Some scholars examined advertising role in reducing consumers’ search costs. Search costs include the time and effort associated with obtaining and processing information while search benefits include lower price and / or higher quality. One fundamental concept of this is that a rational consumer will continue to search for and process information only to the point where the marginal benefits of doing so outweighs the marginal costs. Basing on this rational consumer will not necessarily process all available advertisement information.

They focused primarily on advertising as a source of price information where the perception of benefits accruing from searching for and processing adverts with such information would vary as a function of various factors including price variability. Economics of information (EOI) was later broadened to include advertising as source of information about product qualities in general thus making the benefits of finding and processing such acts vary as a function of the type product / attribute being advertised.

EOI distinguishes between products in terms of whether consumers can evaluate their critical characteristics before purchase (for search products) and after purchase and use (for experience products). It also suggests a relationship between buyers and sellers so much that sellers will provide information in manner consistent with their understanding of buyers’ beliefs. Thirdly it suggests that consumers will be more sceptical of advert claims involving experience products than search products.

EOI relies on correspondence between belief and perceptions and behaviour. More information is generally desirable and of interest to consumers to the extent that it does not create information overload. Belief and perceptions about a product (like white detergent is best when washing white clothes) may lead to a certain behaviour (choosing white detergent over blue detergent). This is an important factor in advertising.

In my humble opinion, the term sales manager is extremely misleading yet most companies continue to use this description for one of their most important positions. Let's think for a moment how sales are actually made. Do we as sales people create the sale through our dynamic personalities and outgoing demeanor. Hardly; we make the sale through our continued activity with the client. I will go out on a limb and boldly say we never manager sales, rather we manage activity. Should you disagree with this please read on.

Nothing happens until a sale is made! The truth in this age old comment sometimes amazes those new to the filed of sales. In a prior life I would always begin a sales meeting with this statement and always begin my interviews with potential employees with the same comment.

So, if we have to manage activity and nothing happens until a sale is made, how do we accomplish both tasks in order to be successful at the science of sales? The answer is rather simple. As the "Sales Manager" one must put into place some very simple but effective methods of managing activity. Some very successful and seasoned professionals will disagree with my suggestions and that is OK. If you are satisfied with the performance of your sales team and are making as much money as you want to make then stop reading now. Otherwise read on for some proven tactics.

The plan is very simple as one activity leads to another and eventually to a sale. Regardless of the amount of money being spent on the sale, the steps to making the sale are always the same and must be orchestrated if you are to be successful. We will discuss sales training another day so let's concentrate on the activity required and how to track it properly.

As elementary as it may seem, you must require each salesperson to make a predetermined number of sales calls per day or week but this number must be specific and rigid.

Second you should set a goal each week for number of demonstrations or proposals or both. Naturally the product will determine if you need demonstrations or presentations prior to the actual proposal. A good rule of thumb is to expect 5 personal contacts before a presentation can be expected and possibly more for the proposal. This varies from industry to industry.

Third, you should determine a closing ratio for each member of the sales team. Naturally you can use one of your successful salespeople as a benchmark but each salesperson has to have their own closing ratio. This an excellent method for forecasting sales and for modifying commission plans.

Fourth, each sales person has to keep a list of their top prospects and the sales dollars forecasted for the account.

Fifth, where is the account in the process? i.e. are they ready to make a decision or are they still kicking tires?

And sixth, every salesperson should keep a record, either electronically or written regarding personal information of every person involved in the process from maintenance person to executive Vice President.

There are always more steps that may be added or perhaps you might reduce some step but the key is to keep sales people from wasting time on non-productive accounts or individuals.

We all spend money on countless items each day and in my case I like to purchase costly items from someone I know. The individual who has sold me over 100K in automobiles during the last two years realizes the value of everything listed above especially step six. He knows a lot about my and my wife because he took time to ask the questions and was rewarded with us purchasing another vehicle from him recently.

Remember none of this is brain surgery and just takes a little effort to accomplish.

Being number one on your sales team just isn’t that difficult. Salesmanship is a learned skill. You can perfect that skill. Yes, it does help to have an outgoing personality, high self-esteem and an ego. But, these attributes alone won’t make you successful. Confidence in yourself, confidence in your products and confidence in your company is a key ingredient. The only way to gain this kind of ultimate confidence is by attaining knowledge. Study your products, understand your value propositions and understand what your competitive advantage is.

Value Propositions

Don’t blow this concept off as some sales training jargon. Value propositions are extremely important. You have one, your company has one and your products have them. What is it about you that creates value for your customer? What is it about your company that creates value for your customer? What is it about your product that creates value for your customer? It’s not features and benefits.

“Perceived Value drives customer expectations” “Performance value drives customer satisfaction”

Understanding is the Key

Understand yourself first. Determine your strengths. Recognize your weaknesses. Make a vow to work on improving those areas where you are weak. To excel at anything you must have confidence and confidence comes from experience and knowledge. Recognizing your weakness puts you in a position of strength because you become familiar with your limitations and what you need to do to overcome them. Personal understanding is critical to understanding your customers. And, if you don’t understand your customers it is extremely difficult to discover their pain.

Be Honest with Yourself

The road to success in sales requires a kind of personal honesty that not everyone is capable of exercising. That specifically is why we all can’t be superstars. Part of becoming a superstar in sales is understanding people so well that building relationship equity is almost automatic. A skill that becomes inherent to your personification. This can’t happen unless you understand yourself first. People grow and change, you grow and change so this concept of knowing yourself and really knowing your customers is a living changing thing that you must always be conscious of. The more your customers change, the more you must change and adjust. This requires a certain amount of intuitive judgment and a perspective on helping the customer solve their problems to such an extent that you can see the forest in spite of the trees.

You Can Change Yourself but You Can’t Change Your Customer

Selling is all about understanding your customers. Accepting your customers as they are while understanding their specific wants, needs and desires for what they are and not what you would like them to be. This puts you in a position of strength in building a personal relationship with the customer. Don’t succumb to the common trait called impatience if your customer has trouble identifying his real pain. Often times it is up to you to help him discover that pain and in turn recognize the value you and your company provide by eliminating that pain.

Sales is a Profession to be Proud Of

Learning your product, making a clear presentation to qualified prospects, and closing more sales will take a lot less time once you know your own capabilities and failings, and understand and care about the prospects you are calling upon. You must become a total solution provider regardless of the circumstance or situation. Sometimes solving a customer’s problem will have nothing to do with your product or your company. That doesn’t matter. Solving the problem builds relationship equity and relationships are still extremely important even in this century when a relationship is required to even get into the game. Selling occurs all around us all day long. Our mere existence is predicated upon selling something all the time. That something can be anything from a product to an idea, a concept or even a philosophy.

Anybody can sell to some degree and we all do it without exception. However, to be a professional sales person that reaches star status, accepting these concepts as truths is the starting point. Accepting the concepts described in this article will enable you to understand that salesmanship is not a born trait. Agreed, there are some personality traits that may help you create success quicker but true professional sales skills are learned.

An old sales buddy of mine once said;

“You can send a gorilla out on the road and if he calls on enough people, if he doesn’t give up, sooner or later someone will pin an order to his chest and send him home.” --------Brian Williamson

Maybe you know some sales people like that. If you do rest assured they aren’t the professionals we are talking about. Sales is a profession that requires professionals. It’s a profession to be proud of. It requires persistence, tenacity, confidence and understanding. Study yourself, study people, do your homework and never forget the basics. Targeting, goal setting, action planning and follow-up never go out of fashion no matter how much of a star you become. Never forget where you came from and how you created the success you create.

Getting up out of bed in the morning; doing what has to be done to excel in sales; keeping records, updating your materials; planning the direction of further sales efforts; and all the while increasing your own knowledge – all this definitely requires personal motivation, discipline, and energy. Being a professional sales person is not easy. It demands creativity and innovative thinking.

So when you become a superstar in sales, use this list of basic reminders to help coach and mentor some of your peers so you can create the most dynamic sales team in your industry.

Sales Basics

• Meet and qualify all the accounts in your territory before you begin to focus on a few.

• Do your homework. Know your company first; the strong points, the weak points. Know who and what your internal resources are. What is your company’s sweet spot?

• Do your homework. Know your customers. What do they buy? How do they buy? Who are their five largest customers? Research your customer and their industry on the web. Become an industry expert for your customer. Meet people and cultivate relationships beyond your customers purchasing department.

• Create a call plan prior to every call. The objective can be as simple as getting an appointment with someone higher up in management to meet with your management on a subject as complex as a full-blown PowerPoint presentation designed to secure a contract.

• Keep a data record on every buyer at your major accounts. Get to know him as well as his family knows him.

• Create an itinerary for each week. Know what you are going to do. Set at least two base appointments in the morning and afternoon with major accounts. Fill in around these appointments as appropriate.

• Know your customers’ personality. People buy from people so develop a relationship with each of your customers. PIMS (Personal Information Managers) or sales programs such as TeleMagic and Goldmine have a place for this information. Use it, or put it in your spiral binder. Nothing is more important to Jennifer than her daughter’s ballet or to Bill than his golf or his son’s little league, BUT do not waste your time or theirs. Some people will reject you as a time waster if you talk about this, others will keep you on the phone for hours with trivia. Know your customer and control the conversation. Your job is to sell and move on but do it in the most productive and effective manner and only you know what that is for your customer.

• Create a territory plan. Establish goals, identify milestones, create a time line and engage all your resources including upper management.

• Create an action plan for every major account. Know your customers’ “Rules of Engagement.” What keeps them up at night? Create a strategy that involves your entire team including the President of your company if appropriate.

• Set specific goals and objectives. Write them down.

• Maintain a positive attitude. Don’t procrastinate on anything.

• Keep your promises. Don’t make promises you can’t keep.

• Sell yourself first. Develop a trusted relationship, and then sell your company.

• Know your competitive advantages and your company’s core competencies.

• Think creatively. Think outside the box.

• If voicemail is blocking your contact, call someone else’s extension as if by mistake and ask them to transfer you. Voicemail has become the “gate keeper.” Call early before business hours or later after business hours.

• Listen more – speak less. Get your customer to talk about himself/herself. If your customer spends most of the time in a sales call talking about them, they can’t help but like you. Apply the 80/20 rule – listen 80% of the time.

Most Sales Managers accept the premise that the majority of salespeople will achieve their sales goals if they follow a focused and disciplined sales process combined with flawlessly executed consultative sales skills. Unfortunately, based on my experience working with hundreds of sales professionals, there isn’t a lot of evidence to suggest that Sales Managers are providing direction and feedback on anything but the sales process (“what to do/not to do” - goals, priorities, reports, etc.), leaving salespeople isolated to figure out “the how to” execute the process using their existing sales strategies and skills.

I’ve often heard the argument that “experienced” salespeople don’t need to be coached on “the how” because they are hired and paid for their existing sales skills. This way of thinking can lead to not only frustrated salespeople, but also average results with salespeople stuck in the “comfort zone,” unable to adapt to a dynamic, highly competitive landscape.

A recent conversation I had with a Sales Manager highlights the nature of the problem and his lack of understanding of how salespeople develop, refine their skills and achieve breakthrough sales results:

Me: How are you coaching your salespeople?

Sales Manager: I have weekly meetings.

What happens at the meetings?

I put up the results, you know the pipeline, and everyone gets to see how well they are doing relative to each other.

How do you see this as coaching?

The salesperson who’s at the bottom knows where he stands; can see that his performance is, you know, “light.”

OK, I agree some “peer pressure” can motivate, but what do you think he’ll do differently as a result of his ranking at the bottom?

I’m hoping he’ll fill his pipeline.

How do you think he’ll do that?

He’s got to get better on execution.

What type of execution?

Prospecting. We are unknown in this marketplace and he’s not very good at getting in the door with prospects.

Have you coached him on this?

Yes, I told him he needs to see at least five prospects per week.

In the above example the Sales Manager tells the salesperson “what to do” (make five prospect calls per week), but fails to address the more likely underlying problem: the salesperson’s struggle with the same old obstacles, using old habits and ineffective strategies and skills. Obviously, the salesperson will try harder because he is under greater pressure to fill the pipeline, but he may not succeed if he doesn’t have the skills to gain meetings with prospects.

I’m flabbergasted during sales training when I hear I’m the ONLY person who provides skills development feedback. After skills coaching, it’s not unusual for me to hear a resounding “thank you” and comments such as:

“I don’t get any coaching, except when my numbers are down, and then my manager sends me an email saying that I need to quickly improve.”

“No one ever tells me what I’m doing right.”

“I wish I had this feedback years ago. It’s nice to know that I can improve, because I’ve been so frustrated.”

If you are a Sales Manager, you need to hear this! The “what to do” is not the “how to do it.” Salespeople are starving for developmental skills coaching! Now I don’t mean that they need feedback on sales goals, results, wins, losses, etc., you probably already provide enough of that. Salespeople are hungry for direct, specific and practical coaching on what they are doing that’s effective, and what they ought to be doing to increase effectiveness. This type of coaching is skills development coaching.

Success in today’s dynamic marketplace requires a greater focus on skills, such as effectively persuading prospects to meet, determining needs and priorities, focused listening, differentiating the organization beyond price, sales planning and negotiation skills. Sales Managers who can help their salespeople develop these skills accept their full responsibility to ensure salespeople have the focus, discipline, and highly refined strategies and skills to thrive.

Don’t wait until the holidays or retirement offers you the occasion, take the time to recognize your employees’ diligent work ethic today! Whether you’re a corporate CEO or a small business entrepreneur with a staff of three, showing day to day employee appreciation will be worth your time and effort: such recognition serves to reinforce employee accountability as well as enhance work-place motivation overall. Here are some surefire methods for both showing your employees that you appreciate their hard work and improving work-place motivation:

1) Recognize your Employees with Fruit or Wine Baskets

Giving industrious employees gift baskets sends them the message that you recognize and appreciate their hard work. Due to the great variety of gift baskets available online, gift baskets are also a very convenient and time-efficient way of showing your appreciation. Some generous employers arrange for the regular delivery of fresh fruit baskets to the work place or their employees’ homes. In addition, a wine and cheese basket is a wonderful way to say to your staff, “job well done!”

2) Offer Health Club Memberships to Your Employees

A productive work place is dependent upon happy, healthy employees. Daily exercise not only provides great stress release, but also boosts the immune system. In providing your employees with health club memberships, you will not only be increasing their on the job satisfaction and productivity, but also reducing the number of employee sick days your business must pay for each month.

3) Create an “Employee of the Month” Program

The best way to develop an Employee of the Month program is to ask all levels of staff to work together to choose the monthly awardee. This important measure will prevent the Employee of the Month Club from becoming a way of selecting “favorites” and will keep it from becoming a point of ridicule by employees. In fact, Employee of the Month selection can be a valuable collaborative exercise for your employees as they work together to select the most worthy recipient; it will also add an element of social pressure for high work performance. Employees are often eager to recognize colleagues who are sincerely doing their part to make the work place run efficiently and productively, and such recognition will be a source of reinforcement and motivation for the recipient and others. You might produce a certificate to present to the awardee and also display the employee’s name, photo, and a brief bio in a prominent place in the workplace.

Try some of these ideas today and you will soon see a positive change in your work environment!

There are many ways to get cheap auto insurance for your car. Perhaps you want to switch auto insurance companies in order to obtain cheap auto insurance for your car. Or, maybe you want to make some safety changes to your car in order to get cheap auto insurance for your car. Whatever you want to do, chances are you will spend some time searching for the auto insurance company that will give you the cheapest auto insurance quote for your car.

However, the situation can change when you are buying a new car. You may or may not already have an auto insurance policy. You may or may not want to keep that auto insurance policy. Whatever the case, part of the shopping process when you are shopping for a new car is to make sure you have an auto insurance policy before you drive it off the lot.

Instead of frantically searching for an auto insurance company that will give you cheap auto insurance for your new car, take advantage of one of the new features some car lots have integrated into their customers’ car-shopping experience. These car lots have set up computers with Internet access to allow their customers to search for cheap auto insurance policies for their new cars!

Not only is this extremely convenient for customers; this is also a wise financial move for car dealerships. Many times a car salesman has a sale just within reach and loses it because the customer needs to figure out his or her auto insurance situation first. With this new addition to the car shopping experience, customers can shop for cheap auto insurance policies for their new cars right inside the car dealership!

If you have the chance to use this auto insurance shopping feature, make sure you compare as many cheap auto insurance policies as possible. Don’t rush just because your new car is waiting for you.

If your car is completely paid for, chances are you’ve dropped the full coverage car insurance your lender was requiring and now simply have your state’s minimum liability insurance requirement. However, there’s no getting around it – when you need to buy a new car, you need to buy a new car. Having your state’s minimum liability insurance is not worth your safety, after all; nor is it worth the money you will spend in repairs if your car is in bad shape.

The good news is it’s possible to get a cheap car insurance quote when you buy a new car. You just have to keep that cheap car insurance quote in mind as you are shopping for your new car.

The surest way to get a cheap car insurance quote when you buy a new car is to make sure your new car is as safe as possible; undoubtedly, the safety features of your new car will affect your decision anyway. The safety features most car insurance companies look for include those that keep everyone safe; those that prevent your car from being broken into and/or stolen; and those that are compatible with external safety features.

In order to keep yourself, your passengers, other drivers, and pedestrians safe, make sure the new car you buy has anti-lock brakes, automatic safety belts, and air bags for each passenger. You may also want to look into child safety locks.

Help keep the new car you buy from being broken into and stolen by purchasing a car with automatic locks and a safety alarm system. If you can’t find a car with a safety alarm system, you can always have one installed.

External safety features include child safety seats, and many car manufacturers are now designing cars that are more compatible with these seats.

When you buy a new car, put safety first in order to get a cheap car insurance quote.

Yes, it is true – well, in most cases. Many lady drivers are able to get cheaper car insurance quotes than men drivers. Are men drivers cursed by their gender? Perhaps not. They just need to know the secrets of lady drivers.

Buy a safe vehicle. Safe vehicles get cheaper car insurance quotes than vehicles considered unsafe, and safety does not only include seatbelts, air bags, and child proof locks. A safe vehicle will also include anti-theft devices.

Buy a modest vehicle. Modest vehicles are less likely to be stolen, and vehicles that are less likely to be stolen are less like to be expensive to insure. You don’t have to buy a minivan to get a cheap car insurance quote, but buying a Jaguar isn’t going to work in your favor.

Be good to your vehicle. Being good to your vehicle means not putting your vehicle in situations where it can become damaged or stolen. Drive like you have some since – do not push its limits. Park your vehicle in a garage when it is not in use. If you do not have a garage, find out about renting garage space in your area – if you have one within walking distance, or installing a bright outdoor light near where your vehicle is parked.

Drive responsibly. Driving responsibly includes driving the speed limit, obeying road signs and traffic lights, and following the general “rules of the road” altogether. When you drive responsibly, you avoid traffic citations and car accidents, and when you do not have these kinds of blemishes on your driving record, car insurance companies see you as a responsible driver. Your efforts do not go unnoticed. Responsible drivers with clean driving records get cheaper car insurance quotes.

Grow up. Alright, maybe “grow up” would be better phrased “grow older.” The older and more experienced a driver gets, the lower the car insurance quotes and rates become – regardless of gender.

Obviously, everyone wants a car insurance company that offers them the best coverage at the best rates; however, there are more things to consider when you are shopping for the best car insurance company. You want to choose a car insurance company that isn’t just out to lure policyholders – you want an insurance company that will treat you right.

Keep these factors in mind.

Rates, Payments, and Rewards

You want to choose a car insurance company that offers different payment options, rather than just one option of payment set in stone. Many car insurance companies allow their policyholders to choose between paying in installments – usually monthly or quarterly – or paying the entire premium at once. Some companies even offer discounts to policyholders who choose to pay their premiums in one lump sum.

Ask if the insurance company recognizes drivers who do not drive much; some companies lower rates for that. Some also offer discount rewards for those driver who go long periods of time without filing any claims.

Discounts, Discounts, Discounts!

Look for companies offering a multitude of discounts. You may not be eligible for every one of them, but the more they offer, the higher your chances are of being eligible for a few of them. A few discounts that may be of interest to you include discounts for safe drivers and teenage drivers who make good grades; discounts for active or retired military personnel; discounts for buying more than one insurance policy from the same insurance company; and discounts for having anti-theft and additional safety equipment installed in/on your car.

Extras

Car insurance companies offer various extras that policyholders can add on to their car insurance policies. An example of an extra would be roadside assistance. While some companies offer roadside assistance as a standard extra, some offer it as an add-on. These add-ons are nice, but if you’re not careful they could simply hike up your premiums.

If you’re a female driver, you already have a head start for getting cheap car insurance. Car insurance companies take into consideration statistics claiming that, overall, female drivers are:

• More likely to drive a safer car than male drivers.
• Less likely to commit traffic violations and get traffic tickets than male drivers.
• More likely to choose an economical car that gets good gas mileage and doesn’t cost a fortune to repair.

According to statistics, female drivers also file fewer car insurance claims to their car insurance companies than do male drivers; whether this means that female drivers are involved in fewer accidents or that they just don’t report every bump and scratch is up for interpretation.

In any event, statistically speaking, most female drivers are less risky to insure than most male drivers, which means they are more likely to get cheap car insurance than are male drivers.

However, if you’re a young female driver, you still have an obstacle to overcome. It’s a big obstacle, actually – your age. Young drivers, regardless of gender, normally don’t get the cheap car insurance quotes that older drivers get. Car insurance companies take precaution when offering car insurance quotes to young drivers – male and female – because they are inexperienced. Of course, inexperience means a great risk for car accidents.

Don’t let these statistics discourage you. Being a young female driver also means you have time to start taking the necessary steps to build a great driving record. As long as you drive safely, preventing car accidents, and obey the rules of the road, preventing infractions and tickets, you will avoid points on your driving record. Car insurance companies look at a driver’s driving record when deciding how cheap the car insurance quote should be.

Also take a driver education course. Most high schools offer them, but if yours doesn’t you can take one from a private company in your area.