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Solution Selling Finding Business Even in This Economy. Kathy Yeager Contract Training Edge 913-593-5347 kyeager@ctedge.net. Workshop Agenda. Selling in This Economy Understanding Solution Selling Your Competitive Advantage Selling Value Instead of Price Handling Objections - PowerPoint PPT Presentation

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  • Solution SellingFinding Business Even in This EconomyKathy YeagerContract Training Edge913-593-5347kyeager@ctedge.net

  • Workshop AgendaSelling in This EconomyUnderstanding Solution SellingYour Competitive AdvantageSelling Value Instead of PriceHandling ObjectionsClosing Larger Dollar AccountsTrends and Best Practices

  • Selling in Todays EconomyGreen, Google, Global, Graying WorldCompanies facing:Uncertain timesReduced workforceLower sales More competitionFear of not making payrollNo succession planningBaby Boomers leaving (if they can)Companies want:To save moneyTo save wasteTo be more competitiveGo GreenSolve their painAnswers to their problemsEmployees to be more productive

  • How to Sell in This EconomyApproach only companies who can buy nowMust uncover true need to sellYour solution must meet their needResearch to beat your competitionCompelling opening statement (USP)Longer sales cycle with more decision-makers

  • What is Solution Selling?Customers have painand they are looking for a pain killerThe pain killer is the solution to their problemSolution selling is asking probing questions and listening for the customers pain. The solution is your response to the pain or need.

  • Solution SellingListens for needAsks probing questionsUnderstands the issues of the companyIs proactive in the approachCreates a blended solutionDoesnt show the catalog to sell trainingIsnt an order taker

  • Target MarketsWho Can Buy in a Depressed Economy?Recession-Proof CompaniesCurrent CustomersGrant Money RecipientsStimulus MoneyReferrals

  • What is Your Competitive Advantage?Identify your core businessWhat all do you have to sell?Ask your current customersExamples:Only college that does.Saved XYZ Co 65% wastage on the lineCustomized programsCollege brand image

  • Determine your USPUnique Selling Proposition what is it?Why the USP is importantHow you are better and differentWhen to useChamber Mtgs.Sales call approachIntroductionsClasses/Mtgs.Examples of USPWhat is yours?

  • Prospecting to Get More ClientsWho can get you in? ReferralsShowcaseLetter, e-mail, call a target companyMarketing campaignBuild org. chartOffer pilot Study competitionCRM for prospectingCompanies in your vertical marketBrand must set you apart in a small client pool

  • How to find those leadsNewspaperCompanies by sizeLibrary searchTop 25 in the areaMultiples to publicsLeads from grantsDatabase names that never closedReferralsLike clusters of current customersWeb and direct mail leadsHR listASTD and ISPIChamber listsPast customers who went to competition

  • Define target marketsWork in vertical marketsDetermine size of target companiesDetermine dollar volume of a good customer

  • Research Companies to Determine TargetsCompany websiteProduct history, officers, company size and $Google and Google AlertsNew products, acquisitions, or growthUncover potential needYahoo.Finance.ComMarket CapHoovers.Com www.hoovlane.com Co. 360Jigsaw.ComProquest.Com

  • The Sales ConversationEnter on human level sandwichBuild rapport & trustBegin with research factsAsk questions, listen, size up customerIdentify customers styleDon t telllistenAsk probing questions to uncover the need beneath the need

  • Probing Questions to Identify Pain or Critical IssuesYou are an educational practitioner. Must diagnose correctly You ask to uncover need and identify right solutionIts all about the customerUse their key words or power wordsProbe to uncoverNeedStyleGenerationPassionQuestion to get to the need beneath the need

  • Key questions to Uncover NeedsWhat does your company value most? Vision statement? Tie together?What are your companys strengths?Whats 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 InformationHow 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 QuestionsDo 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 IndicatorsListen for customers definition of success after the training. Replicate these words back to the client in the proposalMeetings with agendasManagers give feedback all year long instead of just at appraisal timeFront-line people are more customer focusedLess turnover

  • CEO Sales Call Role PlayListen to the role play and determine:Generation of the CEOPersonality style of the CEOWhat issues are going on with this companyWhat solutions would you suggestIs training the answer?

  • Selling Value Instead of PriceWhen true need is uncoveredsolution to pain will be worth moneyCompete on answer to painValue in eye of customerAre you selling solutions or classes?Take customer to pain, solution, price & end resultAsk what is the cost if we dont fix this problem?

  • Value is a PackagePrice is never a packageValue isSupport & helpProcessingServicesHelpful informationPersonal ConnectionValue pricingDiscover PhaseProspect tells you the value he wantsHave informative conversationsAdd your value to their value

  • How Do You Sell Value?Faster deliveryMoney back guaranteeOn-line resource centerFollow-up coachingList your most effective technique for setting your college apart from the competition

  • Selling to Make a ProfitDetermine goals of college for youPrice 50-60% over expensesExpand your product line to offer more solutionsthus more profitSell in phases sell over a longer period of timeGoal is to make money!

  • Handling Objections We Dont have the MoneyClarified before proposal delivery Are you budgeted for this?May be an excuse for something else havent fully clarified the needOpportunity for more informationQualify for a grant?Cut hours or servicesNot everyone is your customer!

  • What Are Objections?OpportunitiesThe customer simply wants more information to help make a buying decisionAnticipate objections and be ready with concrete answersOffer value-added services if needed

  • How to Close Larger ContractsTarget larger cos. who can buy nowSell in phases Start with the CEOTeam sell to uncover more pain pointsReferrals into top decision-makersPlace college rep on company premise to administer programBuild relationships with everyone in company to up-sellOffer solutions for subsidiaries

  • Sell Larger Contracts in PhasesPhase 1 assessment - $2,500/dayPhase 2 pilot - $2,000/dayPhase 3 Four modules - $1,000 eachPhase 4 Post assessment-$2,500 dayPhase 5 Follow up and coaching - $2,500/day

  • Analyze Your Top TenWhy 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 CustomersRank order by $Referrals into other departmentsBuild org. chart for other depts.Offer incentivesMembershipFrequent BuyerVolume Discount

    First to TryPilot programsTaste TestShowcaseNewsletterCross-sell/Up-sellProvide on-line helpBroad understanding of needs

  • How to Meet Your Yearly Sales GoalsIdentify yearly goal and break down into monthly, weekly, and daily goalsMeet with good customers monthlyTrack progress in monthly reports

    Daily activitiesProspectingFollow UpClosingReferrals10 Pipeline movements/weekAnalyze past successful sales

  • Meeting Your Sales GoalsWho are your prospects?What other services can you offer?Where is the most opportunity?Rank your prospects A, B, C

  • Best PracticesThe solution is tied to the mission, vision and values of the companyTeam selling will help upsell the customerContracts are priced to make a profitSuccessful units have a three-year plan and sell themselves to upper management

  • TrendsThis economy is the New NormalChange marketing to include social media to reach new marketsSales cycles will be longerSell Performance Consulting Solutions rather than just selling trainingUnderstand the different generations, learner styles, economy, and competition

  • TrendsStay close to current customers and expand that businessThere is sometimes more than one decision-makerIts all about the customer and their needs. Its not about your collegeMust fill the pipeline weeklyDevelop your college brand equity

  • Personal Action PlanHigh Priority IdeasImplement immediatelyPriority IdeasDiscuss with team in next 30-60 daysStrategic Longer TermIdeas to think about for 2010

  • For More InformationKathy YeagerContract Training Edge913-593-5347 cellkyeager@ctedge.netwww.ctedge.net

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