BET 430 lecture 5 - sales playbook PDF

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sales playbook...

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BET 430 – Tuesday February 4th, 2020 Business Marketing: - Advertising - Publicity - Brochures - Website/SEO Individual Prospecting - Personal Network (COIs – centre of influence) - Industry network – have to get involved and become familiar with faces in the industry - Community Network – bringing value to my community (fundraising, charity) will bring value to my business - Your Relationships! Prospecting is the Foundation of Selling - Why Prospect? o Fill your prospect funnel to find new customers o Quantity and quality improve your conversion ratio o Replace customer lost each year (think long term) - How do you lose customers? (churn) o Price o Bakrupty o Mergers o Relocations o Death o Poor economic conditions o No longer need product o Competition takes over Key steps before a sales presentation - You always have to find potential customer willing to see or hear your sales presentation - Prospecting  obtaining an appointment  Preapproach Planning Decide on your reference terms - Lead is a potential customer; a suspect, not a prospect - Prospects and Marketing Qualified Leads (MQL’s) are the same – they are responding to marketing - Textbook definition of a qualified prospect is MAD o Money to buy, Authority to buy, Desire to buy o I use Sales Qualified Lead (SQL) who has BANT  Budget, authority, need, timeframe Planning a prospecting strategy

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Meeting strangers and asking them to buy is very uncomfortable for most people You need a prospecting strategy that works for both you and the customers *involves evaluating methods that are most effective for your business*

What Comes First? - Not all Leads are created equal - Qualify and prioritize leads o Research the company and/or individuals o Look for key criteria that make the more likely to need your products or services o Know their buying cycle (consumer buying trends) o This saves you time and give you quality leads!! Determine motive means and opp -

Determine WHY and HOW they will ultimately buy. Can they be “closed”? Motive o Are there compelling circumstances? Means o Can they actually afford/pay for it? Opportunity o Once motive and means are identified, it is worth your time and effort to give them the opp to buy

Ideal Prospects: B2B Build a profile of the key characteristics for an ideal B2B prospect: - Company size and typical budget? - Current comp supplier? - Economic/market conditions? - Compelling problems? *Develop a marketing prospecting plan by learning: What do they read, attend, belong to and who influences them? – this way you can get in front of your consumers in a personal way. Influencers in B2B – they are constantly reviewing whats new in the industry to update followers E-Prospecting and List Building - Using the internet to find prospects o Individuals o Organizations - Prospecting using Social Media o Fb, linked in, twitter (looking for the ones that fir your criteria) - List Building

o Profit 500 fastest growing companies o Business directories o List builders like Upwork Lead generation Inbound – Leads that come in through brand awareness marketing using SEO, SEM, advertising, social media and published articles Outbound – leads that come in through a series of prospecting campaigns using email, direct mail, phone calls and trade shows -

If you have a strong inbound strategy, then your outbound strategy has a higher chance of being effective

Where does prospecting fit? (picture) Get your message right - Value proposition – benefit first they don’t care for the tech - WIIFM – what’s in it for me? - USP – unique selling proposition - Value - Results - ROI - Problem/Pain - Opportunity/gain - Call to action? What do B2B customers want? Examples: - Increased revs - Faster time to market - Decreased costs - Better use of limited resources - Increased market share - Decrease employee turnover - Improved customer retention levels - Higher profitability Value Propositions Value propositions are unique to each customer:

For target customer who has/have need/problem the product/service is category that delivers key benefit/compelling reason to buy Here is an example of CRM sales to SME’s that was based on market research: For business owners who often stay late at night sorting through a variety of sales probs, our CRM is a SAAS platform that delivers a complete sales accountability solution to help you avoid missed sales and get you home at night Marketing and Propecting options - There are many marketing and prospecting options to help you connect with your target customers - On the following slide Measure marketing - What results do you want your marketing efforts to get? o Traffic – how many unique visitors visit your websites o MQLs? o Meetings? o Demos? o Referrals? o Sales? o Forecast and count everything! Lead nurturing - Most people need to be contacted several times before they are ready to buy - On average 8-12 contacts - Content is very important – you need different content everytime - Drip campaigns are needed - For email marketing automation tools are very important in building these relationships - “lead scoring” determines who is really interested All supported by social media -

Blogs, tweets, posts Business networking sites for credentials and contacts Building trust through positive reviews, testimonials and comments Social proof!

Summary - Propoecting is the foundation nof selling - Key steps vefore sales presentations - Wualify and prioritize your elads

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Know the b2b characteristic Get your

BET 430 – pre planning sales call Strategic customer sales planning -

Pre approach is the planning stage After your marketing and prospecting has hopefully had a possibilities possibly powerful impact

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When you connect with them, you need to be a strategic problem solver: o Understand customer’s business o Devise creative solution o Reach a mutually beneficial outcome (win-win)

Customer relationship model -

You need creative solutions to a customers strategic needs

Planning the sales call - Resons for planning the sales call: o Buils your self confidence because you are prepared o Allows fo the development of an enganign conversation o Demonstrates professionalism o Shortens sales cycles and increases sales results - 4 important steps o Determine sales call objective o Develop customer profile o Develop customer benefits o Develop sales presentation - The pre call objective: o Why am I calling> o If this call is successful, what will result? A booked demo (call demo proposal  close) - Focus and flexibility o Writing down pre call objectives increases focus

Uncovering BANT

0 what are the key questions that you need to strategically ask to uncover BANT? - The first question is not “Do you have the budget?” - 1. Need – what are the current problems, opps, circumstances - 2. Timeframe – when do they need a solution – now, next month, quarter or year? - 3. Authority – who is involved in the buying decision> are they available for future discussions? - 4. Budget – is budget established? Is it already being spent on other alternatives? The telephone – a powerful sales tool - A well-planned telephone call cann save time: o Establish your objectives (purpose of the call) o Prepare an opening statement (reference marketing) o Briefly outline message (value proposition) o Ask for what you want (their time) o Ask key qs (BANT) o Prep for possible objections o Confirm next step o Thank the prospect for their time o Provide a confirmation and reminder Gatekeepers - Best to get the prospects direct line through initial contact such as Linkedin but if not you will have to go through other who may or may not be helpful. - Receptionist secretary, administrative staff - Their job is to filter who/what get to anybody - Be friendly, courteous - They often have indirect (or direct) influence on the sale - Get to know key people in the company o Many cant buy the product but they can kill the sale o Who need influential enemies? Call reluctance Definition: refers to not wanting to contact a prospect or customer for fear of rejection - You want them to say no so that they can save you time!! - Exploring the psychology: for many salespeople, owning up to clal reluctance is the emost difficult part of combatting it - 40% suffer career threatning call reluctance at some point - 80% of 1st year salespeople who fail do so because of insuffiecient prospecting - Follow up, keep pluggin, make calls, 10-3-1 Develop customer profile - The profile is built in your CRM and consists of:

o o o o o o

Who is decision maker Buyer background Desired business terms Competitors on this account Purchasing policies What is the history (if any) of the account?

Understanding customers buying steps -

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Knowing the buying tspes the propect is going trough helps build and dleeiver the right presentation o Attention interest deesiree conviction purchase or action This takes time (sales cyclye) and focus onb their specific needs to be effective

Sales presentation methids - A major reson for your first call is to get int front of the prospect to make a s ales presenation known as the sales pitch - This sales prrsentaion incolves a persuasive explanation of a business Memorize sales presentation - Based on the assumption that the prospects need can be stimulated – classic cold call - Presentation planned and known - The salesperson talks 80-90% of the time - Advantages? o No real advantage because it is based Formula sales presentation - Require that salesperson has corrrectyly anticipated propects needs and eants - Some prior researcg...