entrepreneurial selling: 5 secrets to sales success
DESCRIPTION
The new Golden Rule in Sales is: "Give your customers the ability to do what they can’t currently do but would want to if they only knew it was possible." That means you need to lift your customers out of their status quo by challenging their thinking with business and industry insights. Think like an Entrepreneur and focus on the future and future business outcomes that your customers want to achieve. Entrepreneurs sell business outcomes. Entrepreneurial selling: 5 Secrets to Sales SuccessTRANSCRIPT
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5 Secrets to Sales Success
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What makes a Top
Performer in Sales?
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Rank in order of importance, the following
characteristics that make a Top Performer
in Sales?
• Creativity
• Tenacity
• Integrity
• Curiosity
• Passion
• Empathy
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1. Empathy
2. Integrity
3. Passion
4. Creativity
5. Tenacity
6. Curiosity
…to build rapport
…to build trust
…to build interest
…to build the right solution
…to close the deal
…to build understanding
Research found:
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Key Take Away
www.flickr.com/photos/jamesjordan/3026672665
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www.flickr.com/photos/caribb/4694032267
Question: What are you going
to do different starting today?
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824 September 2013
8
Old way
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9
New way
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Goal: avoid this
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SalesChannel Europe ©2013 All rights reserved 11
Era III Selling
www.executiveboard.com/sales-blog/files/2012/05/Sales-Eras
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SalesChannel Europe ©2013 All rights reserved 12
Problem Solving Lifecycle
source: www.corporatevisions.com
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SalesChannel Europe ©2013 All rights reserved 13
Marketing and Sales Alignment
source: www.corporatevisions.com
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Give your customers the ability
to do what they can’t currently
do but would want to if they only
knew it was possible.
The old Golden Rule in Sales was:
Find out what your customers
want, and give it to them.
The new Golden Rule in Sales is:
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www.flickr.com/photos/winemegup/3641912321
Get it right
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www.flickr.com/photos/roome/3390682853
Get it wrong
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Problemthe
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has ChangedThe World
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What do your customers want from you today?
Discussion question
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ww
w.f
lickr
.co
m/p
hoto
s/st
ephe
n_d
ow
nes/
3808
7145
05
The customer’s problem
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Your job
www.flickr.com/photos/77485110@N00/2431582475
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Guide them to the right solution
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OpportunityChange =
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“It is not the
strongest of the
species that survive,
nor the most
intelligent, but the
one most adaptable
to change.”
Charles Darwin12 February 1809 – 19 April 1882
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before youhave to change
Change
Rule of change
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Solutionthe
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SalesChannel Europe ©2013 All rights reserved
The Sales Cycle
27
Prospection Qualification Proposal CloseNegotiationNeeds
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Where do you spend most of
your time?
Discussion question
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SalesChannel Europe ©2013 All rights reserved
Who will have the better sales results over time?
29
Pierre
Pascal
Prospection Qualification Proposal CloseNegotiationNeeds
Prospection Qualification Proposal CloseNegotiationNeeds
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Creating Credibility and Trust1
The Psychology of Change2
Presenting to Win3
Asking Questions with Impact4
Prospecting with Purpose5
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SalesChannel Europe ©2013 All rights reserved
The Sales Cycle
3. Needs
1. Prospecting
4. Proposing
5. Negotiating
6. Closing
2. Qualifying
31
Asking Questions with Impact
Cre
dib
ility
an
d T
rust
The
Psy
cho
logy
of
Ch
ange
Presenting to Win
Prospecting with Purpose
1 2
3
4
5
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Creating Credibility and Trust1
The Psychology of Change2
Presenting to Win3
Asking Questions with Impact4
Prospecting with Purpose5
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Why do customers buy
from you?
Discussion question
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34
Building TrustWhy do people buy from you?
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35
Question: How do you become relevant?
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Go where they live
www.flickr.com/photos/abardwell/2722623053
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“No one cares how
much you know, until
they know how much
you care.”
Ralph Waldo Emerson
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SalesChannel Europe ©2013 All rights reserved
Selling at 3 Time Horizons
Closing Current Opportunities:• Winning Deals• Pitching to Win• Closing
Building Tomorrow’s Business:• Industry trends• Industry competitive
challenges• Collaborative strategy
Building the Pipeline:• Solutions to Customer
business challenges• Value Propositions• Account Sales Plan
Horizon 10 - 6 months
Horizon 26 - 12 months
Horizon 312 - 36 months
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SalesChannel Europe ©2013 All rights reserved
Business
Transformation
Operational
Excellence
Value
Cost
Price
Executive
Management
Operations
OrganisationThinking Time Horizon Drivers of change
BusinessDrivers
OperationalNeeds
Selling at 3 Time Horizons
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Creating Credibility and Trust1
The Psychology of Change2
Presenting to Win3
Asking Questions with Impact4
Prospecting with Purpose5
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Paint a compelling picture
www.flickr.com/photos/marcosreis07/2673223028
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SalesChannel Europe ©2013 All rights reserved
The Psychology of Change*
PositivePresent
Sustain
PositiveFuture
Attain
NegativePresent
Change
NegativeFuture
Avoid
Neg
ativ
ePo
siti
ve
Present Future
*Source: The Prime Solution by Jeff Thull, Dearborn © 2005
www.primeresource.com
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Creating Credibility and Trust1
The Psychology of Change2
Presenting to Win3
Asking Questions with Impact4
Prospecting with Purpose5
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SalesChannel Europe ©2013 All rights reserved
ABC (Me) Inc. Corporate Overview
1
• Established in 1945
• 13,051 employees world wide
• Offices in 42 countries
• Revenues $15.6B
• First vendor to launch GREAT technology in 1978
• Ranked #1 by IDG Market Study 2006
• Won the AGP Gold Quality Award in 2007
• We are the best. Smart people know this. You should to!
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SalesChannel Europe ©2013 All rights reserved 1
Us
OurPast
Them
Their Future
NOW
Audience Engagement
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The Power of
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Triplicate of choice
www.flickr.com/photos/xrrr/2321685873
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Help them to select the best offer
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A
C
Triplicate of choice
B
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A
C
X %
Y %
Triplicate of choice
✓B
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Creating Credibility and Trust1
The Psychology of Change2
Presenting to Win3
Asking Questions with Impact4
Prospecting with Purpose5
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www.mylawyer.net/Medical%20Malpractice%20Lawyer/Stethescope%20B&W.jpg
Diagnostic Questions
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Listen to your customers
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54
“Seek first to understand, then to be understood”
- Stephen R Covey
Building Trust
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Capture their Hearts and Minds
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Green or black questions?
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SalesChannel Europe ©2013 All rights reserved
White Questions
Green Questions
Black Questions
Red Questions
Asking Questions in Colour
Current situationFacts, data & informationwhite snow: pure, cold hard facts
Desired situationFuture stateGrass, trees, growth, can become
ObstaclesImportant, powerfulDark, night time, can’t see in the dark. Turn on the light to see what stands between current situation and desired situation.
FeelingsFire, explosive color, highly emotional-ve Red: “If Stan doesn’t do something he won’t make quota without help. Stan needs to talk to you.”+ve Red: “If Stan overachieves this year, he will probably be promoted to VP Sales
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“Why Change?” - Quantify the Pain
“Why Now?” - Justify the Gain
Two Critical Questions you must answer
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SalesChannel Europe ©2013 All rights reserved 60
DIS-Qualification
What's the Best Lead Qualification Question?
(10%)
(20%)
(69%)
A. Do you have the budget to buy my offering?
B. What's the priority for spending in this category?
C. How will you solve the problem if you don't buy?
Total Votes: 922
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Creating Credibility and Trust1
The Psychology of Change2
Presenting to Win3
Asking Questions with Impact4
Prospecting with Purpose5
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www.flickr.com/photos/isadocafe/2058393364
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The
Sales Formula
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Basically, it works like this
www.flickr.com/photos/atomicity/14570249
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The Sales Cycle
Prospection Qualification Proposal CloseNegotiation
Time
65
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66
P CRx SALES=
P = Number of prospects
CR = Conversion Ratio
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67
P CRx SALES=
10 33% (Typically 25%-50%)
Example 1
S = 3
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68
P CRx SALES=
10 40%
Example 2
S = 4*Requires considerable effort. Not easily sustainable
*
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69
P CRx SALES=
33%
Example 3
S = 6*Requires less effort. Is sustainable
20 *
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Typical Conversion Rates
1. Cold calling:
2. External Recommendation:
3. Internal Recommendation:
44%10 X Cold calling
Between 1-5% 4%
88%20 X Cold calling
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The Prospecting Mindset
Conventional Wisdom Unconventional Wisdom
ABC (Always Be Closing) ABP (Always be Prospecting)
C comes before P (Alphabet) P comes before C (Sales)
Top Performers are great closers Top Performers are great openers
Great closers Construction Workers
Winner develop their closing skills
Winners develop their Prospecting skills
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Future reality
http://vipmedia.globalnews.ca/2013/06/pipeline-spill.jpg?w=1024
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Systematic Prospecting
Prospecting with Purpose
No Prospecting
The Prospecting Mindset
Episodic Prospecting
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your Capacity
How can you
to Change?
Improve
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erentlyf
difthink
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Wishing for change
www.flickr.com/photos/superzelle/3853482206
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“Eighty percent
of success is
showing up.”- Woody Allen
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Focus all your efforts on how clients think
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Bring about the possible
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Do-it-yourself thinking
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It’s all about YOU!
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8224 September
2013
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What did sales winners do?* 1. Educated me with new ideas or perspectives2. Collaborated with me3. Persuaded me we would achieve results4. Listened to me5. Understood my needs6. Helped me avoid potential pitfalls7. Crafted a compelling solution8. Depicted purchasing process accurately9. Connected with me personally10. Overall value from the company is superior to other
options*What Sales Winners Do Differently, RAIN Group, 2013
Sales Transformation
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Key Take Away
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1. Sell Business Outcomes, not
Technology
3 Takeaways:
3. Great Salespeople (You) are
Entrepreneurs and Agents of
Change
2. Challenge your Customers to
see a different / better future
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Get it right
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David R EdniePresident & CEO
SalesChannel EuropePh: +33 676 60 09 25 (FRA)
Email: [email protected]: www.saleschannel-europe.com
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8924 September
2013