Due to mounting privacy concerns, nearly one in 10 Americans deleted their Facebook account, nearly two in 10 deleted the app from their phones, and 35% are using the platform less. Trust matters. With Europe’s General Data Protection Regulation (GDPR) taking effect on May 25th, now is the time to launch a broader conversation about data collection and security–in other words, an opportunity for CEO statesmanship.
Everyone will comply (or face the wrath of governments and users alike). But there’s still a competitive advantage to be had. Case in point, CEO Tim Cook has engaged in an all-out marketing assaultagainst his Silicon Valley counterpart, declaring privacy is a human right at Apple. Respect for privacy is no longer just a compliance issue, it’s a branding choice.
Lesson: People are willing to pay more for brands they trust. Are you tapping into this demand?
Sales Best Practices of the Month
1. Look beyond money for motivation. With 70% of customer lifetime value now generated post initial sale, a long-term strategy is essential. Motivate with rewards that build fidelity to the customer and to your brand. In a profession leaving a massive chunk of customer value on table and churning 22.4% of its reps, choose incentives that are dual-threat solutions.
2. Embrace change and the day-to-day technology to make it happen. 86% of managers want AI to assume administrative responsibility, freeing them to excel in areas machines cannot. The sales leaders of the future do not avoid technology but wield it to enhance people, beginning with their employees. Buzzwords like “change management” can seem daunting. Think in terms of daily micro-changes, however, and you will set attainable goals for yourself and your organization. Slices make the pie, and daily actions yield yearly achievements.
3. Read something new every day. (Reports don’t count.) A US President once said, “Not all readers are leaders, but all leaders are readers.” It’s easy to get caught up in the day-to-day running of an organization and forget to stop and reflect on the big picture. When is the last time you picked up a book or high-quality publication to reinforce your corporate strategy?
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