The Secret to Smarter Sales- HBR article
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Transcript of The Secret to Smarter Sales- HBR article
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Smarter
Sales
Presented by:Amritpal singh bedi
“Customers don’t need you the way they used to”
July-Aug/2012
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What comes to your mind when you hear-
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Flashback• Since 1980, selling method involves salespeople
demonstrating why their product is better than other competitors.
• Focuses more on selling solution, employees an advocate or coach who helps the company and drives the deal to completion. SMARTER
SALES
• Customers don’t know how to solve their own problem, even they have good knowledge about what their problems are.
• It’s era of sales pro’s that don’t sell just effectively- they sell differently- focusing more on agile organizations that treats “every customer is unique, has different requirements”
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What kind of customers to target
How to direct the flow of conversation
How to begin the conversation
When to engage
Solution Selling Insight Selling
• with clear vision and established demands
• with changing demands and change goes on
• After customer has identified a problem the supplier can solve
• Before customer has pinpointed a problem
• Ask customers about their needs
• Offer exciting insights about what he should do
• Depends on customer wish
• Coach the customer how to buy and support him
Strategy 1: Avoid “Established demand”
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MOBILIZERS
ADVOCATES
Strategy 2: Mobilizers vs Advocates
Go getters
Teachers
Skeptics
Guides
Blockers
Climbers
Friends
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MOBILIZERS
ADVOCATES
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Motivating “Salespeople”
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Salespeople
Stars
• Beats the target before deadline
• May stop working efficiently if boundaries are imposed
Core performers
• Mixture of the two
• Get least attention but are essential part of work
Laggards
• Needs more guidance and initiation to work
• Carrots as well as sticks in many cases
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How to motivate them?
• Multi-tier targets• Prizes
Core performers
• Quarterly bonuses• Natural social pressureLaggards
• No bars on commissions
• Multiple winnersStars
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Selling into micromarket
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Developing micro market- 5 steps of finding growth
1. Define market size
2. Determine growth potential
3. Gauge market share
4. Differentiate Market share
5. Prioritize growth areas
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WORDS FROM PRO’SFounder and chairmanBOSTON BEER COMPANY
“ I knew brewing and business, but nothing about selling. I’m not natural salesman. I learned that if I could persuade a person to taste my beer, I had good shot at making a sale”
Executive vice chairmanEureka Forbes, Mumbai
“We took few important steps to grow ourselves- First, we de-centralized the sales operation, giving our regional offices more autonomy and accountability.Second, we began investing heavily in R&D and give our salespeople close interactions with customers”
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