Content marketing can't close the sale

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It takes a person to do that.

I read an article last week that promoted the use of content marketing in automobile sales. It started by detailing the way the Internet has changed the relationship between salesperson and customer. Salespeople used to have exclusive access to product and industry knowledge.  With it came credibility. They were the experts. Now that consumers can use online resources to know just as much as the salesperson, the power balance in the relationship has shifted.

So, how does the salesperson re-gain control? The article suggested that the solution was for salespeople to use various content marketing techniques. A post on the Dealer Communications site makes the point that product information is ubiquitous online and that consumers are actually looking for perspectives to help them parse all the data. That in turn provides opportunities for salespeople to provide consumers with unique insights using blogs, videos and other online content.

As I was reading this, I kept thinking about a famous quote from the hugely successful insurance salesman Ben Feldman. “Sales is 98% people knowledge and 2% product knowledge.” I began my working life as a headhunter, which is the most challenging sales environment you can imagine. My experience then and throughout my career has proven the wisdom of Feldman's words.

It seems to me that content marketing addresses the product knowledge portion of the quote. But that’s only 2% of the sale. What about the other 98%? Sooner or later, the sale must be consummated in a personal meeting. What happens then?

The same Dealer Communications post makes the following assertion. “When customers consume your self-published content prior to sale they have a stronger connection with you.” Really?? This assumes that sales connections are built on the knowledge or perspectives of the salesperson as opposed to the salesperson’s knowledge of the customer.

In his Sales Lion blog, Marcus Sheridan talks about using content marketing to boost the sales of a company that installs inground pools. The company changed its sales approach from a traditional model to one where a request for a quote is met with an invitation to review the company’s vast online resources (blogs, videos, e-books). I found the next two steps in their sales process astounding:

Once a potential customer educates themselves through our content, they tell us the pool and options they want, at which point we send them via email an actual quote.

If the customer reviews the quote and agrees to its terms, we then go out to their home to confirm there are no hidden costs and write up the contract.

It would appear that we’ve gone one step further and virtually eliminated the salesperson. The first personal contact with the company is to confirm the details of the order. According to e-how.com the average cost of an inground pool is $20-30,000. I’m not sure about you, but there’s no way I would make a $20,000 buying decision without seeing someone. And even if I was prepared to do the preliminary work online, my interaction with the company rep would have huge impact on my decision. Content marketing may deliver the salesperson to my doorstep but it’s her sales ability that’s going to close the deal.

Even companies like Zappos that do all their business online have staked their success on the quality of the personal interaction with the customer. Tony Hsieh’s mantra of Delivering Happiness cannot be rendered by content alone and the training and selection of their customer service reps is now legendary.

In talking about great salespeople, Enterprise Rent-A-Car CEO Andy Taylor  says, “the people who are the most successful are the ones who listen most closely to the customer.” Continuing, he adds, “We follow the two ears, one mouth rule here.” Sales success is built on asking tons of questions and listening carefully to the answers. Moreover, sales is always a transfer of emotion. The only way to close a sale is to deliver what the customer has told you she wants in an way that makes her feel good about her decision. Content marketing can’t do that.

There’s no question that content marketing is valuable to the sales cycle. It can definitely generate leads and it can even help to qualify prospects. But capitalizing on that value and making the sale is going to take that 98% of people knowledge. The bottom line is that to improve sales results your human resources are still more important than online resources.

What do you think?

“No” is not the end of the conversation

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For salespeople, fundraisers and businesspeople, making sure that we learn something new from every interaction with a current or prospective buyer (or donor) can convert a “no” into future success.

This was brought to mind by a book that I am currently reading and an article I recently read - combined with a lesson learned early in my career.

The book is a classic. In fact, I’m almost embarrassed to say I am reading it for the first time. Dale Carnegie’s, How to Win Friends and Influence People is filled with timeless wisdom. Its insights are as relevant today as they were when it was published 76 years ago. They’re the kinds of things that will make you say, “Oh yeah, I know that” and then realize that you’re not putting them into action. Carnegie’s approach is all about putting the other person first with imperatives like “Become genuinely interested in other people” and, “Be a good listener. Encourage others to talk about themselves.”

The article is from the current issue of Motivated magazine. In it, Stuart Knight argues that the key to realizing business and professional goals is what he calls “Powerful Conversations.” Meaningfully connecting with people, Knight argues, should be at the top of all of our to-do lists and is the ability that distinguishes the most successful people in any field. As he says, “Success … [is] not directly related to how many people you know, it has everything to do with the number of people who feel like you know them.”

So, how can we transform all of this great advice about conversations into something more results oriented? I was taught an invaluable lesson learned during my career in headhunting, which, by the way, is probably the world’s most challenging sales environment. In the course of any week, I would make at least 100 cold calls and more often than not, I didn’t get the answer I was looking for. But the owners of the agency drummed a very simple principle into our heads - even if you don't make a sale, learn something from every phone call. Discover something you didn’t know about the person the company or the industry. The point was to make every call worthwhile because you never knew when the information gained could be used to your advantage.

How can all of us involved in promoting our businesses, raising funds for a cause or selling a product, get greater value out of the thousands of solicitations we make every year – even when we get “no” for an answer? Easy. Just ask questions. The answers may produce leads, provide the basis for a future pitch or simply enhance our understanding. Here are some examples:

• What do you think are the prospects for your industry in the coming year?
• Who do you see as the leaders in the field? 
• Do you think your charitable giving will increase or decrease this year?
• What organizations are you volunteering for?
• What charitable organizations do you think are doing the best job?
• What are your company’s (or department’s) major goals for the year?
• What do you think was the most notable advance in your industry last year?

Admittedly, this all relates to the rather low-tech realm of phone or face to face contact. But I think the principles can be adapted to e-communication and in fact successful use of social media lies in maximizing the potential to learn something from every interaction.

For me the key is to not regard “no” as the end of the conversation but rather to use it as a point from which to build relationships and increase knowledge.

What do you think?