How to Win New Accounts! Presented by: Neil Grant MSc. C.Eng. - - PowerPoint PPT Presentation

Presented by: Neil Grant MSc. C.Eng. MIMechE Managing Director Strategic Maintenance Planning Ltd.

The Strategic Sales Cycle

How to Win New Accounts!

Source http://www.steveschiffman.com/

An understanding

Today is about sharing my experience, I’m not a business coach neither do I offer sales training outside of our company. I have spent many years researching sales processes and found this one offers a complete solution from lead generation to account. Please also remember I sale B2B for which this process is focused but I hope there will be one or two points of interest for those of you selling B2C, C2C or C2B.

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Reference Material

The founder of this process was the CEO of DEI Management Consulting - Steve Schiffman and the following is my interpretation of his process. As well as listening to hours and hours of tapes, attending seminars and inviting him to our

• ffice for a presentation, I can highly recommend the following books, penned by the man

himself:

• Make it your Business
• Cold Calling Techniques (that really work)
• How to Give a Power Sales Presentation
• Negotiation Techniques
• 25 Toughest Sales Objections
• 25 Most Common Sales Mistakes
• Closing Techniques (that really work)

All can be found on his website http://www.steveschiffman.com/

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So what are the challenges of running a small business?

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Small Business Challenges

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Here Be Dragons!

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What does Nirvana look like?

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An understanding

So how do you overcome this ‘peak & trough’ scenario

Well a hose is better than a glass of water!

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Think of sales and marketing like a thirst. You need a drink so you fill a glass of water, you decide you don’t want to walk to the tap for a glass of water so you use a hose to fill it, eventually you decide turning the hose on and off is effort, so you leave the hose drip feeding the glass at just the right pace to keep up with your thirst and there you have it………. sales and marketing is just like a thirst, drip feed it constantly!

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The Strategic Sales Cycle How to win new accounts

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The Strategic Sales Cycle

1/3 Order Taking No Chance Up For Grabs

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The Strategic Sales Cycle

1/3 Order Taking 1/3 No Chance Up For Grabs

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The Strategic Sales Cycle

1/3 Order Taking 1/3 No Chance 1/3 Up For Grabs

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The Strategic Sales Cycle So how do we close the 1/3 up for grabs?

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Contact Type The Call / Contact Appointment Interview Presentation Close Cold Referral (Mr. Smith gave me your details...) 3rd Party (just finished a project for…) Follow Up Step 1 - Qualification Step 2 - Understand (Past, Present & Future) Step 3 - Proposal (Features, Benefits & Proof) Step 4 - “Ask” (Presumptive Sell)

The Strategic Sales Cycle

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Contact Type The Call / Contact Appointment Interview Presentation Close

Lead Prospect Account

The Strategic Sales Cycle

Learn your conversion ratio

20 Leads = 5 Prospects = 1 Account

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The Strategic Sales Cycle

You’ll notice that the conversion ratio 20:5:1 highlights that you’ll experience the word “NO” many times before closing an account

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The Strategic Sales Cycle

A ‘NO’ is a very good thing, it takes you 1/19th closer to a ‘YES’ Also don’t be afraid to invoke the 3 strike rule!

It’s all to easy to keep chasing rainbows.

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Contact Type The Call / Contact Appointment Interview Presentation Close Cold Referral 3rd Party Follow Up Step 1 - Qualification Step 2 - Understand (Past, Present & Future) Step 3 - Proposal (Features, Benefits & Proof) Step 4 - “Ask” (Presumptive Sell)

The Strategic Sales Cycle

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The Call

Structuring a Call - 5 Key Steps 1. Attention

• Mr…….

2. Identify

• Mr… of SMP Ltd.

3. Reason

• To make an appointment

4. Qualify

• Statement (Cold, Refer, Third, Follow Up)

5. Appointment

• One time only.

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The Qualifying Statement

Cold Call Statement:- …….the reason I’m calling is to fix an appointment, so I could stop by and tell you about how our maintenance management solutions can help improve plant efficiencies by about a third. Mr…. I’m sure that YOU, like a lot of our clients (name relevant) would want to improve efficiency, can we get together next… at... Referral Statement:- …….just spoke to Mr….. he said you were the right person to speak to. Can we get together next…. at… What is it?…. - Go to third party statement. Third Party Statement:- …….the reason I’m calling is we’ve just completed a very successful maintenance management program for (name client). It was very successful in improving plant efficiency by about a third, can I drop by next….. at….. to tell you about the successes we had with them. Follow Up Statement:- …….the reason I’m calling is when we spoke “last”, “before” (Christmas etc), you suggested I call you today (1st Sept) to fix an appointment. Can we get together next…. at….

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Objections

Objections Turn Them Around A lot of companies have said the same thing UNTIL they had the opportunity to:- See the benefits See how we can finance See how it can complement See the difference Let’s get together next……at……

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Avoiding Literature

I’d really prefer not sending anything. Can we get together instead next …. at …..

The Ledge - Avoiding Long or Non-productive Calls

Use the first negative to get out A lot of companies have said….. Can we get together next…… at….

Objections

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Voicemail

Voicemail - USE ONLY ONCE

Hello Mr….. This is Mr….. Of SMP Ltd. 01793 823013, the reason I’m calling is they said you were the right person to talk……..

CUT OFF

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Objections

Dealing with Objections during the ‘Interview’

• r ‘Presentation’ need a little more thought!

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Objections

Objections are Essential in Every Sale!

• Embrace the objection
• Anticipate & Prepare – Typically you’ll only find 10 objections, put in different ways
• All objections are in ‘KIND’ and represent your conversation
• Don’t take the 1st objection as the truth, move to the truth by asking:

– “tell me what you mean by that?” Remember……..

• Change the Status Quo - A Sales Person is an ‘Agent of Change’, SOLVE PROBLEMS

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Contact Type The Call / Contact Appointment Interview Presentation Close Cold Referral 3rd Party Follow Up Step 1 - Qualification Step 2 - Understand (Past, Present & Future) Step 3 - Proposal (Features, Benefits & Proof) Step 4 - “Ask” (Presumptive Sell)

The Strategic Sales Cycle

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“Would it help to tell you about myself and the company?” The ‘Start’ Pleasantries over, how to begin Commercial, cut short “What are you trying to achieve?” Listen Appointment Present Proposal

The Interview

What / How / When / Why / Who Past, Present & Future Takes notes for solution (Opportunist) “Based on what we’ve discussed today there are a number of options, let me work on this and develop some ideas on how your Co. could benefit from what we have to offer” No No Oh, why not?

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Contact Type The Call / Contact Appointment Interview Presentation Close Cold Referral 3rd Party Follow Up Step 1 - Qualification Step 2 - Understand (Past, Present & Future) Step 3 - Proposal (Features, Benefits & Proof) Step 4 - “Ask” (Presumptive Sell)

The Strategic Sales Cycle

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The Presentation

The Start Features, Benefits Proof Adaptation Intuition Open Ended Not Scripted Review Proposal Verify it’s right Apply the 7 Commandments

• 1. Listen
• 2. Don’t misquote
• 3. Don’t argue
• 4. Don’t Interrupt
• 5. Offer Proof
• 6. Help the Prospect
• 7. Eye contact

Be sure to incorporate your schedule “…and bearing all these obstacles in mind, we estimate that we’ll be able to do the the job in three months. We propose beginning 1st March and finishing 1st June?” “…One of you aims was to keep the project under £50K due to budget constraints. We’ve concluded this is possible and our price for the entire job is £45K, with staged payments” Be sure to incorporate your costs Move to Close

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Contact Type The Call / Contact Appointment Interview Presentation Close Cold Referral 3rd Party Follow Up Step 1 - Qualification Step 2 - Understand (Past, Present & Future) Step 3 - Proposal (Features, Benefits & Proof) Step 4 - “Ask” (Presumptive Sell)

The Strategic Sales Cycle

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The Close

Verification The Presumptive Close “ASK” “This program makes a lot of sense to me. I think your Co. could benefit a lot from working with us. What do you think?” Objection Down Scale Model

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Downscale Model

Downscale:- …….I can certainly understand your hesitation on the J101, £7,000 Is a lot of money, but you know, a lot of customers felt just the same way until they learnt about the J202, which delivers great performance at very competitive pricing, what do you think?

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The Close

Verification The Presumptive Close “ASK” “This program makes a lot of sense to me. I think your Co. could Benefit a lot from working with us. What do you think?” Objection Down Scale Model Future Response

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Future Response Model

Downscale:- …….I can certainly understand your hesitation on the J101, £7,000 Is a lot of money, but you know, a lot of customers felt just the same way until they learnt about the J202, which delivers great performance at very competitive pricing, what do you think? Future:- …….One of the reasons I’ve tried to wrap this up for you is to lock in the

• rate. It seems every other month our accounts raise the prices on us and I know

you want to avoid that. Now because I can still guarantee this price for you, I think it would make a lot of sense to get started, what do you think?

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The Close

Verification The Presumptive Close “ASK” “This program makes a lot of sense to me. I think your Co. could Benefit a lot from working with us. What do you think?” Objection Down Scale Model Future Response Incentive Response

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Incentive Response Model

Downscale:- …….I can certainly understand your hesitation on the J101, £7,000 Is a lot of money, but you know, a lot of customers felt just the same way until they learnt about the J202, which delivers great performance at very competitive pricing, what do you think? Future:- …….One of the reasons I’ve tried to wrap this up for you is to lock in the

• rate. It seems every other month our accounts raise the prices on us and I know

you want to avoid that. Now because I can still guarantee this price for you, I think it would make a lot of sense to get started, what do you think? Incentive:- …….Well as you know, I firmly believe that you’re going to find that our Products/services will make your operation more productive. So here’s what I can do to get you started, why don’t we think about giving you a free service contract In the first year, what do you think?

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The Close

Verification The Presumptive Close “ASK” “This program makes a lot of sense to me. I think your Co. could Benefit a lot from working with us. What do you think?” Objection Down Scale Model Endorsement Response Future Response Incentive Response

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Endorsement Response Model

Downscale:- …….I can certainly understand your hesitation on the J101, £7,000 Is a lot of money, but you know, a lot of customers felt just the same way until they learnt about the J202, which delivers great performance at very competitive pricing, what do you think? Future:- …….One of the reasons I’ve tried to wrap this up for you is to lock in the

• rate. It seems every other month our accounts raise the prices on us and I know

you want to avoid that. Now because I can still guarantee this price for you, I think it would make a lot of sense to get started, what do you think? Incentive:- …….Well as you know, I firmly believe that you’re going to find that our Products/services will make your operation more productive. So here’s what I can do to get you started, why don’t we think about giving you a free service contract In the first year, what do you think? Endorsement:- …….As I mentioned earlier, Mr. … over at …. Co. is very happy with his J101 why don’t I arrange a conf call to give you a chance to speak with him about his experience with the product/service, what do you think?

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The Close

Verification The Presumptive Close “ASK” “That’s our proposal. I’ll be very frank with you; it seems to me that we could really benefit from working together. What do you think?” Objection Down Scale Model Endorsement Response Future Response Incentive Response GO!!! Yes

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Key Points

Key points from today’s presentation:

• Sales and marketing is like a thirst ‘drip feed it constantly’
• Know and strive to improve your sales ratio (20:5:1)
• A ‘NO’ is a very good thing, it moves you 1/19th closer to the next ‘YES’
• Your ‘script’ must become second nature, as it does for all great actors
• The ‘call’ has one purpose, to fix an appointment
• Listen and be opportunistic during the interview
• Don’t sell your products and services, offer solutions
• Ensure your proposal focuses on the ‘benefits’, ‘features’ & ‘proof’ of your proposed solution
• Be positive about your presumptive sale, after all, you’re offering solutions to their problems
• Don’t fear objections, they uncover ‘truth’ and move you nearer to close
• Never leave a meeting without agreeing your next appointment
• Always consider how you can convert a sale into ‘recurring income’

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Thank you for your time and I hope you’ve found something of interest from today’s presentation.