SELLING WITH MAXIMUM VALUES: STRATEGIES THAT MAXIMIZE THE VALUE AND POWER OF YOUR SALES TO DRIVE FAST AND FAVORABLE PURCHASE DECISIONS [INBOUND 2014]
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The document outlines strategies for maximizing sales value and responsiveness, highlighting the need for well-documented sales processes and metrics. It emphasizes the importance of helping customers make informed purchase decisions quickly at a low cost, and treating every sales touch with equal significance. Key strategies include accelerating responsiveness, maximizing value in each interaction, and simplifying the sales process to reduce customer risk.
SELLING WITH MAXIMUM VALUES: STRATEGIES THAT MAXIMIZE THE VALUE AND POWER OF YOUR SALES TO DRIVE FAST AND FAVORABLE PURCHASE DECISIONS [INBOUND 2014]
- 1. #INBOUND14 Selling with Maximum Value Strategies That Maximize The Value And Power of Your Sales To Drive Fast And Favorable Purchase Decisions Andy Paul Founder, Zero-Time Selling, Inc.
- 2. #INBOUND14 How Do You Differentiate & Rise Above The Competition?
- 3. #INBOUND14 AMPUp Your Sales 1. AccelerateResponsiveness 1. Maximize Value 2. Practice Simplicity
- 4. #INBOUND14 What is Buying?
- 5. #INBOUND14 Gathering the Information to Make Good Decisions Quickly
- 6. #INBOUND14 “Getting information pushes at the two constraints everyone faces: it takes time and costs money. Making sound decisions fast and at a low cost is a competitive advantage everywhere.” Geoffrey Colvin, Talent is Overrated
- 7. #INBOUND14 Research: Customers Want To Make Decisions 40% Faster
- 8. #INBOUND14 Buying Quickly Gathering Information to Make Informed Purchase Decisions at a Low Cost
- 9. #INBOUND14 What is Selling?
- 10. #INBOUND14 “We don’t make money when we sell things; we make money when we help customers make purchase decisions.” Jeff Bezos, CEO, Amazon, Inc.
- 11. #INBOUND14 Are you selling things?
- 12. #INBOUND14 Are you helping customers make purchase decisions?
- 13. #INBOUND14 Sales Helping Customers Make Fast and Favorable Purchase Decisions at a Low Cost
- 14. #INBOUND14 AMPUp Your Sales 1. AccelerateResponsiveness 1. Maximize Value 2. Practice Simplicity
- 15. #INBOUND14 1 Accelerate Responsiveness
- 16. #INBOUND14 Responsiveness = Information + Speed
- 17. #INBOUND14 Responsiveness Strategy #1: Sell Faster
- 18. #INBOUND14 Two Pre-Requisites to Sell Faster 1. Well-defined and documented sales processes 1. Speed metrics for all customer- facing activities
- 19. #INBOUND14 75% 75% of companies have not documented their sales process Zero-Time Selling; Sales Process Assessment
- 20. #INBOUND14 Map Your Sales Process 1. Show all Steps 1. Show Duration of Steps
- 21. #INBOUND14 75% 75 % of companies have not established metrics for responsiveness or the speed of their sales process Zero-Time Selling; Sales Process Assessment
- 22. #INBOUND14 To Accelerate Responsiveness You Must Measure What Matters • Lead follow-up • Responsiveness to all customer questions • Clean Inbox Standard • Voice mail response • Customer Support response • Quote/Proposal Development
- 23. #INBOUND14 Document your sales process in detail Define time metrics for responsiveness Weekly: Review metric data Quarterly: Refine your sales process Train to the process Action Steps: Sell Faster
- 24. #INBOUND14 Responsiveness Strategy #2: Sell With Experts Who Can Help The Customer Buy
- 25. #INBOUND14 Who Should Sell Your Product? Generalists Specialists
- 26. #INBOUND14 Customer Preference: Knowledge & Expertise
- 27. #INBOUND14 Customers Don’t Buy You: They Buy What You Can Do For Them
- 28. #INBOUND14 Rate Your Sales Team & New Hires 1. Which Quadrant Matches Your Customers? 1. Does Your Sales Team Align With Your Customers’ Needs?
- 29. #INBOUND14 Write a Job Description Based on Your Buyers’ Needs Rate Your Sales Team Based on Their Attributes Find Experts Internally Action Steps
- 30. #INBOUND14 2 Maximize Value
- 31. #INBOUND14 Value Strategy #1: Plan and execute every sales touch to provide the maximum value in the least time
- 32. #INBOUND14 Customers Exchange Their Time for Value
- 33. #INBOUND14 Information That Moves The Prospect At Least One Step Forward In Their Buying Process What is “Value” in Selling?
- 34. #INBOUND14 Examples of Value • Product Data • Features & Benefits • Value Proposition
- 35. #INBOUND14 Types of Value Questions: • Defining the Problem • Shaping the Buying Vision Context: • White papers • Industry & Market reports Insights: • Case studies/Sales Stories • Testimonials • Independent Experts
- 36. #INBOUND14 An Essential Source of Value: Your Responsiveness • First seller with the answers wins • Makes it Easier for the Customer to Decide • Compressing the Buying Process • Responsiveness Creates Tangible Value
- 37. #INBOUND14 Establish Goals for Each Sales Touch Define Desired Outcomes Don’t Waste Time: Theirs or Yours Prepare, Practice, Rehearse Planning Guide for Value & Impact
- 38. #INBOUND14 Stop! Every sales touch must have a value plan. If it doesn’t: just don’t do it.
- 39. #INBOUND14 Value Strategy #2 : Treat Each Sales Touch With Equal Importance
- 40. #INBOUND14 Peak-End Selling: Peak Experience and Last Contact Customer Remembers Two Factors At Decision Time Initial Contact Decision Ongoing Discovery Presentation Proposal Peak Last
- 41. #INBOUND14 Every Step of Your Process Can Be The Peak Each Sales Interaction is Equally Important Initial Contact Order Ongoing Discovery Presentation Proposal Peak
- 42. #INBOUND14 Treat Every Sales Interaction with Equal Importance Achieve Your Goal(s) and Outcomes For Every Touch Focus on Peak Events and Last Touch Be Completely Responsive Action Steps to Maximize Value
- 43. #INBOUND14 3 Practice Simplicity
- 44. #INBOUND14 Simplicity Strategy #1: The Daily Question Question to Ask About Every Qualified Prospect Every Day: “What information does the prospect need from us today to move at least one step closer to making a decision?”
- 45. #INBOUND14 Simplicity Strategy #2: Start Small Reduce risk to increase win rate and compress decision cycles.
- 46. #INBOUND14 1 Fear!! 2 Risk that you can’t perform 3 Risk that they customer can’t perform 4 Risk that the wrong decision would be career limiting. Biggest Barriers to a Decision
- 47. #INBOUND14 Start with the smallest (least risky) relationship possible
- 48. #INBOUND14 Risk Assessment Quadrant
- 49. #INBOUND14 Qualify every sales opportunity with RAQ grid Integrate risk reduction into every account plan Introduce “Start Small” early in the buying process Action Steps to Reduce Risk:
- 50. #INBOUND14 Simplicity Strategy #3: Be 1% better
- 51. #INBOUND14 How much did you win your last deal by?
- 52. #INBOUND14 Your Internal Advocates are looking for Tiebreakers
- 53. #INBOUND14 Justifiers are NOT About Price
- 54. #INBOUND14 1 Respond to a lead within 30 minutes vs. 4 hours 2 Answer a customer question in 15 minutes vs. 24 hours 3 Maximize the Value to compress the buying cycle 4 Provide extra value that has minimal costs (i.e., extended warranty, pay shipping both ways on returns) 5 Make it easy to do business with you (have phone answered by a live person vs. an auto-attendant; prompt customer service response) Possible Justifiers
- 55. #INBOUND14 Well documented & measurable sales process Relevant experience & expertise in sales team Defined goals and outcomes for every sales touch Create peak experiences at each step of your sales process Keep your selling simple Start small to reduce risk and increase win percentage Be 1% better AMPUp Your Sales Checklist:
- 57. Author, Speaker, Sales Expert Contact: andy@zerotimeselling.com 619-980-4002 @AndyPaulSales @ZeroTimeSelling Andy Paul