The Weekly Buzz – On the Fly
Are you ready for a physics lesson? How about a sales-is-physics lesson? At Maestro Group, we often riff on Newton’s First Law by saying that “A deal in motion stays in motion, a deal at rest dies.” Sometimes, you can also learn from Newton’s Third Law: “For every action there is an equal and opposite reaction.” Now, I’m not adamant about “equal” and “opposite,” but it is very important to be ready to respond to any client or prospect action. This week we were thinking about how flexible, responsive behaviors can be transformative in every area of business.
One industry that is ahead of the curve on responsiveness is software development. We work with a lot of startups that have adopted an agile development model. In many cases, it establishes a foundation of improved client communication and increased accountability. Feedback is key as new features are iteratively developed and tested. Agile can cut down sharply on product delivery disasters where the client is surprised to receive something that isn’t really what they were asking for.
Get Dynamic With Pricing
In retail, surprise surprise, Amazon has been a trailblazer for shortening the time between a change in market conditions and a response. They have experimented for many years with algorithms that alter prices frequently based on closely guarded factors. It makes for a challenging environment for competitors and even for manufacturers, but PYMNTS has some constructive suggestions for how to use responsive pricing advantageously.
Listen to Your Listeners
Presentations and demos are a context where salespeople often find themselves needing to think on the fly. Even if you are very well prepared, sometimes you will realize that your audience was expecting something else or looking for something else. In his blog post this week, Maestro senior trainer Kevin talks about how a seasoned, skilled salesperson is able to react well in those situations, listening to the prospect and responding to their needs.
Have you subscribed to Field Test yet? This week’s sales choose-you-own-adventure deals with what to do when prospects expected something different from your pricing model.