Are you Using All Resources to Build

Your Pipeline?

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Drew Stevens, Ph.D.Stevens Consulting Group

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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

Prepared By:Drew Stevens, Ph.D.

Stevens Consulting Group

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Are you Using All Resources to Build Your Pipeline?Drew Stevens PhD

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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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Notes