How to delight the customer: the 7 techniques that nobody told you now revealed!   

Customer Service

how-to-delight-customers

How to delight the customer, is that what you want to know? Do you also want to know how to sell more by delighting the customer?

In short: do you want to know how to delight the customer and sell more?

There are some secrets that you haven’t been told about how to delight and promote customer loyalty.

Bonus: make your team achieve high sales performance with our CRM platform

Agendor is a CRM and business management platform that works as a control panel and personal assistant for B2B sales teams.

In fact, there are some practices that you can implement in your company, as long as you do it without letting any details slip.

No time to read the content? Would you like to be able to accompany him as he drives, walks or performs other activities? So don’t waste your time and listen to this article in its entirety. Just click play! We appreciate your feedback in the comments 🙂

Take a look at what awaits you!

7 tips on how to delight the customer:

  1. Know everything about your customer
  2. Show him that you know him very well
  3. Make your customer feel at ease
  4. Prove to your customer that he can trust you
  5. Initially, meet your needs
  6. Then, surprise him: exceed your expectations
  7. don’t let this experience end

Delighting customers is exceeding their expectations

Imagine that you are the owner of a network of car stereo installation stores and you are going to visit 2 suppliers looking for news to improve your product mix.

At the first supplier, he is very well received on time and taken to a meeting room where he meets several executives. They give a detailed presentation of their releases in PowerPoint and even have some of the sound equipment on display.

At the second vendor, the experience is similar. But at the end of the presentation, you are invited to take a ride in a sports car with one of the company’s best equipment ever installed. You answer a quick electronic questionnaire about your music preferences, and one of the company’s sales executives takes you on a tour to your favorite tunes.

Then, as they drive the car, they demonstrate all the benefits of the equipment to delight their customers and sell more.

Do you already understand how the recipe of how to delight customers and sell more works?!

How to Delight Customers and Sell More: 7 Steps You Can Follow!

We have selected a series of tips for those who want to discover how to delight their customers. You will see that these are simple attitudes, but they need to be implemented with care and attention to detail.

In fact, the ideal is that you develop in your company a culture of customer service with excellence.

For this, there is a tripod of factors that needs to sustain this enchantment: people, interaction with customers, the infrastructure provided by the company.

The sum of these factors leads to an amazing experience for the customer, ensuring the sustainability of the business for the future.

Check out this chart that summarizes how this “success formula” is used at Disney:

1- Know everything about your customer

Many people believe that delighting customers is being kind, kind, smiling all the time, and giving freebies. It helps? Help. Is it part of the customer enchantment formula? He does.

But it’s not enough. And more: if it is done without sincerity, it may even upset your customers!

The first step for anyone who wants to know how to delight the customer is to find out what he really wants.

At Disney, for example, employees (or cast, as they say!) are trained to “spy on” customer comments to see what they like and what isn’t. Thus, they can always improve their experience and adjust processes.

2- Show him that you know him very well

You’ve heard this phrase before:

– Wow, how did you know that this was exactly the gift I wanted?

This type of response shows that you know these people deeply. Who cares about her and wants to help her get everything she needs.

So make this clear to your customer as well.

You can use phrases like this:

– Remember that suggestion you gave to include uploaded images in the system? It’s ready!

– Look, I haven’t forgotten about that issue of deliveries only after 7:30 am at the south branch, everything resolved with the carrier!

– Tomorrow I will visit a client near your company. How about lunch at your favorite steakhouse?

3- Make your customer feel at ease

Is there anything worse than talking to someone and feeling that this person is “full of fingers” without connecting with you?

To break the ice before going into business details with your client, it is ideal to use the knowledge you have about them, including personal ones, to get into something they like.

So, if you know he’s a tennis fan, comment on a game you’ve seen. Or if he talks a lot about international travel, ask for advice and suggestions for a place to visit. People love helping others with things they believe are “experts”! 

Just avoid at all costs subjects that could be controversial, such as politics and religion.

When the customer gets in tune with you through a personal identification like these, it’s already halfway to channeling them!

4- Prove to your customer that he can trust you

Just showing that you know him and generating a connection is not enough to delight the customer.

After all, both you and he are there to close deals and show results. So present hard data that shows you’ve had success with other customers, interesting cases from companies using your solution.

The ideal, too, is how the solution used by the client starts to have the desired effects, create a presentation and show everything he has achieved with the help of your company. It may be necessary to request data for it. So, invite them to give a testimonial, put together a professional-grade video, and ask for their permission to share it.

5- Initially, meet your needs

The enchantment process is gradual. Follow the steps presented calmly. Don’t go too thirsty for the postage, it can amaze your customer!

Get to know him, create an identity, meet his needs, and when he thinks he “just finished” serving you, take the next step.

6- Then, surprise him: exceed your expectations

It’s like the example we gave right at the beginning: the service provided to entrepreneurs looking for new car stereo suppliers was very good at both companies.

But the second one exceeded expectations, went further and, thus, knew how to delight the customer.

Thus, there were two moments that the customer will remember: the first was when he was satisfied with the good service. The second was an incredible surprise that enchanted him. This creates a climax, something he will hardly forget.

7- Don’t let this experience end

After this first achievement, it is important to continue to maintain a relationship that continues to delight the customer.

For that, you must always innovate, launch new products and services, and be creative. Keep in touch and continue to show that you know him better and that he can not only satisfy his needs, but also surprise him at any time.

That’s what he wants. But, whenever possible, deliver that extra something. That’s what will delight your customer!

 

How to increase lead response rate? 7 tips to apply in the commercial routine   

sales

answer rate

The quality of the product or service, unfortunately, is no guarantee of success in sales. Sometimes, even your best salesperson, offering an amazing solution, can handle a low lead response rate.

This does not mean, however, that all is lost. In fact, quite the opposite: it’s possible that your company already has what it needs to prospect more and obtain a more positive return rate, improving conversion rates in the funnel. But for that, you need to know how to use the tools and data that are available correctly! How much is this already guaranteed in your commercial operation?

If you still need improvement, in this article we’ll introduce you to 7 actions you can take immediately to improve your response rate. Check out!

Bonus: make your team achieve high sales performance with our CRM platform

Agendor is a CRM and business management platform that works as a control panel and personal assistant for B2B sales teams.

7 tips to improve the response rate

The low response rate can be motivated by different factors, such as lack of alignment between audience and product, inadequate approach, slow results analysis to adapt the route when necessary… The important thing to emphasize is that it does not necessarily mean, that your team is selling in the wrong way, just that there is an opportunity for improvement (there always is) in management focused on high performance.

If that’s your goal, check out our tips to improve your response rate below!

1. List segmentation based on ICP

We all know how important it is to segment lists to get good results, but for a potential customer to actually read an email or return a call, your segmentation must be very precise according to what you already know as a profile. Capable of bringing better results (whether by adherence to the solution or by other factors).

Below, we’ve listed some criteria that can help you filter the most suitable leads according to your Ideal Customer Profile (ICP):

Contact and company details

Who are the people behind your leads? Contact information (age, city, position, etc.) and company information (size, location, sector, etc.) are essential for you to profile potential customers, especially in cold calls or cold emails. You can get them through marketing tools and through your CRM system.

Lead behavior

Does the software used in your company collect information about the content read and pages accessed by leads on your website? Is the prospect interested in news about the business or just content that brings tips?

In Inbound strategies, this type of data can say a lot about your lead and further refine your targeting when selecting the audience for a campaign.

Stage in the sales pipeline

The sales pipeline is a tool that presents the opportunities in your business and at which stage of the process they are. CRM shows which stage of the pipeline the lead is at and this location can be another criterion to consider when approaching by email or by phone, so use this tool to your advantage!

Purchases historic

If your goal is also to reactivate old customers, you should look at their entire purchase and communication history with them to direct different approaches according to this already built relationship.

2. Creating custom sales scripts

The sales script is a crucial tool to guide the commercial routine and allows your communications with leads to be faster and more assertive. It’s very important that commercial teams have a standard script, but we know it can’t be plastered. It should only serve as a guide, leaving room for necessary adjustments.

These are precisely the customizations that need to be made, based on the data you already have about your leads.

Therefore, a decisive factor to increase the response rate is the creation of custom scripts, targeted according to established segments — by profile, industry, stage in the sales process, etc.

3. Evaluation of results to adjust interactions

Your lead interaction history can also be a key resource in your quest for more returns than you have today. You can analyze this data to understand the reasons for lost prospecting and how to improve contacts.

Analyzing the previous results, it will be possible to identify the potential customer’s preferences in terms of type of speech, channels, days of the week and times, sending frequency and others. That way, you will have the foundation to adjust interactions effectively.

Here, it is very important to reinforce the need to continually run tests to compare results, even when response rates appear to be adequate. This is how this indicator will always remain within the ideal level for accelerating leads in the funnel.

4. Message automation and follow-up

At what times do your prospects seem to be most receptive? Do they usually read emails sent early, throughout the day or at night? By analyzing your activities, you will know when the best time to reach them is and, through tools that allow automation, you can schedule shipments in advance. In other words, if this time is when the seller is busy in other activities, the opportunity for a better return is not lost.

Also, it will be very difficult to get a high response rate by making a single contact. You need to develop a sales cadence by automating follow-up messages and ensuring that you are really present in prospects’ inboxes.

5. Lead Response Time (LRT) Monitoring

Lead Response Time, or lead response time, is the term used in Inbound Marketing to designate the time it takes the salesperson to respond to a stimulus. In other words, follow-up on a contact who entered the lead base or talk to a prospect who gave some kind of feedback.

It turns out that this person’s time of interest is limited, so if the sales rep doesn’t respond at the right time—that is, quickly—he’s very likely to lose the sale.

So, speaking of increasing the response rate, this is one of the most important sales indicators to monitor!

6. Creation of a discard flow for future contact resumption

Discarding leads can be difficult, but it is undoubtedly very necessary so that they can be nurtured and become real opportunities when the time is right. When interacting with unqualified leads, you stay in place and your response rates will remain below what you want.

With the help of the CRM platform, you can create disposal flows based on the reason for the loss of the prospect and ensure that they will be prepared so that contact can be resumed in the future.

7. Integration with marketing automation tools

Speaking of nutrition, marketing automation technologies are very important to nurture and advance leads right up to the point of purchase. Therefore, having a CRM system integrated with these tools represents a great differential.

The integration allows you to automate the receipt of leads in the funnel, also enabling salespeople to focus on qualified leads, that is, real sales opportunities.

See more about the importance of aligning Marketing and Sales:

To increase the response rate, you need to have a data-driven sales operation!

We’ve talked a lot in these tips about the importance of using tools and data to guide this mission of getting returns from leads, but what are these features and where does the data come from?

You can even extract some information from spreadsheets or manual surveys, but to obtain the necessary agility for decision making, the CRM system will undoubtedly be your greatest ally – considering, of course, that it is properly implemented and has the team engagement in your update.

 

Inside Sales vs. Field Sales: concept, differences and what can one teach the other?

outside selling

inside-sales-vs-field-sales

Customer behavior is changing and with it come the changes in the sales process of companies, which take place to enable organizations to meet new market demands. In this scenario we have two protagonists: Inside Sales vs. Field Sales.

While Inside Sales is the method of inside sales, in which salespeople interact with customers through channels such as phone, email, social media, and remote meetings, Field Sales is the opposite: a field sales model, in that the salesperson’s role is to go to the customer in person and initiate negotiations.

The Field Sales model is a more traditional sales model, which has as a great positive point the capacity for greater connection between customer and seller.

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However, with the changes in the current market, Inside Sales has already become the most used sales model in the market. According to Inside Sales Benchmark Brazil 2020, 68% of companies already adopt the method as their primary sales channel.

This is because the Inside Sales method allows for a reduction in the operating cost of sales and an increase in salespeople’s productivity. 

Without having to go to the client, professionals in the area make better use of their working time, being able to contact many more prospects in the same day than Field Sales professionals.

In summary, while Field Sales generally allows for a closer and more intimate relationship between salesperson and customer, Inside Sales the possibility of escalating sales is even greater.

Even with their differences, the relationship between Inside Sales vs. Field Sales need not be one of exclusion. Many companies already implement both within the p or c less of van of.

But, even if your company does not consider integrating these of the models, and already has a “preferred”, it is always possible to learn something with another method.

Advantages and disadvantages exist in both and the possibility of evolution by knowing more about another sales model can increase your results.

That’s why, in this article, we’ll introduce you to what Inside Sales can learn from Field Sales and vice versa.

What can Inside Sales learn from Field Sales?

One way to understand the relationship between Inside Sales vs. Field Sales is to understand what one can contribute to the other. After all, what can the Field Sales model teach the Inside method?

Personality in communication

This is one of the great advantages of the Field Sales model. After breaking the first contact barrier, it is common for face-to-face meetings to generate more sympathy between the parties, which generates a more personal contact between salesperson and prospect.

Face-to-face contact creates a closer relationship, allowing for more personal conversations and a more individualized relationship.

Of course, this depends on the type of customer service offered and the openness the prospect offers, or not.

However, there are more chances for a more personal relationship to be built.

Inside sales tend to be more objective and very business-oriented. That’s why, if your company applies Inside Sales, it can try to establish a more personal relationship with the contact, also creating opportunities to talk about more personal matters, even if it is in a remote service.

Greater connection between customer and seller

As a result of more personal contact, field sales can establish a “stronger” connection between the parties involved.

This connection can represent more customer confidence in the seller’s knowledge. This can make the sales consultant become a reference for the customer within the organization.

Learning to create opportunities to strengthen the connection between salespeople and prospects is something that the Inside sector can also absorb from external sales, to generate greater trust and credibility.

What can Field Sales learn from Inside Sales?

Just as Inside Sales has a lot to learn as Field Sales, the opposite is also true. The internal sales model offers a range of knowledge that can be used in different ways by the external team. Understand, below.

Sales activities management

You may have heard that Inside Sales is a numbers game where the logic is: the more calls your team makes, the more meetings are scheduled and, in turn, the more sales are made.

In Inside Sales, the control and focus of carrying out activities is very important for the entire sector to work in order to achieve the organization’s goals.

The fact is that even with street vendors, many Inside Sales activities are also carried out by Field Sales professionals and the focus on managing and controlling these activities is also a way to expand the sector’s performance. 

Use and data to improve and evolve processes

Keeping track of sales performance indicators to continuously optimize the results of each step of the sales process is also one of the basic principles of Inside Sales. And yes, it should also be a core aspect of Field Sales, but it’s common to find sales processes that are less metrically controlled when we talk about field sales.

Currently, to become a high-performance sales team, all contacts must be monitored, phases of the sales pipeline must be understood and optimized.

Data management at each stage allows you to identify bottlenecks and failures and optimize these elements for better results.

Focus on sustainability and scale of the sales operation

Even by the nature of its existence, the Inside Sales model is concerned 100% of the time with the ability of a business process to sustain itself and scale.

The model was created with this objective: to allow the growth of the sales sector without the direct need to increase the number of employees, for example.

In this sense, Inside Sales operations, in general, are much more concerned with these aspects than field operations.

Management that developed a culture focused on evaluating the cost of acquiring customers and constantly optimizing this result would be of great help for field sales.

Use of sales management tools

An Inside Sales operation without customer prospecting tools is not a commercial operation.

Technology is inherent in internal sales, and it should be in relation to external sales as well, but it isn’t always. Unfortunately.

That’s why Field Sales must learn with Inside Sales to prioritize the organization of all stages of the sales process within a specialized tool.

It is essential that this tool is constantly updated, ensuring valuable information and performing important automation for the relationship with the customer and the advancement of all leads through the prospecting stages.

It is important to remember that a tool like this also ensures that the team identifies the prospects with the greatest conversion capacity, so that they can be prioritized, without the others being forgotten.

Inside Sales vs. Field Sales: Models that should adopt consultative sales

In the Inside Sales vs. Field Sales relationship, the prioritization of a consultative sales model must be present in both.

By prioritizing the consulting relationship between salesperson and customer, the company guarantees:

  • offering a better customer experience,
  • better retention rates,
  • churn reduction,
  • Better results in relation to customer lifetime value and more.

 

Omni channel Sales: what they are and why bet on this strategy in B2B

B2B Omni Sales

Sales-Omnichannel

Selling is an increasingly complex science, which requires refined strategies to deliver the best to the customer, with diversification and modernization throughout the entire purchase experience.

Therefore, a concept that has gained strength and brought good results is Omni channel Sales, a model that connects and integrates online and offline channels.

Do you know what this concept means and how it can be applied in your commercial management?

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Good reading!

What are Omni channel Sales?

The term Omni channel refers to the simultaneous and integrated experience of different channels throughout the shopping experience.

In fact, the origin of the word says exactly that: “Omni” comes from Latin and means integer, while “channel” comes from English and means channel.

In practice, you experience as a consumer an Omni channel sale every time you buy a product or service combining online and offline channels. For example, visiting the physical store of a shoe website to try the one that caught your attention, and you can complete the purchase online, within the point of sale.

Another example is the possibility of making an online purchase and withdrawing from the physical store. Or, while at the point of sale, check the online catalog to make your purchase of items that are not available locally.

The common point in all these examples is the integration of the virtual and in-person experience, reducing what can be an obstacle for the consumer to close a deal.

And what are these different channels that can be associated in Omni channel Sales? Here are some examples:

  • Online channels: website, app, chats, social networks
  • Offline channels: physical stores, sales booths, events, phone calls, meetings.

Omni channel Sales vs. Multichannel Sales

Perhaps, at this point, you remember another similar sales model, Multichannel or Multichannel. And, despite being similar, it is important to emphasize the difference between the two.

In Multichannel Sales, there are also different sales and communication channels with customers and potential customers. However, in this case, they are not integrated.

In other words, consumers can even choose between buying in the store, on the website or in the app, however their experience in each of these channels will be independent, finding no connection between them.

At Omni channel, on the other hand, the greatest value is in the integration, in the fact that the consumer is treated as unique and feels that this happens at every touchpoint.

Why is Omni channel on the business agenda?

We said at the beginning of this article that selling is an increasingly complex challenge.

There are numerous factors for this, such as:

  • more competitive market;
  • tight trading margins;
  • Change in the profile of the consumer, who now arrives better informed and connected to the seller.

For this reason, delighting the customer is the watchword. But you can’t think that just being careful in the service is enough for that. It is necessary to reduce any friction that may exist along the purchase journey.

When we talk about friction situations, especially in the B2C segment, they can appear in multiple situations. A good example is something common for online home or clothing sales: experimentation.

How to choose a shoe without trying it on? How to buy a bed without testing its comfort? To this end, many online marketplaces have invested in Omni channel Sales, creating physical points of sale solely to reduce this friction, allowing consumers to try the available items, make a purchase through the website and receive the order at home.

Combining the best of the online experience with the best of the offline is, therefore, one of the great values ​​of Omni channel Sales. Consumers undoubtedly see this integration as an excellent shopping experience!

To summarize what is best about implementing Omni channel Sales actions, we list below some of its main advantages for business:

  • Using the best of each sales channel to promote an experience that best converts
  • Increased customer satisfaction
  • Business process optimization
  • Better understanding of the persona
  • Cost reduction

Of course, to make the most of any of these benefits (or, for that matter, a bunch of them), you also need to think about the bottlenecks of your own operation.

For example, if maintaining a large physical point of sale entails high costs, one solution is to maintain a smaller store, with only display items, purchase completed online and order delivered at home.

Does B2B sales work on the Omni channel model?

Throughout this article, you may have noticed that Omni channel Sales is already part of the B2C segment, especially retail. Even though there is still a lot to be developed, the model is certainly already more consolidated than in B2B.

This, however, does not mean that there is no possibility of channel integration in the operations of companies that sell to other companies. On the contrary, there are many opportunities in this regard. And they are waiting to be taken advantage of!

Just as in B2C the consumer wants to have a unique experience, the same happens in B2B. Even more intensely: in a longer negotiation process, a purchase journey closely monitored and mapped makes even more difference, regardless of which channel the interaction takes place.

An example? Companies that develop Saabs (Software as a Service). This is a business model that often allows for self-employment through the website itself.

But there is also the possibility of hiring through offline channels, such as connection, face-to-face meetings, among others. This is great for businesses that are finally able to offer a 24×7 service, even if driven by automation.

However, situations in the market in which the potential customer begins their shopping experience in the online environment are not rare and ends up preferring an offline contact (or vice versa), receiving different trading conditions. What a lousy experience!

In Omni channel Sales, therefore, it is important to offer the same conditions and the same standard of service. And this even refers to price, promotion and discount.

To ensure the successful implementation of an Omni channel Sales model in B2B, we recommend that the following steps be identified and followed:

1. Understanding your persona’s buying profile

Before transforming the sales model and building channel integration, you first need to know what makes a difference to your persona’s shopping experience when it comes to converting more and faster.

2. Mapping of sales and communication channels

No need to revolutionize your sales operation. Possibly your company already uses different channels to interact with prospects and customers.

Understand which ones are most effective for each step of the buying journey and identify gaps that can be closed with new channels.

3. Closing the gaps between online and offline

Finally, since we are talking about closing gaps, the most important ones are those that can arise between the online experience and the offline experience.

For this, an extremely important tool is the CRM system, with accurate records of both virtual and in-person activity.

Is it time to integrate your sales channels?

Answering the question if it’s time to integrate your sales channels is very simple: as soon as possible!

Your company’s interactions with potential customers already happen both online and offline, even if you avoid it, limiting touch points.

Furthermore, Omni channel Sales is undoubtedly part of the future (and present) of business relationships.

 

The 6 most mistakes made by companies seeking differentiation based on Porter’s competitive strategies

companies

competitive-strategies-porter

The goal of any company is to achieve maximum profitability. According to Michael Porter, one of the world’s leading authorities on competitive strategy, there are only two ways to gain a competitive advantage:

  • low costs;
  • Differentiation.

These two concepts form the basis of any strategy vis-à-vis the competition, but the profitability of a company does not only depend on its positioning in relation to its competitors.

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It also depends on the structure of the sector in which it operates. That’s why it’s so important that a company’s leaders know perfectly well the industry in which they compete, especially the strengths and weaknesses of competitors and what types of intelligent segmentation they can do in their customer base (current, potential and inactive).

I often see companies trying to please all customers in the same way, which by definition is extremely inefficient and ends up creating a string of companies that are totally similar to each other in a given market or industry.

One way to avoid this is by studying your market. And, in this case, the best option is to use Porter’s 5 competitive strengths.

Porter’s Competitive Strategies: The 5 Market Forces

According to Porter, the profitability of companies depends on certain basic competitive forces, such as:

  • Rivalry with existing competitors;
  • Threat of substitute products or services;
  • Threat from new competitors;
  • Customer power;
  • Bargaining power of suppliers.

In this sense, according to Porter’s competitive strategies, there are 6 basic mistakes often made by companies when trying to develop a differentiation strategy.

The 6 mistakes in sales strategy and differentiation:

  1. Offering a product or service that, despite contributing greater value to the company, is not seen as such by customers and consumers;
  2. Exceed buyers’ needs;
  3. Fix very high prices;
  4. Not understanding the costs involved in differentiation;
  5. Not recognizing market segments;
  6. Create a differentiation that competitors can easily imitate.

Let’s look at each of them and talk about how to avoid them.

1. Offer a product or service that, despite contributing greater value to the company, is not seen as such by customers and consumers

There is a famous saying, often used in marketing (and politics as well), which goes:  Perception is reality.

That is, perception is reality. If customers don’t perceive you as adding value to their business, you don’t add value, period. To avoid this, the company must make an effort to educate its customers, clearly showing the benefits achieved by working together.

Although, as a nation, we are not very fond of statistics, it is time for Brazilian entrepreneurs to improve in this aspect, seeking to prove more objectively that their products and services “are worth what they weigh”.

In addition, our market is quite anemic when it comes to getting successful testimonials, another effective way to publicize the positive results of a particular product or service.

2. Exceed buyers’ needs

In the eagerness to delight their customers, many companies end up introducing totally unnecessary and superfluous novelties. Even if this doesn’t change the final price much, it is clear that without these “trinkets” the product or service could have a lower cost.

It’s important to delight customers, but it’s even more important to delight them with what they think is important.

In this sense, it is important that you ask yourself questions when defining your sales strategy:

  • What adds value?
  • What is just aesthetically pleasing?
  • What is superfluous?
  • How does this influence customer reaction when closing deals?

Find out what your customers value and use it as a weapon to delight them. The rest is wasted.

Remember that everything you present to the customer that they don’t value can be perceived as an unnecessary cost. You have a differential (which the customer doesn’t value) and you’re actually inducing a discount request.

3. Set prices too high

There are two ways to make money: charging high prices and having high sales volume.

Every entrepreneur’s dream is to have both, but we know that this rarely happens.

The high price has some advantages:

  • Fat margins (which help in marketing, as they can be distributed through commissions);
  • Elimination;
  • Status;
  • More money for marketing and advertising;
  • Etc.

But this has a limit.

The key is to find out what price will optimize a company’s profitability.

We must always think in terms of profitability, not just sales or revenue.

There is an ideal price (in terms of profitability) for each type of product or service, and the only way to find it is by testing it – up and down (I see companies that only test downwards… this is a very limited view and destructive of the pricing issue).

4. Not understanding the costs involved in differentiation

It may seem redundant to say this, but differentiation that brings more costs than benefits is detrimental to the company. Customers may love it, but what good is it if the company is losing money?

Differentiation is to be profitable and the two things (profitability and customer satisfaction) need to go together and not be mutually exclusive.

5. Not recognizing market segments

Many opportunities are missed because companies don’t recognize small niches in which they could be leaders without much effort.

Just adapt what you already have to the reality and demands of the public in these niches. This adaptation and agility are compensated with high levels of profitability, as people and companies are generally willing to pay a little more for products or services that are specific to their reality.

With small adjustments and the right attitude, you can quickly create customer segments and differentiation that they can value.

But you need to have the right attitude – if people (especially leaders) are already locked into the concept that there is no option, nothing can be differentiated, everything is a commodity, everything is price, etc., then there is no way.

As my father used to say, quoting a Spanish saying, “there is no worse blind than the one who does not want to see”.

6. Create a differentiation that competitors can easily imitate

True competitive advantage is one that is unique to your company. This can be done by working on the image (such as cigarettes and beers), investing money (in factories, real estate, patents, etc.) or, even better, by stimulating the creativity of the company’s employees. This can and should even be encouraged and trained in the team.

Ideas that lead to constant innovative actions are the biggest differential your company can have. But it needs to have an internal climate that allows not only people to have the ideas but to execute the ideas (excellence, efficiency and consistency in execution are BIG differentiators!).

As we can see, it is not enough just to try to differentiate yourself from the competition in any way.

There are actions that at first may seem beneficial, but which are actually harmful to the company’s financial health.

And the rules we all must respect are these:

  1. Perception is reality;
  2. Don’t offer more than necessary;
  3. Work with prices that maximize your profitability;
  4. Understand all the costs involved;
  5. Differentiate yourself also by working with niche markets;
  6. Finally: do things that are difficult to imitate.

If I may, I would ask Porter’s permission to add a seventh element to the list of mistakes based on Porter’s competitive strategies:

  • Train your team (the real difference that every company should have). And in that, the cover story of this issue can be very useful!

Hug and good sales,

 

How to Develop Leadership: 11 Tips for Your Personal and Business Growth

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The prospect of advancing in the career, conquering positions of greater leadership and taking on greater responsibilities is what makes the job challenging and exciting for many people.

Preparing to advance all these steps within a company requires, among other things, that you know how to develop leadership on the job.

A career plan needs to be built thinking about the development of your technical and personal skills, and, within that, the development of leadership in the company is one of the skills that need to be mastered.

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Some people are natural leaders, but anyone can learn how to develop leadership and muster the necessary skill set with some practice.

Here are 11 strategies to help you develop your leadership skills and continue to advance your career.

How to Develop Leadership: 11 Golden Tips

1. be passionate

No one wants to seek advice from someone who doesn’t care about the business as much or more than they do. Passion is effort. Passion never lets you give up. Without that, you stop innovating and start to stagnate.

When you demonstrate genuine enthusiasm and passion for the end result of your work, the team you work with will continue to work toward your goals.

Employees respond to those who are eager to help them learn and grow.

Show passion for everything you do, including your quest to learn how to develop leadership.

Your desire will be clear to your employees and will also inspire them to improve their own skills.

2. Set concrete goals

Even the most formidable leaders can’t succeed out of thin air. The biggest goal won’t be reached if you don’t chart a path to get there.

Spend time clarifying your goals and solidifying them.

By formulating the right plan and establishing meaningful benchmarks along the way, you’ll have a roadmap to follow, a methodology that will guide your business into the next week, month, year, and decade.

Once you’ve reached a specific goal, look to the next one. Constantly striving to achieve that other goal will give you and your employees a sense of meaning and pride.

The video below is from 2010 (I know it feels like another century), but it still makes a lot of sense in the relationship between leadership, business goals and the team. Watch the excerpt from the interview of Revisit Exam with Vicente Falcone.

3. Admit when you fail

Even the most powerful and inspiring leaders make mistakes. When you recognize an error, openly admit it and take steps to correct it.

Be open about your failures; discuss them with yourself and your team.

Learn from them. 

Ask yourself and your team, “How can I avoid making this mistake in the future?” 

Learning from your failures sends a powerful message to those around you. They understand that you will take it well even when you make a mistake.

Those who want to know how to develop leadership at work must learn to recognize successes and failures.

4. Know your team

All good leaders know their team members – their strengths, weaknesses and how people can best complement each other.

Take the time to really get to know their history, values ​​and dreams.

If you find this a challenge, make time in your schedule to make sure it happens, whether it’s a 30-minute luncheon or just a five-minute coffee run with someone you don’t know very well.

5. Help a coworker solve a problem

Watch someone who’s been super busy or stressed lately. Offer your free time to help him or take on some of his tasks. No matter where you are in the hierarchy, you still need to adopt the mindset of a team member – and that means recognizing the value of working together toward a common goal.

It takes great maturity to be able to prioritize what’s most needed and respond to it, even if it’s not immediately beneficial or interesting to you.

If you really work to be a support or mentor for your peers, you’ll learn a lot more about:

  • Communication;
  • collaboration;
  • Trust.

6. Take initiative and take on more projects

A great way to develop leadership at work is to take on more responsibility. 

You don’t have to take on more than you can handle, but you do need to do more than simply what is asked in your job description if you want to grow.

Stepping out of your comfort zone is the only way to learn something new, and it will cause you to be noticed by executives as someone who takes the initiative and cares about their own leadership development in the company.

7. Practice discipline

A good leader needs discipline. Developing discipline in your professional (and personal) life is a necessity to be an effective leader and to inspire others to be disciplined as well.

People will judge your ability to lead by the amount of discipline displayed at work.

Discipline at work can be demonstrated with attitudes such as:

  • Deadline accomplishments;
  • keep appointments;
  • Finish meetings on time.

If you’re naturally disorganized, you can start with little things: try to implement good habits at home, like getting up early and exercising daily, and work your way up from there.

8. Keep learning

The best way to develop leadership is to always keep learning new things.

Keep your mind sharp and your skills fresh. This prepares you for new challenges that may come your way, which is always a good thing in a leader.

Don’t just focus on learning technical skills. As we said above, this is fundamental, but it is not the only leadership technique that will make you grow in the company. You can invest, for example, in leadership and people management courses.

If you have the objective of developing the leadership of your employees, discovering and encouraging the emergence of new leaders, it is possible to carry out leadership training in the company.

9. Empower your teammates

Nobody is the best at everything, and the sooner you realize this, the sooner you can learn to be a good leader.

Delegating tasks to others not only frees you up for the things you do well, it also empowers others on your team.

10. Resolve Conflicts

Don’t be a manager who causes problems, be the one who solves them.

Not everyone will get along all the time. Rather than ignoring interpersonal conflicts, hoping they will go away, discuss them by speaking with those involved in private.

Also, be open to redeploying team members if the conflict cannot be resolved.

11. Be a demanding listener

Becoming a leader doesn’t mean you always have to be in the spotlight. An important trait of developing leadership is being someone who listens to other people’s suggestions, ideas, and comments and builds on them.

Good listeners know that communication is not just about words, but also about nonverbal cues like eye contact and body language.

How to develop leadership in the company

Good leadership skills are essential to advancing your career, but as you can see, leadership is much more than simply being in charge. As American statesman John Quincy Adams said, “If your actions inspire others to dream more, learn more, do more, and become more, you are a leader.”

If you believe that not only should you develop your leadership skills, but that your company should be more concerned about this aspect, the first step is to seek the perfect corporate training and capabilities for your current leaders and staff.