1	Shortening The Sales Cycle Scott R. Smith
2	The Purpose of this Presentation We are all experienced sales people A vehicle for discussion of our experiences A way to exchange ideas Maybe learn something new
3	You can differentiate yourself with the sales process!!!
4	Agenda The Sales Cycle Controlling the Sales Cycle Objection Handling & Competitive Selling Eliminating Evaluations
5	The Sales Cycle
6	Goals Ours: To get the order quickly, with minimal effort Theirs: To purchase the right product Warm & fuzzies Meet their technical criteria Meet their business criteria
7	The Ideal Sales Cycle The customer calls in the morning We quote the price Customer says great! We ship the product by noon We go golfing in the afternoon We are home for an early dinner
8	Another Sales Cycle Lead qualification Customer requests presentation & demo We give standard corporate demo & presentation Customer has objections We respond Customer wants evaluation We give an evaluation Customer still has objections We respond ... The customer still not sure....
9	What’s wrong with this: The customer is controlling the sales cycle Was the sale really qualified? Was there a compelling event? Were we talking to the decision maker? Who’s objections were they really? Did we have a sales strategy? Were we listening to the customer?
10	Controlling the Sales Cycle
11	Some Guiding Principles Listen ! ! ! ! ! ! You move the customer through the sales cycle For every thing the customer ask for you need to get something in return Customers don’t always know what they need. You help them define their needs. You and your competitor are not that different. Use the sales process to differentiate yourself Reference sell (let others sell for you) Don’t forget the objective ($$$)
12	A Controlled Sales Cycle Lead Qualification Listen!!!!!, Identify: Decision Maker Decision criteria Compelling event Why it’s important Potential objections Present the solution Product Presentations Position our solutions to possible objections Demo/Prototype Close the business
13	What is needed to make a sale? Lead qualification (What) Identify the decision makers (Who) Identify the decision criteria (Why) The compelling event (When) The internal salesperson (Sell)
14	Lead Qualification
15	What makes good product fit: Here we need to list the product features that fit the needs of the customer. Does there technical skills, platforms, business model, etc. fit with our product?
16	What makes good company fit: Company Culture Old or New Do our’s and their people get along What is there skill set - affects our level of work
17	Qualification Questions to Ask Questions that match qualify Technical Product Fit Company Fit
18	Evaluating the results Point system: A Lead 24-35 B Lead 15-23 C Lead 9-14 D Lead <9 Subjective System: Look at Product Fit Look at Company Fit Compelling Event Budget Internal Salesperson
19	When to Walk away When there is not a product/company fit It hurts when you see money on the table This has to be early on Voluntary, not forced It will make you money in the long run Pick the opportunities where we have the strong fit Pick the opportunities we can win at easily
20	Identify the Decision Maker(s) Politics make the business go around Many decisions are made based upon politics not on technical features Sell to the decision makers / budget holders The inner circle (decision makers): The real power structure in a company Has nothing to do with formal titles They approve budgets and product directions There are inner circles all around a company (department/corporate)
21	Some clues to the Inner circle Company Founders Division heads Who hired who (did they work together before?) Who promoted who (who got passed over) Who is on the fast track
22	Different Roles in the Decision making process Decision Makers They sign the checks Evaluators They approve the technical decisions Influencers They exert there influence over the decision makers and evaluators Budget holders They have the $$$
23	Identify the Decision Criteria What is the customers hot buttons? Features, Company, Services, Price, Other? Why are these important? Business objectives Personal agenda
24	Identify the Internal Salesman This guy sells for you when you’re gone He has his own vested interests If you don’t have one, your dead Does he have a track record? What do others think of him?
25	The Compelling Event This is THE Event in the future that drives the purchase decision. You need to find out what it is and when it is. Ask questions of multiple sources. Your contact does not always readily give this up. What happens if it’s not met? Who burns? Who benefit? If there is no compelling event there is no sale. This is you lever to close the sale. Create one if you have to. (How?)
26	Objection Handling & Competitive Selling
27	Agenda Setting Agenda: A set of features, position or need How products and needs are positioned Three agendas: Customers (Needs) Ours (Product Features) Competitors (Product Features) Goal: To meet the customers needs with our agenda To set land mines for the competition
28	Setting Land Mines Setting up an agenda the competitors can’t follow If first in the account: What does the customer need How do we fill that need with our agenda Get the customer to buy into our agenda Will need detail explanation (Why we are more portable, not just we are) The competition will have to respond
29	Stepping on Land Mines Caught in a position of responding to competition’s or customers agenda Makes us defensive, look bad Puts us in the second place position Need to find source of Objection Customer need? Competitor Agenda
30	Objection Handling Model Focus on needs not the objection
31	Be Pro-active Respond to customer needs before the objection Position our solution to their needs Handle potential objection up-front Makes objection less of an issue
32	Eliminating Evaluations
33	Issues With evaluations Why are they a problem: Evaluations prolong the sales cycle They open the door for objections Giving one away may satisfy a compelling event What’s good about them: The customer makes an investment They can be a good delay tactic Make them in to a compelling event
34	What are the customer’s objectives? Try us out See if they like us This is the techies requirement Build a prototype Specific technical requirements: Performance Reliability Features
35	Re-position to eliminate them Find out the objectives Translate them to a custom demo/prototype Use this as a relation-building exercise This differentiates you You are in control of the sale
36	Show them we are the better partner: We will learn more about them The SE will gain some new insights What we learn will better position us vs. our competitors The customer will feel we really understand them They don’t invest a lot of time (+/-) We have an investment in them
37	What to do if your competitor gives an evaluation away Don’t react to the pressure to give in Show your customer the better way That we are a partner We want to understand your business We can get you to your objective faster Reference sell
38	The Demo/Prototype Plan to spend 1-3 days to prepare (no more) Plan to make the presentation an all-day event Let them now you want to spend a day with them to learn their problems Is a selling tool How to build a demo/presentation that sells (Power Demos)
39	When you have to do an evaluation Identify the objectives up front Set milestones Must use project management techniques to control Get them to only evaluate us Agreement to buy if objectives are met Get them to agree to buy training - Get them invested is us
40	CLOSE THE BUSINESS