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Take
Advantage of the Internet
by Michael Malaghan
There are always opportunities through which
businessmen can profit handsomely if they will only
recognize them.
- J. Paul Getty, Business Executive
Who
can forget all the hype of how the Internet was going
to make all retail businesses obsolete? It was going
to be, Good-bye, shopping malls and sales personnel!
Hello Brave New World!
Thankfully,
the Internet has not eliminated the direct sales business,
as we know it has made it better! The Internet revolutionized
it, building upon the existing so-called bricks-and-mortar
foundation of the direct sales industry. I am amazed
at how the Internet changed the businesses I managed
in Asia from 1991 to 2002. In 1991, I had not even heard
of the Internet, and thought the web was
something to do with Charlotte and spiders. When I left
Asia, the Internet was responsible for ten to fifty
per cent of sales, depending on the sales organization.
Let
us review some of the advantages the Internet, computers,
CDs and DVDs provide sales managers.
Lead
generator --- I will always appreciate Michael Collier.
Mike was an English teacher in our customer support
club for our English home study programs. In 1994, he
boldly asked to give our senior management team a presentation
on obtaining sales leads on the Internet. Excuse me,
what was an English club support staff guy doing meddling
in direct sales marketing?
However,
we could not deny Mikes enthusiasm, and, almost
as a courtesy, we reluctantly gave him thirty minutes
to make his case. By the slimmest of skeptical margins,
we approved $10,000 budget for six months to test his
theory. That test changed our business forever. Within
two years, half our orders in that sales division came
from Internet leads. Thanks again, Mike.
Initially,
we put our magazine and other print format lead solicitation
ads on our Web site. Then we paid, or traded for, advertising
on other selected Web sites to have our ad links
displayed. We assigned the leads as any other lead.
We learned as we went along. The Internet ads took on
more of an Internet look. We found we could
give a sample English lesson from our home study product
on our web site.
Initially,
Internet lead conversion rates were less than half the
magazine lead conversion rate. Some sales reps gradually
learned how to approach and sell Internet leads. We
recorded conversion rates by lead category. We primarily
assigned the Internet leads to those sales reps with
good conversion records. We discovered that lead generation
online is cheaper and the results quicker than almost
any other type of lead sourcing. Generating relatively
cheap abundant leads was the most dramatic, but not
the only positive impact of the Internet and other electronic
innovations in our industry.
The
Electronic Sales Binder Laptops give direct sales
people both a new, powerful sales presentation tool,
and they and their company greater credibility in a
sales industry where credibility is often an issue.
Replicating the sales binder on the laptop screen is
easy; more importantly, you can add many wonderful features.
For
instance, a computer can hold thousands of pages of
need story material catalogued by prospect type. The
same is true with endorsements or product information.
The hard drive, memory, CD or DVD lets the sales person
tailor the presentation to the needs of the prospect.
There
is danger here; some sales people fall in love with
their computers and try showing the prospect EVERYTHING,
causing boredom. The benefits of personalization vastly
outweigh this danger. .Furthermore, all pricing and
payment terms can be prewritten. If you sell your product
on installments, payment plans can be stored, indexed,
and downloaded, instantaneously. Laptop presentation
provides visual images no printed binder can match.
Electronic
Training Manuals The best direct sales companies
put their training materials online to ensure standardization,
allow for easy updates, and include self-study tests
that can be uploaded. You can assure your whole team
is thoroughly familiar with all the basic skills necessary
to do the job. A good web site wont make a great
closer but it will certainly promote consistency
in training while improving closing and prospecting
proficiency. You are effective without these electronic
tools; you are more effective with them. They extend
and expand your competence.
Sales
meetings --- Sales meetings are more dynamic with
PowerPoint® presentations. Complicated ideas are
more readily reduced to easy-to-understand graphs and
pie charts. However, boring is still boring.
Leave
behind button-up --- The leave-behind CD at the
point of sale is a great new tool to address the ancient
problem of buyers remorse. All direct
sales industries have some type of cancellation, after
the order is written, problem. This rate can approach
thirty per cent.
No
doubt, you have some type of button-up procedure
where your sales representative reviews all the benefits
and financial terms of the purchase as the last step
of the presentation. At the end of the button-up, a
leave-behind package is normally given to
the new customer. The leave-behind package typically
includes a copy of the contract and a pamphlet that
reviews all those benefits once again. The real message
of the leave-behind package is, PLEASE do not
cancel.
The
CD is the perfect leave-behind tool. Many sales presentation
portions can be recorded on the CD. These both reminds
the buyer why they purchased, and helps convince household
members or business associates, not present for the
sales presentation, that this purchase was a good decision.
Additionally,
parts of some products can be delivered
on the leave-behind CD/. In my educational products
business, we learned to leave-behind some
immediately useable learning material on the CD. Cookware
companies could leave behind recipes; exercise equipment
and fitness centers could deliver tips for good health
habits; and the cemetery industry could provide information
on planning tools for the final event.
Sales
Bulletins and Pay Statements Sales
bulletins can now be instant. Each company has a designated
day when all sales are final. The accounting department
closes the books, updates a database, and configures
the results into a sales bulletin. The results appear
on the internal company web site within minutes. Everyone
can access sales contest results and recognition bulletins
instantly. You or your secretary can print a copy off
the computer to post in the sales room. Its the
same for pay statements. Everyone can receive their
pay statement electronically. Managers can quickly review
all their sales groups pay statements.
The
computer and the Internet combination is the most powerful
new tool in the direct sales business, just as it is
for most businesses. You may well be taking advantage
of these new electronic and internet tools. If so, congratulations.
You are a leader in your field. If not, you have an
opportunity to ratchet up your success quotient.
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