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10 NOVEMBER 2008
Welcome Back to The Cheshire Group Newsletter


This is the 21st issue of The Better Mousetrap. Many of you have joined our mailing list after the first issue. So we have archived all the 20 previous issues on our web site. It is easy to review all of them. Just click here for the list or go to the Cheshire Group web site and click on the link that says The Better Mousetrap E-Mail Newsletters.Morsels From The Better Mousetrap

    We hope that you are continuing to enjoy The Better Mousetrap Online Newsletter. Many of the articles in this newsletter come from our book, Morsels from THE BETTER MOUSETRAP. Just click here to order your copy. Or visit our web site at www.cheshiregroup.com so that you can learn more about The Cheshire Group and see samples of our work.
   


SHUT UP AND WRITE THE ORDER
You have to know when.

A fellow we once knew, and whom we'll call Fred, decided to become a salesman. He'd never sold anything except some raffle tickets when he was in the eighth grade, but old Fred was bewitched by an offer from the Bose Corporation to train individuals to sell their new product. He decided he could become a salesman for the Bose Acoustic Wave.
    Now it's important to get a few words in right here about the Acoustic Wave and Bose's unusual sales approach.
    The first generation Wave was a shiny, silver, high tec radio/tape player that delivered soundBose Wave Radio clear enough and bright enough to blast you out of your socks. And Bose sold it through direct sales only. You couldn't buy the Wave retail. You had to buy it one-on-one through a Bose Salesman.
    Now the Wave wasn't cheap. It cost around $800 and if you wanted a carrying case, it was 75 bucks more. But the commission on one sale could make a salesman pretty happy.
    Fred had to go to Bose school for sales training. The Bose people were particular about technique. Picky even. They wanted their salesfolk to follow a party line right to the letter because they knew that when their sales staff did that, the chances of a sale were excellent.
    Fred though he knew better.
    The first appointment he got to demonstrate the Wave couldn't have gone better! The prospect, who had been salivating over the Wave right from the start, was mightily impressed by the sound.the silver box blasted out.
    "I'll buy it!" he declared.
    Fred was furious to have his sales line stepped on and the process cut short. The sales speech was to be Fred's moment in the sun, and he very much wanted to hear what he had to say.
    "But you can't do that!" he cried in frustration. "I haven't told you all about it yet."
    After that first awful experience things just got worse. Fred went to great trouble to short-circuit prospect's attempts to purchase the Wave before the sales spiel ended, He alienated his customers. And worse—he bored them.
    Fred's career as an Acoustic Wave salesman for the Bose Corporation ended badly. He sold only two units, drove several prospects to other salesmen, then quit to sulk in bitterness and frustration.
    The moral: know when to shut up and write the order.

 

THE 80/20 RULE REVISITED.

Everyone knows the 80/20 rule: 20% of the people in any given organization do 80% of the work, contribute 80% of the revenue, show up 80% of the time. Conversely, 80% of the people do 20% of the work, contribute 20% of the revenue, show up 20% of the time. From volunteer organizations to the federal government, the 80/20 rule holds.
    You can probably site examples of the 80/20 rule in your company, business or club.
    Now consider applying the rule to troublesome clients or customers. 80% of your tsouris [headaches] come from 20% of the folks you serve,80/20 rule right? So if one or two customers are driving you crazy and are draining time and energy away from away from more reasonable clients, maybe it's time to politely—but firmly—part your business from this minority.
    Suggest that another firm or individual might might be better able to work constructively with the troublemaker. Offer to supply a list of your competitors.
    There—you've just killed two birds with one stone.

 

THE LAST LAUGH.

The sales manager needed the slide presentation by Tuesday. It was Thursday morning when he called the ad agency in and explained his needs.
    "Can you get the job done?" the sales manager asked.
    "Well, this is Labor Day weekend," the account exec pointed out, "there'll be some overtime charges but, sure, we can get the job done. I'll have the quote for you within the hour."
    One hour later the account exec was back in the sales manager's office to present the quote and to pick up the materials that would have to be rushed through for the presentation.
    "Wow!" exclaimed the sales manager, staring at the quote. "The guy down the street gave me a quote for half this amount."
    The account exec shrugged. "Then have the guy down the street do the job."
    "He can't do it in time," the sales manager whined.
    The agency guy gave this response three beats. Then he looked the sales manager right in the eye. "When I can't do a job in time," the account executive said, "I'm cheaper too."
    The ad agency got the job.
    


WHY CUSTOMERS LEAVE.
Courtesy of Target Marketing Magazine.

    • They die, or are no longer buying in your category.

    • They are unhappy with the price.

    • They are unhappy with the product.

    • They are unhappy with the way that they are treated.

Next issue of the Better Mousetrap will have a discussion on ideas to help keep customers from leaving.

Shut Up and Write the Order,

The 80/20 Rule Revisited.
The Last Laugh.
Why Customers Leave.

 

 

 

 

 

"Say what you have to say and sit down. The most important thing is to sit down."

Advice on public speaking heard on NPR

 

 

"It's all too common for sales people to spend a half hour selling their services and two hours buying them back."

Michael LeBoeuf

 


"After you make your sales pitch shut up. The next person who speaks...
loses. "

Unknown

 

 


"Get rid of things or you'll spend your whole life tidying up. "

Marguerite Duras

 

"Build a better mousetrap and the world will beat a path to your door."

Ralph Waldo Emerson

You can build it but they don't have to come. Let your market know the product is there.

Advertise!
Promote!
Communicate!

THE BETTER MOUSETRAP helps you do it. To do it even better call The Cheshire Group at 978 664-3040 or visit us at:
www.cheshiregroup.com

Please send us an email and let us know your thoughts on The Better Mousetrap.
Your comments and questions are welcome.