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got sales?

 

A Newsletter With Insights on Sales Excellence and Customer Retention

Volume 3

April 2005  --  Issue 2  

www.PeakSalesConsulting.com

info@PeakSalesConsulting.com 

 

Measuring Customer Profitability

Apply the right resources to leverage customer retention

How does a business measure the profitability of their customers? It’s not easy. You can look at what they just bought and compare the revenue from that sale to what your cost was to make that sale, resulting in your profit. Or you could consider what long term value that customer will have with you and compare that revenue with the costs associated with keeping them as a client. Or you could simply guess (although I must advise against this method). However you do it, or don’t do it, it’s important for a business to understand how profitable their customers are and plan their sales and marketing efforts around that critical customer information. After all, you need to generate a healthy ROI for your business to survive and thrive..... Read More

 


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The Power of Positive Thinking

Positive thinking yields positive results.

Negative thinking yields negative results.

Years ago, before the Soviet Union was separated into individual states, there was a railroad mechanic working inside a railroad refrigerator car doing some repairs. Without warning, the door suddenly closed shut with the mechanic inside. The only way to open the door was from the outside. So the mechanic began banging on the door for help. Unfortunately, it was late in the workday and nearly everyone was gone for the day. After what seemed like an eternity banging and yelling for help, the mechanic resolved himself to the fact that he would be spending the night in that car.

The next day when the other workers returned to the work site, they opened the refrigerator car door only to find their colleague dead on the floor. They noticed writing on the wall – writing from their expired co-worker. There were 4 lines written. They said:

-         It’s starting to get very cold

-         It’s getting difficult to breath

-         I realize that I am going to die in here

-         These will be my last words

These words, and the resulting death of their friend, perplexed the workers. You see, due to an electrical problem in the cooling system, the refrigeration unit was not operational and the temperature inside the car never went lower than 56 degrees all night. Also, the car was not airtight and there was plenty of oxygen inside the car. Therefore, their only conclusion was that their poor colleague willed himself to death.

Have you ever willed yourself to poor performance, or worse, because things haven't been working out the way you expected? It happens to almost everyone in sales, at least once in a while. After all, who likes to hear "no" or get rejected as part of their livelihood? You make 20 phone calls to schedule a meeting and they're all rejections. You lose that big sale to a competitor after months of hard work. It's only human nature to start losing faith and thinking negatively, or just want to give up. But you can't let that get the better of you.

In sales, you are frequently faced with rejections and lost sales. But you can't afford to let them drag you down and think negative thoughts. You need to review the reasons for the loss, learn from them, and move on. Eventually, you will get that meeting or close the sale. And if it's not the next one, it could be the one after that. If you think negatively, however, you can almost guarantee yourself that you won't get the next sale since you will be sabotaging your efforts.  

When times get tough and you feel yourself getting dragged down into doldrums, remind yourself of the positives in your life, the sales you did make, the potential of future successes. Take a break. Go for a walk. Clear your head. Call someone you know that is positive just to say hello and to help give you an uplift. Avoid negative people and surroundings. Get some exercise. Eat healthy. Change your environment. Do whatever you have to do to keep a positive attitude. Otherwise, your customers will pick up on it and avoid you. The chances of scheduling that meeting will diminish since people don't like dealing with negative people. Your attitude will shine through like the sun, so make sure it's a positive one and don't ruin your chances for success.

Remember this story about the Russian engineer. Positive thinking yields positive results. Negative thinking yields negative results. Don’t get caught thinking negatively. The results are predictable and almost always devastating.

Good luck and good selling!

Russ Lombardo


 

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Helping Businesses Acquire & Retain Customers

 

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PEAK Sales Consulting specializes in working with businesses to develop and implement business and sales processes. Our focus is to help businesses increase sales revenue, reduce sales cycles, enhance lead flow management, develop world-class sales teams, and create customer retention strategies. PEAK Sales Consulting develops Sales Process and CRM strategies, provides sales coaching and training, and offers sales technology solutions. Visit us at www.PeakSalesConsulting.com  or call us at (702) 655-5652. Our email address is sales@PeakSalesConsulting.com and our mailing address is 8205 Wooden Windmill Court, Las Vegas, NV 89131

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