Oct
8
Does “Yes” Mean “No” to Profits?
Filed Under Corporate Selling, Customers
Has this happened to you - during a presentation, a corporate client asks if you can swap out biscotti in the sample gift basket for a high-end box of chocolates. You say “yes” to get the order.
Later, in your office, you calculate the price for the chocolates (8.00 versus the 1.25 biscotti) and learn that the swap will leave you with a very slim profit.
How can you make the client happy while ensuring substantial revenue each time orders are placed? Here are three solutions.
1. Say “let me check on that” when you’re unclear about the cost. Tell the client that you want to make sure they’re not being overcharged for the design change. In reality, you want to gauge your own profitability.
Call the client as soon as possible to follow up and close the deal. This check-before-you-say-yes scenario will not jeopardize the sale. Remember what happened in the above example.
2. Bring your own list of 3-5 items that can be exchanged for several products in the sample basket(s). Offer any of these items if asked for substitutes, and stick with these options unless you must resort to No. 1 above.
3. Make certain designs “as is” with no substitutions. If they aren’t acceptable for clients, offer your custom designs. This is a great option, as it can substantially elevate profits.
Problems are blessings in disguise because you must face this scenario and similar ones to grow. When mistakes occur, you can make changes and move forward confidently and profitably.
You’ll find high revenue lessons at GiftBasketCourse.com and more corporate tips on the Success Articles page and Success Tips page.
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4 Responses to “Does “Yes” Mean “No” to Profits?”
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I have a lot of orders for the holidays, and good help sometimes is hard to find. I want to make sure I get people I can trust to mail the gift baskets and help me put them together, I have had problems in the past getting good people. do you have any suggestions.
Shirley, your suggestion to say “let me check on that” is a good one for most any business situations. I find that it’s important to “pause” when making most business decisions in order to evaluate how it impacts the “bottom line”.
Denise,
You’ll find more-reliable talent through your own networks, people you know who can connect you with people they know and trust.
There’s only six degrees of separation between you and short-term helpers.
Lorie,
Your words are so true.
We can sometimes be too hasty when securing orders. Part of order taking is pausing, as you say, to ensure profitability.