Yellow Dog Consulting

Sales & Marketing Consulting for solo-preneurs.

Don’t Negotiate

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images-1I’m not a big fan of negotiating. I know that sounds weird if you know me, and as someone in sales. And, I LOVE a good deal. But in business, I’m not a fan of negotiating or discounting rates. Your rate is what you have decided you’re worth. And, your clients are paying you for that, so it’s proven that your rate is valid. But negotiating your rate makes it look like you don’t think you are worth what you say you are.

I recently raised my rates, and instead of negotiating or putting clients on a sliding scale, as their contract came up, I simply said:

“I’ve recently reviewed my rates and found you’re getting a great deal! I have looked at what others in my industry are charging and have increased my rate to $XXX, when we setup your next Statement of Work, it will be at this rate.”

No room to negotiate. Have a lost clients? One. And the next day I talked to a new client who didn’t flinch at the rate. I also had a client email me and say he’s not leaving unless I fire him. I want clients who want to work with me, and have the budget to do so. I don’t want clients who will stress out every time my invoice shows up in their inbox. I’ll gladly negotiate the work we do and the hours of work that happen, but you have to pay me what I’m worth.

Your Rewards Program is STUPID

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imagesIf you know me, you know I love a deal. Make friends on Twitter, Check in on Foursquare for a free XYZ. It drives my husband nuts, but often works out to his advantage. There’s a variety of ways you can reward customers, and the hotel rewards program is one of the longest, AND most confusing of them all.
My husband and I just got back from a trip to New York City to celebrate our 10 year anniversary. It was AWESOME. We had a great time, amazing food, and stayed at a cool hotel in midtown. When we checked out of the hotel on Monday, I mentioned that I had joined their rewards program online and could they please apply this stay to my account. And then this…

Front Desk: did you join the program AFTER making your reservation?
Me: Yes
Front Desk: Sorry, we can’t credit you, but it’ll be good on your next stay at any of our properties!

Fun fact: there won’t be a next time.

I just spent a LOT of money at your property. I’m not asking you to retroactively credit EVERY stay for the past 2 years. I joined BEFORE we stayed here, not after. I joined your “club” because of this stay, I’m sorry that your website didn’t do a good job of getting me to opt in while making the reservation.  That’s not my fault. But your program is STUPID. I’ll stay elsewhere next time.

If you have a membership or rewards option don’t be like these folks. A newbie special is great, but don’t forget that you’re alienating all your current customers by not letting them in on a deal when they paid full price to join you. I’m not saying give away the farm, I’m saying don’t forget to reward LOYALTY.

Guest Blog: A Visual Sales Strategy

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StrategyLast month at my NWEN workshop- I met Oswald Norton of Executive Coaching NW. He shared this sales strategy tool that helps to visualize and coordinate your sales efforts. I thought it might be helpful for those of you who are more visual!

Creating a strategy for your Authentic Selling Campaign is one way to create a step by step process for a successful outcome. CultureSync, a company focused on cultures that collaborate, taught me how to create strategies using this picture.

I’ve used it so often that whenever I launch a new marketing campaign, I always have it in mind.  It has four essential components: Your outcome, Your assets, Your actions and Pitfalls.

Outcome:

Start with the outcome you want to achieve by the specific date you want to achieve it.  This outcome assumes that you know what you do and is focused on a target market. Example: Your outcome is to increase this quarter’s revenue by 25% over last year’s revenue for the same quarter.

In order to achieve your outcome you need both assets and actions.

Assets:

Assets are defined as anything that you can use to achieve the outcome.  Examples include: your network, your product, your employees, and companies like Yellow Dog Consulting that can help you focus your message, or add marketing tools to your assets.  You may also have assets you want to create that you add to this list as a TBD.

Actions:

Actions are defined as any action that you take to increase your assets.  The goal is to make your assets grow to such an extent that they cause your outcome to be achieved.  Examples: One of your assets is a list of current or former customers you know will need your service(s) in this quarter.  The action is to re-educate them on your services and how your services will aid them in achieving their goals.  You will message them through a marketing campaign that you will launch in time to achieve your outcome by the date you’ve set.  You may also have a target market of potential clients, those that are TBD in the asset column.  Your action is to develop the contact list of these potential clients.

Pitfalls:

Pitfalls happen any time that you allow yourself to get distracted from the actions you’re taking to create more assets. It can be anything from focusing on a great new market, to allowing yourself to believe you’ll never achieve success.  The trick is to recognize a pitfall and create an action to get you back on track.

I train teams to use this tool to accomplish both small and large projects.  If I can help you strategize, I hope you’ll contact me at Executive Coaching NW.