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Are you Using All Resources to Build
Your Pipeline?
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mail: P.O. Box 509 Eau Claire, WI 54702-0509 • telephone: 866-352-9539 • fax: 715-833-3953email: customerservice@lorman.com • website: www.lorman.com • seminar id: 400134
Drew Stevens, Ph.D.Stevens Consulting Group
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mail: P.O. Box 509 Eau Claire, WI 54702-0509 • telephone: 866-352-9539 • fax: 715-833-3953email: customerservice@lorman.com • website: www.lorman.com • seminar id: 400134
Prepared By:Drew Stevens, Ph.D.
Stevens Consulting Group
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DREW J STEVENS
31 Years of Experience in Sales Leadership and Customer Service
Clients Include BJC Hospital, Morgan Stanley, Travelocity, United Moving and Storage
Author of 8 Books Including Customer Momentum, Split Second Selling, Selling – The New Norm
Blogger/Podcaster – 6000 posts and 2500 podcasts
Found of the Sales Institute at Maryville University
Media Consultant CNN, ABC, NBC
Why this topic, Why now Over one trillion (that’s a 1 followed by twelve zeros)
is spent annually on sales forces.
A world class sales benchmarking study revealed that the calibre of the salesperson, in a B2B environment, is the most important factor influencing prospects’ decisions to buy.
In many companies, 20% of the sales force delivers 80% of the revenue. This means that hiring talented sales people is essentially a random event. Tossing a coin would be as effective.
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Why this topic, Why now Sales closing efficiency is an issue
Economy is not as wonderful as everyone is led to believe
Sales Pipelines are not meeting that actual sales forecasts.
What is a Sales Pipline? A sales pipeline describes an approach to selling,
founded on the underlying principles of the sales process. It describes the individual steps salespeople take initial conversation with a person and then taking them on a pathway to a potential sale. Contact
Suspect
Lead
Prospect
Client
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Determine the Value of a Pipeline and Its Relevance to Business Pipeline value is the aggregate value of all the
active opportunities at each stage in the sales pipeline.
Pipeline is equivalent to all the possible contacts and possible deals in the system.
The Pipeline is the actual work conducted by the sales staff.
Determine the Value of a Pipeline and Its Relevance to Business Myth
Large Territories
Developed by CEO and CFO
Developed by the CRO or Sales manager
Sales
Close Rate
Quota
Formula = Sales quota ÷ close rate = the perfect pipeline size
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Stuck Pipeline? Who Is on the Other Side of the Negotiation Table? Case Study - ABC Travel Company
Four People in Every Sales Transaction Gatekeeper
Coach
Recommender
Decision Maker
Stuck Pipeline? Who Is on the Other Side of the Negotiation Table? Identify the Issue
What is slowing the process Sales
Consumer Is is the right person
Is the selling professional qualified?
Are your salespeople wasting valuable time and energy on prospects because they are not the D(E)M?
Too Many Decision Makers?
Too Much Bureacracy?
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Stuck Pipeline? Who Is on the Other Side of the Negotiation Table? What is the follow up procedure?
90 minutes
Are prospects dragging feet?
Is the selling professional capable of asking the question?
Stages of the Sales Pipeline for Your Business – Measuring Success1. Lead generation through marketing or Cold Call
2. Lead nurturing – Calling and Conversation
3. Marketing qualified lead – Conversation to determine suspect or not
4. Sales accepted lead – Conversations and Information
5. Sales qualified lead – Demonstration and Conceptual Agreement
6. Closed deal – Conceptual Agreement, Proposal and Check
7. Post-sale
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1. Lead generation
2. Lead nurturing
3. Marketing qualified lead
4. Sales accepted lead
5. Sales qualified lead
6. Closed deal
7. Post-sale
1. Attention
2. Interest
3. Conversation
4. Conviction
5. Conceptual Agreement
6. Proposal
7. Check – Customer Retention
Resources to Make You and Your Team Think Like a Rock Star Too many in marketing today sound just like their
competitor. There is no distinction and nothing that separates them from the competitor. Unless you're sounding differently or doing something differently no one will notice.
Lady Gaga
Elton John
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Resources to Make You and Your Team Think Like a Rock Star I recall a great quote from a mentor, Alan Weiss
Seminar - “Language controls discussion, discussion controls the relationship, and relationship controls the business.”
Resources to Make You and Your Team Think Like a Rock Star Marketing Gravity
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The Value of Customer Service in Pipeline Management Case Study – Brief Case Research shows that 55% of consumers are willing to pay
more for a guaranteed good experience. Kolsky points out the word ‘guaranteed’, noting customers are no longer satisfied with just being promised a good experience.
86% of consumers are willing to pay more for an upgraded experience. Air travel and hospitality are examples where upselling better experiences can generate incremental revenue and bolster customer loyalty.
The Value of Customer Service in Pipeline Management Customer Support Directly Affects Retention – i.e. Google
Good Service Helps Conversion – Avatars/ Reputation i.e. Fit Bit
No Coming Back From Bad Service i.e. Circuit City
Company Reputation i.e. Apple
Good Service = New Clients = No Advertising i.e. Zappos
Good Service Good Value i.e. Nordstom’s
Happy Customers Spend More i.e. Fed Ex / Apple
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Does Social Marketing Help Pipeline Management “Last year, 68% of Americans using social networks said
that none of those networks had an influence on their buying decisions. This year, only 36% said that there was no influence. Now, 47% say Facebook has the greatest impact on purchase behavior (up from 24% in 2011). Incidentally, Twitter dramatically underperforms in this category at 5%.”(Qualman 2012) Social media today has taken over many of the nuances of the Internet allowing others to communicate without barriers of any kind.
Does Social Marketing Help Pipeline Management Social Media does assist in creating community
since it allows an electronic flow of communication from one to many individuals seeking services such as yours.
Social Media does require some degree of focus. While there may be limited control there is no reason to build pages on Twitter, Facebook or any media where your clients are not located.
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Does Social Marketing Help Pipeline Management Do invest time in social media only if you
understand that your core market is engaged there.
Do not waste hours on social media. Only 15 to 20 minutes three to five times a week is more than enough.
Do post provocative content that engages with the community. You want interaction and conversation.
It's All About the NumbersStreamlined Pipeline ManagementCompany Confidential
Instructions: Enter data into the white and yellow cells only.Account
NamePipeline
Stage Product Contact Contact PhoneForecast
ClosePotential
OpportunityChanceof Sale
WeightedForecast
WeightedForecast
Q2 WeightedForecast
Q3 WeightedForecast
Q4 WeightedForecast
100% -$ -$ -$ -$ -$ 100% -$ -$ -$ -$ -$ -100% -$ -$ -$ -$ -$ -100% -$ -$ -$ -$ -$
80% -$ -$ -$ -$ -$ 50% -$ -$ -$ -$ -$
100% -$ -$ -$ -$ -$ ` -100% -$ -$ -$ -$ -$
-100% -$ -$ -$ -$ -$ -100% -$ -$ -$ -$ -$ -100% -$ -$ -$ -$ -$ -100% -$ -$ -$ -$ -$ -100% -$ -$ -$ -$ -$ -100% -$ -$ -$ -$ -$ -100% -$ -$ -$ -$ -$ -100% -$ -$ -$ -$ -$ -100% -$ -$ -$ -$ -$ -100% -$ -$ -$ -$ -$ -100% -$ -$ -$ -$ -$ -100% -$ -$ -$ -$ -$ -100% -$ -$ -$ -$ -$ -100% -$ -$ -$ -$ -$
TOTAL -$ -$ -$ -$ -$ -$
-$ -$ -$ -$
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Best Practices Best Players Best Positions
Constant Communication
Weekly Reports
Coaching and Mentoring
Sales must speak to Decision Makers
Drew@drew-stevens.com
636-938-4486
www.drew-stevens.com
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