An Analysis of Sales By Product

AN ANALYSIS OF SALES BY PRODUCT

Summary:

STEPS                                                   AWARENESS CHARACTERISTICS

Lead Generation                                        Recognition

Business Development call                      Attention/Communication

Contact/introduction                                Communication/Perception

Presentation Scheduled                            Perception/Awareness

__________________________________________________________

Capabilities Review Session                     Qualification/Orientation

Request for Proposal                                  Understanding/Awareness of Benefits

Champion identification

__________________________________________________________

Data Gathering Session                                Orientation/Motivation

(All Key Decision Makers)

(Empowered relationship and credibility and trust)

___________________________________________________________

Proposal Review Session                 Understanding/Enlightenment

Close                                                       Energy/Action

Strategy Planning Session                  Adjustment

 

 

1. THE APPOINTMENT

  • Lead generation accomplished
  • Preparatory research/account familiarity
  • Contact/Introduction
  • Presentation Scheduled (the Capabilities Review Session)

·      Business Development call

·      Qualification

 

Note: Marketing is not a department; it is your business.

Every action you take or fail to take is an act upon which your success or failure depends. You are the company at this point.

How professionally you handle yourself on the phone, whether you keep appointments once made, whether you listen to them, or just do all the talking, how you smoothly control the conversation to accomplish what they’re after, every act is a marketing act.

The great attention to the small detail is the key to success. Failure is costly.

 

Product:

Appointment scheduled with a qualified opportunity

 

Preparation for Step 2:

Reconfirm appointment and attendees

Presentation Checklist

Setup & quality check
2. CAPABILITIES REVIEW SESSION

 

  • Do the presentation
  • Question & Answer
  • Ensure complete understanding of their needs and wants
  • Identify and strengthen internal champion or sponsor
  • Request For Proposal (RFP)

 

Note: The most compelling selling message you can deliver is: “I understand what you need.” The message “I understand” concerns the most important person involved in the sale . . . the buyer.

 

Find out who they are, what they want, what they need and what they are willing to pay to get it. Talk about him, not about you. Your easiest sale will be giving him hope that what you offer will align with his purposes.

 

Product:

A meeting willingly scheduled to move forward with us with a qualified RFP or a meeting scheduled with appropriate decision-makers.

 

Preparation for Step 3:

Write up your notes and observations of the prior meeting.

Note the hot buttons and what areas that created an emotional impact.

Identify the decision-maker.

Reconfirm appointment and attendees

 

3. DATA GATHERING SESSION

·      Make sure the key decision-makers and expected attendees are present

  • Complete the Data Gathering Form.
  • Build the relationship based on credibility and trust.
  • Listen! Build toward complete understanding.
  • Establishing a non-adversarial, consultant position of helping them.
  • Get them contributing so you really know what they need and want.

 

Note: The time spent during this action is crucial. It allows you to be face to face with them for a significant period listening to their problems, their difficulties and thus allowing them to see that you do understand their needs. This is your chance to interact with them and show them that you are really interested in helping them. Get them comfortable with you controlling the conversation for their benefit.

 

Product:

Obtaining the necessary information to prepare a compelling proposal including their “hot buttons”

Ensure that they are satisfied that we understand their situation

Get them focused on what they will see from your company so you are seen as a solution not a problem.

 

Sub-product:

Schedule the next step

Set up a time to contact them to review the information and make sure it is correct.

Give them the list of references to check

 

Preparation for Step 4:

Prepare slides for the Background and Phase 1 (primary research study)

Get them to review the slides and get their contribution to continue building the relationship.

Make sure you have all the information necessary to provide them a solution they can and will accept in the proposal.

Checklist to confirm decision-makers and other attendees, start time – end time, size of room etc.

4. PROPOSAL REVIEW SESSION  (Strategy Planning Session)

 

·      Your company capabilities review (don’t overdo this step — summarize)

  • Reiterate what they asked for and from your understanding — what they need in your own words.
  • Bring them to enlightenment as to how your service will benefit them
  • Phase 1 (Primary market research, find out what the market looks like and what the company needs to know)
  • Phase 2 (sales and marketing programs that will drive revenue)
  • Investment (go over the cost of the program, broken down by phases)
  • Close the deal. Remember you never get the sale you don’t ask for.

 

Note: Ensure you have set their expectations properly. A sale can be generated easily by promising miracles, but now you have a client who can’t wait for the magic you promised so that even if you do a very good job, you’ll have a disappointed client.

Sales relationships are built on trust. Break a promise and you lose their trust. If you set the expectations beyond what can be delivered, they will decide that you misled them, or worse, that you have lied to them and you’ll have lost their trust forever. Now you’ll have a “client from hell.” They’ll never be satisfied no matter how much you do.

 

There is a rule of thumb in estimating time management; that is it generally takes twice as long to do something than you think it will. Allow a little extra time to keep your commitments and you’ll both be happier . . .
especially if you under promise and over deliver.

 

Set the expectations so that they will get more than what they thought they would. They’ll get their WOW! . . . and you’ll get the repeat business

 

Product A:

A client that has become sufficiently enlightened that the proposal as presented will accomplish what he is trying to do and who is willing to invest sufficient financial resources to allow you to help him bring this about. The “sales close” should be ended at this point.

 

Note: At this point internally, you must proceed along the steps outlined in the article entitled, “Post-Close Closings.” As this information advises, the “sales close” is only the first step of the closing process. There are in fact three steps to bring this process to a “complete close” whereby money is actually exchanged for services to be delivered.

 

These are:

  1. The Sales Close
  2. The Legal Close
  3. The Administrative or Accounting Close

 

Each of these steps must be fully completed before counting this as a done, as only then do you have a “complete close.”

 

Copyright © 2000 by Daniel W. Jacobs, All rights reserved.

 

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