Archive for the ‘Marketing’ Category
Theoretically, you could walk into a Best Buy store and buy a Sony flat-screen TV. The location of the store really doesn’t matter. The salesperson who helps you shouldn’t matter, either. And THAT . . . is a big reason why Best Buy refers to the people it serves as ‘customers’ and not ‘clients’.
It’s a Matter of Balance
When the solution being sold is more or less understood and tangible in nature — like a flat-screen TV is a ‘solution’ to not experiencing the Super Bowl in an exciting manner — it’s easy to see that buyers of that solution are more likely to be viewed as ‘customers’ than ‘clients’.
But when the solution being sold is more reflective of the applied expertise and insight of the provider of a problem-solving service — like the physician counseling her patient in the above image . . . then the relationship is less ‘customer’ and more ‘client’.
Advisors . . . Have Clients, Not Customers
When a solution requires an accurate assessment and expert insight into the buyer’s needs and situation . . . as well as the technical aspects of the solution being rendered . . . the relationship is decidely more ‘client’ than ‘customer’.
Consider the fact that if you were about to undergo a surgical procedure, you might be unhappy if you discovered — as you’re being wheeled into surgery — that your regular doctor had to leave on a personal emergency and ‘some other’ doctor would be performing your surgery. Granted, the ‘other doc’ is licensed by the state to practice medicine and has staff privileges at the hospital but the fact that you don’t know WHO this replacement doctor is . . . might be unsettling to you.
KEY POINT:
It’s your personal relationship with someone — as well as the technical expertise of whatever solution you offer — that makes you an advisor. And the people who seek you out for the solutions they want and you offer . . . are clients rather than customers.
There’s an old joke that goes like this: Two affluent ladies are meeting for lunch. One of them, who’s about to have her home remodeled with a professional decorator, asks the other, “What’s the difference between a bathroom with a motif and a bathroom with a theme? Her friend, who’s been there / done that before replies, “About $20,000″.
Being a Trusted Advisor vs. merely being an expert in your field — is kind of like that, too.
“Trusted Advisor”
This term is so overused, it’s become a cliche. But there is serious financial benefit and value in being seen as one regardless of the professional field you happen to be in — law, accounting, financial services, consulting, etc.
Relationship vs. Transactions
Advisors who earn the professional regard and respect of their clients are truly different from other vendors offering the same problem-solving expertise but without a deeper relationship in place. Being in the right place at the right time with the right answer will probably suffice to generate a transaction with you.
Being a preferred provider — being someone whom a client would, all things being equal, prefer over others is probably the only sure way to operate profitably and productively over the long haul. Why? Because almost any thing a competitor in your field can offer a client creates a level playing field. That removes the competitive distinction between you and your alternatives. So what’s left? The unique relationship YOU offer a prospect or client.
In future posts, we’ll be exploring more about this opportunity to differentiate yourself in the eyes of your prospects and clients by becoming (or, more effectively communicating!) that you are a Trusted Advisor and . . . a Preferred Advisor, as well.
KEY POINT:
Experts who solve problems are going to get sales. Experts who solve problems and build relationships are going to get clients.
The fourth function in your client development process is . . . CONVERTING.
Some call it ‘Selling’ or ‘Closing’. It’s critical to the ultimate outcome you’re seeking — i.e. to go to your bank with a lot more more money than you’re putting in there now.
I just returned from a business trip from the west coast. It was a long flight – over 4 hours. Apart from occasional turbulence, nothing exceptional. Now we’re on ‘final approach’ to land. Seatbelts fastened. Check. Tray tables in their upright and locked position. Check.
About 50 feet off the runway, a gust of wind hit the aircraft and almost put one wingtip into the runway. Fortunately, the pilot recovered (Thank God!) control and the landing continued ‘as planned’. But what if, in the last 10 seconds of the flight, the pilot ‘lost control’ of the landing? The entire flight would have been deemed a ‘disaster’.
Selling is a ‘Mission Critical’ Function
Converting qualified opportunities into realized revenues is what really brings closure (no pun intended!) to your Client Development System. It’s the last ‘key piece’ of the puzzle that makes it possible for you to go to your bank. So you must do it as effectively as each of the three (3) previous elements — Fueling, Qualifying and Cultivating.
Use a SYSTEM!
If you have a business function that is needed repeatedly, done routinely and produces results that are critical to your success . . . please . . . don’t ‘wing it’. Do it by design, not accident. Otherwise, you’ll get the results you want sporadically and erratically instead of consistently and conscientiously.
KEY POINT:
If you’re seeking to gain the skills and attitudes needed to be effective at converting opportunities into revenues, I highly recommend you find a good sales training organization or coach and work on building the skills and attitudes you need to be effective in this key function. (Psst — if you need a good recommendation . . . call me! 860-798-6964)
