how to effectively manage the sales process

How to Effectively Manage Your Sales Process

Sales Training

Michael Halper

What is a Sales Process

• A set of steps and stages to take prospect through that will lead to a closed sale

• Not fixed and can vary from:– One business to another

– One product to another

– One prospect to another

Why this is Important

• ABC – Always Be Closing

• Not enough time to completely sell during early prospecting stages

• Helps to break down the entire process into separate steps with different goals

• Helps you to be more focused and in more control

• Improve your ability to deflect objections

• Can greatly improve effectiveness

Early Sales Process Stages

• Ultimate goal: close the sale

• Immediate goal: get commitment to advance to next stage in sales process

• Always stay focused on the immediate goal

• Figuring out early stage steps is what is most important

Initial Contact(First time to speak)

Cold CallInbound CallEmailEvent

2 to 5 minutes80% on prospect20% on you

First Conversation(Appointment/Meeting)

Phone CallFace-to-FaceDiscovery

20 to 30 minutes50% on prospect50% on you

First Meeting(Presentation)

DiscoveryPresentationDemonstration

1 to 2 hours20% on prospect80% on you

Early Sales Process Stages

Stage GoalsInitial Contact(First time to speak)

Cold CallInbound CallEmailEvent

2 to 5 minutes80% on prospect20% on you

First Conversation(Appointment/Meeting)

Phone CallFace-to-FaceDiscovery

20 to 30 minutes50% on prospect50% on you

First Meeting(Presentation)

DiscoveryPresentationDemonstration

1 to 2 hours20% on prospect80% on you

Pre-qualifyGather high-level informationBuild interest in having conversationSchedule a First Conversation

Hard QualifyGather detailed InformationBuild interest in meetingSchedule a First Meeting

Sell ProductMap out Next StepsClose (Sale or agreement to move forward)

Early Sales Process Stages

Alternative Path – Instant CallInitial Contact(First time to speak)

Cold CallInbound CallEmailEvent

2 to 5 minutes80% on prospect20% on you

First Conversation(Appointment/Meeting)

Phone CallFace-to-FaceDiscovery

20 to 30 minutes50% on prospect50% on you

First Meeting(Presentation)

DiscoveryPresentationDemonstration

1 to 2 hours20% on prospect80% on you

Pre-qualifyGather high-level informationBuild interest in having conversationSchedule a First Conversation

Hard QualifyGather detailed InformationBuild interest in meetingSchedule a First Meeting

Sell ProductMap out Next StepsClose (Sale or agreement to move forward)

Splitting Initial Contact and First Conversation

• It can be common for your first contact to flow into a first conversation

• There are benefits from preventing that and having two separate conversations:

– First call at the time of first contact will be rushed– Scheduling on another day allows you to put time on the prospects calendar– The break and scheduling of the meeting will allow you and the prospect to be

more prepared for the first call– You will have more time and attention to work with

• How to prevent:– “You are asking very good questions. I actually would like to talk with you about

this in more detail and I have called you out of the blue. Do you have another 20 minutes to go through all of this now or should we put some time on the calendar to get together?”

Early Sales Process Stages

Alternate Path – Instant MeetingInitial Contact(First time to speak)

Cold CallInbound CallEmailEvent

2 to 5 minutes80% on prospect20% on you

First Conversation(Appointment/Meeting)

Phone CallFace-to-FaceDiscovery

20 to 30 minutes50% on prospect50% on you

First Meeting(Presentation)

DiscoveryPresentationDemonstration

1 to 2 hours20% on prospect80% on you

Pre-qualifyGather high-level informationBuild interest in having conversationSchedule a First Conversation

Hard QualifyGather detailed InformationBuild interest in meetingSchedule a First Meeting

Sell ProductMap out Next StepsClose (Sale or agreement to move forward)

First Conversation Types

• In-person appointments

• Phone call

• Virtual on web-sharing

• Coffee

• Lunch

First Conversation Preparation

Research

•Company website

•Yahoo Finance

•Awareness of what the company does

•Awareness of recent news, events, industry trends

•Research prospect on social media

Prepare Questions

•Qualifying questions

•Discovery questions

First Conversation Execution

First 50% of meeting focused on prospect

•First 50% of meeting focus on prospect•Find out what is working/not working•Current goals/challenges/initiatives•Gather organizational details•Hard qualify the prospect

Second 50% focused on you

•Explain what you do •Connect the value you offer with prospect pain•Share how you differ•Tell a client story•Share ROI details•Close for the next step in your process

Performing Discovery

Current Environment

•What are you using for…?•How long have you been using that?•What is working well? What could be working better?•Is there a current agreement in place?•What are some of the challenges you are focused on decreasing?•If you could wave a wand and change one thing, what would that be?•Pre-qualifying questions

Performing Discovery

Goals and Objectives

•What are the key goals that your organization is focused on for this year?•What are the key objectives that your success is measured by? •What are the key critical business issues that your are impacted by?

Performing Discovery

Organizational Details

•What is your role in the organization?•What does your organization look like?•What other organizations are impacted by this area?•Who else should I try to connect with regarding this?

Performing Discovery

Decision Making Process

•What is the decision making process?•What are the key factors that a decision will be based on?•Who is the ultimate decision maker?•Is there a committee that this type of purchase has to go through?•Hard qualifying questions

Sales Lead Follow-up

1. Identify the follow-up time

2. Clarify the timing

3. Reconcile time with compelling event

4. Schedule reminders

5. Add to appropriate drip campaign

6. Follow-up at agreed timing

First Meeting Types

• Presentation

• Demonstration

• Deep discovery

• Proposal review

First Meeting Execution

Conventional Approach

•Company info•Portfolio of products•Standard Product demonstration•Pricing•Next steps?

First Meeting Execution

Alternative Approach

•Our Findings– Your Challenges/Goals

•How we can help– Tailored product demonstration– Outline of projected improvements– Estimation of ROI

•How we have helped others– Client story / case study

•Company Facts•Investment Summary

– Pricing if appropriate

•Next Steps / Evaluation Plan

Evaluation PlanActivity Date Owner Status

Meeting with Shawn Williams 6/25/2013 Halper Complete

Meeting with Executive team 7/23/2013 Halper Complete

Send info and call Shawn Williams first week of August

Halper Open

Whiteboard session 8/13/2013 Halper/Williams Open

Process Recommendations/Proof of Capabilities 8/27/2013 Halper/Jones Open

Build Business Case 9/3/2013 Halper/Williams Open

Presentation of Draft Proposal and Contract Language 9/10/2013 SalesScripter / XYZ Corp Open

Communication of change requests to documents 9/17/2013 XYZ Corp Open

Delivery of Final Executable Documents 9/24/2013 Halper Open

Partnership Agreement signed 9/30/2013 SalesScripter / XYZ Corp Open

Implementation TBD SalesScripter / XYZ CorpL

Open

Go live with partnership 1/2013 SalesScripter / XYZ Corp Open

Evaluation Plan

• Create a word version

• Include with your proposal and update through out the sales process

Key Takeaways

• Your ultimate goal is to sell your product. Your immediate goal is to get the prospect to move to the next step in your sales process.

• You will improve your results by staying focused on the immediate goal

• You will need to map out your ideal process to know what your immediate goals are

• Identify what your initial contact, first call and first meetings look like for your business

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