to close a sale, should identify the various reasons a potential customer would hesitate to buy.

You then think of little things you can do to overcome those reasons. The Risk Reversal is like a Guarantee – but way more powerful.

The Standard Guarantee – A standard guarantee offers buyers a 30 day period to return the product for a full refund. This type of guarantee is required by law in many countries such as the USA.

The Extended Time Period Guarantee – A Level 2 guarantee will extend this 30 days period to 90 or more days. Many sellers swear by the 90 day guarantee. By giving the customer a full 90 days to try your product you often lower the refund rate. How long is your guarantee?

Then we step into the Zone of Risk Reversal.

A few years ago, a guy by the name of Nick got frustrated because he could never find the right kinds of shoes he liked in the local mall. Nick went home that day and got online hoping to browse through online shoe stores – but there were few of them set up at that time in 1999. Nick wondered if he could establish his own online shoe store. The idea kept jumping around in his head and eventually he quit his day job and founded Zappos.com.

At first people told him he was crazy. Shoes are something you need to hold in your hand before buying. You need to try them on. Feel the leather. Have your spouse see them on you and let you know what they think. There were a multitude of reasons to NOT buy shoes online.Yet Zappos thrived. In 2005, the 6 year old company did $370 million in shoe sales! How?

Well let me tell you what gets most people hooked on Zappos. Sure, Zappos had a wider variety than a traditional shoe store. But it was Zappos Risk Reversal policy that really makes most prospects into loyal customers. Here’s the decision making process prospects go through before buying their first pay of Kenneth Coles on Zappos.

  • What if I don’t like that shade of brown? Can I return it? Zappos’ answer was yes.
  • If I try it on and find it won’t fit – can I return it and get another pair? Their answer: yes.
  • Will you pay for the shipping – and the cost of return shipping? Their answer was again: yes!
  • If I buy it and then randomly change my mind – can I still send it back and get my dough back. Again – the answer was yes.
  • If I bought it and then found one for a cheaper price on Canal Street, can I send it back? Again - yes.

They had an answer for every SINGLE doubt their prospects had. They knew their prices were good and they knew that once they got them hooked, they would be willing to tell their friends about them. They were willing to bend over backwards to give their prospects the best service possible and eliminate every single doubt from their mind. No physical shoe store I know would place that much trust in a customer.

Zappos had effectively reversed every single doubt prospects could have in their mind. They made it a no-brainer to be their customer.

What do YOU do to make it a no-brainer for people to buy from you?

That my friend – is risk reversal.

Dedicated to your success :)

Janine Davison – Exposure Coach 0450 882 778

Learn more about RISK REVERSAL and other crucial business teachings at www.businessschoolonline.com.au

Fun superhero

Are you jumping on the “Selfie” video bandwagon?

Posted by janinedavison on April 6, 2016

There’s a lot of Marketers out there, telling you that you should be making videos of yourself and putting them on Social Media. But seriously who’s watching them and what makes you think people want to know more about you?

janine blog pic

 

 

 

 

 

 

 

 

 

How annoying would Facebook be if everybody jumped onto the “Selfie-Video Bandwagon”? Imagine scrolling through post after post of peoples (often close-up) faces, shamelessly promoting themselves? Personally I think it can be quite damaging to your brand. After all, they say you make your first impression in just a few seconds right?

We can blame  the “I” generation for this barrage of  shameless self-promotion!  (And anyone who has a teenager will know exactly what I am talking about!)  The “I” generation thrives on social media with constant selfies and updates about their lives. It’s all about them! And this goes way-way beyond any news and special events. It’s those “everyday” posts about when they checked into the gym, the outfit they wore that day,  the pic of them and their dog waking up or they are just feeling like having a rant about the bad day they are having, so everyone cops a serve on Facebook. The list goes on and every little detail about their lives is out there for everyone to comment on. (And absolute fodder for Facebook trolls!)

These days the ”I” generation seems to now include what I call, “Facebook-Preneurs!” Some people in business who think their business is just so fantastic and MUST share every last detail with the general population on Facebook.  What they are doing, why they started, how long it took, how amazing it is to work from home, why they are the go-to person and why they are going places etc. All done as a selfie-video to promote themselves on Facebook!

When I see these videos, I often think to myself,  that I don’t even know you, so why would I want to listen to your life story or join your team, listen to your one hour podcast, book your seminar or buy your E-Book? And more importantly I think that you don’t know a single thing about me, so why are you just blanket-marketing yourself out there to anyone who hasn’t already pressed stop on Facebook auto play?

Think about this…

Have you every been to an event where you met someone and found them quite painful as all they did was talk about themselves?

If you just met someone in person would you download your life story on them?

Yet people think this is a good idea to promote their business on Facebook??

Here’s the thing; Yes you should absolutely have video promotion as part of your marketing campaign, but there are a few thing to remember here….

1. You need to INTERRUPT your market – but not with your face! Remember that making sales in your business is about having something, UNIQUE,  RELEVANT or IMPORTANT to your target market. No offence but your face probably isn’t it! (maybe some exemptions here for the Makeup and hair tutorials!)

2. Your consumer cares about themselves more than they care about you!

3. Stop talking about yourself. Focus on how your customers may be feeling prior to buying your product/service and address their needs and wants.

4. Demonstrate how you solve the problems they may be having, without talking about yourself.

5. Don’t use the word “I” as that is still talking about yourself!

6. If you haven’t got the hint yet…. Stop talking about yourself. The general population doesn’t care about you or your business, they only care about what’s in it for them!

Being able to promote your business without talking about yourself is a learned skill!

Something else to think about…..

You are 6 times more likely to get business from someone who has actually met you in person! So while you definitely need to have a great online presence, I can tell you from experience  that building meaningful, trust-based relationships through business networking in person is a far more powerful way to become the local expert rather than being another pop-up face on Facebook!

Learn how not to talk about yourself and make sales: www.businessschoolonline.com.au

Dedicated to your Success,

Janine @ExposureCoach

***Disclaimer: Please note that this is just my opinion as a Sales & Marketing Coach and you don’t have to agree with the content ***

 

 

 

Are you too nice to be in business?

Posted by janinedavison on March 15, 2016

It’s super competitive and you are going to have to learn to manipulate people. So are you too nice to be in business?

Exposure Coach be nice

 

 

 

 

 

 

 

 

 

Being a Sales Coach, people often tell me I, “Have the gift of the gab” etc but the fact is that my skills are 100% learnt!  Sales skills are learned skills. Skills that you MUST learn in order to survive in business. Just so we are clear, no one is born a Salesperson.

But it’s hard to learn how to be great at Sales, because Sales is a Manipulation.  Now if I had a dollar for every business owner who has told me they aren’t a Salesperson I would be really rich…..but my response is always the same. FACT: If you are in business, you are in Sales!

Sales is a manipulation because you are trying to get someone to buy what you are selling.  And because the word manipulation has negative connotations, this stops many business owners in their tracks!  Sales is about CONVERTING a prospect into a PAYING customer. And nice people struggle with this, because it will take you WAY out of your comfort zone and force you to say things that don’t come naturally to you. This affects your confidence and let’s the self doubt creep in! And your sales get lost!

Now I see many (nice) business owners start up with a (nice) website, a (nice) Facebook page, (nice) business cards and then become a serial business networking attendee talking to other (nice) business owners but all of that is simply wasted if you cannot close a sale.

Why do you think so many startup business owners end up back in a job within a year? They might be great at what they do but not-so-great at business and sales, which actually is the most crucial knowledge that will keep you in business. Many often eventually fall back into part-time work to make ends meet, which (in my opinion) is the beginning of the end of your business. And that fact still stands that 8/10 small businesses fail within 2 years in Australia.

So if the odds are stacked against you when you startup in business, what are YOU going to do so that YOU do not become the next statistic?

The tip here is commit to LEARN. There’s that old saying, “The More You Learn The More You Earn” and you still hear it from time to time, because its true!

You need to make time each week to LEARN about Business &  LEARN how to make Sales. Especially if you aren’t making many right now!

What I say to my clients is; “The Money you want is actually outside your comfort zone. Stay where you are and you will get exactly what you have right now. If that is not enough and you want more you have to learn more, commit more and plan your success with an accountability partner or coach!”

So think about whether you are too nice to be in business? How much business do you cost yourself because you don’t ASK for the business and don’t CLOSE the people that you are talking to….

And just to be clear, this doesn’t mean you have to turn yourself into a “Business-card-collecting-bitch” at the next business networking event you attend. It just means you have to have a PURPOSE  around your business promotion.  And that purpose, should be learning how to close a sale, so that you can STAY in Business and have the success you have always dreamed of!

Until next week…

Dedicated to your success,

Janine Davison – Sales Champion @ Exposure Coach. 

For more information : www.businessschoolonline.com.au

Find me on Facebook: www.facebook.com/exposurecoach

 

 

 

The Perfect Bait

Posted by janinedavison on August 28, 2014

In the last post we talked about how to learn about your big fish and prepare for the first contact you’ll make with them. This first contact is essential to your success. You need to instill confidence in them. They need to know you can fulfill exactly what you are offering on time, at a good price and at the quality you promise.

Today we’ll actually go through the big approach and how to make that perfect first impression. Before you put together your approach plan, you need to choose with big fish you’re going after. Take a look at your notes and the research you’ve done about prospective fish. Then decide which one will be the easiest approach to start out with.

There are a series of things to go through in choosing which fish to start with. They are:

  • Position Your Business
  • Compile Your Hit List
  • Select the Best Target

Position Your Business

You need to position your business to make the first move by listing your revenue streams, id and list your operational procedures, where your fish is initially positioned, your big-customer research, and putting it all together.

Compile Your Hit List

Start with a list of all the companies you’ve been considering. Then narrow it down to the ones who know could use your products or services. Don’t overlook obvious choices, whether they are big or small. Even small companies could be big fish in the future.

Select the Best Target

Once you’ve got your list narrowed down, you need to decide which one is the best fish to start with. You need to consider a couple of things:

  • Which have the most purchasing resources to spend?
  • Does their company vision compliment yours?
  • What are their employee incentive programs as they relate to your products/services?
  • What’s the company’s real need for you?
  • Will the partnership lead you off-course?

Now you should have a target in mind to start with. It’s time to plan your approach and execute that plan.

Here’s the step-by-step plan to help you make a good first impression:

  1. Build and analyse your database. Divide your leads into three different categories: hot leads, great fits and secondary leads.
  2. Send out introductory mailings to your target to introduce yourself, your company, services, products, and vision. They need to be short, clean and concise.
  3. Follow up with your first phone call 2-3 days after they would have received the mailings. During the phone call find out whom you need to be speaking with in the future and try to set up a meet with the right person.
  4. Follow up your phone call with another mailing that thanks them for taking the time to speak with you and offer more details about your products/services. Use this letter and opportunity to set up a meeting to do a presentation.
  5. Follow up the letter with another phone call a couple of days after they would have received the letter. This phone call is to help you further develop your relationship with the prospective client. You should also be able to set up a presentation meeting with them.
  6. Call again a week later if they haven’t agreed to a meeting or presentation. Ask if they received your creative letter (the second one) and if they have a minute when you can stop by and introduce yourself in person.

Now, don’t be upset if you don’t seal the deal right away. Some people simply take a little longer to woo. This can all be a little intimidating at first, but when you know you are offering a quality product/service, you can’t go wrong.

Once you’ve gone through this process and make first contact (and hopefully a good first impression) it’s time to put your best face forward, which means sending the right salesperson to seal the deal.

If you need help putting together your approach and make a good first impression, try our FREE test drive to work with a coach and have access to a wealth of great resources and tools.

That’s all for now, and hope you enjoyed today’s blog.

Janine

Untangle the Red Tape

Posted by janinedavison on August 12, 2014

In the last post we talked about how to bring the big-company mindset into your business and your team. This will help you overcome the mental obstacles that will keep you from being successful.

Now, that you’ve learned how to overcome that, we’re going to talk about who your fish is. It’s important to know about the fish you are looking for before you put a plan together. We’re also going to take a moment to talk about the potential “red tape” you may encounter along the way.

The most important thing to know about your fish is their purchasing habits and procedures. There are four main things you need to work on in order to be successful:

  1. Responsibilities: You need to know who has influence over purchasing, who does the actual buying and who can kill a deal if they want.
  2. Get on Their List: You need to know how to get on their list of people to buy from. Your name needs to not only be on the list, but at the top of it and in as many categories as possible for the more interaction. Ask about a procurement program and what you need to do to go through the application process.
  3. Lingo: You need to learn the company’s unique language and communications methods. These could include report names, buzzwords and even the nicknames they have for their employees.
  4. Fiscal Budgets: It’s essential you know the fishes fiscal budget, so you know exactly when they are planning their expenses for the year.

Now that we’ve talked a little about what you need to know about your fish, let’s a quick look at the “red tape”.

Bureaucracy might as well be a four-letter word with the emotions it stirs in all of us. “Red tape” is a necessary evil, but one you can use to learn from. There are two ways to learn from their system:

  1. Analyse their activity.
  2. Review their correspondence.

Being an outsider looking in can have its advantages too. If you hate dealing with the “red tape”, imagine how their employees feel dealing with it. If they need to crunch some numbers, offer to do it. If they need more info, make sure you are giving it to them in a user-friendly way.The things we talked about in this lesson will help you prepare for the big approach. If you need help with any of this, try our FREE test drive to find the right tools to get the job done.

Exposure Coach is helping small business owners STAY in business with the Most Powerful and Dynamic E-Learning System Ever Created.

Check out the reviews here: https://www.facebook.com/exposurecoach?sk=reviews

Get 4 free classes here: www.exposurecoach.com.au

Email me direct for help: janine@exposurecoach.com.au