How I lost a Sale

by Dr Greg Chapman

A short while back I lost a potential client. Now its not the first time it happened. And I am sure it won't be the last.

Sometimes I am very happy to lose a client- you know the type, the time wasters, the freebie seekers, or people who are just totally unqualified to buy.

No, the client I lost wasn't anyone of those. In the initial stages of my discussion with him, he seemed pretty qualified. In fact, highly qualified.

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The Mathematics of a Sales Pipeline

                     by Dr Greg Chapman

There are two key components to a sale: the technique and the numbers. In this article, we will discuss the second of these components, the numbers.

“Using the Five Profit Drivers to Double Your Business’ Profit” referred to the second Profit Driver as “Increasing your conversions to sales”. That is, we took the number of sales and divided it by the number of enquiries to calculate the conversion factor. This is a very blunt instrument to analyze your sales effectiveness.

The simple sales conversion factor measure assumes a single sales step. Someone calls you and after a conversation, they buy, or they don’t. Most sales processes are far more complex. Consider an example of a typical sales pipeline:

The Five Pillars of Business Success: Pillar 2: Marketing Strategy

                     by Dr Greg Chapman

Last month I covered the first of the Five Pillars of Business Success: Your Plan.

In this post I discuss the second of the Five Pillars of Guaranteed Business Success: Marketing Strategy.

What is Marketing? There are hundreds of definitions of marketing, but I like to keep it really simple.

Definition: Marketing (noun): Finding and Attracting people who want to buy what you want to sell for the price you want to charge.

Ad of the Month - Joy

by Dr Greg Chapman

Suppose you run an investment fund and you want to appeal to the average person who might only have small amounts that they can contribute regularly? The typical approach might be to explain how small amounts over time will add up to a large amount in the distant future (boring) or you could make saving fun. This is what this fund did.

Do You Market Like a Lion or a Spider?

by Dr Greg Chapman

The lion of course, is the king of the beasts. Standing there on an outcrop surveying the plains with a gentle breeze blowing in his mane. He spots a heard of antelope and climbs down and starts to make his way towards the herd.

He approaches from downwind and starts to stalk his prey. Once the herd comes within sprinting distance, he begins his chase. The herd dashes to the left and then to the right to avoid the lion. Finally the lion spots an antelope that is lagging behind and he marks his target. It is as magnificent to watch as it is brutal.

The lion has his meal. Tomorrow he will do it all again.

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