So where does a prospect’s buying process and the continued emergence of the internet and social media leave your sales process? What is your sales process? Do you have one? If you’re a sales leader, are your people following one?
For our generic prospect buying process, allow me to suggest a sales process to match it. The proposed sales process is highlighted in bold.
1. Unaware of any need and blissful.
a. Develop strong interest-gaining statements
b. Find and execute on effective lead generation programs
i. Webinars
ii. Lunch and learns etc.
iii. Social media, social media!!
2. Starts to realize a problem or challenge.
a. Engage in real discovery
i. Probe and listen, probe and listen
ii. Probe in a way that is not offensive or overwhelming for the prospect
iii. Gather as many stakeholders as possible – KEY!
iv. For b2b, make it personal, make it face-to-face
3. Determines a need and begins to evaluate solutions.
a. Gain an understanding of the following:
i. Compelling business reason to buy/change
ii. Decision-making process
1. Players and roles in the process
2. Solidify your internal Coach
iii. Competitive landscape
iv. Budget (ok if it’s not there –it’s your job to create it!)
4. Performs research on potential solutions.
i. Start to “lay traps” for your competitors
ii. Begin to match your features to the client’s needs and begin to build the benefits of buying your product/service
iii. Provide more case studies
5. Interviews potential providers.
a. Craft and present your solution
i. The more company resources with you, the better
1. Bring a SME or sales engineer on this and/or step 3-5. Mandatory on this call
ii. Proposal and presentation first impressions are key (more on that later)
6. Makes a selection.
a. Bring in negotiation experts, i.e. procurement, in the background. Leave the boss at home but keep him/her informed
b. Craft and implement a negotiation strategy with internal management
c. Present a final pricing model
d. If proposed pricing is originally rejected, perform a “give-take”…i.e. “If I could …….then would you…….”
e. Escalate internally as required
7. Finalizes contracts.
a. Work with the delivery team to ensure a complete and satisfactory delivery of product/services.
i. Introduce the new client to the delivery team
ii. Be there when product/service is delivered
iii. Follow up after delivery
So now that you’ve mapped your sales process to the prospect’s buying process, do you feel more comfortable? Can you see that it will result in more predictable and successful results? Not only will you have better results, but you will have a much more satisfied client on the other end of this sale, one who is likely to buy from you again. Have you ever bought from a salesperson even though you despised their approach, only because you found a need for his/her product? I have. But I never went back again.
Friday, January 29, 2010
Thursday, January 28, 2010
Buying Process and the Internet
I remember holding a quota for internet access in the b2b space in the mid 90’s. No one would buy it. “Don’t want to destroy employee productivity” is all I heard. Wow. That was not very long ago.
We are now experiencing the advent of social media over the internet. Twitter, FaceBook and LinkedIn, amongst many other sites, proliferate the sharing of information amongst the masses. The “word is out” and you and your company better be paying attention!
So when we examine this change in technology and social behavior, how does this affect your sales process? Let’s remember the prospect’s buying process:
1. Unaware of any need and blissful.
2. Starts to realize a problem or challenge.
3. Determines a need and begins to evaluate solutions.
4. Performs research on potential solutions. Interviews potential providers.
5. Makes a selection.
6. Finalizes contracts.
At Step 1, you can use social media to create a need. Social media can be used to bring prospects “out of their office” to engage with you over webinars, test drives, pilots, lunch and learns, etc. Post your event at your favorite social media site, and watch them show up. In a recent assignment, after deploying social media concepts, 30% of our attendees to an existing webinar schedule were new prospects for my company. Social media, in this view, is the best way to move a prospect from Step 1 to Step 2.
CHALLENGE: Do you or your company have a “Social Media Guidelines Policy”? If not, you should. Your brand and reputation are at stake. Your image no longer goes out to the public through your marketing department and your cold calls. Anyone can write anything on the internet. Be careful! Also, do you know the social media sites where your prospects gather? You should. Go find them there and get to know them. DON’T make sales pitches!
At Steps 2-4, your prospect’s knowledge is fed by the internet. They are smart when you engage with them at this stage. How smart are you? Do you know your competitors cold? What is the name of the competitor’s sales representative on your account? Do you know and understand the business challenges before your prospect and his/her’s company? Are you following your competitor on Twitter? Use the internet and social media to your own advantage. Be smarter than your prospect and your competitor!!
HUMOR: I’ve used SurveyMonkey, a wonderful tool, to survey clients and prospects. It’s a great way to use the internet to understand the prospect’s buying behavior. And it generates leads. In one campaign we wanted to better understand the motivation behind buying for themselves or for their organization. We wanted to find our way to the decision-maker for bringing our services onsite, rather than serve the individual. So we asked the question, “Would you prefer individual or group training?” Several responses came back similar to, “I prefer group training because I don’t want to learn by myself.” Ugh! Of course! Be careful in how you word your survey questions!
We are now experiencing the advent of social media over the internet. Twitter, FaceBook and LinkedIn, amongst many other sites, proliferate the sharing of information amongst the masses. The “word is out” and you and your company better be paying attention!
So when we examine this change in technology and social behavior, how does this affect your sales process? Let’s remember the prospect’s buying process:
1. Unaware of any need and blissful.
2. Starts to realize a problem or challenge.
3. Determines a need and begins to evaluate solutions.
4. Performs research on potential solutions. Interviews potential providers.
5. Makes a selection.
6. Finalizes contracts.
At Step 1, you can use social media to create a need. Social media can be used to bring prospects “out of their office” to engage with you over webinars, test drives, pilots, lunch and learns, etc. Post your event at your favorite social media site, and watch them show up. In a recent assignment, after deploying social media concepts, 30% of our attendees to an existing webinar schedule were new prospects for my company. Social media, in this view, is the best way to move a prospect from Step 1 to Step 2.
CHALLENGE: Do you or your company have a “Social Media Guidelines Policy”? If not, you should. Your brand and reputation are at stake. Your image no longer goes out to the public through your marketing department and your cold calls. Anyone can write anything on the internet. Be careful! Also, do you know the social media sites where your prospects gather? You should. Go find them there and get to know them. DON’T make sales pitches!
At Steps 2-4, your prospect’s knowledge is fed by the internet. They are smart when you engage with them at this stage. How smart are you? Do you know your competitors cold? What is the name of the competitor’s sales representative on your account? Do you know and understand the business challenges before your prospect and his/her’s company? Are you following your competitor on Twitter? Use the internet and social media to your own advantage. Be smarter than your prospect and your competitor!!
HUMOR: I’ve used SurveyMonkey, a wonderful tool, to survey clients and prospects. It’s a great way to use the internet to understand the prospect’s buying behavior. And it generates leads. In one campaign we wanted to better understand the motivation behind buying for themselves or for their organization. We wanted to find our way to the decision-maker for bringing our services onsite, rather than serve the individual. So we asked the question, “Would you prefer individual or group training?” Several responses came back similar to, “I prefer group training because I don’t want to learn by myself.” Ugh! Of course! Be careful in how you word your survey questions!
Wednesday, January 27, 2010
What is Your Prospect Thinking When?
So let’s see how the customer buying process comes together against your sales process, given the advent of the internet and social media.
You must keep your customer buying process at the forefront of your mind before every action you take with your prospect! We’re using this customer buying process:
1. Unaware of any need and blissful.
2. Starts to realize a problem or challenge.
3. Determines a need and begins to evaluate solutions.
4. Performs research on potential solutions. Interviews potential providers.
5. Makes a selection.
6. Finalizes contracts.
I cannot tell you how many times in my career I’ve seen the average sales pro launch a tactic that’s meant for Step X and they are at Step Y. The most common tactic is a “feature dump” of products/services at steps 1-2. As they say in the world of texting, “ohmigod”!! There is no way a prospect at the early stage of their buying process will listen to that. A better tactic might be to show them how you’ve helped other clients in their industry with potentially similar challenges, without one mention of your product/service.
Challenge: If you can get through an entire sale process without ever mentioning one feature of your product, you are the consummate sales pro and you deserve a raise and higher commissions! You are a Solution Seller!
Here’s another mis-applied tactic at the wrong time. We might tend to reference our competitors during Steps 1-3. “Lay traps” as I like to call it. The prospect isn’t even thinking about potential solutions and competitors yet! You’re done. Take a long walk off a short pier!
If you don’t “dance” with your prospect and follow their lead while they move through their buying process, you’ll be left on the dance floor all alone. Your challenge is to address the prospect’s need at every step. If they are at Step 2, help them see what a solution to their challenge will accomplish for them and their organization. If they are at Step 4, take your competition out by “laying traps” at Step 3 (more on “laying traps” later).
Now, what about the internet? While the buying process has not changed and never will, in my view, because it is human nature, certain tools like the internet will alter your prescribed tactics in order to align best with that customer buying process. Consider the following:
1. The internet is an incredible research tool that educates the prospect – remember, “Knowledge is power”!
2. Internet tools such as email, WebEx, GoToMeeting etc. take the face-to-face element from our prospect interaction. If you’re outside sales, this can be a real challenge. (See the last paragraph for a humorous anecdote on “outside sales”!)
3. Social media “spreads the word” like nothing in our history - we’ve come a long way since Paul Revere, eh?!
So what does this mean for you and your organization? A lot! You’d better be changing your sales process and tactics to meet these developments. Let’s talk more on that tomorrow.
Humorous Anecdote: I once interviewed a sales candidate for an outside sales position. He told me he wanted to be in “Outdoor Sales”! I tried to qualify his answer several times, and each time he came back with “yes, Outdoor Sales”. Hmmmmm………problem is, we weren’t selling golf carts, landscaping or shrubs.
You must keep your customer buying process at the forefront of your mind before every action you take with your prospect! We’re using this customer buying process:
1. Unaware of any need and blissful.
2. Starts to realize a problem or challenge.
3. Determines a need and begins to evaluate solutions.
4. Performs research on potential solutions. Interviews potential providers.
5. Makes a selection.
6. Finalizes contracts.
I cannot tell you how many times in my career I’ve seen the average sales pro launch a tactic that’s meant for Step X and they are at Step Y. The most common tactic is a “feature dump” of products/services at steps 1-2. As they say in the world of texting, “ohmigod”!! There is no way a prospect at the early stage of their buying process will listen to that. A better tactic might be to show them how you’ve helped other clients in their industry with potentially similar challenges, without one mention of your product/service.
Challenge: If you can get through an entire sale process without ever mentioning one feature of your product, you are the consummate sales pro and you deserve a raise and higher commissions! You are a Solution Seller!
Here’s another mis-applied tactic at the wrong time. We might tend to reference our competitors during Steps 1-3. “Lay traps” as I like to call it. The prospect isn’t even thinking about potential solutions and competitors yet! You’re done. Take a long walk off a short pier!
If you don’t “dance” with your prospect and follow their lead while they move through their buying process, you’ll be left on the dance floor all alone. Your challenge is to address the prospect’s need at every step. If they are at Step 2, help them see what a solution to their challenge will accomplish for them and their organization. If they are at Step 4, take your competition out by “laying traps” at Step 3 (more on “laying traps” later).
Now, what about the internet? While the buying process has not changed and never will, in my view, because it is human nature, certain tools like the internet will alter your prescribed tactics in order to align best with that customer buying process. Consider the following:
1. The internet is an incredible research tool that educates the prospect – remember, “Knowledge is power”!
2. Internet tools such as email, WebEx, GoToMeeting etc. take the face-to-face element from our prospect interaction. If you’re outside sales, this can be a real challenge. (See the last paragraph for a humorous anecdote on “outside sales”!)
3. Social media “spreads the word” like nothing in our history - we’ve come a long way since Paul Revere, eh?!
So what does this mean for you and your organization? A lot! You’d better be changing your sales process and tactics to meet these developments. Let’s talk more on that tomorrow.
Humorous Anecdote: I once interviewed a sales candidate for an outside sales position. He told me he wanted to be in “Outdoor Sales”! I tried to qualify his answer several times, and each time he came back with “yes, Outdoor Sales”. Hmmmmm………problem is, we weren’t selling golf carts, landscaping or shrubs.
Friday, January 22, 2010
Finding a Coach
Tough work, finding the coach while prospecting. No doubt about it. Where do you start? How would you ever know?
No magic answers, but I have one suggestion. If you're a b2b entity engaged in complex sales situations, i.e. multiple decision-makers where a coach is absolutely required hire a "coach finder"! The "coach finder", also known as appointment-generator or lead-qualifier, does the heavy lifting required to gain interest, build a relationship AND survey the decision-making landscape for a potential coach before setting the appointment. Appointment setting efforts that employ a specific role to do so often fail because the appointment-setter does not satisfy all three of these requirements:
1. Gain interest
2. Build a relationship
3. Survey the decision-making landscape for a coach
Once this is accomplished, your highly paid outside sales resource will have a much shorter sales cycle and will be employed where most effective. In a recent assignment, I employed this model to improve my pipeline and results by 30%. Try it!
Finding the coach while engaged with the client is much easier. Get face to face with ALL of the stakeholders - don't settle for one-on-one meetings. You want to meet with everyone! "Why?", asks the gate-keeper? Because unless you meet with all the stakeholders, you won't gain all of the requirements and the proposed solution will be less effective and the client will have over-paid. Works almost every time.
Now that you are in front of each stakeholder, watch their verbal language, body language and interaction with one another. You'll see clearly who the lead decision-maker is, who has influence with him/her and where you can build a relationship. Bring your manager with you on this all-important call. Two sets of eyes watching the prospect will always yield better results.
Sorry to throw another football analogy out there, but ever notice that coaches who have little influence with their ownership seldom win? They were never coaches to begin with. Make sure you find the right coach!!
No magic answers, but I have one suggestion. If you're a b2b entity engaged in complex sales situations, i.e. multiple decision-makers where a coach is absolutely required hire a "coach finder"! The "coach finder", also known as appointment-generator or lead-qualifier, does the heavy lifting required to gain interest, build a relationship AND survey the decision-making landscape for a potential coach before setting the appointment. Appointment setting efforts that employ a specific role to do so often fail because the appointment-setter does not satisfy all three of these requirements:
1. Gain interest
2. Build a relationship
3. Survey the decision-making landscape for a coach
Once this is accomplished, your highly paid outside sales resource will have a much shorter sales cycle and will be employed where most effective. In a recent assignment, I employed this model to improve my pipeline and results by 30%. Try it!
Finding the coach while engaged with the client is much easier. Get face to face with ALL of the stakeholders - don't settle for one-on-one meetings. You want to meet with everyone! "Why?", asks the gate-keeper? Because unless you meet with all the stakeholders, you won't gain all of the requirements and the proposed solution will be less effective and the client will have over-paid. Works almost every time.
Now that you are in front of each stakeholder, watch their verbal language, body language and interaction with one another. You'll see clearly who the lead decision-maker is, who has influence with him/her and where you can build a relationship. Bring your manager with you on this all-important call. Two sets of eyes watching the prospect will always yield better results.
Sorry to throw another football analogy out there, but ever notice that coaches who have little influence with their ownership seldom win? They were never coaches to begin with. Make sure you find the right coach!!
Thursday, January 21, 2010
What's a Coach?
I like talking about advancing the deal, in the face of the word "wait", especially during this time of year when football champions are advancing the ball over the goal-line. In previous posts you've seen mention of the word "coach" several times. You need an offensive coach in football and you need a sales coach in professional selling since you are “quarterbacking” the deal. Here's where sales and football disagree however (though you may disagree): in football good defense wins the championship. In sales, it's a good offense - every time!
I've studied and practiced all of the different philosophies and methodologies about who you should be targeting as a sales pro: start high, work your way down, start anywhere you can and find the signing authority, etc. etc. Target IT, target HR. I suggest you find a potential coach and then develop them, wherever they may be. Tough work. But it's your key to success.
Who is a coach? Their title and job function do not matter. Miller Heiman teaches that it is one who not only guides you through the decision-making process, but also one who has influence with those who sign and endorse your contract. I completely agree. Politics are a reality in every company - title and function may very well not matter.
So in those pipeline reviews where it appears we are at the point where we have a coach, and that word "wait" comes up again, there are some tough questions asked. How is that coach guiding us? What has he/she revealed about internal process? How do you know he/she has influence with the right people?
A long time ago, I took a large prospect to lunch every week for six weeks while the deal unfolded. I thought I had it. I was counting on it to buy Christmas presents! He even told me during one lunch that he disliked the competitor's selling style. It's in the bag! He was my coach - after all, he accepted my lunch invitation every time - he likes me! In the eighth week, he told me the competitor had won. In the end, he had no influence with the CEO making the decision. And my prospect was the CEO's son!! Forget about title and function, sometimes even blood relationships don't count!
You'll play it differently than I did on that deal, I know you will!
I've studied and practiced all of the different philosophies and methodologies about who you should be targeting as a sales pro: start high, work your way down, start anywhere you can and find the signing authority, etc. etc. Target IT, target HR. I suggest you find a potential coach and then develop them, wherever they may be. Tough work. But it's your key to success.
Who is a coach? Their title and job function do not matter. Miller Heiman teaches that it is one who not only guides you through the decision-making process, but also one who has influence with those who sign and endorse your contract. I completely agree. Politics are a reality in every company - title and function may very well not matter.
So in those pipeline reviews where it appears we are at the point where we have a coach, and that word "wait" comes up again, there are some tough questions asked. How is that coach guiding us? What has he/she revealed about internal process? How do you know he/she has influence with the right people?
A long time ago, I took a large prospect to lunch every week for six weeks while the deal unfolded. I thought I had it. I was counting on it to buy Christmas presents! He even told me during one lunch that he disliked the competitor's selling style. It's in the bag! He was my coach - after all, he accepted my lunch invitation every time - he likes me! In the eighth week, he told me the competitor had won. In the end, he had no influence with the CEO making the decision. And my prospect was the CEO's son!! Forget about title and function, sometimes even blood relationships don't count!
You'll play it differently than I did on that deal, I know you will!
Wednesday, January 20, 2010
Wait Buster - Code Green!
So none of yesterday's ideas worked for you? Or maybe not fast enough? You're under the gun to deliver tomorrow. I understand.
Consider the idea of what I call a "Code Green". Now, not meant for ordinary deals (but talk to management - they could be amenable), this is an opportunity to gather your management around a single opportunity of significance in an emergency, i.e. the opportunity is not progressing or has slipped, or has even just emerged but looks complicated. I call it "Code Green" because green is the color of money. In a prior company, we called it Code Blue but that insinuates the patient is dying!
Here, you gather senior management from all functions on short notice to become creative and to bust through internal barriers towards winning the deal. It cannot be a critique of the salesperson's actions to this point - absolutely not. The meeting must present a clear plan for going forward that garners internal organizational support throughout, and gives your team the best chance of winning.
It works, all of the time, if it is called at the right time! I once had an outstanding sales manager who taught me, "never lose alone - get the chiefs involved!" Great advice!
Consider the idea of what I call a "Code Green". Now, not meant for ordinary deals (but talk to management - they could be amenable), this is an opportunity to gather your management around a single opportunity of significance in an emergency, i.e. the opportunity is not progressing or has slipped, or has even just emerged but looks complicated. I call it "Code Green" because green is the color of money. In a prior company, we called it Code Blue but that insinuates the patient is dying!
Here, you gather senior management from all functions on short notice to become creative and to bust through internal barriers towards winning the deal. It cannot be a critique of the salesperson's actions to this point - absolutely not. The meeting must present a clear plan for going forward that garners internal organizational support throughout, and gives your team the best chance of winning.
It works, all of the time, if it is called at the right time! I once had an outstanding sales manager who taught me, "never lose alone - get the chiefs involved!" Great advice!
Tuesday, January 19, 2010
From "Waiting" to "Next"!
I waited in line at the polls today. It's the only "waiting" I'll do today!
Moving out of the "wait" stage and taking back control of the sales process makes average sales performers into stars. How is it done? The tactics employed will vary depending on what stage of the sales cycle is before you.
Let's zero in on that point when your coach has asked for contracts, and has said to you, "I'm waiting for signatures." Here are some thoughts - contribute some of your own!
Is this coach really a coach? If so, he/she will coach you on the signing process, who is involved and, most important, the coach will have influence with the signees. Do you know and understand the other competing priorities in front of the signee? What else is in their "In box"? Are you truly past your competition? Do you know the other influencers involved? Can your coach give you a specific date to expect signatures?
Fortunately, if you traveled this far through the sales process, you'll probably get your signatures. But if you can't answer these questions, you'll be left wondering, waiting and hoping. And I'm not sure I'd put that deal on your "commit" list for the boss. So get out of line, take your coach to lunch and start asking those questions!
Moving out of the "wait" stage and taking back control of the sales process makes average sales performers into stars. How is it done? The tactics employed will vary depending on what stage of the sales cycle is before you.
Let's zero in on that point when your coach has asked for contracts, and has said to you, "I'm waiting for signatures." Here are some thoughts - contribute some of your own!
Is this coach really a coach? If so, he/she will coach you on the signing process, who is involved and, most important, the coach will have influence with the signees. Do you know and understand the other competing priorities in front of the signee? What else is in their "In box"? Are you truly past your competition? Do you know the other influencers involved? Can your coach give you a specific date to expect signatures?
Fortunately, if you traveled this far through the sales process, you'll probably get your signatures. But if you can't answer these questions, you'll be left wondering, waiting and hoping. And I'm not sure I'd put that deal on your "commit" list for the boss. So get out of line, take your coach to lunch and start asking those questions!
Monday, January 18, 2010
"Wait!""
I hate that word "wait" or the phrase "I am waiting...." around a pipeline conversation.
Ever think about it? What kind of successful sales pro elects to "wait" on any deal?! We are sales people because we love control.....control over our day, our earnings and the deal! If we are "waiting" (it even hurts to write the word), we are not in control. But listen carefully to pipeline conversations around you, and to your own inner voice about what it will take to advance the deal. You'll hear THAT word all of the time. If I let myself use THAT word, I know that I am failing myself and/or my team. If my sales person or manager is using it, the conversation doesn't end until we can replace THAT word, with concrete next steps to take control back.
When your coach is telling you, "I am waiting on.........." what can you do to take back control from the prospect's "internal review process"? Check in tomorrow and I'll have some suggestions. I hope I get some from you!
Ever think about it? What kind of successful sales pro elects to "wait" on any deal?! We are sales people because we love control.....control over our day, our earnings and the deal! If we are "waiting" (it even hurts to write the word), we are not in control. But listen carefully to pipeline conversations around you, and to your own inner voice about what it will take to advance the deal. You'll hear THAT word all of the time. If I let myself use THAT word, I know that I am failing myself and/or my team. If my sales person or manager is using it, the conversation doesn't end until we can replace THAT word, with concrete next steps to take control back.
When your coach is telling you, "I am waiting on.........." what can you do to take back control from the prospect's "internal review process"? Check in tomorrow and I'll have some suggestions. I hope I get some from you!
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