Can Account Managers Be More Social?
Many Sales and Account Managers I know seem to be Social Animals.
When in a group and especially a “social” group setting, Salespeople want to be in the middle of the action. They’re usually the ones doing the talking and leading the conversation, creating a network of Friends and Associates. They get great pleasure and enjoyment in this environment. I suspect the term “Happy Hour” would not be as popular as it is today if not for Sales and Account Manager’s fulfilling their social needs.
I know a couple of Account Managers that fill their social needs a little too often.
Since Happy Hour doesn’t usually start until after 5:00 and is usually limited to a small group, I would like to invite you to join me as I continue to explore the world of Social Media.
In the last post “Google It!” I told you that I had just signed up for a Twitter account but I didn’t let you know why. If you have read my “About Me” page you know the reason for this blog is to provide enjoyable, relevant and sometimes thought provoking information related to sales, a couple of times a week.
Those that know me know I’m always reading, maybe too much if you ask my wife. I guess I should blame my reading habit on my parents for making me take the “Evelyn Wood Speed Reading Course” when I was in high school. (Showing my age again)
As I read, I am always jotting down notes, quotes or topics I think may be of interest in future blog articles. My ideas for blog posts are far exceeding my time available to write. Many of my notes would probably not make good articles but I think would be enjoyable as “Tweets”.
I have chosen Twitter over the other Social Media outlets such as LinkedIn and FaceBook to share this information. LinkedIn (which I also have an account) is a bit more professional and would not be as appropriate for the personal things I may have to say. Whereas, FaceBook may be a little too personal and not quite right for the usual topics I will be covering. Please let me reserve the right to change my opinion as we go along.
So, back to the topic of Account Manager’s being Social and having the need to network with Friends, Customers and Associates. If you are not using any of the Social Media outlets mentioned above with your Customers, I suggest you need to give at least one of them a try. Social Media allows you to build relationships with your Customers and also promote your Products and Services.
- It is much easier to get relevant and timely information out to your Customers than a Sales Call or Email.
- Can be used to find new Customers and Networking Partners.
- Helps in creating Trust and Credibility.
- You will become the “Expert” in your profession when done right.
At the very least, if you sign up you will be able to follow the Experts in your field, many of your Customers and some of your Competitors from the sidelines. But I think the real value of Social Media is to participate and be a part of the social community. You should get way more than you give.
I must confess that with the exception of this blog, I have been sitting on the sidelines far too long. If you want to join me on Twitter and learn what:
- Tweets
- Re-Tweets
- Mentions
- Hashtags
- Direct Messages
- @,#,d,follow
are all about, you can go to www.twitter.com to sign up.
To get started all you have to do is enter your name, email and password and then click on the “Sign Up For Twitter” button. Then select a user name, your real name is best if available. Next select the “Create My Account” button and that’s it.
If you are new to Twitter you can “Google It” and get all the information you need to get started or go to www.support.twitter.com for help. Also, check your company’s Social Media Policy for all the do’s and don’ts if using Your Company’s name or information.
If you have an account and are an experienced twitter user or just getting started please join me at @WE_Ward as I learn and hopefully demonstrate the tremendous value of Social Media for Sales and Account Managers.
Starting this week, I will begin tweeting the bits and pieces of information I come across each day to provide additional value to those who read my blog and I promise to always try to over-deliver.
If you have any helpful suggestions, please leave a comment below or you can email me at feedback@wewaonthenet.com.
You can also follow me at www.twitter.com/WE_Ward.
Now let’s get out there and over-deliver!
August Tip of the Month – Google It!
This month’s Sales Tip is more of a request than a tip for Sales and
Account Managers.
Just Google It!
For the next week, I ask that you spend a few minutes every morning and Google each Customer (both existing and new) you plan to see that day. I know that not all your Customers are active on the internet but those that are will provide you a wealth of information.
Many times you can find their:
- Mission and Values
- Recent News and Awards
- Key Employees
- Location of Branches and Projects
- Projects Awarded
- Industry Associations
- Products and Services
- Job Opportunities
And never forget the “About Us” page on their website. This is where they have their chance to tell “their” Customers all about themselves. As an Account Manager you may not get to see how they communicate and sell to their Customers. The “About” page is a good opportunity.
But don’t stop there. Go ahead and check Facebook, Twitter and LinkedIn to gain information on the company and person you are going to see. This is especially valuable if you are just building a relationship with your Customer or making that initial introduction. (If you are not currently signed up on at least one of these, I encourage you to do so.)
And while you’re at it, go ahead and quickly search your Customer’s competitor’s websites. You may find opportunities you can introduce to you Customer. Heck, you may even find a prospective Customer.
The information you can gather in just a few minutes using the internet is endless.
With this information you will demonstrate your professionalism by being knowledgeable and prepared. You will not be wasting your Customer’s time needlessly fact finding and can begin delivering your value immediately.
I can’t tell you how many times I’ve had Vendors call on us that didn’t have a clue about our Company or what we do. I’m not only talking about rookie Account Managers but seasoned Professionals as well. How good of sales calls do you think those were?
I believe our Customers are asking us to bring them information they don’t already know. They are tired of telling us things we can easily learn (on the internet) with just a little effort.
So for the next week, do me and yourself a favor and Google Search each of you Customers before you make your sales call. This should require no more than a few minutes once you get the hang of it. Then incorporate what you learn into the visit. I think you will see a huge improvement in your results.
Please let me know your results in the comment section below or email me at feedback@wewaonthenet.com.
As of this week you can also reach me on Twitter at @WE_Ward.
Now let’s get out there and over-deliver!
Why Should I Buy From You?
As Sales and Account Managers can you answer this one simple
question?
Why should I buy from you over everybody else?
This is such a simple question but may be the hardest question you will ever be asked to answer. In many cases your Company may not even know the answer.
If you can satisfy the customer’s “Why” the sales process becomes much easier. If you can’t, you are probably stuck to only talking about price and becoming a “me too” Account Manager.
Everyone wants to feel they are making the right and best decision when purchasing anything and I’m no exception.
I’m getting ready to start the process of buying a new truck. Anyone that knows me knows that when I say process I mean a grueling process.
- I will study the different models and options well beyond reason.
- I will have my list of what I’m looking for narrowed down before I even talk to a dealership.
- I will have a good idea of what I’m willing to pay.
- I may even have the vehicle picked out that’s on the lot.
When I finally go in the dealership, what I’m really looking for is “confirmation” that I am making the right decision.
- Is this the dealership and salesperson I should be buying from?
- What makes them better than the dealership down the street?
- Are they going to take care of any problems I may have in the future?
Is this any different than what your customers are thinking or asking themselves about you and your company?
If you don’t know or can’t tell your customer what makes you and your company special, how will they know?
- What products or unique services do you offer that the others don’t?
- In what areas are you far superior to your competition?
- What makes choosing you their best decision?
It doesn’t matter what products or services you are selling you must be able to answer these questions.
My suggestion is:
- Write down the question on a piece of paper.
- Brainstorm all of the things you think makes you and your company special and write them down.
- Eliminate the things your competition does as well as you.
- Scratch off the things your customers would not see as a value to them.
- Select from the remaining items the things you are far superior than your competition and would help your customer realize that choosing you and your company is the best decision.
Now you should have the framework to begin answering the question. Take the time to write down your answer and practice saying it until you have it down cold. Be able to deliver the message with confidence and ease.
You may never know when you will be asked “Why Should I Buy from You over Everybody Else?”
I hope Johnny at the Chevy house is practicing his answer this weekend!
If you have any helpful suggestions, please leave a comment below or email me at feedback@wewaonthenet.com.
Now let’s get out there and over-deliver!
Communicate the Way Your Customer Wants to Communicate
I’m on my way back from a Corporate Sales and Marketing meeting. As
I sit on the plane, somewhere over South Dakota, I keep thinking about our discussion of “knowing how your customer wants to communicate.”
It became clear to me that if given the choice and without thought we communicate with our customers the way “we” are comfortable. Never asking ourselves what the customer likes or wants.
Vern, one of our Regional Sales Managers, had an excellent example of how he chooses to communicate differently to his customers, his kids and his grandkids in order to be effective and heard.
If Vern has his choice, he prefers to communicate via phone with his customers. This is the way many of us have always communicated with our customers. This may be how your customers want to be reached but are you sure?
If he wants to talk to his kids, the phone is not effective. They prefer texting. Maybe you have had this happen to you. You call your kid on the phone and they don’t answer. So you leave a voicemail and still no reply. At this point I’m wondering why they even have a phone. But if you fire off a text message you get a reply back before you can get your phone back in your pocket. Maybe even a couple of more texts before you can even text back “ok” or I guess the appropriate text is “k”.
But what really brought the importance of how you choose to communicate is when he told about how he communicates long distance with his young grandchildren.
I think we’ve all tried to talk over the phone with a toddler. It’s pretty much a one-way communication. Most of the time, they just listen to the foolish talk from a loving grandparent trying to baby talk over the phone. If you’re a parent or grandparent you know what I’m talking about. If you were doing this in public someone would probably call the cops thinking you’ve been drinking.
You would never consider texting your grandkids but I would argue texting may be as effective as baby talking over the phone.
FaceTime has become the communication tool of choice at Vern’s and at our house for Grandma and Granddaughter to talk. What better way to communicate long distance with your grandchildren than FaceTime. Except maybe a weekend trip for hugs and kisses. I sometimes wonder what our grandkids think when they see us making silly faces and baby talking.
I think what Vern was telling us was that there are many ways to communicate and you must choose which to use. I’m sure his kids would have no interest in FaceTiming with their dad any more than a phone call. Nor would many of his customers care at all about texting when they would much rather have a conversation over the phone.
Are you communicating one way when your customer wants to communicate another?
For example:
- You leave a voicemail and they text you back.
- You send a fax and they scan it back in an email.
- You email them and they call you back on the phone.
These may be signs that you are not communicating the way they wish to communicate.
In our office, email seems to be the choice. I think some would rather send emails than eat. I would rather talk in person or over the phone but if email is what they want that’s what I’ll do.
So are you giving any thought to how your customers and co-workers wish to communicate?
If you can’t figure it out just ask them!
Please leave a comment below with your thoughts about how to best communicate or you can email me at feedback@wewaonthenet.com.
What to do when a New Competitor Comes to Town
Are you and your Account Managers worried sick about the new
competitor coming to town?
I recommend a bowl of Ice Cream.
I’ve never been the type to worry much about what the competition is doing. I have always felt that you need to worry more about what you’re doing than your competitors.
If you’re making the right decisions, working hard and always trying to exceed your customer’s expectations you really don’t have anything to worry about. I’ve often said “it’s hard to lose a happy customer” or to say it another way “it’s not your happy customers that move their business to the company down the street.”
However, I think not at least monitoring what the competition is doing is a very big mistake and you may be missing opportunities for improvement especially if you have new competitors moving to town.
If your company is like ours we are seeing many new competitors moving into our area. I guess the grass always looks greener on the other side of the fence. Worrying and fretting about them will do no good.
Now is the time to make sure you are over-delivering and exceeding your customer’s expectations. I remember reading a book or an article about building a “moat” around your customers. Make it as hard as possible for the competition to get to your customers.
I think you do this by truly focusing on what you do best and improving the things you do badly.
It is the things you do poorly that will give the competition entrance to your customers. But it is the things you do best that will limit the damage.
I see many Companies and their Sales Teams worry so much about what their competitors are doing they completely forget what they do best. They get so fixated on what the competition is doing that they quit bringing their unique value to the customer.
When you began to overly focus on the competition you will become reactive and much less pro-active in your sales process, hence less value. Simply put “less value = less customers.”
Look on the Bright Side
View this as a challenge to improve what you’re doing and see this as an opportunity to learn something new.
As Sales and Account Managers we must always be learning and looking for ways to improve. Let’s put learning from the competition as one of the tools we use to learn. Just like a 2 day seminar, a good sales book and this blog site (I hope).
I’ve been thinking about the Ice Cream commercial that’s been on TV for years. It’s got the happy Ice Cream Truck Driver. I believe their slogan is “We eat what we want and sell the rest.”
So you may be thinking what this has to do with a discussion about your competition?
Probably nothing, but if you can take (learn) what your competitor does best and improve on that, then don’t worry about the rest.
If you see something they are doing extremely well, take notice and see if it is something you should be doing. If it is, make sure you can do it better than them. If not then consider not doing it. You don’t want to become a “me too.”
I would be less than honest if I don’t admit that sometimes the competition and especially the new guys coming to town give me many sleepless nights. But all the worrying and tossing and turning is not going to stop them. You must focus on what you have control and always be the best you can be. Then, don’t forget to try to learn something from them and forget the rest.
It’s time for that bowl of Ice Cream then back to work.
If you would, please leave a helpful comment below or email me at feedback@wewaonthenet.com.
Now let’s get out there and over-deliver!
Six Traits of a Star Account Manager
So you’re a Branch or Sales Manager, do you want to make your job
much easier?
Then hire yourself a Star Salesperson or Account Manager. It may be the single most important decision you will ever make. Nothing will make you look smarter than hiring a superstar. The superstars won’t require as much of your time as most Account Managers. They are driven to succeed and will work hard and smart to do so. The Star Account Manager will seek out the customer’s needs and objectives and find the solutions.
Our most successful Account Managers can out sell 2 or 3 average Account Managers and they are my best sources for providing me with accurate market information.
There are six traits or qualities you should start looking for when hiring an Account Manager or building up your Sales Team.
I was introduced to these traits several years ago by a Sales Coach we hired to help work with our Sales group. I have made some modifications to fit the quickly changing world of sales but for the most part these traits I think should stand the test of time.
You may be surprised, as I was that “good” looks and product knowledge are not on the list. If good looks was a requirement I would never have been hired as a salesman. Good looks may help on the initial contact but is not a necessary trait to be a Star Account Manager.
Product knowledge can be learned. Some product knowledge is probably desirable but if I can learn what I needed to know somebody else can learn as well.
The Six Traits that Make a Star Account Manager or Salesperson:
- Honesty and Ethical Principles – This is the most important trait. You will be asking your customers to trust your Account Manager and they must know they will be treated honestly and fairly. This will also help insure that in the future you will not be dealing with a salesperson that’s done something unethical that gets you and your company in trouble.
- High Energy Level – You need to look for an individual that has the energy and willingness to make that early morning sales call and still have the energy to schedule a call for 4:30 in the afternoon. In many cases sales is a numbers game and the more sales calls that an Account Manager can make the more likely they will be successful.
- Ability and Eagerness to Learn – I’m not talking only about gaining product knowledge but in today’s sales environment an Account Manager must always be learning, inquiring and improving their sales skills. There are always changing products, new applications and changing technology. To keep up with all these changes the salesperson must be able and willing to learn, understand and change as needed.
- Capable to Build Strong Business Relationships – The successful Account Manager must be able to build strong trusting business relationships with many different types of people. This requires the ability to listen to the customer’s needs, be able to recognize the customer’s emotions and be perceptive to what the customer may or may not be telling them. They must be able to build trust and be able to show a real interest in their customers.
- Successful self-image of themselves – This may be the hardest trait to identify. It seems that people always live up to the image they have of themselves. I see Account Managers with all the potential and ability in the world, but they never live up to their potential because of a poor self-image. If they can’t imagine themselves being a superstar Account Manager then they probably never will be.
- Internal motivation – You want to find that person who has an internal drive to succeed. As Managers we can provide the external motivation by offering money, trips, bonuses and recognition but without the internal motivation to be the best they can be, the exterior benefits will be short lived. I think it is the internal motivation and the want to succeed that helps the Account Manager overcome the disappointments and rejections of being in sales.
As it was taught to me, these traits are not only yes/no. Everyone has these characteristics to various degrees. So it is not a question of if they have these traits but to what degree they have them. You may want to rank each of the qualities from 0 to 10. This should make it easier to compare your sales candidates.
If you are lucky enough to find that perfect candidate for the sales position, hang on because you will be in for a very profitable and interesting ride.
If you would like, please leave a comment below or email me at feedback@wewaonthenet.com.
Now let’s get out there and over-deliver!
Do You Really Want an Aggressive Account Manager?
I’m frequently told “I wish my Sales Team was more aggressive.” The more I think about this statement, I question if they really know what they are wishing for.
The definition of Aggression is “ready or likely to attack or confront; hostile; pursuing one’s aims and interests forcefully, sometimes unduly.”
Is this the type of Employee, Co-Worker or Account Manager you are
looking for to represent your Company and engage with your customers? I don’t and I don’t think this is what they are looking for either, unless they work for the Chicago Bears and are looking for a Defensive Linebacker or that Company that calls our house each night at dinner trying to sell something we don’t need.
Just think about how you react when you encounter an aggressive salesperson. How many of you shop for a car on Sunday just so you can shop without being pressured to buy. Have you ever walked out of a store where you had every intention to buy just because the sales clerk would not leave you alone?
We have a furniture store in town that is now promoting that no salesperson will bother you unless you have a question and call them over. When we need furniture I will give them a shot.
I think what we really are asking for is not aggressive but that our Account Managers be less passive and more assertive.
As Sales Managers we teach and expect our Sales Team to be Relationship Builders. This is a skill that I believe is essential but in many cases it encourages them to become passive in the sales process by being too accommodating and always trying to please the customer. At times, our Account Managers will do things that are not in their or the companies best interest just to please or not upset the customer.
We must remind our Sales Team and especially the more passive Account Managers that the key to a long lasting business relationship is “it must be beneficial to both parties.” It is rare to find a customer that is so passive that there is never an objection with anything we propose. Most customers are assertive as to what they want and feel they need. We must become more assertive and teach our Account Managers how to let our customers know our expectations as well.
We should be seeking a person that shows confidence in their abilities, one that is neither too pushy nor lifeless. An Account Manager and Sales Team that can assert control over a discussion and move it the way they desire and is always looking for a way to overcome any objection by the customer. A person that doesn’t give in too quickly to the customer’s demands and can move the negotiation back to solutions that benefit everyone. That person should not be afraid to challenge the status quo when necessary.
In my next post I will discuss the traits I think you should be looking for in your Sales Team and Account Managers.
But, if you really want an aggressive Account Manager just wait until the County Fair or Carnival comes to town. Walk down the Midway and just look and listen to those trying to get you to buy from them. You will have a good crop of aggressive candidates to pick from.
If you would like, please leave a comment below or email me at feedback@wewaonthenet.com.
Now let’s get out there and over-deliver!
How to Sell to Price Sensitive Customers
I often hear “You’re telling me to sell value when my customer only buy’s on price.” This seems to be a common response when working with Account Managers.
I usually think but rarely reply “If price is the only reason they buy, why do we need you calling on them when we could handle this account over the phone.”
As Sales and Account Managers it’s our job to provide a value to our customers that goes beyond price.
Let me re-phrase the statement above and see if you get a different look at the situation.
“My customer always buy’s from me when I have the best price.”
This is the same situation just from a little different angle. The customer is still buying on price but I think you can start to see opportunities.
Now are you ready to pull up your sleeves, get to work and put in the effort to make the sale knowing that if you get there on price you will get the order.
Let me give you a few suggestions to help you with this type of customer:
Before the sale
- Be very responsive to the initial request. Show the customer how interested you are in their business.
- Listen for the real needs of the customer. Try to find needs other than price.
- Look for an alternative product or service that may better serve the customer or may have a better price point.
- Look for ways to cut cost out of the product or services without sacrificing the customers’ expectations.
During the sale
- Be prepared for questions and negotiations.
- Always portray an image of quality, responsibility and confidence.
- Try to move discussions of price to benefits and advantages you and your company can provide.
- Most importantly try to exceed the customer’s expectations with the proposal or quote.
- If the competition sends the quote by email maybe you hand deliver it.
- If the others just send out the price you send out the price along with specifications sheets or other material that may be a benefit to the customer.
- If the competition gets their price out at 3:00 yours gets there by 2:45.
After the sale
- Once you have the order you have the opportunity to bring your value as Account Manager to the relationship.
- Make sure you are following up with the customer.
- Provide technical and industry updates frequently.
- Quickly and completely resolve any problems that arise.
- Always be looking for the opportunity to over-deliver. (As we discussed in last week’s article).
Price does not have to be the deciding factor. Customers really want top value for the price they are willing to pay. Creating value is not a mystery but it does take hard work, commitment and outstanding communication.
As an Account Manager your ability to provide value to your customers will be the difference of you being an average salesman or a top performer.
If you would like, please leave a comment below or email me at feedback@wewaonthenet.com.
Now let’s get out there and over-deliver!
The Cornerstone to a Long and Lasting Sales Career
In a recent interview, Jack Welch was asked “What’s the Secret to
Success?”
He responded ” Find out what your boss wants and then over-deliver.”
How simple is that!
As Sales and Account Managers do you know who is your ultimate boss? How many of you when I said this, the first person that popped into your mind was your immediate supervisor, the CEO or possibly your spouse. That may be true, but in a sales business the ultimate boss, the one that makes the final decision as to you and your company’s success is the Customer.
The cornerstone to any long and successful sales career must incorporate Mr. Welch’s philosophy. I can ramble on but there is no need. Let me restate the quote as I think it should be for Sales and Account Managers:
Find out what your Customer expects and then over-deliver.
• Over-delivering has to become a mindset and be intentional in everything you do.
• Being average or just doing the minimum should never be good enough again.
• Your customers will grow to trust that when given the opportunity you will always give them more than they expect.
• Once you have the reputation for over-delivering others will seek your services.
• Your customers will no longer see price as the only differentiating difference between you and the competition.
• Do this enough times and before you know it, great things will begin to happen.
The downside to over-delivering is you are constantly raising the bar on customer expectations and those expectations become the new standard. That is why you must be committed to always learning and improving your skills. You will begin to seek out those who can help you improve and you will learn to dismiss those who try to hold you back.
I am committed to trying to help you learn and improve your sales skills. It is my hope that whether you are a seasoned salesman or just beginning your sales career I can help and be a part of your growth. If you are willing to let me know what skills you wish to improve and the expectations you have to grow your career, I will try each week to provide you with information from my training and years of experience. And as always, I will attempt to over-deliver.
Please leave a comment below or email me at feedback@wewaonthenet.com.
Now let’s get out there and over-deliver!
Sales vs. Inventory – A Children’s Story
I have figured out a great way to wake up a Sales or Branch meeting and get the group talking. All you have to do is mention inventories and ask for their thoughts. Everyone seems to have an opinion about inventories.
During a recent discussion on inventories last week I began to think I was listening to the Children’s story about Goldilocks and the Three Bears.
The Purchasing group thinks the inventory is not turning fast enough and we may have too much inventory.
The Sales group is on the other side of the coin feeling that we need more inventory and the inventory we have isn’t exactly what we need.
In the middle was the Branch Manager thinking for the most part the inventories are just right.
Now are you starting to remember the story? I bet a couple of you couldn’t remember exactly which story I was talking about. Was it the Three Bears or the Three Pigs with the Huff and Puff Wolf? Am I right! Back to the topic.
How many of you have been in this discussion?
I know all three groups are passionate in their beliefs and without a doubt everyone in these discussions are looking out for what’s best for the company.
So I would like to interject my thoughts since over the years I have been in all three positions and have argued all three cases.
I seem to always try to come up with a story to make my point or try to make it easier to understand. So here we go.
When I go into the grocery store across town I don’t expect them to have everything I need. If I go into a convenience store, I have even less expectations but I still think they should at least have bread, chips and cokes. But when I go to My local store that I have shopped at for years I have much higher expectations than the others. I expect them to have what I need. There is a reason I shop at that store and price is not the only reason. I am comfortable knowing that they seem to always know what I need.
So here’s my attempt at a story to make my point.
It’s the Fourth of July weekend and I run to the store to get Mustard and Mayonnaise. I may not buy these items but once or twice a year but I expect My store to have both. When I get to the condiments aisle there is plenty of Mustard but no Mayonnaise. I think, this is the Fourth so they must have had a run on the Mayonnaise but I can’t even find an empty shelf where it should be. So I ask the guy stocking the shelves where is the Mayo and he says we used to stock it but lately we haven’t been selling any so we’ve quit stocking it.
You probably think this is a dumb example. No grocery store would ever not stock Mayonnaise and I agree. But if your inventory is based solely on inventory turns and only on items with the most sales, what would prevent this from happening? Do you have a process in place to factor in Customer Expectations?
To continue with my example, I go ahead and get the Mustard but I still need Mayo. I go down the street where I may or may not have every traded before to get some Mayonnaise. Sure enough they have it and in the brand I prefer. Next to the Mayo is Mustard which happens to be cheaper than I paid at My store. I start to look at this store differently than before. I’m probably going to pick up a few more things for comparison. I’m thinking this store seems to have everything I expect a store to have and cheaper. Heck, this probably should become My store.
I’m not going back to my “Old” store and tell them I’m gone. They probably wouldn’t miss me anyway.
Can you see this happening with your Customers? How much did that one “lost sale” cost the grocery store in my example? I think a lot more than a jar of Mayo.
Having the right inventory is a very difficult process. You can have too much and not be efficient. You can have too little and not meet customer expectations. We must all work hard to make the inventory “just right.”
There are certain products that customers expect us to have on our shelves. They don’t understand and really don’t care how often it turns (sells). When they want the item they expect us to have it.
Every business should know these products and must make exceptions to turn rates and efficiencies to make sure these products are available. With all the benefits the computer brings to a business, I know computers cannot identify Customer expectations completely.
Customers don’t expect us to have everything and we should not even try to have “all”. But we must be able to meet their expectations.
As Sales Mangers and Account Managers we are the eyes and ears of our Customers. We must be providing feedback to the Purchasing group. Without our involvement and being proactive in the process we will surely fail to meet our Customer expectations.
I encourage you to be active in the Inventory Committee meetings if your organization has them. If not, offer to be a resource to the Purchasing Department. Make sure your Customer’s expectations are known.
If you have been reading this blog for long, I hope you realize that I think our relationship with our Customers is the key to our success. We must know our Customers and find a way to do business the way they wish to do business, if not the competition will. Inventories are just one glaring example of how well you know your Customer and your willingness to meet the Customer’s expectations.
Have a Happy 4th!
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