Mark Jewell's Blog: Selling Energy, page 284
February 10, 2016
Reframing Efficiency for Healthcare
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Today, we’re going to discuss how to reframe the benefits of efficiency when selling to prospects in the healthcare industry.
Non-profit healthcare: How much additional revenue do you think a non-profit healthcare organization would have to capture to equal $1 in energy savings? I think you'll be surprised to learn that it's $20 in new revenues for hospitals and $10 in new revenues for medical office buildings.
A Budget Director at a non-profit healthcare organization is probably not going to get up in the morning and say, "I wish I could save some terms today" or "I sure hope I can save some kilowatt-hours when I get to the office." Rather, he or she is far more likely to say, "How are we doing with revenue growth and profitability? Do we have positive figures to report to our backers? What do we need to do to remain viable financially?"
Bottom line, if you say to your prospect, “Every dollar that you save in energy is equivalent to getting $20 in new revenues,” you're telegraphing something that they care about and using a yardstick that they use regularly to measure their own success.
For-profit healthcare: In the for-profit healthcare industry, every 5% reduction energy cost can boost earnings per share by a penny. That would mean a hospital, medical office, or nursing home that is publicly traded would likely experience a one-cent increase for every 5% reduction in energy cost. When you’re selling in the for-profit healthcare sector, earnings per share is a very significant metric, and it’s one that would help your prospect immediately see the value in your project.
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February 9, 2016
Compel Your Prospects with Benefits
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In selling efficiency, there are three main “value categories” that you can bring to the table when proposing a project: utility-cost financial benefits; non-utility-cost financial benefits; and, non-financial benefits. The more benefits you can come up with in each of these categories, the more value your offering has (and hence, the more likely your prospect will approve the project).
If you can come up with new, significant benefits for your product or service through brainstorming, research, and discussions with past clients, you’ll increase the strength of your value proposition. I like to share real-world examples on this blog from time to time as a way of getting the wheels spinning in your mind about what sorts of possibilities are out there. The following example comes from Nualight, an LED lighting company based in Ireland:
To determine the full benefits of an LED retrofit in the frozen section of grocery store, Nualight collected before-and-after data on a grocery store that replaced fluorescent lights with LEDs. In addition to the expected benefits (lower utility bill, longer lasting bulbs, less required maintenance, etc.), they found that this particular grocery store had 19% higher sales in the wake of installing LED lights. In the grocery business, utility costs are significant; however, the utility cost savings in this case are far less compelling than the increase in sales.
According to the study (which you can find HERE), the retrofit resulted in a payback of only five months! The report notes that an increase in sales of even 3% would be enough to reduce the payback to less than one year.
So what’s the moral of the story? Go out and find compelling benefits for your products and services – particularly those that fall into the non-utility-cost and non-financial buckets. If you only focus on the most obvious benefits, you’re leaving potential business on the table.
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February 8, 2016
The Accidental Salesperson
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The word “sales” often has a stigma attached to it. For many people, it conjures up images of the stereotypical “pushy” used car salesperson. Customer-facing professionals who are not in traditional “sales” roles may be reluctant to identify as “sales professionals” as a result of this stigma. I firmly believe that all customer-facing professionals – regardless of their official job title – must understand the fundamentals of professional selling.
If you are in a customer-facing role and do not have a background in selling, I highly recommend reading The Accidental Salesperson: How to Take Control of Your Sales Career and Earn the Respect and Income You Deserve, by Chris Lytle. This book provides a high-level overview of the principles of effective selling, and is a practical guide for anyone interested in learning about how sales strategies can further their career.
Here’s a summary from Amazon Books:
“This text gives salespeople who did not plan on a sales career a blueprint for dramatically improving their sales skills and results. It guides the reader through every aspect of the selling process and offers plenty of techniques to outpace others in the business of selling.”
Love one of our blogs? Feel free to use an excerpt on your own site, newsletter, blog, etc. Just be sure to send us a copy or link, and include the following at the end of the excerpt: “By Mark Jewell, Wall Street Journal best-selling author of Selling Energy: Inspiring Ideas That Get More Projects Approved! This content is excerpted from the Sales Ninja blog, Mark Jewell's daily blog on ideas and inspiration for advancing efficiency. Sign up at SellingEnergy.com.”
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February 7, 2016
Weekly Recap, February 7, 2016
Monday: Read up on how to turn any customer-facing professional into a customer service "hero" in Be Your Customer's Hero by
Adam Toporek.
Tuesday: Don't lose your prospects over unnecessary questions. Be prepared and come to the table with answers.
Wednesday: Follow these insider tips the next time you sell energy efficiency to homeowners.
Thursday: Continue Wednesday's topic with more strategies on how to reframe residential efficiency.
Friday: Using your five senses to achieve success.
Saturday: Read this article by Business Insider on "How to Make the Most of Your Next Industry Conference."
Love one of our blogs? Feel free to use an excerpt on your own site, newsletter, blog, etc. Just be sure to send us a copy or link, and include the following at the end of the excerpt: “By Mark Jewell, Wall Street Journal best-selling author of Selling Energy: Inspiring Ideas That Get More Projects Approved! This content is excerpted from the Sales Ninja blog, Mark Jewell's daily blog on ideas and inspiration for advancing efficiency. Sign up at SellingEnergy.com.”
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February 6, 2016
Making the Most Out of Your Next Industry Conference
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Recently returning from the 26th AESP National Conference in Phoenix, we decided to focus today’s productivity blog on attending conference and expo events. For many of us nowadays, a deal can be closed over the phone and a sale can be completed with one click on our shopping cart. However, if you are looking to uncover ways to grow your company’s business, having face-to-face interactions is vital to that development. Your industry’s conference can provide the perfect in-person setting. Besides being enjoyable, attending these events can also offer opportunities to network with new peers and learn about innovative trends, while also setting yourself up as an expert in your field.
Whether you are a small business or a part of a larger organization, attending an industry event can deplete your daily productivity reserve. Thus, being prepared with conference goals and action plans can ensure you have a successful experience. Business Insider’s article, “How to Make the Most of Your Next Industry Conference” is a great starting point when figuring out what you will want to look out for during the next event. Although an older article, we’ve found its advice to be still relevant and applicable (for example, “be more interested than interesting, more fascinated than fascinating).”
Read the full article here:http://www.businessinsider.com/get-more-out-of-the-industry-conference-youre-attending-2010-9
Love one of our blogs? Feel free to use an excerpt on your own site, newsletter, blog, etc. Just be sure to send us a copy or link, and include the following at the end of the excerpt: “By Mark Jewell, Wall Street Journal best-selling author of Selling Energy: Inspiring Ideas That Get More Projects Approved! This content is excerpted from the Sales Ninja blog, Mark Jewell's daily blog on ideas and inspiration for advancing efficiency. Sign up at SellingEnergy.com.”
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February 5, 2016
Sensing Success
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One of the best ways to achieve success is to imagine yourself achieving it. It’s one thing to say to yourself, “I’m going to close this sale.” It’s another thing altogether to immerse all of your senses that are stimulated in the wake of a successful sale. Before you meet with a new prospect, take some time to think about what you will see, taste, hear, smell, and feel once you seal the deal.
What does a big sale look like? Perhaps it’s a cash deposit, a check, a purchase order, or an award for being a top sales producer.
What does a big sale taste like? Perhaps it’s a fabulous meal at your favorite “special occasion” restaurant to celebrate your victory.
What does a big sale sound like? Perhaps it’s your boss saying, “Wow, that's the biggest sale this company's ever made. You're awesome! Fantastic job.”
What does a big sale smell like? Perhaps you're going to take your husband or wife on a special vacation where you smell the ocean surf, evergreen trees, or the freshly cut fairway at a famous golf resort.
What does a big sale feel like? Perhaps it’s your sales manager slapping you on the back for a job well done. Or perhaps it’s the feel of your new customer shaking your hand when he or she says, "You know what, you're the first vendor who actually understands what I do for a living. I know we're going to have a long and mutually prosperous relationship together.”
If my own experience using this technique is a reliable predictor of how well it will work for you, I can assure you that taking the time to richly imagine what your success is going to look like, taste like, sound like, smell like, and feel like will give your mind a holographic image of success. Do that, and you'll have many more successes come true than if you had not taken the time to do such an exercise.
Love one of our blogs? Feel free to use an excerpt on your own site, newsletter, blog, etc. Just be sure to send us a copy or link, and include the following at the end of the excerpt: “By Mark Jewell, Wall Street Journal best-selling author of Selling Energy: Inspiring Ideas That Get More Projects Approved! This content is excerpted from the Sales Ninja blog, Mark Jewell's daily blog on ideas and inspiration for advancing efficiency. Sign up at SellingEnergy.com.”
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February 4, 2016
Residential Efficiency, Part Two
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Today, we’ll continue with some more strategies for reframing the value of efficiency when selling to homeowners.
Safety / maintaining a healthy home
Fire/carbon monoxide warnings
Motion-activated lighting to protect against intruders
Removing toxic substances from the air
Using utility bill savings to afford more leisure
People don’t make decisions – they make comparisons
Compare the utility cost savings to the cost of leisure activities (concert tickets, vacations, etc.)
Hedging against utility price spikes
Spending less on utility bills reduces the impact of utility price spikes
If you’re selling solar, you should definitely emphasize this fact
Supporting an easier sale and/or higher price
Prospective buyers who value efficiency will be more likely to buy your home than other inefficient homes on the market (easier sale)
Homes with demonstrably exceptional energy efficiency sell for a higher price than standard homes (in the District of Columbia, high performance houses [HPHs] had a median sales price that was 23% higher than that of non-HPHs. check out this study for more information)
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Love one of our blogs? Feel free to use an excerpt on your own site, newsletter, blog, etc. Just be sure to send us a copy or link, and include the following at the end of the excerpt: “By Mark Jewell, Wall Street Journal best-selling author of Selling Energy: Inspiring Ideas That Get More Projects Approved! This content is excerpted from the Sales Ninja blog, Mark Jewell's daily blog on ideas and inspiration for advancing efficiency. Sign up at SellingEnergy.com.”
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February 3, 2016
Residential Efficiency, Part One
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We talk a lot about commercial and industrial efficiency sales strategies on this blog. While larger projects yield larger returns for the end user, residential efficiency upgrades can have significant benefits for the homeowner as well, particularly if you reframe the savings and benefits in the right way. Over the course of the next two days, we’ll discuss some strategies for reframing the value of efficiency when selling to homeowners.
Comfort
Improved indoor air quality
Better temperature control
Reduced glare
Improved lighting quality
Pride of ownership
Bragging rights about reduced carbon footprint
Green / high-performance “badge value”
Saving money to fund educational expenses
Energy cost savings as they relate to educational expenses (savings for college fund, student loan payments, etc.)
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Love one of our blogs? Feel free to use an excerpt on your own site, newsletter, blog, etc. Just be sure to send us a copy or link, and include the following at the end of the excerpt: “By Mark Jewell, Wall Street Journal best-selling author of Selling Energy: Inspiring Ideas That Get More Projects Approved! This content is excerpted from the Sales Ninja blog, Mark Jewell's daily blog on ideas and inspiration for advancing efficiency. Sign up at SellingEnergy.com.”
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February 2, 2016
Come to the Table with Answers
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Last week, we discussed some strategies for getting to know your prospects before you meet with them. Assuming you take these tips to heart and perform due diligence before the first meeting, how do you use the newfound knowledge of your prospect and his or her industry, company, and team to increase the likelihood of getting your project approved?
One of the many benefits of coming to the table with a healthy dose of background knowledge is that you can limit your questions to only the most important ones. In this day and age, people don’t even have the patience to wait two or three seconds for a website to load before they get frustrated and click on another webpage. Needless to say, you can’t afford to lose your prospect to unnecessary questions. People want vendors and service providers to come to them with answers, not questions. By finding the answers to as many questions as possible before the meeting, you save your prospect the time and frustration of having to spoon-feed you the basics.
Moreover, don’t confuse the wisdom of asking questions during the meeting with the foolishness of not having done your research well in advance of the meeting. Never ask a question that could have (and should have!) been answered with a little research ahead of time.
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Love one of our blogs? Feel free to use an excerpt on your own site, newsletter, blog, etc. Just be sure to send us a copy or link, and include the following at the end of the excerpt: “By Mark Jewell, Wall Street Journal best-selling author of Selling Energy: Inspiring Ideas That Get More Projects Approved! This content is excerpted from the Sales Ninja blog, Mark Jewell's daily blog on ideas and inspiration for advancing efficiency. Sign up at SellingEnergy.com.”
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February 1, 2016
Going from Zero to Hero
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How do you win business in a competitive marketplace? If your products and prices are exactly the same as your competitors’, it all comes down to the quality of service you deliver. Between word of mouth and online reviews, it’s easy to build a great reputation through stellar customer service – or to tarnish it through poor service.
In Adam Toporek’s book, Be Your Customer’s Hero: Real-World Tips & Techniques for the Service Front Lines, Toporek provides actionable advice to turn any customer-facing professional into a customer service “hero.” Through examples and stories, he teaches what to do – and what to avoid – in a variety of situations. He also emphasizes the importance of focusing on preventative measures so that you don’t end up with a customer service problem in the first place.
For more on this topic, I highly recommend picking up a copy of the book.
Here’s a summary from Amazon Books:
“On the front lines of customer service, every day presents new and unexpected challenges - and even the most dedicated employees can be caught unprepared. They need confidence. They need training. They need help. Be Your Customer’s Hero answers the call. The book provides customer-facing professionals with short, simple, actionable advice designed to transform them into heroes in the eyes of the customers they serve. Quick chapters show readers how to: achieve the mindset required for Hero-Class service; understand the customer’s expectations - and exceed them; develop powerful communication skills; avoid the seven triggers guaranteed to set customers off; handle difficult and even irrational customers with ease; and become an indispensable part of any frontline team. Armed with the tools and techniques in this book, readers will start each workday knowing they can conquer whatever problem comes their way.”
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Love one of our blogs? Feel free to use an excerpt on your own site, newsletter, blog, etc. Just be sure to send us a copy or link, and include the following at the end of the excerpt: “By Mark Jewell, Wall Street Journal best-selling author of Selling Energy: Inspiring Ideas That Get More Projects Approved! This content is excerpted from the Sales Ninja blog, Mark Jewell's daily blog on ideas and inspiration for advancing efficiency. Sign up at SellingEnergy.com.”
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