The Sales Process from A to Z
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THE NEED FOR A SALES PROCESS PROBLEM The results of a recent study conducted by The Sales Board confirmed what we have known for some time. Prospects are speaking up about how they feel about salespeople who are less than professional. We thought that you would like to see these statistics as they reinforce the need for a sales process and challenge you to improve your qualifying efforts. DIAGNOSIS The study showed the following startling facts. Can you relate to them as a salesperson or as a buyer? Fact: 82% of salespeople fail to differentiate Result: They lose the business, fail to sell value Fact: 86% of salespeople ask the wrong questions. Result: They miss selling opportunities and end up wasting time while appearing unprofessional. Fact: Only 18% of salespeople close without discounting price. Result: Discounting becomes a habit and profit margins are eroded. Fact: 95% of customers say salespeople talk too much. Result: Customers are bored and feel salespeople don’t care about understanding their problems. Fact: 62% of salespeople do not earn the right to ask questions. Result: They fail to position the sale properly and don’t gain commitment. Fact: 85% of salespeople use a selling process that is extremely ineffective, compared to the buyer’s system. Result: They close less than 50% of the business that they should close, with disastrous effects on their companies’ sales and their personal incomes. You may be ‘winging it’ if you find yourself relating to any of the following: (a) chasing prospects who don’t return calls; (b) hearing ‘think it over’ all too often when you ask for the business; (c) cutting price in an effort to obtain or keep business; and (d) spending most of your time in front of people who are not decision makers. SOLUTION 1. Stop assuming that your prospect needs what you’re selling. 2. Learn how to ask more questions to see if the prospect has any serious ‘pain’ issues that your product or service can resolve. 3. Learn a sales process to help you stay in control of the sales interview.
Transcript of The Sales Process from A to Z
Steps to summitingSteps to summiting
Prospecting
Partnering
Qualifying
Identifying/Creating
Presenting
Summiting
o b j e c t
i o n s ?
Quick Quiz?1. To persuade a client it is better to give information than seek it? 2. The more the customer knows about your product the more likely they
are to buy? 3. Effective sellers tell customers about their product as soon as possible? 4. When selling the more questions you ask the better?5. Benefit statements during call opening is effective to get customers
attention? 6. The more experienced you are at selling the more successful you will
be? 7. All customer needs are the same? 8. A satisfied need will always lead to a sale?
Quick Quiz?9. A customer with a very big problem is always ready to
accept a solution?10. When a customer states a problem you can solve you should
immediately offer your solution11. A good opening will determine whether you make the sale12. The more features and advantages you describe the more
likely you are to make a sale13. Closing techniques are effective in major sales14. Objections are a sign that your customer is interested in your
product, so the more objections you get the better the chances of making a sale
Everything is the same…
• Levels of Service• Product• ROI Business Case• References• Brand• Price & Terms• Product Availability
The product advantage has all but disappeared…
In a world of commodities… the only
differentiatoris
YOU!YOU!
Why should I brand myself?
If you don't brand yourself, others will.
Catherine Kaputa
Value and Price?What creates VALUE?• Solving problems and going ……..
Beyond what is EXPECTED• Helping clients achieve business and personal
objectives• Insight, over and above information and
expertise
Clients for Life - Sheth and Sobel
ProspectingProspecting
The prospecting headache
Cold-calling is deadCold-calling is dead
What is prospecting?
WORKBOOK P11
"Prospecting is defined as any activity or conversation you engage in to position yourself in front of a prospect with the intention to inquire, assess, discover, and educate so that you can determine whether there's a fit and a relationship that's worth pursuing which can then lead to presenting your product or service in order to earn your prospect's business."
Here’s the lesson about prospecting:
To find gold, you’ve got to look in the right place.
Qualifying Questions:
Have a profile of your ideal customer Have a set of criteria that suspects must meet Is their problem sufficiently compelling for him/her
to take urgent advice? Does the suspect have the money or budget? Do they want to implement NOW?’ Time & Territory Management – who is in control?
Steps to warm calling:
Plan – watch your internal dialoguePlan – watch your internal dialogue Intro – “I’ve been researching you & Intro – “I’ve been researching you &
your company and…”your company and…” Present the link opportunityPresent the link opportunity Our specific USP (how we can help)Our specific USP (how we can help) Name drop – 3rd partiesName drop – 3rd parties Close on a meetingClose on a meeting
5 Buying Decisions
Do I want to do business with this Sales Do I want to do business with this Sales Professional?Professional?
Buying Decision 1Buying Decision 1
What’s the message?
What’s the message?
What’s the message?
What’s the message?
0
10
20
30
40
50
60
and BodyLanguage
Verbal Content
55%
38%
7%
Appearance
Vocal Quality
Buying Decision 2Buying Decision 2 Do I want to do business with this Do I want to do business with this company?company? Buying Decision 3Buying Decision 3 Do I want and need these Do I want and need these products/services?products/services?
Buying Decision 5Buying Decision 5Is this the right time to make a Is this the right time to make a decision?decision?By Duane Sparks By Duane Sparks “The 5 Buying Decisions”“The 5 Buying Decisions”
Buying Decision 4Buying Decision 4Does the price and value meet my Does the price and value meet my expectations?expectations?
What makes your company distinctive?What makes your company distinctive?
What is your USP?What is your USP?
Prospecting PartneringQualifying Identifying Presenting Summiting Objections
QualifyingQualifying
Qualifying
Find the decision-makers
Identify the ‘Influencers’ Befriend Gate-Keepers
Prospecting PartneringQualifying Identifying Presenting Summiting Objections
FINDING THE LINK(S)FINDING THE LINK(S)
Finding out who the CEO isFinding out who the CEO is
• We got the name of their CEO – Justin ……..We got the name of their CEO – Justin ……..
Becoming business partnersBecoming business partners
Becoming business partnersBecoming business partners
• HOW?• Put them first…• On Quotations …..• Vocab ….. Us, We, Let’s …
Prospecting PartneringQualifying Identifying Presenting Summiting Objections
Why would they choose you?
Stand Out
Become an expert
The business landscape haschanged ...you’ve got to change
Courageous ConversationsDescribe the situation as they see it
Explore their feelings
Frame your ideas
Invite them to participate
Name the difficult remaining issues
Explore the options together
Plot the Road ahead
D
E
F
I
N
E
R
Becoming an indispensible business partnerProspecting PartneringQualifying Identifying Presenting Summiting Objections
1
2
34
5
Finding the Gaps
1 23
Widen the gaps
Prospecting PartneringQualifying Identifying Presenting Summiting Objections
1 23
Want to grow your sales?Differentiate yourself!
LSA Global
Presenting
Presenting
• Summarizing needs• FAB
Prospecting PartneringQualifying Identifying Presenting Summiting Objections
PresentingPresenting
• Choose one…Choose one…
What makes What makes your product your product or service or service distinctive?distinctive? cost
status
securitydurability
pleasure
Plug the Gap
Summiting
Summiting• No mystery• Collecting the Yeses• Helping people make decisions
that are truly good for them (win win)
Prospecting PartneringQualifying Identifying Presenting Summiting Objections
The CloseThe Close““The sale is yours for The sale is yours for
the asking, all you the asking, all you gotta do is ask for it gotta do is ask for it the right way.”the right way.”
Jeffrey GitomerJeffrey GitomerLittle Red Book of SellingLittle Red Book of Selling
If all else fails, remember...
a . 4 . t . bAsk for the business
Handling ObjectionsHandling Objections• See them as
opportunities• Find the real
reasons
Prospecting PartneringQualifying Identifying Presenting Summiting Objections
The Acid Test
Would you buy Would you buy what you are selling? what you are selling?
Steps to summiting
Prospecting
Partnering
Qualifying
Identifying
Presenting
Summiting
““Find link”Find link”
““Put prospect 1st”Put prospect 1st”
““Find decision-Find decision-maker”maker”
““Find gaps”Find gaps”
““Plug gaps”Plug gaps”
““Collect yeses & Collect yeses & win together”win together”
Prospecting PartneringQualifying Identifying Presenting Summiting Objections
o b j e c t i o n s ?
What do Top ProfessionalsWhat do Top Professionalsconsistently do right?consistently do right? Follow a Proven System Follow a Proven System Have a Great USPHave a Great USP Identify the UBPIdentify the UBP Widen 3 Gaps Widen 3 Gaps Courageous ConversationsCourageous Conversations Shut UpShut Up Suspect vs ProspectSuspect vs Prospect
6 Powerful Sales Tips to 6 Powerful Sales Tips to increase your salesincrease your sales
1)Never pitch before you know your prospect’s agenda.Learn to bite your tongue.
2)Stop being so nice.Make sure your self-talk is positive.
3)Become an expert in your field.People buy from people they admire and respect.
4)Be a business person NOT a salesperson.Become a trusted Business Partner.
5)Understand your BRAND and what it promises.Remember You ARE the Brand so be very proud of whatever you sell.
6)Talk to the right people – the decision makers.Engage in courageous conversations that demand honest answers.
What are the biggest time wasters in SALES?
Traffic
Admin
Meetings that run too long
Not knowing your products
Calling on non-decision makers
Distance between appointments
E –mail
Cancelled appointments
S.M.A.R.T Critical Action Plan*
YOU CANCAN HAVE IT ALL!
Now Go And Get
More Sales
Three Sources of Marketplace Three Sources of Marketplace Differentiation Differentiation
It matters because other people’s perceptions determine whether they trust you, believe you or take your
lead.
Widen the gaps
Prospecting PartneringQualifying Identifying Presenting Summiting Objections
1 23
Closing: Closing: The Magic The Magic Formula Formula
Our Goal Now:To develop a S.M.A.R.T
Critical Action Plan
Improve the sales team’s Time Management
S.M.A.R.T Critical Action Plan*
THREE Action steps that WILL make a difference
YOU CANCAN HAVE IT ALL!
More Balance Less stress
More sales
