Optimise the sales pipeline increasing revenues and improving profitablity? Decrease sales times...
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360 Degree Sales Cycle
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Transcript of Optimise the sales pipeline increasing revenues and improving profitablity? Decrease sales times...
360 Degree Sales Cycle
Optimise the sales pipeline increasing revenues and improving profitablity?
Decrease sales times and the cost of each sales?
Increase sales effectiveness and productivity?
Proactively address threats and pursue add-on, up sell, cross sell opportunities?
Profitably manage customers and increase loyalty and lifetime value?
How Best to…..?
360 Degree Sales Cycle
Marketing
Post Sales
Support
Sales
Approach◦ By taking a 360 degree approach to providing
services, you not only know why your services are selling, but where they are vulnerable and what you will have to do to keep selling products into the future.
Visibility ◦ Delivers an unmatched, comprehensive view of
each sales opportunity by providing complete visibility into a prospect and customers history, milestones, key decision makers, tasks, activities and progress.
360 Degree……
Uses consultative approachesSeeks to uncover needsWorks as a partnerProvides win-win solutionsBuilds relationships…... Then sales Is about building rapportAdds value to client
360 Degree Sales?
Consultative Approaches
Learns about client through questions
Depends on proactive listening Sees problems through client’s eyes Maintains integrity Seeks best solution for customer (versus sales commissions)
Seeks to Uncover Needs
Questioning / Listening skills Reads ‘between the lines’ for needs implied
Focuses on solution, not products Offers options, lets client choose Avoids product based solutions Provides counsel versus quick
Works as a Partner
Sits on same side of the table as the client
Helps client evaluate options Sees long term relationship as the focus
Offers recommendations that generate sales
Provides Win- Win Solutions
Isolates needs (versus positions) Generates additional, creative (attractive) options
Demonstrates win-win paybacks Focuses on relationship (versus winning the negotiation)
Stays on ‘same side of table’
People only buy (long term ) from those they trust
Develops relationship of trust, counsel
Seeks first to understand client need Feeds back client need to demonstrate empathy, understanding
Always maintains integrity
Builds Relationships, then Sales
People buy from people they trust People trust people like themselves People trust people who are empathetic
People trust people who are credible Without trust there is no communication
“Prescibing without diagnosis is malpractice”
Is about building Rapport
Value added Sales vs Traditional Sales
Relationship based Long term focused Solution centred Depends on
integrity, trust Focuses on adding
value Defers product
discussions
Transaction based Short term sales
focused Product centred Focuses on
‘closing’ Begins with
product discussions
Brings new data to bear on the problem
Honestly admits when product is not a good match (recommends others)
Takes a business-based approach to solutions
Recommends valuable (profitable) added services, features
Adds Value to Client
B2B Sales Strategy 101 Model Comparison
Document what “works” effectively
Develop communications skillsDevelop negotiation skillsDevelop presentation skills Instill good work habits Install measurable targets
Your Best Approach
Reaches beyond immediate sale, uncovers needs
Builds relationships, loyalty Takes long term view of the relationship Puts client and vendor on same side of the
table Focuses on upgrading skills of all sales
people Changes the philosophical approach to
sales
Why a 360 Degree Sales Cycle?
360 Degree Sales Cycle
The OverviewKnow your job responsibilitiesKnow your company messageKnow your competitors
Understand your products and services
Drive sales of your products and services
Achieve and then exceed your assigned sales quota
Represent the company to the marketplace in a professional manner
Know Your Job Responsibilities
Who are we?◦Our marketspace and our profile
What are our core values?◦Our mission statement
What do we do?◦Our products and services
What do we bring to the table?◦Our value proposition
Know Your Company Message
Who are our competitors? What do they do? What do they bring to the table?
There is competition for all business- whether local, nation or international
Can be competition of product or service- or competing for the finite dollars available –the priority of best spend in any one budget
Know Your Competitors
360 Degrees Sales Cycle
The Process
Prospecting and lead generation Planning sales calls Meetings Post call follow up Documentation Presentation Sign off Own and implement the sale After sales service Post sales follow up Repeat and up sell
Sales Process
Identify current customer base
Identify and rank prospectsIdentify decision makersSchedule sales calls
Prospecting & Lead Generation
Research prospect company Identify audience Define presales support (engineers for
example) Plan meeting agenda Plan your objective Set your follow up objective Call and confirm your meeting ahead of
time
Planning Sales Calls
Make introductions Define and then confirm prospect’s
objectives Define your objectives Review business need Identify budget Identify decision maker and decision process Identify contributing factors Present possible solutions Reach consensus: fit; not fit; investigate
further
Meetings
Common sales errors◦Not prospecting◦Not conducting pre-meeting research◦Not being prepared◦Talking too much◦Providing irrelevant information◦Making the wrong pitch◦Not anticipating objections◦Not asking for the sale
Meetings continued
So remember………◦Know your product!◦Think like your prospect in order to be
successful◦Remember: Ratio of 2/1- Two ears/ One
mouth◦Focus on solving the ‘pain’◦Avoid long-winded proposals◦Know when to walk away and move on to
the next prospect
Meetings continued
Send a summary email or letter to your prospect and then follow up with a phone call◦ Thank them for the meeting◦ Recap the meeting◦ Review agreed upon next steps◦ State future intentions- ‘where to from here’
Notify your appropriate internal resources for any next step assistance (eg engineering dept)
Update account files / CRM
Post Call Follow-Up
Prepare appropriate documentsReview the documents with your prospect
Present a solid business case that addresses their pains / gains
Documentation
Deliver documentsPresent your proposalRequest the sale
Presentation
Sign all documents
Close the sale
It is not a sale until all necessary paperwork is in place and the process begun
Sign -off
Process necessary paperwork
Follow up the processMake sure the sale happens – this is your customer and future good will!
Own and Implement The Sale
Customer serviceTechnical supportBillings & collection
After Sales Service
Ensure your customer is happyContinue to build the relationshipStrengthen your contacts with the customer
Set reminders for emails, follow-up, courtesy calls
Post Sales Follow Up
Strengthen the relationship
Ask for referralsUpsell and add more services
Maintain a partnership
Repeat and Upsell
