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Increasing Sales Productivity ! CPMR January 13, 2010. Frank Foster and Associates Performance and Development Solutions 516 Balliol St. Toronto, ON, Canada 416-492-8064 [email protected] A member of the Canadian Training Network. GBS. General Benefit Statement

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Increasing sales productivity cpmr january 13 2010 l.jpg

Increasing Sales Productivity!CPMRJanuary 13, 2010

Frank Foster and AssociatesPerformance and Development Solutions

516 Balliol St. Toronto, ON, Canada

416-492-8064

[email protected]

A member of the Canadian Training Network


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GBS

General Benefit Statement

“I help people like you make

more money”!


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Selling Has Changed!

  • Customers today don’t want cookie cutter solutions

  • They want professional and knowledgeable partners

  • They’re buying relationships


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Business has changed!

- people want customized solutions

- they expect professional service

- you must be knowledgeable

- they want you to build trust

= Long Term Relationships


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Groceries


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Agenda

Today we will learn:

  • The Facts – the world of selling is changing

  • 5 Common Human Factors

  • What makes you different?

  • Creating Value

  • The Prospecting Process

  • Understanding Different Customers

  • Selling Benefits

  • Managing Major Accounts to Increase Sales Productivity


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The Changing World of Selling- the Facts

–lBuyers are better trained than sellers

– with technology they have access to more information

–l      Buyers talk partnerships not preferred suppliers

–lBuyers will switch suppliers because they feel they are not appreciated

–lAccount Selling Teams must work with Account Buying Teams to succeedand improve profits

–lBuyers sell the close … Negotiate the order!

–lMost Salespeople are not equipped to sell in today’s competitive market – Are you?


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Traditional Selling Model

Rapport

Building

Needs Determination

Solution Process

Closing


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Today’s Consultative Selling Model

Rapport

Building

Needs Determination

Solution Process

Closing


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Two Goals of Every Organization

1.   To acquire and maintain customers.

2.   To sell as much as possible ....

.... at a profit!


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5 Common Human Factors…Things We Know About Change and People That Can Help Us Reach Those Goals


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5 COMMON HUMAN FACTORS

lPeople base many of their decisions on emotion not on logic


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5 COMMON HUMAN FACTORS

lPeople base many of their decisions on emotion not on logic

lPeople use perceptions as facts


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5 COMMON HUMAN FACTORS

lPeople base many of their decisions on emotion not on logic

lPeople use perceptions as facts

lPeople have preconceived ideas


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Zap the Qwerty's


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5 COMMON HUMAN FACTORS

lPeople base many of their decisions on emotion not on logic

lPeople use perceptions as facts

lPeople have preconceived ideas

lPeople don’t read


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It’s not that we can’t read…


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Often it’s because we don’t take the time to read…


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And organizations don’t make it easy …


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Or this one…


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Sometimes we just don’t think about it…


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Visuals work!


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People don't read!Read this sentence -FEWER FUSE FAILURES ARE THE RESULT OF YEARS OF SCIENTIFIC STUDY COMBINED WITH THE EXPERIENCE OF YEARS.Now count all the F's in the above sentence only once. Don't go back and count them again. Write down the number you counted.How many did you count? 


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Ode to the Spell CheckerEye have a spelling chequerIt came with my pea seaIt plainly marques four my reviewMiss steaks eye kin knot sea.Eye strike a key and type a wordAnd weight four it two sayWeather eye am wrong ore writeIt shows me strait a weigh.As soon as a mist ache is maidIt nose bee four two longAnd eye can put the error riteIts rare lea ever wrong.Eye have run this poem threw itI am shore your pleased two noIts letter perfect awl the weighMy chequer tolled me sew.


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5 COMMON HUMAN FACTORS

lPeople base many of their decisions on emotion not on logic

lPeople use perceptions as facts

lPeople have preconceived ideas

lPeople don’t read

lPeople think they are unique and want to be treated that way


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MMFI


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5 COMMON HUMAN FACTORS

lPeople base many of their decisions on emotion not on logic

lPeople use perceptions as facts

lPeople have preconceived ideas

lPeople don’t read

lPeople think they are unique and want to be treated that way


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BUT.........

THE

World of Selling

is Changing

1

1


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Product

Place

C

Price

Promotion

The Four Ps of the Marketing Mix


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USP

  • Unique Selling Points

    Product

    Place

    Promotion

    Price

    What makes us stand out in the minds of our customers?


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PLACE

  • CHANGE


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CHANGE


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Traditional Distribution Channel

Raw materialsGet manufacturedAre shipped to a Shipped to retailGets to the final

wholesale or consumer

distributor


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Today’s Distribution Channel

Bypass channel intermediaries


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Change:

Disintermediation will affect your business.

Pro-act or Re-act!


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Original Rules

Internet Rules

  • Good

  • Fast

  • Cheap

  • Perfect

  • Now

  • Free


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This changes everything!


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BUT….


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High Tech Still Requires High Touch!


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Change:

With comparable products and services, the major difference among competitive offerings can often be the relationships established between buyer and seller!


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People

BUY

From people

LIKE

they


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Often…The most important thing is…

YOU

(insert your picture here)


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Do YOU Make the Difference !


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Change:Unless you learn to sell your unique factors and value-added support services, the price you receive for your products and services will not provide the profitability you want with each account!


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Value-Added Services

Value-added…adds value to the sale. Supports your offering. Enhances value as perceived by the customer.– Value-added services can also be part of your unique factors.

“What you do…for your customer”


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Value

is the relationship between

quality

price

as perceived

and

by the customer.


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Price

is what customers

think about…

when the salesperson gives them

nothing else

to think about.


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Change:

Preparation and pre-call planning will be needed to assure quality sales calls!


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S.W.O.T.

  • Strengths

  • Weaknesses

  • Opportunities

  • Threats


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Strategy Question

Ask Yourself

“What is our greatest strength in the marketplace—the thing that separates us from everyone else—and how can we use that strength to further penetrate the market, without losing ground to the competition?”


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Strategy Definition

  • The organization’s mission, vision, values, and culture

  • Overall organizational goals, plans, and strategies

  • Strengths and weaknesses of your products and services

  • How the products can be differentiated from competitors’ products

  • Strengths and weaknesses of competing products

  • Changes that are going on in the marketplace (customer trends, social change, cultural changes, economic changes)

  • Technology advances


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Competitive Advantage Analysis


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What’s Your Time Worth

Annual salary

+

Commission / Bonus

+

Benefits (Approx. 30%)

= $________________

Divided by

1880 hours

= $_____________/hour


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Where Do You Spend Your Time?


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Who Are Your Buyers?

Multiple Buying Influences

  • User Buyer – asks how does it work?

  • Technical Buyer – wants to know the specifications

  • Economic Buyer – how much does it cost?

  • Coach – how can I help?


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R.O.T.I. - Return On Time Invested

Estimated Value:

Estimated Gross Profits less Required Expenses

= Estimated Value

R.O.T.I. = Estimated value (EV) TIME required to start

doing business


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Fish Where the Big Fish Are!


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Where do you find customers?


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Prospecting – Why Not?


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Fears


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Fear I’ll waste my time – I’m too busy


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Fear of rejection


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Fear of the unknown


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And the silent killer…fear of more work = Procrastination


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THE MARKETPLACE

Suspects

Prospects

Presentations

CUSTOMERS

$

Prospecting Process


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Tips for Prospecting Success

R


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It’s a Process

Ratios - 3:1

Elimination = Progress

Don’t get hung up – move on!

SW SW SW - Next


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THE MARKETPLACE

100 Suspects

Prospects

= 30 Presentations

= 10 CUSTOMERS

= 3 long term customers

Prospecting Process Ratios


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Make the Time20% of your time should be focused on new business developing activities


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Phone Fear!


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Stop Selling!


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Have a Script

“People don’t care what you do….

they care what you do for them!”

- Remember your GBS

  • Planned but not canned

  • KISS

  • Avoid jargon


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Just Do It!

1-2-3 Call!


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VITO

  • Qualify early and often!

  • Make sure you are talking to the right person


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$100,000 Question

Who, other than you, is involved

in the decision making process?


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Move them through the process

  • Yes make you $

  • No makes you $

  • Maybe costs you $


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And Finally…


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Suspects

Prospects

Presentations

CUSTOMERS

$

If you don’t do this …


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THE MARKETPLACE

Suspects

Prospects

Presentations

CUSTOMERS

$

You don’t get this!


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Asking Questions… the Motor of Selling!


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Do you – “Show up and throw up”?


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“Prescription without diagnosis is malpractice”


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"Successful people ask better questions, and as a result, they get better answers." ~~ Anthony Robbins


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Why do we ask questions?RControl the processRFind out information about the customer, their buying motives and their needsRLook for future opportunitiesRBuild rapportRUnderstand buying motives


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“If you don’t know where you are going, you’ll probably end up somewhere else!”

- Yogi Berra


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Commonality

The Golden Rule – “Do unto others as you would have them do unto you.”

The Platinum Rule – “Sell unto others as they want to be sold unto.”


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Commonality

We like to do business with people who have something in common with us.

How do we build commonality?

  • Have shared interests

  • Adopt similar physical appearance and stances

  • Use similar styles of speech

  • Think in ways that are similar to our customers


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OPEN – People Oriented

Relater

Socializer

Slower – Fact oriented

Faster –‘Gut’ oriented

Thinker

Director

CLOSED – Task Oriented

Behavioral Styles“Sell unto others as they want to be sold to!”


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Change:

If you assume buyers know all the benefits and you refrain from using them, you will not justify sales!


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Stress Benefits - not Features

  • Benefits are one of the secrets of successful relationships.

  • People don’t buy features, they buy benefits. They buy because of WIIFM (What’s in it for me)

    People don’t care what you do,

    they care what you do for them!


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Benefits usually fall into these areas:

  • Improve image

  • Save time

  • Increase sales/profits

  • Save money

  • Reduce effort – make it easier

  • Reduce risk – financial, security, safety, etc.

  • Feel better – healthier

  • Self image

  • Comfort

  • Improve the Environment


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Selling Benefits and Value - overcomes the price issue!


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Benefits Sell Value

Cost / Price

Benefit / Value


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Logical ArgumentationA + B = C


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Developing New Customers From Old


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Full line selling Don’t just sell… Upsell!


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Full-Line Selling Protects Profits

Top Customers

Top Products1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

1.________________________

2.________________________

3.________________________

4.________________________

5.________________________

6.________________________

7.________________________

8.________________________

9.________________________

10._______________________

Don’t Just sell…. UPSELL!


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Increasing Sales Productivity

Today we learned:

  • The Facts – the world of selling is changing

  • 5 Common Human Factors

  • What makes you different?

  • Creating Value

  • The Prospecting Process

  • Understanding Different Customers

  • Selling Benefits

  • Managing Major Accounts to Increase Sales Productivity

    AND


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Sometimes you have to be different to make a difference!


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GOOD SELLING!

Frank Foster and AssociatesPerformance and Development Solutions

516 Balliol St. Toronto, ON , Canada

416-492-8064

[email protected]

A member of the Canadian Training Network


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