solution selling finding business even in this economy kathy yeager contract training edge...
TRANSCRIPT
Solution SellingFinding Business Even in
This EconomyKathy Yeager
Contract Training Edge
913-593-5347
Workshop Agenda
Selling in This Economy Understanding Solution Selling Your Competitive Advantage Selling Value Instead of Price Handling Objections Closing Larger Dollar Accounts Trends and Best Practices
Selling in Today’s EconomyGreen, Google, Global, Graying World
Companies facing: Uncertain times Reduced workforce Lower sales More competition Fear of not making
payroll No succession
planning Baby Boomers
leaving (if they can)
Companies want: To save money To save waste To be more
competitive Go Green Solve their pain Answers to their
problems Employees to be
more productive
How to Sell in This Economy
Approach only companies who can buy now
Must uncover true need to sell
Your solution must meet their need
Research to beat your competition
Compelling opening statement (USP)
Longer sales cycle with more decision-makers
What is Solution Selling?
Customers have pain—and they are looking for a pain killer
The pain killer is the solution to their problem
Solution selling is asking probing questions and listening for the customer’s pain. The solution is your response to the pain or need.
Solution Selling
Listens for need Asks probing questions Understands the issues of the company Is proactive in the approach Creates a blended solution Doesn’t show the catalog to sell training Isn’t an “order taker”
Target Markets—Who Can Buy in a Depressed Economy?
Recession-Proof Companies Current Customers Grant Money Recipients Stimulus Money Referrals
What is Your Competitive Advantage?
Identify your core business What all do you have to sell? Ask your current customers Examples:
“Only” college that does…. Saved XYZ Co 65% wastage on the line Customized programs College brand image
Determine your USP
Unique Selling Proposition – what is it?
Why the USP is important
How you are better and different
When to use Chamber Mtgs. Sales call
approach Introductions Classes/Mtgs.
Examples of USP What is yours?
Prospecting to Get More Clients
Who can get you in? – Referrals
Showcase Letter, e-mail, call a
target company Marketing campaign Build org. chart
Offer pilot Study competition CRM for prospecting Companies in your
vertical market Brand must set
you apart in a
small client pool
How to find those leads
Newspaper Companies by size Library search Top 25 in the area Multiples to publics Leads from grants Database names that
never closed Referrals
“Like” clusters of current customers
Web and direct mail leads
HR list ASTD and ISPI Chamber lists Past customers who
went to competition
Define target markets
Work in vertical markets
Determine size of target companies
Determine dollar volume of a good customer
Research Companies to Determine Targets
Company website Product history, officers, company size and $
Google and Google Alerts New products, acquisitions, or growth Uncover potential need
Yahoo.Finance.Com Market Cap
Hoovers.Com – www.hoovlane.com – Co. 360 Jigsaw.Com Proquest.Com
The Sales Conversation
Enter on human level – sandwich
Build rapport & trust
Begin with research facts
Ask questions, listen, size up customer
Identify customer’s style
Don’ t tell—listen Ask probing
questions to uncover the need beneath the need
Probing Questions to Identify Pain or Critical Issues
You are an educational practitioner. Must diagnose correctly
You ask to uncover need and identify right solution
It’s all about the customer Use their key words or
power words
Probe to uncover Need Style Generation Passion
Question to get to the need beneath the need
Key questions to Uncover Needs
What does your company value most? Vision statement? Tie together?
What are your company’s strengths? What’s going well for your company? What are the greatest challenges? What prevents you from achieving your
goals? What will success look like for you at the
end of the training?
Customer Questions – Great to Know Information
How much do you spend yearly on learning/training?
Where do you spend these dollars? How are decisions made regarding who
to train and when to provide training? How many employees received training
last year, and what was the average amount of time spent in training per employee?
More Customer Questions
Do you tie training and development back to the goals and objectives of your organization? If so, how do you measure ROI?
What are the critical business issues facing your organization this year?
Are you aware we can be your partner in training and a full service business solutions provider?
Success Indicators
Listen for customer’s definition of success after the training. Replicate these words back to the client in the proposal Meetings with agendas Managers give feedback all year long instead of
just at appraisal time Front-line people are more customer focused Less turnover
CEO Sales Call Role Play
Listen to the role play and determine: Generation of the CEO Personality style of the CEO What issues are going on with this
company What solutions would you suggest Is training the answer?
Selling Value Instead of Price
When true need is uncovered—solution to pain will be worth money
Compete on answer to pain
Value in eye of customer
Are you selling solutions or classes?
Take customer to pain, solution, price & end result
Ask what is the cost if we don’t fix this problem?
Value is a Package
Price is never a package
Value is Support & help Processing Services Helpful information Personal Connection Value pricing
Discover Phase Prospect tells you
the value he wants
Have informative conversations
Add your value to their value
How Do You Sell Value?
Faster delivery Money back guarantee On-line resource center Follow-up coaching List your most effective technique for
setting your college apart from the competition
Selling to Make a Profit
Determine goals of college for you Price 50-60% over expenses Expand your product line to offer more
solutions—thus more profit Sell in phases – sell over a longer period
of time Goal is to make money!
Handling Objections – “We Don’t have the Money”
Clarified before proposal delivery – “Are you budgeted for this?”
May be an excuse for something else – haven’t fully clarified the need
Opportunity for more information Qualify for a grant? Cut hours or services Not everyone is your customer!
What Are Objections?
Opportunities The customer simply wants more
information to help make a buying decision
Anticipate objections and be ready with concrete answers
Offer value-added services if needed
How to Close Larger Contracts
Target larger cos. who can buy now
Sell in phases Start with the CEO Team sell to uncover
more pain points Referrals into top
decision-makers
Place college rep on company premise to administer program
Build relationships with everyone in company to up-sell
Offer solutions for subsidiaries
Sell Larger Contracts in Phases
Phase 1 – assessment - $2,500/day Phase 2 – pilot - $2,000/day Phase 3 – Four modules - $1,000 each Phase 4 – Post assessment-$2,500 day Phase 5 – Follow up and coaching -
$2,500/day
Analyze Your Top Ten
Why do they do business with you? What is the dollar volume of business? Can it be expanded? Are there other “like customers” you
could do business with? What is a customer worth?
How to Expand Business With Current Customers
Rank order by $ Referrals into other
departments Build org. chart for
other depts. Offer incentives
Membership Frequent Buyer Volume Discount
First to Try Pilot programs Taste Test Showcase
Newsletter Cross-sell/Up-sell Provide on-line help Broad understanding of
needs
How to Meet Your Yearly Sales Goals
Identify yearly goal and break down into monthly, weekly, and daily goals
Meet with good customers monthly
Track progress in monthly reports
Daily activities Prospecting Follow Up Closing Referrals
10 Pipeline movements/week
Analyze past successful sales
Meeting Your Sales Goals
Who are your prospects? What other services can you offer? Where is the most opportunity? Rank your prospects – A, B, C
Best Practices
The solution is tied to the mission, vision and values of the company
Team selling will help “upsell” the customer
Contracts are priced to make a profit Successful units have a three-year plan
and “sell” themselves to upper management
Trends
This economy is the “New Normal” Change marketing to include social
media to reach new markets Sales cycles will be longer Sell Performance Consulting Solutions
rather than just selling training Understand the different generations,
learner styles, economy, and competition
Trends
Stay close to current customers and expand that business
There is sometimes more than one decision-maker
It’s all about the customer and their needs. It’s not about your college
Must fill the pipeline weekly Develop your college brand equity
Personal Action Plan
High Priority Ideas Implement immediately
Priority Ideas Discuss with team in next 30-60 days
Strategic Longer Term Ideas to think about for 2010
