What a Scam Artist Knows...

I've heard that business is booming for scam artists and con men as the recession has many looking to make a quick score. In many cases these are sales pitches designed to separate you from your money as quickly as possible. If you're ever approached with an offer that sounds too good to be true, see if it fits this pattern:

• Does it require you to act very quickly?  It's an offer that could vanish in a short amount of time.
• Does it involve some sort of new or secret knowledge that could change the world?  And yet it has received no media coverage.
• Are the people who sing the praises of the deal somewhat unknown or anonymous?  But they sounds like folks just like you and me.

Clearly these scam artists have tapped into the human psyche. We are attracted to the idea of a special deal that can change our lives. We can imagine ourselves acting decisively to improve our future.  And maybe we can even see ourselves sharing our secret with others who we decide should enjoy the fruits of our good fortune.

While we associate these underhanded methods with unsavory characters, they are often used to a lesser degree by some very successful sales professionals.  The key is making sure the product or service that you are hawking is reputable. When it comes to an irresistible offer, what's the difference between an honest or dishonest one?  The ability to sell it to your mother and expect to still be invited to Sunday dinner.

The Smell of Desperation

During the past few days, I've received a few phone messages from the guy who was my mortgage broker when I bought my home more than four years ago. As you might guess, we haven't stayed in touch but now he seems very concerned about my well being.

In fact he'd like to see me rework my mortgage. This from the guy who looked at me like I was from Mars a few years ago when I told him that I didn't want an adjustable rate mortgage because there was a good chance that the economy was going to tank in the future. Turns out my judgment was right and his was wrong. Based on his expertise, I doubt he'd be the agent I'd like to talk to about reworking my deal.

But the dude also undermined himself in something he said: "Give me a call from now until midnight and after 10 a.m. tomorrow." That tells me that either he's so desperate for business that he's putting the rest of his life on hold or that he's working 14 hour days. Neither scenario gives me confidence in him.

There's a good chance that he may help some people who are unable to pay their mortgages. Of course the problem might be with the deals he worked on a few years ago. Nevertheless, by making himself so available, at a time when I haven't identified his services as as need, his sales pitch smells of desperation.

What could he have done? If the housing market had stayed strong, I might have been looking to move. Had he kept in touch with me, through something as simple as a holiday card, he would have stayed top of mind. Perhaps he could have shared examples, in a blog or a newsletter, of how he helped other people with their mortgages. By sharing his expertise, I might have come to the conclusion that his services could help me.

Right now I'd feel more confident trusting a circus clown with my money. At least then, I'd know going in that the smile I'm seeing may not be real.

Over Engineered & Under Thought

Recently I looked at my remote control instead of my TV. I noticed how some buttons are well worn from repeated use. But on one of the top rows, I noticed a rather new looking button. It features the symbol of an asterisk. I then found the instruction manual where I tried to find out the button's function. I was surprised to read: "This button is not available."

Evidently the creators of the device decided to place a nonfunctioning button prominently on the keypad. That's a bit weird as there is an expectation that a button must do something.

In other areas of life we see similar things. Ever been told about a daily special at a restaurant, order it, and then be told there's no more available. Perhaps you've bought a ticket for a movie but when you get in the theater, the only seats available are in the front row. Or you've gone to a 24 hour pharmacy at 2 a.m. only to find that the convenience is outweighed by the fact that the place is massively understaffed.

It's good to deliver a product or service that creates anticipation. But it's equally important to make sure the expectation of quality is met.

Generational Sales

I'm a fan of the All Things Digital blog. I enjoyed a recent post about how some cell phone companies are marketing and designing their products for senior citizens.
Loud-and-Clear Mobile Calls for Seniors

The phones offered may be a little low tech compared to some on the market but the goal is to give the seniors a tool they can use. Most need a basic phone, with larger keypads, and volume controls that can overcome hearing loss.

This older market could be the new gold rush for the tech industry. The need is there but the challenge may be making sure that the sales force can sell to these folks. If you go to an electronics store, you'll usually find a young person on the sales floor who's grown up in a high tech world. He or she may be an expert on technology but not the needs of the elderly. A successful marriage of the two, plus a good branding campaign, could pay off for a smart retailer.

Nowadays with four generations potentially shopping in the same store, it's important that companies train their sales forces to address the needs of all.

Just Give Me the Cash...

Today I visited an ATM to make a quick withdrawl. Before I could get my card back, I was surprised to see an advertisement on the screen. It was for an additional bank service. I had the option of pressing a button to say whether I wanted to be contacted with more information. I chose to proceed to the "get your card back" option as quickly as possible and ignored the ad.

There' s few problems I see with ATM advertisements:

1. People aren't in a browsing mood. I go to an ATM for fast service. I'm not looking to linger and think about new services and other ways I can spend my money.
2. ATMs aren't the safest places. Why would I want to hang out any longer at one?
3. By adding as step to the ATM process, the bank has slowed down the line. In today's speed obsessed culture, that's not a good thing.
4. While an on screen ad hardly costs anything I doubt it has a high rate of return. And does the bank gain more of a negative association with its customers by sneaking in a commercial?

Why Cold Calls Fail

Imagine working in an industry where a high level of failure was a daily expectation. In baseball if you connect on one third of the pitches, you're a star. But success in the phone sales business is much lower. For many call centers, the name of the game is making as many calls as possible in order to get that elusive hit. But is there a better way to do business? In this video report, I'll go over some of the mistakes and missed opportunities callers are making. These are also some good customer service principles to keep in mind as you move from survival to success.