60 Seconds on Business
Feedback, rewards improve sales yield

By Dr. Drake Beil
President, Solutions Inc.

I'm a customer. Treat me nice. I'm worth it.

When you buy a car or home, don't you want to be treated in a special way? You want them to make you feel satisfied. You're spending a lot of money and expect someone to care about you. It's the same for small purchases, too.

If you're on the selling end, remembering all this is another key to increasing yield from your customers.

Companies like AT&T and Verizon have well-developed customer segments based on sales volumes, and customers in these segments prefer and receive different levels of customer contact. Some can be approached for bundled services and others want to be left alone. Some need a personal touch for their accounts, and others can be handled automatically.

All that needs to be communicated to the frontline people responsible for getting the job done. Otherwise, your yield improvement program will lack focus.

The commitment to spending the dollars needed for training and development is always suspect, but a good yield improvement program pays for itself many times over. I recommend tracking and charting program results.

You need to follow up regularly with advanced sales training, shared customer feedback and, the best part, an incentive program.

Reach Dr. Drake Beil at drake@60secondsonbusiness.