Tickets – Page 5 – BaylorS3E

How can leagues and teams build excitement? Step outside your box! Literally.

kirk_wakefield 2013, Lead, Sell, Tickets September 2, 2013November 2, 2018Anaheim Ducks, creativity, Dodgers, Gary Bettman, hockey, innovation, Los Angeles Kings, Luc Robitaille, NHL 0 Comment

by Kelly Cheeseman – September 2013

When the NHL announced in May that they will be expanding their highly successful outdoor game concept showcased by their New Year’s day Winter Classic, many critics asked how much is too much? I’d like to think of it as stepping outside the box, since so much of what we do is focused on what goes on inside a big box we call our arena.

With the announcement of the Stadium Series presented by Coors Light, the NHL will be adding 5 additional games to the lineup. Gary Bettman was noted as saying,

“The reason we’re doing more outdoor games is really what it’s now doing locally,” Bettman said. “This is an incomparable event and what happens is fans get connected to the game in ways they never imagined, we get new fans who, for the first time, will come and be a part of this. This is a fan-oriented, fan-driven event, and that’s why we’re doing so many games so we can bring it to more fans.” (Thursday, 08.08.2013 / 4:55 PM / The Canadian Press)

Outdoor Hockey in LA

If you were in LA looking for an outdoor venue for hockey, where would you look? What about Dodger Stadium?

Opened April 10, 1962; the third-oldest continually used park in Major League Baseball.
Hosted more than 147 million fans since it opened
Hosted eight World Series and close to 4,000 regular-season games.
Zero hockey games.

With a remarkable view of Chavez Ravine overlooking downtown Los Angeles and the San Gabriel mountains, Dodger Stadium has been called one of the treasured cathedrals of baseball with one of the most unique and picturesque settings in sports. Of course, critics ask how a hockey game is possible in a “warm weather city”? Doesn’t it need to be freezing cold?

The Kings actually have some history with outdoor hockey events. The NHL’s first outdoor game was an exhibition in the parking lot of Caesars Palace in Las Vegas on Sept. 27, 1991. That game took place in 85-degree weather. But, further evidence as to the possibility of this game is simple science. The average high in January in Los Angeles is 68 and the average nighttime low is 48 degrees. Translation? If we play the averages, we are slated to have one of the best settings for a hockey game imaginable. In fact, with a little luck, we’ll have temperatures more pleasurable than a full NHL venue on a game night.

With all of this in mind, when the Los Angeles Kings and Anaheim Ducks were asked to participate in an outdoor game in our market in one of the most iconic and historical venues in the history of our country, Gary Bettman’s words “incomparable”, “innovative”, “fan driven” all came to mind.

Since the arrival of the Kings in Los Angeles in 1967 many stepping stones have been passed to spur the growth of the game on the West Coast:

The Gretzky trade in 1988,
The arrival of the San Jose Sharks in 1991,
The Kings 1993 Stanley Cup Finals participation,
The arrival of the Anaheim Ducks (also 1993), and
The marquee moments of Stanley Cup Championships for the Ducks in 2006 and Kings in 2012.

All have lead us to this moment where the Kings and Ducks can showcase the game on one of the most unique stages during the Grammy Awards’ weekend in Los Angeles.

Measures of success

As we plan ahead for this moment in January we often ask ourselves what will be the measuring stick of success for this game? Will it be a sold out venue? Big NBC national ratings?

[dropshadowbox align=”right” effect=”lifted-both” width=”250px” height=”” background_color=”#ffffff” border_width=”1″ border_color=”#dddddd” ]

“This is a credit to our fans and the amazing support they have shown to us and the NHL these past few years. This will be a sporting event like no other that has ever been seen in Southern California and we are proud to be a part of it.” [/dropshadowbox]With this platform these two outcomes are almost certainties. A sell out and a big national rating are almost a given. Broadcast partners indicate an excitement for this game and ticket sales trends are ahead of all historical trends of other outdoor games.

But for us, the growth of the game on the west coast is the most important measuring stick. Big local ratings, attention to the Ducks and Kings Freeway Faceoff rivalry, and the ability for as many hockey and sports fans in Los Angeles to be touched by this game will create the sustainable impact we are looking for short and long term. Plans are still in the works to capitalize on this moment, but these are the objectives we are focused on. We welcome any constructive comments or creative ideas below!

In a game slated to be one of the most historical hockey events ever, the NHL has a chance to garner the attention of the local and national media like never before. As, the host and participating home club, we have a platform to grow the game in a way never available to a market like Southern California.

Cover photo courtesy of Marian Stanton.

GenX and GenY: Tips for working with each other on the same team

kirk_wakefield 2013, Lead, Sales Management, Sell, Tickets September 2, 2013November 2, 2018Aspire, behavior, differences, Gen X, gen-y, generations, millennials, perceptions, similarities 0 Comment

by Brian Erenrich – September 2013

Co-authored with David Quill.

At times it feels as if Generation X and Y have declared “war” on one another. Yet, instead of looking at the negatives (highlighted below), we need to focus on the positives and how we can collaborate.

So let’s look at the good, the bad, the ugly. But let’s also examine the opportunity for great teams to achieve great results with in the sport business industry.

Gen x vs. Gen Y

Generation X (born 1965-1981)

Enjoy projects with deadlines and little supervision (freedom)
Resilient
Critical thinking
Career first then work-life balance and money
Sales presentation: one speech with no feedback

Generation Y (born 1982-2000)

Narcissistic, entitled
Enjoy working on projects that involve multi-tasking and technology (engagement)
Education vs. experience
Impact now
Money and work-life balance then career
Sales presentation: work the room (many small conversations telling a story)

Similar values

Intrinsic: interesting work, learning opportunities, being challenged
Extrinsic: pay, promotions, status
Altruistic: helping others, contributing to society
Leisure: vacation time, work life balance
Social: interacting with others, making friends

Advice for Gen X dealing with Gen Y (Gen Y Perspective):

Be patient! We want all the answers now but we don’t need them. Challenge us by asking questions to our questions.
Mentor us! We need to be guided. We think we have the answers but we really do not. Learning from you, will helps us in the long run.
Teach us how to perform tasks independently.

Advice for Gen Y (Gen Y Perspective):

Slow down, take notice of your surroundings instead of your 3 screens (cell phone, computer, TV)
Spend more time getting to know others face to face opposed to text and email
Concentrate on the journey not the end result or money
Be patient with others and yourself, in business there is little instant gratification, not everybody moves at your speed

When it comes to the values of both generations there are many similarities. To succeed in sport business we need to work together and adapt.

With both generations bringing so much value from the old business world and new business world it only makes sense that collaboration is a must.

Learning from each other will not only enhance the work place but the sport business as a whole.

How to create a successful university season ticket holder retention program

kirk_wakefield 2013, CRM, Luxury Suites & Premium Tickets, Relate, Sell, Tickets September 2, 2013November 2, 2018decreased complaints, improved process, increasing referrals, Personalize, program, renewals, retention, touchpoints 0 Comment

by Bryce Killingsworth – September 2013

Connecting Fans

What is customer service?

Customer service is taking an ordinary situation and making it extraordinary. At Oklahoma State University, we implemented a newly developed retention program to build long-term relationships while providing supreme customer service.

The retention program includes four representatives focused on (1) connecting with the fans, (2) moving fans through the buying funnel, and (3) cultivating fans for life. We believe our best marketing plan includes a superb customer service plan.

[dropshadowbox align=”right” effect=”lifted-both” width=”250px” height=”” background_color=”#ffffff” border_width=”1″ border_color=”#dddddd” ]

“As a three time graduate of Oklahoma State University, and as an academic leader and consultant in the area of sport marketing – particularly as it relates to sales and retention, I am excited to see OSU Athletics realizing the importance of retention activities. OSU has decided to keep its sales and retention activities in house and is taking responsibility for the revenue generation necessitated by that approach. Having dedicated retention specialists, much like the majority of pro sport franchises, shows the Cowboys’ commitment to their customers and shows a deep understanding and strategic approach to not only customer satisfaction – but customer happiness.” [/dropshadowbox]

How we do it

The stadium sections are divided among the four reps. Each rep takes full responsibility for providing customer service for the assigned fan base and increasing renewal rate percentages. By assigning specific sections we can target more personal messages toward customers. We provide a personal touch by:

Personally calling or e-mailing every season ticket holder as the first touch point.
As relationships build, we make arrangements to meet season ticket holders at their tailgates on game day and bring them a small gift (poster, lapel pin, etc.) as a gesture of appreciation.
This season we are leaving a personal thank you card on the seat of season ticket holders to display appreciation. Reps will provide their business card inside the note to personalize the relationship.
We invite football season ticket holders over for a basketball game with complimentary tickets. When they come in to retrieve the tickets we offer refreshments, adding another touch point.

Anytime we have an opportunity to meet a fan in person is an advantage for us, as we provide that personal connection and increase the level of the relationship between the fan and Oklahoma State University.

Seizing first impression opportunities

Last season, I helped a dad buy single game tickets to take his son to his first ever football game on his birthday. I took notes of their names and seat locations and just before kickoff I went up to their seats to introduce myself and wish the boy a Happy Birthday. I also gave him a gift bag that included an OSU poster. Both the father and son were overjoyed. Seizing first impression opportunities produces a significant impact on the buyer’s connection to the program.

Results

[dropshadowbox align=”right” effect=”lifted-both” width=”250px” height=”” background_color=”#ffffff” border_width=”1″ border_color=”#dddddd” ]“To me, the best part of the program is that it falls perfectly in line with our long term approach to relationship building. We want our fans to feel connected to our program and our university. This is just another aspect of how we do this.” Adam J. Haukap [/dropshadowbox]The most notable benefits from the program?

Decreased complaints. That means not only happier fans but also saved time by administration not putting out fires. The complaints are virtually non-existent at this point.
Improved process for dealing with issues. Problems still come up. But with the retention program each one is addressed in a timely manner with full communication throughout the process with the fan. The issues are managed at the lower level and rarely need reach the AD. This creates a great working environment for everyone. Fans are able to speak with a rep instead of feeling like they are battling an organization.
Increased interaction. One indication our program is being productive is our direct lines ring more than our general office line. Customers directly reach out to their reps rather than dialing the 1-800 line.
Increased referrals. Customers voluntarily give out referrals of friends, family, and co-workers on a regular basis to help extend the Oklahoma State family. This translates into less reliance on finding new leads each off-season to reach department goals.

We now have better quality data when making decisions and developing strategies in our retention program as we continue to increase our renewal rate percentages. OSU just broke their personal record of public season ticket sales for the fifth time in six years, in large part to increased motivation of our reps in providing great customer service in-season and out-of-season to the OSU fan base.

Market (Sell) Like a Rock Star!

kirk_wakefield 2013, Experiences, Lead, Luxury Suites & Premium Tickets, Marketing, Relate, Sell, Sponsorships, Tickets August 1, 2013November 2, 2018crazy, Grateful Dead, lead, Madonna, marketing, personality, rock star, Sales, Steve Jobs 0 Comment

by Lynn Wittenburg – August 2013

I got this headline “Market Like a Rock Star” in an email after I read the book Radical Marketing. They were trying to sell me a book about the Grateful Dead. No sale, but it caught my attention.

What if I really did market like a rock star? What would that look like? Here are four ways I’ve come up with so far. Feel free to tweet more to the list (@lynnwitt) or comment below.

1. Rock stars have larger than life personalities.

Most rock stars (think Ozzy & cats, Bon Jovi & hair, Madonna & sex) have VERY large personalities. Some trait or characteristic they exploit to the fullest becomes their trademark.

We can do that in sales & marketing. Figure out the one thing you can hang your hat on and roll it out big time. Go with the largest “personality” your company has. For you personally, what one thing do you want customers and colleagues to know you by? Don’t hope they catch it. Make it central to who you are and what you communicate.

2. Rock stars are considered crazy.

You hear about it all the time. Rock stars are nuts. Troubled. Deemed crazy. And in this case, usually they are.

But in marketing, we can be crazy in a good way. We can dare to do things that people deem unconventional. I watched an old video of Steve Jobs. The commercial at the end of the video is what sticks with me. Look at people like Jobs that the world called “crazy” and look at what they accomplished because they didn’t listen to the World.

3. Rock stars love what they do.

In Radical Marketing, the Grateful Dead talk about their passion for their music. They grew bigger than life but it was always about making music.

Do you love what you do in sales & marketing? Because if you don’t love it, how can you expect your customers to love it. Passion is contagious.

4. Rock stars dress the part.

When it comes to attire, rock stars GO BIG or GO HOME! When you are a rock star your “outfit” is as much of your personality as you are.

I attended an Aerosmith concert and Led Zeppelin opened for them. Those dudes STILL have the outfits, the beards and the long hair long long after they hit 60 years old.

When it comes to marketing your product, what is the packaging? How are you presenting it? Are you putting your best foot forward and giving your audience something to remember you by?

What about you?

Well, that’s it. I don’t want to be a ROCK STAR but I’d like to market like one. If you’re going to be a rock star in sales & marketing, what other tips do you suggest? Click the tweet button below and let me know (@lynnwitt)!

Photo cover thanks to KennySun. Led Zeppelin picture thanks to Jonathan Bayer.

Three Steps to Creating an Effective Entry-Level Sales Contest

kirk_wakefield 2013, Lead, Sales Management, Tickets August 1, 2013November 2, 2018contests, incentives, metrics, recognition, revenue, Sales, salespeople, steps, theme, time frame 1 Comment

by Brian Norman – August 2013

“If you don’t know where you’re going, any road will take you there.”

Think about a sales contest you have conducted (or participated in) that was missing something. Perhaps it did not have a specific purpose, was unorganized, anticlimactic, or even ineffective? Rather than using a generic model, create a personalized strategy that will help your team accomplish its goals.

Step 1: Set Specific Objectives

The first step in designing an effective sales contest is to determine the ultimate objective. Goals for entry-level sales staffs can vary; therefore it’s imperative to set specific objectives for your sales contest. Write down, in detail, what you hope to accomplish and how you will measure your success.

Questions that need to be answered include:

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“An effective sales contest, done the right way, can produce big results for your team.

The preparation leading up to it, the execution throughout and the post contest assessment are all vital in maximizing the results from your contest. In order to get the desired outcome when building the sales contest, it’s important that it’s designed to help accomplish a specific agenda, create a fun and competitive environment, engage your employees and drive big revenue.” [/dropshadowbox]Are you basing the contest solely on revenue production?

Are you trying to increase departmental revenue by 10%, 25%, 50%?
Is there a specific team revenue goal you’d like to reach?
Historically, what was produced during this period of the sales cycle?

Are you focused strictly on moving inventory – regardless of revenue?

Is there specific inventory you’re focused on selling (club seats, VIP seating, etc.)?

Are you also focusing on increased call volume, on-site appointments, or other “hustle” metrics?

If so, do all of these metrics directly contribute to your ultimate goal?
Are these metrics readily accessible throughout the day to encourage/drive individuals?

Step 2: Design the Program

Establish each of these for every sales contest.

Team, Individual, or Both?

Recognize when it’s most effective to use a team-based contest versus an individual-based contest.

A team contest will help drive departmental unity. In theory, every member of your team will work together to accomplish the goal to receive some type of incentive. In reality, be aware of free-loaders who don’t contribute and seek the same incentive as the rest of their team. To address this, set personal “minimum qualifiers” to motivate everyone on the team to participate.

Is your sales group full of competitive, result-driven employees? If so, an individual-based contest may be the best route for your team. Create and facilitate a program that will bring out the competitive nature of your sales team as they compete against one another.

Sales contests can also tie in both team and individual aspects that will build team unity while rewarding top performers. Focus on dynamics that will motivate the team as a whole, while also pushing individual performance within the contest. An overall team incentive can be supplemented by smaller prizes throughout the contest to key performers.

Theme

In order to keep your team engaged throughout your sales contest, it’s crucial to design your sales contest around an exciting and entertaining theme. Whether you use current events (Olympic Games, March Madness, Draft Lottery), movies (Fight Club) or board games (Monopoly, Scrabble) to model the contest, it should be creative, fun, and most of all, engaging!

Time frame

The length of the sales contest is one of the most important pieces of the design. If your contest is too short, it may not give your sales team the proper time to accomplish the set objectives. If your contest is too long, your objective will lack urgency and it can grow stale. Refer to previous sales/hustle metrics to determine the appropriate timeframe to accomplish your objectives.

Incentives

What will truly motivate your team to increase their performance? Simply ask them! By [dropshadowbox align=”right” effect=”lifted-both” width=”250px” height=”” background_color=”#ffffff” border_width=”1″ border_color=”#dddddd” ]

Eric Platte

“After running plenty of sales contests that produced different results, the underlying factor that motivates everyone is free and simple: recognition.

For example, the 2013 Final Four was in Atlanta so we capitalized with a sales contest. The winning member received two tickets to the tournament, assorted gift cards, in addition to a trophy and picture that we sent to the NBA league office and our executive team. After the hundreds of dollars we spent on the prizes, the winner was most proud of the email we sent to the league and the executive team with his picture!” [/dropshadowbox]asking your sales team what incentives they desire most, you’re accomplishing two things:

First, and most obvious, you’re able to put together a list of incentives they desire. Send out an email asking your team to present you with three items (under your set budget) that they would love to have. Whether its cash, gift cards, concert tickets, autographed memorabilia, or other prizes, you’re sure to get authentic feedback. (Best answer to date: C.R.E.A.M: Cash rules everything around me!)

Secondly, and just as important, you’re empowering your employees with the task of helping design their very own sales contest. This leads to increased buy-in and appreciation from your team. Further, you are presented with ideas you never would have thought of yourself.

Step 3: Review, Recap, Revise

What could have been done better?

Was the contest too long? Too short?
Was your sales team engaged? What could you have added to make it more engaging?
Did the original rules work throughout, or did you have to adjust them at some point? Why?
Did the incentives actually motivate your sales team, or were they simply a nice reward?
How close did you come to accomplishing your goals? Were the goals too easy? Too hard?

Analyzing Metrics

Simply put, did the contest accomplish your set objectives? Compare your team’s performance during the contest against previous data to measure the true impact. Record your results as they compare to historical metrics and save for future referral.

Finally, measure your team’s output over the weeks and months following your contest to gain additional insight into the contest’s level of effectiveness.

How much revenue was produced compared to last month?
How much revenue was produced compared to the same time in the selling cycle last year?
What percentage of sales was from the targeted inventory?
How does outbound call volume compare to the average call volume for the last week? Month?

How’s your sense of sell? Defining your personal brand

kirk_wakefield 2013, Sell, Sponsorships, Tickets July 1, 2013November 2, 2018bow tie, brand awareness, brand identity, brand loyalty, branding, Houston Texans, New York Giants, personal brand, signature 0 Comment

by Brian George – July 2013

Much of your personal brand is on display via social media, as Ken Troupe shared with us in Establishing Your Personal Brand and What does your Twitter and LinkedIn say about your personal brand.

John Maguire

Within the context of premium and corporate sales, let’s explore more what it means to establish and grow your “Personal Brand.” A large portion of what I’ve learned and applied through the years came through a workshop facilitated by John Maguire, Sr. Vice President of Corporate Partnership with the New York Giants.

What Makes You Unique?

At any given time in a market there are perhaps as many as 1,000 professionals selling marketing and/or advertising to your competition.

What are you doing differently than your competition to make “You” stick out from the competition?

My “personal brand” started innocently enough at a store with my wife four years ago. I happened to pick up a bow tie and asked her opinion. Her disapproving look was enough motivation for me to purchase said bow tie and wear it the next day to work. I happened to have a meeting with one of the most notorious “bully clients” in the city of Houston. When I walked in, he said, “I like the bow tie, it makes you different.”

From that moment forward the bow tie was a signature of my “personal brand.” So I ask you:

What is your signature?
When people mention your name in conversation what association is made?
When you walk into a meeting, what is your go-to opening that breaks down the wall of conversation?

Whatever you choose to be the signature of your “personal brand,” ensure that your promise, pricing and results are in line. It does you no good to have a signature only to have someone think of it in a negative light. Just like you protect the intellectual property of the company you work for, you need to have a constant understanding of how the actions you take with everyone around you affect your signature; that is, what you leave with them.

3 Brand Relationships

There are three types of brand relationships:

Brand Awareness: I know you exist.
Brand Identity: I know who you are.
Brand Loyalty: I like who you are.

One of the key takeaways of the workshop was: “Industry leaders make the effort to convert brand awareness and identity relationships into brand loyal ones by offering new and improved features of their brands.”

Assuming you want to be the best at what you do: Take a look at individuals who are probably loyal to another personal brand or know who you are–but aren’t buying. Come up with a tangible action plan to convert them to be brand loyal to your brand.

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Your personal brand

The question is, “Who’s buying?” [/dropshadowbox]

Understanding that the world of selling premium products and sponsorships has evolved so much in the past decade, relationships are still the most important part of what we do.

My relationship with others is based upon their personal brand perceptions. The question is, “Who’s buying?” For personal and professional reasons, I need to be conscious at all times to represent my own personal brand as best as possible.

What does it really mean to delight premium customers?

kirk_wakefield 2013, Digital Strategy, Relate, Sell, Tickets July 1, 2013November 2, 2018boxes, customers, delight, fans, luxury, premium sales, satisfaction, selling, suites, VIP 0 Comment

by Kirk Wakefield – July 2013

Sports franchises may draw some of the less-discerning masses with dollar hot dog night and all-you-can-ingest seating sections, but luxury seats and suite buyers expect intimate personalization.

You can’t get intimate with an advertised special or promotion night. As with any other relationship in life, intimacy doesn’t lend itself to just anyone who makes an offer. As customers, we are only willing to commit ourselves to those who take the time to get to know us, understand what we like or prefer, and are interested in our past. Then, maybe, we can talk about having a future together.

What does it mean to delight customers?

Consumer psychologists have studied the concept of consumer delight–the consequence of surprise mixed with joy–for over two decades. Not all surprises are good, of course. Surprise mixed with anger results in outrage. Good to avoid those types of surprises.

More aggressive, proactive properties now go beyond trying to satisfy customers to interact on a very personalized basis. Why?

Selling suites and luxury seats caters to an expert clientele dissatisfied with what everyone else gets.

Fans with limited resources and experiences (novices in terms of sport & entertainment consumption) may be excited just to see a game from the upper deck. But expectations are much higher in premium sales situations and it takes much more to truly delight expert consumers.

Start with knowing your customer

Steve Massi, Director of Marketing and Client Strategy at International Micro Systems, explains, “Customer delight is driven by one primary insight: Know Your Customer. At IMS, we transform our customers’ businesses through unique utilization of real-time customer-centric data, resulting in more relevant customer engagement, customer experiences and organization-wide ROI.”

How can this kind of technology lead to delighting customers? The STADIS© Data Integration, Promotions and Engagement Platform empowers properties to use customer data two primary ways:

First, to drive real-time behavioral engagement and incremental revenue at the transactional “moment of truth,” and
Second, by making this customer-centric data accessible and actionable to develop more relevant offers, communication, and customer experiences.

Mass/group focus vs. Individual focus

Pre-planned, scripted elements of the event experience are aimed at masses or groups. No surprise there. And no delight.

Venues with commercial messages seen on TV surprise no one. Bored or annoyed would be more like it.

Groups brought on the court for special occasions are expected. The only possible delight is when the little kid in the dance squad performs in some unexpected way. Of course, those in the group benefit from belonging, connecting, and recognition (see Fan Intimacy matrix). Semi-scripted portions are more enjoyable.

We only begin to make real progress when we begin to reward and acknowledge individuals with meaningful, relevant methods illustrating our understanding of the customer as an individual.

Personalization

Brandon Steffek, Director of Sales at Full House, helps properties delight customers by incorporating variable information into the designs and content of email and direct mail collateral. Through analyzing market and customer data, Full House can use variable information such as surnames, demographics, company names, industry specific images and content to appeal directly to the behaviors most applicable to customers. Brandon emphasizes, “This approach creates a more personalized and meaningful touch to our email and direct mail efforts both internally and for our customers.”

The Oakland Raiders, for instance, can personalize emails and mailings to individuals who’ve leased a suite in the past or are identified as potential suite customers.

First thing to do

The first thing you must do to delight premium customers is simply to understand that’s the goal. If you think it’s just to sell them space in a seat or suite, provide an entertaining experience, and good service, they can get that at a lot of places. If you continue to do only what expected, you’ll keep getting what you’ve been getting.

The second thing you must do is take advantage of the technologies available to us today to market, sell, and service on an individual personalized basis. We’d love to hear your ideas and examples of ways you’ve found to truly delight premium buyers in your markets. Leave a comment or tweet to us @BaylorS3 and @KirkWakefield.

Download our Sales and Technology Presentation from the 2013 ALSD Conference.

How to build trust in relationship selling

kirk_wakefield 2013, Integrity, Lead, Sales Management, Sell, Tickets July 1, 2013November 2, 2018behavior, business performance, Covey, premium sales, retention, sales performance, Trust, upscale, VIP 0 Comment

by Dan Rockwell – July 2013

All successful relationships require trust

Good salespeople build relationships because organizational success depends on it. If trust is something “they” do, you are the problem.

Research shows three important consequences related to trust and performance.

Overall business performance for organizations is higher when salespeople trust their managers.¹
Individual sales performance is better among salespeople who engender high trust.²
Employee retention is higher in organizations with high manager-employee trust because the quality of life in the workplace is better.³

How do sales managers and salespeople build strong, resilient relationships?

You learn to behave

Stephen M.R. Covey, says, “Relationship trust is all about behavior … consistent behavior.” (From: “The Speed of Trust.” Today, seven years after publishing, it’s still #2 in Business-Life, Ethics, on Amazon.)

Covey explains 13 behaviors common to high-trust individuals:

Talk straight. Let people know where you stand. Use simple language.
Demonstrate respect. Genuinely care and show it.
Create transparency. Tell the truth in a way that can be verified. Err on the side of disclosure.
Right Wrongs. Apologize quickly. Make restitution where possible.
Show loyalty. Give credit freely. Speak about people as if they were present.
Deliver results. Don’t overpromise and underdeliver. Don’t make excuses.
Get better. Thank feedback and act on it.
Confront reality. Take issues head on, even the “undiscussibles.”
Clarify expectations. Disclose, reveal, discuss, validate, renegotiate if needed, don’t violate, expectations.
Practice accountability. Take responsibility for results. Be clear on how you’ll communicate.
Listen first. Don’t assume you know what matters most to others.
Keep commitments. Make commitments carefully. Don’t break confidences.
Extend trust. Extend trust abundantly to those who have earned it. Extend trust conditionally to those who are earning it.

Do you want to move up?

Axel Köster, General Manager for the Manhattan Group, recruits executives and managers for premium properties such as the Peninsula, Regent, Hilton and others around the world.

“No matter what the industry,” Axel shares “at the top level of any successful organization you must have someone you can truly trust. If you want to move up in your organization, the most important thing you can do is build a reputation for trustworthiness.”

The bottom line is success in relationships and relationship selling depends on your trustworthiness. And so does the trajectory of your career.

Getting started

How do we improve trust? By being intentional about it. Make a copy of Covey’s 13 behaviors. Put it in front of you at work. Find a peer who wants to do the same thing. Keep each other accountable. Practice being happy.

Bill Yates, Senior Associate & Partner at the Sports Advisory Group, adds, “Provide solutions to their problems and you’ll be rewarded with trust.”

Continue building trust with colleagues and clients and whether you move up the career ladder or not, at least you’ll be one of the happy ones.

Sources

“Making things happen through challenging goals: Leader proactivity, trust, and business-unit performance,” Crosley, Cooper & Wernsing (2013), Journal of Applied Psychology.
“The interrelationships of empathy, trust, and conflict and their impact on sales performance,” Plank & Reid (2010), Journal of Marketing Management.
“Trust your teammates or bosses? Differential effects of trust on transactive memory, job satisfaction, and performance.” Gockel, Robertson & Brauner (2013), Employee Relations.

Show me the money? The truth behind effective sales commission plans

kirk_wakefield 2013, Integrity, Lead, Sales Management, Sell, Sponsorships, Tickets July 1, 2013November 2, 2018changes, compensation, consistency, equity, George Killebrew, Mavericks, motivation, NBA, planning, sales commissions, strategy 0 Comment

by Jeff Tanner – July 2013

Are salespeople motivated just by the $ sign?

Perhaps the greatest myth in sales is that salespeople are only in it for the money, especially when it comes to sponsorships and premium sales in sports.

Our research regarding salesperson motivation showed money as the primary motivator for no more than 15% of all salespeople. What about the rest?

Since money should follow performance, the majority are motivated more by:

Independence, Challenge, and Genuinely serving customers

So, that’s what motivates salespeople. What’s the number one way de-motivate salespeople?

Let’s talk about the role of incentives and commissions and then we’ll get to how to lose your best salespeople.

The Value of Incentives & Commissions

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A commission plan must be consistent year to year and fairly simple to understand. We have made only minor adjustments over the last 12 years.

Salespeople do their best when consistency exists and they aren’t thrown a bunch of curve balls.

Money is not the only motivating factor. In fact I think it isn’t even the most important. The ability to have a sense of autonomy, to feel like you are an important team member, to feel like you work for a company that values you, are all important factors to sales success.

~ George Killebrew, SVP Business Operations, Dallas Mavericks

[/dropshadowbox]What compensation structure works best to direct salespeople’s activity?

Short term sales incentives are effective motivation when sales tasks are (a) repetitive and (b) don’t require a great deal of creativity. The intrinsic nature of the job just isn’t enough; it takes creative incentives, including well-designed contests to focus salespeople on the right activities. Dangle a carrot in front of a ticket rep and get out of the way.

Incentives don’t work as well for sales positions like sponsorships that require a lot of (a) creativity, (b) customer care, and have (c) long-term sales cycles.

How to demotivate your sales force

Commissions are excellent motivation to sell and service key accounts in sponsorships or premium ticket sales. You know you’ve succeeded at demotivating your sales force if any one of them begins saying things like, “They cut my commission!” “They keep changing the plan.” Or the worst one, “They owe me…”

In spite of the motivating power of incentives and commissions, organizations can also find ways to break the trust with their salespeople:

Delaying an announcement of compensation plan details: salespeople don’t know what to sell,
Lowering commission rates in the middle of the selling season in order to boost profits by lowering pay, and
Delay payment while quibbling over minor points in the plan.

Yes, you can just get more salespeople to replace the ones who leave. But when you finally get some good ones back on the team, how many sales were lost?

Solutions

Spend the time to run the compensation plan through tests before launching it. What’s the worst case scenario? The best case?

Think like a rep and figure out what the best sales strategy is to maximize compensation. Can you live with that result?

And plan for a surprise – like adding a bonus mid-selling season. While nothing demotivates like cutting commission after the fact, nothing has more motivating power than a seemingly-random occasional extra reward.

As Greg Grissom, Vice President of Corporate Development at the Houston Texans, concludes, ”The right compensation plan is a key tool in sales leaders tool kit to ensure you clearly communicate where success lies both individually and as a team. By incenting the behaviors and outcomes, salespeople clearly understand where they need to spend their time and effort.”

3 basic questions you should ask premium seat buyers

kirk_wakefield 2013, Lead, Learn, Research, Sales Management, Sales Training, Sell, Tickets July 1, 2013November 2, 2018buying, leasing, NFL, premium sales, preparation, renting, research, selling efficiency, Success, suites, VIP 0 Comment

by Kirk Wakefield – July 2013

Preparation is the key to selling efficiency

Preparation is on anyone’s top 10 list of what makes successful salespeople. Successful preparation is based on asking the customer the right questions.

Knowing the right questions is one thing. But knowing the right answers can lead to more sales and more efficient selling (i.e., close ratios).

A little research

One of our NFL client partners wanted to help their sales staff get a head start in understanding individual suite rental customers in preparation for the upcoming season. In the two weeks after the season ended we collected responses from a sample of 20% of individual decision makers from the previous season’s rental customers. Among other things, we wanted to know the answers to three basic questions and the relationship between these answers and how likely customers would be to buy again and refer others.

Three basic questions

Corporate buyers are likely to be passionate fans, but that’s not the reason they are buying. They are buying because they believe potential clients are passionate league or team fans. So, sure, it helps if they love the team. But in an NFL city, odds are most everyone locally or regionally has at least some affinity for the team. This leads to the first basic question you need answered.

Where does your business come from?

The results show the vast majority use the suite to build relationships with local (71%) and regional (84%) customers. However, those indicating they also have extensive global (37%) and national (68%) markets are significantly more likely to recommend renting suites to others, representing your best promoters and referral sources.

If the premium buyer’s customers are primarily local and regional, promoting the team angle may be useful. But if their customers are more national or global, then we really need to ask what else influences the choice to rent a suite.

What influences which game you’d like to select?

Too many salespeople assume price is the main issue. Don’t start there.

From our sample, almost 1/3 aren’t really concerned about the price. More importantly, concern about the suite rental price had no bearing on whether or not they’d be likely to rent again next season. Statistically speaking, what did?

The most likely return suite rental customers were those who wanted to (1) know who the opposing team was, (2) review the entire schedule when it was released, and/or (3) who were planning a special occasion.

Why are those good answers for you? Because it means they’ve already decided in favor of buying, the question is which game? Greater concern for knowing (a) the kick-off time, (b) day of the game, or (c) the price had no influence one way or the other on likelihood of using a suite the next season.

The upshot is that if you focus efforts on prospects in a true-decision making mode (team, schedule, occasion), your close ratio should be higher.

Compared to other options, how would leasing a suite from us help you win business?

We aren’t the only game in town. Our clients can entertain in other sports & entertainment venues. The heart of this question is what is it about leasing from us that helps meet your objectives?

What we see from our study is it’s not what you think. Most don’t think leasing a suite guarantees closing a business deal.

The big insight is that a suite offers the best chance the invitation will be accepted and won’t fall through. What your clients really want is just to make sure they have a chance to close a deal.

What’s the worst fear when we throw a party? The people we wanted to come don’t show up. It’s been the same since high school; now we’re just playing for different stakes.

A second big insight is predicting who will be our best promoters and source of referrals. The ability to predict a client’s NPS (Net Promoter Score) is highest among those who strongly believe the suite provides the best return on objective (i.e., the chance to sell) and is the best choice for doing so in the market (viz., “differentiator in the customer entertainment universe”).

Conclusion: Act

Premium sales isn’t as simple as asking these three basic questions, but it sure helps. The key is in preparation. Teams like those who commissioned this research know that knowledge is power. Now let’s go get some.