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Grant Cardone's Sales Formula

March 21, 2013

Advertising = Leads Prepared People = Sales This sales formula sounds simple but there is more than enough proof to demonstrate that retailers are spending all their time on promotion and no time in preparing their people. (Call me to see a disturbing video that demonstrates this point that has already made one business owner throw up.) The number one reason retail organizations struggle to maximize opportunities is not the advertising portion of the equation but the Conversion or sales portion of the process that is dependent upon your receptionist, sales department and sales managers. Advertising has become so complex that a marketer can deliver a targeted retail message to a customer through virtually any medium and successfully engage them. So why are retailers struggling today? The answer is clearly not advertising but ensuring your sales team is aware of your marketing and is prepared to land your traffic on the right product - build value and then write up and close the transaction. Think for a moment how fragmented our shopping experience has become. In the past the customer was inspired by an ad and would drive to the local mall or retailer and choose from a selection of items that may or may not have been the ideal product or service to fulfill their needs. It just isn’t like that anymore. Today’s consumer is inspired by an ad, goes to the internet does as much as 11 hours of research, then phones or emails your company and then, if you are good enough, may set up a time to visit your showroom. Regardless if you are a brick and mortar or online retailer, chances are you are engaging with a customer that is clearly better informed and aware of their choices. In many cases the customer is equipped better than your sales team - that is not fair to either the customer or your sales people. You can implement all of the interactive marketing solutions and saturate your entire market with direct mail. You can buy Facebook fans, promote on all the social mediums, have a BDC, internet department but none of that will result in Conversion if you don’t have a prepared salesforce to identify the customers' needs, land them on the right product, build value in that product and then sit the customer down and present a proposal that can be closed. Test this for yourself. Stop what you are doing and call your own organization and ask them about the current campaign. Then ask yourself these questions:
  1. Was your salesforce aware of all current promotions?
  2. Were they prepared to discuss the details of those promotions?
  3. Did they attempt to convert a shopper into an appointment and create a conversion?
If you have any doubt or answered no to any of these questions, then you have identified why your advertising may not be getting you the ROI and the results your people want and deserve. You have a people problem not an advertising problem and no amount of advertising will handle that until you provide your receptionist, sales people, BDC, internet department, and managers with the proper preparation and training for each of your promotions. The best advertising in the world can’t overcome an ineffective sales process. Prepare your staff to Convert Every Opportunity with our web based platform that shows your people how to engage and convert promotions into closed transactions. Call (800) 368-5771 now and I will show you how you can ensure each of your departments is ready to maximize every promotion.

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