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to To The Point list To the Point/Jan/2005 • Do we talk too much? Research shows that salespeople who let customers do 80 percent of the talking close more profitable sales. A friend who was trained in the techniques of interrogation says the benefits of getting the customer to talk should be obvious. “The goal of interrogating someone is to obtain information––not give it. It’s the same with selling.” He says it doesn’t make sense for companies to be so intent on having salespeople talk so much about their products and services. “The goal is not about getting something into the customer’s head. Rather, it’s ‘interrogating’ the customer to obtain all possible information to use in identifying the right solution,” he says. “The best salespeople are those who ask the right questions.” He’s on target. When it comes down to it, what customers buy is the most appropriate solution to a problem. If we haven’t identified the problem, how can we make the sale? That’s why it makes sense to get them to talk. • Don’t waste your time thinking about insurance. This may seem like strange advice coming from someone in the insurance business. And if you’re waiting for the other shoe to fall, it won’t. When asked what they do for a living, most insurance people will tell you, “I sell insurance.” The way I look at it, “I sell insurance” sends the wrong message. Insurance is a tool for solving the kinds of problems we can’t easily afford to pay for ourselves. Even more importantly, insurance shouldn’t even be considered until a series of other solutions have been applied to specific problems. The insurance broker’s primary expertise should be in helping identify a company’s potential risks and offering the most appropriate and cost-effective solutions for reducing or eliminating those risks. A company’s claims history, for example, is a map pointing to where problems are to be found. Finding ways to solve the problem reduces the risk. If there’s a history of forklift accidents, the answer isn’t buying more insurance. The task is figuring out why they are occurring and initiating the steps necessary to eliminate the causes. Providing the right insurance coverage is the last step in the risk reduction process, not the first. After physical changes have been made, employees are trained or equipment undated, the last step is figuring out the appropriate insurance coverage. What the business insurance buyer should look for is the insurance agent’s risk reduction expertise. That requires insurance expertise, to be sure. But it also involves the ability to identify potential problems and offering non-insurance solutions. The first insurance policies offered coverage from loss by fire. What happened next is still at the heart of the insurance process: finding ways to keeping fires from starting or extinguishing them quickly before a large loss occurs. The concept still applies. • “Have you visited our website?” One business executive asks salespeople who want an appointment this question. If they say “no,” there’s no appointment. If they say “yes,” he asks them what they’ve learned. Their response to that inquiry is the way he decides if they get the appointment. It’s an interesting test because it helps determine if the salesperson has made at least a minimal effort to understand the prospect before making the call. In the same way, salespeople who can comment on something they have seen on a website or who can ask more relevant questions set themselves apart from those who failed to prepare. • Nothing beats looking forward. If you want a snapshot of today’s economy, Andrei Postelnicu and David Wighton may have captured it. Writing in Financial Times (12/30/04), they looked back over 2004. “It was as if everyone was sitting at Starbucks, listening to Apple iPods, while checking their Yahoo email to see how they had fared in an eBay auction.” They tell us that these companies define “the daily routine of the new economy in the way Coca-Cola, General Electric and Sears, Roebuck did in the past.” Then comes the shocker. “None of those companies made it into the top 100 performers of the S&P in 2004.” This is an interesting—and helpful—business insight. The more a company is an integral part of everyday life, the better. • Spontaneous generosity. Almost before the news of the tsumani’s destruction reached our shores, Americans were giving to the relief efforts. At one point, the American Red Cross said that contributions were rolling in at the rate of $100,000 an hour. Save the Children and other organizations experienced the same wave of giving. Visitors to Amazon.com and other online retailers were greeted with web pages offering online giving opportunities. Finding fast, convenient ways to participate in a cause is the key. During World War II, school children collected scrap metal and rubber for the “war effort.” They brought their nickels and dimes to school, filling little books with “war stamps.” The filled books were exchanged for a “war bond.” And “Victory Gardens” were in every backyard. When there’s a need, we want to be part of the solution. But there’s one other factor: we want to initiate giving and act spontaneously. Perhaps this is why the Salvation Army kettles have long been so popular. Perhaps the combination of the computer and the web is making it more convenient to give spontaneous expression to our sense of caring and compassion. Millions of Americans sharing with those half a world away may do much to help us rediscover just how wonderfully generous we are as a people. • The right thought for the New Year. “Confidence isn’t optimism or pessimism, and it’s not a character attribute. It’s the expectation of a positive outcome,” states Rosabeth Kanter, the management guru. Sincerely,  Tom Helbach Back to To The Point list |
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