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Selling to the

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Selling to the Tip ... Saves wasted time and resources presenting to non-decision makers Reduces the length of the sales ... WHY CUSTOMERS STOP DOING BUSINESS ... – PowerPoint PPT presentation

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Title: Selling to the


1
Selling to the Tip Top Chapter 1
  • David Peoples

2
Discussion Question
  • What are the primary reasons that it is important
    to sell to the top to the higher level
    managers and decision makers?

3
Rule 1
  • CALL TO THE TOP!
  • Saves wasted time and resources presenting to
    non-decision makers
  • Reduces the length of the sales cycle

4
  • There is almost always more competition at the
    bottom.
  • Using the figure on page 13, what does Peoples
    suggest about a salespersons ability to provide
    value added service in relationship to the level
    of the organization?

5
Maslow correlation
  • How does Peoples compare Maslows hierarchy to
    his call to the top? What is he trying to
    point out regarding the similarity with the high
    level Maslow needs and customer needs at the top
    of his pyramid?

6
  • Quality Service Price
  • What is the benefit of offering high quality and
    high level service?
  • What does this equation suggest for salespeople
    that offer poor/average quality and/or poor or
    average service?

7
  • There is no such thing as a commodity. All
    goods and services are differentiable.
  • Ted Levitt, Harvard Business School

8
The Rule of Common Sense
  • Its unwise to pay too much, but its worse to
    pay too little. - John Ruskin (P15)
  • What is being addressed with this rule. What
    does it mean for value added sellers?

9
  • 30 of prospects never buy from anyone
  • We should spend time focusing on those that will
    buy
  • Too often salespeople talk to lower level
    managers who dont have authority or willingness
    to buy
  • Getting to top management early in the process
    can eliminate wasted preparation and proposal time

10
Levels of Power
  • Executives
  • Users
  • Staff
  • Where do we begin?

11
  • Calling on the Executive
  • Reduces business cycle time by eliminating wasted
    presentation time with lower levels and
    discovering prospect interest sooner
  • Purchase amounts typically increase when
    executive level makes decision due to increased
    sign-off authority

12
Benefits of calling to the top
  • Easier sell
  • Faster sell
  • Less work
  • You have more value
  • Less competition
  • Can charge a higher price

13
Risks
  • Potentially make a fool of yourself?
  • Probably worth it?

14
Chapter 2
  • HOW TO IDENTIFY
  • THE DECISION MAKER

15
Questions to Answer
  • How many decision makers are there?
  • Who are they?
  • Who are the influencers?
  • Who are the gatekeepers?
  • Who is the DI (Dominant Influencer)?

16
Economic Decision Maker
  • The one person who actually controls the purse
    strings and has veto power
  • Most people guess too low when trying to
    identify this person within a company
  • Ask What is the decision process?

17
Confirmation
  • Once you suspect or know who the decision maker
    is, ask
  • Will you be making a recommendation or giving the
    final go ahead?
  • Who can veto this project
  • This will help confirm the identity!

18
Dont be mislead
  • A lot of salespeople are caught wasting time with
    lower level managers who either lead them to
    believe they have decision making power, or
    suggest that the top management stuff is merely a
    formality.

19
USERS
  • Your product or service has a Direct Relationship
    to their job performance
  • Reliability
  • Training,
  • Downtime
  • Ease of Use
  • Maintenance
  • Who will use or manage the use of this product?

20
Influencers
  • Opinions can be sought or unsought
  • Often have unique knowledge about the product or
    service being offered.

21
Gatekeeper
  • Decides who plays in the game
  • Cant say yes
  • Can Say No
  • Often focuses on Specifications or technical
    concerns
  • Examples Systems programmer for computer
    related products, staff people, lawyer,
    controller
  • Some companies use an approved vendor list

22
The Coach
  • Your guide
  • Wants you to win
  • Credibility within the company
  • Confidence in you

23
Your inside person
  • Coaches generally work for the company but could
    also be
  • Industry consultants
  • CPA
  • Ex-employee
  • Within your own company (eg former rep)

24
Ideal Situation!
  • The Economic Decision Maker is the Coach
  • Must identify the Decision Maker for this to work

25
Dominant Influencer
  • How do you discover this person?

26
DIs
  • When they speak others listen
  • Rarely surprised
  • Understand company goals
  • Results oriented
  • Integrity
  • Risk takers
  • Organized

27
  • Prepared
  • Sought our for opinion
  • Priorities
  • Good listener

28
Who Can It Be?
  • Users
  • An influencer
  • A Gatekeeper

29
CHAPTER 3
  • AM I GOING TO WIN OR LOSE?

30
  • Most important question is
  • Are they going to end up buying something from
    someone?
  • Dont waste time on the over 30 who wont!

31
  • People will buy when there is a discrepancy
    between their perception of where they are and
    their opinion of where they should be.

32
4 states of mind
  • Growth
  • Need more, better, faster
  • Trouble
  • Crisis, Fix, Hurting
  • Even
  • Everything is going well, likely means no sale
  • Too Good
  • Believes the company is doing better than
    expectations

33
WHO WILL BUY
  • Those looking for growth or improvement and those
    sensing they are in trouble are the most likely
    candidates to buy

34
Will they buy from me?
  • Ask yourselves, on a scale of 5 to -5, what
    attitude would the current decision maker have
    about me?
  • 5, 4, 3 means yes
  • 2, 1, -1, -2 Interested to uninterested
  • -3, -4, -5, NO

35
3 Key Questions
  • What are the customer buying criteria?
  • What are your strengths?
  • What are your competitors strengths?

36
  • The key is to find out if your strengths match up
    to the customer criteria better than the
    competition. This will be a good indication of
    your likelihood for success.
  • Are they looking for service, price, quality?

37
  • A request for proposal that you didnt know was
    coming, suggests you are too late? Why does he
    say this?

38
  • If you didnt provide selection criteria used to
    generate the RFP, your competitor likely did, and
    they have a leg up in that it is based on
    criteria they likely are strong in
  • Consider walking away and going after a better
    opportunity if the time to put together the RFP
    is significant

39
Fast Track Strategy
  • Get all players in the buying strategy together
    early and offer a formal presentation to create
    an immediate response from the prospect.
  • This reduces cycle time and lets you know early
    on where you stand.

40
Focused
  • Start with the EDM and DI and once you get
    through them go to the full buying group

41
Precision Marketing
  • Decide for each player
  • Will they buy from someone?
  • Are they going to buy from me?

42
Walk Away
  • Decide based on an estimated likelihood of
    purchase whether to walk away immediately and
    move on to a better potential customer.

43
Summary
  • Focus on the EDM DI
  • If the news is bad, walk away
  • You cannot be all things to all people
  • Avoid responding to RFPs in a lot of cases

44
Chapter 4
  • How to Meet Mr./Ms. Big

45
  • Peoples said that in over 30 years of sales and
    management, he never failed to get a conversation
    with a person at the top if he had a valid reason
    and could communicate that in a way that gained
    interest from that person.
  • Why then, do salespeople sometimes fail to get
    this meeting with the top?

46
  • Peoples says the Economic Decision Maker is often
    the easiest person to see. Why does he say this?
    Do you agree?

47
3 Questions
  • To get the meetings with the top you must be
    ready to answer 3 questions
  • Who from your company will be at the meeting?
  • What is the purpose?
  • How long will it take?

48
How to set the appointment
  • Go straight to the secretary/receptionist and ask
    for an appointment by answering the 3 questions
  • Write a letter with the answer to the 3 questions
  • Have your executives secretary call their
    executives secretary with answers to the 3
    questions

49
  • If you have trouble communicating a specific
    purpose for the call, People suggests a general
    statement expressing a desire to learn more about
    the prospects business and to share industry
    experience and information that could be mutually
    beneficial

50
  • Must get to the top levels to communicate value
    and overcome the LOCK at the lower levels
  • What does he say about the lock? What is it?

51
10 Keys to the Lock
  • For each key write a sentence or two explaining
    what he means
  • White Hat vs Black Hat
  • Show them how they will win
  • You have something they need
  • Buy a Piece of the Rock
  • Capitalize on Turnover

52
  • Swap Accounts
  • Take a Picture of a Big Event
  • Be a Writer
  • Discover Their Casual Time
  • Join the Club

53
SUMMARY
  • Reaching the Economic Decision Maker isnt as
    difficult as some might think
  • We to have a plan for gaining interest from the
    EDM to get the meeting
  • We must unlock the binds at the lower level by
    establishing trust and developing interest from
    the top

54
Chapter 5
  • ½ day at the CIA

55
  • IBMs largest customers said the 1 thing they
    expect is that their salesperson knows the
    company, industry and environment in which the
    customer does business

56
  • What is the purpose of the quotes from General
    Patton? Why does people use the analogy of a US
    general to a salesperson?

57
Sources of Information
  • Public companies 10K report
  • Additionally
  • Recruiting literature
  • Product literature
  • Company advertising
  • Industry trade or association magazine

58
Remember the goal
  • Increase effectiveness in high potential accounts
    while decreasing wasted time in lower potential
    accounts

59
  • What is the purpose about the case comparing the
    power and gas companies?
  • What is he trying to show by saying most
    salespeople picked the power company initially
    but picked the gas company after acquiring more
    knowledge?

60
  • Its also just as important to learn about
    Mr./Ms. Big as it is to learn about their company

61
Chapter 6
  • ½ Day at the CIA

62
Chapter 7
  • What to Talk About

63
5 Techniques Execs Use to Gain Management
Information
  • By-product Technique
  • Most common
  • Analyze business functions and/or compare actual
    versus budgeted expenditures
  • Compare actual versus forecasted sales
  • Cheap and efficient, but may not be focused on
    the needs of the business

64
The Confidant Approach
  • Personal and informal
  • Relies on word of mouth information from advisors
    or those that work closely with the Executive

65
Key Indicator System
  • Looks at specific pieces of information that are
    tracked and judged
  • This was done at IBM and Peoples points out that
    when you emphasize everything, you emphasize
    nothing.

66
The Big Study
  • A study conducted over 3,6, or 9 months that will
    provide answers to problems
  • A lot of times the by the time a study is
    completed and money wasted, the problems intended
    to be resolved are often fixed

67
Critical Success Factors
  • Those things that must go right for an
    organization to succeed
  • Eg. Auto industry (Styling, dealer network, cost
    control)
  • With regard to knowing a businesses critical
    success factors, they are a great topic for
    discussion when meeting with an executive

68
USING the CSFs
  • 1) CSF Destination?
  • 2) Goal Direction to get there
  • 3) Objective Speed of travel and time of
    arrival
  • 4) Strategy The vehicle to drive
  • 5) Tactic Fuel to get there

69
What does it mean?
  • Dont sell your product or its features to the
    top, remember they are buying quality, service,
    etc., in order to meet their high level
    objectives
  • Thats why you must know them, but how?

70
  • Company goals are usually stated in a companys
    annual or quarterly report and often directly by
    the CEO or President in a letter or statement

71
Selling Yourself
  • Think of your first meeting at the top as a way
    to sell yourself more than your product or
    service.
  • How? By knowing their business and demonstrating
    a desire to be of service in a area critical to
    their business

72
  • We are trying to present a solution to a problem,
    remember, not trying to sell a product. Selling
    a product is more of a lower order technique.

73
  • On average sales people talk 80 of the time in
    sales calls, while success a lot of times
    correlates with more customer talk. Peoples
    says salespeople should talk 20 of the time.
  • What do you think?

74
  • Peoples says asking questions is a very important
    skills for salespeople to learn about the
    customers business, his/her behavioral style,
    and most important needs that they are looking to
    address

75
  • Most people forget 75 of what they hear within
    24 hours or less

76
  • Total Tune in Know in advance you will only
    talk 20 of the time, and prepare good questions
    and be ready to listen
  • Take notes Helps retain information in your
    mind and on paper
  • Confirm your understanding Ask clarifying
    questions

77
Chapter 8
  • THE ART OF PERSUASION

78
  • No matter what our occupation, generally we have
    to be able to persuade others toward a course of
    action

79
Key Questions
  • WHY PEOPLE BUY
  • HOW PEOPLE BUY
  • HOW TO WIN
  • HOW TO LOSE

80
Aristotle Key 1
  • Logos Appeal to peoples logos, or sense of
    logic. We must be able to provide factual and
    logical reasons to help persuade people to buy

81
Aristotle Key 2
  • Pathos Logic and facts arent enough (eg
    smokers), we must be able to appeal to someones
    emotions as well.
  • We must balance between peoples rational needs
    and their emotional needs
  • Acceptance, respect, safety security

82
Left Brain/Right Brain
  • Left Brain
  • More likely to buy for logical reasons (product
    features, functional benefits)
  • Right Brain
  • More abstract and creative, more likely to buy
    for emotional reasons (eg luxury, comfort,
    status, feelings)
  • WE ALL USE BOTH

83
  • People dont buy products or services, they buy
    how those products or services will make them
    feel. (p 147)

84
  • Emotional or right brain decisions tend to be
    fast and final while logical decisions tend to
    take time, but often lack commitment

85
Examples
  • Dont sell me clothes. Tell me how great I
    look.
  • Dont sell me a house. Tell me about a location
    and great neighbors.
  • Dont sell me toys. Tell me about my happy
    children.

86
Marriage example
  • Which brain has more impact?
  • When you got married did you ask for an IQ test,
    a medical exam, financial statement, etc.?

87
  • We tend to buy based on feelings and justify our
    purchases with the facts. Thus, people need
    persuasion on both.
  • Behind every logical need lurks an emotional
    want.
  • What does this mean when selling to someone at
    the top (remember they buy for profitability,
    value, service, etc.)?

88
Aristotles 3rd Key
  • Ethos
  • People want to do business with people they
    like, trust and have confidence in. (p155)

89
Teachers to Presidents
  • Most people can only identify a handful of
    teachers/speakers out of hundreds who have been
    outstanding
  • Company Presidents would generally say the same
    thing about salespeople, this is why there is
    such a great opportunity

90
What makes you great?
  • Characteristics of great teachers
  • Cooperative, democratic
  • Kind, considerate
  • Patient
  • Wide interests
  • Pleasant
  • Fair, impartial
  • Sense of humor

91
Teachers (cont. -12k students)
  • Good disposition
  • Interest in student problems
  • Recognition, praise
  • Flexible
  • Proficient in subject
  • How many of these traits are related to subject
    knowledge? (1)

92
Worst Teachers
  • Never smile
  • Sarcastic
  • Flies off the handle
  • Unclear explanations
  • Partial
  • Has Favorites
  • Picks on some

93
  • Superior
  • Aloof
  • Overbearing
  • Unfriendly
  • How many related to teaching of the subject
    itself? (1)

94
  • What is the message in this survey as it relates
    to salespeople and their interaction with
    prospects (those at the top).

95
  • They are more interested in seeing that you care
    initially before they are interesting in seeing
    what your product can do!

96
WHY CUSTOMERS STOP DOING BUSINESS (p161)
  • 1 Die
  • 3 Move away
  • 5 Form other friendships
  • 9 Competition
  • 14 Dissatisfied with products/services
  • 68 Conduct of company employees

97
  • Win/Win vs Win/Lose
  • 96 of customers never complain if they lose
  • But, 91 will never buy from you again
  • And each will tell 9 others not to do business
    with you
  • p163

98
  • I Lose/You win (Price concessions)
  • Gives buyer a false sense that they can count on
    discounts, price concessions in the future, which
    will either hurt your relationships or damage
    your business success

99
Characteristics Customers like
  • How to build successful relationships
  • Dependable
  • Candid
  • Competent
  • Customer focused
  • Likeable
  • Follow through
  • Tell pros and cons
  • Proof sources
  • Show interest in them/their business

100
Chapter 9
  • PRESENTING THE ANSWER

101
First Call
  • Question, listen, learn
  • Verified critical success factors
  • Confirmed goals and objectives
  • Prioritized wants, needs and problems
  • Identified barriers to success
  • Verified executives behavioral style
  • Identified business and personal buying reasons
  • Established a follow up meeting

102
  • Your presentation should be a response to these
    results and should essentially explain how you
    can help solve the customers problem with your
    product or service

103
Breakthrough Strategy (Bob Schaffer)
  • 1. Something urgently needed
  • 2. Short term results
  • 3. Measurable, bottom line results
  • 4. People are ready, willing, and able to do
  • 5. Goal should be achievable with available
    resources and authority

104
Least risk strategy
  • While your competitors discuss product functions
    and features, you discuss
  • Experiences
  • Training
  • Testing
  • Competence
  • Credibility
  • Pattern of proven success

105
  • When going into major surgery, would you ask,
    who is the cheapest?
  • We want to focus on who or what is the best. The
    ECD would likely be more interested in the least
    risky scenario for his/her business versus the
    cheapest.

106
FUD Factor
  • Fear
  • Uncertainty
  • Doubt

107
Sell a Business Philosophy
  • Dont sell bells and whistles at the top, leave
    those for others selling at the bottom
  • Sell a business philosophy (tech leader, dominant
    expert, value orientation, customer satisfaction)

108
Sell First Choice for 2nd Place
  • Dont try to sell or persuade your ECD to change
    vendors if they are satisfied.
  • Instead, position your choice is a great backup
    by building up your strengths without pressuring
    them to buy
  • Many vendor relationships fail and this could
    leave you as the replacement

109
PRESENTATIONS
  • Stand up and use visual aids
  • 43 more likely to persuade than if you are
    sitting across a desk
  • If you stand up, your client will be willing to
    pay up to 26 more for the same service
  • Additional research validates the notion than
    standing with visuals is more effective!

110
Why Visuals?
  • Learning is improved up to 200
  • Retention increases 38
  • Time to explain complex subjects is reduced
    25-40
  • Quality of your presentation likely reflects
    quality of you, your company, products, service
    and support

111
Chapter 10
  • Dream, Desire Fire

112
Pyramid of Life
3
Money, Fame, Glory
SUPERSTARS
No Dream, No Desire, No Fire
113
  • You dont have to be brilliant
  • Out of 55,000-plus members of Mensa with a
    minimum IQ of 135.. Average salary is less than
    that of a plumber

114
Peak Performers
  • According to Peak Performers by Charles Garfield
  • Peak performers are made, not born
  • Average people like you and me
  • Not workaholics, but committed to results

115
We Control the Dice
  • The clock use of your time
  • Your friends
  • Your mouth how much you use it and to say what
  • Health
  • Financial Future
  • Attitude

116
Persistence
  • 44 of salespeople give up after 1 No
  • 22 give up after 2 Nos
  • 14 give up after 3 Nos
  • 12 give up after 4 Nos
  • 92 of all salespeople have given up by the 4th
    no, but 60 of customers say no at least 4 times
    before saying yes
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