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Customer Behavior     
 
This question has been closed, and points have been awarded.
When Customers Say: I Am Satisfied Already
Posted By: nitin_newindia* on 6/18/2004 5:28 AM (CST) 200 Points
I often come across with a situation where customer don't want to listen me and tells of his satisfaction with the present vendor.

What to do in such cases where customer does not even allow to present him the proposal and does not give 5 minutes even?

Posted by: telemoxie Accepted Answer
6/18/2004 7:59 AM (CST)
We need LOTS MORE INFORMATION to provide helpful advice.

What are you selling? Who are you selling to? Is this business to consumer, or business to business? When you say, "the customer doesn't want to listen to me" - do you mean the Prospect doesn't want to listen? Do you have any key benefits over your competition, or are you basically providing the same service? Do you have a web site we can look at?

Generally speaking, I would make the following observations.

1) Most folk will not tell you the whole story on the first phone call. You may need to make several calls over time, and generate a relationship of trust, to learn their true feelings about their current vendor.

2) A long term approach might or might not be appropriate for your product or service (whatever that is) based on the profitability of each account.

3) You may be able to increase your success rates dramatically by more carefully selecting a prospecting list. Once again, if we know more about your situation, we can give more advice.

4) If you have a product or service which is fairly profitable, and you feel it is worth a long term effort, you might want to put most of your persuasive points in your sales literature. For longer term sales, I'm typically trying to sell the person on Reading my literature, and I have the sales message in the literature.

5) Maybe they don't need what you sell. If they are happy, that's OK. Try to look at the situation from their perspective - put yourself in their shoes. And figure out how to find someone who is not happy with their current situation, someone you could help out.

Take care -
 
Posted by: nitin_newindia* Author Response
6/18/2004 8:14 AM (CST)
OK SIR I'LL GIVE YOU ENTIRE DETAILS FOR SPECIFIC ADVICE.

OUR WEBSITE

www.envestmentz.co.in
 
Posted by: kwinters* Accepted Answer
6/18/2004 9:53 AM (CST)
Even without know what you are selling, I can say from experience that many customers are not happy with what they have, however, the thing that gets them to share that with you is consistent contact to build trust...as a BDO for my bank, I noticed that the first few times I visited some businesses, I was brushed off, however, after some time and several visits I have customers and noncustomers alike freely sharing their cares with me and being open with me...I think persistence is at least one key...
 
Posted by: Peter (henna gaijin) Accepted Answer
6/18/2004 12:34 PM (CST)
Marketing instead of sales can also help open customers up. If they don't know who you are or what you offer, they probably expect that what you have to offer won't help them or otherwise make life harder for them.

If a salesperson calls me from a brokerage that I don't know, I likely would not want to talk to them. But if I have heard good things about the company and their products before, I would be more likely to listen.

For you, that would mean ensuring that your marketing is in place so that people become aware of your company and products. Doesn't have to be expensive ads - this can also be done through public relations and getting talked about in the media.

For an online trading/stockborker, you also need to overcome some additional challenges, such as the cost of moving the account from one bropkerage to another. There is a certain level of resources needed to change accounts like that, and this is a big challenge for you to overcome.
 
Posted by: ms* Accepted Answer
6/18/2004 2:22 PM (CST)
This is just off the top of what's left of my head after acting on some of the great advice I got in response to my "Customer Behavior" question the other day.

You might be presuming too much good will on the part of your prospects by expecting them to set aside their work to listen to a "proposal" from someone they don't know and whose services they might not even need.

Something I have found useful in "cold calling" is to start my conversation by introducing myself, citing any possible connection I might have with them (no matter how slender). I assume they're busy and ask if they would prefer I call another time, which is usually the case. I follow their advice and call back at the time they suggested. I can then truthfully say, "You asked me to call you back about..." which prevents them from telling me to go away :)

Then I disarm them by not pitching my product in any way. Instead, I say, "This can be a small town so I don't expect you to name any names or repeat what we discuss, but I'm adding to my client list and I'm wondering if I'm emphasizing the right aspect of the services we offer here. I'd be interested in knowing what attracted you to your present graphic design resource and what it is about them that you really love the most."

They will almost always say they don't actually "love" their graphics person. (Who would?!?) Sometimes they'll tell me horror stories about the people they're using. Other times they'll answer, "What services *are* you emphasizing? Whatever the response, it gives me the opening I need to get them off the "we don't want any" track and bring my services to their attention without taking the unnecessarily negative approaches of either trashing my competition or seeming to presume that they might be dissatisfied with their present resource.

Sometimes, I wind up getting plenty of useful (or at least wickedly satisfying) information about my competition -- I can usually tell who they're talking about even if they don't "name names." In the best of cases, the prospect opens up, happy to have a knowledgeable "ear" to unload on since they will often be the only person in their company who cares about nitty-gritty graphics and printing issues and they seldom get a chance to really vent. In the best of cases, we cement a new professional relationship and set a date to meet. If I feel we're leaning in that direction, I mention my website and I they'll navigate to it while we're talking. I have it set up so that the first page you hit (after a very brief "thank you for visiting [my company name]..." splash, is not a ho-hum "home" page, but the portfolio section. I'm shameless enough to believe that even a quick look at it will knock their socks off.

Do you think you could come up with a plan like that?

Or maybe, since investors do receive an awful lot of frankly unwelcome phone solicitations, cold-calling may really not be the best approach for you. Perhaps you might want to try the (ahem) graphics approach rather than phoning. You have a sophisticated, attractive web site. Why not promote it as a means of pulling in new business? You could do a soft-sell Variable Data mailing -- maybe tricked out as an invitation to a very cool exclusive party -- offering an incentive to visit the site for some sort of premium offer. (Whatever's legal!) You could even add a page or two to the site that's designed specifically for the campaign and that you can't navigate to from any other pages on the site, to enhance the exclusivity feature.

Good luck!

M.S.
 
Posted by: jcmedinave Accepted Answer
6/19/2004 8:23 PM (CST)
When the customer is not interested in your proposal, you will need to review:

1. The Moment: maybe your customer have another priorities, don't have time to think in your topic, he has a lot of problems to resolve.

2. The Place: is it the correct place to talk about the topic (money)? Maybe it will be better the golf or tennis society club, or a restaurant, or a conference, ...

3. The Time: Is it the appropriate period of time, month, day, hour? To invest money, you will need first to have the extra money, or the future project to achieve,..

4. The Person: Who is in charge of money decisions?, How is the Organization procedure to approve this topics?, Do they prefer to talk in committees?

5. The Advertising, Marketing, Approach: Do The people know the topic in advance?, Are they motivate to talk about it?

6. The Sales person, attraction, emotional involvement: each person could be different, but, maybe it will be better a man or a women to sell the project to this Executive or personality type?, maybe your proposal should be more concise, or support, or you will need more references and success results,.... All that will depend on the personality style of your prospect.

Remember that every objection is an opportunity, if you could see the information beyond them.

Bye,

Juan Carlos
 
Posted by: president_coo* Member Response
6/19/2004 9:26 PM (CST)
nitin_newindia,

Is your question directed a single individual or toward selling an entire business on your idea?
 
Posted by: michelletrex Accepted Answer
7/1/2004 7:21 PM (CST)
I have recently finished reading a book called "Marketing Without Money" - De Bono and Lyons. I think you should read it to start thinking about customer needs. It outlines how just about every market is saturated with over supply - like stock broking services. It talks about ways to think laterally about your potential customer and ways to address their needs and win their business. If you have a unique selling proposition and create genuine value for your customers winning business becomes a lot easier. I had a quick look at your web site and apart from the tag line "your personal stockbroker" there is nothing that feels personal or inclusive about it.

Why not think about ways to make it truly customized? ("Massculsivity" - read about it on www.trendwatching.com.) Why not offer a free trial of 3 months where in that time you shower them with "personal" service - to do that you must address the question of needs - what other related services and value adding can you give it? Does it for example remember the customer and offer a personal greeting when they log in? Does it truly advise and do customers feel smarter than the bloke next door? Why?

Still not with me? Try this.. The value of a stock broker is to create wealth (ego status). Having a great car and going on holidays (ego status). Join our service starting with $1,000 and we guarantee a new BMW every 3 years and a trip to the Bahamas.

Good luck. Michelle
 
Posted by: erobbins* Accepted Answer
7/2/2004 8:42 AM (CST)
From someone who encounters this issue on a regualar basis, I find it helpful to combine marketing and sales efforts. Marketing can help you establish brand recognition so that potential clients can more easily recall your name in the event they would like to switch. I also find it valuable to create stellar relationships with existing customers so they can provide valuable testimonials and references, as well as recommendations to others in decision-making positions that they are acquainted with. It is always advisable to keep a repeat customer, rather than expending all energy and service on those who are likely not to leave their current vendor.
 
Posted by: aalbergo87 Accepted Answer
7/2/2004 12:26 PM (CST)
“Satisfaction with the present vendor” is a common sales objection heard by sales reps in every industry. Where Marketing will be one of your best attributes to help combat your most heard sales objections as erobbins suggests, a review of your sales message will be needed. Do you have two or three different messages that will generate interest with your prospective client?

The proper prospect research prior to your call into them is also very important. What do you have to offer that will solve their existing problems? What is in it for them? MS does a great job with prior prospect research by asking the right questions and generating an interest with his clients.

You could also talk to your peers in your industry and ask them what responses they have found to work for them for this type of sales objection.

Another recommendation I have for you is to visit the Jeffrey Gitomer website, http://www.gitomer.com/index.cfm and sign up for his Sales Caffeine newsletter. He is constantly writing articles and offering great advice for this very subject – Sales Objections.

Good luck!
 
Posted by: Val (Moderator)* Moderator Response
7/6/2004 3:30 AM (CST)
Hello all. I am closing this question. This is our standard procedure when the question asker gets busy and falls out of the conversation for a while - or isn't clear about the process for closing.

Thanks, so much, for participating!

Val (Moderator)
 


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