The Sales Process is your guide; your step-by-step road map to sales success.  To reach any goal or objective with consistency, you need a plan.  The Sales Process is your plan, your blue print on how to turn a lead into a prospect, motivate a prospect to become a customer and help a customer become a long-term client.  The Sales Process is like a funnel, where in you will deposit as many “raw subjects” as possible in the top of the funnel.  Then, each “stage” of the sales process filters and refines these subjects, finally producing a smaller amount of sales. 

Professional selling is a business and a science and to be successful you must work efficiently.  A properly designed sales process will help you identify obstacles and problems within your sales system.  When sales are slow, it is not always due to poor closing rates.  A properly designed sales process will allow you to identify the obstacles that clog your sales funnel and cost you time and money.  If you design and follow a comprehensive sales process, you will move prospects systematically from “contact” to “sold” with efficiency.    

Over the next few posts, I will help you design your own sales process that you can customise to fit your exact selling situation and cycle. 

Step I: The Total Sales Cycle Time 
The first step in designing your sales process is to determine the optimum desired amount of time your sales cycle should take from beginning to end.  In other words, if everything went perfect, from start to finish, how long should the sale take?  How long should it be from the time you first acquired the lead or contact information, to the time you close the sale and receive the payment?  

Short or Long
It does not matter if you work on a one-call close or a multifaceted, inter-departmental, sales cycle that takes several months.  In either case, determine the optimum, best-case scenario.  In addition, you need to include everything that completes the sale in this time line.  If there is financing involved, then the sale is not complete until the funds are in place.  Include all of the logistics; delivery, set up, installation, etc. 

Figure out what is the length of time the sale should take from beginning to end.  

Lastly, this length of time has to be a realistic figure.  Do not use a figure that represents dreams and wishes.  Use real life examples and case studies to make this determination.   Once you have a set length of time the optimum sales process should take, then you have something to compare all sales to, as they move through the process. 

Next, Part II – The Sales Stages
Posting September 21, 2011

Happy Selling!

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…

Appointments that cry off at the last minute will cost you a great deal of money.  In addition to the time you spent to set the appointment, now you have travel time, gas and a host of other less tangible expenses.  Depending on your business, it may be impossible to eliminate canceled appointments completely.  However, you can greatly reduce them and diminish their effect on your sales process and income.   

Phrase the Appointment Differently
One way to help make appointments more solid is to phrase the appointment differently than normal. When you make an appointment over the telephone, where you are going to go see the prospect, as you are confirming, it may sound something like this:

“Great.  So Mr Prospect I will see you at your office on Tuesday, the 25^th at 3:00 p.m.” 

The problem is that often when you are to go meet the prospect, the prospect does not get a clear mental picture of an appointment.  In many cases, the prospect does not have to go anywhere or do anything.  The prospect will go to work as normal because you are coming to see him or her.  The prospect often feels as if he or she has no responsibility. 

Alternatively, if the prospect has to go somewhere to meet someone, the appointment takes on a different meaning.  So, when setting an appointment where you are to meet at the prospect’s place, simply turn it around and still ask the prospect meet you.  Here is an example:

“Great.  So Mr Prospect, we are set for next Tuesday, the 25^th at your office, and you will meet me there at 3:00 p.m., is that right?”  

Just have the prospect meet you even if you are going there.  This subtle change gives the appointment a different, more important feeling. 

Set Irregular Times for the Appointment
Another highly effective way to help keep more appointments from failing is to use off times for the appointment.  Instead of the traditional on-the-hour or on-the-half-hour times, try to set appointments for 15 minutes before the hour, or 20 minutes after.  As an example:

“Great.  So Mr Prospect, we are set for next Tuesday, the 25^th at your office, and you will meet me there at 2:45 p.m., is that right?”  

This approach not only makes it much harder to forget the appointment, but it also gives the impression of an easy, short meeting.  In addition, this gives you the image of a very busy VIP, whose time is extremely valuable and who schedules his meetings to the second. 

When Possible, Have the Prospect Direct You
In the modern day of things like Google Maps connected cell phones and Map Quest, people seldom ask directions.  However, asking for directions to the meeting place is a great way to help solidify the appointment in the prospect’s mind.  Ask for precise directions and if the meet is in an office building, then ask for directions once you are inside the building.   

Follow the above three lesser-known tips and you will have more completed appointments, more closing attempts and more sales.

Happy Selling!

Sean

Sean McPheat
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…

How many times have you been with a prospect and everything seemed to be going right? You know the feeling…you’ve done your homework, you’re getting good vibes, they’ve made the decision and it looks like a good business relationship is about to start. The only thing they need to do is sign on the dotted line to confirm.

Now let me ask you…how many of your sales in your pipeline actually end up with no decision? With most salespeople, this figure can be as high as 50%. The stalled decisions, as they are known, can be the downfall of many sales people, and most don’t spend the time and resources on these opportunities.

You might have made the calls, sent the emails, done everything to try to get that last movement…but nothing happens. What can you do?

Here are five possible explanations for why a sale may be stalled;

1) Lack of perceived value. When you have too many things to do in the day, how do you decide which ones you will prioritise above the others? You do so in order of their value or the benefits you will gain by achieving those goals. Your prospects do similar things when weighing up your offer.

Ask, can the prospect articulate the value of what your offer will do for their business? If your offer doesn’t hit one of their top five business issues at the moment, they will likely stall the decision or at least postpone it until it does raise itself as a valuable issue to be dealt with. Make sure, then, you ask the prospect how the issue will be solved with your products or services. this puts it high on their agenda list.

2) Lack of differentials between you and the competition. Because of this, the prospect will spend time evaluating the differences and, hence, stall. If they can’t see the differentials very clearly, it may come down to price.

3) Lack of attention to a crucial business issue. Your solution has to hit hard at some of the challenges the prospect is facing now. If they can’t see how it will solve a specific problem or open up a big opportunity for them, they are less likely to see how your solution will work for them. They may say all the right things at the meetings, but find it hard to make the final decision because they’re not sure the spend will achieve things they haven’t already got.

4) Too big a risk. If they are already using someone else to supply the product or service, they may think the risk of changing supplier (or even adding your name to the supplier list) may be a step too far. They simply don’t want to make a mistake. You need to minimise the effect of any risk by giving testimonials, demonstrating your capabilities, offering guarantees or warranties, or free trials that will prove the capability at little or no risk.

5) Lack of decision-making authority. Many prospects like you to assume they are the key decision-maker. But the stall might be caused by them having to collaborate with other team members, and this may take some time. Ask your prospect at the meetings you have how decisions of this nature are made within the business. If other people have to be involved, see if it’s possible to get them involved as soon as possible in the process.

By finding out the true reason for the stall, you can then create a strategy to go forward with the sale and put more energy into the process, firing up the movement in the sale where the brakes were applied before.

Happy Selling

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…

I recently came across a simple formula or platform for success in sales. Well, it was sold as a simple formula, but it’s anything but simplistic. Here it is:

Success = Attitude + Skills + Process + Knowledge

What are those four components for sales success?

Attitude: You will know that your attitude will determine your altitude, and it’s especially true in today’s environment. Your attitude can be seen a mile off, and if you don’t believe it, just try expressing any thought, negative or positive, and identify the effect it has on you and others around you.

The skilled salesperson will choose their attitude and the effect it has on them, rather than the other way round. If you choose to treat every opportunity with respect and treat it as a chance for learning, you give yourself the prospect of laying the foundation for successful interactions.

Skills: A skill is something you can learn and develop over a period of time to increase your effectiveness. So, learning a sales skill helps you sell more. What would this include? Rapport-building skills help you build relationships. Listening skills help you learn more. Questioning skills elicit more information. These are skills that will take you further towards success.

Process: This is the consistency of flow that your sales values and ideology go through. If the flow is incorrectly put together or lacks certain conditions at vital points, your chances of success diminish. You must have a process that you can work to. This doesn’t mean a scripted outlook; instead, it can be a flexible driver of conversations that take you from inquisitive sales person to competent partner. Make sure your process is up-to-date and effectively enhances your offers.

Knowledge: The top salespeople we come across are ravenous learners. they devour information and look constantly for new ways to enhance their knowledge. Whether it’s the product or service they sell, or the industries they are selling into, or the companies they are courting, or their own personal development, top salespeople are always on the lookout to succeed in the key area of learning and knowledge.

Take a look at how committed to success you are by rating yourself against these four competencies. Be honest with yourself and identify where you could be creating more opportunities for yourself to succeed.

Happy Selling!

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…

What strikes me as strange and rather puzzling is a piece of research I read this week that said less than 10% of salespeople actually follow up a prospect more than once after they have sent a proposal.

I had to read that twice before it sunk in. What causes it? Lack of time? No desire? Carelessness? Laziness? I don’t know the real reason, and there might be many, but I certainly know that the majority of sales people have not been taught how to do it effectively and efficiently.

Is it worth learning? I think it is, so here’s some steps that will help you make following up a natural part of the sale for you:

1. Ask exploratory questions that give you a reason to follow up. Make these questions hard-hitting, based on the pain your prospect is currently going through or the opportunity you might be able to provide. Help them make the decision to at least talk further with you.

2. Make what you and your company have to offer the customer absolutely compelling. Your uniqueness has to stand out to them, and the follow-up must build on the platform you originally built with them. If they are thinking of using the competition, this is the time to make your unique proposition very personal and specific to their business.

3. Show the prospect that you are the right partner for their business. Partnerships grow from small beginnings and there are many opportunities during follow-up to help them see how the link with your company can be good for both of you. You will have had the chance to find out more about the company following your first contact(s) so use the extra knowledge to convince them you and they would look good together!

4. Speak to your customers’ dreams and aspirations. People buy when they see a brighter and better future with your product, so paint pictures with your words that add sizzle to the substance of what you offer. If they see things so much better because of being in partnership with you, then you’ve brightened the image they had of you when you first met.

5. Don’t give up too early. Too many salespeople will make one or two calls to follow-up, leave a non-returned voice-mail and think it’s dead as a dodo. Instead, make a commitment to try a few ways to contact them. I sent a note with a chocolate foot in the envelope to a prospect. I wrote on it that it was my way to get a foot in the door. This humorous element was appreciated by the prospect and they got back to us.

You might try calling, faxing, texting, tweeting them, dropping a line on their linked-in page, emailing them, sending a postcard, calling in person…do whatever it takes, and learn from the experience. Track the results of what you do and continue to do what works for you.

Happy Selling

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…

Have you ever met with a prospect and got on really well, then it ends up that they never return your calls or emails and you can’t get in touch with them?

How frustrating is that?!

There are many reasons why this may occur, but here are three myths about relationship selling that might explain them.

Firstly, the relationship that you may think you have with the prospect may not be what is in their minds. Remember that clients buy for emotional rather than logical reasons, that is, they buy from the provider they have the best feeling about. Even if you have the best price, they may well go for the company that allows them to take less risk, or provides better marketing opportunities for them.

Secondly, you might have assumed that you had sold your services because there had been no objections. But, think about it…haven’t all your previous clients had a least some questions before they signed up? No objections are a warning sign.

Thirdly, they say all the right things, and you mistake them for buying signals. There may be various reasons for this, but you have to see through them. Perhaps they are just covering for the real decision-maker. Or perhaps they like you and don’t want to disappoint you at the meeting, even though they have no intention of buying.

You may have been hooked on the relationship sell so much that you miss the fact that the prospect has a different agenda and may be leading you in the wrong direction.

Don’t get me wrong, the long-term relationship is the most important thing you can build up with a client. However, don’t put that forward as the be-all-and-end-all of the visits you make to the prospect. Don’t turn the visit into a ‘friendly’ call…make it business-like, cordial and engaging.

Aim for commitment as well as building the relationship. If you do that at each meeting, the prospect will recognise you as someone who is friendly, intelligent AND the kind of person they want to do business with.

Next time, don’t get hooked in to the idea that building the relationship is of paramount importance…it’s vital, but needs to be driven in cohort with the business that you are there to conduct. Be direct and ask for specifics. If they tell you they would like more details, ask for clarification. Ask how the order will be placed, what quantities will be involved and so on. View the smoke screens as exactly that…a screen that needs to be seen through.

Build relationships alongside sales; that way, you will bust the main myths about relationship selling.

Happy Selling

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…

We’ve all been told that buyers these days are only interested in price.

Well, if that’s what you really believe, you will be right. You’ll attract that response as soon as you open your mouth.

However, our research has shown that there are a great many buying motives that buyers display…and if you are able to tap into these, it will not only cast doubt on your firmly-fixed belief systems, but also may open up more opportunities for you to work with.

Some of those buying motives are listed here:

Ambition
Status
Ego
Greed
Security
Fear of loss
Prestige
Pride of ownership
Desire to have ahead of others

Now, just imagine if you had started talking about price before identifying what the customer was really motivated by.

And remember, when the customer brings up price, it may be a cover-up for one of those listed above. For example, they may talk price because they are simply greedy and want to have what you have for the lowest possible price. That greed might be better served some other way, with heavy discounts for ordering more.

Again, the price issue may come up because the prospect may want his ego stroked, and thinks that a low price will be the best way to achieve that particular goal. If you can find another way of boosting that ego without having to resort to giving away your product, you may just about have saved the day.

You can check their buying motives by simply asking, ‘what’s most important to you in a product like this, Mr Prospect?‘

This gives you their true motives. If they say ‘price’, question if they mean the cheapest or the best value. It will help you gain clarity on the very generic idea that they always buy the cheapest. A quick look around his office will prove that isn’t the case, as you spot a really good quality printer, phone system and mobile phone.

So, keep a lookout for their true buying motives, some of which will be hidden under their need for a good price.

Happy Selling!

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…

How do you react when your customer requests a discount?

Usually, we react in one of two ways…either with disappointment that we hadn’t built up the value in the customer’s eyes before discussing price, or with anticipation that we may get a sale if we both negotiate to an agreeable figure.

How about trying something different to keep the customer’s mind away from discounts and onto something more advantageous to both of you?

Instead of offering discounts, how about offering bonuses?

Discounts are price reductions and lower your profit margins; bonuses are earned by the customer, rewards for performance and maintain the value of the service you are offering.

When you’ve offered a discount, it confirms a lower price can be maintained in the future, and sets a precedence for future business with you. But the expectation of a bonus encourages the customer to do more.

Here are some more advantages of offering bonuses to the customer:

They maintain the base price
They can be based on a quantity you are trying to achieve
They can encourage a customer to go for a threshold level they hadn’t thought of before
They don’t set a future precedent
They don’t have to be monetary
You pay the bonus after the order and payment, rather than up front

All these encourage the customer to think of benefits they will get rather than how much they can reduce the costs. They also help you to concentrate on offering value rather than devaluing your services, which is what discounts inevitably end up doing.

Happy Selling!

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…

One of our trainers asked delegates on a recent open sales course, when was the sale actually completed and finished?

All the delegates volunteered that it was when the prospect said ‘yes’ to the sale. This was termed the ‘close’, and we could heave a big sigh of relief and tick another one off our checklist.

However, I came across an interesting definition the other day during some research. I looked up the phrase ‘follow-through’ and it was defined as “the act of continuing an task to completion, to its natural end”.

According to this thought, the ‘close’ is not the ‘natural’ end of the sale. Especially if you’re looking for repeat business.

One delegate was asked how he follows through with customers who have bought. He said that he logs their buying cycle and diarises a call-back three months before they are ready to buy again. Mmmm!

Well, for most salespeople, selling requires constant cultivation in order to keep the relationship growing.

Ask, “What actions can I take to strengthen this connection and move towards a natural end, or the next natural level?”

Follow-through is what you do to build the strongest, long-lasting relationship with your client. Think about these ideas:

After gaining agreement, follow-up with a letter to confirm the arrangements. Send a hand-written, personal thank-you note to your client (which of your competitors would do that?). Send articles of personal and professional interest to your client. Ensure all deliveries and service agreements are delivered on time. Find out the best way your new customer wants to be contacted.

The benefits of effective follow-through are:

* You can provide additional information as and when it’s needed

* You can discover steps to assist in your customer’s business growth

* You can differentiate yourself from the competition

* You can build trust in the long-term, so when the time comes for renewing the contract or changing for something new, you are first on their mind.

By following-through, you go beyond expectations and help the customer see they made a great decision in choosing you. And that can only be good for business!

Happy Selling!

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…

People buy from you because of who you are, right? That’s what most buyers tell us.

You’re impression on the customer can make or break a sale. Even if you have the best product and service, even if you’re the best value, even if they would be foolish to go with anyone else, you can be that differentiator in the end.

So, when you’ve made the opening call and the customer is still thinking about it, how can you stand out when you follow up?

Well, don’t do what 99% of other salespeople would do. Do what the top 1% do!

First of all, have a system for following up. Don’t simply leave it to chance that you’ll remember to do it. It doesn’t matter whether you use a paper-based system or a technologically advanced one…just have one!

Whether the call was successful or not, follow-up professionally and quickly in order to stand out from your competitors. Here’s my advice:

Send an e-mail within 24 hours of your first visit. This could be a simple “Thank you” note. You can thank your prospect for anything except his time. You want to avoid thanking people for their time because that’s what everybody else does.

Say thanks for introducing you to the decision-maker, showing you around the office, giving you valuable information so you can help them overcome some of their challenges…be specific in your thank-you email, so they know it’s personal, not a cut and paste job from a previous email you sent someone else.

Now, here’s the bit that will really make you stand out. And don’t tell me you haven’t got time to do this, because that demeans your prospect, yourself and your chosen profession; three or four days later, send a handwritten note.

Imagine your prospect has his or her post in front of them and they’re sifting through it all. They come across a hand-written envelope with their name neatly written on it. Which of the letters do you think they will open first. I’ll leave you to guess!

What the note says, of course, depends on your particular situation. If your prospect agreed to a second meeting, your hand-written note could simply confirm the meeting date and time. If they have agreed to read your notes or brochure, simply thank them for doing so. It will make an impression because it’s different. Especially if you write it in ink! Boy, will that make you stand out! Oh, and remember to put in your business card.

Then, 7-10 days after the first meeting, send another  note with an article, business message, web-link or anything relevant to the business the prospect is in. It doesn’t have to be long or detailed; just something simple, like “I know this will interest you” and attach your card.

Imagine doing this with all your prospects. Will you stand out? Will you make an impression? Will you be different to the majority of your competitors? You bet!

And that can only be good for business!

Happy Selling!

Sean

Sean McPheat
The UK’s #1 Authority On Modern Day Selling
MTD Sales Training

Have you downloaded my latest report “The Sales Person’s Crisis”? Over 10,000 sales pros have.

Click on the image below to find out why you’re very existence as a sales person is in doubt…