Search Results

By Sid Chadwick, Chadwick Consulting, Inc. – 08/21/2020 Published in American Printer “Face-to-face meetings, video chats and phone calls — all beat email when it comes to perceptions of authenticity…a study shows”……The Wall Street Journal, Summary Report from — Journal of Applied Psychology INTRODUCTION: Most… top-performing Business Development professionals…. know…that if they can obtain a personal audience…. with their target prospect — they’re half-way home to success. Professor Brodsky, at the U. of Texas, Austin, developed three groups and studies….with (a) 519 full-time American (front-line) employees…..(b) 400 American managers…..and (c) 600 or so parents and teachers at an international school. Research Issue: How effective is the communication, when the message is the same — but the medium is different? “Realistic scenarios were presented to the 1,500-plus subjects — who then had to evaluate the credibility of the sender…. If the message is identical, how sincere does the sender seem to be when communicating…?” “The best way to communicate turns out to depend on how transparent you want to be about your emotions…the richest medium is…a face-to-face meeting…. if possible…” “Email is seen as massively inauthentic….it’s the best for hiding your true colors…and the worst in terms of how honest the sender is perceived to be”….his studies show. “If something is easy to fake…we don’t trust it.” SUMMARY: Covid-19…. has not shut our industry down….”Print”… is still perceived to be authentic…accountable….and trustworthy….. We have clients…who are meeting with their employees…weekly….even daily…where there is perceived employee stress and concerns…..those clients…tend to be ahead (or nearly ahead) in 2020 revenues….over  2019…and on schedule to make a profit…in 2020….! We can hide behind our email screens….or we can develop scenarios that encourage…that patiently invite…. the other party — to see us…and understand us. There are more options than we are exercising….such as personal notes and samples (via USPS or Fedex) — and Zoom…some of us are scheduling multiple Zoom sessions — each week — even each day..as transparency….IS important…..! One day our great industry will look back…and say, “We didn’t ask enough questions…..and… we didn’t demand accountability….” Question: How can you use this newly released study of “Communication Medium Effectiveness Comparisons”….in Customer and Employee Education…and Self-Promotion….? Does someone need to inform Google……?(Do they possibly already know….?) “Creative minds have been known to survive any sort of bad training…” ………Anna Freud

By Sid Chadwick – 08/29/19 Published in American Printer “We work to take a long-term view…of prospects we pursue…. as much as 6 to 12 to 18 months…..and we approach these opportunities as a Total Team…..particularly including our Production personnel…which is much why we don’t need an outside Sales Rep…..and gained over 30 new Customers in the last 12 -18 months”…………………..Steve Crowe, President, Oregon Web Press INTRODUCTION: Why take …a long-term view….a strategic view…..of everything you’re about…..based on… “Value created for target customers”……”Value recognized by target customers”…… What that opening quote didn’t say…..is that they, OWP…..as a company…. are in the market…. for significant….additional Press capacity….in the next 6-12 months…….. How many web printers do you know….who tripled their revenues…..over the last 11 years……? SUMMARY: What’s required for………..long-term prosperity…..? Does your next-generation ownership….really understand….all those pieces….and especially critical values… that are not on your balance sheet……? Are we honestly in business to develop and serve customers……as a Total Team………..? Does your Production Team really feel it’s a critical part…. of the success of the company…..receiving genuine, frequent acknowledgment….and collaboration……or does someone else…usually….often…… stand-up….. and thump their chest….? Doesn’t that level of sustained performance….require us to develop a……culture….. including…. all departments….and… especially Production…. for looking after your customers….and …..keeping your promises…. …….look at that opening quotation….which is what that President….in a Conference Call to one of our Association-sponsored (PICA) Programs, with no coaching from me….candidly said……to attendees……. Why is it NOT a surprise…that 25 of their current customers……offered to provide….. a Referral — on their most recent Customer Survey…..! Doesn’t clarity of a long-term vision…..including… critically supporting values……assist with every decision made…(truthfully….you can’t fake development of….. “mutual respect”…. within an organization)….. There’s so much more to this evolving story……there always is……….. “…Who does not thank for little, will not thank for much…”…Estonian Proverb

By Sid Chadwick, Chadwick Consulting, Inc. – 08/16/19 Published in American Printer “I’m in good company…in this paradigm shift….from Outside Sales… to Inside Sales…with a Plan to Move Forward”….Assoc.  Sponsored Program Attendee INTRODUCTION: Whenever in doubt regarding what to do next, look closely…at the marketplace, and how it is changing. ……and especially regarding buyers’ needs…….. Here goes………. Buyers…generally….don’t have time to waste…e.g., “entertainment of buyers for gaining business”…today…. is not what it was — 30 years ago……20 years ago….or 10 years ago….! “New Buyers”… especially….. don’t have time to waste….there’s too much to learn….and get done….with almost no written instructions…. Sales Reps…experienced or new….. without… “useful information” to share with their buyers….tend to waste their buyers’ time….and tend to not receive follow-up appointments. Experienced Sales Reps…without useful information to share…tend to recognize that they should not waste their buyers’ time….so many of them… avoid making needed Sales Calls….. New buyers — tend to move to those few suppliers, who are most helpful…..(From our Customer Surveys, we see approximately 35% – 45% new buyers — every 12 -24 months… at major accounts.) Sales Reps, who take a “protective position” re. their customers, are all but guaranteed to lose those accounts, in time. (They tend to not allow needed, prompt… CSR support — directly to the buyer.) When Sales Reps invite CSR support, your CSR tends to become THE “Inside Sales Rep” — to that buyer. Those buyers know they get more accurate, prompt information — from their “Inside Sales Rep”/CSR — sooner. Also: “Inside Sales Reps” — can effectively, proactively contact at least…5X the number of customers — each day…..as an Outside Sales Rep. “Inside Sales Reps” — when trained to be proactive, can be effective — developing new business — from both current customers, and new customers. SUMMARY: At the end of yesterday’s Association Sponsored Program….I had three clients –call-in… to talk to Program attendees on a speaker phone  – three clients — with successful “Inside Sales Rep Programs”. They each had a slightly different story to tell, because each company — has a different equipment configuration, and different culture, in a different geographical location. Next Step for Program Attendees: Deliver an Education &Training Program — for Inside Sales Reps --- to quickly become successful --- developing business, that outside Sales Reps --- are not developing. As fate would have it, today, about 12:00 noon, a long-term client called and said, “I need an effective Inside Sales Rep — who can deliver $20,000 to $40,000/ month — of additional business….Can you make that happen for me?” My response, “We can find and train that person for you….and within 90 days of hiring, with your company’s capabilities — that person should be hitting the $20,000/month target.” My opinions include: That our industry’s overall soft revenues reflect — NEGLECT — of Customer Education…and…. Proactive, Meaningful Customer (Service) Contact — of Current Customers. In other segments of our economy….when an important product does not receive great, reliable performance… and especially SERVICE…. that Product Brand Name — becomes Trash…a Pariah…..It’s true of autos…. it’s true for computers…. it’s true for food companies… it’s true of appliances. And it’s true for Commercial Print…………. “Beware the fury of a patient man”………………………..John Dryden

By Sid Chadwick – 07/19/19 Published in American Printer “What ROI should I expect on this project investment..?”….President, Client INTRODUCTION: Indications were that her company was ready for the next stage of development. Her Director of Business Development was on record, saying, “I’d only develop Inside Sales Reps……. if I had my choice.” But her Inside Sales Team — was not what her ROI question was about. My response: “I don’t really know how to answer your question…. I’m proposing that you invest between $7,000 and $8,000 in our Customer Survey Process, which requires about 90 – 120 days….with a guarantee…. of well over $300,000 in new, repeat business — from current customers…at “current customer” margins. How would you calculate that ROI…?” SUMMARY: Of course, we learn much, much more — in addition to — what else your customers would like to buy…..that they didn’t know you could supply…… What’s it worth to learn which of your customers are only awarding you 11% of their business…? What’s it worth to learn which three of your top 10 customers are willing to tell you that you aren’t very important to them….? What’s it worth to learn which two of your customers carry grudges over previous disputes, which explains why you don’t receive much business from them recently (and there’s always intense pricing pressures)….? What’s it worth to learn which customers want to see your Sales Rep more often….if…..he/she improves the value of their Sales Calls….? What’s it worth to learn which seven customers want you to take over their “Storage & Fulfillment”……?    (Really…? Yes… really….!) Of course, there’s much, much, much more to be gained…….If this beginning “Introduction”….. doesn’t get your blood running hot….whatever else I could say wouldn’t be worth your time. Our economy is expected to run strong….for another ten years….yes…? “Desire is half of life……indifference is half of death.”…….Kahlil Gibran

By Sid Chadwick – 07/19/19 Published in American Printer “What ROI should I expect on this project investment..?”….President, Client INTRODUCTION: Indications were that her company was ready for the next stage of development. Her Director of Business Development was on record, saying, “I’d only develop Inside Sales Reps……. if I had my choice.” But her Inside Sales Team — was not what her ROI question was about. My response: “I don’t really know how to answer your question…. I’m proposing that you invest between $7,000 and $8,000 in our Customer Survey Process, which requires about 90 – 120 days….with a guarantee…. of well over $300,000 in new, repeat business — from current customers…at “current customer” margins. How would you calculate that ROI…?” SUMMARY: Of course, we learn much, much more — in addition to — what else your customers would like to buy…..that they didn’t know you could supply…… What’s it worth to learn which of your customers are only awarding you 11% of their business…? What’s it worth to learn which three of your top 10 customers are willing to tell you that you aren’t very important to them….? What’s it worth to learn which two of your customers carry grudges over previous disputes, which explains why you don’t receive much business from them recently (and there’s always intense pricing pressures)….? What’s it worth to learn which customers want to see your Sales Rep more often….if…..he/she improves the value of their Sales Calls….? What’s it worth to learn which seven customers want you to take over their “Storage & Fulfillment”……?    (Really…? Yes… really….!) Of course, there’s much, much, much more to be gained…….If this beginning “Introduction”….. doesn’t get your blood running hot….whatever else I could say wouldn’t be worth your time. Our economy is expected to run strong….for another ten years….yes…? “Desire is half of life……indifference is half of death.”…….Kahlil Gibran

By Sid Chadwick – 06/07/19 Published in American Printer “It is not enough to be busy…..The question is: what are we busy about?”…………Henry David Thoreau INTRODUCTION: Recent columns focused on understanding better what individual customers want from their suppliers…and how to escape being a “Commodity Supplier” — winning on Price. Here’s one approach in which I would use “Customer-specific” and “Buyer-specific” – information — in my Quoting Process. Have you ever had the opportunity to notice how most suppliers Quote Letters — look very similar? Traditional Quote Letter: Quote Recipient: (From Commodity Supplier – including date, Customer’s name, Buyer, Quote No., etc.) Dear Ms. Smith: Project Name and Specifications Specs Specs Specs Price:  $$$$ Non-Traditional Quote Letter: Quote Recipient: (From Non-Commodity Supplier, incl. date, Customer’s name, Buyer, Quote No. etc.) Dear Ms. Smith: We understand the following issues to be important to you and your organization — for this project: You would like to receive an email in advance of receiving the Proof, notifying you when to expect the Proof for this project. (This serves you and us — for coordinating the Proof review, and a speedy Proof return.) You would like to receive an email in advance of Delivery, notifying you when to expect Delivery, with Delivery – preferably before 3:00 pm. You would like our Invoice to reference your P.O. and to not contain additional charges without prior notice, that you approve, in writing. Project Name and Specifications Specs Specs Specs Price: $$$$ I ask you when putting theses two Quote Letters side-by-side, which one grabs your attention, and which one elicits the generally unknown Dept. Director's comment to the Buyer, "Looks like only one supplier understands what we want....!" I’ll never forget the doubting Sales Rep who, hesitatingly — used this process with a major jewelry chain Buyer. She called him the next day, asking what the new, additional information on his Quote — was about. He explained that he was trying to gather more and better information, and those new items on his Quote Letter were part of what he’d learned about what she really wanted — in addition to the project’s specifications. Her Response:   “Well………those items caused me to think of two more I’d not told you….and I’m writing those two on the P.O. I’m sending you.” SUMMARY: How well we gather and use Customer information (and especially Buyer-specific information) — determines what we accomplish. Every customer has biases, grievances from insensitive suppliers —  and nuances — about how they want things done……….and not done. Only a few smart Suppliers, working to overcome “Low Price Wins” — puts those principles into day-to-day communications practice — supported by their Customer Profiles — of information gathering. “I am always doing that which I cannot do….in order that I may learn to do it.”…………..……Pablo Picasso

By Sid Chadwick – 04/18/19 Published in American Printer “Keep away from people who try to belittle your ambitions. Small people always do that….but the really great make you feel that you too, can become great” ……………………………..Mark Twain INTRODUCTION: For example, “What are you doing to prepare and develop your potential Business Development resources into becoming an effective “Inside Sales Team…?” (If you aren’t…..may I ask, “When was the last time you hired…and retained…. an effective Outside Sales Rep?”) For an Inside Sales Team, Several Instructional Options: Do you track, report — and expect — that every “Quote Letter” is personalized, explaining in your Quote letter why you should win the work, including what you know that is important to your buyer — beyond specifications? (Or….do your Quote Letters….look terribly similar to your competitors…?) Is every Quote letter followed-up with either a phone call or email, asking, “Did you receive our Quote for Project (name of Project)?” Do you have your CSR’s/Project Mgrs/Inside Sales Team… following-up on all still-outstanding major Quotes…for purposes of “Winning more profitable work”…? Do you have your CSR/Project Mgrs/Inside Sales Team… calling “Neglected Customers”, conveying what’s new in your company, re-introducing your company to new Buyer personnel, and asking about “What’s new”…at the Neglected Customer’s Company? (My guess: you have well over 150 Neglected Customers, if we go back only two years, to identify who no longer buys). Do you move into an immediate “New Buyer Program” — whenever there’s a change in Buyers? Do you “reintroduce” your New Buyer, with an invitation to visit your plant, and what you are capable of producing? (Our smallest client sends a personalized “New Buyer’s Guide” — to profound results.) Do you follow-up with the Buyer — who left, for developing a new customer? (Do you track this follow-up requirement, to insure it happens..?) Do your CSR/Project Mgrs/Inside Sales Team notify by email your Buyers — in advance — when to expect their proof …in order to coordinate and accelerate “Proof Reviews”….? Do you ask your CSR/Project Mgrs/Inside Sales Team — to document, “What are this customer’s performance priorities — for this year, or this quarter…so that you can be proactive in future contacts…..?” Do you ask your CSR/Project Mgrs/Inside Sales Team — to call all major customers and non-profits in the 3rd month of every quarter, asking if they have funds they might lose if not spent, and can you assist with “Advance Invoicing”? If you don’t win a project, are your CSR’s/Project Mgrs/Inside Sales Team expected to send the Buyer a “Thank you Note” — either hand-written or by email, thanking them for the opportunity, and again assuring your Buyer that you are available if the project, its proofs, or delivery date — run into trouble. Do your CSR’s/Project Mgrs/Inside Sales Team — call or email your customer with “project updates”, and an advance notice of when to expect delivery…? Do your CSR/Project Mgrs/Inside Sales Team — email your customer on when delivery occurred, and who signed for the delivery…? Do your CSR/Project Mgrs/Inside Sales Team notify the Customer, in advance, when delivery will be delayed, explaining why. (Do you track when this occurs, to insure it doesn’t happen again, anytime soon..?) Do you track how often your CSR’s/Project Mgs/Inside Sales Team — make contact with assigned Customers…? Do you review, at least Quarterly, each Customer’s purchases, compared to the previous year, same period….asking, “Why?” SUMMARY: “Change”….. outside our great industry….is happening faster than inside our great industry.  (Other industries have been developing their Inside Sales Team…for more than a decade.) As an opinion, the #1 and #2 reasons for losing customers are: (a) Changes in Buyer personnel (with no proactive introduction of the new Buyer — to your company), and (b) Lack of proactive contact, with meaningful information. Are there “Standards of Service and Conduct” — in serving Customers in your organization? Are those Standards reviewed, monitored, and respected….? Do you pay a modest but meaningful commission, in addition to a fixed wage, to those willing to step-up and represent your Inside Sales Team — contacting Neglected Customers, contacting target prospects, and negotiating and winning profitable work — that’s meaningful to your organization’s future….? The best Inside Sales Team Reps I know, are more profitable to their organizations….even outperforming…. their Outside Sales Rep counterparts. “You can be discouraged by failure — or you can learn from it. So go ahead and make mistakes. Make all you can. Because, remember… that’s where you’ll find success. On the far side.”………..Thomas Watson, Sr.