HAVE WE LOST OUR PASSION?

Have you noticed the subtle shift in buying patterns? An interesting consequence of the strange times we live in is emerging and multiplying itself in the hearts and minds of buyers – or rather to be more accurate, just in their minds.  It concerns the difference between “Need” and “Want”. Traditionally we as consumers have bought something we like the look of or the feel of whether it is a nice suit or dress, a house or participation at an event. A ‘heart’ decision if you will.

Let’s take the example of buying a dress or a suit. Whilst historically we might have impulsively bought something that felt good or looked different (stunning / racy / divine or other suitable emotive descriptor) we are now being altogether more practical. Now we tend to consider how future proof the item is, how many “wears” we can squeeze from it, how practical or hard-wearing it is and certainly the price. Spontaneity is being replaced by waiting for the chance the garment will feature in the sale and that risk is becoming more palatable and worth taking now more than at any other time I can remember. The ‘simply-must-have’ item is rapidly becoming a ‘simply-must-consider-if-the-price-drops’ item.  A house you were considering a few years ago that ticked all the boxes you required (4 bedrooms, home office, double garage, hot tub, large garden, views of the open countryside etc) may still have been rejected because it didn’t ‘feel’ right. Now that same shortlist of rejected houses is being re-examined because whilst it didn’t feel great at the time, the price erosion now warrants re-appraising that decision. Is the passion evaporating from our buying decisions?

Let’s consider participation at an event next. The checklist is still there, but priorities allocated to each item have certainly been altered. The great exhibitor party and gala dinner have dropped down the list, networking meetings up a few points; cost has erupted to the top as has value for money and return on the investment.  The ability to justify and quantify spend has scrambled to the uppermost heights. Early adoption and commitment have dropped down a few rungs and waiting for drop out and cancellation opportunities are more eagerly sought. The potential downside of not having a hyperlink and your logo in the pre-show publicity has been replaced by the chance of a late booking bargain – a reckless gamble or is it the new shrewd decision making?  Visitor numbers no longer outstrip demographics in terms of importance and re-usable stands and economy hotels are the new rising stars. I have heard someone refer to their decision as the ‘sensible’ thing to do. Priorities are the new norm and the ‘heart’ is playing second fiddle to the new CEO – the logical and far less emotional head. Be sure to consider the practicalities of participation at your event but don’t forget that if we can have fun and enjoy the process we will still gravitate towards that decision. After all, we know what all work and no play did to young Jack . . .

IS IT LUCK?

I am feeling very buoyant at the moment for I have detected small but significant changes in the economic climate. Specifically I have witnessed a more positive shift in business levels within my on organisation as well as with some of my clients. They are witnessing booking and enquiry levels well up on this time last year and it looks like this upsurge is sustainable. Is this a reflection of the overall economy? Well perhaps although analysts predict this double dip effect which I believe my clients will manage quite well. Why then are they so resilient to the vagaries of economics and different to many?  I suspect it is because they have begun laying the foundations for recovery even before there were financial measures injected into the economy. These brave band of clients were able (and clever enough) to invest in their people when times were hard and their competitors were tightening their belts. They spent money on training and development and set up formalised structures to manage their accounts more efficiently. Their sales teams are now finding leads and taking enquiries and are feeling buffered from what’s going on around them.

 

The most common (and ill-conceived) phrase bandied around by them is: “I was really lucky to get that piece of business”. ‘Luck’ is the key word they are using more frequently today. How frustrating that (a) they cannot see that they make their own luck and (b) had they not called them in the first place there would be no enquiry to process and close today.

 

During a recession clients get used to not calling you or not hearing from you and so when they are ready to book business loyalty sometimes takes a nose dive if competition is fierce. As a result you either have to call all your clients with a legitimate reason for doing so or you risk missing out when the time is right. Are your sales teams jaded and expecting to hear a ‘no’ even before they pick up the phone or are they adhering to good practice and maintaining a dialogue even through the past few months? What we can see is that sales people who are calling having maintained contact with their clients through difficult times are receiving a better welcome and reception from their customers than those who had battened down the hatches, maintained a low profile and are now behaving in an obviously predatory fashion. Likewise those sales people who have had a reminder and refresher on good sales techniques are making greater inroads than their neglected colleagues.

 

The selection and type of objections are changing and so the techniques to address them have changed. What used to work before we dived off that cliff do not all work any more and we need to understand where our clients have been and where they wish to go now. Their internal politics may have changed. Financial directors have probably had more of a say in the recent past and as risk management becomes key to unlocking budgets. Remember that purse strings do not suddenly get released as if nothing has happened. They have got into the habit of managing their money and your sales people need to understand how to unlock that potential and divert funds from their bank accounts into yours.

NETWORKING IS WORKING!

OK so we have all heard the office clichés like “I’m working from home” and “It’s not a piss-up it’s networking!” My question is therefore, “Is it, really?” Done properly, networking is probably one of the most important tools a sales person has at their disposal. Done badly, it is probably one of the leading causes of liver failure!

 

A fact that might surprise you is the sheer volume of networking training courses we are running (and have been throughout the recession). I have to be honest with you and confess that when I was asked to deliver a day’s session on networking I smirked, although I disguised it to the client. How difficult can it be? You just meet up and network. Then came the tricky part -how do you teach something that is predominantly instinctive? Something that you have always done without analysing or even being conscious of the steps involved.

 

Initially set objectives. If you are lucky enough to receive a training course, you may begin with introductions and setting objectives. You may be asked questions like; Who are you? What do you do? Why are you here? What do you want from this session? When networking realise others in the room will be thinking the same; i.e. Who are you? What do you do? Why are you at this function? What do you want from this interaction? So now you have something in common to build on. My advice would be to be genuine and open and be interested in them and their agenda. As in the sales situation, ask lots of open questions. Maximise your listening and don’t interrupt. Use the meeting in much the same way as a bank account. Sometimes you make deposits other times withdrawals. You may have to give telephone numbers and ideas or web links for the first few exchanges but every so often they will give you a lead or the inside track on a particular client or prospect. You are allowed to go overdrawn as many times as you like, but one day you will get something that is more than worth it. Have fun doing it also – it doesn’t have to be clinical or dull. If you enjoy yourself others around you will as well and that is a far healthier atmosphere in which to do business.

 

If you go “with a friend” be careful not to spend all that time networking with each other. Your objective is to learn something new and build your balance up. Just like at the disco-a-go-go on a Saturday night be aware of body language – both your and theirs. You can judge those who do and do not wish to be interrupted and you can make introductions to help you move on. Keep moving is also another good tip. No one wants to be pinned against the wall all evening no matter how fascinating you are! They have also got an agenda so they will probably be grateful of the change also. Finally make notes after the event and follow up. If you say you would do something make sure you do it. Build yourself a reputation and your success is guaranteed.

ARTICLE 6

Q: When is a floor plan not a floor plan? A: When it is a sales tool.

 

Using your floor plan to help with the sales process is one of the simplest and most underutilised tools in the sales person’s armoury. Clients often take comfort in scanning for leading names and those of their competitors as well as location and size of these respective stands. Some are also pedants in terms of where they wish to be located (near to or away from their direct competitors, by the toilets or next to the press office or seminar area). We also know that buyers are visual in terms of buying habits and so we should capitalise on this more. There is also some interesting work being done with floor plans. Think of a low cost or budget airline as a parallel. Think about how they sell their seats. Typically if one books months in advance they offer some lower priced seats than if booked last minute and additionally they offer reduced cost seats for certain routes and at certain times. If you wish to fly back home on a Friday evening that seat will typically cost you more than if you were willing to travel on the Saturday evening for example.  With exhibitors we ALMOST have it right. Many organisers will offer an early bird scheme but then doubly reward them by also giving them a free choice of stands. Could we learn something from the airlines and organise ourselves so that prime location stands are more expensive? Often so called prime locations are reserved or pencilled in for the big sexy name exhibitor who will draw in a crowd or either visitors or fellow exhibitors or both. One organiser at the cutting edge of floor plan strategies negotiated a deal with such a key exhibitor and establishing that visitors would come no matter where the big name was located, proposed a less ‘prime’ location, reduced the rate which pleased the exhibitor and still left the prime locations free for the ‘wanna-be’ big names to pay a premium for. They used these tactics successfully and greatly improved the profitability of their event. The difficulty is that different people have different perceptions about what constitutes a prime location. Some would rather have an island site at the front of the hall whereas others might opt for one that is open on two sides next to the main feature area. Perhaps the solution lies in how we treat the ‘open on one side towards the back’ stands?

Clearly the hardest floor plan to fill is that of a launch event, or when you are at the start of your show cycle. The first bit of advice would be to populate the floor plan with as many ‘knows’ as possible. This might be trade partners, sponsors, associations and possibly the location marked out of any foreign ‘pavilions’. The location of any feature areas, seminar areas, demo areas and press office could all be highlighted. If you then cast your minds back to the different buyer types you will also be able to prioritise where your first bookings are likely to come from. You may be aware that we have identified three main buyer types – Profit buyers, Pride or Prestige buyers and finally Fear buyers. Briefly profit buyers are after ROI (Return on Investment), metric assessment (cost per thousand) and demographic spend. Their decision to participate in an event is based upon numbers, it is fairly un-emotional and would have no qualms about being first (especially if there was an early bird incentive!) on the floor plan. The second category who will populate your floor plan will be the Prestige or Pride buyers. They will be swayed by location, other competitors or big names and the relative size of stands already taken up. Their decisions are typically more emotive and certainly affected by whether the Jones’ have already booked. Next will come the Fear buyers. They are so scared of risk that rather than take a risky decision they would rather not make one at all. They will be the next category to sign up as they will be swayed by a fuller floor plan. It’s not so much a case of ‘keeping up with the Jones’’ as much as ‘If it’s good enough for Jones then it’s safe enough for us’. Beware though that the story is not over – there is a final category that will try to slide onto your floor plan at the last minute. The Profit buyers will rear their heads again. They will have been waiting in the hope that you would rather sell them a stand at a knock down price at the last minute rather than suffer an empty space at your event. They can be a blessing or a curse depending upon how well you sell using your floor plan.

NEGOTIATION TIPS

I thought that it might be useful this month to share some outputs from a Negotiation Skills workshop delivered recently. The objectives were twofold; firstly how to resist pressure from clients demanding discounts and secondly how to maximise deals when buying on behalf of your company. Top line is that strategies have changed recently and will continue to be affected by the remnants of the recession. Whilst financial controllers may be losing their grip in the boardrooms, buyers have developed a habit of asking for discounts and the better ones demanding extra value for their budgetary spend. That is critical because in many instances we know that once we progress the sale to the point where money is discussed, it’s time for them to start to negotiate.

 

There are a number of tips that may help you defend against this and hopefully protect your margins. The key is preparation – identify your highest and lowest limits and aim high and expect the best. Put yourself in their shoes – what type of person are they and what would they consider to be a satisfactory deal? Plan your initial stance carefully and set the ‘atmosphere’ you aim to generate maybe by indicating how few stands are left or how popular speaking slots are. Get them to reveal their shopping list before you reveal yours and extract all the points they want to negotiate before you negotiate any of them. As a rule of thumb, never give a concession, trade them, (reluctantly, preferably at a profit) and justify each one. Remember generosity is not contagious – it is often seen as a weakness to be exploited. Keep the whole package in mind all the time and keep searching for variables. Examine the concessions you usually make in your business and be sure you have stressed the worth of each – there is no point granting, say, a hyperlink to your web site if they fail to see the true value and worth of this variable. Learn how to defend yourself by raising the value of what you offer and reduce the worth of their concessions in return. Also be sure to make them work hard for any concessions – people place a greater value on things they have had to struggle to get so be stingy and play hard to get.

 

Think carefully about deadlines – he or she who has time on their side has a powerful ally. Make offers conditional upon early commitment or payment terms. Do remember that it is not personal – you are employed to do the best deal you can for your company – so are they for theirs.

 

The mantra is Love the person – Hate the deal! Let them feel that they have done the better deal despite the fact that you are a good negotiator. It is also a useful strategy to summarise clearly and often – his reminds them of progress, value and worth. It also is a proven strategy to avoid confusion and avoids the moving goalpost syndrome! Finally do make sure you keep the door open completely, even if negotiations appear to have failed. Time is a wonderful thing and situations do change in some cases as quickly as overnight. So long as they can save face and re-approach you (or the other way round) there is always the possibility of future business or additional revenue coming in.

NETWORKING IS WORKING! PART II

Whilst meditating this month’s article and awaiting the muse to settle upon me, I had an e-mail from one of my delegates. He was involved with an account management programme and despite following all the rules on the phone and by e-mail felt he was getting no where fast. So he thought, ended that story and the account in question relegated to the amorphous database for a new recruit to revive in a few years’ time.  He attended an unrelated client event where his agency provided the after dinner speaker and band to ensure his ‘talent’ was well received and to make his client feel loved. During the course of the networking session prior to dining he introduced himself to a random gentleman who was nursing his glass in a corner of the room and struck up a conversation. This wine drinker appeared very friendly and proceeded to invite my delegate to join him for dinner at his table. As my delegate would ordinarily be housed at the back of the room (behind a pillar) he accepted enthusiastically. He was further surprised when it emerged that the table in question was slap bang in the middle of the room just in front of the stage. Feeling honoured and more than a little surprised he gingerly engaged his new host in conversation and went through the usual gamut of exchanges; who are you, what do you do and so forth. By an amazing twist of fate, the wine drinker turned out to be none other than the chief executive officer from the hitherto relegated account, who amongst other things was lamenting the fact that his wife was having a birthday party soon and he was looking to book a band for her bash. . .

 

Now the question is, was that luck, coincidence or further proof that networking is alive and well and yielding the results that had thwarted previous attempts at account management?  The older I get the more I have come to realise that business is not just about the application of rules or formulae. It is a combination of good practice, being personable and distribution or exposure. It is increasingly clear that there are patterns if you look for them. A certain gentleman (who used to work for a well known trade association) was often ridiculed by his colleagues and bosses for having the reputation for ‘attending the opening of an envelope’.  What I will say in his defence is that he was utterly successful in delivering the results he was charged with. He might not have had the best sales techniques in the world, his interpersonal skills might at times have been suspect, his telephone manner may have been interpreted as quirky,  but his distribution / exposure rating was first class. Now that we are constantly assured to be well on the road to financial recovery are we ‘getting amongst it’ and using all the tools in our armoury? Open your mind and think beyond the phone and e-mail funnels.

SOCIAL STYLE POLICE!

I was very encouraged to read that Her Majesty’s Constabulary have and some still are, in the process of being trained. This time it is not about formation baton charges or student kettling. They are learning about human behaviour in much the same was as us sales people do. In fact the latest initiative is to do with social styles.  Regular readers may recall an article I wrote concerning Character Styles, where I outlined four main styles – (1) Drivers, (2) Expressives, (3) Amiables and (4) Analytics.

The police version purports to ‘classify’ or more accurately typify the behaviour of the general public using four ‘social’ styles named after four high profile figures in order to help understanding and presumably retention. These four styles are referred to (in the same order as my nomenclature above) as (1) Madonna, (2) Lenny Henry, (3) Lorraine Kelly and (4) Jeremy Paxman. The premise therefore is that we are all made up of a combination of the above personality styles and our behaviour therefore is encapsulated by these celebrities.

 

In a sales environment, the Madonna wants to be in control and with a short attention span wants results quickly. They do not have much time for pleasantries, rather preferring to get the job done and move onto the next task. They are very competitive and are not looking for friends – simply results. The altogether more effervescent Lenny Henry will respond to praise and adulation. They have a need to ‘hold court’ and impress with their wit, brilliance and generally love the limelight. They will jump around (physically and intellectually), getting bored easily and all their efforts are to hold the spotlight and be the focus of attention. If you encounter a Lorraine Kelly on the other hand be prepared for a people person, soft, gentle and kind. They are always looking for benefits to people and not the organisation or shareholders. Mood and ‘feelings’ are the main focus and whatever your personal views of this namesake, they are generally nice people. Finally they learn about the Jeremy Paxmans of this world – the ordered, logical almost robotic personality types. They are much more even (almost monotonous in speech pattern) and obsessed with detail, proof and evidence. It is a black and white world they live in and there is no place for grey (unless it has an according pantone number associated with it!).

 

The commissioners believe that this social styles approach will aid interaction and generally improve relationships with the general public and their officers. In a sales environment I would suggest it is no different. Next time you are on an appointment wheel out your ‘template’ and identify which style you are selling to. Make sure the Madonnas get what they want and quickly, avoiding detail and giving them the edge on control. With Lenny Henrys flatter them, avoid criticism and use their enthusiasm affording them a better stand location or more prominent logo on your website. With Lorraine be sure to relate the benefits of attending your event not in terms of ROI but in terms of how much easier it will be for their people to interact with their clients. Finally with Mr Paxman be sure to provide copious quantities of detail in advance of the meeting and be thoroughly prepared to answer any questions in terms of factual evidence rather than hearsay. Good luck – it’s a celebrity jungle out there!

SPREAD YOURSELF ABOUT!

At the recent industry conference I was interested to note how businesses have a multitude of options for increasing sales.  They include (although not limited to) launching new events, spin offs, geo-cloning, partnering, digital as well as mergers, acquisitions and non-core services like sponsorship, conferencing and consultancy. It was also interesting to note how many marketing activities were interrelated; for example writing a blog will boost your on line ranking due to the ‘magic’ of technology. The power of Google and other search engines means that in this age of impatience, potential customers will not scroll through pages and pages of entries until they find you – if you do not ‘own’ the first page of a search, it is likely someone else will get the enquiry. So businesses are encouraged to write blogs, include video, images, press releases and a whole gamut of tricks to dominate a search and accordingly boost their worth.

 

I couldn’t help wonder therefore whether individual sales people are maximising their own value. It is clear that some are more high profile than others and the skill sets required of the modern salesperson are no longer limited to the telephone or the occasional face to face encounter. I have written before about the merits of effective networking and how opportunities are often derived from such superficially innocuous events.  How about we cast the net a little wider and adopt some of the lessons we see in business?

 

How do you use social networks? Are they purely social so you can stay in touch with friends and family or do you widen the appeal? How about LinkedIn and the raft of similar social media sites – do you have a presence on those and are you maximising each opportunity? Do RSS feeds and Twitter leave you cold or do you utilise them for more noble purposes than cursing that you have missed your last train home and ranting about some very clever but rather pointless hobby horse? Do you set up or join groups that have something to do with your areas of expertise and interest or would you say, like most of us that you ‘lurk’? Do you read the updates with interest and thirst or do you feel that they are a new form of spam?

 

Then there is the whole area of self-development and learning. When is the last time you attended a function or course to learn something new or attempt to gain new skills or grow your brain? It’s all too lame to be too busy and set another breakable New Year resolution or wait until the company conference or next team away day. If your car is essential to your business or livelihood then the chances are that you service it regularly, top up the air pressures and ensure oil and water, coolant and ‘squirter’ fluids are all taken care of. You will check your lights and manage the occasional wash and spruce up.  Well on that premise, your skills and your motivation I would argue are even more central to your future livelihood and income. When is the last time you challenged yourself or adopted a new set of habits or re-visited the old ones to hone them, eradicate the bad ones and added some new ones? Sobering thought perhaps or call to action?

ARTICLE 5

As a broad rule the larger the show the harder it becomes to find what you particularly with shell scheme stands when on a budget.   Many organisers do a great job in colour-coding zones or areas, which helps but you as the exhibitor are not entirely helpless. When is the last time you thought about how else you could brand yourselves at the event to reinforce your presence?  Did you just restrict yourself to a banner or sponsoring the carrier-bags or the ‘You-are-here’ boards?

As organisers compete to add value there are a whole range of possibilities that are available for branding and sponsorship – not all may be suitable but no doubt some will suit you perfectly.  Consider the following:

 

Accommodation Plans Aisle Ways Awards
Badges Balloons Banners
Barriers Car Parking Carrier Bags
Catalogues Catering Catwalks
Cloakrooms Coaches / Buses Coffee Areas
Conference Sessions Crèche Cups
Data Collection / Capture Delegate Folders Demo Areas
Entertainment Event Parties Exhibitor Lounges
Exhibitor Manual Fashion Shows Floor Plans
Floor Tiles Freebies Guides (what’s on etc)
Light Pens Lists Lounges (VIP/ Press)
Menus/ Meals PR Opportunities Press Office
Preview Days Seating Areas Services (Phones etc)
Signage Toilets Venue Posters
VIP Tickets/ Passes www/ wifi You are Here boards

 

The list is not exhaustive but the possibilities are endless – limited only by your imagination and the health and safety police!

A good tip is to visualise the target visitor on his or her travels through the event.  Are they arriving by car and will parking be an issue for them? They may need to deposit their coat or bags and then get a coffee before looking for a seating area to plan their route.  They may need to use the toilets and at some point probably will stop for a snack.  If they have other interests you can predict those too and identify their possible stopping routes where they can see your name, logo and even a reminder of your stand number.  The calculation on spend should be easy to do.  Calculate the value of a new client and your conversion rate – if the organiser hasn’t offered a branding opportunity it may be they haven’t thought of it so make them an offer. Most of the opportunities mentioned above are not set in stone so be prepared to negotiate – it may be you have something like a membership list or client data that they would also consider as a viable trade. Remember that research shows that repeated exposure (6-7 times) is often necessary to drive home your message and build your client base.

ARTICLE 4

Organisers are simple creatures. In the main they love what they do but they love making money even more. They will sell you whatever you want at whatever price you can manage. Not an indictment just a truism. They also want you to be happy because if you are satisfied you will re-book and ergo more money. They also like visitors – lots of them – and of the right demographic make up. So that’s them. Now what about you – the exhibitor?

 

You are more complex. In the main you love what you do and you like financial reward. You will exhibit if you know you will get a decent return on your investment. You also know you need visitors again of the right demographic and quantity. So . . . it appears we have some common ground. So how can we work better with them in order for everyone to benefit?

 

Well as the expert in your market, you will know whom you wish to target. Ensure the organiser is hitting those targets and if not suggest media, lists or other ways of accessing that stream of potential visitors. You may have a membership list, customer database or belong to some association who can access them. Organisers will be only too happy to mail that list on your behalf – often by personalised mailings. Do you have any innovative products or services that lend themselves to demonstration or are they impressive enough to be a crowd puller in their own right? Organisers are constantly on the look out for crowd pullers and pleasers. Could your product become a feature are within their event? In exchange you get the publicity and possibly a sampling opportunity or a data base share. Can your products be used as a prize – a grand draw or competition that will give you huge publicity for the price of a single unit?

 

Think about your ‘little black book’ of contacts. Do you know a celebrity or member of royalty or parliament or any other notorious figure who could open your exhibit or launch your product at the show? Work with the organiser to see how you can benefit from pre-show publicity and on going kudos throughout the event.  Is there anyone in your organisation who is a recognised authority or name in your field who will speak and present at the event. Organisers need good content and good speakers to engage with their visitors and attract them to the event. It may be you have a sales team or distributor network that could disseminate tickets on behalf of the organiser in exchange for your branding on them.  The rule of thumb is what have you got that is cheap to offer that an organiser would value and what have they got that is valuable for you to receive that costs them little to provide. Then swap!