We’ve talked in prior posts about “self awareness.” It seems that same competency should be used to look at your own business–unemotionally–as a 3rd party might.
And since the Big 3 Auto business is in the news, I thought we’d use that as a leadership example
If I Were In The Auto Business…
I did not graduate with a Harvard MBA so this might not be worth much to those who did. But as a trainer/consultant in the area of revenue excellence, I would recommend these two changes to sell more cars. (Afterall, that’s their problem).
1. I Would Recognize the Selling System is Broken.
Not sure who said it but it’s worthy of repeating. Changing parts of a broken system still results in a broken system. In the automotive system, the sales process is broken. How many times have you heard someone rave about the car buying process? Seldom. Why don’t the Big 3 see that? Are they that blind? Have they never asked the question in research?
And for those car execs, did they not teach “human nature” at Harvard?
What about your business? Is your selling system a great experience for your customers? If not, why not? Have you spent any time recently with your Exec team talking about ways to improve it? In 2009 spend time on that. One way to do it is model your sales process after companies who have nailed it. Go in to an Apple store sometime. Wait til after the Holidays, because you’ll get pissed coz’ it’s too crowded.
Oh, wait a minute, that’s a good thing. Are there lines outside your proverbial ‘door’ begging you to sell them something? There’s not?
Well, then get to the Apple store immediately and see what’s going on. Take notes. Take pictures. Take notice.
Isn’t it remarkable how little time we spent improving the very thing that can grow our business?
2. I Would Work on Client Retention
2009 will be the year of client retention. Are you investing any resources in the client relationship? Not just talking about taking them to lunch occasionally. The auto business spends $0 on this. Even the premium car companies are lousy at that. I get more attention from my Nordstrom person after buying a $500 suit that I ever have from an American car company after buying a $40,000 car.
This is really broken.
So what about your business? What are you doing on a regular basis to keep and grow clients?
- Are you offering special “clients only seminars” where you bring in keynote speakers who offer unbelievable knowledge to your clients?
- Are you publishing “how to” guides for your customers to help them grow their business?
- Are you assembling your clients for user forums so they can network together?
- Are you, the leading Executive calling your top clients and saying ‘we really are glad your a customer?
If not, is it because your team has bought into the worn out belief that you should never show emotion in the client relationship? Or that you’ve never done it this way so why begin now? Or is it you just aren’t curious about how to improve your business?
In our Execuctive Coaching we say, “take of your blinders and look around.” It’s amazing what we can learn when we raise our head above the day-to-day and notice.
And we can learn a lot from the Big 3. Not how to do it….but how NOT to do it. So, open your eyes wide and as you are critical of the Big 3, look closer at your business. Maybe you have the same problems–but you don’t see them because you’re too close to it.
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Your point about client retention is dead on. So many companies focus all their efforts and dollars on customer acquisition and so little (often nothing) on continuing to cultivate the relationship with the clients who have already bought from them. It’s a lose/lose proposition.