Grow Your Training Business

What's Your SIgn?

A dating service in southern California saw a significant decline in new enrollments as the housing market weakened in that area. The response rate fromt heir direct mail campaigns was dropping, so they had fewer prospects. And their closing rate on actual sales presentations was also dropping. "It was a combination of not having as much disposable income, and some singles not feeling like they were great 'dating material' since they were not as flush with cash as they used to be," says Kristing Gardner, a top sales associate for the service.

Her solution? First, she adjusted her sales presentation to add more justification for the cost of the service. "I gained their agreement that when the economy os difficult as it is now, every dollar has to be spent wisely. Then I started using a new term, referring to 'Dating ROI' and walking prospects through a comparison of their typical investment in dating through the bar scene or randomly meeting people, contrasted with an investment in our service. Including the costs of the actual dates, a typical comparison shows the individual who invests in our service spending about 10% more, but easily having 200% more actual dates."

Kristin also found a way to re-frame an individual's potential concern about not being a good dating prospect for others if their finances were somewhat restricted. "I asked them directly if they were looking for someone who saw them as just a bank account, or if they were looking for a full, authentic relationship. I mentioned that some of our wealthiest clients actually pretend to be somewhat financially challenged because they want to avoid anyone who is too focused on money."

Once Krstiin began addressing these issues with every prospective client, her closing rate popped right back up to where it had been before the economic downturn. When her sales manager noticed the upturn in her results, he began to have the rest of the sales team adopt her method. Again, their closing rates returned to normal.

So this helped to improve their closing rate, but they still had to deal with the fact that they were seeing fewer prospects. So they adjusted the message in in their direct mail advertising. "When Every Single Dollar Counts" was the tag line of their new campaign, and they adjusted the message to speak directly to singles who might be having economic challenges. After these adjustments, they saw a significant increase in their direct mail response rates.

Lessons learned:

• Put yourself in the (uncomfortable) shoes of your customers to fully understand what they are thinking and why they aren't buying at the same rate they used to. Hint: it is usually more complex than just a lack of money. 
• Then find ways to directly confront their concerns, or re-frame their worries. Not with "spin" or clever/tricky phrases. But with direct and substantive conversations.
• Provide a logical framework to help them justify the dollars you want them to spend.

Creating Growth During Tough Times

During the economic free-for-all of the past 12-14 months, many companies consider themselves successful if the "open" sign still glows. But undoubtedly, conditions will improve just as they historically have, and it will be those companies who seize the opportunities inherent in the current conditions, and position themselves for future growth, that will dominate their markets in the future.

Two core strategies can help position your organization for growth now and in the future.

1. Close the back door - retain your current business.

Retain your current employees - especially those who are most productive. Employee turnover losses can cost a company more than $100,000 per mid-level employee when costs such as recruiting, interviewing, hiring, training, and lost production are calculated.

Retain traditions and culture - the essence of what made you who you are today.  There are many key reasons why a company is successful, and often it's the core values, company culture, and other differentiators that are undoubtedly important, yet don't appear in a product catalog.

Retain retain your customers. It's much easier and more cost effective to retain a customer than win a new one. Additionally, the longer you keep your customers, the more you set their expectations and cement your company's image as an industry leader.

Research shows that it's five to six times more costly to gain a new customer than retain an existing one, making it absolutely critical to retain customer during a recession.

Remember that outside of a quality product or service that's delivered on time, the single most impacting tactic you can employ to retain customers is to reinforce your company's position, along with the sound business reasons why the customer chose - and is continuing to choose - doing business with your company.

2. Open the Front Door; Develop and Grow.

Develop your employee's knowledge and skills. Help them become more effective at what they do. Provide every employee with training specific to his or her position. Gain new people that bring talents that don't exist today. Partnering the talents and ideas of 'fresh thinkers' with your proven talent is a solid success principle.

Grow the number or products and services you provide customers -  As you serve your customers, you can partner with them to fill their needs. And as you move closer to partners than suppliers, you can add even more value by anticipating your customers needs before they even realize them, and then filling those needs as a course of your service. Such forward thinking and a customer-first approach makes you a highly-prized consultant - and partner - one not easily let go.

Grow your top line - This might be the most challenging of the recommendations, but it can be highly impacting. What typically happens during tough economic times is that company's become misers, and focus solely on protecting the bottom line. The true leaders will view such tactics by competitors as an opportunity, and invest in their company's ability to exploit the economic upturn when it assuredly occurs.

Gain new ideas for products, services and offerings that don't exist today by engaging your customers. Your company should always be anticipating your customers' needs and asking each directly, "What else could we do to help you achieve your objectives?"

Accordingly, anything that a company can do to retain their people, grow their knowledge, and gain new people, the more likely they are to have stronger relationships with their customers and become an industry leader.

Growth During Tough Times

<p><span style=3D"FONT-SIZE: 12px; FONT-FAMILY: = Arial">During&#0160;challenging economic times,&#0160;many = companies consider themselves successful if the &quot;open&quot; = sign still glows. But undoubtedly, conditions will improve just as they = historically have, and it will be those companies who seize the = opportunities inherent in the current conditions, and position = themselves for future growth, that will dominate their markets in the = future. </span></p> <p><span style=3D"FONT-SIZE: 12px; FONT-FAMILY: Arial">Two = core strategies can help position your organization for growth now and = in the future.</span></p> <p><strong><span style=3D"FONT-SIZE: 12px; FONT-FAMILY: = Arial"><font style=3D"FONT-SIZE: 9pt">1. Close the back door - = retain your current business.</font> = </span></strong></p> <p><span style=3D"FONT-SIZE: 12px; FONT-FAMILY: = Arial">Retain your current employees - especially those who are most = productive. Employee turnover losses can cost a company more than = $100,000 per mid-level employee when costs such as recruiting, = interviewing, hiring, training, and lost production are calculated. = </span></p> <p><span style=3D"FONT-SIZE: 12px; FONT-FAMILY: = Arial">Retain traditions and culture - the essence of what made you = who you are today.&#0160; There are many key reasons why a company = is successful, and often it&#39;s the core values, company culture, = and other differentiators that are undoubtedly important, yet = don&#39;t appear in a product catalog. </span></p> <p><span style=3D"FONT-SIZE: 12px; FONT-FAMILY: = Arial">Retain retain your customers. It&#39;s much easier and = more cost effective to retain a customer than win a new one. = Additionally, the longer you keep your customers, the more you set their = expectations and cement your company&#39;s image as an industry = leader. </span></p> <p><span style=3D"FONT-SIZE: 12px; FONT-FAMILY: = Arial">Research shows that it&#39;s five to six times more costly = to gain a new customer than retain an existing one, making it absolutely = critical to retain customer during a recession. </span></p> <p><span style=3D"FONT-SIZE: 12px; FONT-FAMILY: = Arial">Remember that outside of a quality product or service = that&#39;s delivered on time, the single most impacting tactic you = can employ to retain customers is to reinforce your company&#39;s = position, along with the sound business reasons why the customer chose - = and is continuing to choose - doing business with your company. = </span></p> <p><span style=3D"FONT-SIZE: 12px; FONT-FAMILY: = Arial"><strong><font style=3D"FONT-SIZE: 9pt">2. Open the = Front Door; Develop and Grow.</font> </strong><font = color=3D"#000000"> <p></p></font></span> <p></p> <p><span style=3D"FONT-SIZE: 12px; FONT-FAMILY: = Arial">Develop your employee&#39;s knowledge and skills. Help = them become more effective at what they do. Provide every employee with = training specific to his or her position. <font = color=3D"#000000">Gain new people that bring talents that = don&#39;t exist today. Partnering the talents and ideas of = &#39;fresh thinkers&#39; with your proven talent is a solid = success principle. </font></span></p> <p><span style=3D"FONT-SIZE: 12px; FONT-FAMILY: Arial">Grow = the number or products and services you provide customers -&#0160; = As you serve your customers, you can partner with them to fill their = needs. And as you move closer to partners than suppliers, you can add = even more value by anticipating your customers needs before they even = realize them, and then filling those needs as a course of your service. = Such forward thinking and a customer-first approach makes you a = highly-prized consultant - and partner - one not easily let go. = </span></p> <p><span style=3D"FONT-SIZE: 12px; FONT-FAMILY: Arial">Grow = your top line - This might be the most challenging of the = recommendations, but it can be highly impacting. What typically happens = during tough economic times is that company&#39;s become misers, and = focus solely on protecting the bottom line. The true leaders will view = such tactics by competitors as an opportunity, and invest in their = company&#39;s ability to exploit the economic upturn when it = assuredly occurs. </span></p> <p><font color=3D"#000000" face=3D"Times New Roman"> <p><span style=3D"FONT-SIZE: 12px; FONT-FAMILY: Arial">Gain = new ideas for products, services and offerings that don&#39;t exist = today by engaging your customers. Your company should always be = anticipating your customers&#39; needs and asking each directly, = &quot;What else could we do to help you achieve your = objectives?&quot; </span></p> <p><span style=3D"FONT-FAMILY: Arial Unicode MS"><span = style=3D"FONT-SIZE: 12px; FONT-FAMILY: Arial">Accordingly, anything = that a company can do to retain their people, grow their knowledge, and = gain new people, the more likely they are to have stronger relationships = with their customers and become an industry leader.</span> = </span></p></font> <p></p> <p></p> <p></p></p></p>

Good Articles - Sales Planning

If you are building a coporate training business or professional coaching practice, even if "sales planning" isn't one of your natural areas of expertise, you can't afford to not be familiar with the principles of strategic sales planning. The articles listed below will give you great tips and insight to help you grow your business and also have a better understanding of the planning processes that many of your client organizations are using.

• Free content articles directory site where authors can publish their free-reprint articles to article hungry readers, webmasters, ezine operators, ... Read  Sales Plan Articles at Free Articles ArticleSnatch Article ...
• After talking with party plan consultants, individual party plan business ... Tags: direct sales, party plan, home party demonstrations, home party business ... Read  Party Plan Consultants Articles at Free Articles ArticleSnatch ...
• The need for a sales and marketing plan to address education, building relationships, and communication will generate increased business for the Loan ... Read  Marketing Communication Plan Articles at Free Articles ...
• Now is the time to rethink you're approach and develop a plan that gets results. If your strategic sales action plan isn't implementable and quantifiable ... Read  Sales Funnel Articles at Free Articles ArticleSnatch Article ...
• ... to understand what they are expected to do. They will have a clear idea about how to proceed in order to meet the target. While writing a sales plan it would be better for you to mention some strategic objectives at the beginning of the ... Read Writing A Sale Plan Is An Art
• ... and THAT'S how you get the job offer. Peggy McKee is the Sales Recruiter. Her website, http://30-60-90-day-sales-plan.com/, offers tips and advice on the highly successful 30-60-90-day plan for interviews, and also provides other insights ... Read How using a simple 30/60/90 day sales plan can get you multiple job offers!
• ... that you always have. It's time for change. It's time to reinvent both yourself and your approach. Develop a new plan of action. You must get started now! Why are you still sitting there watching TV? If you are, you may be like one of Seth ... Read Is Your Sales Plan Viable This Year?