The new experts

When a prospective buyer first contacts a business, they likely have already researched their options. They know there is competition and plan to compare offerings before deciding who to purchase from. This initial contact is the salesperson's chance to showcase their benefits and persuade the prospect they can deliver value. Rather than listing product features, focus on creating customer preference.

There are common sources most prospects come from, though it varies by industry. The most likely are: the company website, word-of-mouth referrals, email/phone inquiries, social media, chance encounters, advertising, and trade journal articles. With this in mind, a company's website should immediately and persuasively engage visitors. An effective site does four key things:

First, it instantly engages visitors by prominently featuring the most important customer benefit offered. Forget flowery language and irrelevant images. Succinctly state what the business does. Second, it makes finding information intuitive by organizing content around customer needs rather than self-promotion. Third, it provides an easy first step like a free sample, estimate, consultation, or trial. Finally, it builds customer preference by demonstrating post-purchase service. Include stories of exceeded expectations and information alleviating concerns.

Creating customer preference and engaging prospects effectively are crucial elements in today's sales landscape, where traditional approaches like canned pitches and aggressive closing techniques are increasingly ineffective. Empowered buyers now value independence in their purchasing journey, necessitating a shift in the seller's approach. To succeed, sellers must consistently demonstrate attentiveness to customer needs, showcase expertise, and emphasize post-purchase service quality over the long term. This approach requires patience and respect for the buyer's decision-making process.

Rather than focusing solely on immediate sales, successful sellers cultivate engagement and trust with prospective customers. Buyers are encouraged to immerse themselves in product research, compare options, and negotiate terms independently. Sellers create an information-rich, no-pressure environment that makes prospects feel supported and understood. Small victories during negotiations, even if seemingly minor, play a significant role in influencing buyer perception and commitment. Measuring prospect-to-customer conversion rates is essential for evaluating business performance and refining strategies for improvement.

The period after a customer purchases a product or service marks a crucial opportunity to sustain and build preference. This is the keep-or-lose moment - the most overlooked chance in business. Reinforcing the preference generated during the sales process now can lead to repeat purchases and advocacy. Success here depends completely on performance. Customer churn is the primary destroyer of bottom lines today. Following up to ensure expectations are met or exceeded means that customer will likely stay loyal long-term.

Once proper delivery and setup is confirmed, occasional communication keeps the company and brand top-of-mind. This could involve sending tips, making support materials available, or providing useful information. Doing so periodically reminds customers of the brand's commitment and personal involvement. Demonstrating interest in their satisfaction lays the groundwork for repeat sales and referrals.

It's tempting to become consumed with immediate business demands and abandon customers post-purchase. But retaining their preference is essential for growth. The more attentive the follow-up, the lower the churn and higher the advocacy. As one expert states: "You must pursue new prospects aggressively and continuously, but it is equally important to nourish and maintain your relationship with a customer while that current customer is using, consuming, enjoying, and relying on the product or service she purchased from you."

Your multiplier moment occurs when you convert a one-time customer into a repeat customer and advocate for your company. Repeat purchases and referrals are highly profitable, requiring less investment and generating more revenue than acquiring new customers. The multiplier moment represents successfully building customer preference and a return on investing in all customer interactions. For this to happen, you must first meet four prerequisites:

- Continuously ensure customers receive good service since that is what they want and pay for. Obsess over performing for customers. - Regularly communicate to maintain top-of-mind awareness so that when using your product/service, you come to their mind first. - Do things that build personal equity - a positive aggregate perception of your value that motivates future purchases. - Leverage personal equity to motivate customers to advocate and refer those who would benefit to you.

Multiplier moments require previously earned personal equity from consistently good, long-term performance. Personal equity is invaluable currency earned through reliability, persistence, and integrity with each customer. It is perishable - one bad experience or a change in relationships can eliminate years of effort. You must continually use personal equity or lose it.