Eight sales success secrets for today’s world · Worked with hundreds if not thousands of...
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Transcript of Eight sales success secrets for today’s world · Worked with hundreds if not thousands of...
Course objective
Eight secrets
Sales process
You learn:
Techniques and strategies to succeed in today’s changed world of sales
Worked with hundreds if not thousands of salespeople
Sold for over thirty years
Studied or delivered lots of sales training
Read hundreds of books
Ideas you can start using
IMMEDIATELY
1. Mindset 2. Knowledge 3. Planning 4. Rapport 5. Questions 6. Listen 7. Value 8. Get commitment
Open discussion
and position correctly
Diagnose Customer’s Situation
Create Value for Customer
Buying Decision
Open discussion
and position correctly
Diagnose Customer’s Situation
Create Value for Customer
Buying Decision
Open discussion
and position correctly
Diagnose Customer’s Situation
Create Value for Customer
Buying Decision
Open discussion
and position correctly
Diagnose Customer’s Situation
Create Value for Customer
Buying Decision
Open discussion
and position correctly
Diagnose Customer’s Situation
Create Value for Customer
Buying Decision
Mindset and Intent
Open discussion
and position correctly
Diagnose Customer’s Situation
Create Value for Customer
Buying Decision
Mindset
Get your head in the right place. In a crowded market where everybody’s shouting, how do you stand out from the crowd of salespeople? How do you have prospects that not only listen, but actively want to talk with you?
Mindset
Old style sales vs. new style sales
Salespeople sold things
They manipulated people
They had a sleazy reputation
They were self-serving
I sell, you buy
I know more than you do
I represent things the way I want
I manipulate you into buying
I’ll crush your objections
I’ll close you into a sale, whether its right for you or not
Guess what? Customers hated it…
And then came the game changer…
The buyer knows as much as the salesperson. Often, much more…
Old style sales has gone the way of the dinosaur
Be different to the sales dinosaurs
Be effective with customers
Mindset
What customers want of today’s salespeople
You and your company have to stand out from the crowd
You’ve got to be Different
Product or service features?
Quality?
Price?
Or something else?
Salesperson Competence,
39%
Total Solution, 22%
Quality of Offer, 21%
Price, 18%
Source: HR Chally, 2012
Know your customer’s needs
Customer needs come first
Be expert in the use of the solution
Be accessible and reactive
Be an effective problem solver
Proactively suggest new ideas
What’s this worth to me?
For customers, the most important question is not can your company deliver value
It is does the solution have value for them
No value for the customer? No sale
Customers are only interested in their problems and their opportunities, not yours
It really doesn’t matter what your priorities are. Customer’s interests come first
Be the expert in the use of the solution
Knowing the capabilities of your products and services is only the start
You need deep understanding of the use of your products and services and how they help customers
Customers rate your response in four ways:
Acknowledgement: How quickly can they contact you?
Response: How soon you respond?
Quality: Your ability to respond appropriately?
Execution: Subsequent quality and follow through of the response?
Problems are inevitable
Blame is counter productive
You are responsible for solving the problem
Solving problems is a valuable opportunity
Today every customer is struggling with something
That struggle leads to a constant search to find better ways to do things
When you bring true innovation to customers, you become a valued resource
Know your customer’s needs
Customer needs come first
Be expert in the use of the solution
Be accessible and reactive
Be an effective problem solver
Proactively suggest new ideas
Mindset
Intent is everything
Forget manipulative sales techniques
Really care your customer gets the right answer
Jack Welch CEO, General Electric “The more successful our
customers become, the more successful we become”
People have been trained by salespeople to resist, so don’t try to ‘sell’
People have highly tuned antennae to recognise sales tactics, so you can’t fake it
When you’re genuinely interested in them, they open up
When you try to help them find solutions to their problems, they listen
Forget trying to sell. Really try to help. Even if it means you walk away
This is DIFFICULT (And remember, you can’t fake it…)
Curiosity! The more curious you are, the
more you demonstrate you care about your customer
The more curious you are, the more you learn about how you can help your customer
Being listened to
Being understood
Believing you really care to get the
best for them
Be curious
Be analytical
Build mutual respect
Help customers solve their problems
Be equal
Only progress when it makes sense for the customer
Don’t try to ‘sell’
Do genuinely try to help
Curiosity is your best friend
Knowledge
In the old days, the salesperson knew more than the prospect. Now very often it’s the other way around. What are simple things you can do to massively increase your chances of success?
Knowledge
Be clear about the problems you solve for your customers – and their financial impacts
Forget products and services. Think how you help your customers
What problems do you solve?
What benefits do you create?
Sure you know why your customers buy?
Try asking customers why they bought. The answers will surprise you
Customers are
three times more likely to buy to solve a problem rather than gain a benefit
Top Tip! Want to treble your sales?
Stop selling features and benefits
Start solving problems for your customers
Value is only value to the customer. Beware of:
“We have the best quality”
“We have the best service”
(Who says so anyway?)
“We’re better than our competitors because we give a three year guarantee. That proves our quality is the best”
But the product only has a useful life of three months. So does the three year guarantee have any value at all?
Product and services create value by what they do, not by what they are
Value is specific to the particular customer
Value has to be expressed in specific terms:
Monetary – for example, do this and save
Time saving – for example, save five hours a week by doing this
Numbers – for example, do this and you will probably lose 5kg in weight
Be clear about the benefits you offer
and the problems you solve – in your customer’s terms
Find a way of expressing those
solutions in numbers
Knowledge
Google tells you everything you need to know
How did we survive before Google?
Search a company
Search a person
Search an industry
Search a product or service
Search competitors
Log out of Google
Check out your own search results. You might find something you need to do something about…
Customers gained power and the upper hand with Google
Google is your way to get back to equality
Knowledge
Connect with people on social media – and then be visible and helpful
Forget the hype, live the reality
On its own, social networking is no big deal
When combined with everything else you do, its awesome!
Never forget. Its not ‘lead generation’.
Its ‘relationship building’
Think networking event…
LinkedIn – for business to business
Facebook – for business to consumer
Twitter – for both and growing fast!
Does your picture look
business like?
Does your profile sound
helpful?
Are you easy to contact?
Are you using keywords to be
found?
Search for people you would like to know and connect with them
Show you care. Use a personal message – not the standard text
Try the magic phrase “We might be able to help each other”
Be visible Post two/three times a week
Link to stuff (yours and others) your followers might find helpful
Don’t blatantly advertise yourself
Be helpful Try to answer other’s questions
Join relevant groups and add your opinion
Facebook is about people to people friendships Use a ‘Page’ not your profile
Use the page similarly to your LinkedIn profile
When you’ve got LinkedIn and Facebook going, give Twitter a try too
Half an hour, two to three times a week
Online networking is highly efficient
Build relationships, don’t overtly sell
Planning
Plan your success. Confirm progress. Agree the objective, for the prospect and you.
Planning
Plan your time
Many salespeople alternate between feast and famine
You need a consistent mix of activities
The start point is a balanced pipeline
That needs consistent prospecting
You need to prospect every day
Allocate an amount of time – and do it
Prospecting is a constant activity
It need to be scheduled regularly
Planning
At the end of every discussion, summarise and confirm
Structure
Thank you…
We discussed…
We agreed…
(Include numbers you’re going to use)
Next we’re going to…
Planning
Match their buying process to your selling process
Your Sales Process
Customer’s Buying Process
You need to match buying and selling processes to avoid unpleasant surprises They have a way they buy
You have a way you sell
The processes need to join up
Your Sales Process
Customer’s Buying Process
“If you were to decide to go ahead with this, what would need to happen?”
Your Sales Process
Customer’s Buying Process
Who else is involved?
What proof might be needed?
What financial approvals might be needed?
Your Sales Process
Customer’s Buying Process
Are there any things that have to happen in your own company? Credit check?
Any approvals?
Your Sales Process
Customer’s Buying Process
For big sales, consider an Evaluation Plan List the steps required to get a
result, in the order they need to happen
Include post sales activities too
Share with the customer for their approval
Be a professional
Plan your time
Confirm and gain agreement to progress
Match processes to remove surprises
Rapport
Customers want to deal with savvy business people. This is all about how you can be the expert your customers trust and want to work with
Rapport
Be the expert and an equal
Two definitions…
“A person who has a comprehensive and authoritative knowledge of or skill in a particular area”
“A credible authority who defines what to pay attention to, what things mean, how things work and how things will turn out”
When you’re the Expert:
Customers find you
Customers want your advice
You help them solve their problems
It’s not just about knowledge. The key is perspective and ability to…
Relate your knowledge to the customer’s situation
Clarify and define the issues
Recommend action to progress
Confident? or
Arrogant?
Think Doctor… If they prescribed a solution
without diagnosing the problem first, would you trust them?
What should you pay attention to?
What does it mean to you?
How does it work?
How will things will turn out?
Listen to the customer, and then repeat what you’ve heard to confirm understanding
Help them define their problems and their impacts
Share useful information that helps them understand
Help them make sense of the mass of information
Rapport
Be a problem solver – people are three times more likely to buy to solve a problem
Remember…
People are 3 times more likely to buy
to solve a problem rather than gain a benefit
Too expensive
Too slow
Too hard
Not working
…
Too expensive – how much?
Often you have to help the customer estimate the cost. So for example:
Too slow – what’s that costing?
Not working – how much is being missed?
When you know the cost of the
problem, you’re well placed to talk about
the specific value of your solution
A cost without a financial benefit is a cost
A cost with a financial benefit is an
investment
So when you relate the cost of the problem to the cost of the solution, you
make financial sense for your customer
Costs make your proposal compelling “So we agree this problem is costing you
about €10,000 a year” “That being the case, would you say it
makes sense to invest €1,000 to fix the problem” (And with that background, they’re less likely
to ask for a discount, and more likely to go ahead now)
People buy to solve problems
Problems are unique to the person and situation
The scale of the problem defines the value of your solution
When you match the cost of the problem with the cost of the solution you justify the price
Rapport
Four questions to start a new business relationship
You’ve asked about them. You’ve got a coffee. What next?
“What’s keeping you awake at night?”
“What’s the biggest problem around here?”
Try this…
What are the big things you’re trying to accomplish?
If you could accomplish them, what would the results be?
What have you tried so far?
What’s stopping you now?
Questions
Be the doctor and diagnose the situation. People want to buy precise solutions to their problems. That means you need to know exactly what their problems are, so you can relate your solution to their situation, precisely.
You’re the doctor, they’re the patient
You can only prescribe a solution when you have a full diagnosis of the problem
Sales success today is about solving problems
Customers are busy – you need to prove there’s value in them talking with you right from the start
When the customer knows every conversation with you adds value, you build a trusted relationship
In every discussion:
Help your customers understand their situation
Use your expert status to bring new perspectives to their situation
When your sales process adds value, you gain huge respect
Find problems by asking questions
You need a framework to ask all the right questions
This questioning framework gathers all the information to create the customer’s perfect solution
What are the problems?
How does the customer prioritise the problems?
What are the impacts of the problems?
Who else do the problems touch?
What are the problems?
How does the customer prioritise the problems?
What are the impacts of the problems?
Who else do the problems touch?
What are the problems?
How does the customer prioritise the problems?
What are the impacts of the problems?
Who else do the problems touch?
What are the problems?
How does the customer prioritise the problems?
What are the impacts of the problems?
Who else do the problems touch?
Why, why, why, …
Usually the further you dig, the bigger the problem gets (and the need for a solution intensifies…)
What happens if this problem isn’t fixed?
How bad would that be?
What might be the consequences?
Sometimes there aren’t numbers. In that case look for:
Qualitative indicators
Personal factors
What are the problems?
How does the customer prioritise the problems?
What are the impacts of the problems?
Who else do the problems touch?
When you talk to everybody involved, chances of success increase massively
No unknown voices or opinions
You have a broader view of the impacts
Very often the problems get bigger and are better defined
Your ability to influence increases hugely
When you’re done, summarise…
The problem
Why it’s a problem
What it’s impact is and the consequences of not fixing it
Who is involved
…and get agreement
If you start talking about your solutions too soon, you kill your credibility as a trusted advisor
You keep your solution to yourself until you understand everything there is to know about the customer’s problems
Only then can you match your solution precisely to what the customer needs
You’ve done everything right, but there isn’t a problem you can try to solve
Politely, walk. It’s amazing what happens next…
Asking great questions:
Proves you are the expert
Helps your customer define their problem and its impact
When you have helped define the problem, you’re in pole position to provide the solution
Listen
The customer will tell you everything you need to know, if you listen. When the customer does all the talking, they have a great meeting. If you do all the talking, you’re just another (probably annoying) salesperson.
Listen
The more they talk, the better the meeting
Two ears, one mouth
Use them in those proportions
They should talk (much) more than you
The more they talk, the better the meeting they have
The more they talk, the more your expert status is reinforced
Don’t interrupt or try to jump in…
When they finish talking, pause before you speak
It’s amazing how often they’ll add some critical information
Powerful face-to-face, awesome on the phone
Listened to and Understood
Don’t assume anything. Always check and confirm… ‘What does “xyz” mean to you?’
‘Can I summarise to make sure I’m understanding completely?’
When they do the talking, they have a great meeting
Clarify and confirm understanding
Value
What unique value does your solution offer the prospect? Everybody’s worried about price. Or they want to put it off to next month. Or they just don’t want to take any risks. This is all about killer tactics to get past price and delaying tactics.
Value
Problem > Feature > Benefit > Value
Value to the customer is everything
Their definition of value will be unique
Find out what they value, and then express how your solution delivers it
The whole point of the questions is to understand what they value
You only move to describing the solution when you really understand the specific value to that customer
You need to be able to make an explicit join between:
Problem
Feature
Benefit
Value to the customer
“From what we’ve discussed, it sounds to me like…”
You need to be warmer in the winter
This log burning stove kicks out over 20kW of heat
That’s enough to warm your entire house
It’ll save you €1,000 a year in comparison with the heaters you’re using now
The final part – the saving – is the kicker
Your solution has gone from being just
nice to have to an essential
great investment Will they buy it? You bet…
Value
What is the solution worth to them – and how does that relate to the price?
From your questioning, you should have a good idea of the cost and impact of the problem
If you haven’t, you haven’t asked enough questions yet!
Now’s the time to prove what a great deal this is
You know the impact and cost of the problem
You know the cost of the solution
So now you can show what a great investment your solution is – using your customer’s own figures!
“So from what you’re saying, it sounds like this is costing you… Have I got that right?”
“The solution is going to cost in the order of…”
“That sounds like a great investment to me. What do you think?”
Top Tip! Get the customer to work out the
return on investment
When it’s their figure, it’s much more credible than when its your figure
Value
What has value to them but little cost to you?
Even when the return is proved, it is very likely there will still be a price negotiation
When you know the customer’s problem, you have the ammunition to resist
Look for things they need, that you can supply at little or no cost
Delivery?
Training videos?
Advice?
These all become bargaining chips when the real price negotiation starts – provided you understand their value to the customer
Being specific about the financial value of your solution to the customer makes it compelling
Linking the cost of the problem to the price of the solution demonstrates value
Recognise valuable bargaining chips that will help the final price negotiation
Get commitment
Ask for the order in a balanced way. In the old days, you closed your customers, and dealt with their objections. That just doesn’t work today – customers are way too savvy for that. This is all about ideas that really work today to get commitment to go ahead – now.
Secret 8: Get commitment
Know when to ask – recognise where you are in the sales cycle
Leve
l of
inte
rest
Progress through sales cycle
Features and benefits
Price
All sales follow cycles
When you know where you are, you now what to do next
Leve
l of
inte
rest
Progress through sales cycle
Features and benefits
Price
There is an initial interest in price
The customer wants to know if there is value in talking or not
“Can we come back to that when I’ve got a better understanding of what you need?”
“We have a range of solutions that might be able to help you, but a the moment I’m not sure which to suggest”
“Our solutions range from x (quite low) to y (quite high). Can we spend a couple of minutes to find out what might be right for you?”
Leve
l of
inte
rest
Progress through sales cycle
Features and benefits
Price
As the discussion progresses, the customer is interested in features and benefits
Leve
l of
inte
rest
Progress through sales cycle
Features and benefits
Price
When the customer is ready to progress, attention turns back to price
Easy! When price comes back into discussion
Get commitment
Ask a balanced question
Very often the single biggest factor that makes a difference in making sales is
simply asking the customer to buy
It doesn’t have to be aggressive or
pushy, just matter of fact
The question must be balanced - OK for the customer to say ‘yes’ or ‘no’
When they don’t feel threatened or manipulated, you are more likely to get the right answer
Think this way – if it really makes sense, you’re helping your customer to get to the benefits
If you don’t ask, you don’t know
Don’t believe they’re “Thinking about
it”. They’re not
“From what we’ve talked about, does this sound like a good idea?”
“What would you like to have happen next?”
Ask the question, then
SHUT UP! The longer you keep quiet, the
better. The more you’ll learn. Only speak when you’re sure everything that’s in your prospect’s head has been said
A decision tells you what needs to happen next
You don’t want somebody “Thinking about it” or worse, “Very interested”
“No” is good. Providing you really understand why, and if it’s possible to make it “Yes”
You MUST ask the final question
Asking for a decision helps the customer
The only way to progress and get clarity is to ask
Secret 8: Get commitment
When negotiating – make the pie bigger
Sooner or later, the bargaining starts
Recognise bargaining means you’re in a good place
Just because somebody is bargaining doesn’t mean you have to give
If you’re going to negotiate with something, it has to have value to the buyer
Bland statements about great quality or amazing customer service are abstract and have no value
Your challenge – make the pie bigger You want to bring more factors to
the discussion other than price
Convenience, speed, and many other factors can have value
Be clear where you are
Be clear where you’re going
What are your objectives?
What are their objectives?
Always move towards your
objectives
Who are their people? Are they empowered to make decisions?
What is a start point where both sides agree?
How can your proposition look its most powerful?
What options ‘make the pie bigger’?
How can risks be minimised?
Listen more than you speak. Watch the body language
Take baby steps to commitment
You can only progress by talking
When you were asking questions, you were probably given all the ammunition you need
Price is not the only negotiation tool
You can only negotiate with things the customer values
Just because somebody asks doesn’t mean you have to give
When negotiating, always move towards your objective
In summary
1. Mindset 2. Knowledge 3. Planning 4. Rapport 5. Questions 6. Listen 7. Value 8. Get commitment
Mike McCormac - Sales and Business Success Guru
Mike McCormac is a recognised international expert in business growth and sales success.
Mike teaches a variety of business and sales topics in business schools and colleges internationally and has an MBA. His professional career spans several high-profile successful roles in sales, marketing and business leadership.
Mike has worked for some of the world’s largest corporations and won contracts up to one billion Euros in value. He has also worked with many small and medium sized businesses to create, train and implement effective business strategy, sales processes and sales skills to drive growth and success.
