Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
SlideShare a Scribd company logo

Strategic Selling

•Download as PPTX, PDF•
•
R
r1stdate

The document discusses strategic selling techniques for achieving sales success in a constantly changing business environment. It covers identifying buying influences in complex sales, examining one's current position with an account, leveraging strengths and addressing potential red flags, managing the sales process to achieve a win-win outcome, creating an ideal customer profile, and prioritizing sales opportunities using a sales funnel. The overall message is that sales professionals need strategic planning and analysis of accounts to navigate complex sales and changing conditions.

1 of 27
THE NEW STRATEGIC SELLING Notes and Review
Successful Selling In A Chapter 1 World of Constant Change Have you ever lost a “Sure Thing”? (Ray vs. Greg)
Successful Selling In A Chapter 1 World of Constant Change “A Complex Sale is one in which a number of people must give their approval or input before the buying decision can be made.” One or more of the following is in place: • The buying organization has multiple options • The selling organization has multiple options • In both organizations, numerous levels of responsibility are involved • The buying organization’s decision making process is complex- rarely apparent to an outsider
Successful Selling In A Chapter 1 World of Constant Change “The Only Constant is Change.” Premise 1- Whatever got you to where you are today, is no longer sufficient to keep you there. Premise2- A good tactical plan is only as good as the strategy that came before it. Premise 3- You can succeed in today’s sales environment only if you know what you’re doing and why.
Successful Selling In A Chapter 1 World of Constant Change Profile of the Strategic Professional. They have a conscious, planned system that is visible, logical, and repeatable. They have a special brand of persistence. 80/10 and after 5. They are never satisfied. The best always want to do better.
Successful Selling In A Chapter 1 World of Constant Change “It’s the way I go about it that makes me number one.” How Strategic Selling Works. Based on Applications not Gimmicks Workshop Method
Strategy and Tactics Chapter 2 Defined Coaching in the NFL. Tactics are your basics. Strategy is your game plan.
Strategy and Tactics Chapter 2 Defined Why You Need Strategy First. “The object of a good sales strategy is to get yourself in the right place with the right people at the right time.”
Strategy and Tactics Chapter 2 Defined Long Term Strategy: Focus on the Account. “One of the hardest decisions any sales professional has to make is the decision not to close a sale.” Not all revenue is good revenue.
Strategy and Tactics Chapter 2 Defined Setting Account Strategy: Four Steps to Success. 1. Analyze your current position with your account and your current sales objective. 2. Think through possible Alternate Positions. 3. Determine which Alternate Positions would best achieve your objective and create an Action Plan to achieve it. 4. Implement your Action Plan.
Your Starting Point: Chapter 3 Position “Fully understanding your current position means knowing who all your key players are, how they feel about you, how they feel about your proposal, what questions they want to have answered, and how they see your proposal vis a vis their other options.” You always have a position and therefore a strategy. If you are unsure, then your position is “lost”.
Your Starting Point: Chapter 3 Position Personal Workshop 1: Position Pick an Account, one where things are not all roses, that you can utilize throughout the book.
Your Starting Point: Chapter 3 Position Step 1: Identify Relevant Changes Write down changes that may affect your position and strategy. Some may be general, like the economy, others specific like new competition, new product offerings etc. Rate them as sudden events, gradual erosion, or a result of continuous growth.
Your Starting Point: Chapter 3 Position Step 2: Rate These Changes as Threats or Opportunities There is no right or wrong, analyze each one as it may pertain to your business. Some may be both.
Your Starting Point: Chapter 3 Position Step 3: Define Your Current Single Sales Objective This Objective must 1. Be Specific and Measurable. 2. Be Tied to a Timeline. 3. Focus on a Specific Outcome in a Specific Account. 4. Be single rather than multiple (no “ands”).
Your Starting Point: Chapter 3 Position Step 4: Test Your Current Position “How do I feel right now about closing this piece of business? The Euphoria-Panic Continuum.
Your Starting Point: Chapter 3 Position Step 5: Examine Alternate Positions “Once you know where you are, you next want to know where to go.” If you are on the right side, you need to consider positions that will reduce anxiety. If you are on the left side you need to consider options that ensure continued success. Consider changes and ask which ones would make you feel better about your position, then create a plan to bring that about.
The Six Key Elements of Chapter 4 Strategic Selling Key Element 1: Buying Influences Economic Buyer- Gives final approval, is a single person or group, can say “yes” when other say “no”, and can veto other buyers approval. User Buyer- Use the product and their success is tied to it, make judgments about impact, there may be several in a sale. Technical Buyer- Screens out options. They focus on the product and service, can’t give final yes, but often give a final “no”. Again, there may be several in a given sale. Coach- Helps you navigate the buying organization and identify other buying influences. May work for buying organization, your organization, or neither.
The Six Key Elements of Chapter 4 Strategic Selling Key Element 2: Red Flags/Leverage from Strength Identify missing pieces of information as potential Red Flags. Devise Plan to Leverage from existing Strengths to eliminate these Red Flags and move toward your sales objective.
The Six Key Elements of Chapter 4 Strategic Selling Key Element 3: Response Modes Determined by Buyer’s perception of their current situation, how they view your proposal in respect to changing that situation and whether they believe it will close the gap between that perceived current position and the one they wish to attain. The 4 Modes are: Growth Trouble Even Keel Overconfident
The Six Key Elements of Chapter 4 Strategic Selling Key Element 4: Win Results “Managing a sale to Win-Win must meet both a Corporate Result, and a Personal Win for each buying influence.” The 4 Potential Outcomes are: Win-Win Win-Lose Lose-Win Lose-Lose
The Six Key Elements of Chapter 4 Strategic Selling Key Element 5: The Ideal Customer Profile “Every sales representative you know, no matter how successful, has up to 35 percent poor prospects working at any given moment-that will be impossible to close, or if they’re closed, will eventually become liabilities.” Use attributes or current and past good customers to create a profile to test your current and future prospects against.
The Six Key Elements of Chapter 4 Strategic Selling Key Element 6: The Sales Funnel “The Sales Funnel enables you to use your most precious commodity, your selling time, in the wisest and most efficient manner possible.” There are 4 types of selling work and the funnel helps you prioritize that work both in order and in time allocated to each type to close more sales and minimize the Roller Coaster effect.
Key Element 2: Red Flags Chapter 6 Leverage from Strength “The people who regularly pull down 200 or 300 percent of their quotas, are those who find the most Red Flags in their accounts.” Automatic Red Flags Critical information missing Uncertainty about information Any uncontacted Buying Influence Buying Influence(s) new to the job Reorganization
Key Element 2: Red Flags Chapter 6 Leverage from Strength “Leverage from Strength can be considered the better half of the Red Flag technique.” Strengths Areas of Differentiation (perspective) Improves your current position Must be relevant to this sales objective
Key Element 2: Red Flags Chapter 6 Leverage from Strength Eliminating Red Flags Don’t Hammer Away or Ignore the Roadblock Do Leverage from Strength “Look for a place to put your Fulcrum.”
Key Element 2: Red Flags Chapter 6 Leverage from Strength Personal Workshop Take your chosen account and identify Red Flags and areas of Strength. Revise your Alternate Positions list using this new information Create an Action Plan to Leverage Strength or Eliminate Red Flags to get closer to reaching the Sales Objective

More Related Content

Strategic Selling

  • 1. THE NEW STRATEGIC SELLING Notes and Review
  • 2. Successful Selling In A Chapter 1 World of Constant Change Have you ever lost a “Sure Thing”? (Ray vs. Greg)
  • 3. Successful Selling In A Chapter 1 World of Constant Change “A Complex Sale is one in which a number of people must give their approval or input before the buying decision can be made.” One or more of the following is in place: • The buying organization has multiple options • The selling organization has multiple options • In both organizations, numerous levels of responsibility are involved • The buying organization’s decision making process is complex- rarely apparent to an outsider
  • 4. Successful Selling In A Chapter 1 World of Constant Change “The Only Constant is Change.” Premise 1- Whatever got you to where you are today, is no longer sufficient to keep you there. Premise2- A good tactical plan is only as good as the strategy that came before it. Premise 3- You can succeed in today’s sales environment only if you know what you’re doing and why.
  • 5. Successful Selling In A Chapter 1 World of Constant Change Profile of the Strategic Professional. They have a conscious, planned system that is visible, logical, and repeatable. They have a special brand of persistence. 80/10 and after 5. They are never satisfied. The best always want to do better.
  • 6. Successful Selling In A Chapter 1 World of Constant Change “It’s the way I go about it that makes me number one.” How Strategic Selling Works. Based on Applications not Gimmicks Workshop Method
  • 7. Strategy and Tactics Chapter 2 Defined Coaching in the NFL. Tactics are your basics. Strategy is your game plan.
  • 8. Strategy and Tactics Chapter 2 Defined Why You Need Strategy First. “The object of a good sales strategy is to get yourself in the right place with the right people at the right time.”
  • 9. Strategy and Tactics Chapter 2 Defined Long Term Strategy: Focus on the Account. “One of the hardest decisions any sales professional has to make is the decision not to close a sale.” Not all revenue is good revenue.
  • 10. Strategy and Tactics Chapter 2 Defined Setting Account Strategy: Four Steps to Success. 1. Analyze your current position with your account and your current sales objective. 2. Think through possible Alternate Positions. 3. Determine which Alternate Positions would best achieve your objective and create an Action Plan to achieve it. 4. Implement your Action Plan.
  • 11. Your Starting Point: Chapter 3 Position “Fully understanding your current position means knowing who all your key players are, how they feel about you, how they feel about your proposal, what questions they want to have answered, and how they see your proposal vis a vis their other options.” You always have a position and therefore a strategy. If you are unsure, then your position is “lost”.
  • 12. Your Starting Point: Chapter 3 Position Personal Workshop 1: Position Pick an Account, one where things are not all roses, that you can utilize throughout the book.
  • 13. Your Starting Point: Chapter 3 Position Step 1: Identify Relevant Changes Write down changes that may affect your position and strategy. Some may be general, like the economy, others specific like new competition, new product offerings etc. Rate them as sudden events, gradual erosion, or a result of continuous growth.
  • 14. Your Starting Point: Chapter 3 Position Step 2: Rate These Changes as Threats or Opportunities There is no right or wrong, analyze each one as it may pertain to your business. Some may be both.
  • 15. Your Starting Point: Chapter 3 Position Step 3: Define Your Current Single Sales Objective This Objective must 1. Be Specific and Measurable. 2. Be Tied to a Timeline. 3. Focus on a Specific Outcome in a Specific Account. 4. Be single rather than multiple (no “ands”).
  • 16. Your Starting Point: Chapter 3 Position Step 4: Test Your Current Position “How do I feel right now about closing this piece of business? The Euphoria-Panic Continuum.
  • 17. Your Starting Point: Chapter 3 Position Step 5: Examine Alternate Positions “Once you know where you are, you next want to know where to go.” If you are on the right side, you need to consider positions that will reduce anxiety. If you are on the left side you need to consider options that ensure continued success. Consider changes and ask which ones would make you feel better about your position, then create a plan to bring that about.
  • 18. The Six Key Elements of Chapter 4 Strategic Selling Key Element 1: Buying Influences Economic Buyer- Gives final approval, is a single person or group, can say “yes” when other say “no”, and can veto other buyers approval. User Buyer- Use the product and their success is tied to it, make judgments about impact, there may be several in a sale. Technical Buyer- Screens out options. They focus on the product and service, can’t give final yes, but often give a final “no”. Again, there may be several in a given sale. Coach- Helps you navigate the buying organization and identify other buying influences. May work for buying organization, your organization, or neither.
  • 19. The Six Key Elements of Chapter 4 Strategic Selling Key Element 2: Red Flags/Leverage from Strength Identify missing pieces of information as potential Red Flags. Devise Plan to Leverage from existing Strengths to eliminate these Red Flags and move toward your sales objective.
  • 20. The Six Key Elements of Chapter 4 Strategic Selling Key Element 3: Response Modes Determined by Buyer’s perception of their current situation, how they view your proposal in respect to changing that situation and whether they believe it will close the gap between that perceived current position and the one they wish to attain. The 4 Modes are: Growth Trouble Even Keel Overconfident
  • 21. The Six Key Elements of Chapter 4 Strategic Selling Key Element 4: Win Results “Managing a sale to Win-Win must meet both a Corporate Result, and a Personal Win for each buying influence.” The 4 Potential Outcomes are: Win-Win Win-Lose Lose-Win Lose-Lose
  • 22. The Six Key Elements of Chapter 4 Strategic Selling Key Element 5: The Ideal Customer Profile “Every sales representative you know, no matter how successful, has up to 35 percent poor prospects working at any given moment-that will be impossible to close, or if they’re closed, will eventually become liabilities.” Use attributes or current and past good customers to create a profile to test your current and future prospects against.
  • 23. The Six Key Elements of Chapter 4 Strategic Selling Key Element 6: The Sales Funnel “The Sales Funnel enables you to use your most precious commodity, your selling time, in the wisest and most efficient manner possible.” There are 4 types of selling work and the funnel helps you prioritize that work both in order and in time allocated to each type to close more sales and minimize the Roller Coaster effect.
  • 24. Key Element 2: Red Flags Chapter 6 Leverage from Strength “The people who regularly pull down 200 or 300 percent of their quotas, are those who find the most Red Flags in their accounts.” Automatic Red Flags Critical information missing Uncertainty about information Any uncontacted Buying Influence Buying Influence(s) new to the job Reorganization
  • 25. Key Element 2: Red Flags Chapter 6 Leverage from Strength “Leverage from Strength can be considered the better half of the Red Flag technique.” Strengths Areas of Differentiation (perspective) Improves your current position Must be relevant to this sales objective
  • 26. Key Element 2: Red Flags Chapter 6 Leverage from Strength Eliminating Red Flags Don’t Hammer Away or Ignore the Roadblock Do Leverage from Strength “Look for a place to put your Fulcrum.”
  • 27. Key Element 2: Red Flags Chapter 6 Leverage from Strength Personal Workshop Take your chosen account and identify Red Flags and areas of Strength. Revise your Alternate Positions list using this new information Create an Action Plan to Leverage Strength or Eliminate Red Flags to get closer to reaching the Sales Objective

Editor's Notes

  1. Ray, the incumbant, has deal locked, knows CEO, awaits trigger to be pulled. Greg isolates hidden consultant, Jeff, a former employee who becomes an ally and points him to Division Manager who actually makes decision on this sale. Difference, Strategic Selling.
  2. Technology, Competitive position, product line, etc
  3. Tape vs Basics
  4. Hammonding