Welcome to The Fordyce Letter:
Our previous three articles have focused on “how” to develop exclusive client relationships. In this article I will provide a summary of the questions from the near record number of calls and emails I have received in response to those articles.
Articles tagged 'clientdevelopment'
Developing Exclusives – Q&A and Final Thoughts
by 
Terry Petra
on Aug. 23, 2011
Terry Petra
on Aug. 23, 2011
Our Clients Not Only Made Lemonade, They Served Jambalaya
by 
Jennifer Brigham
on Aug. 18, 2011
Jennifer Brigham
on Aug. 18, 2011
Lemonade was the theme of our last Fordyce Letter article (Lemonade, Anyone? From the January 2011 issue). We were happy to share the three main strategies we implemented when a down economy really forced our hand, driving a change from a salesperson-driven culture to one more affordable and still focused on new business development, but sans salesperson. To recap, our three “Lemonade” initiatives were:
- No more salespeople. Our traditional staffing coordinators are now relationship experts — not only with applicants and contract employees, but also with prospects and customers. Their relationships, and strategic business development goals, drive new business development.
- A bigger, friendlier brand presence with customers. We continue to be the “little staffing company that helped.” We don’t want the lack of dedicated salespeople to create a vacuum, so we continue to stay very active in personal relationships, educational marketing initiatives, and social media, to stay top-of-mind in a truly helpful way.
- A more engaged, relationship-oriented presence continues to be our recruiting strength as well as a sales strategy. Since the Lemonade article in January, we have continued to avoid paid recruiting advertising and stayed focused on the more personal touch — including all forms social media, referral programs, job fairs, and other old-fashioned recruiting methods. We even resurrected the “Now Hiring” job flyers — they work in our market!
As we continue to make “lemonade” and improve and strengthen our relationship-based, social media-driven methodologies, we were delighted when one of our longtime clients asked us to bring those tools to the table when they threw a huge party — in honor of BURYING the recession. Here is a “When the economy throws you a curve ball, make Jambalaya” story that I hope makes you smile. Thanks to our client, OEM Fabricators in Wisconsin, for allowing us to be a part of this event and share the story.
Developing Exclusives – The Written Agreement
by Terry Petra
on Aug. 16, 2011
Terry Petra
on Aug. 16, 2011
The agreement to work on an exclusive basis with your client can be confirmed either verbally or in writing. However, as a wise man once noted:
“Verbal agreements aren’t worth the paper they’re written on.”
The exclusive relationship is established verbally but should be confirmed in writing and signed off by both parties. If you are dealing with a reputable client who is sincere about utilizing your services on an exclusive basis, there should be no valid reason why they would not sign a document that confirms that to which they have already agreed. Therefore, we will concentrate on written agreements.
Developing Exclusives – The Presentation
by Terry Petra
on Aug. 10, 2011
Terry Petra
on Aug. 10, 2011
In our previous article we stated that “… exclusive relationships generally produce better results, in less time, while requiring the investment of fewer client resources than traditional methodologies.” However, this is a fact that may not be widely accepted by your prospect/clients. Therefore, in order to sell the concept of exclusivity, whether retainer or contingency, you must understand the justification for establishing such a relationship.
Converting Industry Experience Into Recruiting – The “Credibility” Factor
by 
Mike Smith
on Jul. 21, 2011
Mike Smith
on Jul. 21, 2011
Everyone knows that the recruiting business is a phone business. Without that basic communication tool, we wouldn’t be able to interface with as many people as we do. Our business is also a “sales” business. We’re constantly selling our value to our client. Crucial to the “sales process” is that we must first establish our credibility with our client. Really for all of us, the sales process begins by identifying a client with a need. That is in knowing your market or being attuned to what is going on.
The Power of Exclusives
by Terry Petra
on Jul. 13, 2011
Terry Petra
on Jul. 13, 2011
The state of the economy notwithstanding, the opportunity to secure business on an exclusive basis may be greater today than at any time in the past ten years. Companies have no margin for error when filling mission critical positions and many of them are choosing to use fewer vendors who can produce better, more consistent results. This presents an increased opportunity to build exclusive relationships with your clients. However, in order to take advantage of this opportunity, you must be prepared to understand and properly present the benefits that accrue for clients through this type of mutually supportive relationship.
The major difference between a contingency client relationship and an exclusive client relationship may have been stated best by a client who said:
“If I understand it correctly, with a contingency relationship I’m in if it works. However, in an exclusive relationship, I’m in and it better work. Does that about sum it up?”
Yes, that about sums it up.
The Importance of Tie Down Questions
by Terry Petra
on Jul. 7, 2011
Terry Petra
on Jul. 7, 2011
By definition, a tie down question is one that requires a response that clarifies (ties down) the position of the one answering the question. Asking the right tie down questions at each step of the search and placement process is one of the earmarks of a top producer.
The two primary benefits of asking tie down questions are:
- The answers provide you with information needed to better control and direct the process toward a successful conclusion.
- The answers, by their very nature, define the level of commitment and positional flexibility of the one answering the question.
In the jargon of sales training, tie down questions are also referred to as closing questions. In our business, we need to be asking tie down questions (closing questions) at every step of our process. At no point is this more critical than when we begin our process with a client. In fact, many recruiters who fail to ask the proper tie down questions at that time eventually discover they are trying to work with a client who really has little or no desire to work with them. This represents an almost perfect definition of a waste of time.
Therefore, here are three examples of tie down questions that can be asked at the outset of your discussions with a client if you have any doubt whatsoever about their willingness to work with you. These examples are simple in their wording but leave no room for ambiguity in their answers.
Laser Focus Leads to Placements
by 
Jordan Greenberg
on May 31, 2011
Jordan Greenberg
on May 31, 2011
As demand for our search and placement services started to pick up late last summer, I decided to focus intently on one huge task; increasing the production on my desk. I established new goals, blocked out all other peripheral responsibilities, and hunkered down to re-create a profitable business. Today I can report that my venture has been a huge success!
Those of you that run a solo practice know we all have the challenging day to day task of managing priorities. We have to determine if we truly have the right searches to fill, once we obtain them, and then must attack each placement opportunity with precision and efficiency. We must qualify diligently and seek immediate results without appearing impatient or testy. This process has required maximum focus, a willingness to learn from the challenges of 2009 and a dedication to what has, and always will, work in this awesome industry of ours.
The attention to detail on each search assignment is where it all starts, but often the other aspects of being a successful practitioner get overlooked. I am here today to say that if and when you put together a string of six months of approximately $50K in billings per as I just have, the resulting financial payoff makes it all okay.
Client Relationships: Why Some Succeed and Others Don’t
by 
Dan Erwin, PhD
on May 18, 2011
Dan Erwin, PhD
on May 18, 2011
In virtually all professional service organizations, clients are the key to success. More and more service professionals understand that strong, face-to-face-client communication is the antidote to escalating commoditization pressures and the intense competition of the New Economy.
Is the “Wuss Factor” Hindering Your Sales Success?
by 
Bob Croston
on May 3, 2011
Bob Croston
on May 3, 2011
I had the pleasure of meeting Ed Rendell when he was the mayor of Philadelphia. He was pointed and direct, quite different from the other politicians I have met over the years. So it came as little surprise when early this winter, Rendell, then Governor of Pennsylvania, called NFL officials “wimps” for canceling a game between the Eagles and Vikings due to snow.
When asked about the NFL’s decision the next day, Governor Rendell made his stance clear: “My biggest beef is that this is part of what’s happened in this country. We’ve become a nation of wusses.”
This nation of wusses has extended into the field of sales. There’s no hiding that sales is difficult. Day in and day out you face rejection, you must constantly be filling the pipeline with new leads, you have quotas you must meet, and results are often inconsistent.
Yet too many sales people use these difficulties as excuses and let them hinder their own success – they wuss out.
How can you tell if the wuss factor is dragging you down? Look out for these five symptoms:
