Increase the value of every sale

Increase the Value of Every Sale

Most of us are very familiar with the up-sell. My most memorable up-sell experience was buying a jeep. The advertised cost was “Starting at $17,500”. That got me interested. I drove away with a $24,000 jeep. How’d that happen? The up-sell.

Up-sells are predicated on one simple idea: multiple product and service levels. If you only have one standard offering, you can’t make the up-sell. If you have multiple levels from basic to standard to superior then you have the opportunity to up-sell. Cars have base models, sport models and options. Gasoline has regular and premium. Cable TV has basic 20 channels, 40 channels and 80 channels.A great management tip you can take away from this is that multiple product and service levels allow us to sell people the level of service they desire and serve the needs of a wide market.

So when is the best time to offer the up-sell? To understand this we need to review the customer purchasing cycle.

All customers go through four basic stages when making a purchase:

1. Shop for it and make a decision to buy

2. Order it and work out the details

3. Get it and pay for it

4. Use it

When you are still deciding what to buy you are researching, price shopping, comparing features and doing all the things you need to convince yourself you really need to purchase something and deciding where the best place to do that would be. I call this the shopping stage. During this stage you looking at what is available and who you can trust. There is so much information, that you can’t possibly start to consider all the details of each possible purchase. This is not the time to up-sell. You must sell before you can up-sell. Up-selling at this stage can turn people away.

At some point along the way you make a decision. You pick a place and a thing (or a service) and you decide “I’m going to do this”. From a business perspective something very important has just happened. You have started to imagine you already own it. You have crossed a very important psychological boundary from shopping to ordering. You are no longer comparison shopping and wondering if you really need it, you have decided you are going to take the necessary steps to get it. You are now open to the up-sell.

The best time to consider offering your customers the super-duper package is after the purchase decision has been made. This is a simple idea and also a very important concept to understand because it works. It is so important that many businesses hand you off to a different department as soon as they determine the purchase decision has been made.

When you buy a car, the sales person takes you to the decision point, then the “manager” works out price and lays out the “additional items” that you won’t want to turn down because they are so important.

When you go to the till in an electronics store they then ask if you want to add the “extended warranty”. None of these were mentioned during the conversation with the sales person that convinced you to buy. All of them are valuable to you, and increase the overall value of the sale to the business. They are all up-sell opportunities.

Offering multiple levels of your product or service allows you to employ up-sell strategies to increase the value of your average sale. The up-sell offerings must be of genuine value to the consumer, and are generally accepted best if you wait until after the initial purchase decision to offer them. For some types of up-sells you may even want someone other than the sales person to offer it to the customer when they are placing the actual order.Did you find this article useful?  For more useful tips and   hints, points to ponder and keep in mind, techniques, and insights pertaining to credit card, do please browse for more information at our websites.
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Kick butt right now with 5 essential 2009 career goals

Kick Butt Right Now With 5 Essential 2009 Career Goals!

These days you need stand out more to your current employer and other companies. When you take the initiative to get noticed correctly you’ll be a much better candidate in the job market. And you’ll be a more valued employee in your current job.

So, here’s how you can position you for success :

1. Try to feel differently about the people around you. Instead of trying to acquire more and more contacts, spend more time with the ones you have .

2. Visualize where you want to be in one, three and five years. What kind of job, where is it located, whom do you want to work for and with, and what are your compensation expectations?

3. The best way to be visible and rise higher in your career is by being passionate about your work. And do it exceptionally well. When you excel, other people will talk about you.

4. If you’re doing an outstanding job and senior managers aren’t noticing you, maybe you’re not talking enough about yourself. Market yourself within your company. For example, acknowledging others’ success raises their visibility and puts the spotlight on you.

5. You have to build your contact bank or expand your network. Why? Because the most valuable resource you have is not your resume or work history, but your access to a diverse range of folks who can be helpful to you in many different ways.

These career goals go way beyond the passive «traditional» ways of thinking about career advancement. With the old-fashioned way you take a quantitative approach . . . thinking that doing more of the same will get you ahead. In other words you’re getting nowhere fast . . . you’re just moving in place, only you’re moving a lot faster. That’s last century thinking.

In case you missed it, we’re living in the 21st Century. So why use last century methods to look for a job or advance your career?

The dynamics of the 21st Century have changed everything.

OK. You can still find classified openings in the newspaper. There are still lots of agencies and recruiters at work, as well. And, of course, you can post your resume to some job sites.

But the marketplace has shifted dramatically. Expectations of both employers and job-seekers have moved in decidedly new directions. For example, employers expect job-seekers to know and understand corporate goals. They want prospects to demonstrate how they can contribute.

On the other hand, job opportunities are being created on the spot and the candidate can be part of the creation process. Above-average deals are the products of above average negotiations where «dollars» is only one part of the total package.

Most importantly, if you want to excel, if you want a superior job with more money, if you want to select your next job rather than settle for it, you must understand and embrace the dynamics of today’s job marketplace.

How to discuss being fired from your last job in an interview and still look like a star candidate

How to Discuss Being Fired from Your Last Job in an Interview and STILL Look like a Star Candidate

Mid-managers and executives get fired for lots of reasons. Some are legitimate for performance reasons and some firings are completely unjustified. Regardless of the reason for being let go, there are solid methods for communicating the circumstances without hurting your candidacy with potential future employers.

Here are three solid steps you can take to have successful interviews after being fired.

Step #1 — Give yourself time to decompress

This is the most important step you can and will take. If you have lost your job most likely you will go through a grieving process — similar to other significant life-losses we all experience. If you interview prematurely, you may inadvertently «wear your grief» and/or find yourself unable to talk about your last employer with the kind of convincing detachment and discretion you will need to keep interviewers focused and excited about the value you offer them.

What if you need to begin to interview right away? To speed up your «grieving process» while still honoring that time cycle, take a ceremonial weekend vacation, book a round of golf, take a spa day or a family picnic by the lake. Whatever you decide, make sure it’s fun and relaxing because this is your decompression time…just for yourself! Title your outing: «Your Ceremonial Moving On.» This is a physical process that evokes very real physical and mental benefits.

I have seen this «Moving-On Ceremony» work wonders with my clients and I promise it will work for you too. In fact, I have used it myself. When I left my last employer my husband threw me a congratulatory dinner and I bought myself a big decadent slice of carrot cake, stuck and candle in it and we spent the evening talking about the future. It was wonderful!

Step #2 — Identify your allies

You want to contact any and all allies you have and had with your last company. These can include past colleagues, people that worked for you, key executives, clients and vendors. Anyone that can attest to your strengths, your attributes and anything positive. In applicable cases, those individuals who can diplomatically hint that there were problems beyond your control with your last company can be especially helpful. Remember, references can be provided by lots of other people besides your past «boss.»

Step #3 — Prescript a BRIEF, but clear, statement

Develop a brief statement about the reason you were fired and practice saying it. You can use it in your upcoming interviews. Keep it short, simple and clear. Here is an example:

«Unfortunately, I had no choice but to leave my last employer. When I originally took the position, I was excited about________. At first blush, it seemed that their recent merger was going well. I had no idea there was such internal animosity amongst management. Perhaps in my excitement about the opportunity I missed the subtle signs. If I were to interview for another merger situation, I would certainly know what questions to ask. Now I am focusing my attention on moving forward and I am quite excited to be here to talk with you about your corporation’s goals.»

No matter what you «say,» the secret is to be positive, bold and forward-thinking. Your interviewers will focus on whatever you shine the spot light on, so keep your attention on them, their challenges and how you can help.

Using these three steps, you can easily turn a situation you may be worrying about into a non-issue. Remember, too, many people who have been fired are afraid that they will have to make big sacrifices in order to land their next position. But most of the time this is simply not the case. Use the situation to reflect on whatever can be learned from it, use these powerful techniques to minimize any damage and simply move on!

How to make change stick

How to Make Change Stick

Well, I’ve talked about ‘mindsets’, and I’ve talked about ‘groupthink’. So what am I saying: that all you need to pay attention to if you want to produce effective change in your team or your organisation is the attitudes, values and beliefs of yourself and the people you work with?

The Balancing Act

Not at all. There are two clear groups of factors to take into account if you want to make the changes stick and produce outstanding results quickly, efficiently and permanently: the ‘internal’, and the ‘external’. And there’s a sensitive balance to strike when you consider which to pay attention to at any given time.

‘Internal’ factors include people’s mindsets, and ‘groupthink’, together with the attitudes, values, perceptions, feelings and beliefs that dictate how people think individually and in groups. Most importantly, these ‘internal’ factors colour how people react to change in the world about them, including the organisation they work in.

‘External’ refers to what the organisation needs to change. These are the concrete, tangible structures, processes and systems that are needed in an organisation of any size to make it work effectively. Examples include organisation structures, salary schemes, IT systems, and business processes.

In my experience, one of two things happens when most leaders think about developing their organisation. The first is that the instinctive reaction is to focus on the ‘external’ factors — after all, these are generally tangible and concrete and capable of development using the skills many leaders have in abundance: planning, directing, implementing and analysing. Making visible efforts at change also demonstrates to their managers that ‘real’ change is happening. So we see over and over again new leaders, filled with the excitement of their new appointment, restructuring their team; or firing somebody and hiring in a person they knew in their previous job; or scrapping a system that has been used more or less effectively for some time, and installing the very latest thing they have read about.

The second thing that happens is that a leader recognises that his or her organisation is adequately equipped for the moment with the ‘external’ factors, and that the focus needs to move to bringing the hearts and minds of the people along with the changes. But they try to work on these ‘internal’ factors using the skills they know to work on the ‘external’ factors: information, analysis and presentation. Or they find the whole area too difficult and fraught with the possibility of disagreement or conflict, and retire quickly and with relief to restructuring and reengineering!

‘Internal’ and ‘external’ factors need to be focused on equally over time. If you as a leader do not attend to both ‘internal’ and ‘external’ factors and manage them with equal rigour, your change efforts will fail. To produce effective change in your organisation — that is, to produce enhanced results through the changes you introduce, requires that you develop your awareness and skill equally in both areas.

However perfect for your organisation’s current and future needs the process you design and install seems to be, if it fails to get buy in, or even alienates people, the change will fail to deliver. Better to ensure that you take the people with you who will make the changes work and deliver their intended results in the long run than to lose the passion, inspiration and commitment in your team and your business!

Tips for Making Change Stick

— Consciously design your projects, announcements and events to emphasise the integration of ‘external’ and ‘internal’ — separating these is common practice and a common reason for the failure of business transformation. For example, include in your Six Sigma workshops, restructuring announcements or SAP training an opportunity for people to express their concerns and fears. Include in your vision and strategy communication to your staff the opportunity for them to play with the ideas and to contribute their own version of how they would like to contribute to the effort. Consider running separate events for key teams to consider the consequences of new initiatives in their own work area.

— Listen. When listening to people’s opinions, concerns and complaints resist the temptation to argue, persuade, reassure and generally provide solutions that come from your mindset and your view of the world. People’s concerns and opinions only turn into resistance if they are not heard and respected. You’ll be surprised at how quickly people’s mindsets can shift.

— Role model what you want others to be and do. As a leader you are the best source of learning and adaptation to change in your organisation.

— Keep your word! Don’t make promises, especially early in the change process, that you’re not sure you can keep. Once trust is gone, it’s very hard indeed to rebuild.

— Repeat the key change messages as often, and in as many ways, as possible. Tell as many people as you can what the key changes are, the intention behind them, and the reasons for them. If they complain they don’t know what’s going on, it’s down to you!

— Recognise, celebrate and market internally any successes, especially early on. Let everyone know about great results and recognise those who made them happen.

International trade & the role of china sourcing

International Trade & the Role of China Sourcing

International trade is no longer difficult and has received a good momentum in today’s world. It has become very convenient and generally all the nations are rallying to increase their own share in international trade. One of the reasons for the same is IT infrastructure and B2B boom. It can be said that B2B plays a major role in development of international trade by removing barriers in business. It has become not only a booster but also a supporter that is useful even in tougher times. It has not only made communication cheaper but also helped in establishing a global market where all the countries have unbundled their bags of opportunities. International Trade plays a very big role in the development of a country and exploring its talents into a Global market.

And if a topic is discussed for international trade it is not complete without discussing a country like China. China is considered as one of the healthiest exporter world wide and stands no. 1 in Asia. It has got a huge market for outflow of its products to other countries. It also imports in a large quantity but China manufacturers hold a very good market in production. Their portfolio managers manage very well and find out the resources for their products to make their products cheapest in the world. We can easily watch China manufacturers in almost each country. These prove the capacity of their production.

China sourcing is not only favored in the established world wide markets, but also play a very good role in supply of various products to multinational companies. This helps them grow easily and that too with a good margin as it gets the cheapest product from China. It is a hub for the electronics goods. Majority of the multinational electronics companies have a tie up with China manufacturers for their products, as it proves to be much more cost effective compared to other products. The quality given by China in International trade does not acquire a good position, but due to its cheap products it covers ups its market easily.

China at an international level of trade provides various products, it has got a potential to produce each and every product with a brilliant man power. This results in a very good output forcing them to throw it away in the international trade. Moreover, due to its cheaper products companies do get attracted and forced to have a contract with them in order to compete in the international trade. The portfolio managers easily create their client through out the world in order to have a grip towards the international trade and increase their own market. Moreover, Asia continent has got number of developing nations. Multinational companies seeking over this nation can easily get goods by China Sourcing. Apart from that, being geographically located in Asia, China has a very good scope for expanding its market in its neighbor developing nations and acquiring chief place in such markets. It has a very good command over the electronic goods parts, materials made up of plastics, some of the ingredients of the drinks and lots more. China Sourcing has proved to be value for money with a wide range of variety not only for itself, but has also become one of the best international traders amongst the developed countries in the World.