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The Big Idea Blog


Current DateTime: 07:51:03 16 Nov 2009
LinksList Documentid: 25934472
Expiration DateTime: 11/16/2009 7:54:12 PM

THE BIG IDEA: VIDEO


Current DateTime: 07:51:03 16 Nov 2009
LinksList Documentid: 25917143
    • A Secondary Financial System?  11 Nov 2008

        America speaks out with their solutions to the country's economic crisis and Jeremy from New York offers an unconventional, although historically relevant solution.

    • The Need for Transparency  05 Nov 2008

        Donny Deutsch, Jim Cramer and Dylan Ratigan debate the possibilities for transparency and suggest solutions for the country's struggling housing market and unprecedented government actions.

    • Senator John Kerry  23 Oct 2008

        Donny Deutsch and Larry Kudlow question Senator John Kerry (D-MA) Chairman of the Senate Committee on Small Business and Entrepreneurship, on the state of the economy and the outlook for small businesses.

THE BIG RECAP


Current DateTime: 07:51:04 16 Nov 2009
LinksList Documentid: 25919169
Expiration DateTime: 11/16/2009 7:54:09 PM
Text Size
Jul.01
5:23 PM ET
Tuesday, 1 Jul 2008
Read a Chapter: The Contrarian Effect

Everyone's Doing It

At any rate, that ’ s what Kyle, the sales associate working for the hardwood floor company Michael contacted, seems to think. After reading the company ’ s web site and doing some research on its services and offerings, Michael set an appointment with Kyle to clarify some questions he had

about the quality of the product and the level of service the company would provide. Although Michael wanted to discuss matters over the phone, Kyle insisted that he visit Michael at his house to better assess his needs.

When Michael asked Kyle about something he had seen on the web site, Kyle explained that "what you see is not always what you get" and that "selling the sizzle" instead of the porterhouse steak (selling less value than you promise) is a common practice:

I want you to understand that what we have printed on the web site is not exactly true. But you can understand . . . that's just marketing. That's how things work.

Because Kyle accepts the typical tactics and traditional paradigm as standard, he couldn't see any problem with his company's posting less - than - accurate information on its web site and with his using that information in an attempt to close more sales. He couldn't see why he wasted Michael's time by coming to his house and trying to sell Michael on the idea that "this is how things work."

Michael's complaints and protests fell on deaf ears, since Kyle didn't conceive of doing things any other way than how they had always been done.

Kyle might have been worried about losing the sale if he thought other hardwood fl oor retailers had adopted the contrarian way. But he believes that most of them haven't — which is a bet he's making without evidence and without proof that his assumption is really true. But until he gets wind of the company that is doing the opposite, he's not concerned in the least whether his customers agree with "selling the sizzle" to speed up a sale. As long as everyone else is doing it too, he doesn’t have to:

- Feel guilt or have any ill feelings as a result of using the typical tactics Consider the implications of using the typical tactics day after day on his customer relationships and on his own well-being

- Worry about changing the status quo (since he believes it's not possible to do so)

- Accept personal responsibility for his actions and consciously choose how he wants to sell

As a sales professional working for a company that operates with the standard paradigm, he believes his responsibility is to sell in the way that his company asks him to and to produce its targeted results. While he may dislike or question the typical way from time to time, he understands the benchmarks he has to hit. And with that, he can quit worrying about whether the typical tactics are  the most ethical way of doing things. He can shrug off comments from customers who protest and push back when the typical tactics are used. Right or wrong, that's the system — and he believes his success depends on thriving within that system. Too bad that Kyle doesn ’ t realize he can play by a different set of rules.

The Full Monty

If you've ever seen the World Series of Poker, then you understand the importance of secrecy. To win the poker game, the players must have skill, the ability to calculate which cards are left in the dealer ’ s deck, and the finesse to cover up or artfully hide their own hand. The player who succeeds in doing this wins.

Unlike the poker champion, the most crafty and secretive salesperson loses big. In the heyday of the typical tactics, keeping secrets and telling little white lies to make a sale may have worked. Not anymore. There's been a big shift in the market — one from secrecy to radical transparency. A shift in which customers want — and require — full disclosure and total honesty.

The customer - driven demand for honesty and full disclosure is another compelling and profi table reason to

adopt the contrarian approach. Grounded in a concern for what ’ s best for the customer, even if that means being honest about the limitations of your products or services, the contrarian approach allows you to be radically transparent and open with potential prospects and clients. When you choose to be transparent, customers know it and tell their peers and friends that you're the person to call when it's time to do business.

CONTINUED
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