Saturday, April 22, 2006

Retail Sales Training - Get the Sale, Lose the Customer

Click on the link to listen to this sales tip...

I find it fascinating that some companies think that it is more important to take advantage of every sales opportunity without thinking of the consequence of their actions. Here’s an example,
A few weeks after returning my leased car to the dealership, I received a bill that included an “excessive wear and tear” charge for a very minor scrape on the bumper. I paid the $425 charge but vowed to never, ever buy or lease a vehicle from that manufacturer again. Considering that I lease two new vehicles every four years, this translates into at least 14 vehicles I will lease or buy over the next 30 years. This means the company sacrificed $324,000 in potential revenue in order to capture a $425 sale.

In a retail environment, it is not uncommon for a store to ‘push’ a particular product because they have an excess of inventory or because it will soon be discontinued. Too many sales people focus on the short-term sale without considering the long-term impact of their actions and this short-sightedness costs them market share. Don’t nickel and dime your customers, it will only cost you money.

Read the first two chapters of my retail sales book at...


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