Garnering Committment!

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Aug 262011
 

A week ago, I wrote about the need for field sales to maximize their presence at the customer’s office to take advantage of the opportunity and as much as possible press forward.

http://www.alighaemi.com/wp/?p=760

What about inside sales? What inside sales representatives occasionally forget is the goal of their telephone discussion. Once a request has been made or once a suggestion is put forth, the salesperson needs to obtain a commitment. What is the next actionable item to which the customer is committing?

Here is an example:
Customer is being non-committal or simply blowing the salesperson politely off: “send me the brochure and I will look at it.”
Assuming the customer is either an influencer or a decision-maker here is what the salesperson needs to say and do while the customer is on the telephone: “For which information would you be looking? Can I answer the question or we dig deeper together? Who else would need to look at the brochure and what are they looking for? May we set an appointment to review the next steps? Which day and time? Etc.”
The salesperson needs to get a commitment from the customer that aligns with the communicated sales objectives. Short of getting a sale on the books, the salesperson needs to obtain a definitive and time-bound promise from a customer on that telephone call.
The answer might not always be a ‘yes,’ but not asking might be a problem of the salesperson’s making. Simply seal your request for a definitive next action with a ‘would you have an objection to that?’

 

 

Does The Sales Funnel Still Function?

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Aug 232011
 

For years the sales funnel has given order to sales opportunities, forecasting and businesses’ financial predictions and revenue reporting. But does it still matter? Does it work? The sales funnel or pipeline typically began with awareness/contact and progressed to the sales process’ completion. Nowadays though customers come much better informed, occasionally knowing what they want, having seen/ran their own demos online and care nothing for the sales process. In the information era how can a funnel exist if customers can enter it anywhere and anytime?

Financial And Accounting ERP Software

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Aug 222011
 

According to consulting firm IDC, as quoted in Accounting Today, the world’s top financial accounting software vendors in 2010, measured according to revenue are, in order, SAP, Oracle and Sage. These three account for 30.3 percent of the market pie, according to a recent IDC report. The world-wide revenue of $13.7 represents a growth of 4.6% following smaller growths in 2009 and 2010 due to the recession.

IDC also believes that financial applications have reached a critical mass and tipping points for migration to SAAS (Software As A Service). Financials are behind other applications given regulatory and privacy issues.

What is branding?

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Aug 192011
 

To successfully compete every company needs a brand. Whether a large corporation, such as Pepsi, or an upstart branding is important in establishing one’s company and taking charge of the message that we desire the entity to convey.
The list of companies that have done an effective job is well-known. Think of Dell Computers as the low cost computer leader, Coca Cola and its refreshing connotations or how about Emirates Airlines and luxury?

What does branding include and which considerations need to be included?
Who are you? What do you do? What is your proposition? How do you give benefit and what sets you apart?
What does the market want? What does the market need? What has garnered you a positive response?

Part, but not whole, of this discussion is having an appropriate name and a logo. Think about Nike and how it stands for something, is recognizable and people think of it when they say ‘just do it.’ The rule of thumb is to be related, but not too obvious. Copyrighting the same is typically done at the local level, but could be escalated with legal assistance to a country or continent.
The most important aspect of branding though is the content. Your results, products, customer approach and support become your brand.

This Is It!

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Aug 162011
 

Out: Arriving at a prospect’s office, shaking hands, commenting on the framed picture of the children on the desk, yanking out the laptop and launching into the company presentation, taking some notes, promising a proposal for the second meeting and driving off.
In: Arriving at a prospect’s office having arranged to meet as many people as possible, asking as many questions collaboratively as possible, sketching out the needs, desires and plans and cooperating with one, or more, of the decision-makers (there is more than one) on your proposal, possibilities and outcomes because this might be the only chance you will get.

Of haggling, discounting and price pressures

 Articles, Negotiating, Selling  1 Comment »
Aug 152011
 

If I were to ask you, as an enterprise salesperson, what the biggest headache or obstacle in your sales process would be, what would you say?
My guess would be that ‘price’ and ‘the competition’ or ‘discounting by the other guys’ are prime issues on, or near the, top of most salespeople’s list. Stating the obvious, it is a competitive environment out there. The advent of communication and the Internet has made matters worse. Customers are knowledgeable and informed. It is a toxic environment for sales and margins and an optimal situation for buyers.
Solution? You have to show value above and beyond the competition and you have to do it proactively and on your terms.

Your statements, presentations and discussions with your potential customers need to convey what you offer above those contending for the business. Reality is that often you will not be the cheapest offering. To stay in business one cannot consistently offer the cheapest price or show the lowest dollars figure to a prospect – that would be a recipe for bankruptcy, which does not serve either party. Most customers do not want to bankrupt a supplier. Find out (ask or anticipate if you must!) who the competition is. Include your value against theirs to your customer. Be positive and honest in disclosing their value. However, present your added value and why you are a better bargain. Why are you superior and where do you perform better than they do? Perhaps, your presentation can feature a check list depicting you versus the competition? Rationalize your higher price point positively. This also acts as a competitive trap for the competition. They will have to navigate through the landmines you left in their way.

Oh #1: you are up-to-date and an expert on your competition, right?
Oh #2: if you cannot show better value than whoever else is vying for the business then it is time to go back to the drawing board, isn’t it?

 

Marketing Vs. Sales

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Aug 122011
 

Most people have a feel for the difference between sales and marketing and the demarcation points, but defining them has proven more difficult.

Here are the definitions of marketing according to the Oxford English Dictionary:

Marketing: The action of buying or selling, esp. in a market; an instance of this.
Selling: To give up or hand over (something) to another person for money (or something that is reckoned as money).

Marketing is the set of activities that turns a goods or service from an abstract concept into something desirable for the user. Marketing folk are trained to make a connection between goods or service to consumption factors a.k.a promotion.

Marketing is the support and engine for sales. All advertising, collateral, promotions or programs are aimed at creating the awareness, information and encouragements that a customer needs to make a sale happen. This tool arms the sales team to make the correct impression and create alignment between the buyer and the seller.

Marketing needs to ascertain what the company is producing is what is needed and the correct information is available to support the sale. The sales group must leverage that to influence the customer to make a favourable decision and exchange the company’s expertise into money.

Both groups, which are simply different points on the same spectrum, are tasked with explaining to the customer why the exchange of goods or services between the provider and buyer is beneficial to the latter. It is marketing’s job to correctly supply the arsenal of the sales team and provide support, while the sales group is tasked with taking correct advantage and applying and leveraging the marketing program to the fullest. It is critical that the teams support one another and provided two-way feedback.

Is it “all in the pitch”?

 Articles, Marketing, Prospecting, Selling  1 Comment »
Aug 112011
 

Now I do not condone using sex as a sales technique, but a new CBC report on Toronto panhandlers is a good reminder of how important it is to cut through the jammed clutter of modern life to get the message through.
At least two enterprising Toronto-based panhandlers are using key words like ‘sex’ to grab the attention of passers-by to solicit money. Judging by the reported results it is working. They are holding up signs, which are, er, an upgrade over the standard ‘hungry, please help’ verbiage usually used!

As the article points out, while having meat on the bone i.e. a good product or service is key, grabbing the attention of prospects requires something that stands out from the masses (competitors) and a dose of humour or flash does not hurt.

http://www.cbc.ca/news/canada/story/2011/07/25/panhandlers-pitches.html

Do you have the required flash and pizzazz and do you stand out?

Salespeople – Eliminating The Two Extremes

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Aug 102011
 

Sales managers are responsible to both their employees and the companies for which they work. That means that team managers need to hire and keep the best people possible.
Most salespeople, typically, do not fall into either extreme of being the ultimate sales machine or being unbridled failures. The typical salesperson falls somewhere in-between.

This is where the manager’s job gets intricate.

This salesperson needs a personal approach based on his character and preferences. This salesperson needs monitoring and motivation. This salesperson needs to be pushed, pulled, left alone or closely monitored based on the circumstance. There is no formula. The manager has to figure it out based on that salesperson’s particular qualities, goals or based on mutual agreement. The hard work will inch the employee forward towards becoming the top salesperson – but it took customized attention and more time, but it is worth it.

Do Not Forget The Emotion

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Aug 032011
 

I don’t mean to understate the value of facts, data or rationality, but when selling never forget the power of emotions.
As much as we like to think we make good choices based on regimented and thought-out reasons, emotions are a big factor in our buying decisions and often a bigger criterion than most of recognize or understand.

Think about it. We all make decisions based on how we feel about something. After all, if emotions were not a major buying factor wouldn’t everyone buy the same car with the highest price-to-feature rating based on the class of vehicle one required? Of course, we consider a car’s features, horse power and fuel efficiency, but when all is said and done, we must like the look and image of the car. Wouldn’t the market for CD cover designs diminish rapidly? After all, we would be buying the disc based on its content and its style. Many managers know, but may not openly admit, that they hired a candidate based on a ‘gut feeling.’ There are numerous examples.

What this means is we need to understand the power of emotions when selling. It follows that we need to consider the customer’s feelings. The buyer must be comfortable. They must trust. They must have that ‘gut feeling.’ This is why advanced selling is often called ‘relationship-based selling.’ This is why they say ‘you have to sell yourself.’ Give people a reason to buy from you. Give yourself some emotional appeal. Make yourself part of a story… at least until human beings evolve to more rational beings!
This is not to suggest creating and demonstrating value is meaningless. It is meant to address the need for a balanced (using that word in this context seems odd to me) approach.

Your manager or company will ultimately not care if you made the sale because the prospect felt sorry for you, laughed at your joke or counted the most number of benefits in your service versus something else.

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