Case Study
Steven Smartsell mentions to Olivia Ontime that if certain conditions exist, FutureTech, with its wide range of manufacturing products and services, has had significant successes in preventing unscheduled production stoppages, reducing operating costs, increasing productivity, and eliminating the potential for code violations.
He then asks Olivia which one of these goals interests her. In addition, are there others she would like to pursue?
Note If customers ask you what those “certain conditions” are—always tell them. Inform customers these conditions range from technical to operational to financial considerations. Again, you want to meet (if you get MPC 1: Interest Confirmed) to explore these considerations (filters, measurable benefits, and systems of evaluation) in detail with them.
Step Three: Track Record
Verify that customers have an interest in at least one of the goals. Whether they select a goal or not tells you whether your Market Profile sheet is on target or needs reassessing. It also indicates whether a cost-of-doing-nothing situation or create-and-wait situation exists. Once they select goal(s), you can reference documented successes in their market segment.
When you provide references from only their market segments, customers view you as a leader in their industry. For instance, do not use office buildings, schools, and hotels as references for hospitals. Review your reference lists and see if you segregated them by market segment.
Note A word of caution: If you mention customers’ competitors, make clear that each company is unique in its own way. Stress that your success with their competitors is due in part to your ability to keep trade secrets strictly confidential. Finally, point out that your expertise also lies in solving common industry problems.
Case Study
Olivia Ontime confirms that her interest lies in reducing downtime. Would you really expect any other goal from a vice president of manufacturing in a critical application where downtime has huge lost-dollar implications?
Steven Smartsell mentions how FutureTech helped vice presidents of manufacturing companies similar to Positron to achieve the same goal. He references companies such as Advanced Computer Co., Star Computers, and PC Power Ltd.
Measurable Phase Change 1: Interest Confirmed
You express and verify mutual interest to invest more time, effort, and resources in exploring the customer’s stated goals. Your focus is on the customer’s goals and benefits, not on your product’s features and benefits. Do not mention specific products until MP 3: Cement Solution. You still need to perform a test of reasonableness on the customer’s goals and filters before you know what the customer can achieve and what you can offer.
If customers ask about specific products or a price (a common customer question), tell them a few come to mind or give them a wide range. However, you really do not know which ones, if any, fit their circumstances until you understand them better. Do not box yourself in with a specific product—and without a specific product, you cannot provide a specific price. It is unfair to customers and to you to try to guess what, if any, products can help them before you know their measurable goals and filters.
You also risk coming across as presumptuous. After all, how can you, one or two minutes into a conversation, claim you can help them solve a problem or achieve a goal? Anything you do not say about specific products today, you can always say tomorrow. The reverse is not true. You cannot “unsay” something. If customers push you for detailed product information do the following two things:
Ask them specifically what they would like you to discuss—that is, operational, financial, or technical aspects of your products. Then, explain that without knowing the specifics of their goals, situation, and purchasing considerations (filters), you would not know which one to highlight yet.
Promise to bring a general product or company capabilities brochure to leave with him or her after you meet.
MP 1 ends with MPC 1: Interest Confirmed. Customers confirm there is an interest in achieving a goal and determining its potential. They agree to your call for action, which is a recommendation to the customer to implement a measurable and physical activity. Besides a purchase order, this could be a meeting, a survey, a review of past records, a job-site visit, a factory visit, or another sales call.
Note Make sure you do not sound as if you are doing the customer a favor in pursuing this opportunity further. You just want to confirm that you are not the only one motivated to pursue their goals. Remember the pitfalls of being more motivated than customers (Chapter 1).
Case Study
Steven tells Olivia that he is willing to invest time in pursuing her goal of reducing downtime based on the potential benefits if she is willing to invest time also.
Steven schedules an appointment to meet in person with Olivia to conduct the second phase, MP 2: Measure Potential.
Using Voice Mail to Jump-Start MP 1
For salespeople, voice mail sounds more like voice jail. You find yourself locked into two less-than-ideal choices. Either you leave an awkward message that is not returned, or you leave customers with a lot of hang-up messages. Then, you keep calling back. You are now in a race. You hope you make contact with the person before he or she figures out that you are the one who keeps hanging up.
The key to leaving a voice mail that encourages customers to call you back is to have an abbreviated spark interest statement ready to go. Your objective now is to get the customer interested enough to return your call. If they call back, be ready to use their Spark Interest Statement (you might want to set up a Waiting for Returned Voice Message folder). If they don’t, there is always speed dialing.
Example
Voice Mail: Hi, this is Olivia Ontime with Positron. I’m sorry that I missed your call. Please leave your name, number, time, and a brief message. I will get back to you as soon as I can. Beeeeeep.
Steven: Hello Olivia, I’m Steven Smartsell with FutureTech. We work exclusively with personal computer manufacturers that operate at least five production plants worldwide. Our global services and products have had one purpose for more than twenty-five years: We successfully help manufacturing managers of companies in highly competitive market places increase their productivity and profits without sacrificing quality and customer satisfaction.
I’m confident that when we speak, you’ll know within five minutes whether we might be in a position to help you. At worst case, I’m sure our discussion will highlight key industry trends that could affect your operations. You can reach me at 888-999-7777. I look forward to our conversation. Thanks for your time and consideration. Have a great day!
In this example, Steven’s forty-five-second voice message has all the qualities of a strong Spark Interest Statement. He shows evidence of research, lists some goals and general benefits, and indicates past successes. He also lets Olivia know that he possesses industry expertise (goals, system of evaluations, and the like)—and that her investment is only five minutes.
Using E-Mail to Jump-Start MP 2
After obtaining MPC 1: Interest Confirmed, let your contacts know that you would like to send them an e-mail or a fax. It will outline a tentative agenda of your in-person meeting. Let them know that the purpose of the e-mail is to give them the opportunity to make changes to the agenda. Stress how it will help to ensure that you fulfill their expectations of the meeting. Referencing the e-mail also serves as an excellent way to begin MP 2: Measure Potential.
The following e-mail example occurs after Marge Kane, a sales representative who sells financial services, completed MPC 1: Interest Confirmed. Her contact is Barbara Green. She is the chief financial officer for a high-tech start-up corporation called Advance Biotronics. (See Exhibit 6-4.)
Dear Barbara:
As we discussed, at CorpGrowth, we have one goal. We help growing biotech businesses have the financial power to move from one stage of their development to the next stage in a profitable manner. Therefore, to make the best use of our half-hour meeting, I would appreciate it you could review this tentative agenda. I welcome any additions, deletions, or modifications you might have. Just send them back to me and I’ll make sure we address them.
An overview of Advance Biotronics’s asset situation today to determine your starting point.
A review of your key asset management goals. In addition, how you will measure their achievement in order of importance to determine where you want to end up. You mentioned that “preservation of capital” is your top priority. For your consideration: some other typical financial goals for companies like yours that are shipping product and have positive cash flow are as follows:
High degree of liquidity
Liquidity forecasting
Competitive investment performance
Review of industry trends in asset management to help you explore more options.
I appreciate your time, efforts, and consideration. I look forward to meeting you on Tuesday at 10 A.M. I’m confident that it will be educational and productive for both of us.