ADvantage Solutions
Newsletter

July 1998

ADvantage Solutions Newsletter

July Contents:

ADvantage Thinking: Moments of Truth: Being EXTRAordinary

Power Tools: Phone Cards

Resources for the ADvantage and Shameless Plugs

Trend Watch: Protecting Our Intellectual Property

 

ADvantage Thinking: Moments of Truth: Being EXTRAordinary

The only sustainable competitive advantage comes from out-innovating the competition. James Morse

Did you watch the Belmont Stakes last month? Millions of dollars were won "by a nose"! In business as in horse racing this same dynamic holds. Our loyalty to a business is often because of an extra or a little detail. Recently, I called my long distance carrier, NextLink, because I had problems using my phone card and was irritated with that the customer service rep asked if I was using it at a pay phone or hotel. When I called my sales rep, Jim, he patiently listened to my complaint and then asked if I had activated the card as instructed in the welcome letter. I told him I hadn’t read the welcome letter (obviously, my mistake!). Instead of instructing me what to do, he said, "let me check this out for you. What is your mother’s maiden name?" Within minutes he called back to tell me everything was activated and I shouldn’t have any more problems. A little thing? Yes, but the impact of what Jim did left me feeling like a valued customer.

Have you had the experience of getting "more" than you expected lately? Competition in all business fields is intense and the leaders are creating ways to give us "knock your socks off" service. Exceeding customer expectations has a lasting effect on customer loyalty. And most of the time, it is just little things that are unexpected that make the most difference.

1. IT IS IN THE LITTLE THINGS You’ve heard that you should underpromise and overdeliver, but I find most of us are still promising as much as we think we can handle (and sometimes a little more) in order to get the business in the first place. Then we are stressed and pressured to live up to unreasonable expectations. And the worst part is that if we do not deliver on these items we’ve promised, the customer expectations were set up and we look bad. By leaving out some of the little things you will do for your client, you can surprise them and create a perception of going above and beyond. The perception is then that you not only delivered but went above and beyond

COACHES ACTION TIP> Promise less and then deliver more! The winning is just by a nose! Identify for yourself 5 points of contact you have with your client or potential clients. This could be your advertising piece, direct mail piece, your listing presentation, your closing gift. For each of these 5 areas, what can you do to give yourself an edge, go beyond customer expectations, amaze and astonish? Just by fine-tuning and giving a little extra, something unexpected?

2. CONNECT YOUR BUSINESS TO YOUR BRILLIANCE Are you still trying to be all things to all people? Think going deeper, not wider. The more generic we are, the harder it is to shine and stand out, yet many of us are scared of losing business if we focus too narrowly. Does Michael Jordan try to play soccer and ski and golf professionally? Of course not! He has mastered basketball! Focus on what you love and on what you do best. Design ways you can have more fun working with the clients that you serve best.

COACHES ACTION TIP> List your strengths and what you know you deliver best (perhaps asking people in your database or who know you well what they see would be useful). Now, write down the characteristics of your perfect client. Brainstorm a little: How do your strengths fit with their needs? What services would delight them that you aren’t offering but because of your strengths would be easy for you to add as an upgrade? For Instance, perhaps one of your strengths is attention to detail. Your perfect client includes investors. What reports or information could you add to your normal presentation that would WOW them? Or, if one of your interests is motorcycles, how can you develop an event that gives you an excuse to do something where you’d have fun and you could attract others with the same interest? The difference between ordinary and EXTRAordinary is the little extra!

3. PERFECTIONISM IS A CHARACTER DEFECT….but the pursuit of excellence is not. Stop procrastinating and get into action! Don’t sit there and wait until you can perfect you special ways of touching people, just try stuff and see what they respond to. Then do more of that!

COACHES ACTION TIP> Each week this month, choose one new way to upgrade the experience for your client of doing business with you. Implement into a system so it will now get delivered EVERY TIME! And then WOW them!

"Good but average is no longer good enough" TOM PETERS

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POWER TOOL OF THE MONTH: Your Personal Phone Card

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Legend Marketing offers a phone card/business card combination that is a real winner! You set up a full color, great looking, laminated business card that has 10 minutes of prepaid long distance.

This business card :

Is rechargable

people will keep THIS business card in their wallets!

Also available in 30 & 100 minute cards.

$46 per dozen (1st time setup charge of $25).

If you are interested, call for more information and a free sample card!

 

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Resources for the ADvantage & Shameless Plugs:

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This month’s RECOMMENDED BOOK:

Samurai Selling: The Ancient Art of Service in Sales
by Chuck Laughlin & Karen Sage
An easy read that will upgrade your selling skills!

 

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Real Estate Trend Watch - Protecting Our Intellectual Property

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The ownership of the "intellectual property" of our MLS information is the subject of hot debate these days. With Microsoft’s alliances and intention to offer real estate information, fear has overtaken many. Ways to restrict who gets what information is being discussed. But right now, 97% of our listings are available to the public. It is ludicrous to think we can go backwards and "protect" the information. The horse is not only out of the barn. It is dead! Dakota tribal wisdom says that as soon as the rider discovers he is riding a dead horse, he should dismount. In business today, however, we try other tactics with dead horses: like getting a stronger whip or researching ways to make dead horses run faster.

My point here is that protection of the information is not what will make a successful real estate business in the 21st Century. As a matter of fact, as the paradigm has changed, the person on the cutting edge realizes the more information they can provide the better their marketshare will be. Discovering new ways to deliver it or to package it for usability becomes more important than guarding zealously.

And the truth is our value in the transaction has never been just having the information (and those who thought that was what they had to provide did not last long) Our value has been our personal skill at building good business relationships which provide a high level of service and peace of mind for people when they are making some of the biggest financial decisions of their life.

So the real question comes back to what new way can you increase your value in the transaction! We’re in for some exciting times! Put on your seatbelt and enjoy the ride!

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Thanks for reading. If you enjoyed this, will you do me a favor? Take a minute and forward this to others who might benefit as well! Thanks!

Joeann Fossland is a personal & business coach. She knows the tools needed for highly motivated individuals and groups to bridge the gap to their next level of success! Call Joeann at 888-484-9608 or email Joeann@joeann.com to schedule a free 20 minute introductory coaching call or for more information on monthly group masterminding calls!