McKinsey: How can businesses use Web 2.0?

McKinsey Quarterly, in one of their recent survey reports tells how businesses are using Web 2.0, or want to use it. As always, their survey is very well presented, and most points are valid. Now, here are our notes from it for you:

Over 75% executives who responded to the survey intend to maintain or increase their investments in Web 2.0 technology trends that encourage user collaboration, such as peer-to-peer networking, social networks, and Web services.

The report also talks about some executives wanting to these technologies for a sustained competitive edge.

Now, in our view, while ‘sustained competitive edge’ is unlikely by any people driven Web 2.0 technology, it is already bringing benefits and profits for those early adopters who are able to understand what to do.

For example, are you able to use your websites to pre-sell your services? Or are you collecting enough information from your online clients and prospects? Or do your teams collaborate enough, and also keep client in the loop?

All these things can earn more revenues while reducing costs = more profitability. And this isn’t not some textbook equation…it’s happening already!

So if you haven’t got a clue where to start in your business, contact us, and we will show you at least 2 ways to rapidly benefit.

Sales Coaching – How to Successfully Follow Up

When I accompany sales people on their appointments in my capacity as a sales coach, I very rarely see the follow up used as a sales tool. However, I have witnessed two extremes of sales follow up technique that left me cold.

The first was immediately after the sales person had finished the presentation of the price and received a polite, “We’ll have to think about that, it is more than we anticipated paying.” The negotiation was based on discount which still was not bringing the price down to the customer’s expected price level.

The sales person then packed his things and stated that he had to call his manager to tell him how the appointment had finished. You can see it coming … the manager then wanted to talk to the customer and, blow me down with a feather, more discount was offered to close the sale. This technique actually turned the customer off so much that I could see the anger in their face. Something the sales person missed!

What a shame that the only selling skills available was based on discount rather than understanding the customer’s perceived idea of value for this particular product.

The other extreme of follow up was used by a sales person selling kitchens and, at the end of the fruitless presentation, told the customer that he would call in a few days having given them time for thought about the purchase.

What made it worse was the statement, “I have to follow up every call or my manager has a go at me and after a certain period the system takes the lead back and I get nothing.” I don’t know if this was the “sympathy sale” close technique!

The follow up call was made a few days later with this, less than effective, telephone call. “Hello, this is … from … (names withdraw). Have you thought about the price any further, or what other thoughts have you had.” I’m not sure I need to comment on the quality and substance of this follow up call because it is so similar to many I have witnessed in the past.

Here are some tips on how to make sales follow up calls more effective.

 

  • Make an appointment with the customer for the follow up; what day, morning or afternoon, what phone number.
  • Agree what the subject of the call will be about; not just asking about if the customer has thought more about the purchase.
  • Have another reason for the customer to buy; but ensure this reason has a customer based benefit, not just the offer of another discount.
  • Have a progression plan for what happens after the follow up call; many sales people just continually use follow up calls as their method of keeping a sales prospect “live”.

During my Follow Up Workshops the delegates discover different ideas on how to make their calls more effective. Many find that creating a rough script helps to put some structure to the calls. Delegates also coach each other in how the call sounds from a customer’s point of view. Many have reported an up-lift in conversion ratios after implementing a properly thought through sales follow up process. 

Telephone communication for follow up and sales prospecting is a science and I am amazed at how many call centre and sales operations get it so badly wrong. Many subtle messages can be delivered through a well planned, non-visual conversation but this needs to be set up well in advance – even at the point of first contact with the prospective customer.

Ian D Ludlow helps sales and customer service people and organisations in the business-to-business, direct sales and retail environments to improve their current performance.

As a Master Practitioner of NLP and Accredited LVT Practitioner, he uses fun and creative techniques to change unproductive behaviours and to help individuals and teams THINK FASTER and REACT QUICKER to ever changing market conditions.

He states, “If you carry on doing what you’ve always done, you’ll always get what you’ve always got.” Ian’s specialism is knowing what to change and how to change it with minimum effort and maximum return.

Ian helped improve the average sales value for a retail business by 14% which added £34M in sales revenue over one year from 320 stores. He also helped increase the sales conversion ratio by 7% through quality sales training and lead generation programmes for a kitchen and bathroom installer; increasing sales by £24M over one year.

Ian D Ludlow can be contacted on +44 (0)1795 55 56 83 whilst his website is under construction.

Article Source: http://EzineArticles.com/675666

Why Sales Deals Stall?




If you are into any forms of customer interaction or sales, you will benefit from this interesting sales training video by Dan Lappin of Caskey Training, where he shares “why sales deals stall”. It’s just 6 minutes long and worth watching full. You’ll learn three sales strategies that can improve your ability to control the sales process, improve your credibility, and will have your customers pursuing you. This video has been popular with audience at Myorbit from the time we started last year in 2006. So thanks very much to Dan Lappin.

Google YouTube roadmap converging with MyOrbit

Thanks for visiting MyOrbit.tv – we are in the last leg of our security enhancements and plan to be live again soon. Last week, we got one of the best testaments so far of the path we are taking for MyOrbit.tv

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Here’s a brief from the editor of DailyTech Rag newsletter (it’s got about 50k subscribers worldwide)

When you think of YouTube in the enterprise, you probably think of that common quandary many IT departments face: to block or not to block? However, if Google has its way, the decision organizations may soon have to weigh is whether or not to deploy YouTube. BusinessWeek reports Google “is preparing a corporate version of YouTube to create videos for training and employee communications.” Say what? Strange as that might sound, an internal enterprise version of YouTube makes a lot of sense. YouTube makes uploading videos to a web server so simple just about anyone can do it and the playback interface is something practically all Internet users are familiar with. Sure, your organization may not use online video at the moment, but the potential for internally distributing training videos, corporate communications and PR is too great to ignore. While there is currently no timeline for the delivery of the enterprise version of YouTube, it is expected to arrive bundled-in with the next revision of Google Apps.

For more on enterprise YouTube: see this BusinessWeek article

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This is my analysis of the planned Google offering. It is a software tool, whereas we offer a business service. My simple analogy is this: Google offering is like a projector with which you can make presentations, and ours is like a projector plus different presenters plus diverse professional audience, so it’s an online business conference. No doubt, Google Youtube Enterprise version will compete on a small front, for some cases of intra-company knowledge sharing, ie., where they only need the projector!

What does it mean for MyOrbit? It means our roadmap for applying new media to business is the way to go. And it also means that we need to increase our efforts to build the community of professionals and businesses using MyOrbit.tv. Stay Tuned!

cheers/ Shankar AVSB for MyOrbit