entrepreneurial selling: 5 secrets to sales success

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5 Secrets to Sales Success

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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 Success

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Page 1: Entrepreneurial Selling: 5 Secrets to Sales Success

5 Secrets to Sales Success

Page 2: Entrepreneurial Selling: 5 Secrets to Sales Success

What makes a Top

Performer in Sales?

Page 3: Entrepreneurial Selling: 5 Secrets to Sales Success

Rank in order of importance, the following

characteristics that make a Top Performer

in Sales?

• Creativity

• Tenacity

• Integrity

• Curiosity

• Passion

• Empathy

Page 4: Entrepreneurial Selling: 5 Secrets to Sales Success

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:

Page 5: Entrepreneurial Selling: 5 Secrets to Sales Success

Key Take Away

www.flickr.com/photos/jamesjordan/3026672665

Page 6: Entrepreneurial Selling: 5 Secrets to Sales Success
Page 7: Entrepreneurial Selling: 5 Secrets to Sales Success

www.flickr.com/photos/caribb/4694032267

Question: What are you going

to do different starting today?

Page 8: Entrepreneurial Selling: 5 Secrets to Sales Success

824 September 2013

8

Old way

Page 9: Entrepreneurial Selling: 5 Secrets to Sales Success

9

New way

Page 10: Entrepreneurial Selling: 5 Secrets to Sales Success

Goal: avoid this

Page 11: Entrepreneurial Selling: 5 Secrets to Sales Success

SalesChannel Europe ©2013 All rights reserved 11

Era III Selling

www.executiveboard.com/sales-blog/files/2012/05/Sales-Eras

Page 12: Entrepreneurial Selling: 5 Secrets to Sales Success

SalesChannel Europe ©2013 All rights reserved 12

Problem Solving Lifecycle

source: www.corporatevisions.com

Page 13: Entrepreneurial Selling: 5 Secrets to Sales Success

SalesChannel Europe ©2013 All rights reserved 13

Marketing and Sales Alignment

source: www.corporatevisions.com

Page 14: Entrepreneurial Selling: 5 Secrets to Sales Success

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:

Page 15: Entrepreneurial Selling: 5 Secrets to Sales Success

www.flickr.com/photos/winemegup/3641912321

Get it right

Page 16: Entrepreneurial Selling: 5 Secrets to Sales Success

www.flickr.com/photos/roome/3390682853

Get it wrong

Page 17: Entrepreneurial Selling: 5 Secrets to Sales Success

Problemthe

Page 18: Entrepreneurial Selling: 5 Secrets to Sales Success

has ChangedThe World

Page 19: Entrepreneurial Selling: 5 Secrets to Sales Success

What do your customers want from you today?

Discussion question

Page 20: Entrepreneurial Selling: 5 Secrets to Sales Success

ww

w.f

lickr

.co

m/p

hoto

s/st

ephe

n_d

ow

nes/

3808

7145

05

The customer’s problem

Page 21: Entrepreneurial Selling: 5 Secrets to Sales Success

Your job

www.flickr.com/photos/77485110@N00/2431582475

Page 22: Entrepreneurial Selling: 5 Secrets to Sales Success

Guide them to the right solution

Page 23: Entrepreneurial Selling: 5 Secrets to Sales Success

OpportunityChange =

Page 24: Entrepreneurial Selling: 5 Secrets to Sales Success

“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

Page 25: Entrepreneurial Selling: 5 Secrets to Sales Success

before youhave to change

Change

Rule of change

Page 26: Entrepreneurial Selling: 5 Secrets to Sales Success

Solutionthe

Page 27: Entrepreneurial Selling: 5 Secrets to Sales Success

SalesChannel Europe ©2013 All rights reserved

The Sales Cycle

27

Prospection Qualification Proposal CloseNegotiationNeeds

Page 28: Entrepreneurial Selling: 5 Secrets to Sales Success

Where do you spend most of

your time?

Discussion question

Page 29: Entrepreneurial Selling: 5 Secrets to Sales Success

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

Page 30: Entrepreneurial Selling: 5 Secrets to Sales Success

Creating Credibility and Trust1

The Psychology of Change2

Presenting to Win3

Asking Questions with Impact4

Prospecting with Purpose5

Page 31: Entrepreneurial Selling: 5 Secrets to Sales Success

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

Page 32: Entrepreneurial Selling: 5 Secrets to Sales Success

Creating Credibility and Trust1

The Psychology of Change2

Presenting to Win3

Asking Questions with Impact4

Prospecting with Purpose5

Page 33: Entrepreneurial Selling: 5 Secrets to Sales Success

Why do customers buy

from you?

Discussion question

Page 34: Entrepreneurial Selling: 5 Secrets to Sales Success

34

Building TrustWhy do people buy from you?

Page 35: Entrepreneurial Selling: 5 Secrets to Sales Success

35

Question: How do you become relevant?

Page 36: Entrepreneurial Selling: 5 Secrets to Sales Success

Go where they live

www.flickr.com/photos/abardwell/2722623053

Page 37: Entrepreneurial Selling: 5 Secrets to Sales Success

“No one cares how

much you know, until

they know how much

you care.”

Ralph Waldo Emerson

Page 38: Entrepreneurial Selling: 5 Secrets to Sales Success

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

Page 39: Entrepreneurial Selling: 5 Secrets to Sales Success

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

Page 40: Entrepreneurial Selling: 5 Secrets to Sales Success

Creating Credibility and Trust1

The Psychology of Change2

Presenting to Win3

Asking Questions with Impact4

Prospecting with Purpose5

Page 41: Entrepreneurial Selling: 5 Secrets to Sales Success

Paint a compelling picture

www.flickr.com/photos/marcosreis07/2673223028

Page 42: Entrepreneurial Selling: 5 Secrets to Sales Success

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

Page 43: Entrepreneurial Selling: 5 Secrets to Sales Success

Creating Credibility and Trust1

The Psychology of Change2

Presenting to Win3

Asking Questions with Impact4

Prospecting with Purpose5

Page 44: Entrepreneurial Selling: 5 Secrets to Sales Success

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!

Page 45: Entrepreneurial Selling: 5 Secrets to Sales Success

SalesChannel Europe ©2013 All rights reserved 1

Us

OurPast

Them

Their Future

NOW

Audience Engagement

Page 46: Entrepreneurial Selling: 5 Secrets to Sales Success

The Power of

Page 47: Entrepreneurial Selling: 5 Secrets to Sales Success

Triplicate of choice

www.flickr.com/photos/xrrr/2321685873

Page 48: Entrepreneurial Selling: 5 Secrets to Sales Success

Help them to select the best offer

Page 49: Entrepreneurial Selling: 5 Secrets to Sales Success

A

C

Triplicate of choice

B

Page 50: Entrepreneurial Selling: 5 Secrets to Sales Success

A

C

X %

Y %

Triplicate of choice

✓B

Page 51: Entrepreneurial Selling: 5 Secrets to Sales Success

Creating Credibility and Trust1

The Psychology of Change2

Presenting to Win3

Asking Questions with Impact4

Prospecting with Purpose5

Page 52: Entrepreneurial Selling: 5 Secrets to Sales Success

www.mylawyer.net/Medical%20Malpractice%20Lawyer/Stethescope%20B&W.jpg

Diagnostic Questions

Page 53: Entrepreneurial Selling: 5 Secrets to Sales Success

Listen to your customers

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54

“Seek first to understand, then to be understood”

- Stephen R Covey

Building Trust

Page 55: Entrepreneurial Selling: 5 Secrets to Sales Success

Capture their Hearts and Minds

Page 56: Entrepreneurial Selling: 5 Secrets to Sales Success
Page 57: Entrepreneurial Selling: 5 Secrets to Sales Success

Green or black questions?

Page 58: Entrepreneurial Selling: 5 Secrets to Sales Success

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

Page 59: Entrepreneurial Selling: 5 Secrets to Sales Success

“Why Change?” - Quantify the Pain

“Why Now?” - Justify the Gain

Two Critical Questions you must answer

Page 60: Entrepreneurial Selling: 5 Secrets to Sales Success

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

Page 61: Entrepreneurial Selling: 5 Secrets to Sales Success

Creating Credibility and Trust1

The Psychology of Change2

Presenting to Win3

Asking Questions with Impact4

Prospecting with Purpose5

Page 62: Entrepreneurial Selling: 5 Secrets to Sales Success

www.flickr.com/photos/isadocafe/2058393364

Page 63: Entrepreneurial Selling: 5 Secrets to Sales Success

The

Sales Formula

Page 64: Entrepreneurial Selling: 5 Secrets to Sales Success

Basically, it works like this

www.flickr.com/photos/atomicity/14570249

Page 65: Entrepreneurial Selling: 5 Secrets to Sales Success

SalesChannel Europe ©2013 All rights reserved

The Sales Cycle

Prospection Qualification Proposal CloseNegotiation

Time

65

Page 66: Entrepreneurial Selling: 5 Secrets to Sales Success

66

P CRx SALES=

P = Number of prospects

CR = Conversion Ratio

Page 67: Entrepreneurial Selling: 5 Secrets to Sales Success

67

P CRx SALES=

10 33% (Typically 25%-50%)

Example 1

S = 3

Page 68: Entrepreneurial Selling: 5 Secrets to Sales Success

68

P CRx SALES=

10 40%

Example 2

S = 4*Requires considerable effort. Not easily sustainable

*

Page 69: Entrepreneurial Selling: 5 Secrets to Sales Success

69

P CRx SALES=

33%

Example 3

S = 6*Requires less effort. Is sustainable

20 *

Page 70: Entrepreneurial Selling: 5 Secrets to Sales Success

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

Page 71: Entrepreneurial Selling: 5 Secrets to Sales Success

SalesChannel Europe ©2013 All rights reserved

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

Page 72: Entrepreneurial Selling: 5 Secrets to Sales Success

Future reality

http://vipmedia.globalnews.ca/2013/06/pipeline-spill.jpg?w=1024

Page 73: Entrepreneurial Selling: 5 Secrets to Sales Success

SalesChannel Europe ©2013 All rights reserved

Systematic Prospecting

Prospecting with Purpose

No Prospecting

The Prospecting Mindset

Episodic Prospecting

Page 74: Entrepreneurial Selling: 5 Secrets to Sales Success

your Capacity

How can you

to Change?

Improve

Page 75: Entrepreneurial Selling: 5 Secrets to Sales Success

erentlyf

difthink

Page 76: Entrepreneurial Selling: 5 Secrets to Sales Success

Wishing for change

www.flickr.com/photos/superzelle/3853482206

Page 77: Entrepreneurial Selling: 5 Secrets to Sales Success

“Eighty percent

of success is

showing up.”- Woody Allen

Page 78: Entrepreneurial Selling: 5 Secrets to Sales Success

Focus all your efforts on how clients think

www.flickr.com/photos/yanivg/418470817

Page 79: Entrepreneurial Selling: 5 Secrets to Sales Success

Bring about the possible

Page 80: Entrepreneurial Selling: 5 Secrets to Sales Success

Do-it-yourself thinking

www.flickr.com/photos/av8pix/3661136241

Page 81: Entrepreneurial Selling: 5 Secrets to Sales Success

www.flickr.com/photos/maestropastelero/258000448

It’s all about YOU!

Page 82: Entrepreneurial Selling: 5 Secrets to Sales Success

8224 September

2013

Page 83: Entrepreneurial Selling: 5 Secrets to Sales Success

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

Page 84: Entrepreneurial Selling: 5 Secrets to Sales Success

Key Take Away

www.flickr.com/photos/jamesjordan/3026672665

Page 85: Entrepreneurial Selling: 5 Secrets to Sales Success

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

Page 86: Entrepreneurial Selling: 5 Secrets to Sales Success

www.flickr.com/photos/winemegup/3641912321

Get it right

Page 87: Entrepreneurial Selling: 5 Secrets to Sales Success

www.flickr.com/photos/horacio/3781750

Page 88: Entrepreneurial Selling: 5 Secrets to Sales Success

www.flickr.com/photos/horacio/3781750

David R EdniePresident & CEO

SalesChannel EuropePh: +33 676 60 09 25 (FRA)

Email: [email protected]: www.saleschannel-europe.com

Page 89: Entrepreneurial Selling: 5 Secrets to Sales Success

8924 September

2013