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Thursday, Oct. 27, 2016

Seven Deadly Sales Sins

Posted Monday, January 7, 2013, at 1:09 PM

Whether you call it sales, business development or fundraising, bringing in new customers or donors is essential to your organization's growth. After all, "nothing happens until a sale is made," as the late founder of IBM, Thomas Watson, so prolifically stated.

To make sure your team is on a path for sustained growth, avoid these seven deadly sales sins.

Assuming great work equates to loyalty: Don't mistake a paying customer for a loyal one. Perceptions of value can vary between vendor and customer. If in doubt about the unwavering loyalty of your customers, ask what else you could be doing to exceed expectations.

Assuming clients will refer you: Your customers aren't likely to refer you of their own accord despite their satisfaction with your work. Instead, take your client to lunch a couple times a year to see just how happy they are and inquire about their changing business needs. Not only does this present up-sell opportunity, but it's an ideal time to brainstorm about possible referral candidates.

Not building bench strength: Investing all of your time in a single relationship at an organization is risky. If your contact moves on, you could be at the mercy of a new manager wanting to make his mark with new partnerships. Savvy sales reps develop "bench strength" in their customer relationships.

Not understanding the decision-making process: Even veteran sales reps can be timid in inquiring about a prospect's decision-making process and those who may influence the purchase decision. Your time is valuable, and you have every right to ask these questions early on.

Discounting without cause: If discounting is your go-to sales strategy, you're telling prospects you lack confidence in your offering. If you are competitively priced, have demonstrated your value, and have built trust with a prospect, deep discounting shouldn't be necessary. If needed, find a small concession and be sure to explain why you're making it so it is understood this isn't a typical occurrence (e.g., reduction in project scope, investment in future relationship).

Only calling when you need something: Be sure you're not only calling prospects for sales reasons. You're in the relationship-building business and good relationships aren't one-sided. Read the news and follow your prospect's industry. Keep tabs on what their competitors are doing. Or consider inviting your prospect to a networking or educational event that they'll find beneficial.

Assuming you're born with sales skills: Selling is a learned skill. It requires effort, discipline and a lot of practice -- like anything worth mastering. It also requires failure for improvement. So embrace the "no" as a gift toward your development.

Lori Turner-Wilson is an award-winning columnist and CEO/Founder of RedRover Sales & Marketing in Memphis, TN, www.redrovercompany.com. You can follow RedRover on Twitter (@redrovercompany and @loriturner) and Facebook (facebook.com/redrovercompany).

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Lori spent over 15 years leading corporate marketing and communications divisions in the financial services, hospitality and franchise restaurant sectors. As Director of Target Marketing for the Hampton Hotels brand of Hilton Hotels Corporation, Lori managed promotional, direct and Web marketing, as well as custom publishing, for the brand's franchise system. In her role as Vice President of Employee Communications and Development for First Horizon National Corporation, she managed the corporation's internal culture initiatives, communications, and employee recognition programs. Other positions held include Sr. Communications Director/Corporate Editor for TCBY Enterprises, Inc., and Vice President of Marketing for First National Banking Company. Lori is a founding sponsor and member of the Board of Directors for LaunchMemphis -- an organization committed to developing an entrepreneurial community in Memphis comprised of investors, entrepreneurs and local organizations. In addition, Lori is on the Board of Directors of the Sales and Marketing Society of the Mid-South and on the Advisory Board for the Humane Society of Memphis and Shelby County. She is a sought-after speaker in the Memphis area, delivering sales and marketing keynote addresses and workshops to organizations like: the Memphis Chapter of the American Advertising Federation, the Sales & Marketing Society of the Mid-South, LaunchMemphis, EmergeMemphis, the Memphis Regional Chamber, the National Association of Women Business Owners, and the Hospitality Sales and Marketing Association International. Lori holds a B.S. in Marketing from the University of Nebraska, Lincoln, in addition to having completed the University of Colorado's School of Bank Marketing and Management. She is the recipient of numerous industry awards including local and district Addy's, Communicator awards, and a Telly. She received recognition as one of the Memphis Business Journal's "Top 40 Under 40" recipients in 2009. Lori also served as a contributing ghost writer for the renowned "Complete Idiot's Guide to Guerilla Marketing." Beyond her passions for marketing and dogs of all shapes and sizes, Lori is an avid traveler, runner and foodie.