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TUESDAY NOVEMBER 27, 2012               A WEEKLY E-NEWSLETTER COMPILED BY SAM GEIST

MARKETPLACE LESSONS

This past Sunday evening Canadian football fans celebrated the 100th Grey Cup game (similar to the SuperBowl) played between the Toronto Argonauts and the Calgary Stampeders.  It was a sellout crowd as fans across the decades of yesteryear came out to remember all the glory of Grey Cup games of the past. There was a lot of hype, there was a lot of excitement and there was a flashy half time show.

After a song by Gordon Lightfoot for all the folksong lovers in the audience (and at home), Justin Bieber took to the stage. The boos from the audience were palpable.  Why? He's one of the most popular young singers across the globe.  All teeny boppers know and love the Biebs.

Could it be that teeny boppers don't attend the Grey Cup?  Could it be that this entertainment would have been perfect if they were the audience?  But they weren't.  Organizers (just like marketers) need to look realistically at who their audience is rather than looking exclusively (and perhaps longingly) at who they would like their audience to be in order to garner applause (and customers).

LESSON LEARNED:  

"Know your audience, who they are and what they really want." 
--Sam Geist 
THE STATS

The accelerated speed of communication and our ability to access information almost instantly is changing the way we buy and sell. We now make many of our buying decisions without ever talking with a salesperson, but when we do need to deal with a salesperson, statistics reveal that 70% of a customer's buying decision is made before the customer even starts that conversation.  (Eric Berridge, Co-Founder of Bluewolf)

Today's successful salespeople need to be bright, empathic, versatile, curious, flexible and able to connect with clients, both in person and virtually. 
  • Fewer than 50% of salespeople possess these essential qualities.
  • Nearly 50% of the companies today say that they need to improve their ability to consistently hire salespeople who succeed.
  • Nearly 50% of the firms surveyed reported that it takes in excess of 10 months to get a new salesperson to full productivity (defined       as new reps generating the same amount of revenue as experienced reps).  

 

--Herb Greenberg and Patrick Sweeney/Jim Dickie of CSO Insights

 

To read the article that includes these stats see first    

SITE SEEING link below.

 
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According to several research studies social media is poised to become a stronger force for innovation.
  • 57% of respondents use social media to enable more effective internal collaboration, (78% indicate they will use within 2 years)
  • 58% of respondents monitor customer comments for new ideas, (78% indicate they will use within 2 years)
  • 46% of respondents monitor feedback from customers, (73% indicate they will within 2 years)
  • 40% of respondents enable customers to submit plans/solutions, (68% indicate they will within 2 years)
  • 38% of respondents enable more effective collaboration between partners/suppliers (72% indicate  they will within 2 years).
--IBM Institute for Business Value

A separate study found social media looming large in innovation cultures.
Asked which of four technologies would best be suited for helping their companies' business units innovate effectively,
  • 44% of global executives named social media for developing new channels to market
  • 43% named improving customer experience
  • 38% chose big data analysis first for developing new products or services
  • 38% selected improving business process
  • 60% named developing new pricing models  
--Economist Intelligence Unit and Oracle








THE QUOTES
  
 
"The best way out is always through."
 --Robert Frost (1874-1963) American poet


"For a salesperson to succeed, he or she does not have to be incredible. But he or she absolutely has to be credible."

--Herb Greenberg and Patrick Sweeney, CEO and President respectively of Caliper, An international management consulting firm


For related statistics see
THE STATS below.

To read article which includes this quote see first SITE SEEING
link below.


BONUS QUOTE:
"Corporate culture changes only when the people that live in that culture change. People change only when they see their leaders consistently model desired behaviors. Therefore, to change their organization's or team's culture, leaders must define, demonstrate, and reinforce their desired culture."
 
--S. Chris Edmonds, Strategic management writer

To read the blog about leading change in your workplace, which includes this quote see second SITE SEEING link below.




  

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SITE SEEING


Read how sales is changing before our eyes.
http://www.samgeist.com/HowSalesIsChanging.doc

Read about the four keys to encourage your people to change.
http://smartblogs.com/leadership/2012/11/20/corporate-culture-changes-only-when-people-change/


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Reproduction for publication is encouraged with the following attribution:
From "QuickBites," by Sam Geist.  (800) 567-1861     http://www.samgeist.com 

Sam Geist lectures, facilitates workshops and conducts training seminars on sales & marketing, the changing marketplace, leadership, differentiation, customer service and staff motivation.  His three books, "Why Should Someone Do Business With You... Rather Than Someone Else?" "Would You Work for You?" and "Execute... or Be Executed" are available in bookstores everywhere, published by Addington & Wentworth Inc.

 

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