Trusted Advisor Blog

Trusted Advisor Blog Posts by Jeff Mowatt

Make savings sound better

When offering your customers any kind of a quantity discount, you'll get better results when you choose the right wording. Example: 'If you were to buy these widgets individually the price would total two hundred and eighty-seven dollars. As a package though, you get the whole set for two fifty-five.' The second number sounds much lower because a) the second and third digits are both lower than those of the initial number. And b) the package number is expressed without using the words: 'hundred', 'and', or 'dollars.'

One Call Worth Making

As you explore ways to grow your business, often the first tactic is to approach potential customers who aren't aware of you. That's the last thing you should do. People who haven't heard of you may have no need or desire for your types of offerings. As I point out in my presentations, a sale only begins when a customer perceives a need. You'd be better off reconnecting with people who contacted you in the past about your services, but who chose to go with another supplier. The key is to do two things when you reconnect: 1. Point out up-front that last time it 'wasn't a fit'. 2. Explain how your offerings have improved. That's it. Since time has passed, the proverbial honeymoon may now be over with the other supplier. And you're demonstrating that your company is innovative and that you follow-up. Not bad for one call.

The Truth about Generating Customer Referrals

You're likely aware that volumes have been written about how to grow your business through customer referrals. Most strategies focus on customers providing names for you to contact. I've talked about the flaws of this approach in other 30-second tips. For today's tip, my point about referrals is simply this: 'If customers aren't referring you it means your service is not remarkable.'  I mean REMARKable - literally.   Customers need to first notice your service, then talk about it. The problem is many customers are so focused on themselves that most of our services go unnoticed. That doesn't mean you need to jump through hoops for attention. It does mean you need to communicate differently. Contrast asking a customer, 'Do you want us to drop it off?' vs. 'Would it be helpful if we dropped it off for you?'  Same offer - different words.   The second however, is more likely to generate referrals.

A Truth that may Shock You

As you plan strategies for growing your business, consider this shocking irony of marketing. The people and organizations that need your services the most are often the last ones you should be targeting. For example, people who live paycheck to paycheck would benefit by engaging a professional financial planner. Unfortunately, they may be financially strapped because they choose to buy lottery tickets instead of putting that same money into an RSP. As a financial planner, you'd be better off targeting higher net-worth individuals who use financial planners; focusing those who sense they are not getting enough attention from their current planner. That's why - when you're talking with an ideal potential client - less of your message needs to be about your product and service benefits. And more of your message should be focused on what makes your services different than others in your industry.

Can I Speak with the Manager?

As a manager who sometimes deals directly with customers, are you too popular? Do customers, phoning with minor questions, often ask to speak with you directly - even though your frontline staff could take care of them? While it's flattering to be in demand as a manager or business owner, it's a poor allocation of resources. The challenge is how to get your customers to willingly opt to deal with frontline employees. My suggestion - have the employee say to the caller, 'Pat isn't available right now. If you'd like to leave a message she typically returns calls at the end of the day. Or perhaps there's something I can help you with right now?' Also a tip from my call centre seminars - ensure the employee enunciates (crispens consonants and rounds-out vowels) and speaks with a slightly lower pitch. That way, customers sense they're already dealing with an intelligent competent person.

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