Reel Them in With the Right Bait

If you're anything like a "normal" operating company, you probably have competitors. That means, of course, that your customers do have a choice. And, I guess you understand that one key thing to recognize is why customers make the choice they do.

When you think about it, they make their choice based on the difference they perceive between you and your competitors. And that means you have to add "hooks" - seemingly small (often lateral) ideas that make a major difference in perception.

One of our clients (we'll call him John) showed me how his company did it. John's company sells stationery. The situation is that John's company is bidding for a major (as in very major) account for the supply of all the account's stationery requirements. It's a mega-million dollar sale in the first year alone. Everyone else has cut their prices to the bone - everyone else except John.

He meets with the account's professional buyer and asks this simple question, "What is the most difficult thing that occurs in dealing with a stationery supplier?" John expects answers like "service" or "lack of on-time delivery." But what he gets is "reconciliation." "How do you mean?" asks a somewhat surprised John. The client talks at great length about how all the invoices come in and how it's really difficult to charge the appropriate department. John listens intently.

To cut a long story short, John suggests that his people key all the client's computer account codes into their computer so that the account numbers can now appear automatically on the invoices and statements. In addition, John suggests that his company produce a list each month showing how all the various departments are performing with respect to their stationery budgets. "Would that make life any easier?" John asks. In fact, what it's done is saved the client many previously wasted hours of labor.

They are now happy to pay John's premium prices.

John's added a hook to his product. Will it work for your product? If it works for John, maybe it will work for you, too. Just ask, "What hooks can we add?" at your next team meeting.

Remember: you are trying to hook the clients. The bait must be attractive to them. So, always discuss things with your customers. It is often said that the successful salesperson spends 80% of their time listening and 20% talking. Your customer who has the information, and you must listen to them to find out their real needs.

viva Las Vegas!