Post on 01-Jan-2016
description
Craig EliasCreator of Trigger Event Selling™
SALES TRIGGERS
Find HiddenOpportunities and
Shorten Sales Cycles
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Selective Perception
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Craig Elias
• 20 years as a top sales performer• Created Trigger Event Selling™
• Billion Dollar Idea Contest
• Dow Jones 50 most promising
• Dadpreneur
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Poll: Learning Objectives
1. Learn about Trigger Events
2. Identify the best Trigger Events
3. Trigger Event Selling™ techniques
4. Learn when Trigger Events happen
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Before We Get Started
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Selling Paradigm
The silver bullet in sales is
Timing:
Getting in front of the right personat EXACTLY the right time!
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Timing and Buying Modes
StatusQuo
Window of Dissatisfaction™
SearchingAlternatives
Happywith Status Quo
Not SearchingFor Alternatives
Unhappywith Status Quo
Not SearchingFor Alternatives
Unhappywith Status Quo
SearchingFor Alternatives
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Timing and Close Ratios
0% 60 – 90%* 16%**
**Aberdeeen Research: Lead Lifecycle Management: Building a Pipeline that Never Leaks, 2009* InnerSell Survey of over 200 sales executives and sales people, 2003
StatusQuo
Window of Dissatisfaction™
SearchingAlternatives
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Window of Dissatisfaction™
Adam knows what he has does not meet his needs but he is is too busy to start searching for alternatives
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Timing and Selling
Higher Close Ratio
Shorter Sales Cycle
Higher Prices
Lower Close Ratio
Longer Sales Cycle
Lower Prices
Valu
e Valu
e
Window of Dissatisfaction™
SearchingAlternatives
Valu
e
StatusQuo
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Reference
Timing and Customers
Core Peripheral
Loyal
80% of Profit
Referrals
Disloyal
80% of Headaches20% of Headaches
20% of Profit
Window of Dissatisfaction™
SearchingAlternatives
Value Proposition
Increased MarginsHigher Close RatiosShorter Sales Cycles
Core CustomersLoyal Customers
80% of ProfitReferences & Referrals
Grow Faster!
Window of Dissatisfaction™
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
How To Know
StatusQuo
Window of Dissatisfaction™
SearchingAlternatives
Not Interested
Don`t need it right now
We`ll be looking at that in a few
months
Call me back in ??? November when well be looking
Currently looking
Send me a quote
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
What Triggers The Best Timing?
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Trigger Events
StatusQuo
Window of Dissatisfaction™
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Trigger Event or Circumstance?
• Falling stock price
• Shrinking margins
• New product launch
• Large customer contract
• Competitor gets acquired
• Change in decision maker
• Unhappy with current solution
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
A Trigger Event ...
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
A Trigger Event ...
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Selective Perception
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Poll: Trigger Event Usage
1. Evaluating Trigger Events
2. Using simple Trigger Event alerts
3. Using a Trigger Event service
4. Using a Trigger Event suite
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
The Brute Force Method
McKinsey Quarterly: The basics of business-to-business sales success, May 20101,200 purchasing decision makers in small, medium, and large companies in USA and Western Europe
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Gerhard’s Tree of Discontent
http://sellingpower.typepad.com/gg/customer-relationships/
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Quantity Vs. Quality
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Define Your Targets
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Select Contact & Trigger Types
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
OneSource Sales Triggers
http://sellingpower.typepad.com/gg/customer-relationships/
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Merger & Divestiture Trigger
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Ray Kroc
“The two most important requirementsfor major success are:
first, being in the right placeat the right time,
and second,doing something about it.”
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Research the Prospect
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Understand Strengths/Weaknesses
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Market Intelligence
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Corporate Conversations
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Departmental Conversations
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Expand Contacts & Get Details
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Three Forms of Trigger Events
Want
Executive Changes• Executives are hired to
make a difference and do it fast.
• They need to buy solutions and services to make that happen.
• Easier to change suppliers because they can say a previous, poor, choice was some one else’s.
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Three Forms of Trigger Events
Afford
New Funding• Companies with new funding are 8x more
likely to buy many services than companies without a funding event.
• Funding is meant to drive growth which means purchasing new solutions and services to help with sales, marketing, product development, operations, and even finance.
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Three Forms of Trigger Events
Just
ify
Product Launches• New products create
demand for products and service that can fuel growth.
• The launch of a new product requires companies to purchase marketing services, sales training, e-commerce and CRM systems…
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
When Does The Buying Cycle Start?
Want
Afford
Just
ify
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Identifying The Best Trigger Events
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Won Sales Analysis™
Every Time You Win a NEW CUSTOMER
• Ask the primary contact the questions in the first four grey areas documenting their responses in the lined areas provided in the top four sections
• Classify the opportunity using the check boxes and notes sections in the bottom half of the worksheet
• Search for patterns in your customers and the conversion rates by type of Trigger Event and lead generation method
Services Sold:
People People Legal
Product\Service Places Risk Avoidance
Company Priorities Economics
< $10 Million Local B2C
$10 Mil. - $100 Mil. National B2B
> $100 Million International Wholesale
Online Local Networking
Offline Regional Cold Calling
Channel Divisional Customer Referral
$0 - $5,000 $25K - $50K $250K-$500K
$5K - $10K $50K-$100K $500K-$1Million
$10K - $25K $100K-$250K Over $1Million
1 day 2 - 4 Weeks 3 - 6 Months
2 - 7 Days 1 - 2 Months 6 - 12 Months
8 - 14 Days 2 - 3 Months > 12 months
CLOSE
IMPROVE
SelfSales
Trigger Event Selling™Won Sales Analysis™ Worksheet
Customer Name: Date of Sale:
What changes/events lead up to this purchase? (Select all that apply)
Bad Experience Change Awareness Notes/details
IDENTIFY
FIND
Notes/details
Notes/details
When did the event(s) happen?
What made you choose us?
Notes/details
What could we have done better?
Notes/details
Sales Cycle (Select One)
CLASSIFY
Lead Source (Select One)
Size of Sale (Select One)
Customer Demographics (Select One For Each Column)
Size Decision Maker Industry
Marketing
People
People
People
People
People
People
People
People
People
People
People
People
People People People
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Time
Won Sales Analysis™
#1
#2
#3
1.What event(s) lead up to this purchase?
2.When did these events happen?
3.What made you choose us?
4.What can you do to make it easier to become our customer?
#4b
#4a
Em
otio
n
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Summary
If you only remember three things about today please remember:
1. Focus on the Window of Dissatisfaction
2. Look for Trigger Events
3. Analyze your wins
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Selective Perception
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Taking Action
What is the one thing
you will do differently
from today forward?
Sales 2.0 Conference, Boston © Craig Elias 2002 – 2010 sales20conf.com/boston2010
Resources
• TriggerEventWebinars.com• 3 parts: 2nd Tuesday in July, Aug, Sept.
• OneSource.com• Free Trial
• Front of the room or iSell booth• Business Card
– Worksheets and/or presentation
• SHiFT! The Trigger Event Selling™ book