Create Urgency in the Sales Process

Create Urgency in the Sales Process

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  Sales Solutions 877-862-8631.[email protected]. www.sales-solutions.biz Accelerate Your Sales! Creating Urgency in Prospective Customers Craig James Sales Solutions October 2, 2008
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  Sales Solutions 877-862-8631.[email protected]. www.sales-solutions.biz Agenda Introductions Content Closing Q&A
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  Sales Solutions 877-862-8631.[email protected]. www.sales-solutions.biz What's the Issue? Prospects are taking forever to make decisions “Eager” prospects run out of steam Prospects stop returning calls
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  Sales Solutions 877-862-8631.[email protected]. www.sales-solutions.biz WHY... do deals stall? do I find myself so often chasing “engaged” prospects?
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  Sales Solutions 877-862-8631.[email protected]. www.sales-solutions.biz WHY... do so many of these “engaged” prospects fall into the black hole of “no-decisions?”
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  Sales Solutions 877-862-8631.[email protected]. www.sales-solutions.biz And WHAT can I do about it?
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  Sales Solutions 877-862-8631.[email protected]. www.sales-solutions.biz Why do deals stall? Changing priorities for sponsor (swamped with other responsibilities) Changing priorities for sponsor’s boss Changing market conditions Changing (adverse) economic conditions
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  Sales Solutions 877-862-8631.[email protected]. www.sales-solutions.biz Why else do deals stall? Insufficient need in the first place Never really serious about you – just price shopping to keep their current provider honest
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  Sales Solutions 877-862-8631.[email protected]. www.sales-solutions.biz And why else do deals stall? They’ve decided they can solve the problem on their own (after getting information from you, or your competitors) No agreed-upon cost of doing nothing
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  Sales Solutions 877-862-8631.[email protected]. www.sales-solutions.biz Still other reasons deals stall The prospect favors a competitor because Their solution is in fact superior to yours in the areas important to the prospect A competitor’s salesperson was more skilful than you at selling. In other words, you were outsold • You did not uncover needs and motivations • You were not persuasive in your presentation • You were ineffective at addressing objections • The prospect deems their solution to be superior to yours, even though it’s not (the prospect has a misunderstanding you haven’t addressed)
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  Sales Solutions 877-862-8631.[email protected]. www.sales-solutions.biz What can I do about it in the initial stages? Ask deeper discovery questions Turn the tables on your prospects • are you right for us?
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  Sales Solutions 877-862-8631.[email protected]. www.sales-solutions.biz Asking deeper discovery questions Why do you need this? Why do you need this now? Why not 6 months or a year from now? Why not 6 months or a year ago? Could you do without it? If not, why not? What priority is this for you? What priority is it for the decision-maker (if they're not one and the same)? Is there any reason you would decide to do nothing? What's the potential cost of doing nothing? What are your top 3 buying criteria?
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  Sales Solutions 877-862-8631.[email protected]. www.sales-solutions.biz What can I do about it in the later stages? after you've made your formal presentation after you've presented your proposal
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  Sales Solutions 877-862-8631.[email protected]. www.sales-solutions.biz If you’re able to reach your sponsor Ask questions that uncover the real reason for the indecision/delay Reiterate the consequences of doing nothing or of delaying Find out where you stand, and why
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  Possible Outcomes Reason Changing priorities Changingmarket or economic conditions Insufficient need or never serious Believes they can solve on their own Action Remind them of the cost of doing nothing Offer to do more of the leg work Scale back the scope (& cost) of the proposal Too late! You must determine this up-front Tactfully plant seeds of doubt that they can
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  Possible Outcomes Reason They favora competitor Superior offering Superior skill Understood needs better Made a more persuasive presentation Addressed objections better Misunderstanding Action Too late! Must determine up-front Get coaching or training Get coaching or training Get coaching or training Get coaching or training Correct the misunderstanding
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  Sales Solutions 877-862-8631.[email protected]. www.sales-solutions.biz If you’re unable to reach your sponsor after several tries Reach out to another contact to “get the skinny”. “I suspect/My understanding is that your organization is leaning towards xyz competitor. Is that correct?” Send a "surrender" letter to your primary contact
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  Summary The best wayto create urgency is to determine/create it up-front Many factors you can influence; some you cannot. Focus on those you can Determining the reason for the stall Implement appropriate tactics if a competitor is favored, find out why and try to turn the deal around if no competitor is favored, uncover the deeper reason, reminding the prospect of the cost of doing nothing
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  Sales Solutions 877-862-8631.[email protected]. www.sales-solutions.biz Closing Q & A
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  Sales Solutions 877-862-8631.[email protected]. www.sales-solutions.biz Sales Solutions Service Offerings Sales Consulting Sales Process Improvement Skill Improvement/Enhancement One-on-One Sales Coaching • In-person or phone
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  Sales Solutions 877-862-8631.[email protected]. www.sales-solutions.biz Accelerate Your Sales! Craig James Sales Solutions 877-862-8631 www.sales-solutions.biz [email protected] Sign up on our web site to receive our free monthly e-newsletter!