Today we're sharing a quick, but important post with you from sales trainer Skip Miller. It's just what I like - value and concrete advice in a short, easy to read format!
Quantify has to be the master question of the day.
“They have to do something soon.”
“It’s a really big deal for them.”
“This is really, really important to them.
Any of these statements strike home? It’s really cool when you can use them in combinations.
“They have to do something soon since this is really, really important to them.”
How soon is soon? How important is important? Senior executives live in a quantifiable world. When you hear a subjective measure, qualify it with a quantify question:
“How soon?”
“Can you define ‘big’?”
“On a scale of 1-10, how important is this?”
Want to get rid of the maybes? Get the numbers. Can’t get the numbers? Probably talking to the wrong person.
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
Showing posts with label Skip Miller. Show all posts
Showing posts with label Skip Miller. Show all posts
Friday, August 19, 2011
Tuesday, June 14, 2011
The Pipeline Myth
Today sales trainer Skip Miller shares how to clean out your pipeline to separate the real prospects from those that are just taking up your time and energy. A good summer cleaning will do wonders for your time and ability to reach good prospects!
End of 2Q coming up. Pipeline looks OK, and what does not close this month will slide right into July and start the second half of the year off with a good head start.
You're kidding, right?
Most sales organizations live with 40-60% forecast accuracy. That is to say, given 50 deals and a 90-day window, about half will close. Other deals will come in, some others drop out, bluebirds will peek in, etc. It gets to where you ask 'why bother with forecasting anyway'; just close what you can.
Sales people can be really ProActive if they want to make sure they are forecasting real deals, and have a better than 50/50 shot.
Get an I-Date
What date does the prospect say they are going to use your stuff, not when they are going to buy it. I-Dates are dates the customer is going to start using what you are going to sell them to make money, save time, or lower their risk, and their has to be a reason for the I-Date; not just because the prospect told you so.
Get a Cause
What is causing the prospect to change, to do something different, to spend time talking to you? Not what do they want (feature/benefit), but what is the reason they are changing the way they are doing things, and why are they talking to someone like you?
Get a Homework Assignment
It is amazing that sales people believe if they do everything the prospect asks of them, they will "reward" them with an order. Such a push. It's OK to ask the prospect early in the sale to do a homework assignment. Give them a task to do. Have them give you a referral, red line an agenda, kick off a demonstration. The more "sweat equity" they invest early in the process, the better chance you have of determining if this is a real deal. If they are unwilling to do some homework, what does that really tell you about the commitment they have to working with you? Hmmm.
You have 30 days to close and clean out that pipeline. Yes, you will end up with a short pipeline list and have to go find (prospect for) more business. Myths and delusions are hard to close. Better you hunt early than go after table scraps.
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
End of 2Q coming up. Pipeline looks OK, and what does not close this month will slide right into July and start the second half of the year off with a good head start.
You're kidding, right?
Most sales organizations live with 40-60% forecast accuracy. That is to say, given 50 deals and a 90-day window, about half will close. Other deals will come in, some others drop out, bluebirds will peek in, etc. It gets to where you ask 'why bother with forecasting anyway'; just close what you can.
Sales people can be really ProActive if they want to make sure they are forecasting real deals, and have a better than 50/50 shot.
Get an I-Date
What date does the prospect say they are going to use your stuff, not when they are going to buy it. I-Dates are dates the customer is going to start using what you are going to sell them to make money, save time, or lower their risk, and their has to be a reason for the I-Date; not just because the prospect told you so.
Get a Cause
What is causing the prospect to change, to do something different, to spend time talking to you? Not what do they want (feature/benefit), but what is the reason they are changing the way they are doing things, and why are they talking to someone like you?
Get a Homework Assignment
It is amazing that sales people believe if they do everything the prospect asks of them, they will "reward" them with an order. Such a push. It's OK to ask the prospect early in the sale to do a homework assignment. Give them a task to do. Have them give you a referral, red line an agenda, kick off a demonstration. The more "sweat equity" they invest early in the process, the better chance you have of determining if this is a real deal. If they are unwilling to do some homework, what does that really tell you about the commitment they have to working with you? Hmmm.
You have 30 days to close and clean out that pipeline. Yes, you will end up with a short pipeline list and have to go find (prospect for) more business. Myths and delusions are hard to close. Better you hunt early than go after table scraps.
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
Thursday, May 12, 2011
The Lost Art of Reference Selling
I love this article from sales trainer Skip Miller - it reminds us of one of the hidden benefits of reference, or referral, selling.
People buy from people they like and they trust. If this statement is true, what are you doing during your prospecting efforts to make sure you turn those cold calls into warm calls so you get a better response rate?
I find it fascinating that sales people are all over Facebook, LinkedIn, Twitter and all the other social media tools, but have a tough time asking for a referral.
We constantly hear from sales people that reference selling is a great way to prospect and overcome cold call rejection, but ask a sales person to ask their customers for a referral, and they will look at you like you are asking them to request "the biggest favor in the world" from their best and most important friend.
Think like a customer. Customers, especially executives, love giving worthwhile referrals out, since, if the person who they refer you to actually buys and uses what you are selling, they probably:
Got rid of a problem
Reduced their cost
Increased their revenue
Which is the only reason they would buy from you.
Say you ask a good customer, Barney, for a referral. He gives you a referral, say Fred. You help Fred solve a problem, make money, or whatever. He's happy. He calls Barney up and says thanks. OK, so Barney knows that Fred owes him one. This 'owes me one mentality' has been around for a long time. The Romans used to call this a chit, which is like a favor marker, good for one favor.
Executives are always looking to collect chits, so you, by asking for a referral, are really helping your customer collect chits.
Bottom line, ask for referrals and help turn that cold calling chore into a networking juggernaut.
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
People buy from people they like and they trust. If this statement is true, what are you doing during your prospecting efforts to make sure you turn those cold calls into warm calls so you get a better response rate?
I find it fascinating that sales people are all over Facebook, LinkedIn, Twitter and all the other social media tools, but have a tough time asking for a referral.
We constantly hear from sales people that reference selling is a great way to prospect and overcome cold call rejection, but ask a sales person to ask their customers for a referral, and they will look at you like you are asking them to request "the biggest favor in the world" from their best and most important friend.
Think like a customer. Customers, especially executives, love giving worthwhile referrals out, since, if the person who they refer you to actually buys and uses what you are selling, they probably:
Got rid of a problem
Reduced their cost
Increased their revenue
Which is the only reason they would buy from you.
Say you ask a good customer, Barney, for a referral. He gives you a referral, say Fred. You help Fred solve a problem, make money, or whatever. He's happy. He calls Barney up and says thanks. OK, so Barney knows that Fred owes him one. This 'owes me one mentality' has been around for a long time. The Romans used to call this a chit, which is like a favor marker, good for one favor.
Executives are always looking to collect chits, so you, by asking for a referral, are really helping your customer collect chits.
Bottom line, ask for referrals and help turn that cold calling chore into a networking juggernaut.
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
Wednesday, April 13, 2011
Are You Winging It?
Today sales trainer Skip Miller discusses the importance of practice - it's an excellent reminder!
It's the start of the baseball season. The NCAA basketball tournaments are just over. Hockey and the NBA are starting to look at the playoffs.What do all these events have to do with selling?
At each of these events, the athletes are honing their skills and trying to put themselves into a position where their skills are juxtaposed with the right opportunity. They are being paid so that all the preparation and practice they have learned through the years is paying off and they can command the most of their talents for the right opportunity.
Hmmmm, it does sound like sales…except the part where the sales person is practicing their selling skills. You know the answer.
Q: Where does the sales person spend the most time preparing for the important sales call?
In between the car door and the front door?
In between when they pick up the phone and the prospect says, "Hello?"
The answer is both, and it sure does speak to the sales and sales management profession. Imagine the coach of a sport team asking the player right before the game:
How many points are you going to get this week?
We are in a five-game playoff...how many goals are you going to get this month?
How many one-putt greens are you going to get for the tournament?
It's just as silly to ask what's closing this week, but that's another story for another time.
It is all about the tools. Practice the tools you already have and the ones you have forgot (You have the book). When was the last time you practiced in front of your peers a 30-Second Speech, 2nd Call and Beyond, or a G.A.P. Chart? Oh, and since all great sales calls start with the end in mind, what about those Summarize/Bridge/Pulls?
You want to get people to call you back – 20-Second Speech. Need to power prospect – ValueStar and questions about trains. You don't need to tell them about you!
If you don't practice the tools, you will go back to your old habits, and you know those will not get you the results you need to make the year, let alone the next quarter. A 'tool' a week, and practice for 15-30 minutes. Basketball players practice free throws longer than that. Golfers, who have been playing golf all their lives, practice their putting longer than that...and daily. What makes you think you are at the top of your game without practice? Oh yeah, ShowTime. I forgot. Wing it from 60 feet?
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
It's the start of the baseball season. The NCAA basketball tournaments are just over. Hockey and the NBA are starting to look at the playoffs.What do all these events have to do with selling?
At each of these events, the athletes are honing their skills and trying to put themselves into a position where their skills are juxtaposed with the right opportunity. They are being paid so that all the preparation and practice they have learned through the years is paying off and they can command the most of their talents for the right opportunity.
Hmmmm, it does sound like sales…except the part where the sales person is practicing their selling skills. You know the answer.
Q: Where does the sales person spend the most time preparing for the important sales call?
In between the car door and the front door?
In between when they pick up the phone and the prospect says, "Hello?"
The answer is both, and it sure does speak to the sales and sales management profession. Imagine the coach of a sport team asking the player right before the game:
How many points are you going to get this week?
We are in a five-game playoff...how many goals are you going to get this month?
How many one-putt greens are you going to get for the tournament?
It's just as silly to ask what's closing this week, but that's another story for another time.
It is all about the tools. Practice the tools you already have and the ones you have forgot (You have the book). When was the last time you practiced in front of your peers a 30-Second Speech, 2nd Call and Beyond, or a G.A.P. Chart? Oh, and since all great sales calls start with the end in mind, what about those Summarize/Bridge/Pulls?
You want to get people to call you back – 20-Second Speech. Need to power prospect – ValueStar and questions about trains. You don't need to tell them about you!
If you don't practice the tools, you will go back to your old habits, and you know those will not get you the results you need to make the year, let alone the next quarter. A 'tool' a week, and practice for 15-30 minutes. Basketball players practice free throws longer than that. Golfers, who have been playing golf all their lives, practice their putting longer than that...and daily. What makes you think you are at the top of your game without practice? Oh yeah, ShowTime. I forgot. Wing it from 60 feet?
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
Thursday, July 8, 2010
Making the Grade in the Second Half
As someone who loved school, I think this article from sales trainer Skip Miller puts a fun spin on making the second half of the year your best yet. It also includes some great advice, so read on to make sure you get all A's on your next report card.
You made it!
You have the first half of the year done, and things are not too bad. Some of you are a bit ahead of plan, some a bit behind, but you have the rest of the year to make it. The ramp is steep, but time is on your side...so to speak.
Just like in college, this is the mid-term, and if you remember your days back in school, here are some basic rules regarding mid-terms.
1. Prepare for the final
You do not want to be in November looking up at a huge hill. It's the 3rd quarter that will make or break you, so get that pipeline full. Pipeline management is the number one reason people made or missed the 2nd quarter. Get the maybe's out and prospect broad and deep to fill it...now.
2. Drop the courses you are not doing well at
This would apply to C prospects and C sales people. If you keep the C prospects, your pipeline accuracy is shot. Up to 40% of your current pipeline are maybe's. Get them out. Managers, keep the C players, and you may as well kiss off 2011. Ask great qualification questions to the management of your prospects. Start interviewing; you may be surprised what talent is out there.
3. Get your B's to A's
This again goes to prospects and sales people. Have Solution Box conversations with the management of your top prospects. No Cause, no I-Date, no deal. Ask your A players what they need for the balance of the year to overachieve, and really listen. You may be surprised what they need to make a big year end splash for their quota, and yours, is within your reach.
4. Add resources
Time to allocate all the resources you have into getting good prospects into the funnel. Your team has 6 months to close these deals, but come September, good luck trying to fill the funnel, when everyone else, including your buyers, are making decisions. All hands on deck...fill the funnel and go see your top 2010 prospects.
5. Ask questions
Best way to qualify is to disqualify.
"Why would you go ahead this year and fund this solution?"
"What return are you getting on this investment?"
"How is this helping you lower your business risk?"
"Where does this solution save you time?"
If your prospect can not answer business value questions...are they really going to spend money?? They like you?? Hmmmm....time to break out ValueStar.
There seem to be more mines in the minefield in the second half of the year than the first, if that's possible. How you navigate with the right tools, the right prospects and the right resource will heavily influence the final score. Your final score. Your year is over by the end of September. Get moving, and have a great summer.
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
You made it!
You have the first half of the year done, and things are not too bad. Some of you are a bit ahead of plan, some a bit behind, but you have the rest of the year to make it. The ramp is steep, but time is on your side...so to speak.
Just like in college, this is the mid-term, and if you remember your days back in school, here are some basic rules regarding mid-terms.
1. Prepare for the final
You do not want to be in November looking up at a huge hill. It's the 3rd quarter that will make or break you, so get that pipeline full. Pipeline management is the number one reason people made or missed the 2nd quarter. Get the maybe's out and prospect broad and deep to fill it...now.
2. Drop the courses you are not doing well at
This would apply to C prospects and C sales people. If you keep the C prospects, your pipeline accuracy is shot. Up to 40% of your current pipeline are maybe's. Get them out. Managers, keep the C players, and you may as well kiss off 2011. Ask great qualification questions to the management of your prospects. Start interviewing; you may be surprised what talent is out there.
3. Get your B's to A's
This again goes to prospects and sales people. Have Solution Box conversations with the management of your top prospects. No Cause, no I-Date, no deal. Ask your A players what they need for the balance of the year to overachieve, and really listen. You may be surprised what they need to make a big year end splash for their quota, and yours, is within your reach.
4. Add resources
Time to allocate all the resources you have into getting good prospects into the funnel. Your team has 6 months to close these deals, but come September, good luck trying to fill the funnel, when everyone else, including your buyers, are making decisions. All hands on deck...fill the funnel and go see your top 2010 prospects.
5. Ask questions
Best way to qualify is to disqualify.
"Why would you go ahead this year and fund this solution?"
"What return are you getting on this investment?"
"How is this helping you lower your business risk?"
"Where does this solution save you time?"
If your prospect can not answer business value questions...are they really going to spend money?? They like you?? Hmmmm....time to break out ValueStar.
There seem to be more mines in the minefield in the second half of the year than the first, if that's possible. How you navigate with the right tools, the right prospects and the right resource will heavily influence the final score. Your final score. Your year is over by the end of September. Get moving, and have a great summer.
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
Wednesday, September 2, 2009
Use Time as a Sales Weapon
Time is the most important thing in your day. You have to send documents by a certain time, make a call at a certain time, and catch your prospect at the right time. It's the same way for your prospects when they're making a buying decision "Your prospects, when they are making a business or purchase decision, use the entire time spectrum - past, present, and future," says sales trainer Skip Miller. "Usually they use more than one time element in their decision. Your job is to help the prospect to use these time elements to your advantage."
According to Miller, "prospects use three time zones to justify their purchasing decisions. They rationalize or compartmentalize their needs, place a priority on them, and then go forth and try to make a decision. Each one - Past, Present, and Future - will cause a different motive for buying."
Time Zones
Past - Decisions made for past motivations are restorative. They are being made to get something back up to speed, to atone for a mistake, to catch up to a standard.
Present - Present decisions are made for present or current reasons. These are ones that take advantage of a current opportunity or a planned scheduled event.
Future - There are a few decisions that are strategic, where prospects will invest now so they can save money or time later, or even defer their risk.
"All of the time zones are critical to your prospect for making a purchase decision," says Miller. "During a sale, the prospect will give hints that she is looking at multiple Time Zones. It is really quite simple: The more Time Zone issues you face, the more value you create."
Here are some examples:
"They said they need it right now because it's holding up production of their new plant."
"He told me, in a very direct way, the reason they are so hot on our solution is they have tried three other options, and this is their last attempt. They need to get back on track, and they see us as the way to do that."
"Strategic. I just know it. They are telling me we are critical to the successful launch of the new product they are rolling out in a few months."
"Questions with a time element in them will give you loads of information on where the prospect is in each Time Zone," explains Miller. "You need more to your sale than just your product's features and benefits. You need to find out the reason your prospect is willing to make a commitment right now."
"To do this, map it out so you can ask questions about the time situations that are most important to them. A good rule of thumb is to ask future-based questions to move the prospect off their current objection."
"I really am happy with what we are using currently."
"That's great Mr. Janovitz. However, over the next 6-12 months, how do you see your business changing, or your customers' requests changing that may require you to do things a bit different than you are currently doing?"
"Move them into the future, and watch their needs grow, and your solution appear. Just in time."
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
According to Miller, "prospects use three time zones to justify their purchasing decisions. They rationalize or compartmentalize their needs, place a priority on them, and then go forth and try to make a decision. Each one - Past, Present, and Future - will cause a different motive for buying."
Time Zones
Past - Decisions made for past motivations are restorative. They are being made to get something back up to speed, to atone for a mistake, to catch up to a standard.
Present - Present decisions are made for present or current reasons. These are ones that take advantage of a current opportunity or a planned scheduled event.
Future - There are a few decisions that are strategic, where prospects will invest now so they can save money or time later, or even defer their risk.
"All of the time zones are critical to your prospect for making a purchase decision," says Miller. "During a sale, the prospect will give hints that she is looking at multiple Time Zones. It is really quite simple: The more Time Zone issues you face, the more value you create."
Here are some examples:
"They said they need it right now because it's holding up production of their new plant."
"He told me, in a very direct way, the reason they are so hot on our solution is they have tried three other options, and this is their last attempt. They need to get back on track, and they see us as the way to do that."
"Strategic. I just know it. They are telling me we are critical to the successful launch of the new product they are rolling out in a few months."
"Questions with a time element in them will give you loads of information on where the prospect is in each Time Zone," explains Miller. "You need more to your sale than just your product's features and benefits. You need to find out the reason your prospect is willing to make a commitment right now."
"To do this, map it out so you can ask questions about the time situations that are most important to them. A good rule of thumb is to ask future-based questions to move the prospect off their current objection."
"I really am happy with what we are using currently."
"That's great Mr. Janovitz. However, over the next 6-12 months, how do you see your business changing, or your customers' requests changing that may require you to do things a bit different than you are currently doing?"
"Move them into the future, and watch their needs grow, and your solution appear. Just in time."
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
Friday, July 24, 2009
Who Wins the Gold?
We're now in the second half of the year, and things are changing. New prospects, marketing, and products have ramped up your sales, and you're ready to have the best quarter ever, right? There's nothing wrong with that, but sales trainer Skip Miller says there's something you need to think about first - your customer.
"How much time have you spent seeking to understand what your potential customers want in the second half of the year?" asks Miller. "It's all about them, and since they are the ones with the gold anyway it's time to do some research."
--Ask your current customers what's important to them for the next six months. They have plans too. Chances are your prospects have the same priorities as well.
--It's all about revenue, not about cutting costs. Everyone has already cut out the fat, and anything that will help get revenue and avoid more cuts will be looked at. Stop pitching your cost savings so much, and listen to the prospects plans to get revenue, and see if you can help them.
--Go on the Internet and ask what is important to your main buyer. If you sell to the CFO, CMO, CIO, or executives at small companies, do a search on what's important to them in 2009 or 2010. You will hear from people who ask and answer these questions for a living what they want/need.
"As you plan your prospecting blitz, remember to ask and listen to what's important to them over the next six months, and then determine if you can help them," continues Miller. "Pitching and hoping something sticks may have worked in the past, but not anymore."
"Help your prospects and current customers win their race. Let them get the gold medal. You will win your race, only if your customers finish first. They have a plan. Find out what it is, see if you can help, and if you can, you both get the medal. Now that's victory."
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
"How much time have you spent seeking to understand what your potential customers want in the second half of the year?" asks Miller. "It's all about them, and since they are the ones with the gold anyway it's time to do some research."
--Ask your current customers what's important to them for the next six months. They have plans too. Chances are your prospects have the same priorities as well.
--It's all about revenue, not about cutting costs. Everyone has already cut out the fat, and anything that will help get revenue and avoid more cuts will be looked at. Stop pitching your cost savings so much, and listen to the prospects plans to get revenue, and see if you can help them.
--Go on the Internet and ask what is important to your main buyer. If you sell to the CFO, CMO, CIO, or executives at small companies, do a search on what's important to them in 2009 or 2010. You will hear from people who ask and answer these questions for a living what they want/need.
"As you plan your prospecting blitz, remember to ask and listen to what's important to them over the next six months, and then determine if you can help them," continues Miller. "Pitching and hoping something sticks may have worked in the past, but not anymore."
"Help your prospects and current customers win their race. Let them get the gold medal. You will win your race, only if your customers finish first. They have a plan. Find out what it is, see if you can help, and if you can, you both get the medal. Now that's victory."
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
Friday, March 20, 2009
The Art of DISqualification
How's your pipeline looking these days? Packed full? Just full enough? No matter how many active leads you have, you know they won't all buy - and that could make your pipeline a little less full than you thought. Sales trainer Skip Miller suggests you use disqualification to accurately see how many accounts you have waiting.
How to disqualify an active account:
1. What is the process of making a decision? Not who, but what. Why? Companies have a well-defined process for making a decision - it is rarely up to one person. If they can describe the decision-making process, they are more than just lookers. They have at least given it some thought.
2. What is the process for obtaining and committing budget? Again, if they can describe to you who is involved and why they would quantifiably cut the check, you may be on to something. It's not that they have a budget, that's easy, it's defining the process that's the disqualifier.
3. I-Date. What date are they going to start using what you are selling? Why couldn't it slip a month or two? What would happen if it did? Who would be affected with a slip...anybody? Everybody? The more people affected by a slip, the better chance you have. Don't focus on when they are going to sign, focus on when they are going into production with whatever you are selling.
4. Cash is king. What's the return on the investment they are making with you? How much risk or assumed risk are they thinking your solution is worth? Show them lower risk than they perceive and a quick return on their money.
Finally, the risk and the ROI numbers come from them, not from you. Ask them...they'll tell you. It's the maybe's that will kill you. Get rid of the maybe's early and shrink that pipeline down to a realistic amount. The deals are out there, just get rid of the smoke.
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
How to disqualify an active account:
1. What is the process of making a decision? Not who, but what. Why? Companies have a well-defined process for making a decision - it is rarely up to one person. If they can describe the decision-making process, they are more than just lookers. They have at least given it some thought.
2. What is the process for obtaining and committing budget? Again, if they can describe to you who is involved and why they would quantifiably cut the check, you may be on to something. It's not that they have a budget, that's easy, it's defining the process that's the disqualifier.
3. I-Date. What date are they going to start using what you are selling? Why couldn't it slip a month or two? What would happen if it did? Who would be affected with a slip...anybody? Everybody? The more people affected by a slip, the better chance you have. Don't focus on when they are going to sign, focus on when they are going into production with whatever you are selling.
4. Cash is king. What's the return on the investment they are making with you? How much risk or assumed risk are they thinking your solution is worth? Show them lower risk than they perceive and a quick return on their money.
Finally, the risk and the ROI numbers come from them, not from you. Ask them...they'll tell you. It's the maybe's that will kill you. Get rid of the maybe's early and shrink that pipeline down to a realistic amount. The deals are out there, just get rid of the smoke.
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
Thursday, February 19, 2009
What's hot, what's not?
If you're looking for someone who knows what works and what doesn't work in sales, then trainer Skip Miller is your guy. He recently put out a "Hot or Not" list that makes it clear what you should be doing - and what should be retired.
Not
Face to face sales calls. Seeing the same people just to ask them, "How's it going?." These can also be called doughnut drops, or fancy doughnut drops. If you are going to see a customer face to face, it better be with someone who is ready to spend money.
Hot
Qualification skills. Getting 5 or 6 out of 10 from 2 out of 10. You have to qualify over the phone, over the web, over the Internet. Qualification skills aren't just for the new or inexperienced salespeople, they're also important for the major account salespeople.
Not
Products, new products, and better products. If you are a company that is going to dedicate more than 35% of your company's sales kick-off meeting to products, you are doing it all wrong. It's about the value your customer will get from your solution.
Hot
Financial and ROI questioning skills. Have you read "Understanding Financial Reports" from Merrill Lynch? Google it and you'll be surprised how easy you can you can turn all that financial "stuff" into benefit selling.
Not
Prospect - Qualify - Demo - Propose. It is absolutely amazing the number of companies still selling demos and proposals. Please get a clue. The goal is not to sell a proposal or a demo. "Once we get them in the demo, they will see the value." You're dreaming, right?
Hot
Having the prospect qualify themselves. Come up with a questionnaire or a visual buy cycle map that walks the prospect through an evaluation of your product and service. Think of homework assignments your prospect must do before you give them a demonstration or a proposal. In these tough times you have to improve the quality of the pipeline, not just the quantity.
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
Not
Face to face sales calls. Seeing the same people just to ask them, "How's it going?." These can also be called doughnut drops, or fancy doughnut drops. If you are going to see a customer face to face, it better be with someone who is ready to spend money.
Hot
Qualification skills. Getting 5 or 6 out of 10 from 2 out of 10. You have to qualify over the phone, over the web, over the Internet. Qualification skills aren't just for the new or inexperienced salespeople, they're also important for the major account salespeople.
Not
Products, new products, and better products. If you are a company that is going to dedicate more than 35% of your company's sales kick-off meeting to products, you are doing it all wrong. It's about the value your customer will get from your solution.
Hot
Financial and ROI questioning skills. Have you read "Understanding Financial Reports" from Merrill Lynch? Google it and you'll be surprised how easy you can you can turn all that financial "stuff" into benefit selling.
Not
Prospect - Qualify - Demo - Propose. It is absolutely amazing the number of companies still selling demos and proposals. Please get a clue. The goal is not to sell a proposal or a demo. "Once we get them in the demo, they will see the value." You're dreaming, right?
Hot
Having the prospect qualify themselves. Come up with a questionnaire or a visual buy cycle map that walks the prospect through an evaluation of your product and service. Think of homework assignments your prospect must do before you give them a demonstration or a proposal. In these tough times you have to improve the quality of the pipeline, not just the quantity.
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
Tuesday, January 13, 2009
Make January Your Best Month
"January is the time where you take your energy and your determination and put them to work," says sales trainer Skip Miller. "Working hard to get ahead of the curve? 2009 looking like the roller coaster we all expect it to be? Up and down, then down then up? Getting meetings but no commitments?" Here's some advice from Miller to help make January a pull month for you:
Ask questions
Find out what is important to your prospect in the first half of 2009. This is not the time to see if they are in the market to buy something that you are selling. Ask them what they are doing in the first half of the year. What's important to them?
Be a part(ner)
Your prospect knows that they don't have a lot of money, and do not want to take on a lot of risk. Fine. What are they working on and how can you be a part of the solution? If you are an oven sales person, your interest should be if they are doing any remodeling in their kitchen, or if they plan on eating in more, not if they are "planning to buy a new oven". There is a difference.
Call high
Need to go broad and deep in your current accounts? Now is the time for your manager to call his/her manager for a 2009 review of what your customers are doing in 2009. They may not mention anything at all on how you can help them. That's the point. Get a good idea of what they are doing differently in 2009...and then thank them for their time. You can get back in short order if you can help them, based on what they are trying to do, just not a 10-slide sales pitch on what you're doing different in 2009. Do you really think they care???
Pull, not push. You will find that your prospects are looking for solutions, not sales pitches. Crank up those listening skills about them, not about you and your products/services, and you will find them wide open to talk, and talk, and talk. That's a good thing.
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
Ask questions
Find out what is important to your prospect in the first half of 2009. This is not the time to see if they are in the market to buy something that you are selling. Ask them what they are doing in the first half of the year. What's important to them?
Be a part(ner)
Your prospect knows that they don't have a lot of money, and do not want to take on a lot of risk. Fine. What are they working on and how can you be a part of the solution? If you are an oven sales person, your interest should be if they are doing any remodeling in their kitchen, or if they plan on eating in more, not if they are "planning to buy a new oven". There is a difference.
Call high
Need to go broad and deep in your current accounts? Now is the time for your manager to call his/her manager for a 2009 review of what your customers are doing in 2009. They may not mention anything at all on how you can help them. That's the point. Get a good idea of what they are doing differently in 2009...and then thank them for their time. You can get back in short order if you can help them, based on what they are trying to do, just not a 10-slide sales pitch on what you're doing different in 2009. Do you really think they care???
Pull, not push. You will find that your prospects are looking for solutions, not sales pitches. Crank up those listening skills about them, not about you and your products/services, and you will find them wide open to talk, and talk, and talk. That's a good thing.
A recognized authority on the psychology of sales performance, Skip Miller has helped countless companies, already at the height of success in their respective fields, achieve an even greater level of sales productivity and success. Learn more at www.m3learning.com
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