how to effectively manage the sales process
DESCRIPTION
There are key things that you can do to improve your ability to manage prospects through your sales process. Those are outlined in this presentation and video.TRANSCRIPT
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
www.salesscripter.com | [email protected] | 713-802-2026